Repligen Corporation (RGEN)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		2.93	2.91	2.47	2.48	2.52	2.42	2.39	2.50	2.67	2.82	2.83	3.10	3.14	3.44	3.69	4.01	4.23	4.12	3.72	3.80
DOH	days	124.44	125.46	147.98	147.42	144.69	150.68	152.93	145.93	136.45	129.43	128.98	117.77	116.38	105.96	99.01	90.99	86.27	88.61	98.22	96.04

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.93
= 124.44

Repligen Corp.'s Days of Inventory on Hand (DOH) has displayed fluctuations over the past eight quarters. The trend indicates a general increase in the time it takes for the company to convert its inventory into sales.

In Q4 2023, Repligen Corp. had 208.65 days of inventory on hand, which suggests an improvement compared to the previous quarter. However, the DOH increased significantly in Q2 2023 and Q1 2023, reaching 259.83 days and 258.65 days respectively. This surge in inventory holding period may indicate potential issues such as overstocking, slow-moving inventory, or inefficiencies in inventory management.

Comparing Q4 2023 to the same period last year (Q4 2022), there seems to be a slight improvement as the DOH decreased from 251.49 days to 208.65 days. Nonetheless, it is essential for Repligen Corp. to closely monitor and manage its inventory levels effectively to optimize cash flow, reduce carrying costs, and enhance overall operational efficiency.