SPS Commerce Inc (SPSC)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	182,069	153,065	131,678	99,836	92,239
Inventory	US$ in thousands	—	52,755	44,529	37,502	35,274
Inventory turnover		—	2.90	2.96	2.66	2.61

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $182,069K ÷ $—K
= —

To calculate SPS Commerce Inc.'s inventory turnover ratio, we need information on the cost of goods sold and the average inventory for each respective year. The formula for inventory turnover is:

Inventory Turnover = Cost of Goods Sold / Average Inventory

Without the specific data for cost of goods sold and average inventory for the given years (2023, 2022, 2021, 2020, 2019), we are unable to compute the inventory turnover ratio for SPS Commerce Inc. It is essential to have these specific figures to evaluate the efficiency of the company's inventory management and how quickly it is selling its inventory each year.