Shutterstock (SSTK)

Days of sales outstanding (DSO)

		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
Receivables turnover		9.61	10.27	13.73	17.45	12.29	15.41	16.43	17.63	16.14	16.45	14.41	13.91	15.17	13.49	13.23	14.30	13.81	13.76	14.39	13.89
DSO	days	38.00	35.55	26.58	20.92	29.70	23.69	22.21	20.71	22.61	22.19	25.33	26.24	24.06	27.06	27.59	25.52	26.43	26.52	25.36	26.28

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 9.61
= 38.00

To analyze Shutterstock Inc's Days Sales Outstanding (DSO) over the past eight quarters, we observe a general trend of fluctuation. DSO measures the average number of days it takes for a company to collect revenue after a sale is made. In Q4 2023, the DSO was 38.04 days, which increased from the previous quarter. This indicates that it took longer for the company to collect its accounts receivable compared to Q3 2023.

Comparing the Q4 2023 DSO to earlier quarters, we see an increasing trend from Q1 2023, where the DSO was at its lowest at 20.89 days. This prolonged collection period may suggest potential issues with customer creditworthiness or collection methods.

However, when looking at year-over-year performance, the Q4 2023 DSO of 38.04 days is still higher than the DSO of Q4 2022, which was 29.65 days. This can signify a deterioration in the efficiency of the company's accounts receivable management compared to the same period last year.

Overall, the analysis of Shutterstock Inc's DSO trend highlights the importance of monitoring and managing accounts receivable effectively to ensure timely collection of revenues and maintain healthy cash flow levels.