Shutterstock (SSTK)

Receivables turnover

		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
Revenue (ttm)	US$ in thousands	875,466	876,879	847,509	842,783	826,489	812,053	802,190	789,207	770,112	745,582	716,961	685,134	665,050	650,477	644,873	646,683	649,328	645,029	637,492	631,122
Receivables	US$ in thousands	91,139	85,406	61,715	48,303	67,249	52,713	48,816	44,774	47,707	45,323	49,756	49,261	43,846	48,225	48,744	45,216	47,016	46,872	44,295	45,449
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $875,466K ÷ $91,139K
= 9.61

The receivables turnover of Shutterstock Inc has fluctuated over the past eight quarters. It reached its lowest point in Q4 2023 at 9.60 and showed an upward trend in Q3 2023 at 10.25. However, the turnover increased significantly in Q2 2023 to 13.71 and further spiked in Q1 2023 to 17.47. These two quarters saw a notable improvement compared to the previous periods.

Looking back to Q4 2022, the turnover was 12.31, slightly higher than Q3 2022 at 15.48. The trend continued to climb in Q2 2022, with a turnover of 16.52, and reached its peak in Q1 2022 at 17.63.

Overall, the company's receivables turnover has shown variability throughout the quarters, with occasional spikes but generally maintaining a moderate level. The significant increase in turnover in Q1 2023 compared to the prior periods indicates a more efficient collection of receivables during that period.