Vericel Corp Ord (VCEL)

Inventory 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
Cost of revenue (ttm)	US$ in thousands	61,940	59,896	58,241	56,452	54,577	53,691	52,781	51,198	50,159	48,182	45,561	41,612	39,951	38,954	38,491	38,853	37,571	35,615	34,429	33,134
Inventory	US$ in thousands	13,087	12,621	13,883	15,370	15,986	16,729	15,929	14,385	13,381	13,059	12,959	10,322	9,356	10,080	8,417	7,282	6,816	6,823	4,788	4,063
Inventory turnover		4.73	4.75	4.20	3.67	3.41	3.21	3.31	3.56	3.75	3.69	3.52	4.03	4.27	3.86	4.57	5.34	5.51	5.22	7.19	8.16

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $61,940K ÷ $13,087K
= 4.73

Vericel Corp's inventory turnover has shown a consistent improvement over the past eight quarters. The inventory turnover ratio increased from 3.41 in Q4 2022 to 4.73 in Q4 2023, indicating that the company is efficiently managing its inventory levels. This improvement suggests that Vericel Corp has been selling its inventory more frequently, which could lead to lower carrying costs and improved cash flow. The company's ability to turn over its inventory at a faster rate is a positive sign of operational efficiency and effective inventory management. Overall, the upward trend in inventory turnover reflects positively on Vericel Corp's operations and financial performance.