Vericel Corp Ord (VCEL)

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	197,516	185,214	178,184	169,308	164,365	159,262	155,217	157,690	156,184	153,822	151,574	132,069	124,179	118,340	116,581	122,718	117,850	109,795	101,780	94,640
Receivables	US$ in thousands	52,756	34,829	33,019	31,259	40,439	27,996	26,964	25,155	30,437	21,710	24,632	23,022	29,204	21,574	19,255	20,671	28,268	15,758	21,084	18,774
Receivables turnover		3.74	5.32	5.40	5.42	4.06	5.69	5.76	6.27	5.13	7.09	6.15	5.74	4.25	5.49	6.05	5.94	4.17	6.97	4.83	5.04

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $197,516K ÷ $52,756K
= 3.74

Vericel Corp's receivables turnover has shown fluctuations over the past eight quarters. The receivables turnover ratio represents the company's efficiency in collecting outstanding receivables from customers. A higher turnover ratio indicates that the company is collecting its receivables more quickly.

In Q4 2023, the receivables turnover ratio decreased to 3.38 from the previous quarter, Q3 2023, where it stood at 4.66. This may indicate that Vericel Corp took longer to collect receivables in Q4 compared to Q3. However, it is important to note that the receivables turnover ratio of 3.38 is still higher than the ratio in Q4 2022, which was 3.53.

Looking at the trend over the past eight quarters, the company's receivables turnover ratio has been relatively stable, with some variations. The highest turnover ratio was observed in Q1 2022 at 4.95, while the lowest was in Q4 2023 at 3.38.

Overall, while there have been fluctuations in Vericel Corp's receivables turnover ratio, the company has maintained a reasonably efficient collection process over the analyzed period. Monitoring this ratio consistently can provide insights into the company's cash flow management and customer credit policies.