Veracyte Inc (VCYT)
Inventory turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 156,616 | 154,864 | 156,218 | 146,858 | 137,618 | 128,663 | 118,573 | 110,358 | 108,756 | 104,098 | 101,582 | 97,633 | 93,268 | 85,710 | 74,400 | 62,705 | 51,432 | 41,615 | 41,455 | 40,387 |
| Inventory | US$ in thousands | 25,020 | 24,254 | 21,750 | 20,364 | 19,258 | 18,328 | 16,128 | 15,887 | 11,572 | 13,306 | 14,294 | 13,798 | 14,600 | 12,372 | 11,225 | 9,824 | 6,674 | 6,308 | 4,657 | 4,456 |
| Inventory turnover | 6.26 | 6.39 | 7.18 | 7.21 | 7.15 | 7.02 | 7.35 | 6.95 | 9.40 | 7.82 | 7.11 | 7.08 | 6.39 | 6.93 | 6.63 | 6.38 | 7.71 | 6.60 | 8.90 | 9.06 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $156,616K ÷ $25,020K
= 6.26
The inventory turnover ratio for Veracyte Inc. demonstrates notable fluctuations over the analyzed period. At the beginning of the observed timeframe, on September 30, 2020, the ratio was relatively high at 9.06, indicating efficient management of inventory relative to sales during that period. This ratio experienced a slight decline to 8.90 by the end of 2020, maintaining a generally stable trend.
In the subsequent quarters, a gradual decrease in inventory turnover is observed, reaching a low of 6.38 on September 30, 2021. This decline suggests that inventory was being converted into sales at a slower rate, potentially due to increased inventory levels, reduced sales efficiency, or strategic inventory buildup.
From late 2021 to mid-2022, the ratio shows some recovery, rising back to around 6.93 by March 2022 and maintaining a relatively stable range thereafter. Specifically, the ratio increased to 7.11 at the end of 2022 and further to 7.82 by March 2023, reflecting a moderate improvement in inventory management.
A significant upward movement occurs between June 2023 and September 2023, where the ratio peaks at 9.40, the highest in the period examined. This suggests a period of more efficient inventory utilization or possibly reduced inventory holdings relative to sales. However, post-September 2023, the ratio declines again to 6.95 by the end of 2023, indicating a reversal of the earlier improvement. It remains relatively stable through early 2024, fluctuating around 7.15, before slightly decreasing to 6.39 by March 2025.
Overall, the trend indicates periods of both inventory accumulation and efficiency, with notable peaks and troughs. The substantial fluctuation, particularly the peak in mid-2023, could be indicative of strategic inventory adjustments, supply chain considerations, or changes in sales dynamics. The recent lower ratios may warrant further analysis to determine whether these reflect intentional inventory reductions or potential challenges in inventory turnover efficiency.
Peer comparison
Jun 30, 2025
Jun 30, 2025