Innovotech (TSXV:IOT) Inventory Turnover : 1.41 (As of Sep. 2024)

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What is Innovotech Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Innovotech's Cost of Goods Sold for the three months ended in Sep. 2024 was C$0.12 Mil. Innovotech's Average Total Inventories for the quarter that ended in Sep. 2024 was C$0.09 Mil. Innovotech's Inventory Turnover for the quarter that ended in Sep. 2024 was 1.41.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Innovotech's Days Inventory for the three months ended in Sep. 2024 was 64.86.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Innovotech's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 0.20.

Innovotech Inventory Turnover Historical Data

The historical data trend for Innovotech's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Innovotech Inventory Turnover Chart

Innovotech Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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11.64

10.69

7.33

6.78

6.63

Innovotech Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Inventory Turnover	Get a 7-Day Free Trial															1.56	1.75	1.25	1.45	1.41

Innovotech Inventory Turnover Calculation

Innovotech's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	0.371	/ (	(0.042	+	0.07)	/	2 )
=	0.371	/	0.056
=	6.63

Innovotech's Inventory Turnover for the quarter that ended in Sep. 2024 is calculated as

	Inventory Turnover (Q: Sep. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Sep. 2024 )	/ (	(Total Inventories (Q: Jun. 2024 )	+	Total Inventories (Q: Sep. 2024 ))	/	count )
=	0.121	/ (	(0.078	+	0.094)	/	2 )
=	0.121	/	0.086
=	1.41

Innovotech (TSXV:IOT) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Innovotech's Days Inventory for the three months ended in Sep. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2024 )	/	Cost of Goods Sold (Q: Sep. 2024 )	*	Days in Period
	=	0.086	/	0.121	*	365 / 4
	=	64.86

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Innovotech's Inventory to Revenue for the quarter that ended in Sep. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	0.086	/	0.436
	=	0.20

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Innovotech Inventory Turnover Related Terms

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Innovotech Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

2011 - 94 Street, Suite L131, Edmonton, AB, CAN, T6N 1H1

Website

https://www.innovotech.ca

Innovotech Inc is a Canada-based company that provides solutions to client biofilm problems through its biofilm contract research department. The core activities of the company are sales of its products, conducting contract research for outside customers, and research and development to identify products for future commercialization. The products of the company include human and fungal biofilm susceptibility tests, a seed treatment designed to combat bacterial and fungal diseases, and an assay used in growing microbial biofilms for research purposes. Geographically, the firm has a business presence in the United States, Canada, and the Rest of the world of which the majority of the revenue is derived from the United States.

Executives

James Gregory Timourian	Senior Officer
Alan Clyde Hayes Savage	10% Security Holder
Craig Milne	Director
David Shong-tak Tam	Director
Bernard Grobbelaar	Director