Cardiol Therapeutics (TSX:CRDL) Accounts Receivable : C$0.15 Mil (As of Mar. 2024)

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What is Cardiol Therapeutics Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Cardiol Therapeutics's accounts receivables for the quarter that ended in Mar. 2024 was C$0.15 Mil.

Accounts receivable can be measured by Days Sales Outstanding.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Cardiol Therapeutics's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was C$0.26.

Cardiol Therapeutics Accounts Receivable Historical Data

The historical data trend for Cardiol Therapeutics's Accounts Receivable 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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Cardiol Therapeutics Accounts Receivable Chart

Cardiol Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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0.01

0.07

0.21

0.14

Cardiol Therapeutics Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Accounts Receivable	Get a 7-Day Free Trial															0.20	0.19	0.18	0.14	0.15

Cardiol Therapeutics Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Cardiol Therapeutics Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Cardiol Therapeutics's Days Sales Outstanding for the quarter that ended in Mar. 2024 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0.154	/	0	*	91
=

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Cardiol Therapeutics's accounts receivable are only considered to be worth 75% of book value:

Cardiol Therapeutics's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2024 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(28.573	+	0.75 * 0.154	+	0.5 * 0	-	11.067
-	0	-	0)	/	68.2837
=	0.26

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Cardiol Therapeutics Accounts Receivable Related Terms

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Cardiol Therapeutics (TSX:CRDL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Cardiol Therapeutics Inc (TSX:CRDL) » Definitions » Accounts Receivable

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Traded in Other Exchanges

CRDL:USA CT9:Germany

Address

2265 Upper Middle Road East, Suite 602, Oakville, ON, CAN, L6H 0G5

Website

https://www.cardiolrx.com

Cardiol Therapeutics Inc is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart diseases. The company's lead product candidate, CardiolRx, is a pharmaceutically manufactured oral cannabidiol formulation that is being clinically developed for use in heart diseases. Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart which are a Phase II multi-national trial, the ARCHER trial, in acute myocarditis; and a Phase II multi-center open-label pilot study in recurrent pericarditis.

Executives

Guillermo Torre

Senior Officer