Innovative Eyewear (Innovative Eyewear) Inventory Turnover : 0.54 (As of Mar. 2024)

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What is Innovative Eyewear 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. Innovative Eyewear's Cost of Goods Sold for the three months ended in Mar. 2024 was $0.38 Mil. Innovative Eyewear's Average Total Inventories for the quarter that ended in Mar. 2024 was $0.70 Mil. Innovative Eyewear's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.54.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Innovative Eyewear's Days Inventory for the three months ended in Mar. 2024 was 168.91.

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. Innovative Eyewear's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 1.82.

Innovative Eyewear Inventory Turnover Historical Data

The historical data trend for Innovative Eyewear'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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Innovative Eyewear Inventory Turnover Chart

Innovative Eyewear Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

18.50

3.88

3.86

4.05

Innovative Eyewear Quarterly Data
	Dec19	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial											0.32	0.29	0.20	1.22	0.54

Innovative Eyewear Inventory Turnover Calculation

Innovative Eyewear'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 )
=	1.271	/ (	(0.095	+	0.533)	/	2 )
=	1.271	/	0.314
=	4.05

Innovative Eyewear's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

	Inventory Turnover (Q: Mar. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2024 )	/ (	(Total Inventories (Q: Dec. 2023 )	+	Total Inventories (Q: Mar. 2024 ))	/	count )
=	0.376	/ (	(0.533	+	0.859)	/	2 )
=	0.376	/	0.696
=	0.54

Innovative Eyewear (NAS:LUCY) 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.

Innovative Eyewear's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2024 )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
	=	0.696	/	0.376	*	365 / 4
	=	168.91

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.

Innovative Eyewear's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	0.696	/	0.383
	=	1.82

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.

Innovative Eyewear Inventory Turnover Related Terms

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Innovative Eyewear (Innovative Eyewear) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Innovative Eyewear Inc (NAS:LUCY) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

11900 Biscayne Boulevard, Suite 630, North Miami, FL, USA, 33138

Website

https://www.lucyd.co

Innovative Eyewear Inc is engaged in developing and selling eyeglasses and sunglasses, which are designed to allow customers to remain connected to their digital lives, while also offering prescription eyewear and sun protection. Its products Lucyd Lyte glasses enable the wearer to listen to music, take and make calls, and use voice assistants to perform many common smartphone tasks hands-free.

Executives

Olivia C. Bartlett	director	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Louis Castro	director	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Konrad Dabrowski	officer: Chief Financial Officer	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Kristen Mclaughlin	director	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Harrison R. Gross	director, officer: Chief Executive Officer	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33131
Frank Rescigna	director	8101 BISCAYNE BLVD., SUITE 705, MIAMI FL 33138
Lucyd Ltd.	10 percent owner	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
David Eric Cohen	officer: Chief Technology Officer	11900 BISCAYNE BLVD., SUITE 705630, MIAMI FL 33131