Name: Abiomed Inc. (NASDAQ:ABMD) | Analysis of Inventory
Creator: Stock Analysis on Net

Analysis of Inventory

Inventory Disclosure

Inventory Disclosure

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Abiomed Inc., balance sheet: inventory

US$ in thousands

	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018	Mar 31, 2017
Raw materials and supplies	28,326)	27,782)	31,411)	24,468)	16,481)	9,784)
Work-in-progress	34,788)	35,187)	35,008)	35,195)	23,179)	16,504)
Finished goods	30,867)	18,090)	23,669)	21,279)	10,544)	8,643)
Inventories, net	93,981)	81,059)	90,088)	80,942)	50,204)	34,931)

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

Total net inventories exhibited a consistent upward trajectory from March 31, 2017, to March 31, 2022, increasing from $34.9 million to $94.0 million. While the growth was most aggressive between 2017 and 2020, a brief contraction occurred in 2021 before the balance reached a five-year peak in 2022.

Overall Inventory Value: Net inventories grew by approximately 169% over the analyzed period. The most significant expansion occurred between 2018 and 2019, during which the total value rose from $50.2 million to $80.9 million, representing a year-over-year increase of over 60%.
Raw Materials and Supplies: Investment in raw materials and supplies expanded rapidly from $9.8 million in 2017 to a peak of $31.4 million in 2020. Following this peak, the values stabilized, ending at $28.3 million in 2022, suggesting a transition from an accumulation phase to a maintenance phase of supply chain management.
Work-in-Progress (WIP): The WIP balance increased from $16.5 million in 2017 to $35.2 million in 2019. Notably, from 2019 through 2022, WIP remained remarkably stable, fluctuating minimally around the $35 million mark. This indicates a consistent production throughput and a stabilized manufacturing cycle over the final four years of the period.
Finished Goods Volatility: Finished goods inventory showed the highest relative volatility among all categories. After rising from $8.6 million in 2017 to $23.7 million in 2020, the balance declined to $18.1 million in 2021 before surging to a period high of $30.9 million in 2022. This pattern suggests fluctuations in shipment timing or strategic inventory buildup to meet anticipated demand.

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