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Vicor Corporation Reports Results for the First Quarter Ended March 31, 2026

VICR
  • Vicor Corporation reported first-quarter 2026 financial results for the period ended March 31, 2026, to be discussed on April 21, 2026.
  • Product & royalty revenues totaled $113.0 million, representing a 20.2% year-over-year increase & a 5.3% sequential increase.
  • Gross margin reached $62.4 million (55.2% of revenue), up from $44.4 million in the prior year period.
  • Operating expenses increased to $45.5 million, compared to $44.5 million in the same period last year.
  • Net income was $20.7 million ($0.44 per diluted share), compared to $2.5 million ($0.06 per share) in the prior year period.
  • Cash flow from operations was $(3.9) million, primarily impacted by a $28.6 million litigation award payment.
  • Capital expenditures for the quarter totaled $12.4 million, up from $4.6 million in the prior year period.
  • Cash & cash equivalents increased to approximately $404.2 million as of March 31, 2026.
  • Backlog rose to $301 million, a 75% year-over-year increase & a 70% sequential increase.
  • CEO Dr. Patrizio Vinciarelli cited rising demand in high-performance compute, automatic test equipment, & aerospace applications as drivers for the backlog growth.
  • The company is expanding capacity with equipment in its first CHiP fab & planning a second fab to ensure redundant access to VPD power system technology.
  • The company noted that preventing unlawful importation of infringing computing systems is positively affecting the market.