GlobeNewswire·Oct 21, 2025, 4:05 PM ET

Vicor Corporation Reports Results for the Third Quarter Ended September 30, 2025

VICR

Vicor Corporation reported third quarter 2025 financial results with product revenues & licensing income totaling $110.4 million, an 18.5% increase year-over-year but a 21.7% sequential decrease from Q2 2025 due to a $45.0 million patent litigation settlement in Q2.
Gross margin rose to $63.5 million (57.5% of revenue) for Q3 2025, up from $45.7 million (49.1%) a year ago, yet down sequentially from $92.1 million in Q2 2025.
Operating expenses increased to $42.6 million in Q3 2025 compared to $40.4 million a year ago, while decreasing sequentially from $46.7 million in Q2 2025.
Net income for the quarter was $28.3 million, or $0.63 per diluted share, compared to $11.6 million ($0.26 per share) in the prior year period & $41.2 million ($0.91 per share) in Q2 2025.
Cash flow from operations totaled $38.5 million in Q3 2025, up from $22.6 million a year ago but down from $65.2 million in Q2 2025.
Capital expenditures were $4.0 million in Q3 2025, down from $8.4 million a year ago & $6.2 million in Q2 2025.
Stock repurchases totaled $15.6 million in Q3 2025, compared to $17.5 million in Q2 2025.
Cash & cash equivalents increased 7.0% sequentially to approximately $362.4 million as of September 30, 2025.
Backlog totaled $152.8 million at the end of Q3 2025, representing a 1.5% increase year-over-year & a 1.5% decrease sequentially from Q2 2025.
CEO Dr. Patrizio Vinciarelli noted record licensing revenue rates in Q3 following the prior quarter's litigation settlement & expects substantial growth in IP licensing as OEMs & hyper-scalers require licenses for high-density power systems.
The company highlighted its first ChiP foundry delivering 98% final test yields for mass-produced modules, with expectations for capacity utilization exceeding $1 billion annually.
Vicor will host an investor conference call on October 21, 2025, at 5:00 p.m. Eastern Time, with registration & webcast details available via Notified & the company's Investor Relations website.