Vicor Q1 revenue $83.9M (-14.3% YoY), EPS $0.06 vs $0.25; backlog down 45%

VICOR CORP

2024-Q1 EPS reported -$0.33 revenue$83,872,000

Revenue $83.9M, down from $97.8M YoY; net income $2.6M vs $11.2M YoY ($0.06 vs $0.25 diluted EPS).
Gross margin improved to 53.8% from 47.6% YoY; operating expenses rose to $44.0M on higher legal costs.
Backlog fell to $150.3M (-44.6% YoY, -6.5% sequentially); cash flow from operations $2.7M vs $10.1M YoY.
CEO cites IP licensing campaign and legal campaign as strategic focus; expects future revenue from 5G and ChiP foundry.
Cash and equivalents $239.2M, down 1.3% sequentially; capex $7.4M vs $10.1M YoY.

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