Vicor Q1 revenue $113M (+20% YoY); net income $20.7M vs $2.5M YoY; backlog surges 70% sequentially to $301M

VICOR CORP

2026-Q1 EPS reported $0.44 revenue$112,969,000

Revenue $113M, up 20.2% YoY and 5.3% sequentially; gross margin 55.2% vs 47.2% YoY.
Net income $20.7M ($0.44/diluted) vs $2.5M ($0.06) YoY; Q4 included $27.3M tax benefit.
Operating CF -$3.9M due to $28.6M litigation payment; capex $12.4M vs $4.6M YoY.
Backlog $301M, up 75% YoY, 70% sequentially; cash $404.2M.
CEO: strong demand across HPC, ATE, industrial/A&D; planning second fab; IP enforcement.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VICOR CORP reported the first quarter ended March 31, 2026 results: revenue $113.0 million, net income $20.7 million, EPS $0.44 per diluted share.

Period: the first quarter ended March 31, 2026
Revenue: $113.0 million
Net income: $20.7 million
EPS: $0.44 per diluted share
Result: reported results

Exact text from the filing

Product and royalty revenues for the first quarter ended March 31, 2026 totaled $113.0 million, a 20.2% increase from $94.0 million for the corresponding period a year ago, and a 5.3% sequential increase from $107.3 million in the fourth quarter of 2025. Gross margin increased to $62.4 million for the first quarter of 2026, compared to $44.4 million for the corresponding period a year ago, and increased sequentially from $59.4 million for the fourth quarter of 2025. Gross margin, as a percentage of revenue, increased to 55.2% for the first quarter of 2026, compared to 47.2% for the corresponding period a year ago, and decreased from 55.4% for the fourth quarter of 2025. Operating expenses increased to $45.5 million for the first quarter of 2026, compared to $44.5 million for the corresponding period a year ago, and increased sequentially from $43.7 million for the fourth quarter of 2025. Net income for the first quarter was $20.7 million, or $0.44 per diluted share, compared to net inc

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Source: SEC EDGAR

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