VICOR CORP
Business
Vicor designs, develops, manufactures, and markets modular power components and power systems that convert and regulate electrical power for electronic devices and infrastructure. The company offers Advanced Products—proprietary Factorized Power Architecture modules for high-performance computing, aerospace, defense, and telecommunications—and Brick Products, integrated DC-DC and AC-DC converters for conventional power architectures across aerospace, defense, industrial, and transportation markets. Advanced Products represent a majority of revenue; the company also generates licensing and royalty revenue from intellectual property.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total net revenues | 408 | 359 | 405 | 399 | 359 | |
| Patent litigation settlement | 45 | 0 | 0 | — | — | |
| Total net revenues and patent litigation settlement | 453 | 359 | 405 | — | — | |
| Cost of product revenues | 193 | 175 | 200 | 219 | 181 | |
| Gross margin | 259 | 184 | 205 | 181 | 178 | |
| Selling, general and administrative | 99 | 97 | 86 | 86 | 69 | |
| Research and development | 79 | 69 | 68 | 61 | 53 | |
| Litigation-contingency expense | 0 | 20 | 0 | 7 | 0 | |
| Total operating expenses | 178 | 185 | 154 | 153 | 123 | |
| Income (loss) from operations | 82 | −1 | 51 | 27 | 56 | |
| Total unrealized (losses) gains on available-for-sale securities, net | −179,000 | 111,000 | −92,000 | −17,000 | 122,000 | |
| Portion of losses (gains) recognized in other comprehensive income | 179,000 | −111,000 | 92,000 | 20,000 | −118,000 | |
| Net credit gains recognized in earnings | 0 | 0 | 0 | 3,000 | 4,000 | |
| Other income (expense), net | 13 | 12 | 9 | 1 | 1 | |
| Total other income (expense), net | 13 | 12 | 9 | 1 | 1 | |
| Income before income taxes | 95 | 10 | 60 | 29 | 57 | |
| Less: (Benefit) provision for income taxes | −24 | 4 | 7 | 3 | 176,000 | |
| Consolidated net income | 119 | 6 | 54 | 25 | 57 | |
| Less: Net income attributable to noncontrolling interest | 40,000 | 10,000 | 5,000 | −20,000 | 4,000 | |
| Net income attributable to Vicor Corporation | 119 | 6 | 54 | 25 | 57 | |
| Basic (per share) | 2.63 | 0.14 | 1.21 | 0.58 | 1.3 | |
| Diluted (per share) | 2.61 | 0.14 | 1.19 | 0.57 | 1.26 | |
| Basic (shares) | 45 | 45 | 44 | 44 | 44 | |
| Diluted (shares) | 45 | 45 | 45 | 45 | 45 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 403 | 277 | 242 | 191 | 182 | |
| Accounts receivable, less allowance of $137 in 2025 and $130 in 2024 | 61 | 53 | 53 | 65 | 55 | |
| Inventories | 91 | 106 | 107 | 101 | 67 | |
| Other current assets | 33 | 27 | 19 | 5 | 7 | |
| Total current assets | 587 | 463 | 420 | 363 | 357 | |
| Deferred tax assets | 27 | 261,000 | 296,000 | 280,000 | 208,000 | |
| Long-term investment, net | 2 | 3 | 3 | 3 | 3 | |
| Property, plant and equipment, net | 148 | 153 | 158 | 166 | 116 | |
| Other assets | 21 | 22 | 14 | 5 | 2 | |
| Total assets | 786 | 641 | 595 | 537 | 477 | |
| Accounts payable | 12 | 9 | 12 | 22 | 21 | |
| Accrued compensation and benefits | 12 | 11 | 11 | 11 | 13 | |
| Accrued litigation | 28 | 27 | 7 | 7 | 0 | |
| Accrued expenses | 4 | 7 | 5 | 9 | 4 | |
| Sales allowances | 3 | 2 | 3 | 2 | 1 | |
| Short-term lease liabilities | 2 | 2 | 2 | 1 | 2 | |
| Income taxes payable | 904,000 | 59,000 | 746,000 | 72,000 | 66,000 | |
| Short-term deferred revenue and customer prepayments | 3 | 5 | 3 | 13 | 8 | |
| Total current liabilities | 65 | 62 | 44 | 65 | 49 | |
| Long-term income taxes payable | 3 | 3 | 2 | 862,000 | 569,000 | |
| Long-term lease liabilities | 6 | 6 | 6 | 7 | 3 | |
| Total liabilities | 74 | 71 | 54 | 73 | 53 | |
| Commitments and contingencies (Note 16) | — | — | — | — | — | |
| Additional paid-in capital | 462 | 408 | 384 | 360 | 346 | |
| Retained earnings | 421 | 303 | 297 | 243 | 218 | |
| Accumulated other comprehensive loss | −2 | −1 | −1 | −988,000 | −1 | |
| Treasury stock at cost: 12,378,224 shares in 2025 and 11,649,110 shares in 2024 | −171 | −139 | −139 | −139 | −139 | |
| Total Vicor Corporation stockholders' equity | 712 | 570 | 541 | 464 | 424 | |
| Noncontrolling interest | 259,000 | 220,000 | 237,000 | 248,000 | 306,000 | |
| Total equity | 712 | 570 | 541 | 464 | 424 | |
| Total liabilities and equity | 786 | 641 | 595 | 537 | 477 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 21 | 19 | 17 | 14 | 12 | |
| Stock-based compensation expense | 17 | 15 | 13 | 10 | 7 | |
| Loss on disposal of fixed assets | 839,000 | 0 | 0 | — | — | |
| Provision for doubtful accounts | 7,000 | 0 | 43,000 | 5,000 | 0 | |
| Deferred income taxes | −27 | 6,000 | −34,000 | −72,000 | 18,000 | |
| (Decrease) increase in long-term deferred revenue | 0 | −1 | 875,000 | −268,000 | −320,000 | |
| Decrease (increase) in other assets | 413,000 | 1 | −192,000 | — | — | |
| (Decrease) increase in long-term income taxes payable | −302,000 | 1 | 1 | 293,000 | −74,000 | |
| Accounts receivable | −8 | −483,000 | 13 | −11 | −14 | |
| Inventories | 15 | 457,000 | −5 | −34 | −10 | |
| Other current assets | −2 | −8 | −539,000 | 2 | 10,000 | |
| Accounts payable and accrued liabilities | 3 | −2 | −11 | 4 | 3 | |
| Accrued severance and other charges | 1 | −9,000 | 9,000 | −93,000 | 93,000 | |
| Short-term lease liabilities | 160,000 | 131,000 | 583,000 | 103,000 | 4,000 | |
| Income taxes payable | 845,000 | −684,000 | 674,000 | 6,000 | −73,000 | |
| Deferred revenue and customer prepayments | −417,000 | 340,000 | −8 | 5 | 1 | |
| Net cash provided by operating activities | 140 | 51 | 75 | 23 | 54 | |
| Additions to property, plant and equipment and internal-use software | −20 | −24 | −33 | −64 | −48 | |
| Net cash used for investing activities | −20 | −24 | −33 | −19 | −44 | |
| Proceeds from employee stock plans | 41 | 8 | 11 | 4 | 10 | |
| Repurchases of Common Stock | −35 | −497,000 | 0 | 0 | — | |
| Net cash provided by financing activities | 6 | 8 | 11 | 4 | 10 | |
| Effect of foreign exchange rates on cash | −18,000 | −179,000 | −70,000 | −219,000 | −197,000 | |
| Net increase in cash and cash equivalents | 126 | 35 | 52 | 8 | 21 | |
| Cash paid during the year for income taxes, net of refunds | 5 | 4 | 4 | 1 | 645,000 | |
| Purchases of property, plant and equipment and internal-use software incurred but not yet paid | 1 | 2 | 2 | 4 | 5 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is VICOR CORP's CIK number?
VICOR CORP's SEC CIK number is 0000751978 (751978). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find VICOR CORP's SEC filings?
All of VICOR CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did VICOR CORP last report earnings?
VICOR CORP (VICR) most recently filed an earnings 8-K with the SEC on Apr 21, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-165105). This is VICOR CORP's most recent earnings filing of record — not a forecast of its next earnings date.
What is VICOR CORP's most recent earnings 8-K?
VICOR CORP's latest earnings 8-K (Item 2.02) was filed Apr 21, 2026 under accession 0001193125-26-165105. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View VICOR CORP's latest earnings 8-K →
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