VICOR CORP Segments Disclosure
The Company has determined its Chief Operating Decision Maker (“CODM”) to be the . The CEO reviews financial information presented on a consolidated basis for purposes of managing the business, allocating resources, making operating decisions and assessing financial performance. The Company is organized and operates as operating and reportable segment. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net income. The CODM manages the business using information for the single operating segment. All expense categories on the Consolidated Statements of Operations are significant and there are no other significant segment expenses that would require disclosure.
The Company offers a comprehensive range of modular building blocks enabling rapid design of a power system specific to a customer’s precise needs. Based on design, performance, and form factor considerations, as well as the range of
evolving applications for which the products are appropriate, the Company categorizes its product portfolios as either Advanced Products or Brick Products, which constitute one segment. Both product lines are built in the Company’s manufacturing facility in Andover, Massachusetts employing similar processing and production techniques, and are supported by the same sales and marketing organizations. The measure of segment assets is reported on the balance sheet as total consolidated assets.
The following tables present the Company’s total net revenues disaggregated by geography with respect to the Company’s single operating segment for the years ended December 31, 2025, 2024 and 2023 (in thousands):
|
|
Year Ended December 31, |
|
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|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
United States |
|
$ |
200,645 |
|
|
$ |
185,834 |
|
|
$ |
149,456 |
|
Europe |
|
|
42,850 |
|
|
|
41,803 |
|
|
|
59,742 |
|
Asia Pacific |
|
|
162,417 |
|
|
|
129,981 |
|
|
|
192,267 |
|
All other |
|
|
1,789 |
|
|
|
1,440 |
|
|
|
3,594 |
|
|
|
$ |
407,701 |
|
|
$ |
359,058 |
|
|
$ |
405,059 |
|
The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the Consolidated Balance Sheets were located as follows:
|
|
As of December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
|
|
(in thousands) |
|
|||||
United States |
|
$ |
140,700 |
|
|
$ |
146,472 |
|
International |
|
|
6,990 |
|
|
|
6,233 |
|
See the consolidated financial statements and footnotes for other financial information regarding the Company’s operating segment.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Mar 9, 2018 | |
| 2016 | Mar 7, 2017 | |
| 2015 | Mar 8, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.