Every material Form 8-K Vicor has filed with the SEC since April 25, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Vicor reported results for the third quarter ended September 30, 2026, with product and royalty revenue of $197.1 million, up 78.5% from $110.4 million a year earlier. Net income was $63.3 million, or $1.33 per diluted share, compared with $0.63 a year earlier, and backlog reached $406 million, up 166% from a year ago. Cash and cash equivalents rose to $513.1 million at quarter end, which shows the company's earnings growth is also reflected in its balance sheet.
Product and royalty revenue was $197.1 million, up 37.5% from $143.4 million in Q2 2026 and up 78.5% from $110.4 million a year earlier.
Net income was $63.3 million, or $1.33 per diluted share, versus $0.63 per diluted share a year earlier.
Gross margin was 68.3% of revenue, compared with 57.5% a year earlier, while operating expenses rose to $62.5 million.
Backlog was $406 million at September 30, 2026, and cash and cash equivalents were $513.1 million.
Vicor reported second-quarter 2026 results on July 21, 2026. Net income rose to $49.8 million, or $1.04 per diluted share, from $41.2 million, or $0.91 per diluted share, a year earlier, and backlog reached $380 million, up 145% from $155 million a year ago. The year-ago quarter included a $45.0 million patent litigation settlement, and the filing gives no revenue or earnings guidance for future periods.
Product and royalty revenue was $143.4 million, up 26.9% from $113.0 million in the first quarter of 2026.
Net income was $49.8 million, or $1.04 per diluted share, versus $41.2 million, or $0.91 per diluted share, in Q2 2025.
Gross margin was $83.1 million, down from $92.1 million a year earlier, which included the $45.0 million settlement.
Cash and cash equivalents were $453.6 million as of June 30, 2026, up from $404.2 million as of March 31, 2026.
Vicor reported first-quarter 2026 revenue of $113.0 million, up 20.2% from a year earlier, with net income of $20.7 million, or $0.44 per diluted share, versus $2.5 million, or $0.06 per share, a year ago. Backlog rose 75% year over year to $301 million, and management cited rising demand and a second fab plan, though operating cash flow was negative $3.9 million after a $28.6 million litigation payment.
Revenue of $113.0 million, up 20.2% from $94.0 million a year ago and up 5.3% from $107.3 million in the fourth quarter of 2025.
Net income of $20.7 million, or $0.44 per diluted share, versus $46.5 million, or $1.01 per diluted share, in the fourth quarter of 2025, which included a $27.3 million tax benefit.
Cash flow used for operations was $(3.9) million, net of a $28.6 million payment of an award for past litigation.
Backlog totaled $301 million at March 31, 2026, up 75% from a year earlier and 70% from $177 million at year-end 2025.
Vicor reported fourth-quarter 2025 net income of $46.5 million, or $1.01 per diluted share, up from $10.2 million, or $0.23, a year earlier. The result included a $27.3 million tax benefit from the partial recognition of deferred tax assets. Product revenue rose 15.3% to $92.7 million, while royalty revenue fell 7.8% to $14.5 million.
Q4 product revenue was $92.7 million, up 15.3% from $80.4 million a year earlier.
Q4 royalty revenue was $14.5 million, down 7.8% year over year and down sequentially after a catch-up amount in Q3.
Full-year 2025 net income was $118.6 million, or $2.61 per diluted share, including a $24.0 million tax benefit.
Cash and cash equivalents were $402.8 million at December 31, 2025; Q4 backlog was $176.9 million.
Vicor reported third-quarter 2025 revenue of $110.4 million, up 18.5% from a year earlier but down 21.7% from the second quarter, which included a $45.0 million patent litigation settlement. Net income was $28.3 million, or $0.63 per diluted share, compared with $11.6 million, or $0.26, a year earlier, so profit improved year over year even as it fell from the settlement-boosted second quarter.
Revenue of $110.4 million, up 18.5% from $93.2 million a year earlier and down from $141.0 million in Q2 2025, which included the $45.0 million settlement.
Net income of $28.3 million, or $0.63 per diluted share, versus $11.6 million, or $0.26, a year earlier and $41.2 million, or $0.91, in Q2 2025.
Gross margin of 57.5% of revenue, up from 49.1% a year earlier and down from 65.3% in Q2 2025.
Cash and cash equivalents of about $362.4 million at September 30, 2025; stock repurchases totaled $15.6 million in the quarter.
Vicor reported second-quarter 2025 revenue of $141.0 million, up 64.3% from a year earlier, and net income of $41.2 million, or $0.91 per diluted share, versus a net loss of $1.2 million a year earlier. The results include a $45.0 million patent litigation settlement, so part of the improvement came from a one-time item, and backlog fell 9.6% sequentially to $155.2 million.
Q2 2025 revenue of $141.0 million, up from $85.9 million a year earlier, including a $45.0 million patent litigation settlement
Net income of $41.2 million, or $0.91 per diluted share, compared with a net loss of $1.2 million, or $0.03 per diluted share, a year earlier
Gross margin of 65.3%, up from 49.8% a year earlier; cash and cash equivalents of $338.5 million at June 30, 2025
Backlog of $155.2 million at June 30, 2025, down 9.6% from $171.7 million at March 31, 2025
Vicor reported first-quarter 2025 results for the period ended March 31, 2025. Revenue rose 12.0% from a year earlier but fell 2.3% from the fourth quarter of 2024, and the company swung to net income of $2.5 million, or $0.06 per diluted share, from a net loss of $14.5 million a year earlier. Gross margin fell to 47.2% from 53.8% a year earlier, and the filing gives no guidance for future periods.
Net revenues were $94.0 million, up 12.0% from $83.9 million a year earlier and down 2.3% from $96.2 million in Q4 2024.
Net income was $2.5 million, or $0.06 per diluted share, versus a net loss of $14.5 million, or $0.33 per share, a year earlier; Q4 2024 net income was $10.2 million, or $0.23 per share.
Gross margin was 47.2% of revenue, down from 53.8% a year earlier and 52.4% in Q4 2024.
Cash flow from operations was $20.1 million, and cash and cash equivalents were approximately $296.1 million at March 31, 2025.
Vicor reported fourth-quarter 2024 net revenue of $96.2 million, up 3.8% from a year earlier, with net income of $10.2 million, or $0.23 per diluted share, versus $0.19 a year earlier. For the full year, revenue fell 11.4% to $359.1 million and net income dropped to $6.1 million, or $0.14 per diluted share, from $53.6 million, or $1.19, after a $19.5 million litigation-contingency expense. Shareholders see improving quarterly results but a sharp decline for the year.
Q4 2024 net revenue $96.2 million, up 3.8% from $92.7 million a year earlier
Q4 2024 net income $10.2 million, or $0.23 per diluted share, versus $0.19 a year earlier
Full-year 2024 net income $6.1 million, or $0.14 per diluted share, versus $1.19 in 2023
Full-year 2024 included a $19.5 million litigation-contingency expense; Q4 operating cash flow was $10.1 million versus $21.5 million a year earlier
Vicor reported third-quarter 2024 revenue of $93.2 million, down 13.6% from a year earlier but up 8.5% from the second quarter. Net income was $11.6 million, or $0.26 per diluted share, versus $16.6 million, or $0.37, a year earlier. For the nine months, the company posted a net loss of $4.1 million, or $0.09 per diluted share, after a $19.5 million litigation-contingency expense.
Q3 2024 revenue $93.2 million, down 13.6% year over year and up 8.5% from Q2 2024 ($85.9 million)
Q3 2024 net income $11.6 million, or $0.26 per diluted share, compared with $16.6 million, or $0.37, in Q3 2023
Nine-month 2024 net loss of $4.1 million, or $0.09 per share, including $19.5 million litigation-contingency expense
Backlog $150.6 million at September 30, 2024, down 13.8% year over year; cash and equivalents $267.6 million
Vicor reported second-quarter 2024 revenue of $85.9 million, down 19.6% from a year earlier but up 2.4% from the first quarter, and a net loss of $1.2 million, or $0.03 per diluted share, compared with net income of $17.1 million, or $0.38 per share, a year ago. The loss narrowed from a $14.5 million net loss in the first quarter, and the filing notes a $2.3 million litigation-contingency expense in the quarter, with accrued litigation rising to $26.2 million from $6.5 million at December 31, 2023.
Q2 2024 revenue $85.9 million, down 19.6% year over year and up 2.4% sequentially
Net loss $1.2 million ($0.03 per diluted share) vs. net income $17.1 million ($0.38) a year ago; Q1 2024 net loss was $14.5 million
Gross margin 49.8% vs. 51.7% a year ago; backlog $153.8 million, down 29.2% year over year
Cash and cash equivalents $251.9 million at June 30, 2024; Q2 cash flow from operations $15.6 million
Vicor reported first-quarter 2024 revenue of $83.9 million, down 14.3% from a year earlier, and net income of $2.6 million, or $0.06 per diluted share, versus $11.2 million, or $0.25, a year ago. Operating expenses rose to $44.0 million, mainly from higher legal expenses, which shrank operating income to $1.1 million, so shareholders face weaker profit even though gross margin improved.
Revenue was $83.9 million, down 14.3% from $97.8 million a year earlier and down 9.5% from $92.7 million in the fourth quarter of 2023.
Net income was $2.6 million, or $0.06 per diluted share, compared with $11.2 million, or $0.25 per diluted share, in the first quarter of 2023.
Gross margin rose to 53.8% of revenue from 47.6% a year earlier, while operating expenses rose to $44.0 million from $36.1 million, primarily due to higher legal expenses.
Backlog was $150.3 million at March 31, 2024, down 44.6% from $271.3 million a year earlier; cash and cash equivalents were $239.2 million.
Vicor reported fourth-quarter and full-year 2023 results in a press release furnished under Item 2.02. Fourth-quarter revenue fell from a year earlier and from the third quarter, while net income and diluted earnings per share rose year over year; full-year revenue and profit both grew. Backlog fell 47.2% from a year earlier to $160.8 million, a figure shareholders may weigh against the weaker quarterly sales.
Q4 2023 revenue was $92.7 million, down 12.2% from $105.5 million a year earlier and 14.1% from $107.8 million in Q3 2023.
Q4 2023 net income was $8.7 million, or $0.19 per diluted share, versus $8.1 million, or $0.18, a year earlier.
Full-year 2023 revenue rose 1.5% to $405.1 million; net income was $53.6 million, or $1.19 per diluted share, versus $0.57 in 2022.
Backlog at December 31, 2023 was $160.8 million, down 47.2% from $304.4 million a year earlier.
Vicor reported third-quarter 2023 revenue of $107.8 million, up 4.6% from a year earlier, and net income of $16.6 million, or $0.37 per diluted share, versus $1.8 million, or $0.04, a year ago. Backlog fell 53.0% from a year earlier to $174.7 million, and the CEO said Q3 bookings remained weak, which is a concern for future revenue even though current profit improved.
Q3 2023 revenue $107.8 million, up 4.6% year over year and up 1.0% sequentially
Q3 2023 net income $16.6 million, or $0.37 per diluted share, versus $0.04 a year earlier
Backlog $174.7 million at September 30, 2023, down 53.0% year over year and 19.6% sequentially
Cash and cash equivalents of approximately $227.8 million at September 30, 2023
Vicor reported second-quarter 2023 revenue of $106.7 million, up 4.5% from a year earlier, and net income of $17.1 million, or $0.38 per diluted share, versus $10.6 million, or $0.24, a year earlier. Backlog fell 47.0% year over year to $217.3 million, and CEO Dr. Patrizio Vinciarelli said Q2 bookings remained weak, with a new AI platform now expected to ramp in Q4.
Q2 2023 revenue $106.7 million, up 4.5% from $102.2 million a year earlier and up 9.1% from $97.8 million in Q1 2023
Q2 2023 net income $17.1 million, or $0.38 per diluted share, versus $10.6 million, or $0.24, a year earlier
Backlog $217.3 million at June 30, 2023, down 47.0% from a year earlier and down 19.9% from $271.3 million at March 31, 2023
Cash and cash equivalents of approximately $203.8 million at June 30, 2023; the filing gives no revenue or EPS guidance
Vicor's stockholders re-elected all twelve director nominees at the June 23, 2023 annual meeting and approved, on an advisory basis, the compensation of named executive officers. Stockholders also voted for advisory votes on executive pay every three years, which the Board adopted as policy. The filing also discloses the annual director stock option grant, now sized at $200,000 per director rather than $100,000.
All twelve director nominees were elected to serve until the 2024 annual meeting; Patrizio Vinciarelli received 135,823,033 votes for and 6,912,058 withheld.
Say-on-pay proposal passed with 141,019,623 votes for, 1,119,558 against and 595,910 abstaining.
Stockholders chose a three-year frequency for advisory executive compensation votes; the Board adopted this policy.
Directors received options on 3,769 shares at $53.07 per share, with the grant formula changed from $100,000 to $200,000 of value.
Vicor reported first-quarter 2023 results for the period ended March 31, 2023, with revenue up 10.8% year over year to $97.8 million and net income of $11.2 million, or $0.25 per diluted share, versus $5.0 million, or $0.11, a year earlier. Revenue fell 7.3% from the fourth quarter of 2022, and backlog declined 36.0% year over year to $271.3 million, so the picture is mixed beyond the year-over-year profit gain.
Revenue of $97.8 million, up 10.8% from $88.3 million a year earlier but down 7.3% from $105.5 million in Q4 2022
Net income of $11.2 million, or $0.25 per diluted share, compared with $5.0 million, or $0.11, a year earlier
Gross margin of 47.6% of revenue, up from 42.6% a year earlier; backlog of $271.3 million, down 36.0% from $423.7 million a year earlier
Cash and cash equivalents of approximately $192.9 million as of March 31, 2023; the company's conference call is set for 5:00 p.m. Eastern Time on April 25, 2023
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