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AI brief of an SEC Form 8-K · Vicor (VICR)

Vicor Q1 2024 revenue falls 14.3% to $83.9 million; net income drops to $2.6 million

Negative Impact 4 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyVicor (VICR)
Form8-K, current report
Filed with the SECApr 23, 2024, 4:33 PM ET
Accession number0001193125-24-107125

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.