Every material Form 8-K Vicor filed with the SEC in 2024, 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 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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Vicor filing is on SEC EDGAR ↗. 8-K briefs of other companies →