VICOR CORP Q1 FY26 Results

Summary

Vicor Corporation reported financial results for the first quarter ended March 31, 2026. Product and royalty revenues totaled $113.0 million, a 20.2% increase year-over-year. Gross margin increased to $62.4 million, with gross margin as a percentage of revenue increasing to 55.2%. Net income for the quarter was $20.7 million, or $0.44 per diluted share, compared to $2.5 million, or $0.06 per diluted share, in the prior year. Backlog reached $301 million, a 75% increase year-over-year and a 70% sequential increase.

Key Highlights

1. 1

   Product and royalty revenues for the first quarter totaled $113.0 million, a 20.2% increase year-over-year.

2. 2

   Gross margin increased to $62.4 million for the first quarter of 2026, compared to $44.4 million for the corresponding period a year ago.

3. 3

   Gross margin, as a percentage of revenue, increased to 55.2% for the first quarter of 2026, compared to 47.2% for the corresponding period a year ago.

4. 4

   Net income for the first quarter was $20.7 million, or $0.44 per diluted share, compared to net income of $2.5 million, or $0.06 per diluted share, for the corresponding period a year ago.

5. 5

   Backlog for the first quarter ended March 31, 2026 totaled $301 million, a 75% increase from $172 million for the corresponding period a year ago.

6. 6

   Backlog increased 70% sequentially from $177 million at the end of the fourth quarter of 2025.