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Get filing alertsVicor reports Q2 revenue $143.4M (+27% QoQ), net income $49.8M ($1.04/share), backlog $380M (+145% YoY)
Filed July 21, 2026 · Period ending July 21, 2026 · ~1 min read
Key Changes
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high
Q2 revenue $143.4M, up 26.9% sequentially from $113.0M in Q1; net income $49.8M or $1.04/share, more than doubled from Q1's $20.7M or $0.44/share.
Exhibit 99.1 view on EDGAR → -
high
Backlog reached $380M at quarter end, up 26% sequentially from $301M and up 145% year-over-year from $155M, signaling strong demand across target markets.
Exhibit 99.1 view on EDGAR → -
high
Company approaching full capacity utilization in first ChiP fab and taking steps toward a second fab for 2nd Gen VPD ChiPs to support rising demand in high-performance compute, test equipment, and industrial/aerospace/defense applications.
Exhibit 99.1 view on EDGAR → -
medium
Gross margin improved to 58.0% in Q2 from 55.2% in Q1; operating cash flow recovered to $34.0M from Q1's $(3.9)M (which included a $28.6M litigation payment).
Exhibit 99.1 view on EDGAR → -
medium
Cash and equivalents grew 12.2% sequentially to $453.6M at quarter end; capex was $11.2M in Q2.
Exhibit 99.1 view on EDGAR →
Summary
Vicor delivered strong Q2 2026 results with revenue of $143.4 million, up 27% sequentially, and net income more than doubling to $49.8 million or $1.04 per share. The sequential improvement reflects both volume growth and margin expansion, with gross margin rising to 58.0% from 55.2% in Q1.
Backlog surged to $380 million, up 145% year-over-year, indicating robust demand across the company's key end markets including high-performance computing, automatic test equipment, and industrial/aerospace/defense applications.
The most significant forward-looking development is management's disclosure that the first ChiP fab is approaching full capacity utilization, prompting steps toward a second fab for 2nd generation VPD ChiPs. This signals both strong demand visibility and upcoming capital investment to support growth. With $453.6 million in cash and strong operating cash flow of $34.0 million in Q2, Vicor appears well-positioned to fund this expansion. Investors should watch for details on the timing, scale, and expected returns of the second fab investment in coming quarters.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Vicor announced Q2 2026 financial results via press release.
Added in current filing · verify on EDGAR →
On July 21, 2026, Vicor Corporation issued a press release announcing its financial results for the three and six months ended June 30, 2026.
Vicor disclosed its second quarter 2026 financial results. The 8-K body itself does not contain the actual financial figures—those appear in the attached press release (Exhibit 99.1), which was not provided in this filing excerpt.
Event · Exhibit 99.1
Vicor reported Q2 2026 results: revenue $143.4M (+26.9% QoQ), net income $49.8M ($1.04/share), backlog $380M (+145% YoY), expanding ChiP fab capacity.
Added in current filing · view on EDGAR →
Product and royalty revenues for the second quarter ended June 30, 2026 totaled $143.4 million, a 26.9% sequential increase from $113.0 million in the first quarter of 2026, compared to $141.0 million from product revenues, royalty revenues and a patent litigation settlement of $45.0 million for the corresponding period a year ago. ... Net income for the second quarter was $49.8 million, or $1.04 per diluted share, compared to net income of $20.7 million, or $0.44 per diluted share, for the first quarter of 2026 and net income of $41.2 million or $0.91 per diluted share, for the corresponding period a year ago.
Vicor reported Q2 2026 revenue of $143.4 million, up 26.9% sequentially from Q1 2026's $113.0 million. Net income was $49.8 million or $1.04 per diluted share, more than doubling from Q1 2026's $20.7 million or $0.44 per share. Year-over-year comparisons are complicated by a $45.0 million patent litigation settlement in Q2 2025.
Added in current filing · view on EDGAR →
Gross margin increased sequentially to $83.1 million for the second quarter of 2026, compared to $62.4 million for the first quarter of 2026, and decreased from $92.1 million for the corresponding period a year ago. Gross margin, as a percentage of revenue, increased to 58.0% for the second quarter of 2026, compared to 55.2% for the first quarter of 2026. Gross margin decreased from 65.3% for the corresponding period a year ago which included the aforementioned $45.0 million patent litigation settlement.
Gross margin improved to $83.1 million (58.0% of revenue) in Q2 2026 from $62.4 million (55.2%) in Q1 2026. The year-ago Q2 2025 gross margin of 65.3% included a $45.0 million patent litigation settlement, making direct comparison difficult.
Added in current filing · view on EDGAR →
Cash flow from operations totaled $34.0 million for the second quarter, compared to cash flow used for operations of $(3.9) million in the first quarter of 2026, which included the impact of a $28.6 million payment of an award for past litigation, and cash flow from operations of $65.2 million for the corresponding period a year ago. Capital expenditures for the second quarter totaled $11.2 million, compared to $12.4 million for the first quarter of 2026 and $6.2 million for the corresponding period a year ago. Cash and cash equivalents as of June 30, 2026 increased 12.2% sequentially to approximately $453.6 million compared to approximately $404.2 million as of March 31, 2026.
Operating cash flow was $34.0 million in Q2 2026, recovering from Q1 2026's $(3.9) million which included a $28.6 million litigation payment. Capital expenditures were $11.2 million. Cash and equivalents grew 12.2% sequentially to $453.6 million at quarter end.
Added in current filing · view on EDGAR →
Rising demand across high-performance compute, automatic test equipment, and industrial, aerospace and defense applications is absorbing increased capacity within our first ChiP fab. As we get closer to full capacity utilization, we are taking steps toward a second fab for high current density 2nd Gen VPD ChiPs.
CEO Dr. Vinciarelli stated that rising demand across multiple applications is absorbing capacity in the company's first ChiP fab. As utilization approaches full capacity, Vicor is taking steps toward a second fab for 2nd Gen VPD ChiPs, indicating significant capital investment ahead to support growth.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 22, 2026 · How we verify