Vicor reported second-quarter 2026 total net revenues of $143.4 million and GAAP consolidated net income attributable to Vicor of $49.8 million, or $1.04 per diluted share. Gross margin for the quarter was $83.1 million, representing 58.0% of revenue, while income from operations totaled $34.9 million. The company ended the quarter with cash and cash equivalents of $453.6 million and backlog of $380 million.

Financial Highlights

  • Total net revenues: $143.4 million for the quarter ended June 30, 2026 (product revenue $112.9M; royalty revenue $30.4M).
  • Gross profit: $83.1 million for Q2 2026; gross margin of 58.0% of revenue.
  • Operating income (income from operations): $34.9 million for Q2 2026.
  • Consolidated net income attributable to Vicor: $49.8 million for Q2 2026; diluted net income per share: $1.04.
  • Cash and cash equivalents: $453.6 million as of June 30, 2026; backlog: $380 million at quarter end.

Business Highlights

  • Sequential revenue increase: Product and royalty revenues rose 26.9% sequentially from $113.0 million in Q1 2026, reflecting stronger demand across key end markets.
  • Rising demand noted across high-performance compute, automatic test equipment, and industrial, aerospace and defense applications, increasing utilization in the first ChiP fab.
  • Company is preparing for a second fab to support high current density 2nd Gen VPD ChiPs as first fab approaches full capacity utilization.
  • Management highlighted market opportunity to supply current multipliers for IVR-based power delivery, positioning 2nd Gen VPD IP to address limitations in TPUs, GPUs and wafer-scale engines.
  • Backlog expanded to $380 million, a 26% sequential increase and 145% year-over-year growth, indicating sustained order momentum.

Original SEC Filing:

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