Vicor ( (VICR) ) has released its Q3 earnings. Here is a breakdown of the information Vicor presented to its investors.
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Vicor Corporation, based in Andover, Massachusetts, specializes in designing, developing, and marketing modular power components and complete power systems for various sectors, including high-performance computing and telecommunications. In its latest earnings report, Vicor announced a significant increase in product revenues and licensing income for the third quarter of 2025, totaling $110.4 million, an 18.5% rise from the same period last year. However, this marks a 21.7% decrease from the previous quarter, which had benefited from a substantial patent litigation settlement.
The company’s gross margin improved to $63.5 million, up from $45.7 million a year ago, although it decreased from $92.1 million in the second quarter of 2025. Operating expenses rose slightly to $42.6 million compared to the previous year but decreased from the second quarter. Net income for the quarter was reported at $28.3 million, translating to $0.63 per diluted share, a notable increase from $11.6 million or $0.26 per diluted share in the third quarter of 2024.
Vicor’s cash flow from operations reached $38.5 million, up from $22.6 million a year ago, though down from $65.2 million in the previous quarter. The company also reported a 7.0% increase in cash and cash equivalents, reaching approximately $362.4 million. The backlog for the quarter stood at $152.8 million, showing a slight increase from the previous year.
Looking ahead, Vicor’s CEO, Dr. Patrizio Vinciarelli, expressed optimism about the company’s IP licensing growth, particularly in high-density power systems crucial for high-performance computing. The company is focused on expanding its licensing practice and leveraging its ChiP foundry for higher margins and capacity utilization.