Vicor Corporation Reports Strong Q3 2025 Earnings

Vicor ( (VICR) ) has released its Q3 earnings. Here is a breakdown of the information Vicor presented to its investors.

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.