• Reported GAAP EPS of $1.03 up 347.83% YoY • Reported revenue of $107.26M down -70.13% YoY • Vicor's CEO anticipates 2026 will be a record year for product revenues, driven by rising demand across high-performance compute and industrial applications. Vicor's IP licensing practice is also set to achieve record revenues in 2026.
Bullish
Vicor achieved strong product revenue growth and a significant increase in net income for Q4 and full-year 2025. Vicor's backlog expanded, and the company is strategically planning a second fab to boost capacity.
Bearish
Vicor experienced a sequential decline in royalty revenue and gross margin percentage in Q4 2025, while facing an ongoing U.S. ITC investigation into IP infringement by power module importers.