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Mar 31
Vicor Q1 2025 Earnings Report
Reported financial results for the first quarter ended March 31, 2025
Key Takeaways
Vicor Corporation reported a 12.0% increase in revenue for the first quarter of 2025 compared to the prior year, reaching $94.0 million. The company also returned to profitability with net income of $2.5 million, or $0.06 per diluted share, a significant improvement from a net loss in the prior year period.
Revenues for Q1 2025 increased 12.0% year-over-year to $94.0 million.
The company achieved net income of $2.5 million in Q1 2025, compared to a net loss of $14.5 million in Q1 2024.
Diluted EPS for Q1 2025 was $0.06, a positive shift from ($0.33) in the same period last year.
Backlog increased by 14.2% year-over-year to $171.7 million at the end of Q1 2025.
Vicor
Vicor
Vicor Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalty Revenue
CapyFin.com Forward Guidance
Management expects margin improvements with higher utilization of the ChiP fab and increased income from licensing. They are also focused on completing initial delivery of a very high density VPD system to a lead customer.
Positive Outlook
- Expected margin improvements from higher ChiP fab utilization.
- Anticipated increased income from existing and future licensees.
- Licensing is gaining traction with OEMs and hyper-scalers.
- Development of 2nd generation VPD for leading AI applications with increased density and bandwidth.
- Focus on completing initial delivery of a very high density VPD system to a lead customer.
Challenges Ahead
- Revenues declined sequentially.
- Gross margins declined sequentially.
- Reduced income from a licensee transitioning to new unlicensed products.
- Margin improvements are contingent on higher fab utilization and increased licensing income.
- Completion of initial delivery of the high-density VPD system is a prerequisite for providing demo systems to others.
Revenue & Expenses
Visualization of income flow from segment revenue to net income