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Jun 30
Vicor Q2 2025 Earnings Report
Vicor reported strong core revenue growth and returned to profitability in Q2 2025.
Key Takeaways
Vicor posted solid core revenue of $96M excluding a one-time patent litigation settlement, achieving profitability with adjusted EPS of $0.07 compared to a net loss last year.
Core revenue (ex-litigation) reached $96M, showing solid demand.
Adjusted EPS was $0.07, excluding the $45M litigation settlement.
Net income rose to $41.2M, driven by one-time settlement and improved operations.
Cash and cash equivalents increased to $338.5M.
Vicor
Vicor
Vicor Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalty Revenue
CapyFin.com Forward Guidance
Management expects continued growth from high-performance ChiPs and 2nd gen VPD for AI applications, along with further enforcement of intellectual property rights.
Positive Outlook
- High-performance ChiPs expected to drive revenue growth
- 2nd gen VPD for AI applications to boost utilization of ChiP fab
- Patent enforcement actions to protect market share
- Increasing product revenues from patented innovations
- Strong cash position supports future investments
Challenges Ahead
- Heavy reliance on patent litigation for reported revenue boost
- Backlog declined sequentially
- Operating expenses increased YoY
- Market dependence on high-performance computing and AI sectors
- Potential risks from ongoing legal actions
Revenue & Expenses
Visualization of income flow from segment revenue to net income