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Sep 30, 2024
Vicor Q3 2024 Earnings Report
Vicor's Q3 2024 performance saw a decrease in revenue compared to the previous year, but an increase compared to the previous quarter, with net income and cash flow from operations improving.
Key Takeaways
Vicor Corporation reported Q3 2024 revenues of $93.2 million, a 13.6% decrease year-over-year but an 8.5% increase sequentially. Net income was $11.6 million, or $0.26 per diluted share. Cash flow from operations totaled $22.6 million.
Q3 2024 revenues totaled $93.2 million, a 13.6% decrease year-over-year.
Net income for the third quarter was $11.6 million, or $0.26 per diluted share.
Cash flow from operations totaled $22.6 million.
Backlog for the third quarter totaled $150.6 million, a 13.8% decrease year-over-year.
Vicor
Vicor
Vicor Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalty Revenue
CapyFin.com Forward Guidance
The company is nearing initial deliveries of 2nd generation, high density VPD systems for leading AI applications.
Positive Outlook
- Close to initial deliveries of 2nd generation VPD systems for AI.
- VPD systems achieve superior density, bandwidth and signal integrity.
- Vicor's VPD will enable AI processors setting new standards.
- Vicor's VPD will enable AI processors achieving compute performance improvements.
- Vicor's VPD will enable AI processors achieving power system efficiency improvements.
Challenges Ahead
- Gross margins were impacted primarily by product mix.
- Contract manufacturers may be precluded from importing computing systems using infringing modules.
- Redesigned modules, or discrete alternatives, may still infringe.
- OEMs condoning infringement are taking chances with their supply chain.
- Unscrupulous actors playing a game of 'catch me if you can' are negatively impacting Vicor.
Revenue & Expenses
Visualization of income flow from segment revenue to net income