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Dec 31, 2024
Vicor Q4 2024 Earnings Report
Vicor reported revenue growth in Q4 2024 but faced challenges in backlog and operating expenses.
Key Takeaways
Vicor Corporation reported Q4 2024 revenue of $96.2 million, up 3.8% year-over-year. Gross margin improved to 52.4%, while operating expenses increased to $41.2 million. Net income reached $10.2 million, or $0.23 per diluted share, compared to $8.7 million in the same quarter last year. Cash flow from operations dropped to $10.1 million, reflecting higher costs and strategic investments.
Q4 revenue increased 3.8% YoY to $96.2 million.
Gross margin improved to 52.4% from 51.1% a year ago.
Net income rose to $10.2 million, with EPS of $0.23.
Cash flow from operations decreased to $10.1 million.
Vicor
Vicor
Vicor Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comRoyalty Revenue
CapyFin.com Forward Guidance
Vicor expects revenue growth in 2025 driven by increasing demand for high-density power solutions, while margin improvements will depend on higher utilization of its ChiP fab and increased licensing income.
Positive Outlook
- Expected revenue growth from AI and computing markets.
- Higher licensing income to support profitability.
- Increased ChiP fab utilization may enhance margins.
- Expanding market for high-density power solutions.
- Continued investment in next-gen VPD for AI applications.
Challenges Ahead
- Backlog declined 3.3% YoY, indicating softer order trends.
- Cash flow from operations declined significantly YoY.
- Higher operating expenses impacting net margins.
- Delayed development of next-gen VPD technology.
- Potential macroeconomic headwinds affecting demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income