Vicor Q4 2024 Earnings Report
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 Revenue
Vicor EPS
Vicor Revenue by Segment
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