Vicor EPS Jumps to $1.01 with 14.6% Margin and $176.9M Backlog
Vicor posted Q4 CY2025 sales of $107.3 million, up 11.5% year-over-year, meeting estimates and delivering GAAP EPS of $1.01, versus $0.37 forecast. Operating margin rose to 14.6% and backlog grew 13.8% to $176.9 million, while management forecasts record 2026 product revenues and plans a second fab.
1. Q4 CY2025 Financial Results
Vicor reported Q4 revenue of $107.3 million, up 11.5% year-over-year, meeting estimates of $107.8 million. GAAP EPS was $1.01, more than double the $0.37 consensus, driving net income to $46.5 million and generating $15.7 million in operating cash flow.
2. Backlog and Margin Expansion
The company’s backlog rose 13.8% to $176.9 million at quarter end as operating margin expanded to 14.6%, up from 10% a year ago. Gross margin improved to 55.4%, supported by higher product revenue and disciplined expense management.
3. 2026 Outlook and Capacity Plans
Management forecasts record product revenues in 2026, citing demand in high-performance compute, automatic test equipment, industrial, aerospace and defense markets. Plans include bringing a second ChiP fab online and leveraging IP licensing under new USITC exclusion orders to boost revenues.