Vicor surges as Q1 revenue jumps 20% and backlog spikes to $301M
Vicor shares jumped after the company reported Q1 2026 results showing revenue up 20.2% year over year to $113.0 million and EPS of $0.44. Investors also focused on a 70% sequential backlog surge to $301 million, pointing to stronger near-term demand and capacity expansion plans.
1. What’s moving the stock
Vicor (VICR) is rising sharply after releasing first-quarter 2026 earnings this morning (April 21, 2026). The report showed faster growth and improving profitability versus the year-ago quarter, alongside a major increase in backlog that investors often treat as a forward demand indicator. (vicorcorporation.gcs-web.com)
2. The key numbers investors are reacting to
Vicor reported product and royalty revenues of $113.0 million for Q1 2026, up 20.2% from $94.0 million a year earlier, and up 5.3% sequentially from Q4 2025. Net income was $20.7 million, or $0.44 per diluted share, versus $0.06 per diluted share in the prior-year quarter; gross margin was 55.2% (up from 47.2% a year ago). (vicorcorporation.gcs-web.com)
3. Backlog spike and what management highlighted
Backlog ended Q1 2026 at $301 million, up 75% year over year and up 70% sequentially, which management tied to rising demand across high-performance compute, automatic test equipment, and industrial, aerospace and defense applications. The company also said it is expanding capacity with additional equipment in its first CHiP fab while planning a second fab, and pointed to the impact of efforts aimed at limiting unlawful importation of systems that infringe its IP. (vicorcorporation.gcs-web.com)
4. What to watch next
The company scheduled an investor conference call for 8:00 a.m. ET today (April 21, 2026), which can shift the narrative if commentary adds detail on backlog convertibility, capacity timing, and the mix between product and royalty revenue. Traders will also watch whether the stock’s move holds after broader markets digest the print and any Q&A clarifies the pace of demand in high-performance compute. (vicorcorporation.gcs-web.com)