Vicor reported Q4 2025 product revenue of USD 92.7 million (+15.3% year-on-year; +4.5% sequential) and royalty revenue of USD 14.5 million (-7.8% year-on-year; -33.1% sequential), with the sequential royalty decline attributed to a catch-up amount included in Q3. Q4 gross margin was USD 59.4 million (55.4% of revenue), operating expenses were USD 43.7 million, and net income was USD 46.5 million (USD 1.01 diluted EPS), including a USD 27.3 million tax benefit tied to partial recognition of certain deferred tax assets. Q4 operating cash flow was USD 15.7 million and capital expenditures were USD 5.5 million; cash and cash equivalents ended Q4 at USD 402.8 million, while backlog was USD 176.9 million. For FY 2025, Vicor posted product revenue of USD 350.3 million (+12.1% year-on-year) and royalty revenue of USD 57.4 million (+23.2%); total product revenue, royalty revenue and a USD 45.0 million patent litigation settlement rose to USD 452.7 million (+26.1%). FY net income was USD 118.6 million (USD 2.61 diluted EPS), including a USD 24.0 million tax benefit, and operating cash flow was USD 139.5 million (+174.5%). Management said it expects rising demand across high-performance compute, automatic test equipment, and industrial, aerospace and defense applications to support a record year for product revenues in 2026, and noted the U.S. International Trade Commission has instituted a second investigation into alleged illegal importation of products infringing Vicor’s IP related to Non-isolated Bus Converters. Vicor also said its first ChiP fab is approaching high utilization and it is planning a second fab, while exploring an alternate source for high current density 2nd Gen VPD modules.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vicor Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202602191605PRIMZONEFULLFEED9657981) on February 19, 2026, and is solely responsible for the information contained therein.