Vicor shares climbed after the company raised its guidance thanks to royalties from a new license deal.

The stock gained 11% to $248.03 in after-hours trading Monday. Shares had already doubled this year through the close.

The power components maker said it now expects sequential growth to be nearly 10% to more than 20%, due to royalties from a non-exclusive license to Vertical Power Delivery.

Vicor said last week it granted a license to a new original equipment manufacturer with the right to procure Vertical Power Delivery modules covered by Vicor patents from unlicensed suppliers.

Vicor licenses its patents to OEMs and hyper-scalers. Four leading companies have secured licenses to power system technology patented by Vicor, Chief Executive Patrizio Vinciarelli said.

The licenses can source VPD solutions from unlicensed suppliers. Licensees working with Vicor may earn discounts on licensing royalties for commodity VPD modules from unlicensed suppliers.