Vicor Corporation (VICR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Vicor published the results on October 20, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Vicor reports one operating segment and splits revenue into Advanced Products, which include royalties from licensing Advanced Product patents, and Brick Products. Royalty revenue was $66.6 million in Q3 2026, against $21.7 million a year earlier.
• Vicor reports in thousands; figures here are in millions. Its release gives no outlook and no adjusted EPS.

Source: Vicor Q3 2026 results, October 20, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Vicor splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Vicor's Advanced Products, including royalty revenue revenue was $139 million in Q3 2026, up 112% from $65.5 million in Q3 2025, 70% of total revenue.
• Vicor's Brick Products revenue was $58.3 million in Q3 2026, up 30% from $44.9 million in Q3 2025, 30% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total product and royalty revenue and diluted EPS, each as first reported in that quarter's release. Q4 2025 EPS of $1.01 includes a $27.3 million tax benefit from partially recognizing deferred tax assets.

We do not hold a confirmed date for Vicor's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 20, 2026

Vicor's product and royalty revenues were $197.1 million in Q3 2026, up 78.5% from $110.4 million and up 37.5% from $143.4 million in Q2 2026. Product revenue was $130.5 million and royalty revenue $66.6 million, against $88.7 million and $21.7 million a year earlier. (Vicor Q3 2026 release, Oct 20, 2026)

Vicor's Advanced Products line, which includes royalties, brought in $138.9 million, up 112.0%. The 10-Q puts the increase down mainly to higher royalty revenue from a new license agreement signed during the quarter, plus higher volumes. CEO Patrizio Vinciarelli said Vicor granted its first VPD (vertical power delivery) license to an AI OEM at Stage-2 unit royalty rates. Brick Products, the older line, grew 29.7% to $58.3 million on higher market demand. (Vicor Form 10-Q, Q3 2026, Oct 26, 2026; Vicor Q3 2026 release, Oct 20, 2026)

Vicor's Advanced Products are sold mainly to large OEMs, ODMs and their contract manufacturers, with sales concentrated in data center and hyperscaler computing, where its modules deliver power to high-performance AI processors. Revenue from U.S. customers was $125.9 million, Asia Pacific $47.8 million and Europe $21.9 million. Export sales were about 36.1% of revenue, down from 46.0% in Q2 2026. (Vicor Form 10-Q, Q3 2026, Oct 26, 2026)

Vicor's gross margin rose to 68.3% of revenue from 57.5% a year earlier. The 10-Q attributes the gain mainly to higher volume, including higher royalty revenue, and production efficiencies, partly offset by sales mix and tariff and freight costs. (Vicor Q3 2026 release, Oct 20, 2026; Vicor Form 10-Q, Q3 2026, Oct 26, 2026)

Vicor earned $63.3 million, or $1.33 per diluted share, in Q3 2026, against $28.3 million, or $0.63, a year earlier. Vicor does not publish an adjusted EPS. Operating income more than tripled to $72.1 million from $20.9 million. (Vicor Q3 2026 release, Oct 20, 2026)

Vicor's tax line swung from a $5.0 million benefit a year earlier to a $15.4 million provision, an effective rate of 19.6% against (21.4)%. The 10-Q says the 2025 rate reflected Vicor's full valuation allowance against its deferred tax assets, and its 2025 10-K says it released a portion of that allowance during 2025. (Vicor Form 10-Q, Q3 2026, Oct 26, 2026; Vicor Q3 2026 release, Oct 20, 2026; Vicor Form 10-K, 2025, Mar 2, 2026)

Vicor's selling, general and administrative expense rose $15.8 million to $38.6 million, of which $13.9 million was higher legal fees tied to licensing agreements and more legal activity. Diluted shares rose to 47.6 million from 44.9 million. In August 2026 the board approved a $150,000,000 share repurchase authorization that replaces the July 2024 one and does not expire. (Vicor Form 10-Q, Q3 2026, Oct 26, 2026; Vicor Q3 2026 release, Oct 20, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Vicor does not publish a revenue or earnings outlook in its release. The nearest forward indicator it reports is backlog, which was $406 million at September 30, 2026, up 7% from $380 million at the end of Q2 2026 and up 166% from $153 million a year earlier. (Vicor Q3 2026 release, Oct 20, 2026)

Vicor is adding capacity. Its CEO said the purchase of two more sites within 30 miles of ChiP Fab-1 in Andover will give a nearly 5X increase in capacity from three fabs, relative to Fab-1. Capital expenditures were $16.1 million in the quarter, against $4.0 million a year earlier. (Vicor Q3 2026 release, Oct 20, 2026)

A consensus figure is the average of the models published by the analysts who cover Vicor, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Vicor's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning VICR is on is VICR a buy or a sell?, what analysts expect next is on the VICR forecast, and what the company does is on the Vicor Corporation (VICR) stock page.

Every number on this page can be traced to a document Vicor published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.