Vicor Corporation (VICR) financial statements: income statement, balance sheet and cash flow

Vicor Corporation's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Vicor Corporation reported revenue of $452.7M and net income of $118.6M (+1831.8% year on year).

Income statement

Vicor Corporation income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total net revenues	$407.7M	$359.1M	$405.1M	$399.1M
Patent litigation settlement	$45.0M	—	—	—
Total net revenues and patent litigation settlement	$452.7M	—	—	—
Cost of product revenues	$193.3M	$175.1M	$200.1M	$218.5M
Gross margin	$259.4M	$184.0M	$204.9M	$180.6M
Selling, general and administrative	$99.0M	$96.9M	$85.7M	$86.3M
Research and development	$78.6M	$68.9M	$67.9M	$60.6M
Litigation-contingency expense	$0	$19.5M	$0	$6.5M
Total operating expenses	$177.6M	$185.3M	$153.6M	$153.4M
Income (loss) from operations	$81.8M	($1.3M)	$51.4M	$27.2M
Total unrealized (losses) gains on available-for-sale securities, net	($179.0K)	$111.0K	($92.0K)	($17.0K)
Portion of losses (gains) recognized in other comprehensive income	$179.0K	($111.0K)	$92.0K	$20.0K
Net credit gains recognized in earnings	$0	$0	$0	$3.0K
Other income (expense), net	$12.7M	$11.8M	$8.9M	$1.5M
Total other income (expense), net	$12.7M	$11.8M	$8.9M	$1.5M
Income before income taxes	$94.6M	$10.5M	$60.2M	$28.7M
Less: (Benefit) provision for income taxes	($24.0M)	$4.3M	$6.6M	$3.3M
Consolidated net income	$118.6M	$6.1M	$53.6M	$25.4M
Less: Net income attributable to noncontrolling interest	$40.0K	$10.0K	$5.0K	($20.0K)
Net income attributable to Vicor Corporation	$118.6M	$6.1M	$53.6M	$25.4M
Basic	$2.63	$0.14	$1.21	$0.58
Diluted	$2.61	$0.14	$1.19	$0.57
Basic	45.0M	44.9M	44.3M	44.0M
Diluted	45.5M	45.2M	45.0M	44.9M

Vicor Corporation income statement, quarters

Line item	Sep 30, 2026 · Q3	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3
Total net revenues	$197.1M	$143.4M	$113.0M	$110.4M
Patent litigation settlement	$0	$0	—	$0
Total net revenues and patent litigation settlement	$197.1M	$143.4M	—	$110.4M
Cost of product revenues	$62.4M	$60.2M	$50.6M	$46.9M
Gross margin	$134.7M	$83.1M	$62.4M	$63.5M
Selling, general and administrative	$38.6M	$27.6M	$23.2M	$22.7M
Research and development	$24.0M	$20.6M	$22.3M	$19.9M
Total operating expenses	$62.5M	$48.2M	$45.5M	$42.6M
Income from operations	$72.1M	$34.9M	$16.9M	$20.9M
Total realized and unrealized gains (losses) on available-for-sale securities, net	$475.0K	—	—	—
Less: portion of (gains) losses recognized in other comprehensive income	($449.0K)	($17.0K)	($46.0K)	$178.0K
Net credit gains recognized in earnings	$26.0K	$0	$0	$0
Other income (expense), net	$6.6M	$4.0M	$3.5M	$2.4M
Total other income (expense), net	$6.6M	$4.0M	$3.5M	$2.4M
Income before income taxes	$78.7M	$38.9M	$20.4M	$23.3M
Less: Provision (benefit) for income taxes	$15.4M	($10.9M)	($273.0K)	($5.0M)
Consolidated net income	$63.3M	$49.8M	$20.7M	$28.3M
Less: Net income attributable to noncontrolling interest	$11.0K	$14.0K	$12.0K	$10.0K
Net income attributable to Vicor Corporation	$63.3M	$49.8M	$20.7M	$28.3M
Basic	$1.37	$1.08	$0.45	$0.63
Diluted	$1.33	$1.04	$0.44	$0.63
Basic	46.1M	45.9M	45.5M	44.7M
Diluted	47.6M	47.7M	47.3M	44.9M

Balance sheet

Vicor Corporation balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$402.8M	$277.3M	$242.2M	$190.6M
Accounts receivable, less allowance of $137 in 2025 and $130 in 2024	$60.7M	$52.9M	$52.6M	$65.4M
Inventories	$91.3M	$106.0M	$106.6M	$101.4M
Other current assets	$32.5M	$26.8M	$18.9M	$5.2M
Total current assets	$587.4M	$463.0M	$420.4M	$362.6M
Deferred tax assets	$27.5M	$261.0K	$296.0K	$280.0K
Long-term investment, net	$2.5M	$2.6M	$2.5M	$2.6M
Property, plant and equipment, net	$147.7M	$152.7M	$157.7M	$166.0M
Other assets	$20.9M	$22.5M	$14.0M	$5.4M
Total assets	$785.8M	$641.1M	$594.9M	$536.9M
Accounts payable	$12.3M	$8.7M	$12.1M	$22.2M
Accrued compensation and benefits	$12.0M	$10.9M	$11.2M	$10.8M
Accrued litigation	$28.3M	$26.9M	$6.5M	$6.5M
Accrued expenses	$3.7M	$6.6M	$5.1M	$8.6M
Sales allowances	$3.1M	$1.7M	$3.5M	$1.7M
Short-term lease liabilities	$1.6M	$1.7M	$1.9M	$1.4M
Income taxes payable	$904.0K	$59.0K	$746.0K	$72.0K
Short-term deferred revenue and customer prepayments	$3.4M	$5.3M	$3.2M	$13.2M
Total current liabilities	$65.3M	$61.8M	$44.2M	$64.5M
Long-term income taxes payable	$3.1M	$3.4M	$2.2M	$862.0K
Long-term lease liabilities	$5.6M	$5.6M	$6.4M	$7.0M
Total liabilities	$74.0M	$70.8M	$53.8M	$72.6M
Common Stock	$578.0K	$570.0K	$563.0K	$559.0K
Additional paid-in capital	$462.2M	$407.6M	$383.8M	$360.4M
Retained earnings	$421.4M	$302.8M	$296.7M	$243.1M
Accumulated other comprehensive loss	($1.7M)	($1.5M)	($1.3M)	($988.0K)
Treasury stock at cost: 12,378,224 shares in 2025 and 11,649,110 shares in 2024	-170.9M	-139.4M	-138.9M	-138.9M
Total Vicor Corporation stockholders' equity	$711.6M	$570.1M	$540.9M	$464.1M
Noncontrolling interest	$259.0K	$220.0K	$237.0K	$248.0K
Total equity	$711.8M	$570.3M	$541.1M	$464.3M
Total liabilities and equity	$785.8M	$641.1M	$594.9M	$536.9M

Vicor Corporation balance sheet, quarters

Line item	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025
Cash and cash equivalents	$513.1M	$453.6M	$404.2M	$362.4M
Accounts receivable, net	$122.5M	$78.9M	$67.4M	$53.3M
Inventories	$110.9M	$104.5M	$94.8M	$92.3M
Other current assets	$13.6M	$33.3M	$33.0M	$26.0M
Total current assets	$760.1M	$670.3M	$599.5M	$533.9M
Long-term deferred tax assets, net	$23.4M	$38.7M	$27.8M	$275.0K
Long-term investment, net	$0	$2.5M	$2.5M	$2.4M
Property, plant and equipment, net	$178.0M	$162.5M	$154.6M	$152.5M
Other assets	$20.1M	$20.0M	$20.5M	$21.1M
Total assets	$981.6M	$894.2M	$804.9M	$710.2M
Accounts payable	$24.3M	$20.4M	$16.7M	$15.4M
Accrued compensation and benefits	$14.0M	$15.3M	$13.5M	$13.4M
Accrued litigation	$0	$0	$0	$27.9M
Accrued expenses	$22.2M	$7.7M	$4.4M	$5.4M
Short-term lease liabilities	$1.7M	$1.8M	$1.4M	$1.6M
Sales allowances	$3.5M	$4.4M	$3.7M	$2.6M
Income taxes payable	$208.0K	$141.0K	$71.0K	$154.0K
Short-term deferred revenue and customer prepayments	$418.0K	$875.0K	$2.2M	$4.2M
Total current liabilities	$66.5M	$50.6M	$41.9M	$70.7M
Long-term income taxes payable	$3.1M	$3.1M	$3.1M	$3.4M
Long-term lease liabilities	$5.4M	$5.8M	$5.7M	$5.8M
Total liabilities	$75.0M	$59.6M	$50.8M	$79.9M
Common Stock	$578.0K	$578.0K	$578.0K	$573.0K
Additional paid-in capital	$517.7M	$509.8M	$467.6M	$429.0M
Retained earnings	$555.1M	$491.8M	$442.0M	$374.8M
Accumulated other comprehensive loss	($1.2M)	($1.7M)	($1.7M)	($1.6M)
Treasury stock at cost: 11,544,148 shares in 2026 and 12,378,224 shares in 2025	-165.9M	-166.2M	-154.7M	-172.7M
Total Vicor Corporation stockholders' equity	$906.3M	$834.3M	$753.9M	$630.1M
Noncontrolling interest	$295.0K	$275.0K	$265.0K	$274.0K
Total equity	$906.6M	$834.6M	$754.1M	$630.4M
Total liabilities and equity	$981.6M	$894.2M	$804.9M	$710.2M

Cash flow statement

Vicor Corporation cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Consolidated net income	$118.6M	$6.1M	$53.6M	$25.4M
Depreciation and amortization	$20.8M	$18.6M	$17.2M	$13.8M
Stock-based compensation expense	$16.8M	$15.3M	$12.9M	$10.3M
Loss on disposal of fixed assets	$839.0K	—	—	—
Provision for doubtful accounts	$7.0K	$0	$43.0K	$5.0K
Deferred income taxes	($27.2M)	$6.0K	($34.0K)	($72.0K)
Litigation-contingency expense	$0	$19.5M	$0	$6.5M
(Decrease) increase in long-term deferred revenue	$0	($1.0M)	$875.0K	($268.0K)
Decrease (increase) in other assets	$413.0K	$1.1M	—	($692.0K)
(Decrease) increase in long-term income taxes payable	($302.0K)	$1.2M	$1.4M	$293.0K
Accounts receivable	($7.8M)	($483.0K)	$12.6M	($10.6M)
Inventories	$14.7M	$457.0K	($5.2M)	($34.2M)
Other current assets	($2.0M)	($7.9M)	($539.0K)	$1.5M
Accounts payable and accrued liabilities	$2.6M	($1.8M)	($11.2M)	$4.4M
Accrued severance and other charges	$1.5M	($9.0K)	$9.0K	($93.0K)
Short-term lease liabilities	$160.0K	$131.0K	$583.0K	$103.0K
Income taxes payable	$845.0K	($684.0K)	$674.0K	$6.0K
Deferred revenue and customer prepayments	($417.0K)	$340.0K	($8.2M)	—
Net cash provided by operating activities	$139.5M	$50.8M	$74.5M	$22.9M
Additions to property, plant and equipment and internal-use software	($20.3M)	($23.6M)	($33.5M)	($64.0M)
Net cash used for investing activities	($20.3M)	($23.6M)	($33.5M)	($19.0M)
Proceeds from employee stock plans	$41.5M	$8.5M	$10.6M	$4.4M
Repurchases of Common Stock	($35.2M)	($497.0K)	—	—
Net cash provided by financing activities	$6.3M	$8.0M	$10.6M	$4.4M
Effect of foreign exchange rates on cash	($18.0K)	($179.0K)	($70.0K)	($219.0K)
Net increase in cash and cash equivalents	$125.5M	$35.1M	$51.6M	$8.2M
Cash and cash equivalents at beginning of year	$277.3M	$242.2M	$190.6M	$182.4M
Cash and cash equivalents at end of year	$402.8M	$277.3M	$242.2M	$190.6M
Cash paid during the year for income taxes, net of refunds	$4.9M	$4.3M	$4.2M	$1.3M
Purchases of property, plant and equipment and internal-use software incurred but not yet paid	$1.1M	$1.9M	$2.2M	—

Vicor Corporation cash flow statement, quarters

Line item	Sep 30, 2026 · YTD	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD
Consolidated net income	$133.8M	$70.5M	$20.7M	$72.1M
Depreciation and amortization	$16.3M	$10.8M	$5.3M	$15.6M
Stock-based compensation expense	$13.4M	$8.0M	$3.9M	$12.4M
(Gain) loss on disposal of fixed assets	($78.0K)	—	—	$839.0K
Provision for doubtful accounts	$0	$0	$0	$7.0K
Litigation payment	($28.6M)	($28.6M)	($28.6M)	—
Credit gain on available-for-sale securities	($26.0K)	—	—	—
Decrease in other assets	$261.0K	$245.0K	$101.0K	$1.5M
Deferred income taxes	$4.0M	($11.3M)	($337.0K)	($4.0K)
Increase in long-term income taxes payable	$57.0K	$46.0K	$23.0K	$43.0K
Accounts receivable	($61.8M)	—	—	—
Other changes in current assets and liabilities, net	$3.0M	($19.5M)	—	—
Net cash provided by operating activities	$80.4M	$30.2M	($3.9M)	$123.8M
Proceeds from advanced manufacturing investment credits	$19.5M	—	—	—
Sales or maturities of investments	$3.0M	—	—	—
Proceeds from sale of equipment	$78.0K	—	—	—
Additions to property, plant and equipment and internal-use software	($39.7M)	($23.6M)	($12.4M)	($14.8M)
Net cash used for investing activities	($17.1M)	($23.6M)	($12.4M)	($14.8M)
Proceeds from employee stock plans	$47.1M	$44.2M	$17.8M	$8.9M
Repurchases of Common Stock	$0	$0	—	($33.0M)
Net cash provided by (used for) financing activities	$47.1M	$44.2M	$17.8M	($24.0M)
Effect of foreign exchange rates on cash	($10.0K)	($84.0K)	($43.0K)	$87.0K
Net increase in cash and cash equivalents	$110.3M	$50.8M	$1.4M	$85.1M
Cash and cash equivalents at beginning of period	$402.8M	$402.8M	$402.8M	$277.3M
Cash and cash equivalents at end of period	$513.1M	$453.6M	$404.2M	$362.4M
Purchases of property, plant and equipment and internal-use software incurred but not yet paid	$7.4M	$2.2M	$742.0K	$1.9M

Vicor Corporation score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.