Vicor Corporation reported financial results for the third quarter ended September 30, 2026, showing significant growth in product and royalty revenues. Total product and royalty revenues for the quarter reached $197.1 million, which represents a 37.5% increase from the second quarter of 2026 and a 78.5% increase compared to the same period in the prior year.
Gross margin for the quarter was $134.7 million, or 68.3% of revenue, a sequential increase from 58.0% in the second quarter. Net income for the third quarter was $63.3 million, or $1.33 per diluted share. This compares to net income of $49.8 million, or $1.04 per diluted share, in the second quarter of 2026.
Operating expenses for the quarter increased sequentially to $62.5 million, driven by contingency fees to law firms enforcing the company’s intellectual property. Cash flow from operations totaled $69.7 million for the third quarter. The company reported cash and cash equivalents of approximately $513.1 million as of September 30, 2026, a 13.1% increase from the prior quarter.
Backlog for the third quarter ended September 30, 2026, totaled $406 million, a 7% sequential increase from the end of the second quarter and a 166% increase compared to the same period a year ago. The company also noted that it has purchased two additional sites within 30 miles of its ChiP Fab-1 in Andover to support capacity expansion.
