Vicor Q2 Revenue Climbs 27% Sequentially to $143M; Backlog Swells to $380M

summarizeSummary

Vicor reported Q2 2026 revenue of $143.4 million, up 27% sequentially, with net income of $49.8 million ($1.04/share). Backlog hit $380 million, up 145% year-over-year, and the company is expanding capacity with a second fab.

check_boxKey Events · Earnings and Guidance · VICR

• Revenue Surges 27% Sequentially

  Driven by strong demand across high-performance compute, industrial, and defense applications, Q2 2026 product and royalty revenues reached $143.4 million, up from $113.0 million in Q1 2026.

• Net Income More Than Doubles

  Reflecting higher volumes and improved operating leverage, net income jumped to $49.8 million ($1.04 diluted EPS) from $20.7 million ($0.44) in Q1 2026.

• Backlog Hits $380 Million

  Indicating robust future revenue visibility, backlog increased 26% sequentially and 145% year-over-year to $380 million.

• Cash Position Strengthens

  Cash and equivalents rose 12.2% sequentially to $453.6 million, with $34.0 million in operating cash flow funding capacity expansion without external capital.

auto_awesomeAnalysis · VICR · Manufacturing

Vicor delivered a standout quarter, with revenue surging 27% from Q1 to $143.4 million on the back of product and royalty growth. Net income more than doubled sequentially to $49.8 million, or $1.04 per share. The backlog ballooned to $380 million — up 26% from last quarter and 145% year-over-year — signaling sustained demand from AI, data center, and defense customers. With $453.6 million in cash and no debt, the company is self-funding a second ChiP fab to meet accelerating orders. This print materially raises the growth trajectory and supports the premium valuation.