Filing Flows › Vicor (VICR) › Q1 2025
Vicor (VICR) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Vicor (VICR) reported revenue of $94.0M for the first quarter 2025 (Q1 2025), +12% from a year earlier and -2% from the quarter before. Operating margin was -0.2%, net earnings $2.6M (2.7% of revenue).
Vicor, Q1 2025: revenue $94.0M (+12% year over year), operating margin -0.2%, net earnings $2.6M, operating cash flow $20.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $94.0M | -2% | +12% |
| Operating profit | −$149K | — | — |
| Net earnings | $2.6M | — | — |
| Operating cash flow | $20.1M | +99% | +680% |
| Free cash flow | $15.6M | +86% | — |
What changed
Revenue was $94.0M in Q1 2025, up 12% year over year and down 2% from the previous quarter. Direct Customers Contract Manufacturers and Non Stocking Distributors was the largest line at 66% of revenue. Direct Customers Contract Manufacturers and Non Stocking Distributors added $19.3M year over year (up 46%), 191% of the total change. Non Recurring Engineering declined 51%.
Gross margin was 47.2%, down 6.6 points from a year earlier. Operating costs exceeded revenue by $149K, an operating margin of -0.2%. Operating expenses fell 27% while revenue rose 12%. Net earnings were $2.5M. The effective tax rate was 14.2%. Non-operating items added $3.1M, 105% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $20.1M (up 680% year over year), 786% of net earnings. Non-cash charges added back $5.2M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $8.0M. Capital expenditures of $4.5M left free cash flow of $15.6M.
Questions
What was Vicor's revenue in the first quarter 2025?
Vicor (VICR) reported revenue of $94.0M for the first quarter 2025 (Q1 2025), +12% from a year earlier and -2% from the quarter before.
Was Vicor profitable in the first quarter 2025?
Operating loss was $149K (-0.2% of revenue) and net earnings $2.6M.
Source: Vicor 10-Q on SEC EDGAR.