Filing Flows › Vicor (VICR) › Q1 2026
Vicor (VICR) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Vicor (VICR) reported revenue of $113M for the first quarter 2026 (Q1 2026), +20% from a year earlier and +5% from the quarter before. Operating margin was 14.9%, net earnings $20.7M (18.3% of revenue).
Vicor, Q1 2026: revenue $113M (+20% year over year), operating margin 14.9%, net earnings $20.7M, operating cash flow −$3.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $113M | +5% | +20% |
| Gross profit | $62.4M | +5% | +41% |
| Operating profit | $16.9M | +8% | — |
| Net earnings | $20.7M | -56% | +707% |
| Operating cash flow | −$3.9M | -125% | -120% |
What changed
Revenue was $113.0M in Q1 2026, up 20% year over year and up 5% from the previous quarter. Direct Customers Contract Manufacturers and Non Stocking Distributors was the largest line at 58% of revenue. Stocking Distributors Net of Sales Allowances added $12.2M year over year (up 64%), 64% of the total change. Non Recurring Engineering declined 15%.
Gross margin was 55.2%, up 8.0 points from Q1 2025. Operating profit was $16.9M, a 14.9% margin (up 15.1 points year over year). Operating expenses grew 2% against revenue growth of 20%. The fastest-growing cost line was Research & development (+15%). Net earnings were $20.7M, up 714% year over year. The effective tax rate was -1.3%.
Operating cash flow was −$3.9M. Non-cash charges added back $5.3M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items used $33.8M. Capital expenditures of $12.4M exceeded it, leaving free cash flow of −$16.3M.
Questions
What was Vicor's revenue in the first quarter 2026?
Vicor (VICR) reported revenue of $113M for the first quarter 2026 (Q1 2026), +20% from a year earlier and +5% from the quarter before.
Was Vicor profitable in the first quarter 2026?
Operating profit was $16.9M (14.9% of revenue) and net earnings $20.7M.
Source: Vicor 10-Q on SEC EDGAR.