Filing Flows › Vicor (VICR) › Q2 2026 › vs Q1 2026
Vicor (VICR) Q2 2026 vs Q1 2026 (quarter over quarter)
Vicor's revenue rose $30.4M (+27%) from $113M in Q1 2026 to $143M in Q2 2026. The biggest changes: Royalty +$15.5M (+103%); Product +$14.9M (+15%). Gross margin 58.0% against 55.2% (+2.8 pts).
Vicor, Q2 2026: revenue $143M (+2% year over year), operating margin 24.3%, net earnings $49.8M, operating cash flow $34.1M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 58.0% | 55.2% | +2.8 pts |
| Operating margin | 24.3% | 14.9% | +9.4 pts |
| Net margin | 34.7% | 18.3% | +16.4 pts |
| Free cash flow margin | 16.0% | -14.5% | +30.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Direct Customers Contract Manufacturers and Non Stocking Distributors | $78.2M | $65.0M | $13.2M | +20% |
| Stocking Distributors Net of Sales Allowances | $32.7M | $31.4M | $1.3M | +4% |
| Non Recurring Engineering | $2.0M | $1.6M | $437K | +28% |
| Product | $113M | $98.0M | $14.9M | +15% |
| Royalty | $30.4M | $15.0M | $15.5M | +103% |
| Revenue | $143M | $113M | $30.4M | +27% |
| Gross profit | $83.1M | $62.4M | $20.8M | +33% |
| Cost of revenue | $60.2M | $50.6M | $9.6M | +19% |
| Other income, net | $4.0M | $3.5M | $526K | +15% |
| Operating profit | $34.9M | $16.9M | $18.0M | +107% |
| Operating expenses | $48.2M | $45.5M | $2.8M | +6% |
| Pre-tax earnings | $38.9M | $20.4M | $18.5M | +91% |
| Research & development | $20.6M | $22.3M | −$1.6M | -7% |
| SG&A | $27.6M | $23.2M | $4.4M | +19% |
| Income tax benefit | $10.9M | $273K | $10.6M | 40× |
| Net earnings | $49.8M | $20.7M | $29.1M | +141% |
| Depreciation & amortization | $5.4M | $5.3M | $86K | +2% |
| Share-based compensation | $4.2M | $3.9M | $328K | +9% |
| Working capital & other | $25.2M | $33.8M | −$8.6M | -25% |
| Operating cash flow | $34.1M | −$3.9M | $38.1M | — |
| Free cash flow (OCF − capex) | $23.0M | −$16.3M | $39.3M | — |
| Capital expenditures | $11.2M | $12.4M | −$1.2M | -10% |
Questions
How much did Vicor's revenue grow quarter over quarter in Q2 2026?
Vicor's revenue rose $30.4M (+27%) from $113M in Q1 2026 to $143M in Q2 2026.
What drove Vicor's revenue change in Q2 2026?
Royalty +$15.5M (+103%); Product +$14.9M (+15%).