Filing Flows › Vicor (VICR) › Q3 2026 › vs Q2 2026
Vicor (VICR) Q3 2026 vs Q2 2026 (quarter over quarter)
Vicor's revenue rose $53.8M (+38%) from $143M in Q2 2026 to $197M in Q3 2026. The biggest changes: Royalty +$36.2M (+119%); Product +$19.1M (+17%); Non Recurring Engineering −$1.6M (-77%). Gross margin 68.3% against 58.0% (+10.3 pts).
Vicor, Q3 2026: revenue $197M (+78% year over year), operating margin 36.6%, net earnings $63.3M, operating cash flow $50.2M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 68.3% | 58.0% | +10.3 pts |
| Operating margin | 36.6% | 24.3% | +12.3 pts |
| Net margin | 32.1% | 34.7% | -2.6 pts |
| Free cash flow margin | 17.3% | 16.0% | +1.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Direct Customers Contract Manufacturers and Non Stocking Distributors | $89.2M | $78.2M | $11.0M | +14% |
| Stocking Distributors Net of Sales Allowances | $40.9M | $32.7M | $8.1M | +25% |
| Product | $130M | $111M | $19.1M | +17% |
| Royalty | $66.6M | $30.4M | $36.2M | +119% |
| Non Recurring Engineering | $462K | $2.0M | −$1.6M | -77% |
| Revenue | $197M | $143M | $53.8M | +38% |
| Gross profit | $135M | $83.1M | $51.6M | +62% |
| Cost of revenue | $62.4M | $60.2M | $2.2M | +4% |
| Other income, net | $6.6M | $4.0M | $2.5M | +63% |
| Operating profit | $72.1M | $34.9M | $37.3M | +107% |
| Operating expenses | $62.5M | $48.2M | $14.3M | +30% |
| Pre-tax earnings | $78.7M | $38.9M | $39.8M | +102% |
| Research & development | $24.0M | $20.6M | $3.3M | +16% |
| SG&A | $38.6M | $27.6M | $11.0M | +40% |
| Net earnings | $63.3M | $49.8M | $13.5M | +27% |
| Income tax | $15.4M | −$10.9M | $26.3M | — |
| Depreciation & amortization | $5.5M | $5.4M | $109K | +2% |
| Share-based compensation | $5.3M | $4.2M | $1.2M | +28% |
| Working capital & other | $24.0M | $25.2M | −$1.2M | -5% |
| Operating cash flow | $50.2M | $34.1M | $16.0M | +47% |
| Free cash flow (OCF − capex) | $34.0M | $23.0M | $11.1M | +48% |
| Capital expenditures | $16.1M | $11.2M | $5.0M | +44% |
Questions
How much did Vicor's revenue grow quarter over quarter in Q3 2026?
Vicor's revenue rose $53.8M (+38%) from $143M in Q2 2026 to $197M in Q3 2026.
What drove Vicor's revenue change in Q3 2026?
Royalty +$36.2M (+119%); Product +$19.1M (+17%); Non Recurring Engineering −$1.6M (-77%).