Filing Flows › Vicor (VICR) › Q3 2026
Vicor (VICR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 26, 2026
Vicor (VICR) reported revenue of $197M for the third quarter 2026 (Q3 2026), +79% from a year earlier and +38% from the quarter before. Operating margin was 36.6%, net earnings $63.3M (32.1% of revenue).
Vicor, Q3 2026: revenue $197M (+78% year over year), operating margin 36.6%, net earnings $63.3M, operating cash flow $50.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $197M | +38% | +79% |
| Gross profit | $135M | +62% | +112% |
| Operating profit | $72.1M | +107% | +245% |
| Net earnings | $63.3M | +27% | +124% |
| Operating cash flow | $50.2M | +47% | +30% |
| Free cash flow | $34.0M | +48% | -1% |
What changed
Revenue was $197.1M in Q3 2026, up 79% year over year and up 38% from the previous quarter. Direct Customers Contract Manufacturers and Non Stocking Distributors was the largest line at 45% of revenue. Royalty added $44.9M year over year (up 207%), 52% of the total change. Non Recurring Engineering declined 18%.
Gross margin was 68.3%, up 10.8 points from Q3 2025. Operating profit was $72.1M, a 36.6% margin (up 17.7 points year over year). Of the extra revenue versus Q3 2025, 59% reached operating profit, above the 19% margin then. Operating expenses grew 47% against revenue growth of 79%. The fastest-growing cost line was SG&A (+70%). Net earnings were $63.3M, up 124% year over year. The effective tax rate was 19.6%.
Operating cash flow was $50.2M (up 30% year over year), 79% of net earnings. Non-cash charges added back $5.5M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items used $24.0M. Capital expenditures of $16.1M left free cash flow of $34.0M.
Questions
What was Vicor's revenue in the third quarter 2026?
Vicor (VICR) reported revenue of $197M for the third quarter 2026 (Q3 2026), +79% from a year earlier and +38% from the quarter before.
Was Vicor profitable in the third quarter 2026?
Operating profit was $72.1M (36.6% of revenue) and net earnings $63.3M.
Source: Vicor 10-Q on SEC EDGAR.