Filing Flows › Vicor (VICR) › Q4 2025
Vicor (VICR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Vicor (VICR) reported revenue of $107M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -3% from the quarter before. Operating margin was 14.6%, net earnings $46.5M (43.4% of revenue).
Vicor, Q4 2025: revenue $107M (+12% year over year), operating margin 14.6%, net earnings $46.5M, operating cash flow $15.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $107M | -3% | +12% |
| Gross profit | $59.4M | -6% | +18% |
| Operating profit | $15.7M | -25% | +70% |
| Net earnings | $46.5M | +64% | +354% |
| Operating cash flow | $15.7M | -59% | +55% |
| Free cash flow | $10.2M | -71% | +21% |
What changed
Revenue was $107.3M in Q4 2025, up 12% year over year and down 3% from the previous quarter. Direct Customers Contract Manufacturers and Non Stocking Distributors was the largest line at 56% of revenue.
Gross margin was 55.4%, up 3.0 points from a year earlier. Operating profit was $15.7M, a 14.6% margin (up 5.1 points year over year). Of the extra revenue versus a year earlier, 58% reached operating profit, above the 10% margin then. Operating expenses grew 6% against revenue growth of 12%. The fastest-growing cost line was Research & development (+21%). Net earnings were $46.5M, up 354% year over year. The tax line was a benefit of $27.3M on pre-tax earnings of $19.2M.
Operating cash flow was $15.7M (up 55% year over year), 34% of net earnings. Non-cash charges added back $5.2M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items used $40.4M. Capital expenditures of $5.5M left free cash flow of $10.2M.
Questions
What was Vicor's revenue in the fourth quarter 2025?
Vicor (VICR) reported revenue of $107M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -3% from the quarter before.
Was Vicor profitable in the fourth quarter 2025?
Operating profit was $15.7M (14.6% of revenue) and net earnings $46.5M.
Source: Vicor 10-K on SEC EDGAR.