Filing Flows › Vicor (VICR) › How it makes money
How Vicor (VICR) makes money
Vicor (VICR) made $197M of revenue in the third quarter 2026 (Q3 2026), +79% from a year earlier. Product brought in $130M (66%); Royalty brought in $66.6M (34%); Non Recurring Engineering brought in $462K (0%). Of every dollar of revenue, 68¢ was left as gross profit, 37¢ was left as operating profit, 32¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product | $130M | 66.0% | +17% | +48% |
| ↳ Direct Customers Contract Manufacturers and Non Stocking Distributors | $89.2M | 45.2% | +14% | +69% |
| ↳ Stocking Distributors Net of Sales Allowances | $40.9M | 20.7% | +25% | +16% |
| Royalty | $66.6M | 33.8% | +119% | +207% |
| Non Recurring Engineering | $462K | 0.2% | -77% | -18% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $197M | 100.0% |
| Cost of revenue | $62.4M | 31.7% |
| Gross profit | $135M | 68.3% |
| Operating expenses | $62.5M | 31.7% |
| Operating profit | $72.1M | 36.6% |
| Income tax | $15.4M | 7.8% |
| Net earnings | $63.3M | 32.1% |
| Operating cash flow | $50.2M | 25.5% |
| Free cash flow | $34.0M | 17.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $197M | +78% |
| Q2 2026 | $143M | +2% |
| Q1 2026 | $113M | +20% |
| Q4 2025 | $107M | +12% |
| Q3 2025 | $110M | +18% |
| Q2 2025 | $141M | +64% |
| Q1 2025 | $94.0M | +12% |
From Vicor's 10-Q filed Oct 26, 2026 (on EDGAR).
Questions
How does Vicor make money?
Vicor (VICR) made $197M of revenue in the third quarter 2026 (Q3 2026), +79% from a year earlier. Product brought in $130M (66%); Royalty brought in $66.6M (34%); Non Recurring Engineering brought in $462K (0%). Of every dollar of revenue, 68¢ was left as gross profit, 37¢ was left as operating profit, 32¢ was left as net earnings.
What is Vicor's biggest business?
Product: $130M in the third quarter 2026, 66% of revenue, +48% from a year earlier.
What is Vicor's profit margin?
Net earnings were $63.3M, 32.1% of revenue, in the third quarter 2026; the operating margin was 36.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.