Vicor Corporation (VICR) Income Statement
VICR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVICR revenue and net income
Where VICR's revenue goes
2025Each bar shows an amount and its share of revenue. VICR kept 29.1% of revenue as net income.
VICR profit margins
VICR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.5% | +0.7% | +6.6% | +6.4% |
| Gross profit | +16.5% | +5.9% | +10.3% | +8.0% |
| Operating income | — | +10.6% | +16.2% | — |
| Net income | +1,834.3% | +67.0% | +45.9% | +37.4% |
| EPS (diluted) | +230.0% | +43.3% | +44.6% | +36.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VICR quarterly EPS vs estimates
Vicor beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 20, 2026 (estimate $1.38).
VICR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $407.7M | $359.1M | $405.1M | $399.1M | $359.4M | $296.6M | $263.0M | $291.2M | $227.8M | $200.3M |
| Cost of revenue | $193.3M | $175.1M | $200.1M | $218.5M | $181.2M | $165.1M | $140.0M | $152.2M | $126.2M | $109.1M |
| Gross profit | $214.4M | $184.0M | $204.9M | $180.6M | $178.2M | $131.4M | $123.0M | $139.0M | $101.7M | $91.2M |
| Research & development | $78.6M | $68.9M | $67.9M | $60.6M | $53.1M | $50.9M | $46.6M | $44.3M | $44.9M | $41.8M |
| Sales, general & admin | $99.0M | $95.9M | $85.7M | $86.3M | $69.5M | $63.2M | $62.6M | $62.2M | $58.1M | $55.7M |
| Total operating expenses | $177.6M | $185.3M | $153.6M | $153.4M | $122.6M | $114.1M | $109.1M | $106.9M | $103.0M | $97.5M |
| Operating income | $36.8M | −$1.3M | $51.4M | $27.2M | $55.6M | $17.4M | $13.8M | $32.1M | −$1.4M | −$6.3M |
| Interest income | $12.1M | $11.5M | $8.2M | $1.3M | $930,000 | $95,000 | $300,000 | $257,000 | $124,000 | $68,000 |
| Interest expense | — | — | — | $1.5M | $12.9M | $12.1M | $11.4M | $0 | $0 | $0 |
| Income before taxes | $94.6M | $10.5M | $60.2M | $28.7M | $56.8M | $18.5M | $14.9M | $32.9M | −$98,000 | −$6.0M |
| Income taxes | −$24.0M | $4.3M | $6.6M | $3.3M | $176,000 | $539,000 | $778,000 | $1.1M | −$356,000 | $231,000 |
| Net income | $118.6M | $6.1M | $53.6M | $25.4M | $56.6M | $17.9M | $14.1M | $31.7M | $167,000 | −$6.2M |
| EBITDA | $115.4M | $36.8M | $77.5M | $47.5M | $68.5M | $28.4M | $24.2M | $41.7M | $7.5M | $2.1M |
| EPS (diluted) | $2.97 | $0.90 | $1.32 | $1.01 | $1.42 | $0.47 | $0.33 | $0.78 | $0.01 | −$0.16 |
| Gross margin | 52.6% | 51.2% | 50.6% | 45.2% | 49.6% | 44.3% | 46.8% | 47.7% | 44.6% | 45.5% |
| Operating margin | 9.0% | −0.4% | 12.7% | 6.8% | 15.5% | 5.9% | 5.3% | 11.0% | −0.6% | −3.2% |
| Net margin | 29.1% | 1.7% | 13.2% | 6.4% | 15.8% | 6.0% | 5.4% | 10.9% | 0.1% | −3.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $143.4M | $113.0M | $107.3M | $110.4M | $141.0M | $94.0M | $96.2M | $93.2M | $85.9M | $83.9M | $92.7M | $107.8M |
| Cost of revenue | $60.2M | $50.6M | $47.8M | $46.9M | $48.9M | $49.6M | $45.8M | $47.4M | $43.1M | $38.7M | $45.3M | $52.0M |
| Gross profit | $83.1M | $62.4M | $59.4M | $63.5M | $92.1M | $44.4M | $50.4M | $45.7M | $42.8M | $45.1M | $47.3M | $55.9M |
| Research & development | $20.6M | $22.3M | $20.5M | $19.9M | $18.8M | $19.4M | $17.0M | $17.0M | $16.9M | $18.0M | $17.3M | $17.8M |
| Sales, general & admin | $27.6M | $23.2M | $23.2M | $22.7M | $28.0M | $25.1M | $23.7M | $23.4M | $23.3M | $26.0M | $22.7M | $22.4M |
| Total operating expenses | $48.2M | $45.5M | $43.7M | $42.6M | $46.7M | $44.5M | $41.2M | $40.4M | $42.6M | $44.0M | $40.0M | $40.2M |
| Operating income | $34.9M | $16.9M | $15.7M | $20.9M | $45.4M | −$149,000 | $9.2M | $5.4M | $214,000 | $1.1M | $7.3M | $15.7M |
| Interest income | $3.4M | $3.3M | $3.4M | $3.1M | $3.0M | $2.7M | $2.8M | $3.0M | $2.8M | $2.8M | $2.7M | $2.0M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $1.9M | — |
| Income before taxes | $38.9M | $20.4M | $19.2M | $33.3M | $49.0M | $3.0M | $11.8M | $9.1M | $3.0M | −$13.4M | $10.6M | $17.6M |
| Income taxes | −$10.9M | −$273,000 | −$27.3M | $5.0M | $7.8M | $424,000 | $1.5M | −$2.5M | $4.2M | $1.1M | $1.9M | $1.0M |
| Net income | $49.8M | $20.7M | $46.5M | $28.3M | $41.2M | $2.5M | $10.2M | $11.6M | −$1.2M | −$14.5M | $8.7M | $16.6M |
| EBITDA | $44.3M | $25.7M | $24.4M | $38.5M | $54.2M | $8.2M | $16.4M | $13.8M | $7.2M | $5.7M | $14.6M | $20.3M |
| EPS (diluted) | $1.04 | $0.52 | $1.10 | $0.73 | $1.00 | $0.14 | $0.30 | $0.35 | $0.10 | $0.15 | $0.19 | $0.37 |
| Gross margin | 58.0% | 55.2% | 55.4% | 57.5% | 65.3% | 47.2% | 52.4% | 49.1% | 49.8% | 53.8% | 51.1% | 51.8% |
| Operating margin | 24.3% | 14.9% | 14.6% | 18.9% | 32.2% | −0.2% | 9.6% | 5.8% | 0.2% | 1.3% | 7.9% | 14.6% |
| Net margin | 34.7% | 18.3% | 43.4% | 25.6% | 29.2% | 2.7% | 10.7% | 12.4% | −1.4% | −17.3% | 9.4% | 15.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VICR's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VICR financial results
In fiscal year 2025 (ended December 31, 2025), Vicor reported revenue of $407.7 million, up 13.5% from the year before. It had net income of $118.6 million (up 1,834.3%), a net profit margin of 29.1%. Diluted earnings per share came to $2.97. Over five years revenue grew at an average rate of 6.6% a year.
See the VICR stock overview for the latest quote and news, or the VICR chart for price history and technical indicators.
VICR income statement FAQ
What is Vicor's annual revenue?
Vicor reported total revenue of $407.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 13.5% from $359.1 million the previous year.
Is Vicor profitable?
Yes. Vicor reported net income of $118.6 million in fiscal 2025, a net profit margin of 29.1%; its operating margin was 9.0%.
What is Vicor's gross margin?
Vicor's gross margin was 52.6% in fiscal 2025: for every $100 of revenue, Vicor kept $53 after the direct cost of its products and services.
How much does Vicor spend on research and development?
Vicor spent $78.6 million on research and development in fiscal 2025, 19.3% of revenue.
How fast is Vicor growing?
Revenue grew 6.6% a year on average over the last five fiscal years, from $296.6 million to $407.7 million.
What are Vicor's earnings per share?
Vicor earned $2.97 per diluted share in fiscal 2025, compared with $0.90 a year earlier.
When will Vicor report its next earnings?
Vicor is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 before the market opens.
When does Vicor's fiscal year end?
Vicor's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.