Summary
Vicor Corporation (VICR) Q4 2025 Earnings Call Transcript
Vicor Corporation (VICR) Q4 2025 Earnings Call Transcript
Vicor: Powering The Next Generation Of AI Clusters
Vicor Corporation is rated a buy for growth investors, driven by its unique positioning in next-gen data center power delivery. VICR's Gen 5 chipsets and vertical power delivery systems offer a strong technological moat, targeting surging AI-driven power demands. Despite recent revenue volatility from a patent settlement, VICR demonstrates robust margin expansion, resilient cash flows, and a debt-free balance sheet.
Vicor: The Narrative Has Changed (Rating Upgrade)
Vicor Corporation is upgraded to a buy as Q3 results show accelerating revenue, expanding margins, and robust cash flow. VICR's licensing business is thriving, the backlog is growing, and profitability is on a strong upward trajectory, signaling a successful turnaround. Despite a premium to sector P/E, VICR trades below its five-year average, suggesting potential for multiple expansion as fundamentals improve.
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Vicor Corporation Profile
| Automobile Components Industry | Consumer Discretionary Sector | Patrizio Vinciarelli CEO | NASDAQ (NGS) Exchange | 925815102 CUSIP |
| US Country | 1,074 Employees | - Last Dividend | 19 Sep 1995 Last Split | 27 Nov 1991 IPO Date |
Overview
Vicor Corporation, along with its subsidiaries, specializes in the design, development, manufacture, and marketing of modular power components and power systems. These products are crucial for converting electrical power across multiple regions including the United States, Europe, the Asia Pacific, and other international areas. Established in 1981 and headquartered in Andover, Massachusetts, Vicor Corporation caters to a diverse clientele. This includes independent manufacturers of electronic devices, original equipment manufacturers (OEMs), and their contract manufacturers. The company’s product applications span across various industries such as aerospace and aviation, defense electronics, industrial automation and equipment, instrumentation, test equipment, solid state lighting, telecommunications and networking infrastructure, and vehicles and transportation.
Products and Services
- Brick-Format DC-DC Converters:
- Complementary Components:
- Input and Output Voltage Products:
- Output Power Products:
- Electrical and Mechanical Accessories:
- Custom Power Systems Solutions:
Vicor’s brick-format DC-DC converters are designed to meet a wide variety of power conversion needs across different voltage and power ranges. These converters are integral to providing efficient, reliable power conversion in a standardized footprint for easy integration into a wide range of electronic devices and systems.
The company provides a range of complementary components that work alongside their DC-DC converters. These components are essential for enhancing performance, enabling more complex power systems solutions, and meeting the specific needs of various applications and industries.
Vicor offers products that cater to specific input and output voltage requirements. This allows for tailored power supply solutions that match the electrical characteristics of different devices, ensuring optimal performance and compatibility.
These products are focused on delivering specific output power levels to meet the demands of various electronic devices and systems. Vicor's range of output power products ensures that customers can find a power solution that matches their requirements, whether for low-power or high-power applications.
To support the integration and operation of its power systems, Vicor offers a variety of electrical and mechanical accessories. These accessories facilitate easy installation, enhance functionality, and help in achieving an optimal setup for the specific needs of the customer’s application.
Apart from its standard products, Vicor also provides custom power systems solutions tailored to the unique requirements of its customers. These bespoke solutions leverage Vicor's extensive expertise in power system design to meet the specific needs of applications in various industries, addressing challenges such as unique voltage or power specifications, form factor constraints, or environmental conditions.
