Vicor Corp (NASDAQ: $VICR), which designs and makes high-performance modular power solutions and components, released its Q3 fiscal 2025 results on Tuesday, October 21, 2025, after markets closed.
Vicor Corp Q3 Results
For the third quarter of fiscal 2025, Vicor Corp reported an adjusted EPS of $0.63, beating estimates of $0.17. It reported revenue of $110.4 million, above forecasts of $95.4 million, and an 18.5% YoY increase. However, revenue was down 21.7% from Q2, when it reported $141 million in revenue, inclusive of a $45 million patent litigation settlement.
The company reported a gross margin of 57.5% compared to 49.1% last year and 65.3% in Q2 2025. It reported a net income of $28.3 million, up from the $11.6 million reported the previous year.
Vicor Corp reported a backlog of $152.8 million, which was a 1.5% increase from the previous year, but lower than the $155.2 million reported in the previous quarter. Meanwhile, cash and cash equivalents were up 7% from the second quarter of this year to $362.4 million.
Vicor Corp reported capital expenditures of $4 million for the quarter, down from the $8.4 million reported a year ago and the $6.2 million reported in Q2 fiscal 2025.
Commenting on the results, CEO Dr. Patrizio Vinciarelli stated that “Licensing revenue reached a record rate in Q3 following the litigation settlement for prior infringement recorded in Q2.” The CEO added that “As high-density power systems pioneered by Vicor are on the critical path of high-performance computing, I expect Vicor’s IP licensing practice to grow substantially.”
Vicor Stock (VICR) Performance
There had been high expectations about the results, with the stock rising over 17% during the Tuesday trading session, before finally closing 13.37% up at $65.80. When the earnings results were finally released, they did not disappoint, and the upward stock price continued on Wednesday, October 22, 2025.
During the early morning trading session on Wednesday, October 22, 2025, the stock price rose 32.42% to $87.13 as of 9:38 AM in New York. Year to date, VICR shares are up 77.79% while over the past 12 months, the stock has risen 97.77%. The stock has seen significant gains, increasing 83.41% over the past six months and 57% in the past month.
Despite the positive performance, analysts remain cautious, giving it a hold rating. They forecast a high of $59 and a low of $59 for the stock. The stock is currently trading near the high end of its 52-week range of $38.92 – $89.71.
Is Vicor (VICR) A Buy?
With data center growth expected to continue amid the AI boom, Vicor Corp will continue to play an essential role in the supply chain. Data centers are power hungry and require top-of-the-line power management systems that Vicor is ideally suited to deliver. Additionally, management expects revenue from the IP licensing practice to grow. While analysts give it a hold, VICR is a stock worth keeping a close eye on.
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