CV Research(@CVResearch_):$VICR just reported Q3. -Revenue: $197.1M, up 78.5% year over year and 37.5% from last quarter -Royalty revenue: $66.6M vs $21.7M a year ago -Gross margin: 68.3%, up from 58.0% last quarter -EPS: $1.33 vs $0.63 a year ago -Cash from operations: $69.7M -Cash: $513.1M -Backlog: $406M, up 166% year over year Key takeaways: -Margins stepped up again. Gross margin is now 68.3%. Royalties are over a third of revenue. -The first license for the newest power delivery tech went to an AI OEM. -They’re buying two more sites, which management says gives nearly 5X the capacity of Fab-1 across 3 fabs. -Backlog keeps growing and demand is still ahead of supply.

2026.10.20 12:13

$VICR just reported Q3. -Revenue: $197.1M, up 78.5% year over year and 37.5% from last quarter -Royalty revenue: $66.6M vs $21.7M a year ago -Gross margin: 68.3%, up from 58.0% last quarter -EPS: $1.33 vs $0.63 a year ago -Cash from operations: $69.7M -Cash: $513.1M -Backlog: $406M, up 166% year over year Key takeaways: -Margins stepped up again. Gross margin is now 68.3%. Royalties are over a third of revenue. -The first license for the newest power delivery tech went to an AI OEM. -They’re buying two more sites, which management says gives nearly 5X the capacity of Fab-1 across 3 fabs. -Backlog keeps growing and demand is still ahead of supply.