VICOR CORP (VICR) FY2025 10-K Annual Report
VICOR CORP (VICR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 2, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
VICOR CORP FY2025 10-K Analysis
Business Overview
- • Core business model: Design, manufacture, and market modular power components and systems for efficient DC and AC voltage conversion across diverse electronic applications
- • Emphasis on proprietary Factorized Power Architecture (FPA) Advanced Products driving higher efficiency and power density, with increasing revenue share reaching ~61% in 2025
Management Discussion & Analysis
- • Revenue $407.7M in 2025, up 13.5% YoY from $359.1M in 2024; Advanced Products revenue $248.6M (+26.0%), Brick Products $159.1M (-1.6%)
- • Gross margin 57.3% in 2025 vs 51.2% in 2024, gross margin dollars $259.4M vs $184.0M, boosted by $45M patent litigation settlement and higher sales volume
Risk Factors
- • Regulatory risk from Section 301 Tariffs on Chinese imports costing $7.375M in 2025, up 76.1% YoY, reducing gross profit margin by 1.8% of net revenues
- • Geopolitical risk from U.S.-China trade disputes and export controls impacting 11.9% of revenues from China/Hong Kong customers in 2025
VICOR CORP FY2025 Key Financial MetricsXBRL
Revenue
$408M
▲ +13.5% YoY
Net Income
$119M
▲ +1834.3% YoY
Gross Margin
63.6%
▲ +1239bp YoY
Operating Margin
20.1%
▲ +2044bp YoY
Net Margin
29.1%
▲ +2737bp YoY
ROE
16.7%
▲ +1559bp YoY
Total Assets
$786M
▲ +22.6% YoY
EPS (Diluted)
$2.61
▲ +1764.3% YoY
Operating Cash Flow
$140M
▲ +174.5% YoY
Source: XBRL data from VICOR CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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