CORRECTED-Vicor Q4 revenue slightly misses estimates

Overview

• Power components maker's Q4 revenue slightly missed analysts' expectations

• Net income for Q4 rose significantly due to a $27.3 mln tax benefit

• Company's cash and cash equivalents rose 11.2% sequentially to $402.8 mln

Outlook

• Vicor expects record product revenues in 2026 due to rising demand in key sectors

• Company anticipates record IP licensing revenues in 2026 amid trade investigations

• Vicor plans to expand capacity with a second fab and explore alternate sourcing

Result Drivers

• PRODUCT REVENUE GROWTH - Product revenue increased 15.3% yr/yr, driven by demand across various applications

• ROYALTY REVENUE DECLINE - Sequential decline in royalty revenue due to a catch-up amount included in Q3 results

• TAX BENEFIT IMPACT - Net income boosted by $27.3 mln tax benefit from recognition of deferred tax assets

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electrical components & equipment peer group is "buy"

• Wall Street's median 12-month price target for Vicor Corp is $177.50, about 14.1% above its February 18 closing price of $155.61

• The stock recently traded at 82 times the next 12-month earnings vs. a P/E of 54 three months ago

Press Release: ID:nGNX8HLyZx

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.