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10-Q Filing

VICOR CORP CIK: 751978 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001193125-23-134082
Period End Date 20230331
Filing Date 20230503
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance d471799d10q_htm.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $190.61M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $192.90M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $61.06M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $65.43M USD Point-in-time
Inventories InventoryNet $107.38M USD Point-in-time
Inventories InventoryNet $101.41M USD Point-in-time
Other current assets OtherAssetsCurrent $5.03M USD Point-in-time
Treasury stock, shares TreasuryStockShares 11.63M shares Point-in-time
Treasury stock, shares TreasuryStockShares 11.63M shares Point-in-time
Other current assets OtherAssetsCurrent $5.15M USD Point-in-time
Total current assets AssetsCurrent $366.37M USD Point-in-time
Total current assets AssetsCurrent $362.60M USD Point-in-time
Long-term deferred tax assets, net DeferredIncomeTaxAssetsNet $280.00K USD Point-in-time
Long-term deferred tax assets, net DeferredIncomeTaxAssetsNet $280.00K USD Point-in-time
Long-term investment, net LongTermInvestments $2.63M USD Point-in-time
Long-term investment, net LongTermInvestments $2.62M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $166.01M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $167.81M USD Point-in-time
Other assets OtherAssetsNoncurrent $5.39M USD Point-in-time
Other assets OtherAssetsNoncurrent $7.16M USD Point-in-time
Total assets Assets $536.90M USD Point-in-time
Total assets Assets $544.25M USD Point-in-time
Accounts payable AccountsPayableCurrent $16.79M USD Point-in-time
Accounts payable AccountsPayableCurrent $22.21M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $10.85M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $11.32M USD Point-in-time
Accrued litigation LitigationReserveCurrent $6.50M USD Point-in-time
Accrued litigation LitigationReserveCurrent $6.50M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $4.77M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $8.61M USD Point-in-time
Short-term lease liabilities OperatingLeaseLiabilityCurrent $1.45M USD Point-in-time
Short-term lease liabilities OperatingLeaseLiabilityCurrent $1.46M USD Point-in-time
Sales allowances SalesAllowancesCurrent $1.66M USD Point-in-time
Sales allowances SalesAllowancesCurrent $2.39M USD Point-in-time
Accrued severance and other charges AccruedSeveranceCostAndOtherChargesCurrent $13.00K USD Point-in-time
Accrued severance and other charges AccruedSeveranceCostAndOtherChargesCurrent - USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $72.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $663.00K USD Point-in-time
Short-term deferred revenue and customer prepayments DeferredRevenueCurrent $13.20M USD Point-in-time
Short-term deferred revenue and customer prepayments DeferredRevenueCurrent $9.77M USD Point-in-time
Total current liabilities LiabilitiesCurrent $53.67M USD Point-in-time
Total current liabilities LiabilitiesCurrent $64.55M USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $145.00K USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $2.18M USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $862.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $869.00K USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $6.87M USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $7.01M USD Point-in-time
Total liabilities Liabilities $63.60M USD Point-in-time
Total liabilities Liabilities $72.56M USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $365.44M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $360.37M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $254.32M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $243.08M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-993.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-988.00K USD Point-in-time
Treasury stock at cost: 11,634,806 shares in 2023 and 2022 TreasuryStockValue $138.93M USD Point-in-time
Treasury stock at cost: 11,634,806 shares in 2023 and 2022 TreasuryStockValue $138.93M USD Point-in-time
Total Vicor Corporation stockholders' equity StockholdersEquity $480.40M USD Point-in-time
Total Vicor Corporation stockholders' equity StockholdersEquity $464.09M USD Point-in-time
Noncontrolling interest MinorityInterest $254.00K USD Point-in-time
Noncontrolling interest MinorityInterest $248.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $464.34M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $423.90M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $480.66M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $432.19M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $544.25M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $536.90M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $97.82M USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $88.28M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $50.68M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $51.28M USD 1 Quarter
Gross margin GrossProfit $37.60M USD 1 Quarter
Gross margin GrossProfit $46.53M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $20.22M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $18.57M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $15.87M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $14.25M USD 1 Quarter
Total operating expenses OperatingExpenses $32.82M USD 1 Quarter
Total operating expenses OperatingExpenses $36.09M USD 1 Quarter
Income from operations OperatingIncomeLoss $10.44M USD 1 Quarter
Income from operations OperatingIncomeLoss $4.78M USD 1 Quarter
Total unrealized gains (losses) on available-for-sale securities, net MarketableSecuritiesUnrealizedGainLoss $9.00K USD 1 Quarter
Total unrealized gains (losses) on available-for-sale securities, net MarketableSecuritiesUnrealizedGainLoss $-103.00K USD 1 Quarter
Less: portion of (gains) losses recognized in other comprehensive income UnrealizedGainLossOnInvestments $-9.00K USD 1 Quarter
Less: portion of (gains) losses recognized in other comprehensive income UnrealizedGainLossOnInvestments $104.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss - USD 1 Quarter
Net credit gains recognized in earnings AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss $1.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $161.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.95M USD 1 Quarter
Total other income, net NonoperatingIncomeExpense $162.00K USD 1 Quarter
Total other income, net NonoperatingIncomeExpense $1.95M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.94M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.39M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-48.00K USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $1.14M USD 1 Quarter
Consolidated net income ProfitLoss $11.25M USD 1 Quarter
Consolidated net income ProfitLoss $4.99M USD 1 Quarter
Less: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-9.00K USD 1 Quarter
Less: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $7.00K USD 1 Quarter
Net income attributable to Vicor Corporation NetIncomeLoss $5.00M USD 1 Quarter
Net income attributable to Vicor Corporation NetIncomeLoss $11.24M USD 1 Quarter
Basic EarningsPerShareBasic $0.11 USD 1 Quarter
Basic EarningsPerShareBasic $0.25 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.25 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.11 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 43.95M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 44.16M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 44.95M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 44.91M shares 1 Quarter
Cash Flow Statement 42 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $11.25M USD 1 Quarter
Consolidated net income ProfitLoss $4.99M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $3.30M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.20M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $1.99M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $2.82M USD 1 Quarter
Increase (decrease) in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-81.00K USD 1 Quarter
Increase (decrease) in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $2.04M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $-62.00K USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $-33.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $7.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $5.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $2.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits - USD 1 Quarter
Credit gain on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss - USD 1 Quarter
Credit gain on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss $1.00K USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInCurrentAssetsAndLiabilities $5.68M USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInCurrentAssetsAndLiabilities $10.23M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $4.58M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $10.11M USD 1 Quarter
Sales or maturities of short-term investments ProceedsFromSaleMaturityAndCollectionsOfInvestments - USD 1 Quarter
Sales or maturities of short-term investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $25.00M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $22.68M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $10.09M USD 1 Quarter
Net cash (used for) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-10.09M USD 1 Quarter
Net cash (used for) provided by investing activities NetCashProvidedByUsedInInvestingActivities $2.32M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromStockPlans $2.26M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromStockPlans $1.81M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $2.26M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.81M USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-80.00K USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.00K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $2.29M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $8.63M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $192.90M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $191.05M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $182.42M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $190.61M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $192.90M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $191.05M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $182.42M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $190.61M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $464.34M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $423.90M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $480.66M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $432.19M USD Point-in-time
Issuance of Common Stock under employee stock plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $2.26M USD 1 Quarter
Issuance of Common Stock under employee stock plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.81M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.99M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.82M USD 1 Quarter
Net income (loss) ProfitLoss $11.25M USD 1 Quarter
Net income (loss) ProfitLoss $4.99M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-6.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-510.00K USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $11.24M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.48M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $464.34M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $423.90M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $480.66M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $432.19M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $11.25M USD 1 Quarter
Recognized income tax benefit (provision) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Consolidated net income ProfitLoss $4.99M USD 1 Quarter
Recognized income tax benefit (provision) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Foreign currency translation losses, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-194.00K USD 1 Quarter
Foreign currency translation losses, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-15.00K USD 1 Quarter
Unrealized income (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-316.00K USD 1 Quarter
Unrealized income (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $9.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-6.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-510.00K USD 1 Quarter
Consolidated comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $11.24M USD 1 Quarter
Consolidated comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.48M USD 1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $6.00K USD 1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-23.00K USD 1 Quarter
Comprehensive income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $11.24M USD 1 Quarter
Comprehensive income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $4.50M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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