Vicor Corporation reported mixed third-quarter results, with a significant revenue decline sequentially primarily due to a prior-period patent settlement, yet maintaining strong year-over-year growth.
- Q3 revenue of $110.4 million decreased 21.7% sequentially but increased 18.5% year-over-year.
- Advanced Products and Brick Products revenues rose 8.2% and 26.6% sequentially, respectively.
- Gross margin contracted to 57.5%, influenced by the prior quarter's settlement, but improved by 840 basis points year-over-year.
- Net income of $28.3 million translated to a GAAP diluted EPS of $0.63, underpinned by a favorable tax benefit.
- Licensing revenue run rate nears $90 million annually, with expectations for significant expansion driven by AI applications.
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