Vicor Corp Files Q3 2024 10-Q
Ticker: VICR · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 751978
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Vicor's Q3 2024 10-Q is in, showing latest financials. Check it for performance details.
AI Summary
Vicor Corporation filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and business segment performance are presented, reflecting the company's ongoing activities in the electronic components sector.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of Vicor Corporation, crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.
Key Numbers
- $01810 — ZIP Code (Business address zip code for Vicor Corp)
- (978) 470-2900 — Business Phone (Contact number for Vicor Corp)
Key Players & Entities
- Vicor Corp (company) — Filer of the 10-Q
- 2024-09-30 (date) — Reporting period end date
- 2024-10-30 (date) — Filing date
FAQ
What is the fiscal year end for Vicor Corp?
Vicor Corp's fiscal year ends on December 31.
What is the Standard Industrial Classification code for Vicor Corp?
The SIC code for Vicor Corp is 3679 (ELECTRONIC COMPONENTS, NEC).
When was the 10-Q filing submitted?
The 10-Q filing was submitted on October 30, 2024.
What is the SEC file number for Vicor Corp?
The SEC file number for Vicor Corp is 000-18277.
What is the state of incorporation for Vicor Corp?
Vicor Corp is incorporated in Delaware (DE).
Filing Stats: 4,295 words · 17 min read · ~14 pages · Grade level 20 · Accepted 2024-10-30 13:34:22
Key Financial Figures
- $0.01 — registered Common Stock , par value $0.01 per share VICR The NASDAQ Stock Mar
Filing Documents
- vicr-20240930.htm (10-Q) — 2164KB
- vicr-ex31_1.htm (EX-31.1) — 20KB
- vicr-ex31_2.htm (EX-31.2) — 20KB
- vicr-ex32_1.htm (EX-32.1) — 7KB
- vicr-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-118784.txt ( ) — 7544KB
- vicr-20240930.xsd (EX-101.SCH) — 727KB
- vicr-20240930_htm.xml (XML) — 1547KB
— Financial Information
Part I — Financial Information:
- Financial Statements (Unaudited)
Item 1 - Financial Statements (Unaudited) Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Equity for the three and nine months ended September 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 7
— Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 — Management's Discussion and Analysis of Financial Condition and Results of Operations 16
— Quantitative and Qualitative Disclosures About Market Risk
Item 3 — Quantitative and Qualitative Disclosures About Market Risk 26
— Controls and Procedures
Item 4 — Controls and Procedures 27
— Other Information
Part II — Other Information: 28
— Legal Proceedings
Item 1 — Legal Proceedings 28
— Risk Factors
Item 1A — Risk Factors 28
— Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds 28
— Other Information
Item 5 — Other Information 28
— Exhibits
Item 6 — Exhibits 29
Signatures
Signatures 30 EX-31.1 SECTION 302 CERTIFICATION OF CEO EX-31.2 SECTION 302 CERTIFICATION OF CFO EX-32.1 SECTION 906 CERTIFICATION OF CEO EX-32.2 SECTION 906 CERTIFICATION OF CFO Table of Contents VICOR CORPORATION Pa rt I – Financial Information
– Fin ancial Statements
Item 1 – Fin ancial Statements Condensed Consoli dated Balance Sheets (In thousands, except share data) (Unaudited) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 267,605 $ 242,219 Accounts receivable, net 58,525 52,631 Inventories 105,761 106,579 Other current assets 18,933 18,937 Total current assets 450,824 420,366 Long-term deferred tax assets, net 288 296 Long-term investment, net 2,640 2,530 Property, plant and equipment, net 158,779 157,689 Other assets 20,231 14,006 Total assets $ 632,762 $ 594,887 Liabilities and Equity Current liabilities: Accounts payable $ 15,724 $ 12,100 Accrued compensation and benefits 12,449 11,227 Accrued litigation 26,550 6,500 Accrued expenses 6,429 5,093 Short-term lease liabilities 1,739 1,864 Sales allowances 2,640 3,482 Income taxes payable 642 746 Short-term deferred revenue and customer prepayments 4,198 3,157 Total current liabilities 70,371 44,169 Long-term deferred revenue — 1,020 Long-term income taxes payable 1,916 2,228 Long-term lease liabilities 5,605 6,364 Total liabilities 77,892 53,781 Commitments and contingencies (Note 10) Equity: Vicor Corporation stockholders' equity: Class B Common Stock: 10 votes per share, $ .01 par value, 14,000,000 shares authorized, 11,738,718 shares issued and outstanding in 2024; 11,743,218 shares issued and outstanding in 2023 118 118 Common Stock: 1 vote per share, $ .01 par value, 62,000,000 shares authorized 45,043,443 shares issued and 33,394,333 shares outstanding in 2024; 44,142,595 shares issued and 32,507,789 shares outstanding in 2023 452 445 Additional paid-in capital 402,117 383,832 Retained earnings 292,557 296,674 Accumulated other comprehensive loss ( 1,198 ) ( 1,273 ) Treasury stock at cost: 11,649,110 shares in 2024 and 11