Vicor product and royalty SOTP

Sources

1. Q2 2026 product and royalty revenue $143.4M, up 26.9% sequentially from $113.0M. Royalty revenue $30.4M. Gross margin 58%. Income from operations $34.9M. Cash and cash equivalents $453.6M at June 30, 2026. One-year backlog $379.7M. Management guided a nearly 10% Q3 revenue increase and over $600M of 2026 revenue. — sec.gov (accessed 2026-08-25)
2. Q2 2026 10-Q: cash $453.6M, total liabilities $59.6M with no long-term debt, common shares outstanding 34,389,014 plus Class B 11,717,718 as of July 22, 2026. Diluted weighted-average shares 47.708 million. Diluted EPS $1.04 including a $10.9M tax benefit. — sec.gov (accessed 2026-08-25)
3. Q2 2026 earnings call: advanced products $94.2M (65.7% of revenue); newest license contributed $15M in Q2, then $5M in Q3 and $10M per quarter for the following four quarters; 2026 guide is conservative on further licenses pending the second ITC case in 2027; CHIPS Act ITC refund of $14.3M received July 13. — fool.com (accessed 2026-08-25)
4. Four-analyst S&P Global consensus on StockAnalysis as of Aug 25, 2026: Buy, average target $386.25 (Needham $320, Roth $375, Craig-Hallum $450). Street 2026 revenue $604M and 2027 $940M. — stockanalysis.com (accessed 2026-08-25)
5. Public Modeledge research: OpenAI 750MW Cerebras commitment is an indirect Vicor hardware-demand path, not a token-royalty stream. Cerebras content per system is undisclosed. — modeledge.ai (accessed 2026-08-25)