The following is a summary of the Vicor Corporation (VICR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Vicor's Q1 revenue stood at $83.9 million, marking a 9.5% decrease from the last quarter and 14.3% plunge from the first quarter of 2023.
However, the company improved the gross profit margin, recording 53.8% for the quarter.
Diluted earnings per share were $0.06, while the net income was $2.6 million for Q1, and the operating cash flow for the period was approximately $2.7 million.
The cash and cash equivalent at the end of the reporting period was $239.2 million.
Vicor reported an increased contribution from royalty to its revenue and bottom line.
Business Progress:
Vicor is actively working on lateral vertical designs that could fetch potential revenue by the end of 2024 or early 2025.
Vicor is planning to roll out more than 20 high-power density products for their Industrial and Aerospace and Defense Business Unit, leveraging their new chip fabrication capabilities.
They are open to specific licensing opportunities in the automotive market.
Vicor's High-Performance Computing (HPC) customer engagements have registered expansion, with production targets centered around new and increased performance AI processes.
The company targets to monetize and scale its business through interaction with OEMs and automotive Tier 1 suppliers, majorly focusing on electric vehicles and 48-volt zonal architectures.
Vicor reported filling up of their new facility that could generate over $1 billion in product revenues in the next three years.
Vicor reported design wins with two smaller automakers for their 150-kilowatt onboard 800 to 400-volt charger, and anticipate significant business growth from HPC and Gen 5 by 2025. The growth across industrial, defense, and aerospace sectors can contribute to their margins and revenues.
More details: Vicor IR
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