Vicor

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus across all profitability metrics, primarily driven by a surge in high-margin royalty revenue and a substantial tax benefit. Revenue of $143.4M beat the $138.4M consensus, while GAAP EPS of $1.04 outperformed the $0.64 mean estimate. Advanced Products grew 55.5% YoY, supported by AI-related demand and a new licensing agreement. Despite higher freight and tariff costs, the release of tax valuation allowances and strong backlog growth to $379.7M (+26% QoQ) suggest robust forward momentum.