Vicor Q2 revenue rises 27% to $143.4 million

• Vicor reported Q2 product and royalty revenue of $143.4 million, up 26.9% from the previous quarter.
• Vicor shares rose 4.1% to $240.50 in premarket trading after the earnings release.
• The company said rising demand is absorbing factory capacity and prompting preparations for a second ChiP manufacturing facility.

Vicor (NASDAQ:VICR) reported Q2 product and royalty revenue of $143.4 million, up 26.9% sequentially, as backlog reached $380 million.

Revenue increased from $113 million in Q1 and compared with $141 million last year, which included a $45 million litigation settlement.

Operating expenses rose to $48.2 million, while Vicor generated $34 million in operating cash flow and spent $11.2 million on capital expenditures.

Following the announcement, Vicor's share price was up 4.1% at $240.50 in premarket trading.

Meanwhile, product revenue reached $112.9 million, royalty revenue totalled $30.4 million and cash increased 12.2% sequentially to $453.6 million.

Elsewhere, Vicor raised its Q2 revenue guidance from $126 million to $142 million in May and said it is preparing for a second ChiP factory.