Vicor Corp (FRA:VCV)

€ 37.27 0.11 (0.3%) Market Cap: 1.72 Bil Enterprise Value: 1.50 Bil PE Ratio: 210.25 PB Ratio: 3.52 GF Score: 79/100

Q2 2024 Vicor Corp Earnings Call Transcript

Jul 23, 2024 / 09:00PM GMT

Release Date Price: €34.14 (+2.65%)

Transcript 10-Q8-K

Key Points

Positve

Vicor Corp (VICR) recorded total revenue of $85.9 million for Q2 2024, up 2.4% sequentially from Q1 2024.
Advanced product revenue increased 7.1% sequentially to $46.4 million.
Shipments to stocking distributors increased 33.1% year over year.
Operating expenses decreased 30.5% sequentially, primarily due to a reduction in legal fees and expenses.
The company ended Q2 with a strong cash position of $251.9 million.

Negative

Total revenue was down 19.6% from Q2 2023.
Brick products revenue decreased 2.7% sequentially to $39.5 million.
Consolidated gross profit margin decreased by 400 basis points to 49.8%, primarily due to a change in product mix.
Net loss for Q2 totaled $1.2 million, with a GAAP diluted loss per share of $0.03.
The company is unable to provide quarterly guidance due to uncertainties and a wide range of possible outcomes.

Operator

Thank you for standing by, and welcome to Vicor's second-quarter 2024 earnings conference call. (Operator Instructions) I would now like to hand the call over to Jim Schmidt, Chief Financial Officer. Please go ahead.

James Schmidt

Vicor Corp - Corporate Vice President, Chief Financial Officer, Treasurer, Corporate Secretary, Director

Thank you. Good afternoon and welcome to Vicor Corporation's earnings call for the second quarter ended June 30, 2024. I'm Jim Schmidt, Chief Financial Officer, and I am in Andover with Patrizio Vinciarelli, Chief Executive Officer. Phil Davies, Corporate Vice President, Global Sales and Marketing, is joining remotely.

After the markets closed today, we issued a press release summarizing our financial results for the three and six months ended June 30. This press release has been posted on the Investor Relations page of our website, www.vicorpower.com. We also filed a Form 8-K today related to the issuance of this press release.

I remind

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