Vicor

What Vicor does

Vicor Corporation (NASDAQ: VICR), founded in 1981 by Patrizio Vinciarelli and headquartered in Andover, Massachusetts, is a publicly traded designer and manufacturer of high-density modular power components and systems. The company's portfolio centers on proprietary DC-DC converter modules — including DCM (Direct Current Module), BCM (Bus Converter Module), PRM (Power Regulator Module), and VTM (Voltage Transformation Module / current multiplier) — supported by AC-DC front-end modules, EMI filters, MIL-COTS military variants, and custom-configured Vicor Power Systems. Core technology is built around Factorized Power Architecture (FPA), Vertical Power Delivery (VPD), and Sine Amplitude Conversion (SAC), packaged in proprietary ChiP form factors that deliver industry-leading power density (up to 770 W/in³ with the BCM6135/BCM4414).

Vicor serves aerospace and defense (VPX, VITA 62, SOSA-aligned power supplies for radar, EW, and avionics), automotive and eMobility (48V architectures, HV-to-SELV conversion for EVs), high-performance computing and AI (VPD for GPU/wafer-scale processors, including sampling to Cerebras in Q1 2027), industrial and robotics, satellite/space (the AI1 Transponder with Spacechips delivering 133 TOPS in orbit), and battery/test equipment. Distribution combines a direct enterprise sales force with a global authorized distributor network and online design tools (Power System Designer, Whiteboard, Power System Configurator).

The revenue model combines product sales (Q1 2026 product revenue $98M, +18% YoY) with IP licensing and royalties (Q1 2026 royalties $14.97M, +39% YoY, at near-100% gross margin). Licensing momentum has accelerated following a 2025 U.S. ITC exclusion order against infringing imports, with management targeting $200-300M in licensing revenue and a long-term goal of $2.5B total revenue, 70% gross margin, and 40% operating margin. Capacity is being scaled via a 95,000 sq ft ChiP fab in Andover (~$800M current run rate, targeting $1.5B) and a planned second fab.

Name

Vicor

Legal name

Vicor Corporation

Website

https://vicorpower.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Vicor Corporation is a public manufacturer of modular power components and systems, specializing in high-density DC-DC and AC-DC converters using proprietary 48V power delivery architectures. It serves aerospace, defense, automotive, AI/HPC, and industrial markets via direct sales and IP licensing.

Ownership category

akta.pro rank

Product category

Modular Power Components

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Electrical Equipment Manufacturing (33531)

SIC

Electronic Coils, Transformers & Other Inductors (3677), Switchgear & Switchboard Apparatus (3613)

akta.pro primary industry

DC-DC Converters & Power Modules (Isolated/non-isolated, POL modules) (IMAGADAB)

akta.pro secondary industries

AC-DC Power Supplies (Industrial PSUs, DIN-rail, enclosed/open-frame) (IMAGADAA), Automotive Power Electronics & Inverters/Converters Manufacturing (IMACAJAE), Power Electronics Manufacturing (Inverters/DC-DC/Onboard Chargers) (IMACACAD)

Keywords

• Modular power components
• DC-DC converters
• AC-DC power systems
• Power conversion modules
• MIL-COTS power supplies

Headquarters

HQ city

Andover

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Product Revenue: Sales of modular power components including DC-DC converters, AC-DC converters, bus converters (BCM), current multipliers (VTM), ZVS regulators, and power systems for aerospace, defense, automotive, and data center applications. Q1 2026 product revenues reached $98 million, up 18% year-over-year.
2. IP Licensing and Royalties: Patent licensing agreements with OEMs and hyperscalers for power system technologies including Factorized Power and Vertical Power Delivery. Q1 2026 royalties reached $14.97 million, up 39% year-over-year. All-inclusive OEM license agreements operating at near-100% gross margin. Management targets licensing revenue potentially contributing $200-300 million in revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Vicor designs, manufactures, and markets high-density modular power components and complete power systems — including DC-DC converters (DCM), bus converters (BCM), regulators (PRM), current multipliers (VTM), AC-DC front ends, MIL-COTS power supplies, and EMI/ripple filters — built around proprietary Factorized Power Architecture, Vertical Power Delivery, and ChiP packaging technologies for 48V power delivery in AI/HPC, automotive, aerospace/defense, and industrial applications. The company also licenses its power-system patent portfolio to OEMs and hyperscalers.

Product overview

Vicor Corporation is a modular power component and systems company offering high-density power conversion solutions. The product portfolio centers on proprietary DC-DC converter modules including the DCM (Direct Current Module), BCM (Bus Converter Module), PRM (Power Regulator Module), and VTM (Voltage Transformation Module) families. These modules are building blocks that customers combine using Factorized Power Architecture (FPA) and Vertical Power Delivery (VPD) approaches to create complete power systems. Supporting products include AC-DC front-end modules (PFM, AIM, ARM, FARM, HAM, TPM), EMI and ripple filters (QPI, FIAM, RAM, MicroRAM, QPO), and MIL-COTS military-grade variants. Vicor also offers complete power systems (custom commercial and aerospace/defense configurations), design tools (Power System Designer, Power System Configurator, Whiteboard, Simulators, Calculators), and has developed the ReVolt mobile power platform. The company serves AI/HPC data centers, automotive (including 48V EV architectures), aerospace and defense, industrial, robotics, satellite/space, and UAV markets. The 48V power ecosystem is a key differentiator, enabling efficient power delivery from high voltage to point of load for AI processors and electric vehicles.

Differentiator

Problem solved

Functional benefit

Products and services

• DCM (Direct Current Module) Family
• BCM (Bus Converter Module) Family
• PRM (Power Regulator Module)
• VTM (Voltage Transformation Module) / Current Multiplier
• ZVS Buck Regulators
• ZVS Buck-Boost Regulators
• PI31xx Isolated DC-DC ZVS Converters
• NBM (Narrow Bus Module)
• BCM4414 High-Voltage Bus Converter
• BCM6135 Automotive Bus Converter
• DCM3717 and DCM3735 High-Voltage to SELV Converters
• VI-200 and VI-J00 DC-DC Converters
• Maxi, Mini, Micro DC-DC Converters
• BatMod (Current Source Module)
• AC-DC Front-End and Input Modules (PFM, AIM, ARM, ENMods, FARM, HAM, TPM, VI Brick PFM)
• MIL-COTS DCM, MIL-COTS PRM/VTM, and MIL-COTS BCM (High-Voltage Bus Converter)
• MIL-COTS VIPAC Power System
• VITA 62 Power Supply
• SOSA-Aligned Power Supply
• Badger, Javelin, LoPAC MI, MI-MegaMod, and MegaPAC MI MIL-COTS Power Systems
• EMI and Ripple Filter Modules (QPI, FIAM, RAM, MicroRAM, QPO)
• AI1 Transponder
• Vicor Power Systems — Custom Commercial
• Vicor Power Systems — Custom Aerospace and Defense
• Factorized Power Architecture (FPA)
• Vertical Power Delivery (VPD)
• IP Licensing of Power System Patent Portfolio

Quantifiable outcome

• Backlog increased 75% year-over-year to $301 million with book-to-bill above 2.0
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered core and minor.

• SpacechipscoreStrategic or Co-development Partner · 10 December 2025Vicor partnered with Spacechips to design the AI1 transponder, a radiation-tolerant, high-performance processor card for in-orbit AI processing in satellites. Vicor's Factorized Power Architecture power modules enable up to 133 TOPS performance in a compact, rugged form factor supporting five to 10 year space missions.
• ReVoltcoreStrategic or Co-development PartnerReVolt developed mobile power platforms (WeVolt, Mule) using Vicor BCM4414 and DCM3414 converters to replace diesel generators on film sets. Vicor modules enable 800V to 48V conversion with high power density (770W/in3) in portable, silent systems delivering clean mobile energy.
• BetterfrostminorStrategic or Co-development PartnerBetterfrost utilizes Vicor 48V power modules for pulse power defrosting technology that clears automobile windshields in under 60 seconds, demonstrating 48V innovation for automotive thermal management applications.

Scale indicators10 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Monolithic Power Systems: Fabless designer of highly integrated power management ICs and modules for computing, automotive, industrial, and consumer applications. Comparable to Vicor as a focused power conversion specialist serving overlapping end markets including AI/HPC and automotive, with overlapping DC-DC and point-of-load product lines.
• SynQor: Privately held designer and manufacturer of high-efficiency DC-DC converters, AC-DC power supplies, and military-grade power systems. Closely comparable to Vicor in product portfolio (isolated DC-DC modules, military COTS, VPX systems) and target markets (defense, aerospace, industrial, rail).
• Advanced Energy Industries: Designs and manufactures precision power conversion, measurement, and control solutions for semiconductor manufacturing, data center, and industrial customers. Comparable to Vicor in high-precision power technology and overlapping AI/data center exposure.
• Flex Power Modules (Flex Ltd.): Business unit of Flex Ltd. producing isolated DC-DC converters, bus converters, and digital point-of-load modules for telecom, data center, and industrial applications. Directly comparable to Vicor's DCM, BCM, and PRM/VTM product families and similar target markets.
• Cosel: Japanese manufacturer of AC-DC and DC-DC power supplies, including industrial, medical, and low-power semiconductor test applications. Overlaps with Vicor in industrial and high-density AC-DC/DC-DC converter categories.
• RECOM Power: European manufacturer of DC-DC converters, AC-DC power supplies, and switching regulators for industrial, transportation, and renewable energy markets. Comparable to Vicor's lower-power DC-DC and AC-DC converter offerings with overlapping industrial customer base.

Broad incumbents

• TDK-Lambda (TDK Corporation): Subsidiary of TDK Corporation manufacturing AC-DC and DC-DC power supplies, programmable power, and EMI filters for industrial, medical, and test & measurement applications. Overlaps with Vicor's AC-DC front-end and industrial power system offerings at much broader scale.
• Delta Electronics: Global leader in power and thermal management solutions, including DC-DC converters, AC-DC power supplies, and EV power electronics. Comparable as a broad incumbent serving AI/HPC, telecom, automotive, and industrial markets with significant overlap on EV power conversion.
• Texas Instruments: Largest analog semiconductor company with broad power management IC, PMIC, and DC-DC converter portfolios serving industrial, automotive, and computing markets. Overlaps with Vicor at the point-of-load and PMIC level and competes on power density for AI/HPC applications.
• Infineon Technologies: Global semiconductor leader in power semiconductors, automotive power electronics, and industrial drives. Comparable as a broad incumbent with overlapping automotive (48V/EV power), industrial, and DC-DC product lines where Vicor's modules compete.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzVCA2sdZxxHOgbTs2FPQbw
• Facebookfacebook.com/Vicorpower
• LinkedInlinkedin.com/company/vicor-corporation
• Xx.com/VicorPower

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vicor