Vicor (VICR) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 23, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	VICOR CORPORATION
Entity Central Index Key	0000751978
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	VICR
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Transition Report	false
Document Quarterly Report	true
Securities Act File Number	0-18277
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2742817
Entity Address, Address Line One	25 Frontage Road
Entity Address, City or Town	Andover
Entity Address, Postal Zip Code	01810
City Area Code	978
Local Phone Number	470-2900
Security Exchange Name	NASDAQ
Entity Address, State or Province	MA
Title of 12(b) Security	Common Stock
Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,332,695
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,738,718

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 251,884	$ 242,219
Accounts receivable, net	54,857	52,631
Inventories	109,084	106,579
Other current assets	19,510	18,937
Total current assets	435,335	420,366
Long-term deferred tax assets, net	258	296
Long-term investment, net	2,600	2,530
Property, plant and equipment, net	156,689	157,689
Other assets	18,352	14,006
Total assets	613,234	594,887
Current liabilities:
Accounts payable	12,269	12,100
Accrued compensation and benefits	12,109	11,227
Accrued litigation	26,212	6,500
Accrued expenses	6,170	5,093
Short-term lease liabilities	1,757	1,864
Sales allowances	2,989	3,482
Income taxes payable	3,674	746
Short-term deferred revenue and customer prepayments	2,656	3,157
Total current liabilities	67,836	44,169
Long-term deferred revenue	300	1,020
Long-term income taxes payable	1,917	2,228
Long-term lease liabilities	5,724	6,364
Total liabilities	75,777	53,781
Commitments and contingencies (Note 10)
Vicor Corporation stockholders' equity:
Additional paid-in capital	396,175	383,832
Retained earnings	281,005	296,674
Accumulated other comprehensive loss	(1,583)	(1,273)
Treasury stock at cost: 11,634,806 shares in 2024 and 2023	(138,927)	(138,927)
Total Vicor Corporation stockholders' equity	537,239	540,869
Noncontrolling interest	218	237
Total equity	537,457	541,106
Total liabilities and equity	613,234	594,887
Class B Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	118	118
Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	$ 451	$ 445

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical)	Jun. 30, 2024 Vote $ / shares shares	Dec. 31, 2023 Vote $ / shares shares
Treasury stock, shares	11,634,806	11,634,806
Class B Common Stock [Member]
Common Stock, votes per share | Vote	10	10
Common Stock, par value | $ / shares	$ 0.01	$ 0.01
Common Stock, shares authorized	14,000,000	14,000,000
Common Stock, shares issued	11,738,718	11,743,218
Common Stock, shares outstanding	11,738,718	11,743,218
Common Stock [Member]
Common Stock, votes per share | Vote	1	1
Common Stock, par value | $ / shares	$ 0.01	$ 0.01
Common Stock, shares authorized	62,000,000	62,000,000
Common Stock, shares issued	44,924,229	44,142,595
Common Stock, shares outstanding	33,289,423	32,507,789

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net revenues		$ 85,854	$ 106,747	$ 169,726	$ 204,563
Cost of revenues		43,083	51,574	81,832	102,856
Gross margin		42,771	55,173	87,894	101,707
Operating expenses:
Selling, general and administrative		23,318	20,375	49,317	40,598
Research and development		16,939	16,935	34,978	32,804
Litigation-contingency expense		2,300	0	19,500	0
Total operating expenses		42,557	37,310	103,795	73,402
Income (loss) from operations		214	17,863	(15,901)	28,305
Other income (expense), net:
Total unrealized (losses) gains on available-for-sale securities, net		(22)	(40)	70	(31)
Less: portion of losses (gains) recognized in other comprehensive income		22	40	(70)	31
Net credit gains recognized in earnings		0	0	0	0
Other income (expense), net		2,807	1,776	5,531	3,726
Total other income (expense), net		2,807	1,776	5,531	3,726
Income (loss) before income taxes		3,021	19,639	(10,370)	32,031
Provision for income taxes		4,216	2,537	5,287	3,678
Consolidated net (loss) income		(1,195)	17,102	(15,657)	28,353
Less: Net income attributable to noncontrolling interest		1	1	12	8
Net (loss) income attributable to Vicor Corporation		$ (1,196)	$ 17,101	$ (15,669)	$ 28,345
Net (loss) income per common share attributable to Vicor Corporation:
Basic		$ (0.03)	$ 0.39	$ (0.35)	$ 0.64
Diluted		$ (0.03)	$ 0.38	$ (0.35)	$ 0.63
Shares used to compute net (loss) income per common share attributable to Vicor Corporation:
Basic	[1]	44,855	44,230	44,686	44,196
Diluted		44,855	44,906	44,686	44,907
[1] Denominator represents the weighted average number of shares of Common Stock and Class B Common Stock outstanding.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Consolidated net (loss) income		$ (1,195)	$ 17,102	$ (15,657)	$ 28,353
Foreign currency translation losses, net of tax	[1]	(185)	(175)	(411)	(190)
Unrealized (losses) gains on available-for-sale securities, net of tax	[1]	(22)	(40)	70	(31)
Other comprehensive loss		(207)	(215)	(341)	(221)
Consolidated comprehensive (loss) income		(1,402)	16,887	(15,998)	28,132
Less: Comprehensive loss attributable to noncontrolling interest		(13)	(12)	(19)	(6)
Comprehensive (loss) income attributable to Vicor Corporation		$ (1,389)	$ 16,899	$ (15,979)	$ 28,138
[1] The deferred tax assets associated with foreign currency translation losses and unrealized (losses) gains on available-for-sale securities are completely offset by a tax valuation allowance as of June 30, 2024 and 2023 . Therefore, there is no income tax benefit (provision) recognized for the three and six months ended June 30, 2024 and 2023 .

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Recognized income tax benefit (provision)	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities:
Consolidated net (loss) income	$ (15,657)	$ 28,353
Adjustments to reconcile consolidated net (loss) income to net cash provided by operating activities:
Depreciation and amortization	9,275	8,648
Stock-based compensation expense	7,211	5,829
Provision for doubtful accounts	0	43
Litigation-contingency expense	19,500	0
(Decrease) increase in long-term deferred revenue	(720)	1,616
Increase (decrease) in other assets	227	(103)
Deferred income taxes	11	(63)
(Decrease) increase in long-term income taxes payable	(311)	13
Change in current assets and liabilities, net	(1,388)	(15,183)
Net cash provided by operating activities	18,148	29,153
Investing activities:
Additions to property, plant and equipment and internal-use software	(13,411)	(18,627)
Net cash used for investing activities	(13,411)	(18,627)
Financing activities:
Proceeds from employee stock plans	5,138	2,722
Net cash provided by financing activities	5,138	2,722
Effect of foreign exchange rates on cash	(210)	(30)
Net increase in cash and cash equivalents	9,665	13,218
Cash and cash equivalents at beginning of period	242,219	190,611
Cash and cash equivalents at end of period	251,884	203,829
Supplemental disclosure:
Purchases of property, plant and equipment and internal-use software incurred but not yet paid	$ 2,133	$ 1,883

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Total Vicor Corporation Stockholders' Equity [Member]	Noncontrolling Interest [Member]	Class B Common Stock [Member] Common Stock [Member]
Beginning Balance at Dec. 31, 2022	$ 464,336	$ 441	$ 360,365	$ 243,079	$ (988)	$ (138,927)	$ 464,088	$ 248	$ 118
Issuance of Common Stock under employee stock plans	2,722	2	2,720				2,722
Stock-based compensation expense	5,829		5,829				5,829
Components of comprehensive (loss) income, net of tax:
Net (loss) income	28,353			28,345			28,345	8
Other comprehensive loss	(221)				(207)		(207)	(14)
Consolidated comprehensive (loss) income	28,132						28,138	(6)
Ending Balance at Jun. 30, 2023	501,019	443	368,914	271,424	(1,195)	(138,927)	500,777	242	118
Beginning Balance at Mar. 31, 2023	480,659	442	365,442	254,323	(993)	(138,927)	480,405	254	118
Issuance of Common Stock under employee stock plans	461	1	460				461
Stock-based compensation expense	3,012		3,012				3,012
Components of comprehensive (loss) income, net of tax:
Net (loss) income	17,102			17,101			17,101	1
Other comprehensive loss	(215)				(202)		(202)	(13)
Consolidated comprehensive (loss) income	16,887						16,899	(12)
Ending Balance at Jun. 30, 2023	501,019	443	368,914	271,424	(1,195)	(138,927)	500,777	242	118
Beginning Balance at Dec. 31, 2023	541,106	445	383,832	296,674	(1,273)	(138,927)	540,869	237	118
Issuance of Common Stock under employee stock plans	5,138	6	5,132				5,138
Stock-based compensation expense	7,211		7,211				7,211
Components of comprehensive (loss) income, net of tax:
Net (loss) income	(15,657)			(15,669)			(15,669)	12
Other comprehensive loss	(341)				(310)		(310)	(31)
Consolidated comprehensive (loss) income	(15,998)						(15,979)	(19)
Ending Balance at Jun. 30, 2024	537,457	451	396,175	281,005	(1,583)	(138,927)	537,239	218	118
Beginning Balance at Mar. 31, 2024	532,046	446	389,367	282,201	(1,390)	(138,927)	531,815	231	118
Issuance of Common Stock under employee stock plans	3,382	5	3,377				3,382
Stock-based compensation expense	3,431		3,431				3,431
Components of comprehensive (loss) income, net of tax:
Net (loss) income	(1,195)			(1,196)			(1,196)	1
Other comprehensive loss	(207)				(193)		(193)	(14)
Consolidated comprehensive (loss) income	(1,402)						(1,389)	(13)
Ending Balance at Jun. 30, 2024	$ 537,457	$ 451	$ 396,175	$ 281,005	$ (1,583)	$ (138,927)	$ 537,239	$ 218	$ 118

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,196)	$ 17,101	$ (15,669)	$ 28,345

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Vicor Corporation and its consolidated subsidiaries (collectively, the "Company") have been prepared in accordance with generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for any other interim period or the year ending December 31, 2024. The balance sheet at December 31, 2023 presented herein has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed by the Company with the SEC on February 28, 2024.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	2. Inventories Inventories were as follows (in thousands): June 30, 2024 December 31, 2023 Raw materials $ 83,240 $ 88,716 Work-in-process 16,051 10,525 Finished goods 9,793 7,338 $ 109,084 $ 106,579

Long-Term Investments

Long-Term Investments	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Long-Term Investments	3. Long-Term Investments As of June 30, 2024 and December 31, 2023 , the Company held one auction rate security with a par value of $ 3,000,000 and an estimated fair value of approximately $ 2,600,000 and $ 2,530,000 , respectively, purchased through and held in custody by a broker-dealer affiliate of Bank of America, N.A., that has experienced failed auctions (the “Failed Auction Security”) since February 2008. The Failed Auction Security held by the Company is Aaa/AA+ rated by major credit rating agencies, is collateralized by student loans, and is guaranteed by the U.S. Department of Education under the Federal Family Education Loan Program. Management is not aware of any reason to believe the issuer of the Failed Auction Security is presently at risk of default. Through June 30, 2024 , the Company has continued to receive interest payments on the Failed Auction Security in accordance with the terms of its indenture. Management believes the Company ultimately should be able to liquidate the Failed Auction Security without significant loss primarily due to the overall quality of the issue held and the collateral securing the substantial majority of the underlying obligation. However, current conditions in the auction rate securities market have led management to conclude the recovery period for the Failed Auction Security exceeds 12 months . As a result, the Company continued to classify the Failed Auction Security as long-term as of June 30, 2024. Details of our investments are as follows (in thousands): June 30, 2024 Cash and Cash Long-Term Equivalents Investment Measured at fair value: Available-for-sale securities: Money market funds $ 227,455 $ — Failed Auction Security — 2,600 Total 227,455 2,600 Other measurement basis: Cash on hand 24,429 — Total $ 251,884 $ 2,600 December 31, 2023 Cash and Cash Long-Term Equivalents Investment Measured at fair value: Available-for-sale securities: Money market funds $ 209,489 $ — Failed Auction Security — 2,530 Total 209,489 2,530 Other measurement basis: Cash on hand 32,730 — Total $ 242,219 $ 2,530 The following is a summary of the available-for-sale securities (in thousands): Gross Gross Estimated Unrealized Unrealized Fair June 30, 2024 Cost Gains Losses Value Failed Auction Security $ 3,000 — 400 $ 2,600 Gross Gross Estimated Unrealized Unrealized Fair December 31, 2023 Cost Gains Losses Value Failed Auction Security $ 3,000 — 470 $ 2,530 As of June 30, 2024 , the Failed Auction Security had been in an unrealized loss position for greater than 12 months. The amortized cost and estimated fair value of the available-for-sale securities on June 30, 2024, by type and contractual maturities, are shown below (in thousands): Estimated Cost Fair Value Failed Auction Security: Due in nineteen years $ 3,000 $ 2,600

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The Company accounts for certain financial assets at fair value, defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions market participants would use in pricing an asset or liability. A three-level hierarchy is used to show the extent and level of judgment used to estimate fair value measurements. Assets and liabilities measured at fair value on a recurring basis included the following as of June 30, 2024 (in thousands): Using Significant Quoted Prices Other Significant in Active Observable Unobservable Total Fair Markets Inputs Inputs Value as of (Level 1) (Level 2) (Level 3) June 30, 2024 Cash equivalents: Money market funds $ 227,455 $ — $ — $ 227,455 Long-term investment: Failed Auction Security — — 2,600 2,600 Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2023 (in thousands): Using Significant Quoted Prices Other Significant in Active Observable Unobservable Total Fair Markets Inputs Inputs Value as of (Level 1) (Level 2) (Level 3) December 31, 2023 Cash equivalents: Money market funds $ 209,489 $ — $ — $ 209,489 Long-term investment: Failed Auction Security — — 2,530 2,530 The change in the estimated fair value calculated for the investment valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Security) for the three months ended June 30, 2024 was as follows (in thousands): Balance at the beginning of the period $ 2,530 Gain included in Other comprehensive loss 70 Balance at the end of the period $ 2,600 Management utilized a probability weighted discounted cash flow model to determine the estimated fair value as of June 30, 2024 .

Revenues

Revenues	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	5. Revenues The following tables present the Company’s net revenues disaggregated by geography based on the location of the customer, by product line (in thousands): Three Months Ended June 30, 2024 Brick Products Advanced Products Total United States $ 25,431 $ 23,231 $ 48,662 Europe 6,559 3,431 9,990 Asia Pacific 7,220 19,602 26,822 All other 276 104 380 $ 39,486 $ 46,368 $ 85,854 Six Months Ended June 30, 2024 Brick Products Advanced Products Total United States $ 46,405 $ 50,417 $ 96,822 Europe 13,416 7,430 20,846 Asia Pacific 19,488 31,654 51,142 All other 769 147 916 $ 80,078 $ 89,648 $ 169,726 Three Months Ended June 30, 2023 Brick Products Advanced Products Total United States $ 18,229 $ 15,827 $ 34,056 Europe 6,955 6,034 12,989 Asia Pacific 13,127 45,619 58,746 All other 923 33 956 $ 39,234 $ 67,513 $ 106,747 Six Months Ended June 30, 2023 Brick Products Advanced Products Total United States $ 39,485 $ 29,537 $ 69,022 Europe 14,501 10,061 24,562 Asia Pacific 29,974 79,063 109,037 All other 1,799 143 1,942 $ 85,759 $ 118,804 $ 204,563 The following tables present the Company’s net revenues disaggregated by the category of revenue, by product line (in thousands): Three Months Ended June 30, 2024 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 20,238 $ 27,713 $ 47,951 Stocking distributors, net of sales allowances 19,158 8,369 27,527 Non-recurring engineering 90 655 745 Royalties — 9,271 9,271 Other — 360 360 $ 39,486 $ 46,368 $ 85,854 Six Months Ended June 30, 2024 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 41,048 $ 49,353 $ 90,401 Stocking distributors, net of sales allowances 38,565 18,001 56,566 Non-recurring engineering 465 4,123 4,588 Royalties — 17,451 17,451 Other — 720 720 $ 80,078 $ 89,648 $ 169,726 Three Months Ended June 30, 2023 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 24,435 $ 55,556 $ 79,991 Stocking distributors, net of sales allowances 14,338 6,345 20,683 Non-recurring engineering 461 2,796 3,257 Royalties — 2,456 2,456 Other — 360 360 $ 39,234 $ 67,513 $ 106,747 Six Months Ended June 30, 2023 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 54,921 $ 97,569 $ 152,490 Stocking distributors, net of sales allowances 30,075 11,397 41,472 Non-recurring engineering 763 4,924 5,687 Royalties — 4,476 4,476 Other — 438 438 $ 85,759 $ 118,804 $ 204,563 The following table presents the changes in certain contract liabilities (in thousands): June 30, 2024 December 31, 2023 Change Short-term deferred revenue and customer prepayments $ ( 2,656 ) $ ( 3,157 ) $ 501 Long-term deferred revenue ( 300 ) ( 1,020 ) 720 Sales allowances ( 2,989 ) ( 3,482 ) 493 The Company records deferred revenue, which represents a contract liability, when cash payments are received or due in advance of performance under a contract with a customer. The Company recognized revenue of approximately $ 360,000 and $ 720,000 for the three and six months ended June 30, 2024 , respectively, and $ 2,236,000 and $ 3,845,000 for the three and six months ended June 30, 2023 that was included in deferred revenue at the beginning of the respective period.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	6. Stock-Based Compensation The Company uses the Black-Scholes option pricing model to calculate the fair value of stock option awards, whether they possess time-based vesting provisions or performance-based vesting provisions, and awards granted under the Vicor Corporation 2017 Employee Stock Purchase Plan (“ESPP”), as of their grant date. Stock-based compensation expense was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Cost of revenues $ 744 $ 570 $ 1,498 $ 1,056 Selling, general and administrative 1,757 1,626 3,676 3,146 Research and development 930 816 2,037 1,627 Total stock-based compensation $ 3,431 $ 3,012 $ 7,211 $ 5,829 Compensation expense by type of award was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Stock options $ 3,167 $ 2,701 $ 6,633 $ 5,197 ESPP 264 311 578 632 Total stock-based compensation $ 3,431 $ 3,012 $ 7,211 $ 5,829

Rental Income

Rental Income	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Rental Income	7. Rental Income Income, net under the Company’s operating lease agreement, for its owned facility leased to a third party in California, was approximately $ 227,000 and $ 198,000 for the three month periods ended June 30, 2024 and 2023 , respectively, and $ 424,000 and $ 396,000 for the six month periods ended June 30, 2024 and 2023 , respectively. The initial term of the lease agreement expired on May 31, 2024 and was extended for an additional eighty-four (84) months, commencing June 1, 2024 and ending May 31, 2031.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The provision for income taxes is based on the estimated annual effective tax rate for the year, which includes estimated federal, state and foreign income taxes on the Company’s projected pre-tax income (loss). The provision for income taxes and the effective income tax rates were as follows (dollars in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Provision for income taxes $ 4,216 $ 2,537 $ 5,287 $ 3,678 Effective income tax rate 139.6 % 12.9 % ( 51.0 )% 11.5 % The effective tax rates differ from the statutory tax rates for the three and six months ended June 30, 2024 and 2023 primarily due to the Company’s full valuation allowance position against domestic deferred tax assets. The provision for income taxes for the three and six months ended June 30, 2024 and 2023 included estimated federal, state and foreign income taxes in jurisdictions in which the Company does not have sufficient tax attributes. The Company’s tax expense and the rate for the quarter continues to be negatively impacted by the capitalization of research and development expenses under Section 174 in the U.S., which given the Company’s close to breakeven performance, is having an outsized impact on the rate by effectively moving from a book loss to a taxable income position, which causes a significant tax expense. This is further compounded by the Company not getting a deferred tax benefit from temporary differences due to the full valuation allowance on domestic deferred tax assets. As of June 30, 2024 , the Company had a valuation allowance of approximately $ 52,291,000 against all net domestic deferred tax assets for which realization cannot be considered more likely than not at this time. Management assesses the need for the valuation allowance on a quarterly basis. In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and past financial performance. The Company faces uncertainties in forecasting its operating results due to supply and factory capacity constraints, certain process issues with the production of Advanced Products and the unpredictability in certain markets. This operating uncertainty also makes it difficult to predict the availability and utilization of tax benefits over the next several years. As a result, management has concluded, as of June 30, 2024, it is more likely than not the Company’s net domestic deferred tax assets will not be realized, and a full valuation allowance against all net domestic deferred tax assets is still warranted as of June 30, 2024. The valuation allowance against these deferred tax assets may require adjustment in the future based on changes in the mix of temporary differences, changes in tax laws, and operating performance. If the Company’s concerns about industry uncertainty and world events, supply and factory capacity constraints, and process issues with the production of Advanced Products are resolved, and the amount of tax benefits the Company is able to utilize to the point that the Company believes future taxable income can be more reliably forecasted, the Company may release all or a portion of the valuation allowance in the near-term. If and when the Company determines the valuation allowance should be released (i.e., reduced), the adjustment would result in a tax benefit reported in that period’s Condensed Consolidated Statements of Operations, the effect of which would be an increase in reported net income. The Company was informed in September 2021 by the Internal Revenue Service of their intention to examine the Company’s 2019 Federal income tax return. The IRS has closed examination of the 2019 tax year with no material adjustments. There are no other audits or examinations in process in any other jurisdiction.

Net (Loss) Income per Share

Net (Loss) Income per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net (Loss) Income per Share	9. Net (Loss) Income per Share The following table sets forth the computation of basic and diluted net (loss) income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net (loss) income attributable to Vicor Corporation $ ( 1,196 ) $ 17,101 $ ( 15,669 ) $ 28,345 Denominator: Denominator for basic net (loss) income per share-weighted 44,855 44,230 44,686 44,196 Effect of dilutive securities: Employee stock options (2) — 676 — 711 Denominator for diluted net (loss) income per share – adjusted 44,855 44,906 44,686 44,907 Basic net (loss) income per share $ ( 0.03 ) $ 0.39 $ ( 0.35 ) $ 0.64 Diluted net (loss) income per share $ ( 0.03 ) $ 0.38 $ ( 0.35 ) $ 0.63 (1) Denominator represents the weighted average number of shares of Common Stock and Class B Common Stock outstanding. (2) Options to purchase 3,083,375 shares of Common Stock for the three and six months ended June 30, 2024 were not included in the calculation of net loss per share as the effect would have been antidilutive. Options to purchase 1,574,000 and 1,307,000 shares of Common Stock for the three and six months ended June 30, 2023 , respectively, were not included in the calculation of net income per share as the effect would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies At June 30, 2024 , the Company had approximately $ 14,986,000 of cancelable and non-cancelable capital expenditure commitments, principally for manufacturing equipment. As previously reported in its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, the Company is the defendant in a patent infringement lawsuit originally filed on January 28, 2011 by SynQor, Inc. (“SynQor”) in the U.S. District Court for the Eastern District of Texas (the “District Court”). SynQor alleged that certain Vicor products infringed certain United States Patents owned by SynQor. On October 26, 2022, after a trial in the District Court, the jury returned a verdict finding that the Company willfully infringed one SynQor patent, and awarding SynQor damages in the amount of $ 6,500,000 . On May 20, 2024, the District Court issued an Amended Corrected Final Judgment, awarding SynQor actual damages of $ 6,500,000 , enhanced damages of $ 4,500,000 , costs in the amount of approximately $ 87,000 , attorney fees in the amount of $ 9,500,000 , and pre-judgment interest of approximately $ 5,400,000 , for a total judgment of approximately $ 26,000,000 . In addition, the Court ordered that post-judgment interest would accrue at an amount of $ 2,323 per day starting on April 24, 2024 until the judgment is paid, compounded annually, and that additional post-judgment interest in the amount of $ 1,351 per day would accrue starting on May 20, 2024 until the judgment is paid, compounded annually. On May 22, 2024, the Company filed an appeal of the District Court’s judgment to the United States Court of Appeals for the Federal Circuit. That appeal remains pending. In accordance with applicable accounting standards, the Company recorded a litigation related accrual of $ 6,500,000 in the third quarter of 2022 and incremental litigation related accruals of $ 17,200,000 in the first quarter of 2024 and $ 2,300,000 in the second quarter of 2024 when the Amended Corrected Final Judgment was issued, for a total of $ 26,000,000 , as its estimate based on the awarded judgments, including enhanced damages, pre-judgment interest, costs and attorney fees. The final determination of the litigation related accrual amount will be subject to appeal and could differ from the recorded liability. Consistent with the court order, post-judgment interest will accrue on the pre-judgment amount until paid and the Company has recorded post judgment interest of approximately $ 212,000 in the second quarter of 2024 within the Selling, general and administrative expenses on the Statement of Operations and the associated Accrued litigation account. On July 11, 2024, purported stockholders of the Company filed a putative class action lawsuit in the U.S. District Court for the Northern District of California against the Company and the Company’s Chief Executive Officer, President and Chairman. On July 25, 2024, a purported stockholder of the Company filed a putative class action lawsuit in the U.S. District Court for the District of Massachusetts against the Company; the Company’s Chief Executive Officer, President and Chairman; the Company’s Chief Financial Officer, Treasurer, Secretary and Director; and the Company’s Vice President of Global Sales and Marketing and Director. The plaintiffs allege violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), due to allegedly false and misleading statements during earnings calls in 2023 about the Company’s commercial relationship with an existing customer. The complaints seek damages, interest and attorneys’ fees and costs. The plaintiffs are in the process of serving their complaints, and no substantive proceedings have taken place. The Company believes the plaintiffs’ claims are without merit and intends to vigorously defend against the lawsuits. In addition, the Company is involved in certain other litigation and claims incidental to the conduct of its business, both as a defendant and a plaintiff. While the outcome of such other lawsuits and claims against the Company cannot be predicted with certainty, management does not expect such litigation or claims will have a material adverse impact on the Company’s financial position or results of operations.

Impact of Recently Issued Accou

Impact of Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Impact of Recently Issued Accounting Standards	11. Impact of Recently Issued Accounting Standards On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances segment disclosures and requires additional disclosures of segment expenses. This ASU is effective for annual periods in fiscal years beginning after December 15, 2023, and interim periods thereafter. Early adoption is permitted. The Company expects this ASU to impact disclosures with no impact to the Company’s consolidated financial statements. In December 2023, FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. For PBEs, the new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all period presented. The Company expects this ASU to impact disclosures with no impact to the Company’s consolidated financial statements. Other new pronouncements issued but not effective until after June 30, 2024 are not expected to have a material impact on the Company’s consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Event In November 2000, the Company’s Board of Directors authorized the repurchase of up to $ 30,000,000 of the Company’s Common Stock (the “November 2000 Plan”). The November 2000 Plan authorized the Company to make such repurchases from time to time in the open market or through privately negotiated transactions. As of June 30, 2024, the Company had approximately $ 8,541,000 remaining available for repurchases of the Company’s Common Stock under the November 2000 Plan. In July 2024, the Company’s Board of Directors authorized the repurchase of up to $ 100,000,000 of the Company’s Common Stock (the “New Repurchase Authorization”), which replaces, in its entirety, the November 2000 Plan. No further repurchases will be made pursuant to the November 2000 Plan. The timing and amounts of Common Stock repurchases pursuant to the New Repurchase Authorization are at the discretion of the Company’s President and Chief Executive Officer based upon economic and financial market conditions. The New Repurchase Authorization does not expire.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories were as follows (in thousands): June 30, 2024 December 31, 2023 Raw materials $ 83,240 $ 88,716 Work-in-process 16,051 10,525 Finished goods 9,793 7,338 $ 109,084 $ 106,579

Long-Term Investments (Tables)

Long-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investment	Details of our investments are as follows (in thousands): June 30, 2024 Cash and Cash Long-Term Equivalents Investment Measured at fair value: Available-for-sale securities: Money market funds $ 227,455 $ — Failed Auction Security — 2,600 Total 227,455 2,600 Other measurement basis: Cash on hand 24,429 — Total $ 251,884 $ 2,600 December 31, 2023 Cash and Cash Long-Term Equivalents Investment Measured at fair value: Available-for-sale securities: Money market funds $ 209,489 $ — Failed Auction Security — 2,530 Total 209,489 2,530 Other measurement basis: Cash on hand 32,730 — Total $ 242,219 $ 2,530
Summary of Available-for-Sale Securities	The following is a summary of the available-for-sale securities (in thousands): Gross Gross Estimated Unrealized Unrealized Fair June 30, 2024 Cost Gains Losses Value Failed Auction Security $ 3,000 — 400 $ 2,600 Gross Gross Estimated Unrealized Unrealized Fair December 31, 2023 Cost Gains Losses Value Failed Auction Security $ 3,000 — 470 $ 2,530
Cost and Estimated Fair Value of Failed Auction Security by Contractual Maturities	The amortized cost and estimated fair value of the available-for-sale securities on June 30, 2024, by type and contractual maturities, are shown below (in thousands): Estimated Cost Fair Value Failed Auction Security: Due in nineteen years $ 3,000 $ 2,600

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis included the following as of June 30, 2024 (in thousands): Using Significant Quoted Prices Other Significant in Active Observable Unobservable Total Fair Markets Inputs Inputs Value as of (Level 1) (Level 2) (Level 3) June 30, 2024 Cash equivalents: Money market funds $ 227,455 $ — $ — $ 227,455 Long-term investment: Failed Auction Security — — 2,600 2,600 Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2023 (in thousands): Using Significant Quoted Prices Other Significant in Active Observable Unobservable Total Fair Markets Inputs Inputs Value as of (Level 1) (Level 2) (Level 3) December 31, 2023 Cash equivalents: Money market funds $ 209,489 $ — $ — $ 209,489 Long-term investment: Failed Auction Security — — 2,530 2,530
Change in Estimated Fair Values Calculated for Investment Valued on Recurring Basis Utilizing Level 3 Inputs	The change in the estimated fair value calculated for the investment valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Security) for the three months ended June 30, 2024 was as follows (in thousands): Balance at the beginning of the period $ 2,530 Gain included in Other comprehensive loss 70 Balance at the end of the period $ 2,600

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Net Revenues Based On Geography Location	The following tables present the Company’s net revenues disaggregated by geography based on the location of the customer, by product line (in thousands): Three Months Ended June 30, 2024 Brick Products Advanced Products Total United States $ 25,431 $ 23,231 $ 48,662 Europe 6,559 3,431 9,990 Asia Pacific 7,220 19,602 26,822 All other 276 104 380 $ 39,486 $ 46,368 $ 85,854 Six Months Ended June 30, 2024 Brick Products Advanced Products Total United States $ 46,405 $ 50,417 $ 96,822 Europe 13,416 7,430 20,846 Asia Pacific 19,488 31,654 51,142 All other 769 147 916 $ 80,078 $ 89,648 $ 169,726 Three Months Ended June 30, 2023 Brick Products Advanced Products Total United States $ 18,229 $ 15,827 $ 34,056 Europe 6,955 6,034 12,989 Asia Pacific 13,127 45,619 58,746 All other 923 33 956 $ 39,234 $ 67,513 $ 106,747 Six Months Ended June 30, 2023 Brick Products Advanced Products Total United States $ 39,485 $ 29,537 $ 69,022 Europe 14,501 10,061 24,562 Asia Pacific 29,974 79,063 109,037 All other 1,799 143 1,942 $ 85,759 $ 118,804 $ 204,563
Summary of Net Revenues Disaggregated by Geography	The following tables present the Company’s net revenues disaggregated by the category of revenue, by product line (in thousands): Three Months Ended June 30, 2024 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 20,238 $ 27,713 $ 47,951 Stocking distributors, net of sales allowances 19,158 8,369 27,527 Non-recurring engineering 90 655 745 Royalties — 9,271 9,271 Other — 360 360 $ 39,486 $ 46,368 $ 85,854 Six Months Ended June 30, 2024 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 41,048 $ 49,353 $ 90,401 Stocking distributors, net of sales allowances 38,565 18,001 56,566 Non-recurring engineering 465 4,123 4,588 Royalties — 17,451 17,451 Other — 720 720 $ 80,078 $ 89,648 $ 169,726 Three Months Ended June 30, 2023 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 24,435 $ 55,556 $ 79,991 Stocking distributors, net of sales allowances 14,338 6,345 20,683 Non-recurring engineering 461 2,796 3,257 Royalties — 2,456 2,456 Other — 360 360 $ 39,234 $ 67,513 $ 106,747 Six Months Ended June 30, 2023 Brick Products Advanced Products Total Direct customers, contract manufacturers and $ 54,921 $ 97,569 $ 152,490 Stocking distributors, net of sales allowances 30,075 11,397 41,472 Non-recurring engineering 763 4,924 5,687 Royalties — 4,476 4,476 Other — 438 438 $ 85,759 $ 118,804 $ 204,563
Summary of Changes in Contract Liabilities	The following table presents the changes in certain contract liabilities (in thousands): June 30, 2024 December 31, 2023 Change Short-term deferred revenue and customer prepayments $ ( 2,656 ) $ ( 3,157 ) $ 501 Long-term deferred revenue ( 300 ) ( 1,020 ) 720 Sales allowances ( 2,989 ) ( 3,482 ) 493

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	Stock-based compensation expense was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Cost of revenues $ 744 $ 570 $ 1,498 $ 1,056 Selling, general and administrative 1,757 1,626 3,676 3,146 Research and development 930 816 2,037 1,627 Total stock-based compensation $ 3,431 $ 3,012 $ 7,211 $ 5,829
Summary of Compensation Expenses by Type of Award	Compensation expense by type of award was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Stock options $ 3,167 $ 2,701 $ 6,633 $ 5,197 ESPP 264 311 578 632 Total stock-based compensation $ 3,431 $ 3,012 $ 7,211 $ 5,829

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Provision for Income Taxes and Effective Income Tax Rates	The provision for income taxes and the effective income tax rates were as follows (dollars in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Provision for income taxes $ 4,216 $ 2,537 $ 5,287 $ 3,678 Effective income tax rate 139.6 % 12.9 % ( 51.0 )% 11.5 %

Net (Loss) Income per Share (Ta

Net (Loss) Income per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net (Loss) Income Per Share	The following table sets forth the computation of basic and diluted net (loss) income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net (loss) income attributable to Vicor Corporation $ ( 1,196 ) $ 17,101 $ ( 15,669 ) $ 28,345 Denominator: Denominator for basic net (loss) income per share-weighted 44,855 44,230 44,686 44,196 Effect of dilutive securities: Employee stock options (2) — 676 — 711 Denominator for diluted net (loss) income per share – adjusted 44,855 44,906 44,686 44,907 Basic net (loss) income per share $ ( 0.03 ) $ 0.39 $ ( 0.35 ) $ 0.64 Diluted net (loss) income per share $ ( 0.03 ) $ 0.38 $ ( 0.35 ) $ 0.63 (1) Denominator represents the weighted average number of shares of Common Stock and Class B Common Stock outstanding. (2) Options to purchase 3,083,375 shares of Common Stock for the three and six months ended June 30, 2024 were not included in the calculation of net loss per share as the effect would have been antidilutive. Options to purchase 1,574,000 and 1,307,000 shares of Common Stock for the three and six months ended June 30, 2023 , respectively, were not included in the calculation of net income per share as the effect would have been antidilutive.

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 83,240	$ 88,716
Work-in-process	16,051	10,525
Finished goods	9,793	7,338
Net balance	$ 109,084	$ 106,579

Long-Term Investments - Additio

Long-Term Investments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Unrealized Losses On Short Term And Long Term Investments [Line Items]
Minimum period for which failed auction securities been in unrealized loss position	12 months
Failed Auction Security [Member]
Unrealized Losses On Short Term And Long Term Investments [Line Items]
Amortized cost of securities	$ 3,000,000	$ 3,000,000
Period for which failed auction securities been in unrealized loss position	exceeds 12 months
Estimated Fair Value	$ 2,600,000	$ 2,530,000

Long-Term Investments - Summary

Long-Term Investments - Summary of Investment (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	$ 251,884	$ 242,219
Other Long-term Investment [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	2,600	2,530
Estimate of Fair Value Measurement [Member] | Cash and Cash Equivalents [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	227,455	209,489
Estimate of Fair Value Measurement [Member] | Other Long-term Investment [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	2,600	2,530
Estimate of Fair Value Measurement [Member] | Auction Rate Securities [Member] | Other Long-term Investment [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	2,600	2,530
Estimate of Fair Value Measurement [Member] | Money Market Funds [Member] | Cash and Cash Equivalents [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	227,455	209,489
Portion at Other than Fair Value Measurement [Member] | Cash on hand [Member] | Cash and Cash Equivalents [Member]
Debt Securities, Available-for-Sale [Line Items]
Estimated Fair Value	$ 24,429	$ 32,730

Long-Term Investments - Summa_2

Long-Term Investments - Summary of Available-for-Sale Securities (Detail) - Failed Auction Security [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Cost	$ 3,000,000	$ 3,000,000
Gross Unrealized Losses	400,000	470,000
Estimated Fair Value	$ 2,600,000	$ 2,530,000

Long-Term Investments - Amortiz

Long-Term Investments - Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities (Detail) - Failed Auction Security [Member] $ in Thousands	Jun. 30, 2024 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Due in twenty to forty years, Cost	$ 3,000
Due in twenty to forty years, Estimated Fair Value	$ 2,600

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Failed Auction Security [Member] | Other Long-Term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	$ 2,600	$ 2,530
Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	227,455	209,489
Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	227,455	209,489
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Failed Auction Security [Member] | Other Long-Term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	$ 2,600	$ 2,530

Fair Value Measurements - Chang

Fair Value Measurements - Change in Estimated Fair Values Calculated for Investment Valued on Recurring Basis Utilizing Level 3 Inputs (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value Disclosures [Abstract]
Balance at the beginning of the period	$ 2,530
Gain included in Other comprehensive loss	$ 70
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax
Balance at the end of the period	$ 2,600

Revenues - Summary of Net Reven

Revenues - Summary of Net Revenues Disaggregated by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 85,854	$ 106,747	$ 169,726	$ 204,563
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	39,486	39,234	80,078	85,759
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	46,368	67,513	89,648	118,804
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	48,662	34,056	96,822	69,022
United States [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	25,431	18,229	46,405	39,485
United States [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	23,231	15,827	50,417	29,537
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	9,990	12,989	20,846	24,562
Europe [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	6,559	6,955	13,416	14,501
Europe [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,431	6,034	7,430	10,061
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue	26,822	58,746	51,142	109,037
Asia Pacific [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,220	13,127	19,488	29,974
Asia Pacific [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	19,602	45,619	31,654	79,063
All Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	380	956	916	1,942
All Other [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	276	923	769	1,799
All Other [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 104	$ 33	$ 147	$ 143

Revenues - Summary of Net Rev_2

Revenues - Summary of Net Revenues Disaggregated by Category (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 85,854	$ 106,747	$ 169,726	$ 204,563
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	39,486	39,234	80,078	85,759
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	46,368	67,513	89,648	118,804
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member]
Disaggregation of Revenue [Line Items]
Revenue	47,951	79,991	90,401	152,490
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	20,238	24,435	41,048	54,921
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	27,713	55,556	49,353	97,569
Stocking distributors, net of sales allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue	27,527	20,683	56,566	41,472
Stocking distributors, net of sales allowances [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	19,158	14,338	38,565	30,075
Stocking distributors, net of sales allowances [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,369	6,345	18,001	11,397
Non-recurring engineering [Member]
Disaggregation of Revenue [Line Items]
Revenue	745	3,257	4,588	5,687
Non-recurring engineering [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	90	461	465	763
Non-recurring engineering [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	655	2,796	4,123	4,924
Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue	9,271	2,456	17,451	4,476
Royalties [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Royalties [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	9,271	2,456	17,451	4,476
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	360	360	720	438
Other [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 360	$ 360	$ 720	$ 438

Revenues - Summary of Changes i

Revenues - Summary of Changes in Certain Contract Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Short-term deferred revenue and customer prepayments	$ (2,656)	$ (3,157)
Long-term deferred revenue	(300)	(1,020)
Sales allowances	(2,989)	$ (3,482)
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Short-term deferred revenue and customer prepayments	501
Long-term deferred revenue	720
Sales allowances	$ 493

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred Revenue, Revenue Recognized	$ 360,000	$ 2,236,000	$ 720,000	$ 3,845,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 3,431	$ 3,012	$ 7,211	$ 5,829
Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	744	570	1,498	1,056
Selling, General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	1,757	1,626	3,676	3,146
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 930	$ 816	$ 2,037	$ 1,627

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Compensation Expense by Type of Award (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 3,431	$ 3,012	$ 7,211	$ 5,829
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	3,167	2,701	6,633	5,197
ESPP [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 264	$ 311	$ 578	$ 632

Rental Income - Additional info

Rental Income - Additional information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Lease income	$ 227,000	$ 198,000	$ 424,000	$ 396,000
Lease agreement expiration date			May 31, 2024
Option to extend			The initial term of the lease agreement expired on May 31, 2024 and was extended for an additional eighty-four (84) months, commencing June 1, 2024 and ending May 31, 2031.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	Jun. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
Valuation allowance, deferred tax assets	$ 52,291,000

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes and Effective Income Tax Rates (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 4,216	$ 2,537	$ 5,287	$ 3,678
Effective income tax rate	139.60%	12.90%	(51.00%)	11.50%

Net (Loss) Income per Share - S

Net (Loss) Income per Share - Summary of Computation Of Basic And Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net (loss) income attributable to Vicor Corporation		$ (1,196)	$ 17,101	$ (15,669)	$ 28,345
Denominator:
Denominator for basic net (loss) income per share-weighted average shares	[1]	44,855	44,230	44,686	44,196
Effect of dilutive securities:
Employee stock options	[2]		676		711
Denominator for diluted net (loss) income per share - adjusted weighted-average shares and assumed conversions		44,855	44,906	44,686	44,907
Basic net (loss) income per share		$ (0.03)	$ 0.39	$ (0.35)	$ 0.64
Diluted net (loss) income per share		$ (0.03)	$ 0.38	$ (0.35)	$ 0.63
[1] Denominator represents the weighted average number of shares of Common Stock and Class B Common Stock outstanding. Options to purchase 3,083,375 shares of Common Stock for the three and six months ended June 30, 2024 were not included in the calculation of net loss per share as the effect would have been antidilutive. Options to purchase 1,574,000 and 1,307,000 shares of Common Stock for the three and six months ended June 30, 2023 , respectively, were not included in the calculation of net income per share as the effect would have been antidilutive.

Net (Loss) Income per Share -_2

Net (Loss) Income per Share - Summary of Computation Of Basic And Diluted Net Income (Loss) Per Share (Parenthetical) (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Options to purchase shares of Common Stock not included in the computation of diluted income (loss) per share	3,083,375	1,574,000	3,083,375	1,307,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)		3 Months Ended			6 Months Ended	24 Months Ended
	May 20, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2022	Jun. 30, 2024	Jun. 30, 2024	Apr. 24, 2024
Loss Contingencies [Line Items]
Capital expenditure commitments		$ 14,986,000			$ 14,986,000	$ 14,986,000
Litigation related accrual amount		2,300,000,000	$ 17,200,000,000	$ 6,500,000,000		$ 26,000,000,000
Selling, General and Administrative [Member]
Loss Contingencies [Line Items]
Litigation related accrual amount		$ 212,000,000
Infringement of SynQor Patent [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Awarded, Value					$ 6,500,000,000
Increase in loss contingency damages awarded value	$ 4,500,000,000
Post-judgment interest accrue	1,351,000						$ 2,323,000
Awarded cost amount	87,000,000
Loss Contingency, Damages Sought, Value	26,000,000,000
Litigation related accrual amount	5,400,000,000
Loss Contingency Accrual, Provision	$ 9,500,000,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024	Nov. 30, 2000
Subsequent Event [Line Items]
Common Stock repurchased as per November plan			$ 30,000,000
Stock repurchase program amount available	$ 8,541,000
Stock repurchase	0
Subsequent Event [Member] | New Repurchase Authorization [Member]
Subsequent Event [Line Items]
Common Stock repurchased as per November plan		$ 100,000,000