Vicor (VICR) 10-Q 31 Jul 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 23, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	VICOR CORP
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 Quarterly Report	true
Document Transition Report	false
Entity 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		28,519,626
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,758,218

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 71,482	$ 70,557
Accounts receivable, less allowance of $102 in 2019 and $224 in 2018	38,537	43,673
Inventories, net	54,572	47,370
Other current assets	5,054	3,460
Total current assets	169,645	165,060
Long-term deferred tax assets, net	241	265
Long-term investments, net	2,565	2,526
Property, plant and equipment, net	55,285	50,432
Other assets	2,867	2,785
Total assets	230,603	221,068
Current liabilities:
Accounts payable	10,819	16,149
Accrued compensation and benefits	11,144	10,657
Accrued expenses	2,228	2,631
Operating lease liabilities	1,660
Sales allowances	640	548
Accrued severance and other charges		234
Income taxes payable	85	710
Deferred revenue	6,581	5,069
Total current liabilities	33,157	35,998
Long-term deferred revenue	196	232
Contingent consideration obligations	306	408
Long-term income taxes payable	236	238
Long-term operating lease liabilities	2,392	102
Total liabilities	36,287	36,978
Commitments and contingencies (Note 12)
Vicor Corporation stockholders' equity:
Additional paid-in capital	196,698	193,457
Retained earnings	135,849	129,000
Accumulated other comprehensive loss	(278)	(394)
Treasury stock, at cost	(138,927)	(138,927)
Total Vicor Corporation stockholders' equity	193,863	183,656
Noncontrolling interest	453	434
Total equity	194,316	184,090
Total liabilities and equity	230,603	221,068
Class B Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	118	118
Total equity	118	118
Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	$ 403	$ 402

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts receivable, allowance	$ 102	$ 224

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net revenues		$ 63,355	$ 74,196	$ 129,080	$ 139,465
Cost of revenues		34,238	38,313	68,877	73,371
Gross margin		29,117	35,883	60,203	66,094
Operating expenses:
Selling, general and administrative		15,030	15,814	30,403	31,213
Research and development		11,706	11,403	22,926	22,529
Severance and other charges			350		350
Total operating expenses		26,736	27,567	53,329	54,092
Income from operations		2,381	8,316	6,874	12,002
Other income (expense), net:
Total unrealized gains on available-for-sale securities, net		19	33	39	56
Less: portion of gains recognized in other comprehensive income		(18)	(31)	(37)	(52)
Net credit gains recognized in earnings		1	2	2	4
Other income (expense), net		287	(46)	525	382
Total other income (expense), net		288	(44)	527	386
Income before income taxes		2,669	8,272	7,401	12,388
Less: Provision for income taxes		113	363	539	497
Consolidated net income		2,556	7,909	6,862	11,891
Less: Net (loss) income attributable to noncontrolling interest		(7)	49	13	88
Net income attributable to Vicor Corporation		$ 2,563	$ 7,860	$ 6,849	$ 11,803
Net income per common share attributable to Vicor Corporation:
Basic		$ 0.06	$ 0.20	$ 0.17	$ 0.30
Diluted		$ 0.06	$ 0.19	$ 0.17	$ 0.29
Shares used to compute net income per common share attributable to Vicor Corporation:
Basic	[1]	40,275	39,709	40,252	39,594
Diluted		41,081	40,646	41,055	40,406
[1]	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Consolidated net income		$ 2,556	$ 7,909	$ 6,862	$ 11,891
Foreign currency translation gains (losses) , net of tax	[1]	151	(215)	85	27
Unrealized gains on available-for-sale securities, net of tax	[1]	18	31	37	52
Other comprehensive income (loss)		169	(184)	122	79
Consolidated comprehensive income		2,725	7,725	6,984	11,970
Less: Comprehensive income attributable to noncontrolling interest		4	32	19	90
Comprehensive income attributable to Vicor Corporation		$ 2,721	$ 7,693	$ 6,965	$ 11,880
[1]	The deferred tax assets associated with cumulative foreign currency translation gains and cumulative unrealized gains on available-for-sale securities are completely offset by a tax valuation allowance as of June 30, 2019 and 2018. Therefore, there is no income tax benefit (provision) recognized for the three and six months ended June 30, 2019 and 2018.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities:
Consolidated net income	$ 6,862	$ 11,891
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	4,998	4,539
Stock-based compensation expense, net	1,539	1,916
(Benefit) provision for doubtful accounts	(117)	65
Decrease in long-term income taxes payable	(2)
Increase in other long-term liabilities		5
Decrease in long-term deferred revenue	(36)	(36)
Gain on disposal of equipment	(22)	(16)
Deferred income taxes	24	25
Credit gain on available-for-sale securities	(2)	(4)
Change in current assets and liabilities, net	(8,005)	(9,857)
Net cash provided by operating activities	5,239	8,528
Investing activities:
Additions to property, plant and equipment	(5,864)	(3,558)
Proceeds from sale of equipment	22	16
Decrease in other assets	(137)	(67)
Net cash used for investing activities	(5,979)	(3,609)
Financing activities:
Proceeds from issuance of Common Stock	1,707	4,966
Payment of contingent consideration obligations	(102)	(172)
Net cash provided by financing activities	1,605	4,794
Effect of foreign exchange rates on cash	60	(23)
Net increase in cash and cash equivalents	925	9,690
Cash and cash equivalents at beginning of period	70,557	44,230
Cash and cash equivalents at end of period	$ 71,482	$ 53,920

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total Vicor Corporation Stockholders' Equity [Member]	Noncontrolling Interest [Member]	Class B Common Stock [Member]
Beginning Balance at Dec. 31, 2017	$ 136,419	$ 401	$ 181,395	$ 93,605	$ (478)	$ (138,927)	$ 136,114	$ 305	$ 118
Sales of Common Stock	4,039	3	4,036				4,039
Stock-based compensation expense	1,916		1,916				1,916
Issuances of stock through employee stock purchase plan	927	1	926				927
Cumulative effect of adoption of new accounting principle (Topic 606)	3,670			3,670			3,670
Other	(3)	(6)	3				(3)
Components of comprehensive income, net of tax
Net income	11,891			11,803			11,803	88
Other comprehensive income (loss)	79				77		77	2
Total comprehensive income	11,970						11,880	90
Ending Balance at Jun. 30, 2018	158,938	399	188,276	109,078	(401)	(138,927)	158,543	395	118
Beginning Balance at Mar. 31, 2018	146,355	402	183,415	101,218	(234)	(138,927)	145,992	363	118
Sales of Common Stock	3,681	3	3,678				3,681
Stock-based compensation expense	1,180		1,180				1,180
Other	(3)	(6)	3				(3)
Components of comprehensive income, net of tax
Net income	7,909			7,860			7,860	49
Other comprehensive income (loss)	(184)				(167)		(167)	(17)
Total comprehensive income	7,725						7,693	32
Ending Balance at Jun. 30, 2018	158,938	399	188,276	109,078	(401)	(138,927)	158,543	395	118
Beginning Balance at Dec. 31, 2018	184,090	402	193,457	129,000	(394)	(138,927)	183,656	434	118
Sales of Common Stock	428		428				428
Stock-based compensation expense	1,539		1,539				1,539
Issuances of stock through employee stock purchase plan	1,279	1	1,278				1,279
Other	(4)		(4)				(4)
Components of comprehensive income, net of tax
Net income	6,862			6,849			6,849	13
Other comprehensive income (loss)	122				116		116	6
Total comprehensive income	6,984						6,965	19
Ending Balance at Jun. 30, 2019	194,316	403	196,698	135,849	(278)	(138,927)	193,863	453	118
Beginning Balance at Mar. 31, 2019	190,692	403	195,799	133,286	(436)	(138,927)	190,243	449	118
Sales of Common Stock	137		137				137
Stock-based compensation expense	766		766				766
Other	(4)		(4)				(4)
Components of comprehensive income, net of tax
Net income	2,556			2,563			2,563	(7)
Other comprehensive income (loss)	169				158		158	11
Total comprehensive income	2,725						2,721	4
Ending Balance at Jun. 30, 2019	$ 194,316	$ 403	$ 196,698	$ 135,849	$ (278)	$ (138,927)	$ 193,863	$ 453	$ 118

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
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. 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, 2019 are not necessarily indicative of the results that may be expected for any other interim period or the year ending December 31, 2019. The balance sheet at December 31, 2018 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 10-K”).

Recently Adopted Accounting Sta

Recently Adopted Accounting Standard	6 Months Ended
	Jun. 30, 2019
Text Block [Abstract]
Recently Adopted Accounting Standard	2. Recently Adopted Accounting Standard In February 2016, the FASB issued new guidance for lease accounting, which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements. The new guidance establishes a right-of-use The Company adopted the new standard as of January 1, 2019, using the effective date as the date of initial application. As a result, financial information has not been updated and the disclosures required under the new standard have not been provided for dates and periods before January 1, 2019. The Company elected the ‘package of practical expedients’, which permits companies to not reassess under the new standard lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight The adoption of the standard resulted in the recognition of ROU assets and lease liabilities of approximately $4,329,000 and $4,455,000, respectively, as of January 1, 2019. There was no cumulative effect of adopting this new guidance, and the standard did not have a material impact on the Company’s consolidated statements of operations or cash flows for the three and six months ended June 30, 2019.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	3. Inventories Inventories are valued at the lower of cost (determined using the first-in, first-out The Company provides reserves for inventories estimated to be excess, obsolete or unmarketable. The Company’s estimation process for assessing net realizable value is based upon its known backlog, projected future demand, historical consumption and expected market conditions. If the Company’s estimated demand and/or market expectation were to change or if product sales were to decline, the Company’s estimation process may cause larger inventory reserves to be recorded, resulting in larger charges to cost of revenues. Inventories were as follows (in thousands): June 30, 2019 December 31, 2018 Raw materials $ 36,925 $ 37,696 Work-in-process 6,052 4,740 Finished goods 11,595 4,934 Net balance $ 54,572 $ 47,370

Long-Term Investments

Long-Term Investments	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Long-Term Investments	4. Long-Term Investments As of June 30, 2019 and December 31, 2018, the Company held one auction rate security with a par value of $3,000,000, 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, 2019, 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, 2019. The following is a summary of available-for-sale June 30, 2019 Cost Gross Gross Estimated Failed Auction Security $ 3,000 $ — $ 435 $ 2,565 December 31, 2018 Cost Gross Gross Estimated Failed Auction Security $ 3,000 $ — $ 474 $ 2,526 As of June 30, 2019, the Failed Auction Security had been in an unrealized loss position for greater than 12 months. The cost and estimated fair value of the Failed Auction Security on June 30, 2019, by contractual maturity, are shown below (in thousands): Cost Estimated Due in twenty to forty years $ 3,000 $ 2,565 Based on the fair value measurements described in Note 5, the fair value of the Failed Auction Security on June 30, 2019, with a par value of $3,000,000, was estimated by the Company to be approximately $2,565,000. The gross unrealized loss of $435,000 on the Failed Auction Security consists of two types of estimated loss: an aggregate credit loss of $39,000 and an aggregate temporary impairment of $396,000. In determining the amount of credit loss, the Company compared the present value of cash flows expected to be collected to the amortized cost basis of the security, considering credit default risk probabilities and changes in credit ratings as significant inputs, among other factors (See Note 5). The following table represents a rollforward of the activity related to the credit loss recognized in earnings on the Failed Auction Security for the six months ended June 30 (in thousands): 2019 2018 Balance at the beginning of the period $ 41 $ 48 Reductions in the amount related to credit gain for which other-than-temporary impairment was not previously recognized (2 ) (4 ) Balance at the end of the period $ 39 $ 44 At this time, the Company has no intent to sell the impaired Failed Auction Security and does not believe it is more likely than not the Company will be required to sell this security. If current market conditions deteriorate further, the Company may be required to record additional unrealized losses. If the credit rating of the security deteriorates, the Company may be required to adjust the carrying value of the investment through impairment charges recorded in the Condensed Consolidated Statements of Operations, and any such impairment adjustments may be material. Based on the Company’s ability to access cash and cash equivalents and its expected operating cash flows, management does not anticipate the current lack of liquidity associated with the Failed Auction Security held will affect the Company’s ability to execute its current operating plan.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. 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, 2019 (in thousands): Using Quoted Prices Significant Significant Total Fair Cash equivalents: Money market funds $ 9,538 $ — $ — $ 9,538 Long-term investments: Failed Auction Security — — 2,565 2,565 Liabilities: Contingent consideration obligations — — (306 ) (306 ) Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2018 (in thousands): Using Quoted Prices Significant Significant Total Fair Value as of Cash equivalents: Money market funds $ 9,433 $ — $ — $ 9,433 Long-term investments: Failed Auction Security — — 2,526 2,526 Liabilities: Contingent consideration obligations — — (408 ) (408 ) As of June 30, 2019, there was insufficient observable auction rate security market information available to determine the fair value of the Failed Auction Security using Level 1 or Level 2 inputs. As such, the Company’s investment in the Failed Auction Security was deemed to require valuation using Level 3 inputs. Management, after consulting with advisors, valued the Failed Auction Security using analyses and pricing models similar to those used by market participants (i.e., buyers, sellers, and the broker-dealers responsible for execution of the Dutch auction pricing mechanism by which each issue’s interest rate was set). Management utilized a probability weighted discounted cash flow (“DCF”) model to determine the estimated fair value of this security as of June 30, 2019. The major assumptions used in preparing the DCF model were similar to those described in Note 5 – Fair Value Measurements in the Notes to the Consolidated Financial Statements contained in the Company’s 2018 Form 10-K. Quantitative information about Level 3 fair value measurements as of June 30, 2019 is as follows (dollars in thousands): Fair Value Valuation Unobservable Input Weighted Failed Auction Security $ 2,565 Discounted cash flow Cumulative probability of earning the maximum rate until maturity 0.08 % Cumulative probability of principal return prior to maturity 94.34 % Cumulative probability of default 5.58 % Liquidity risk premium 5.00 % Recovery rate in default 40.00 % 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 six months ended June 30, 2019 was as follows (in thousands): Balance at the beginning of the period $ 2,526 Credit gain on available-for-sale 2 Gain included in Other comprehensive income 37 Balance at the end of the period $ 2,565 The Company has classified its contingent consideration obligations as Level 3 because the fair value for these liabilities was determined using unobservable inputs. The liabilities were based on estimated sales of legacy products over the period of royalty payments at the royalty rate, discounted using the Company’s estimated cost of capital. The change in the estimated fair value calculated for the liabilities valued on a recurring basis utilizing Level 3 inputs (i.e., the Contingent consideration obligations) for the six months ended June 30, 2019 was as follows (in thousands): Balance at the beginning of the period $ 408 Payments (102 ) Balance at the end of the period $ 306 There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the six months ended June 30, 2019.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	6. Revenues Revenue from the sale of Advanced Products represents the sum of third-party sales of the former Picor and VI Chip operating segments for periods prior to the second quarter of 2019. Revenue from the sale of Brick Products represents the sum of third-party revenues of the former Brick Business Unit operating segment, inclusive of such sales of our Vicor Custom Power and Vicor Japan Company, Ltd. subsidiaries. See Note 14 for a discussion of changes to the Company’s segment reporting. 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, 2019 Brick Products Advanced Products Total United States $ 25,732 5,323 $ 31,055 Europe 6,374 1,642 8,016 Asia Pacific 15,287 7,843 23,130 All other 612 542 1,154 $ 48,005 $ 15,350 $ 63,355 Six Months Ended June 30, 2019 Brick Products Advanced Products Total United States $ 48,024 12,272 $ 60,296 Europe 12,383 2,628 15,011 Asia Pacific 32,398 18,743 51,141 All other 1,825 807 2,632 $ 94,630 $ 34,450 $ 129,080 Three Months Ended June 30, 2018 Brick Products Advanced Products Total United States $ 18,295 8,124 $ 26,419 Europe 4,877 1,275 6,152 Asia Pacific 23,876 16,387 40,263 All other 1,301 61 1,362 $ 48,349 $ 25,847 $ 74,196 Six Months Ended June 30, 2018 Brick Products Advanced Products Total United States $ 35,286 16,756 $ 52,042 Europe 9,602 1,923 11,525 Asia Pacific 42,087 31,532 73,619 All other 2,011 268 2,279 $ 88,986 $ 50,479 $ 139,465 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, 2019 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 40,843 12,184 $ 53,027 Stocking distributors, net of sales allowances 7,111 2,918 10,029 Non-recurring 51 230 281 Royalties — — — Other — 18 18 $ 48,005 $ 15,350 $ 63,355 Six Months Ended June 30, 2019 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 80,791 26,950 $ 107,741 Stocking distributors, net of sales allowances 13,228 6,083 19,311 Non-recurring 599 1,355 1,954 Royalties 12 24 36 Other — 38 38 $ 94,630 $ 34,450 $ 129,080 Three Months Ended June 30, 2018 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 43,404 23,130 $ 66,534 Stocking distributors, net of sales allowances 4,735 2,208 6,943 Non-recurring engineering 197 465 662 Royalties 13 26 39 Other — 18 18 $ 48,349 $ 25,847 $ 74,196 Six Months Ended June 30, 2018 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 78,878 44,416 $ 123,294 Stocking distributors, net of sales allowances 9,698 5,151 14,849 Non-recurring engineering 372 800 1,172 Royalties 38 76 114 Other — 36 36 $ 88,986 $ 50,479 $ 139,465 The following table presents the changes in certain contract assets and (liabilities) (in thousands): June 30, 2019 December 31, 2018 Increase Accounts receivable $ 38,537 $ 43,673 $ (5,136 ) Deferred revenue (5,232 ) (3,820 ) (1,412 ) Deferred expenses 1,216 501 715 Customer prepayments (1,349 ) (1,250 ) (99 ) Sales allowances (640 ) (548 ) (92 ) The decrease in accounts receivable was primarily due to a decrease in net revenues in the second quarter of 2019 compared to the fourth quarter of 2018. Deferred expenses are included in Other current assets, and customer prepayments are included in Deferred revenue, in the accompanying Condensed Consolidated Balance Sheets, respectively.

Product Warranties

Product Warranties	6 Months Ended
	Jun. 30, 2019
Guarantees and Product Warranties [Abstract]
Product Warranties	7. Product Warranties The Company generally offers a two-year warranty for all of its products, though it has extended the warranty period to three years for certain military grade products sold after January 1, 2017. The Company is party to a limited number of supply agreements with certain customers contractually committing the Company to warranty and indemnification requirements exceeding those to which the Company has been exposed in the past. The Company provides for the estimated cost of product warranties at the time product revenue is recognized. Factors influencing the Company’s warranty reserves include the number of units sold, historical and anticipated rates of warranty returns, and the cost per return. The Company periodically assesses the adequacy of warranty reserves and adjusts the amounts as necessary. Warranty obligations are included in “Accrued expenses” in the accompanying Condensed Consolidated Balance Sheets. Product warranty activity was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Balance at the beginning of the period $ 231 $ 346 $ 268 $ 290 Accruals for warranties for products sold in the period 56 10 85 133 Fulfillment of warranty obligations (17 ) (20 ) (83 ) (77 ) Revisions of estimated obligations — (10 ) — (20 ) Balance at the end of the period $ 270 $ 326 $ 270 $ 326

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	8. 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 2019 2018 2019 2018 Cost of revenues $ 73 $ 59 $ 142 $ 115 Selling, general and administrative 506 957 1,025 1,499 Research and development 187 164 372 302 Total stock-based compensation $ 766 $ 1,180 $ 1,539 $ 1,916 Compensation expense by type of award was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Stock options $ 509 $ 1,005 $ 1,042 $ 1,598 ESPP 257 175 497 318 Total stock-based compensation $ 766 $ 1,180 $ 1,539 $ 1,916

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	9. Leases As of June 30, 2019, the balance of ROU assets was approximately $3,933,000, and the balances of current and long-term lease liabilities were approximately $1,660,000 and $2,392,000, respectively. For the three and six months ended June 30, 2019, the Company recorded operating lease cost, including short-term lease cost, of approximately $480,000 and $937,000, respectively. The ROU assets are included in “Property, plant and equipment, net” in the accompanying Condensed Consolidated Balance Sheets. The maturities of the Company’s lease liabilities are as follows (in thousands): 2019 $ 911 2020 1,461 2021 756 2022 453 2023 357 Thereafter 413 Total lease payments $ 4,351 Less: Imputed interest 299 Present value of lease liabilities $ 4,052 As of June 30, 2019, the weighted-average remaining lease term was 3.5 years and the weighted-average discount rate was 3.83% for the Company’s operating leases. The Company developed the discount rates used based on a London Interbank Offered Rate (“LIBOR”) over a term approximating the term of the related lease, plus an additional interest factor, which was generally 1.375%. For the three and six months ended June 30, 2019, the Company paid approximately $42,000 and $63,000, respectively, for amounts included in the measurement of lease liabilities through operating cash flows, and obtained approximately $56,000 and $462,000 in ROU assets for the three and six months ended June 30, 2019, respectively, in exchange for new operating lease liabilities. The maturities of the lease payments to be received by the Company under its leased facility in California are as follows (in thousands): 2019 $ 429 2020 874 2021 901 2022 928 2023 955 Thereafter 402 Total lease payments to be received $ 4,489 For the three and six months ended June 30, 2019, the Company recorded lease income under this lease of approximately $214,000 and $428,000, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The tax provision 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 The provision for income taxes and the effective income tax rates were as follows (dollars in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Provision for income taxes $ 113 $ 363 $ 539 $ 497 Effective income tax rate 4.2 % 4.4 % 7.3 % 4.0 % The effective tax rates were lower than the statutory tax rates for the three and six months ended June 30, 2019 and 2018 due primarily to the utilization of net operating loss carryforwards and tax credits. The provisions for income taxes in the three and six months ended June 30, 2019 and 2018 also included estimated foreign income taxes and estimated state taxes in jurisdictions in which the Company does not have net operating loss carryforwards. As of June 30, 2019, the Company has a valuation allowance of approximately $30,031,000 against all domestic net 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. While recent positive operating results caused the Company to be in a cumulative income position as of June 30, 2019, it has been in such a position for only a limited number of quarters. In addition, some uncertainty in economic conditions that could potentially impact the Company has led management to conclude a full valuation allowance against all domestic net deferred tax assets is still warranted as of June 30, 2019. 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 positive quarterly earnings continue, the Company may release all or a portion of the valuation 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 Consolidated Statements of Operations, the effect of which would be an increase in reported net income.

Net Income per Share

Net Income per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Income per Share	11. Net Income per Share The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended 2019 2018 2019 2018 Numerator: Net income attributable to Vicor Corporation $ 2,563 $ 7,860 $ 6,849 $ 11,803 Denominator: Denominator for basic net income per share-weighted 40,275 39,709 40,252 39,594 Effect of dilutive securities: Employee stock options (2) 806 937 803 812 Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions 41,081 40,646 41,055 40,406 Basic net income per share $ 0.06 $ 0.20 $ 0.17 $ 0.30 Diluted net income per share $ 0.06 $ 0.19 $ 0.17 $ 0.29 (1) Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding. (2) Options to purchase 142,817 and 128,018 shares of Common Stock for the three and six months ended June 30, 2019, respectively, and 44,793 and 79,857 shares of Common Stock for the three and six months ended June 30, 2018, 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, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies At June 30, 2019, the Company had approximately $3,367,000 of capital expenditure commitments. 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 “Texas Action”). The complaint, as amended in September 2011, alleges that the Company’s products, including but not limited to, unregulated bus converters used in intermediate bus architecture power supply systems, infringe SynQor’s U.S. patent numbers 7,072,190, 7,272,021, 7,564,702, and 8,023,290 (“the ‘190 patent”, “the ‘021 patent”, “the ‘702 patent”, and “the ‘290 patent”, respectively). SynQor’s complaint sought an injunction against further infringement and an award of unspecified compensatory and enhanced damages, interest, costs and attorney fees. The Company has denied that its products infringe any of the SynQor patents, asserted that the SynQor patents are invalid, and asserted that the ‘290 patent is unenforceable due to inequitable conduct by SynQor or its agents during the examination of the ‘290 patent at the United States Patent and Trademark Office (“USPTO”). The Company also asserted counterclaims seeking damages against SynQor for deceptive trade practices and tortious interference with prospective economic advantage arising from SynQor’s attempted enforcement of its patents against the Company. On May 23, 2016, after extensive discovery, the Texas Action was stayed by the court pending completion of certain inter partes reexamination proceedings at the USPTO (including any appeals from such proceedings to the Federal Circuit (as defined below)) concerning the SynQor patents, which are described below. On November 2, 2018, SynQor filed a motion to lift the stay of the Texas Action. On January 3, 2019, the magistrate judge issued an order denying the motion and reaffirming the Court’s original decision that the stay should remain at least until the conclusion of all pending inter partes reexaminations and related appeals. On January 17, 2019, SynQor filed objections to the magistrate judge’s order, and sought reconsideration of that order by the district court judge. The district court judge has not yet ruled on SynQor’s objections. In 2011, in response to the filing of the Texas Action, the Company initiated inter partes reexamination proceedings at the USPTO challenging the validity of certain claims of the SynQor patents asserted in the Texas Action, including all claims that were asserted against the Company by SynQor. The current status of these proceedings is as follows. Regarding the ‘190 patent, the United States Court of Appeals for the Federal Circuit (the “Federal Circuit”) issued a decision on March 13, 2015, determining that certain claims were invalid and remanding the matter to the Patent Trial and Appeal Board (“PTAB”) of the USPTO for further proceedings. On May 2, 2016, the PTAB issued a decision affirming the examiner’s original rejection of all but one of the remaining claims of the ‘190 patent, and identifying a new basis for rejecting the remaining claim (“claim 34”), which had been added by SynQor during the reexamination. SynQor then requested further examination of claim 34 by the examiner, pursuant to 37 C.F.R. § 41.77(b)(1). On June 22, 2017, the examiner issued a determination under 37 C.F.R. § 41.77(d), finding claim 34 was unpatentable. That decision was affirmed by the PTAB on February 20, 2019. SynQor subsequently appealed that decision to the Federal Circuit and that appeal is currently pending. On May 2, 2016, the PTAB also issued decisions finding all challenged claims of SynQor’s ‘021 patent invalid and upholding the validity of all challenged claims of SynQor’s ‘702 and ‘290 patents. On August 30, 2017, the Federal Circuit issued rulings with regard to those decisions. With respect to the ‘021 patent, the Federal Circuit affirmed the PTAB’s determination that all of the challenged claims of the ‘021 patent were invalid. The Federal Circuit remanded the case to the PTAB for further consideration of the patentability of certain claims that had been added by amendment during the reexamination. On February 20, 2019, the PTAB issued a decision affirming the examiner’s rejections of all challenged claims. With respect to the ‘702 patent, the Federal Circuit affirmed the PTAB’s determination that all of the challenged claims of the ‘702 patent were patentable. With respect to the ‘290 patent, the Federal Circuit vacated the PTAB’s decision upholding the patentability of the ‘290 patent claims, and remanded the case to the PTAB for further consideration. On February 20, 2019, the PTAB issued a decision reversing its prior affirmance of the examiner’s non-adoption of rejections with respect to the ‘290 patent, and entering rejections of all of the claims of the ‘290 patent. On May 20, 2019, as permitted by USPTO rules, SynQor requested the USPTO to reopen prosecution of this proceeding to address the new rejections made by the PTAB. On October 31, 2017, the Company filed a request with the USPTO for ex parte reexamination of the asserted claims of the ‘702 patent, based on different prior art references than had been at issue in the previous inter partes reexamination of the ‘702 patent. On December 6, 2017, the USPTO issued a decision initiating ex parte reexamination of the ‘702 patent after finding that the Company’s request had raised a substantial new question of patentability of the challenged claims. On March 21, 2018, the examiner issued a non-final office action finding all of the challenged claims of the ‘702 patent to be unpatentable. On May 14, 2018, SynQor filed a petition requesting the USPTO to vacate its prior decision granting the Company’s request for ex parte reexamination. No action has been taken on the petition to date. On September 12, 2018, the examiner issued a final office action finding all of the challenged claims of the ‘702 patent to be unpatentable. On October 26, 2018, SynQor filed a notice of appeal appealing the examiner’s final rejection to the PTAB. On December 3, 2018, the USPTO denied SynQor’s petition to vacate the decision initiating the ex parte reexamination. On January 25, 2019, SynQor appealed the examiner’s final rejection to the PTAB. That appeal is pending. The Company continues to monitor the progress of this proceeding. On August 6, 2018, the Company filed a request with the USPTO for ex parte reexamination of the asserted claims of the ‘190 patent, based on different prior art references than had been at issue in the previous inter partes reexamination of the ‘190 patent. On September 11, 2018, SynQor filed a petition asking the USPTO to reject the Company’s request on the ground that it presented substantially the same prior art or arguments presented to the USPTO in the prior inter partes reexamination of the ‘190 patent. On December 3, 2018, the USPTO denied SynQor’s petition to reject the Company’s ex parte reexamination request. On December 4, 2018, the USPTO instituted ex parte reexamination of the ‘190 patent after finding that the Company’s request had raised a substantial new question affecting the patentability of the challenged claims. On March 15, 2019, the USPTO issued a non-final rejection of all of the asserted claims of the ‘190 patent. On January 23, 2018, the 20-year terms of the ‘190 patent, the ‘021 patent and the ‘702 patent expired. The 20-year term of the ‘290 patent expired on July 16, 2018. As a consequence of these expirations, the Company cannot be liable under any of the SynQor patents for allegedly infringing activities occurring after the patents’ respective expiration dates. In addition, any amended claims that may issue as a result of any of the still-pending reexamination proceedings will have no effective term and cannot be the basis for any liability by the Company. The Company continues to believe none of its products, including its unregulated bus converters, infringe any valid claim of the asserted SynQor patents, either alone or when used in an intermediate bus architecture implementation. The Company believes SynQor’s claims lack merit and, therefore, it continues to vigorously defend itself against SynQor’s patent infringement allegations. The Company does not believe a loss is probable for this matter. If a loss were to be incurred, however, the Company cannot estimate the amount of possible loss or range of possible loss at this time. In addition to the SynQor matter, the Company is involved in certain other litigation and claims incidental to the conduct of its business. While the outcome of lawsuits and claims against the Company cannot be predicted with certainty, management does not expect any current litigation or claims will have a material adverse impact on the Company’s financial position or results of operations.

VI Chip Merger

VI Chip Merger	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
VI Chip Merger	13. VI Chip Merger On June 28, 2019, the Company’s Board of Directors unanimously approved the merger of VI Chip Corporation (“VI Chip”), a subsidiary of Vicor, fully consolidated for financial reporting purposes, with and into the Company. The merger was completed as of June 28, 2019, at which time the separate corporate existence of VI Chip ceased. To effect the merger, holders of VI Chip Common Stock and VI Chip stock options received an equivalent value of Vicor Common Stock and Vicor stock options, respectively, pursuant to the assumption of the VI Chip Corporation Amended and Restated 2007 Stock Option and Incentive Plan, and options outstanding thereunder, by the Company. There was no net impact on the Company’s consolidated financial statements for the three and six months ended June 30, 2019 as a result of the merger.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	14. Segment Information In the second quarter of 2019, management determined the Company would report as one segment, rather than under the three segment approach employed since 2007. Given the growth profiles of the markets the Company serves with Advanced Products and Brick Products, the Company’s strategy has evolved with a transition in organizational focus, emphasizing investment in Advanced Products, targeting high growth market segments with a low-mix, high-volume operational model, while maintaining a profitable business in mature market segments we serve with Brick Products with a high-mix, low-volume operational model. The Company’s Board of Directors and Dr. Vinciarelli, the Chief Operating Decision Maker (“CODM”), authorized the mergers of our VI Chip and Picor Corporation (“Picor”) subsidiaries, based on the development and evolution of the aforementioned strategy. Dr. Vinciarelli and management began to make incremental changes in management practices and organizational structure based on a management plan established in 2018 for the definitive reconfiguration of the three business units into one business focused on the Advanced Products and Brick Products product line categorizations, including three significant changes: the merger of Picor with and into Vicor, which was completed on May 30, 2018; the reconfiguration of the Company’s internal reporting systems, which was completed on December 31, 2018; and the merger of VI Chip with and into Vicor, which, as stated, was completed on June 28, 2019. Our CODM now determines the allocation of resources of the Company based upon the two product line groupings, which constitute one segment. Both product lines are built in the Company’s manufacturing facility in Andover, Massachusetts employing similar processing and production techniques, and are supported by the same sales and marketing organizations. As such, the Company has conformed the segment reporting to the new reporting structure utilized by the CODM. Accordingly, three-segment information for prior periods has not been presented, to conform with the new presentation.

Impact of Recently Issued Accou

Impact of Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Impact of Recently Issued Accounting Standards	15. Impact of Recently Issued Accounting Standards In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance which modifies the disclosure requirements on fair value measurements under Topic 820, Fair Value Measurements, . In June 2016, the FASB issued new guidance which will require measurement and recognition of expected credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale Other new pronouncements issued but not effective until after June 30, 2019 are not expected to have a material impact on the Company’s consolidated financial statements.

Recently Adopted Accounting S_2

Recently Adopted Accounting Standard (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Recently Adopted Accounting Standard	2. Recently Adopted Accounting Standard In February 2016, the FASB issued new guidance for lease accounting, which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements. The new guidance establishes a right-of-use The Company adopted the new standard as of January 1, 2019, using the effective date as the date of initial application. As a result, financial information has not been updated and the disclosures required under the new standard have not been provided for dates and periods before January 1, 2019. The Company elected the ‘package of practical expedients’, which permits companies to not reassess under the new standard lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight The adoption of the standard resulted in the recognition of ROU assets and lease liabilities of approximately $4,329,000 and $4,455,000, respectively, as of January 1, 2019. There was no cumulative effect of adopting this new guidance, and the standard did not have a material impact on the Company’s consolidated statements of operations or cash flows for the three and six months ended June 30, 2019.
Impact of recently issued accounting standards	15. Impact of Recently Issued Accounting Standards In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance which modifies the disclosure requirements on fair value measurements under Topic 820, Fair Value Measurements, . In June 2016, the FASB issued new guidance which will require measurement and recognition of expected credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale Other new pronouncements issued but not effective until after June 30, 2019 are not expected to have a material impact on the Company’s consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories were as follows (in thousands): June 30, 2019 December 31, 2018 Raw materials $ 36,925 $ 37,696 Work-in-process 6,052 4,740 Finished goods 11,595 4,934 Net balance $ 54,572 $ 47,370

Long-Term Investments (Tables)

Long-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Available-for-Sale Securities	The following is a summary of available-for-sale June 30, 2019 Cost Gross Gross Estimated Failed Auction Security $ 3,000 $ — $ 435 $ 2,565 December 31, 2018 Cost Gross Gross Estimated Failed Auction Security $ 3,000 $ — $ 474 $ 2,526
Cost and Estimated Fair Value of Failed Auction Security by Contractual Maturities	The cost and estimated fair value of the Failed Auction Security on June 30, 2019, by contractual maturity, are shown below (in thousands): Cost Estimated Due in twenty to forty years $ 3,000 $ 2,565
Rollforward of Credit (Gain) Loss Recognized in Earnings on Failed Auction Security	The following table represents a rollforward of the activity related to the credit loss recognized in earnings on the Failed Auction Security for the six months ended June 30 (in thousands): 2019 2018 Balance at the beginning of the period $ 41 $ 48 Reductions in the amount related to credit gain for which other-than-temporary impairment was not previously recognized (2 ) (4 ) Balance at the end of the period $ 39 $ 44

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 (in thousands): Using Quoted Prices Significant Significant Total Fair Cash equivalents: Money market funds $ 9,538 $ — $ — $ 9,538 Long-term investments: Failed Auction Security — — 2,565 2,565 Liabilities: Contingent consideration obligations — — (306 ) (306 ) Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2018 (in thousands): Using Quoted Prices Significant Significant Total Fair Value as of Cash equivalents: Money market funds $ 9,433 $ — $ — $ 9,433 Long-term investments: Failed Auction Security — — 2,526 2,526 Liabilities: Contingent consideration obligations — — (408 ) (408 )
Quantitative Information about Level 3 Fair Value Measurements	Quantitative information about Level 3 fair value measurements as of June 30, 2019 is as follows (dollars in thousands): Fair Value Valuation Unobservable Input Weighted Failed Auction Security $ 2,565 Discounted cash flow Cumulative probability of earning the maximum rate until maturity 0.08 % Cumulative probability of principal return prior to maturity 94.34 % Cumulative probability of default 5.58 % Liquidity risk premium 5.00 % Recovery rate in default 40.00 %
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 six months ended June 30, 2019 was as follows (in thousands): Balance at the beginning of the period $ 2,526 Credit gain on available-for-sale 2 Gain included in Other comprehensive income 37 Balance at the end of the period $ 2,565
Change in Estimated Fair Value Calculated for Liabilities Valued on Recurring Basis Utilizing Level 3 Inputs	The change in the estimated fair value calculated for the liabilities valued on a recurring basis utilizing Level 3 inputs (i.e., the Contingent consideration obligations) for the six months ended June 30, 2019 was as follows (in thousands): Balance at the beginning of the period $ 408 Payments (102 ) Balance at the end of the period $ 306

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Summary of Net Revenues Disaggregated by Geography	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, 2019 Brick Products Advanced Products Total United States $ 25,732 5,323 $ 31,055 Europe 6,374 1,642 8,016 Asia Pacific 15,287 7,843 23,130 All other 612 542 1,154 $ 48,005 $ 15,350 $ 63,355 Six Months Ended June 30, 2019 Brick Products Advanced Products Total United States $ 48,024 12,272 $ 60,296 Europe 12,383 2,628 15,011 Asia Pacific 32,398 18,743 51,141 All other 1,825 807 2,632 $ 94,630 $ 34,450 $ 129,080 Three Months Ended June 30, 2018 Brick Products Advanced Products Total United States $ 18,295 8,124 $ 26,419 Europe 4,877 1,275 6,152 Asia Pacific 23,876 16,387 40,263 All other 1,301 61 1,362 $ 48,349 $ 25,847 $ 74,196 Six Months Ended June 30, 2018 Brick Products Advanced Products Total United States $ 35,286 16,756 $ 52,042 Europe 9,602 1,923 11,525 Asia Pacific 42,087 31,532 73,619 All other 2,011 268 2,279 $ 88,986 $ 50,479 $ 139,465 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, 2019 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 40,843 12,184 $ 53,027 Stocking distributors, net of sales allowances 7,111 2,918 10,029 Non-recurring 51 230 281 Royalties — — — Other — 18 18 $ 48,005 $ 15,350 $ 63,355 Six Months Ended June 30, 2019 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 80,791 26,950 $ 107,741 Stocking distributors, net of sales allowances 13,228 6,083 19,311 Non-recurring 599 1,355 1,954 Royalties 12 24 36 Other — 38 38 $ 94,630 $ 34,450 $ 129,080 Three Months Ended June 30, 2018 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 43,404 23,130 $ 66,534 Stocking distributors, net of sales allowances 4,735 2,208 6,943 Non-recurring engineering 197 465 662 Royalties 13 26 39 Other — 18 18 $ 48,349 $ 25,847 $ 74,196 Six Months Ended June 30, 2018 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 78,878 44,416 $ 123,294 Stocking distributors, net of sales allowances 9,698 5,151 14,849 Non-recurring engineering 372 800 1,172 Royalties 38 76 114 Other — 36 36 $ 88,986 $ 50,479 $ 139,465
Accounting Standards Update 2014-09 [Member]
Summary of Net Revenues Disaggregated by Geography	The following table presents the changes in certain contract assets and (liabilities) (in thousands): June 30, 2019 December 31, 2018 Increase Accounts receivable $ 38,537 $ 43,673 $ (5,136 ) Deferred revenue (5,232 ) (3,820 ) (1,412 ) Deferred expenses 1,216 501 715 Customer prepayments (1,349 ) (1,250 ) (99 ) Sales allowances (640 ) (548 ) (92 )

Product Warranties (Tables)

Product Warranties (Tables)	6 Months Ended
	Jun. 30, 2019
Guarantees and Product Warranties [Abstract]
Product Warranty Activity	Product warranty activity was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Balance at the beginning of the period $ 231 $ 346 $ 268 $ 290 Accruals for warranties for products sold in the period 56 10 85 133 Fulfillment of warranty obligations (17 ) (20 ) (83 ) (77 ) Revisions of estimated obligations — (10 ) — (20 ) Balance at the end of the period $ 270 $ 326 $ 270 $ 326

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Stock-Based Compensation Expense	Stock-based compensation expense was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Cost of revenues $ 73 $ 59 $ 142 $ 115 Selling, general and administrative 506 957 1,025 1,499 Research and development 187 164 372 302 Total stock-based compensation $ 766 $ 1,180 $ 1,539 $ 1,916
Summary of Compensation Expense by Type of Award	Compensation expense by type of award was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Stock options $ 509 $ 1,005 $ 1,042 $ 1,598 ESPP 257 175 497 318 Total stock-based compensation $ 766 $ 1,180 $ 1,539 $ 1,916

Lease (Table)

Lease (Table)	6 Months Ended
	Jun. 30, 2019
Leases, Operating [Abstract]
Maturities of Lease Liabilities	The maturities of the Company’s lease liabilities are as follows (in thousands): 2019 $ 911 2020 1,461 2021 756 2022 453 2023 357 Thereafter 413 Total lease payments $ 4,351 Less: Imputed interest 299 Present value of lease liabilities $ 4,052
Maturities of Lease Payments	The maturities of the lease payments to be received by the Company under its leased facility in California are as follows (in thousands): 2019 $ 429 2020 874 2021 901 2022 928 2023 955 Thereafter 402 Total lease payments to be received $ 4,489

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 Provision for income taxes $ 113 $ 363 $ 539 $ 497 Effective income tax rate 4.2 % 4.4 % 7.3 % 4.0 %

Net Income per Share (Tables)

Net Income per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended 2019 2018 2019 2018 Numerator: Net income attributable to Vicor Corporation $ 2,563 $ 7,860 $ 6,849 $ 11,803 Denominator: Denominator for basic net income per share-weighted 40,275 39,709 40,252 39,594 Effect of dilutive securities: Employee stock options (2) 806 937 803 812 Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions 41,081 40,646 41,055 40,406 Basic net income per share $ 0.06 $ 0.20 $ 0.17 $ 0.30 Diluted net income per share $ 0.06 $ 0.19 $ 0.17 $ 0.29 (1) Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding. (2) Options to purchase 142,817 and 128,018 shares of Common Stock for the three and six months ended June 30, 2019, respectively, and 44,793 and 79,857 shares of Common Stock for the three and six months ended June 30, 2018, respectively, were not included in the calculation of net income per share as the effect would have been antidilutive.

Recently Adopted Accounting S_3

Recently Adopted Accounting Standard - Additional Information (Detail) - USD ($)	Jun. 30, 2019	Jan. 01, 2019
Operating leases right of use assets	$ 3,933,000	$ 4,329,000
Operating Lease, Liability	$ 4,052,000	$ 4,455,000

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 36,925	$ 37,696
Work-in-process	6,052	4,740
Finished goods	11,595	4,934
Net balance	$ 54,572	$ 47,370

Long-Term Investments - Additio

Long-Term Investments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
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	$ 2,565,000	2,526,000
Gross Unrealized Losses	435,000	474,000
Aggregate credit loss	39,000	$ 41,000	$ 44,000	$ 48,000
Aggregate temporary impairment loss	$ 396,000

Long-Term Investments - Summary

Long-Term Investments - Summary of Available-for-Sale Securities (Detail) - Failed Auction Security [Member] - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Cost	$ 3,000	$ 3,000
Gross Unrealized Losses	435	474
Estimated Fair Value	$ 2,565	$ 2,526

Long-Term Investments - Amortiz

Long-Term Investments - Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Available-for-sale Securities, Debt Maturities [Abstract]
Due in twenty to forty years, Cost	$ 3,000
Due in twenty to forty years, Estimated Fair Value	$ 2,565

Long-Term Investments - Rollfor

Long-Term Investments - Rollforward of Credit (Gain) Loss Recognized in Earnings on Available-for-Sale Auction Rate Securities (Detail) - Failed Auction Security [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Balance at the beginning of the period	$ 41	$ 48
Reductions in the amount related to credit gain for which other-than-temporary impairment was not previously recognized	(2)	(4)
Balance at the end of the period	$ 39	$ 44

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Contingent Consideration Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, fair value on recurring basis	$ (306)	$ (408)
Failed Auction Security [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	2,565	2,526
Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	9,538	9,433
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	9,538	9,433
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Contingent Consideration Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, fair value on recurring basis	(306)	(408)
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Failed Auction Security [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	$ 2,565	$ 2,526

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Detail) - Failed Auction Security [Member] - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated Fair Value	$ 2,565
Cumulative Probability of Earning Maximum Rate Until Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Cumulative probability of earning the maximum rate until maturity
Weighted Average Interest Rate	0.08%
Cumulative Probability of Principal Return Prior to Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Cumulative probability of principal return prior to maturity
Weighted Average Interest Rate	94.34%
Cumulative Probability of Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Cumulative probability of default
Weighted Average Interest Rate	5.58%
Liquidity Risk Premium [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Liquidity risk premium
Weighted Average Interest Rate	5.00%
Recovery Rate in Default [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	Recovery rate in default
Weighted Average Interest Rate	40.00%

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, 2019USD ($)
Fair Value Disclosures [Abstract]
Balance at the beginning of the period	$ 2,526
Credit gain on available-for-sale securities included in Other income (expense), net	2
Gain included in Other comprehensive income	37
Balance at the end of the period	$ 2,565

Fair Value Measurements - Cha_2

Fair Value Measurements - Change in Estimated Fair Value Calculated for Liabilities Valued on Recurring Basis Utilizing Level 3 Inputs (Detail) - Significant Unobservable Inputs (Level 3) [Member] - Contingent Consideration Obligations [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at the beginning of the period	$ 408
Payments	(102)
Balance at the end of the period	$ 306

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Jun. 30, 2019USD ($)
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0

Revenue - Summary of Net Revenu

Revenue - Summary of Net Revenues Disaggregated by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 63,355	$ 74,196	$ 129,080	$ 139,465
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	48,005	48,349	94,630	88,986
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	15,350	25,847	34,450	50,479
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	31,055	26,419	60,296	52,042
United States [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	25,732	18,295	48,024	35,286
United States [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	5,323	8,124	12,272	16,756
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,016	6,152	15,011	11,525
Europe [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	6,374	4,877	12,383	9,602
Europe [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,642	1,275	2,628	1,923
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue	23,130	40,263	51,141	73,619
Asia Pacific [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	15,287	23,876	32,398	42,087
Asia Pacific [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,843	16,387	18,743	31,532
All Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,154	1,362	2,632	2,279
All Other [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	612	1,301	1,825	2,011
All Other [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 542	$ 61	$ 807	$ 268

Revenue - Summary of Net Reve_2

Revenue - Summary of Net Revenues Disaggregated by Category (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 63,355	$ 74,196	$ 129,080	$ 139,465
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	48,005	48,349	94,630	88,986
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	15,350	25,847	34,450	50,479
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member]
Disaggregation of Revenue [Line Items]
Revenue	53,027	66,534	107,741	123,294
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	40,843	43,404	80,791	78,878
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	12,184	23,130	26,950	44,416
Stocking Distributors, Net of Sales Allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue	10,029	6,943	19,311	14,849
Stocking Distributors, Net of Sales Allowances [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,111	4,735	13,228	9,698
Stocking Distributors, Net of Sales Allowances [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,918	2,208	6,083	5,151
Non-recurring Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenue	281	662	1,954	1,172
Non-recurring Engineering [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	51	197	599	372
Non-recurring Engineering [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	230	465	1,355	800
Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue		39	36	114
Royalties [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue		13	12	38
Royalties [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue		26	24	76
Other
Disaggregation of Revenue [Line Items]
Revenue	18	18	38	36
Other | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 18	$ 18	$ 38	$ 36

Revenue - Summary of Changes in

Revenue - Summary of Changes in Certain Contract Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Accounts receivable	$ 38,537	$ 43,673
Deferred revenue	(5,232)	(3,820)
Deferred expenses	1,216	501
Customer prepayments	(1,349)	(1,250)
Sales allowances	(640)	$ (548)
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable	(5,136)
Deferred revenue	(1,412)
Deferred expenses	715
Customer prepayments	(99)
Sales allowances	$ (92)

Product Warranties - Product Wa

Product Warranties - Product Warranty Activity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Guarantees [Abstract]
Balance at the beginning of the period	$ 231	$ 346	$ 268	$ 290
Accruals for warranties for products sold in the period	56	10	85	133
Fulfillment of warranty obligations	(17)	(20)	(83)	(77)
Revisions of estimated obligations		(10)		(20)
Balance at the end of the period	$ 270	$ 326	$ 270	$ 326

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 766	$ 1,180	$ 1,539	$ 1,916
Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	73	59	142	115
Selling, General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	506	957	1,025	1,499
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 187	$ 164	$ 372	$ 302

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 766	$ 1,180	$ 1,539	$ 1,916
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	509	1,005	1,042	1,598
ESPP [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 257	$ 175	$ 497	$ 318

Leases - Additional information

Leases - Additional information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating leases right of use assets	$ 3,933,000	$ 3,933,000	$ 4,329,000
Long-term lease liabilities current portion	1,660,000	1,660,000
Long-term lease liabilities non current portion	2,392,000	2,392,000		$ 102,000
Short-term lease cost	$ 480,000	$ 937,000
Weighted-average remaining lease term	3 years 6 months	3 years 6 months
Weighted-average discount rate	3.83%	3.83%
Additional interest factor		1.375%
Lease liabilities paid	$ 42,000	$ 63,000
ROU assets in exchange for new operating lease liabilities	56,000	462,000
Lease income	$ 214,000	$ 428,000

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) - USD ($)	Jun. 30, 2019	Jan. 01, 2019
2019	$ 911,000
2020	1,461,000
2021	756,000
2022	453,000
2023	357,000
Thereafter	413,000
Total lease payments	4,351,000
Less: Imputed interest	299,000
Present value of lease liabilities	$ 4,052,000	$ 4,455,000

Leases - Maturities of Lease Pa

Leases - Maturities of Lease Payments (Detail) $ in Thousands	Jun. 30, 2019USD ($)
2019	$ 429
2020	874
2021	901
2022	928
2023	955
Thereafter	402
Total lease payments to be received	$ 4,489

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	Jun. 30, 2019USD ($)
Income Tax Disclosure [Line Items]
Valuation allowance, deferred tax assets	$ 30,031,000

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 113	$ 363	$ 539	$ 497
Effective income tax rate	4.20%	4.40%	7.30%	4.00%

Net Income per Share - Computat

Net Income per Share - Computation Of Basic And Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income attributable to Vicor Corporation		$ 2,563	$ 7,860	$ 6,849	$ 11,803
Denominator:
Denominator for basic net income per share-weighted average shares	[1]	40,275	39,709	40,252	39,594
Effect of dilutive securities:
Employee stock options	[2]	806	937	803	812
Denominator for diluted net income per share - adjusted weighted-average shares and assumed conversions		41,081	40,646	41,055	40,406
Basic net income per share		$ 0.06	$ 0.20	$ 0.17	$ 0.30
Diluted net income per share		$ 0.06	$ 0.19	$ 0.17	$ 0.29
[1]	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.
[2]	Options to purchase 142,817 and 128,018 shares of Common Stock for the three and six months ended June 30, 2019, respectively, and 44,793 and 79,857 shares of Common Stock for the three and six months ended June 30, 2018, respectively, were not included in the calculation of net income per share as the effect would have been antidilutive.

Net Income per Share - Comput_2

Net Income per Share - Computation Of Basic And Diluted Net Income Per Share (Parenthetical) (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Options to purchase shares of Common Stock not included in the computation of diluted income per share	142,817	44,793	128,018	79,857

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capital expenditure commitments	$ 3,367,000