Vicor (VICR) 10-Q 3 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 25, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
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
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		32,225,594
Common Class B [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, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 187,677	$ 182,418
Short-term investments	19,921	45,215
Accounts receivable, net	54,536	55,097
Inventories	83,055	67,322
Other current assets	7,142	6,708
Total current assets	352,331	356,760
Long-term deferred tax assets, net	266	208
Long-term investment, net	2,552	2,639
Property, plant and equipment, net	156,815	115,975
Other assets	1,392	1,623
Total assets	513,356	477,205
Current liabilities:
Accounts payable	32,032	21,189
Accrued compensation and benefits	13,128	12,660
Accrued expenses	4,011	4,158
Short-term lease liabilities	1,572	1,551
Accrued severance and other charges		93
Sales allowances	1,006	1,464
Income taxes payable	2	66
Short-term deferred revenue and customer prepayments	7,702	7,912
Total current liabilities	59,453	49,093
Long-term deferred revenue	270	413
Long-term income taxes payable	577	569
Long-term lease liabilities	7,952	3,225
Total liabilities	68,252	53,300
Commitments and contingencies (Note 10)
Vicor Corporation stockholders' equity:
Additional paid-in capital	352,253	345,664
Retained earnings	233,225	217,633
Accumulated other comprehensive loss	(2,246)	(1,328)
Treasury stock at cost: 11,634,806 shares in 2022 and 2021	(138,927)	(138,927)
Total Vicor Corporation stockholders' equity	444,863	423,599
Noncontrolling interest	241	306
Total equity	445,104	423,905
Total liabilities and equity	513,356	477,205
Class B Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	118	118
Common Stock [Member]
Vicor Corporation stockholders' equity:
Common Stock	$ 440	$ 439

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical)	Jun. 30, 2022 Vote $ / shares shares	Dec. 31, 2021 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	11,758,218	11,758,218
Common Stock, shares outstanding	11,758,218	11,758,218
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	43,885,382	43,789,528
Common Stock, shares outstanding	32,220,576	32,154,722

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net revenues		$ 102,186	$ 95,376	$ 190,468	$ 184,172
Cost of revenues		55,337	45,505	106,018	89,601
Gross margin		46,849	49,871	84,450	94,571
Operating expenses:
Selling, general and administrative		20,035	16,589	38,603	33,543
Research and development		15,516	13,273	29,769	26,299
Total operating expenses		35,551	29,862	68,372	59,842
Income from operations		11,298	20,009	16,078	34,729
Other income (expense), net:
Total unrealized gains (losses) on available-for-sale securities, net		16	20	(87)	44
Less: portion of (gains) losses recognized in other comprehensive income		(15)	(19)	89	(42)
Net credit gains recognized in earnings		1	1	2	2
Other income (expense), net		83	372	244	603
Total other income (expense), net		84	373	246	605
Income before income taxes		11,382	20,382	16,324	35,334
Provision for income taxes		802	999	754	856
Consolidated net income		10,580	19,383	15,570	34,478
Less: Net loss attributable to noncontrolling interest		(13)	(11)	(22)	(8)
Net income attributable to Vicor Corporation		$ 10,593	$ 19,394	$ 15,592	$ 34,486
Net income per common share attributable to Vicor Corporation:
Basic		$ 0.24	$ 0.45	$ 0.35	$ 0.79
Diluted		$ 0.24	$ 0.43	$ 0.35	$ 0.77
Shares used to compute net income per common share attributable to Vicor Corporation:
Basic	[1]	43,973	43,553	43,963	43,504
Diluted		44,866	44,841	44,910	44,841
[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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Consolidated net income		$ 10,580	$ 19,383	$ 15,570	$ 34,478
Foreign currency translation losses, net of tax	[1]	(385)	(10)	(579)	(271)
Unrealized losses on available-for-sale securities, net of tax	[1]	(66)	(231)	(382)	(359)
Other comprehensive loss		(451)	(241)	(961)	(630)
Consolidated comprehensive income		10,129	19,142	14,609	33,848
Less: Comprehensive loss attributable to noncontrolling interest		(42)	(12)	(65)	(29)
Comprehensive income attributable to Vicor Corporation		$ 10,171	$ 19,154	$ 14,674	$ 33,877
[1]The deferred tax assets associated with foreign currency translation losses and unrealized losses on available-for-sale securities are completely offset by a tax valuation allowance as of June 30, 2022 and 2021. Therefore, there is no income tax benefit (provision) recognized for the three and six months ended June 30, 2022 and 2021.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Recognized income tax benefit (provision)	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Consolidated net income	$ 15,570	$ 34,478
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	6,665	5,618
Stock-based compensation expense	4,616	3,138
Decrease in long-term deferred revenue	(143)	(160)
Decrease in contingent consideration obligations	0	(74)
Gain on disposal of equipment	0	106
Increase in other assets	133	37
Increase in long-term income taxes payable	8	6
Deferred income taxes	(58)	5
Credit gain on available-for-sale securities	(2)	(2)
Change in current assets and liabilities, net	(11,381)	(13,037)
Net cash provided by operating activities	15,408	30,115
Investing activities:
Purchases of short-term investments	0	(50,706)
Sales or maturities of short-term investments	25,000	30,000
Additions to property, plant and equipment	(36,878)	(15,782)
Other	0	(106)
Net cash used for investing activities	(11,878)	(36,594)
Financing activities:
Proceeds from employee stock plans	1,974	4,751
Payment of contingent consideration obligations	0	(107)
Net cash provided by financing activities	1,974	4,644
Effect of foreign exchange rates on cash	(245)	(144)
Net increase (decrease) in cash and cash equivalents	5,259	(1,979)
Cash and cash equivalents at beginning of period	182,418	161,742
Cash and cash equivalents at end of period	$ 187,677	$ 159,763

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 Income (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, 2020	$ 351,155	$ 433	$ 328,392	$ 161,008	$ (204)	$ (138,927)	$ 350,820	$ 335	$ 118
Issuance of Common Stock under employee stock plans	4,751	3	4,748				4,751
Stock-based compensation expense	3,138		3,138				3,138
Components of comprehensive income (loss), net of tax:
Net income (loss)	34,478			34,486			34,486	(8)
Other comprehensive loss	(630)				(609)		(609)	(21)
Total comprehensive income (loss)	33,848						33,877	(29)
Ending Balance at Jun. 30, 2021	392,892	436	336,278	195,494	(813)	(138,927)	392,586	306	118
Beginning Balance at Mar. 31, 2021	370,482	435	333,011	176,100	(573)	(138,927)	370,164	318	118
Issuance of Common Stock under employee stock plans	1,701	1	1,700				1,701
Stock-based compensation expense	1,567		1,567				1,567
Components of comprehensive income (loss), net of tax:
Net income (loss)	19,383			19,394			19,394	(11)
Other comprehensive loss	(241)				(240)		(240)	(1)
Total comprehensive income (loss)	19,142						19,154	(12)
Ending Balance at Jun. 30, 2021	392,892	436	336,278	195,494	(813)	(138,927)	392,586	306	118
Beginning Balance at Dec. 31, 2021	423,905	439	345,664	217,633	(1,328)	(138,927)	423,599	306	118
Issuance of Common Stock under employee stock plans	1,974	1	1,973				1,974
Stock-based compensation expense	4,616		4,616				4,616
Components of comprehensive income (loss), net of tax:
Net income (loss)	15,570			15,592			15,592	(22)
Other comprehensive loss	(961)				(918)		(918)	(43)
Total comprehensive income (loss)	14,609						14,674	(65)
Ending Balance at Jun. 30, 2022	445,104	440	352,253	233,225	(2,246)	(138,927)	444,863	241	118
Beginning Balance at Mar. 31, 2022	432,189	440	349,467	222,632	(1,824)	(138,927)	431,906	283	118
Issuance of Common Stock under employee stock plans	164		164				164
Stock-based compensation expense	2,622		2,622				2,622
Components of comprehensive income (loss), net of tax:
Net income (loss)	10,580			10,593			10,593	(13)
Other comprehensive loss	(451)				(422)		(422)	(29)
Total comprehensive income (loss)	10,129						10,171	(42)
Ending Balance at Jun. 30, 2022	$ 445,104	$ 440	$ 352,253	$ 233,225	$ (2,246)	$ (138,927)	$ 444,863	$ 241	$ 118

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
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, 2022 are not necessarily indicative of the results that may be expected for any other interim period or the year ending December 31, 2022. The balance sheet at December 31, 2021 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”).

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	2. Inventories Inventories were as follows (in thousands): June 30, 2022 December 31, 2021 Raw materials $ 64,978 $ 51,289 Work-in-process 12,735 12,514 Finished goods 5,342 3,519 $ 83,055 $ 67,322

Short-Term and Long-Term Invest

Short-Term and Long-Term Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Short-Term and Long-Term Investments	3. Short-Term and Long-Term Investments As of June 30, 2022 and December 31, 2021, the Company held $19,921,000 and $45,215,000, respectively, of short-term investments, consisting of obligations of the U.S. Treasury, all of which were debt securities with original maturities greater than three months but less than one year at the time of purchase. As of June 30, 2022 and December 31, 2021, the Company held one auction rate security with a par value of $3,000,000 and an estimated fair value of approximately $2,552,000 and $2,639,000, 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, 2022, 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, 2022. Details of our investments are as follows (in thousands): June 30, 2022 Cash and Short-Term Long-Term Measured at fair value: Available-for-sale Money market funds $ 119,736 $ — $ — U.S. Treasury Obligations — 19,921 — Failed Auction Security — — 2,552 Total 119,736 19,921 2,552 Other measurement basis: Cash on hand 67,941 — — Total $ 187,677 $ 19,921 $ 2,552 December 31, 2021 Cash and Short-Term Long- Measured at fair value: Available-for-sale Money market funds $ 94,282 $ — $ — U.S. Treasury Obligations — 45,215 — Failed Auction Security — — 2,639 Total 94,282 45,215 2,639 Other measurement basis: Cash on hand 88,136 — — Total $ 182,418 $ 45,215 $ 2,639 The following is a summary of the available-for-sale June 30, 2022 Cost Gross Gross Estimated U.S. Treasury Obligations $ 20,083 $ — $ 162 $ 19,921 Failed Auction Security 3,000 — 448 2,552 December 31, 2021 Cost Gross Gross Estimated U.S. Treasury Obligations $ 45,238 $ — $ 23 $ 45,215 Failed Auction Security 3,000 — 361 2,639 As of June 30, 2022, 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 Cost Estimated U.S. Treasury Obligations: Maturities greater than three months but less than one year $ 20,083 $ 19,921 Cost Estimated Failed Auction Security: Due in twenty years $ 3,000 $ 2,552

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
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, 2022 (in thousands): Using Quoted Prices Significant Significant Total Fair Cash equivalents: Money market funds $ 119,736 $ — $ — $ 119,736 Short-term investments: U.S. Treasury Obligations 19,921 — — 19,921 Long-term investment: Failed Auction Security — — 2,552 2,552 Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2021 (in thousands): Using Quoted Prices Significant Significant Total Fair Cash equivalents: Money market funds $ 94,282 $ — $ — $ 94,282 Short-term investments: U.S. Treasury Obligations 45,215 — — 45,215 Long-term investment: Failed Auction Security — — 2,639 2,639 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, 2022 was as follows (in thousands): Balance at the beginning of the period $ 2,639 Credit gain on available-for-sale 2 Loss included in Other comprehensive income (89 ) Balance at the end of the period $ 2,552 Management utilized a probability weighted discounted cash flow model to determine the estimated fair value as of June 30, 2022.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2022
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, 2022 Brick Products Advanced Products Total United States $ 18,668 $ 12,782 $ 31,450 Europe 5,041 2,229 7,270 Asia Pacific 9,846 52,550 62,396 All other 968 102 1,070 $ 34,523 $ 67,663 $ 102,186 Six Months Ended June 30, 2022 Brick Products Advanced Products Total United States $ 32,729 $ 23,408 $ 56,137 Europe 12,083 4,997 17,080 Asia Pacific 23,367 92,045 115,412 All other 1,701 138 1,839 $ 69,880 $ 120,588 $ 190,468 Three Months Ended June 30, 2021 Brick Products Advanced Products Total United States $ 19,708 $ 14,356 $ 34,064 Europe 10,224 1,285 11,509 Asia Pacific 24,045 25,339 49,384 All other 375 44 419 $ 54,352 $ 41,024 $ 95,376 Six Months Ended June 30, 2021 Brick Products Advanced Products Total United States $ 38,291 $ 22,905 $ 61,196 Europe 18,420 2,280 20,700 Asia Pacific 51,373 49,992 101,365 All other 727 184 911 $ 108,811 $ 75,361 $ 184,172 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, 2022 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 23,566 $ 61,979 $ 85,545 Stocking distributors, net of sales allowances 10,908 3,102 14,010 Non-recurring 49 1,908 1,957 Royalties — 656 656 Other — 18 18 $ 34,523 $ 67,663 $ 102,186 Six Months Ended June 30, 2022 Brick Advanced Total Direct customers, contract manufacturers and non-stocking $ 47,967 $ 109,450 $ 157,417 Stocking distributors, net of sales allowances 21,672 6,846 28,518 Non-recurring 241 3,294 3,535 Royalties — 962 962 Other — 36 36 $ 69,880 $ 120,588 $ 190,468 Three Months Ended June 30, 2021 Brick Advanced Total Direct customers, contract manufacturers and non-stocking $ 37,614 $ 32,644 $ 70,258 Stocking distributors, net of sales allowances 16,634 4,634 21,268 Non-recurring 104 3,726 3,830 Royalties — 3 3 Other — 17 17 $ 54,352 $ 41,024 $ 95,376 Six Months Ended June 30, 2021 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 81,422 $ 61,701 $ 143,123 Stocking distributors, net of sales allowances 27,181 8,772 35,953 Non-recurring 208 4,797 5,005 Royalties — 56 56 Other — 35 35 $ 108,811 $ 75,361 $ 184,172 The following table presents the changes in certain contract assets and (liabilities) (in thousands): June 30, 2022 December 31, 2021 Change Short-term deferred revenue and customer prepayments $ (7,702 ) $ (7,912 ) $ 210 Long-term deferred revenue (270 ) (413 ) 143 Deferred expenses 559 560 (1 ) Sales allowances (1,006 ) (1,464 ) 458 Deferred expenses are included in Other current assets in the accompanying Condensed Consolidated Balance Sheets. 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 $1,136,000 and $931,000 for the three and six months ended June 30, 2022, respectively, and $2,410,000 and $3,081,000 for the three and six months ended June 30, 2021, respectively, that was included in deferred revenue at the beginning of each respective period.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [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 2022 2021 2022 2021 Cost of revenues $ 431 $ 252 $ 682 $ 480 Selling, general and administrative 1,440 779 2,647 1,632 Research and development 751 536 1,287 1,026 Total stock-based compensation $ 2,622 $ 1,567 $ 4,616 $ 3,138 Compensation expense by type of award was as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Stock options $ 2,351 $ 1,336 $ 4,110 $ 2,667 ESPP 271 231 506 471 Total stock-based compensation $ 2,622 $ 1,567 $ 4,616 $ 3,138

Rental Income

Rental Income	6 Months Ended
	Jun. 30, 2022
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 $198,000 and $396,000 for both

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
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 The provision for income taxes and the effective income tax rates were as follows (dollars in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Provision $ 802 $ 999 $ 754 $ 856 Effective income tax rate 7.0 % 4.9 % 4.6 % 2.4 % The effective tax rates were lower than the statutory tax rates for the three and six months ended June 30, 2022 and 2021 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, 2022 and 2021 included estimated federal, state and foreign income taxes in jurisdictions in which the Company does not have sufficient tax attributes, offset by excess tax benefits related to stock based compensation during those periods. As of June 30 , 2022, the Company has a valuation allowance of approximately $43,329,000 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. Despite recent positive operating results, the Company is in a cumulative loss position as of June 30, 2022, primarily due to tax deductions on 2020 and 2021 exercises of stock-based compensation. 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, 2022, 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, 2022. 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 operating results continue, and 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 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. There are no other audits or examinations in process in any other jurisdiction.

Net Income per Share

Net Income per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income per Share	9. 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 2022 2021 2022 2021 Numerator: Net income attributable to Vicor Corporation $ 10,593 $ 19,394 $ 15,592 $ 34,486 Denominator: Denominator for basic net income per share-weighted average shares (1) 43,973 43,553 43,963 43,504 Effect of dilutive securities: Employee stock options (2) 893 1,288 947 1,337 Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions 44,866 44,841 44,910 44,841 Basic net income per share $ 0.24 $ 0.45 $ 0.35 $ 0.79 Diluted net income per share $ 0.24 $ 0.43 $ 0.35 $ 0.77 (1) Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding. (2) Options to purchase 898,640 and 658,014 shares of Common Stock for the three and six months ended June 30, 2022, respectively, and options to purchase 138,125 and 90,339 shares of Common Stock for the three and six months ended June 30, 2021, respectively, were not included in the calculations of net income per share as the effect would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies At non-cancelable 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 (the “District Court”) for the Eastern District of Texas (the “Texas Action”). The complaint, as amended, 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 seeks an injunction against further infringement and an award of unspecified compensatory and enhanced damages, interest, costs and attorney fees. However, because each of the asserted SynQor patents has expired, an injunction is no longer available as relief should SynQor prevail in the Texas Action. The Company has denied that its products infringe any of the SynQor patents, and has asserted that the SynQor patents are invalid and/or unenforceable. The Company has also asserted counterclaims seeking damages from 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 November 24, 2015, the District Court ordered the Texas Action stayed pending completion of certain inter partes reexamination (“IPRx”) proceedings initiated by the Company at the United States Patent and Trademark Office (“USPTO”). In these IPRx proceedings, the Company challenged the validity of the SynQor patent claims asserted in the Texas Action. On November 16, 2021, the District Court issued an order lifting the stay. At a hearing on February 2, 2022, the District Court issued an order denying all pending summary judgment and other pre-trial non-infringement On March 1, 2022, the Company also filed a motion for involuntary dismissal of the ‘290 patent from the case. On May 25, 2022, a magistrate judge issued a report and recommendation recommending that the Company’s motion be granted. On June 8, 2022, SynQor filed objections to that report and recommendation. The District Court has not yet ruled on those objections. On April 5, 2022, the Court entered a scheduling order setting a trial date of October 17, 2022. The current status of the IPRx proceedings and related appeals is as follows: • ‘190 patent: Certain claims of the ‘190 patent were found unpatentable by the United States Court of Appeals for the Federal Circuit (“Federal Circuit”) in a decision issued on March 13, 2015. The court remanded the remaining claims to the USPTO for further consideration. On February 20, 2019, the Patent Trial and Appeal Board (“PTAB”) of the USPTO issued a decision finding that all of the remaining challenged claims were unpatentable. SynQor appealed that decision. On February 22, 2021, the Federal Circuit issued a decision in that appeal. In a 2-1 • ‘021 patent: On August 30, 2017, the Federal Circuit issued a final decision upholding a PTAB decision finding all of the asserted claims of the ‘021 patent unpatentable. In addition, SynQor attempted to amend the ‘021 patent to add new claims during the IPRx. Those claims were rejected by the PTAB. SynQor subsequently filed an appeal with the Federal Circuit seeking to vacate that rejection as moot, in view of the expiry of the term of the ‘021 patent. On June 17, 2022, the Federal Circuit issued a decision vacating the PTAB’s rejection as moot. • ‘702 patent: On August 30, 2017, the Federal Circuit issued a final decision upholding a PTAB decision finding all of the asserted claims of the ‘702 patent to be patentable. • ‘290 patent: On June 16, 2021, the PTAB issued a decision finding all of the claims of the ‘290 patent unpatentable. SynQor has filed an appeal of that decision to the Federal Circuit, where it remains pending. On January 23, 2018, the 20-year 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.

Impact of Recently Issued Accou

Impact of Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Impact of Recently Issued Accounting Standards	11. Impact of Recently Issued Accounting Standards New pronouncements issued but not effective until after June 30, 2022 are not expected to have a material impact on the Company’s consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories were as follows (in thousands): June 30, 2022 December 31, 2021 Raw materials $ 64,978 $ 51,289 Work-in-process 12,735 12,514 Finished goods 5,342 3,519 $ 83,055 $ 67,322

Short-Term and Long-Term Inve_2

Short-Term and Long-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Investment	Details of our investments are as follows (in thousands): June 30, 2022 Cash and Short-Term Long-Term Measured at fair value: Available-for-sale Money market funds $ 119,736 $ — $ — U.S. Treasury Obligations — 19,921 — Failed Auction Security — — 2,552 Total 119,736 19,921 2,552 Other measurement basis: Cash on hand 67,941 — — Total $ 187,677 $ 19,921 $ 2,552 December 31, 2021 Cash and Short-Term Long- Measured at fair value: Available-for-sale Money market funds $ 94,282 $ — $ — U.S. Treasury Obligations — 45,215 — Failed Auction Security — — 2,639 Total 94,282 45,215 2,639 Other measurement basis: Cash on hand 88,136 — — Total $ 182,418 $ 45,215 $ 2,639
Summary of Available-for-Sale Securities	The following is a summary of the available-for-sale June 30, 2022 Cost Gross Gross Estimated U.S. Treasury Obligations $ 20,083 $ — $ 162 $ 19,921 Failed Auction Security 3,000 — 448 2,552 December 31, 2021 Cost Gross Gross Estimated U.S. Treasury Obligations $ 45,238 $ — $ 23 $ 45,215 Failed Auction Security 3,000 — 361 2,639
Cost and Estimated Fair Value of Failed Auction Security by Contractual Maturities	The amortized cost and estimated fair value of the available-for-sale Cost Estimated U.S. Treasury Obligations: Maturities greater than three months but less than one year $ 20,083 $ 19,921 Cost Estimated Failed Auction Security: Due in twenty years $ 3,000 $ 2,552

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 (in thousands): Using Quoted Prices Significant Significant Total Fair Cash equivalents: Money market funds $ 119,736 $ — $ — $ 119,736 Short-term investments: U.S. Treasury Obligations 19,921 — — 19,921 Long-term investment: Failed Auction Security — — 2,552 2,552 Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2021 (in thousands): Using Quoted Prices Significant Significant Total Fair Cash equivalents: Money market funds $ 94,282 $ — $ — $ 94,282 Short-term investments: U.S. Treasury Obligations 45,215 — — 45,215 Long-term investment: Failed Auction Security — — 2,639 2,639
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, 2022 was as follows (in thousands): Balance at the beginning of the period $ 2,639 Credit gain on available-for-sale 2 Loss included in Other comprehensive income (89 ) Balance at the end of the period $ 2,552

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 Brick Products Advanced Products Total United States $ 18,668 $ 12,782 $ 31,450 Europe 5,041 2,229 7,270 Asia Pacific 9,846 52,550 62,396 All other 968 102 1,070 $ 34,523 $ 67,663 $ 102,186 Six Months Ended June 30, 2022 Brick Products Advanced Products Total United States $ 32,729 $ 23,408 $ 56,137 Europe 12,083 4,997 17,080 Asia Pacific 23,367 92,045 115,412 All other 1,701 138 1,839 $ 69,880 $ 120,588 $ 190,468 Three Months Ended June 30, 2021 Brick Products Advanced Products Total United States $ 19,708 $ 14,356 $ 34,064 Europe 10,224 1,285 11,509 Asia Pacific 24,045 25,339 49,384 All other 375 44 419 $ 54,352 $ 41,024 $ 95,376 Six Months Ended June 30, 2021 Brick Products Advanced Products Total United States $ 38,291 $ 22,905 $ 61,196 Europe 18,420 2,280 20,700 Asia Pacific 51,373 49,992 101,365 All other 727 184 911 $ 108,811 $ 75,361 $ 184,172
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, 2022 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 23,566 $ 61,979 $ 85,545 Stocking distributors, net of sales allowances 10,908 3,102 14,010 Non-recurring 49 1,908 1,957 Royalties — 656 656 Other — 18 18 $ 34,523 $ 67,663 $ 102,186 Six Months Ended June 30, 2022 Brick Advanced Total Direct customers, contract manufacturers and non-stocking $ 47,967 $ 109,450 $ 157,417 Stocking distributors, net of sales allowances 21,672 6,846 28,518 Non-recurring 241 3,294 3,535 Royalties — 962 962 Other — 36 36 $ 69,880 $ 120,588 $ 190,468 Three Months Ended June 30, 2021 Brick Advanced Total Direct customers, contract manufacturers and non-stocking $ 37,614 $ 32,644 $ 70,258 Stocking distributors, net of sales allowances 16,634 4,634 21,268 Non-recurring 104 3,726 3,830 Royalties — 3 3 Other — 17 17 $ 54,352 $ 41,024 $ 95,376 Six Months Ended June 30, 2021 Brick Products Advanced Products Total Direct customers, contract manufacturers and non-stocking $ 81,422 $ 61,701 $ 143,123 Stocking distributors, net of sales allowances 27,181 8,772 35,953 Non-recurring 208 4,797 5,005 Royalties — 56 56 Other — 35 35 $ 108,811 $ 75,361 $ 184,172
Summary of Changes in Contract Assets And Liabilities	The following table presents the changes in certain contract assets and (liabilities) (in thousands): June 30, 2022 December 31, 2021 Change Short-term deferred revenue and customer prepayments $ (7,702 ) $ (7,912 ) $ 210 Long-term deferred revenue (270 ) (413 ) 143 Deferred expenses 559 560 (1 ) Sales allowances (1,006 ) (1,464 ) 458

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Stock-Based Compensation Expense	Stock-based compensation expense was as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Cost of revenues $ 431 $ 252 $ 682 $ 480 Selling, general and administrative 1,440 779 2,647 1,632 Research and development 751 536 1,287 1,026 Total stock-based compensation $ 2,622 $ 1,567 $ 4,616 $ 3,138
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 2022 2021 2022 2021 Stock options $ 2,351 $ 1,336 $ 4,110 $ 2,667 ESPP 271 231 506 471 Total stock-based compensation $ 2,622 $ 1,567 $ 4,616 $ 3,138

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
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 2022 2021 2022 2021 Provision $ 802 $ 999 $ 754 $ 856 Effective income tax rate 7.0 % 4.9 % 4.6 % 2.4 %

Net Income per Share (Tables)

Net Income per Share (Tables)	6 Months Ended
	Jun. 30, 2022
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 2022 2021 2022 2021 Numerator: Net income attributable to Vicor Corporation $ 10,593 $ 19,394 $ 15,592 $ 34,486 Denominator: Denominator for basic net income per share-weighted average shares (1) 43,973 43,553 43,963 43,504 Effect of dilutive securities: Employee stock options (2) 893 1,288 947 1,337 Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions 44,866 44,841 44,910 44,841 Basic net income per share $ 0.24 $ 0.45 $ 0.35 $ 0.79 Diluted net income per share $ 0.24 $ 0.43 $ 0.35 $ 0.77 (1) Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding. (2) Options to purchase 898,640 and 658,014 shares of Common Stock for the three and six months ended June 30, 2022, respectively, and options to purchase 138,125 and 90,339 shares of Common Stock for the three and six months ended June 30, 2021, respectively, were not included in the calculations 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, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 64,978	$ 51,289
Work-in-process	12,735	12,514
Finished goods	5,342	3,519
Net balance	$ 83,055	$ 67,322

Short-Term and Long-Term Inve_3

Short-Term and Long-Term Investments - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Unrealized Losses On Short Term And Long Term Investments [Line Items]
Short Term Investments	$ 19,921	$ 45,215
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	3,000
Period for which failed auction securities been in unrealized loss position	exceeds 12 months
Estimated Fair Value	$ 2,552	$ 2,639

Short-Term and Long-Term Inve_4

Short-Term and Long-Term Investments - Summary of Investment (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	$ 187,677	$ 182,418
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	19,921	45,215
Other Long-term Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	2,552	2,639
Auction Rate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	2,552	2,639
Auction Rate Securities [Member] | Other Long-term Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	2,552	2,639
Estimate of Fair Value Measurement [Member] | Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	119,736	94,282
Estimate of Fair Value Measurement [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	19,921	45,215
Estimate of Fair Value Measurement [Member] | Other Long-term Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	2,552	2,639
Estimate of Fair Value Measurement [Member] | Auction Rate Securities [Member] | Other Long-term Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	2,552	2,639
Estimate of Fair Value Measurement [Member] | Money Market Funds [Member] | Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	119,736	94,282
Estimate of Fair Value Measurement [Member] | US Treasury Obligations [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	19,921	45,215
Portion at Other than Fair Value Measurement [Member] | Cash [Member] | Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Available-for-sale	$ 67,941	$ 88,136

Short-Term and Long-Term Inve_5

Short-Term and Long-Term Investments - Summary of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
US Treasury Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Cost	$ 20,083	$ 45,238
Gross Unrealized Gains	0	0
Gross Unrealized Losses	162	23
Estimated Fair Value	19,921	45,215
Failed Auction Security [Member]
Debt Securities, Available-for-sale [Line Items]
Cost	3,000	3,000
Gross Unrealized Losses	448	361
Estimated Fair Value	$ 2,552	$ 2,639

Short-Term and Long-Term Inve_6

Short-Term and Long-Term Investments - Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Failed Auction Security [Member]
Schedule of Available-for-sale Securities [Line Items]
Due in twenty years, Cost	$ 3,000
Due in twenty years, Estimated Fair Value	2,552
US Treasury Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Maturities greater than three months but less than one year, Cost	20,083
Maturities greater than three months but less than one year, Estimated Fair Value	$ 19,921

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Short-term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	$ 19,921	$ 45,215
Other Long-term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	2,552	2,639
Failed Auction Security [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	2,552	2,639
Failed Auction Security [Member] | Other Long-term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	2,552	2,639
US Treasury Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	19,921	45,215
US Treasury Obligations [Member] | Short-term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	19,921	45,215
Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	119,736	94,282
Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | US Treasury Obligations [Member] | Short-term Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	19,921	45,215
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	119,736	94,282
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	$ 2,552	$ 2,639

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, 2022 USD ($)
Fair Value Disclosures [Abstract]
Balance at the beginning of the period	$ 2,639
Credit gain on available-for-sale security included in Other income (expense), net	2
Loss included in Other comprehensive income	(89)
Balance at the end of the period	$ 2,552

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 102,186	$ 95,376	$ 190,468	$ 184,172
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	34,523	54,352	69,880	108,811
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	67,663	41,024	120,588	75,361
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	31,450	34,064	56,137	61,196
United States [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	18,668	19,708	32,729	38,291
United States [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	12,782	14,356	23,408	22,905
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,270	11,509	17,080	20,700
Europe [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	5,041	10,224	12,083	18,420
Europe [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,229	1,285	4,997	2,280
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue	62,396	49,384	115,412	101,365
Asia Pacific [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	9,846	24,045	23,367	51,373
Asia Pacific [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	52,550	25,339	92,045	49,992
All Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,070	419	1,839	911
All Other [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	968	375	1,701	727
All Other [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 102	$ 44	$ 138	$ 184

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 102,186	$ 95,376	$ 190,468	$ 184,172
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	34,523	54,352	69,880	108,811
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	67,663	41,024	120,588	75,361
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member]
Disaggregation of Revenue [Line Items]
Revenue	85,545	70,258	157,417	143,123
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	23,566	37,614	47,967	81,422
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	61,979	32,644	109,450	61,701
Stocking Distributors, Net of Sales Allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue	14,010	21,268	28,518	35,953
Stocking Distributors, Net of Sales Allowances [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	10,908	16,634	21,672	27,181
Stocking Distributors, Net of Sales Allowances [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,102	4,634	6,846	8,772
Non-recurring Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,957	3,830	3,535	5,005
Non-recurring Engineering [Member] | Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	49	104	241	208
Non-recurring Engineering [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,908	3,726	3,294	4,797
Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue	656	3	962	56
Royalties [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	656	3	962	56
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	18	17	36	35
Other [Member] | Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 18	$ 17	$ 36	$ 35

Revenues - Summary of Changes i

Revenues - Summary of Changes in Certain Contract Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Short-term deferred revenue and customer prepayments	$ (7,702)	$ (7,912)
Long-term deferred revenue	(270)	(413)
Deferred expenses	559	560
Sales allowances	(1,006)	$ (1,464)
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Short-term deferred revenue and customer prepayments	210
Long-term deferred revenue	143
Deferred expenses	(1)
Sales allowances	$ 458

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Deferred Revenue, Revenue Recognized	$ 1,136,000	$ 2,410,000	$ 931,000	$ 3,081,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 2,622	$ 1,567	$ 4,616	$ 3,138
Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	431	252	682	480
Selling, General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	1,440	779	2,647	1,632
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 751	$ 536	$ 1,287	$ 1,026

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 2,622	$ 1,567	$ 4,616	$ 3,138
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	2,351	1,336	4,110	2,667
ESPP [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 271	$ 231	$ 506	$ 471

Rental Income - Additional info

Rental Income - Additional information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Lease income	$ 198,000	$ 396,000	$ 198,000	$ 396,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	Jun. 30, 2022 USD ($)
Income Tax Disclosure [Line Items]
Valuation allowance, deferred tax assets	$ 43,329,000

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 802	$ 999	$ 754	$ 856
Effective income tax rate	7%	4.90%	4.60%	2.40%

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income (loss) attributable to Vicor Corporation		$ 10,593	$ 19,394	$ 15,592	$ 34,486
Denominator:
Denominator for basic net income per share-weighted average shares	[1]	43,973	43,553	43,963	43,504
Effect of dilutive securities:
Employee stock options	[2]	893	1,288	947	1,337
Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions		44,866	44,841	44,910	44,841
Basic net income (loss) per share		$ 0.24	$ 0.45	$ 0.35	$ 0.79
Diluted net income (loss) per share		$ 0.24	$ 0.43	$ 0.35	$ 0.77
[1]Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.[2]Options to purchase 898,640 and 658,014 shares of Common Stock for the three and six months ended June 30, 2022, respectively, and options to purchase 138,125 and 90,339 shares of Common Stock for the three and six months ended June 30, 2021, respectively, were not included in the calculations 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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Options to purchase shares of Common Stock not included in the computation of diluted income per share	898,640	138,125	658,014	90,339

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 USD ($)
Capital expenditures incurred but not yet paid	$ 10,640,000
Non Cancellable Capital Expenditure Commitments [Member]
Capital expenditure commitments	$ 32,034,000