Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________ Commission File Number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Del ...

Financial Performance - Net revenues for Q2 2021 increased by 34.8% to $95,376,000 compared to $70,761,000 in Q2 2020, driven by a 68.6% increase in Advanced Products revenue[100] - Net revenues for the six months ended June 30, 2021 were $184,172,000, an increase of $50,010,000, or 37.3%, from $134,162,000 for the same period in 2020[113] - The increase in net revenues for Advanced Products was 78.5%, driven by a 126.9% increase in new orders[113] Profitability - Gross margin for Q2 2021 increased to $49,871,000, a 64.5% rise from $30,318,000 in Q2 2020, with gross margin percentage improving to 52.3% from 42.8%[101] - Gross margin for the six months ended June 30, 2021 increased by $36,922,000, or 64.0%, to $94,571,000, with a gross margin percentage of 51.3% compared to 43.0% in 2020[114] - Net income for Q2 2021 was $19,394,000, or $0.43 per diluted share, up from $15,092,000, or $0.34 per diluted share in Q1 2021[102] - For the six months ended June 30, 2021, the company reported net income of $34,486,000, or $0.77 per diluted share, compared to $932,000, or $0.02 per diluted share for the same period in 2020[126] Expenses - Operating expenses for Q2 2021 decreased by $118,000, or 0.4%, to $29,862,000 compared to Q1 2021[102] - Research and development expenses for Q2 2021 increased by $443,000, or 3.5%, totaling $13,273,000, while as a percentage of net revenues, it decreased to 13.9% from 18.1% in Q2 2020[108] - Selling, general and administrative expenses for the six months ended June 30, 2021 were $33,543,000, an increase of $1,719,000, or 5.4%, compared to the same period in 2020[117] Bookings and Backlog - Advanced Products bookings rose by 99.3% in Q2 2021 compared to Q1 2021, contributing to a total bookings increase of 51.0% in the same period[98] - Backlog at the end of Q2 2021 was approximately $210,565,000, up from $157,134,000 at the end of Q1 2021, reflecting increased bookings[98] Cash and Liquidity - As of June 30, 2021, the company had $159,763,000 in cash and cash equivalents and $70,469,000 in highly liquid short-term investments, with a current assets to current liabilities ratio of 7.0:1[127] - Working capital increased by $22,834,000 to $299,253,000 as of June 30, 2021, from $276,419,000 as of December 31, 2020[127] - The primary sources of cash for the six months ended June 30, 2021 included $30,115,000 from operating activities and $30,000,000 from the sale or maturities of short-term investments[130] - The company believes cash generated from operations, along with available cash and short-term investments, will be sufficient to fund planned operational needs and capital equipment purchases for the foreseeable future[132] Capital Expenditures - The company had approximately $21,524,000 in capital expenditure commitments for manufacturing equipment as of June 30, 2021[132] - Approximately $28,000,000 of remaining budgeted capital expenditures in 2021 are associated with the construction of a 90,000 sq. ft. addition to the existing manufacturing facility[132] Market Strategy - The company plans to focus on high-volume customers, expecting a greater concentration of sales among fewer customers over time[91] - The ongoing transition to serving larger volume customers is part of the company's strategy to target high growth market segments[90] Inventory and Sales - Export sales accounted for approximately 64.3% of total net revenues in Q2 2021, down from 69.4% in Q1 2021[98] - Advanced Products revenue rose 19.7% sequentially from Q1 2021, despite constraints from limited component availability due to global semiconductor supply issues[98] - Brick Products revenue increased by 17.1% to $54,352,000 in Q2 2021 compared to $46,428,000 in Q2 2020, benefiting from favorable market conditions[100] Taxation - The provision for income taxes for the six months ended June 30, 2021 was $856,000, with an effective income tax rate of 2.4%[125] Share Repurchase - The company did not repurchase shares under the November 2000 Plan during the six months ended June 30, 2021, with approximately $8,541,000 remaining available for repurchases[131] Investment Portfolio - The long-term investment portfolio included a single auction rate security with a par value of $3,000,000, which has experienced failed auctions since February 2008[134]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2742817 (State of Incorporation) (I.R.S. ...

Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2742817 (State or othe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________ Commission File Number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) (State of Incorporati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________ Commission File Number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2742817 (State ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2742817 (State of Incorporation) (I.R.S. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2742817 (State or other jurisdiction of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number 0-18277 VICOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2742817 (State of Incorporation) (I. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________ Commission File Number 0-18277 VICOR CORPORATION (State of Incorporation) (Exact name of registrant as specified in its charter) N ...