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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2019	Oct. 21, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
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		28,645,840
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,758,218

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 81,229	$ 70,557
Accounts receivable, less allowance of $65 in 2019 and $224 in 2018	39,987	43,673
Inventories, net	49,688	47,370
Other current assets	5,114	3,460
Total current assets	176,018	165,060
Long-term deferred tax assets, net	241	265
Long-term investments, net	2,576	2,526
Property, plant and equipment, net	56,336	50,432
Other assets	2,739	2,785
Total assets	237,910	221,068
Current liabilities:
Accounts payable	10,329	16,149
Accrued compensation and benefits	9,548	10,657
Accrued expenses	2,335	2,631
Short-term lease liabilities	1,580
Sales allowances	1,076	548
Accrued severance and other charges		234
Income taxes payable	57	710
Short-term deferred revenue	5,843	5,069
Total current liabilities	30,768	35,998
Long-term deferred revenue	1,134	232
Contingent consideration obligations	210	408
Long-term income taxes payable	237	238
Long-term lease liabilities	2,845	102
Total liabilities	35,194	36,978
Commitments and contingencies (Note 12)
Vicor Corporation stockholders' equity:
Additional paid-in capital	199,166	193,457
Retained earnings	141,786	129,000
Accumulated other comprehensive loss	(278)	(394)
Treasury stock, at cost	(138,927)	(138,927)
Total Vicor Corporation stockholders' equity	202,269	183,656
Noncontrolling interest	447	434
Total equity	202,716	184,090
Total liabilities and equity	237,910	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	$ 404	$ 402

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounts receivable, allowance	$ 65	$ 224

Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Income Statement [Abstract]

Net revenues

$ 70,772

$ 78,035

$ 199,852

$ 217,500

Cost of revenues

37,770

39,031

106,647

112,402

Gross margin

33,002

39,004

93,205

105,098

Operating expenses:

Selling, general and administrative

15,443

15,280

45,846

46,493

Research and development

11,507

10,691

34,433

33,220

Severance and other charges

(10)

340

Total operating expenses

26,950

25,961

80,279

80,053

Income from operations

6,052

13,043

12,926

25,045

Other income (expense), net:

Total unrealized gains on available-for-sale securities, net

Less: portion of gains recognized in other comprehensive income

(10)

(30)

(47)

(82)

Net credit gains recognized in earnings

Other income (expense), net

145

230

670

612

Total other income (expense), net

146

232

673

618

Income before income taxes

6,198

13,275

13,599

25,663

Less: Provision for income taxes

266

227

805

724

Consolidated net income

5,932

13,048

12,794

24,939

Less: Net (loss) income attributable to noncontrolling interest

(5)

124

Net income attributable to Vicor Corporation

$ 5,937

$ 13,012

$ 12,786

$ 24,815

Net income per common share attributable to Vicor Corporation:

Basic

$ 0.15

$ 0.32

$ 0.62

Diluted

$ 0.14

$ 0.32

$ 0.31

$ 0.61

Shares used to compute net income per common share attributable to Vicor Corporation:

Basic

^[1]

40,332

40,120

40,279

39,769

Diluted

42,194

41,124

41,435

40,645

[1]	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.

Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Statement of Comprehensive Income [Abstract]

Consolidated net income

$ 5,932

$ 13,048

$ 12,794

$ 24,939

Foreign currency translation (losses) gains, net of tax

^[1]

(11)

(156)

(129)

Unrealized gains on available-for-sale securities, net of tax

^[1]

Other comprehensive (loss) income

(1)

(126)

121

(47)

Consolidated comprehensive income

5,931

12,922

12,915

24,892

Less: Comprehensive (loss) income attributable to noncontrolling interest

(6)

115

Comprehensive income attributable to Vicor Corporation

$ 5,937

$ 12,897

$ 12,902

$ 24,777

[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 September 30, 2019 and 2018. Therefore, there is no income tax benefit (provision) recognized for the three and nine months ended September 30, 2019 and 2018.

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
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-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Recognized income tax benefit (provision)	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Consolidated net income	$ 12,794	$ 24,939
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	7,647	6,870
Stock-based compensation expense, net	2,292	2,604
(Benefit) provision for doubtful accounts	(138)	91
Decrease in long-term income taxes payable	(1)
Increase in other long-term liabilities		7
Increase (decrease) in long-term deferred revenue	902	(54)
Gain on disposal of equipment	(23)	(45)
Deferred income taxes	24	26
Credit gain on available-for-sale securities	(3)	(6)
Change in current assets and liabilities, net	(6,955)	(11,590)
Net cash provided by operating activities	16,539	22,842
Investing activities:
Additions to property, plant and equipment	(9,122)	(6,894)
Proceeds from sale of equipment	23	45
Decrease in other assets	(37)	(92)
Net cash used for investing activities	(9,136)	(6,941)
Financing activities:
Proceeds from issuance of Common Stock	3,423	8,378
Payment of contingent consideration obligations	(198)	(208)
Net cash provided by financing activities	3,225	8,170
Effect of foreign exchange rates on cash	44	(95)
Net increase in cash and cash equivalents	10,672	23,976
Cash and cash equivalents at beginning of period	70,557	44,230
Cash and cash equivalents at end of period	$ 81,229	$ 68,206

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	6,504	6	6,498				6,504
Stock-based compensation expense	2,604		2,604				2,604
Issuances of stock through employee stock purchase plan	1,874	1	1,873				1,874
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	24,939			24,815			24,815	124
Other comprehensive income (loss)	(47)				(38)		(38)	(9)
Total comprehensive income	24,892						24,777	115
Ending Balance at Sep. 30, 2018	175,960	402	192,373	122,090	(516)	(138,927)	175,540	420	118
Beginning Balance at Jun. 30, 2018	158,938	399	188,276	109,078	(401)	(138,927)	158,543	395	118
Sales of Common Stock	2,465	3	2,462				2,465
Stock-based compensation expense	688		688				688
Issuances of stock through employee stock purchase plan	947		947				947
Components of comprehensive income, net of tax:
Net income	13,048			13,012			13,012	36
Other comprehensive income (loss)	(126)				(115)		(115)	(11)
Total comprehensive income	12,922						12,897	25
Ending Balance at Sep. 30, 2018	175,960	402	192,373	122,090	(516)	(138,927)	175,540	420	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	1,118	1	1,117				1,118
Stock-based compensation expense	2,292		2,292				2,292
Issuances of stock through employee stock purchase plan	2,305	1	2,304				2,305
Other	(4)		(4)				(4)
Components of comprehensive income, net of tax:
Net income	12,794			12,786			12,786	8
Other comprehensive income (loss)	121				116		116	5
Total comprehensive income	12,915						12,902	13
Ending Balance at Sep. 30, 2019	202,716	404	199,166	141,786	(278)	(138,927)	202,269	447	118
Beginning Balance at Jun. 30, 2019	194,316	403	196,698	135,849	(278)	(138,927)	193,863	453	118
Sales of Common Stock	690	1	689				690
Stock-based compensation expense	753		753				753
Issuances of stock through employee stock purchase plan	1,026		1,026				1,026
Components of comprehensive income, net of tax:
Net income	5,932			5,937			5,937	(5)
Other comprehensive income (loss)	(1)							(1)
Total comprehensive income	5,931						5,937	(6)
Ending Balance at Sep. 30, 2019	$ 202,716	$ 404	$ 199,166	$ 141,786	$ (278)	$ (138,927)	$ 202,269	$ 447	$ 118

Basis of Presentation

9 Months Ended

Sep. 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 nine months ended September 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

for the year ended December 31, 2018 filed by the Company with the Securities and Exchange Commission on February 28, 2019 (“2018 Form

10-K”).

Recently Adopted Accounting Standard

9 Months Ended

Sep. 30, 2019

Text Block [Abstract]

Recently Adopted Accounting Standard

2.	Recently Adopted Accounting Standard

In February 2016, the Financial Accounting Standards Board (“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

model (“ROU”) that requires a lessee to recognize a ROU asset and a lease liability on the balance sheet for all leases with a term longer than twelve months. Leases are classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. For lessors, the guidance modifies the classification criteria and accounting for sales-type and direct financing leases.

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

or the practical expedient pertaining to land easements, the latter not being applicable.

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 condensed consolidated statements of operations or cash flows for the three and nine months ended September 30, 2019.

Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventories

3.	Inventories

Inventories are valued at the lower of cost (determined using the

first-in,

first-out

method) or net realizable value. Fixed production overhead is allocated to the inventory cost per unit based on the normal capacity of the production facilities. Abnormal production costs, including fixed cost variances from normal production capacity, if any, are charged to cost of revenues in the period incurred. All shipping and handling costs incurred in connection with the sale of products are included in cost of revenues.

Inventory that is estimated to be excess, obsolete or unmarketable is written down to net realizable value. 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 sal

s 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):


	September 30, 2019		December 31, 2018
Raw materials	$	35,907	$	37,696
Work-in-process		4,854		4,740
Finished goods		8,927		4,934

Net balance	$	49,688	$	47,370

Long-Term Investments

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Long-Term Investments

4.	Long-Term Investments

As of September 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 September 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 September 30, 2019.

The following is a summary of

available-for-sale

securities (in thousands):


September 30, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Security	$	3,000	$	—	$	424	$	2,576


December 31, 2018	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Security	$	3,000	$	—	$	474	$	2,526

As of September 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 September 30, 2019, by contractual maturity,

are shown below (in thousands):


	Cost		Estimated Fair Value
Due in twenty to forty years	$	3,000	$	2,576

Based on the fair value measurements described in Note 5, the fair value of the Failed Auction Security on September 30, 2019, with a par value of $3,000,000, was estimated by the Company to be approximately $2,576,000. The gross unrealized loss of $424,000 on the Failed Auction Security consists of two types of estimated loss: an aggregate credit loss of $38,000 and an aggregate temporary impairment of $386,000. 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 nine months ended September 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		(3	)		(6	)

Balance at the end of the period	$	38		$	42

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

9 Months Ended

Sep. 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 September 30, 2019 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value as of September 30, 2019
Cash equivalents:
Money market funds	$	9,588	$	—	$	—		$	9,588
Long-term investments:
Failed Auction Security		—		—		2,576			2,576
Liabilities:
Contingent consideration obligations		—		—		(210	)		(210	)

Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2018 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value as of December 31, 2018
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 September 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 September 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 September 30, 2019 is as follows (dollars in thousands):

Fair Value

Valuation

Technique

Unobservable Input

Weighted
Average

Failed Auction Security

2,576

Discounted cash flow

Cumulative probability of earning the maximum rate until maturity

0.08%

Cumulative probability of principal return prior to maturity

94.78%

Cumulative probability of default

5.14%

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 nine months ended September 30, 2019 was as follows (in thousands):


Balance at the beginning of the period	$	2,526
Credit gain on available-for-sale securities included in Other income (expense), net		3
Gain included in Other comprehensive income		47

Balance at the end of the period	$	2,576

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 nine months ended September 30, 2019 was as follows (in thousands):


Balance at the beginning of the period	$	408
Payments		(198	)

Balance at the end of the period	$	210

There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2019.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenues

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenues

Revenue from the sale of Advanced Products represents the sum of third-party sales of the products sold under the Advanced Products line, which were sold under the former Picor and VI Chip operating segments during periods prior to the second quarter of 2019. Revenue from the sale of Brick Products represents the sum of third-party sales of the products sold under the Brick Products line, which were also sold under 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 September 30, 2019
	Brick Products		Advanced Products		Total
United States	$	25,265	$	4,290	$	29,555
Europe		5,577		889		6,466
Asia Pacific		14,510		18,875		33,385
All other		1,130		236		1,366

	$	46,482	$	24,290	$	70,772


	Nine Months Ended September 30, 2019
	Brick Products		Advanced Products		Total
United States	$	73,289	$	16,562	$	89,851
Europe		17,960		3,517		21,477
Asia Pacific		46,908		37,618		84,526
All other		2,955		1,043		3,998

	$	141,112	$	58,740	$	199,852


	Three Months Ended September 30, 2018
	Brick Products		Advanced Products		Total
United States	$	20,508	$	9,152	$	29,660
Europe		7,013		1,187		8,200
Asia Pacific		22,136		16,578		38,714
All other		1,369		92		1,461

	$	51,026	$	27,009	$	78,035


	Nine Months Ended September 30, 2018
	Brick Products		Advanced Products		Total
United States	$	55,794	$	25,908	$	81,702
Europe		16,615		3,110		19,725
Asia Pacific		64,223		48,110		112,333
All other		3,380		360		3,740

	$	140,012	$	77,488	$	217,500

The following tables present the Company’s net revenues disaggregated by the category of revenue, by product line (in thousands):


	Three Months Ended September 30, 2019
	Brick Products		Advanced Products			Total
Direct customers, contract manufacturers and non-stocking distributors	$	39,705	$	22,574		$	62,279
Stocking distributors, net of sales allowances		6,522		1,734			8,256
Non-recurring engineering		163		(36	)		127
Royalties		92		—			92
Other		—		18			18

	$	46,482	$	24,290		$	70,772


	Nine Months Ended September 30, 2019
	Brick Products		Advanced Products			Total
Direct customers, contract manufacturers and non-stocking distributors	$	120,496	$	49,524		$	170,020
Stocking distributors, net of sales allowances		19,750		7,817			27,567
Non-recurring engineering		762		1,319			2,081
Royalties		104		24			128
Other		—		56			56

	$	141,112	$	58,740		$	199,852


	Three Months Ended September 30, 2018
	Brick Products		Advanced Products			Total
Direct customers, contract manufacturers and non-stocking distributors	$	44,269	$	23,508		$	67,777
Stocking distributors, net of sales allowances		6,236		1,773			8,009
Non-recurring engineering		513		1,694			2,207
Royalties		8		16			24
Other		—		18			18

	$	51,026	$	27,009		$	78,035


	Nine Months Ended September 30, 2018
	Brick Products		Advanced Products		Total
Direct customers, contract manufacturers and non-stocking distributors	$	123,147	$	67,924	$	191,071
Stocking distributors, net of sales allowances		15,934		6,924		22,858
Non-recurring engineering		885		2,494		3,379
Royalties		46		92		138
Other		—		54		54

	$	140,012	$	77,488	$	217,500

The following table presents the changes in certain contract assets and (liabilities) (in thousands):


	September 30, 2019			December 31, 2018			Ch ange
Accounts receivable	$	39,987		$	43,673		$	(3,686	)
Short-term deferred revenue		(4,239	)		(3,820	)		(419	)
Long-term defer red revenue		(1,134	)		(232	)		(902	)
Deferred expenses		1,418			501			917
Customer prepayments		(1,604	)		(1,250	)		(354	)
Sales allowances		(1,076	)		(548	)		(528	)

The decrease in accounts receivable was primarily due to a decrease in net revenues of approximately $2,948,000 in the third quarter of 2019 compared to the fourth quarter of 2018.

Deferred expenses are included in Other current assets, and customer prepayments are included in Short-term deferred revenue, in the accompanying Condensed Consolidated Balance Sheets, respectively.

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 $23,000 and $53,000 for

the three and nine months ended September 30, 2019

respectively,

and $

471,000

and $

781,000

or the three and nine months ended September 30, 2018,

respectively, that was included in deferred revenue at the beginning of each respective period.

Product Warranties

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Balance at the beginning of the period	$	270		$	326		$	268		$	290
Accruals for warranties for products sold in the period		29			6			113			139
Fulfillment of warranty obligations		(41	)		(17	)		(123	)		(94	)
Revisions of estimated obligations		—			(58	)		—			(78	)

Balance at the end of the period	$	258		$	257		$	258		$	257

Stock-Based Compensation

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Cost of revenues	$	86	$	58	$	228	$	173
Selling, general and administrative		482		474		1,507		1,973
Research and development		185		156		557		458

Total stock-based compensation	$	753	$	688	$	2,292	$	2,604

Compensation expense by type of award was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Stock options	$	514	$	503	$	1,556	$	2,101
ESPP		239		185		736		503

Total stock-based compensation	$	753	$	688	$	2,292	$	2,604

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

Substantially all of the Company’s leases are classified as operating leases. The majority of the Company’s leases are for office and manufacturing space, along with several automobiles and certain equipment. Leases with initial terms of less than twelve months are not recorded on the balance sheet. Expense for these leases is recognized on a straight-line basis over the lease term. The Company’s leases have remaining terms of less than one year to just over six years. The majority of the Company’s leases do not have options to renew, although several have renewal terms to extend the lease for one five-year term, and one lease contains two five-year renewal options. None of the renewal options are included in determining the term of the lease, used for calculating the associated lease liabilities. None of the Company’s leases include variable payments, residual value guarantees or restrictive covenants. A number of the Company’s leases for office and manufacturing space include provision for common area maintenance (“CAM”). The Company accounts for CAM separately from lease payments, and therefore costs for CAM are not included in the determination of lease liabilities. The Company is a party to one arrangement as the lessor, for its former Westcor facility located in Sunnyvale, California, with a third party. The lessee under this lease has one option to renew the lease for a term of five years.

As of September 30, 2019, the balance of ROU assets was approximately $4,348,000, and the balances of

short-term

and long-term lease liabilities were approximately $1,580,000 and $2,845,000, respectively. For the three and nine months ended September 30, 2019, the Company recorded operating lease cost, including short-term lease cost, of approximately $461,000 and $1,398,000, 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	$	458
2020		1,576
2021		923
2022		625
2023		536
Thereafter		665

Total lease payments	$	4,783
Less: Imputed interest		358

Present value of lease liabilities	$	4,425

As of September 30, 2019, the weighted-average remaining lease term was 3.9 years and the weighted-average discount rate was 3.81% 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 nine months ended September 30, 2019, the Company paid approximately $44,000 and $107,000, respectively, for amounts included in the measurement of lease liabilities through operating cash flows, and obtained approximately $951,000 and $1,413,000 in ROU assets for the three and nine months ended September 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	$	215
2020		874
2021		901
2022		928
2023		955
Thereafter		402

Total lease payments to be received	$	4,275

For the three and nine months ended September 30, 2019, the Company recorded lease income under this lease of approximately $214,000 and $642,000, respectively.

Income Taxes

9 Months Ended

Sep. 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

income.

The provision for income taxes and the effective income tax rates were as follows (dollars in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Provision for income taxes	$	266		$	227		$	805		$	724
Effective income tax rate		4.3	%		1.7	%		5.9	%		2.8	%

The effective tax rates were lower than the statutory tax rates for the three and nine months ended September 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 nine months ended September 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 September 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 September 30, 2019, it has been in such a position for only a limited number of quarters and

its

overall profitability has been declining since the third quarter of 2018 primarily due to reduced bookings for both Brick and Advanced Products, reflecting U.S.-China trade/tariff dynamics and elements of macro uncertainty. In addition, continued 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 September 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 and the Company’s concerns about industry uncertainty and order volumes are alleviated to the point that the Company believes future profits can be more reliably forecasted, 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

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Net income attributable to Vicor Corporation	$	5,937	$	13,012	$	12,786	$	24,815

Denominator:
Denominator for basic net income per share-weighted average shares (1)		40,332		40,120		40,279		39,769
Effect of dilutive securities:
Employee stock options (2)		1,862		1,004		1,156		876

Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions		42,194		41,124		41,435		40,645

Basic net income per share	$	0.15	$	0.32	$	0.32	$	0.62

Diluted net income per share	$	0.14	$	0.32	$	0.31	$	0.61

(1)	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.

(2)

Options to purchase

171,499

and

138,251

shares of Common Stock for the three and nine months ended September 30, 2019, respectively, and

54,818

and

47,573

shares of Common Stock for the three and nine months ended September 30, 2018, respectively, were not included in the calculation

of net income per share as the effect would have been antidilutive.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12.	Commitments and Contingencies

At September 30, 2019, the Company had approximately $2,627,000 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, 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). 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 May 23, 2016, after extensive discovery, the Texas Action was stayed by the court pending completion of certain inter partes reexamination (“IPRx”) proceedings at the United States Patent and Trademark Office (“USPTO”) (including any appeals from such proceedings to the Federal Circuit (as defined below)) concerning the SynQor patents, which are described below. That stay remains in force.

In 2011, in response to the filing of the Texas Action, the Company’s IPRx proceedings at the USPTO challenged the validity of all claims that were asserted against the Company by SynQor. The current status of these proceedings is as follows. Regarding the ‘190 patent IPRx, 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 February 20, 2019, the PTAB issued a decision finding that all of the remaining challenged claims were unpatentable. SynQor has appealed that decision to the Federal Circuit, and the appeal remains pending. On August 30, 2017, the Federal Circuit issued rulings with regard to the IPRx proceedings for the ‘’021, ‘702 and ‘290 patents. 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 (“EPRx”) of the asserted claims of the ‘702 patent, based on different prior art references than had been at issue in the previous IPRx of the ‘702 patent. On September 12, 2018, a patent examiner found that all of the asserted claims were invalid. SynQor has appealed that ruling to the PTAB, where the appeal remains pending. On August 6, 2018, the Company filed a request with the USPTO for EPRx of the asserted claims of the ‘190 patent, based on different prior art references than had been at issue in the previous IPRx of the ‘190 patent. 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

9 Months Ended

Sep. 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 condensed consolidated financial statements for the three and nine months ended September 30, 2019 as a result of the merger.

Segment Information

9 Months Ended

Sep. 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 Accounting Standards

9 Months Ended

Sep. 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 FASB issued guidance which modifies the disclosure requirements on fair value measurements under Topic 820,

Fair Value Measurements

, including the consideration of costs and benefits

The new guidance is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2019, with early adoption permitted. It is required to be applied on a retrospective approach with certain elements being adopted prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. The Company has not yet determined the impact this new guidance will have on its consolidated financial statements and related disclosures.

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

debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. The new guidance is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. It is required to be applied on a modified-retrospective approach with certain elements being adopted prospectively. The Company does not expect the adoption of the new guidance will have a material impact on its consolidated financial statements and related disclosures.

Other new pronouncements issued but not effective until after September 30, 2019 are not expected to have a material impact on the Company’s consolidated financial statements.

Recently Adopted Accounting Standard (Policies)

9 Months Ended

Sep. 30, 2019

Accounting Changes and Error Corrections [Abstract]

Recently Adopted Accounting Standard

2.	Recently Adopted Accounting Standard

right-of-use

use-of-hindsight

or the practical expedient pertaining to land easements, the latter not being applicable.

Impact of recently issued accounting standards

15.	Impact of Recently Issued Accounting Standards

In August 2018, the FASB issued guidance which modifies the disclosure requirements on fair value measurements under Topic 820,

Fair Value Measurements

, including the consideration of costs and benefits

available-for-sale

Other new pronouncements issued but not effective until after September 30, 2019 are not expected to have a material impact on the Company’s consolidated financial statements.

Inventories (Tables)

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories were as follows (in thousands):


	September 30, 2019		December 31, 2018
Raw materials	$	35,907	$	37,696
Work-in-process		4,854		4,740
Finished goods		8,927		4,934

Net balance	$	49,688	$	47,370

Long-Term Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Securities

The following is a summary of

available-for-sale

securities (in thousands):


September 30, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Security	$	3,000	$	—	$	424	$	2,576


December 31, 2018	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
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 September 30, 2019, by contractual maturity,

are shown below (in thousands):


	Cost		Estimated Fair Value
Due in twenty to forty years	$	3,000	$	2,576

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 nine months ended September 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		(3	)		(6	)

Balance at the end of the period	$	38		$	42

Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2019 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value as of September 30, 2019
Cash equivalents:
Money market funds	$	9,588	$	—	$	—		$	9,588
Long-term investments:
Failed Auction Security		—		—		2,576			2,576
Liabilities:
Contingent consideration obligations		—		—		(210	)		(210	)

Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2018 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value as of December 31, 2018
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 September 30, 2019 is as follows (dollars in thousands):

Fair Value

Valuation

Technique

Unobservable Input

Weighted
Average

Failed Auction Security

2,576

Discounted cash flow

Cumulative probability of earning the maximum rate until maturity

0.08%

Cumulative probability of principal return prior to maturity

94.78%

Cumulative probability of default

5.14%

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 nine months ended September 30, 2019 was as follows (in thousands):


Balance at the beginning of the period	$	2,526
Credit gain on available-for-sale securities included in Other income (expense), net		3
Gain included in Other comprehensive income		47

Balance at the end of the period	$	2,576

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 nine months ended September 30, 2019 was as follows (in thousands):


Balance at the beginning of the period	$	408
Payments		(198	)

Balance at the end of the period	$	210

Revenues (Tables)

9 Months Ended

Sep. 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 September 30, 2019
	Brick Products		Advanced Products		Total
United States	$	25,265	$	4,290	$	29,555
Europe		5,577		889		6,466
Asia Pacific		14,510		18,875		33,385
All other		1,130		236		1,366

	$	46,482	$	24,290	$	70,772


	Nine Months Ended September 30, 2019
	Brick Products		Advanced Products		Total
United States	$	73,289	$	16,562	$	89,851
Europe		17,960		3,517		21,477
Asia Pacific		46,908		37,618		84,526
All other		2,955		1,043		3,998

	$	141,112	$	58,740	$	199,852


	Three Months Ended September 30, 2018
	Brick Products		Advanced Products		Total
United States	$	20,508	$	9,152	$	29,660
Europe		7,013		1,187		8,200
Asia Pacific		22,136		16,578		38,714
All other		1,369		92		1,461

	$	51,026	$	27,009	$	78,035


	Nine Months Ended September 30, 2018
	Brick Products		Advanced Products		Total
United States	$	55,794	$	25,908	$	81,702
Europe		16,615		3,110		19,725
Asia Pacific		64,223		48,110		112,333
All other		3,380		360		3,740

	$	140,012	$	77,488	$	217,500

The following tables present the Company’s net revenues disaggregated by the category of revenue, by product line (in thousands):


	Three Months Ended September 30, 2019
	Brick Products		Advanced Products			Total
Direct customers, contract manufacturers and non-stocking distributors	$	39,705	$	22,574		$	62,279
Stocking distributors, net of sales allowances		6,522		1,734			8,256
Non-recurring engineering		163		(36	)		127
Royalties		92		—			92
Other		—		18			18

	$	46,482	$	24,290		$	70,772


	Nine Months Ended September 30, 2019
	Brick Products		Advanced Products			Total
Direct customers, contract manufacturers and non-stocking distributors	$	120,496	$	49,524		$	170,020
Stocking distributors, net of sales allowances		19,750		7,817			27,567
Non-recurring engineering		762		1,319			2,081
Royalties		104		24			128
Other		—		56			56

	$	141,112	$	58,740		$	199,852


	Three Months Ended September 30, 2018
	Brick Products		Advanced Products			Total
Direct customers, contract manufacturers and non-stocking distributors	$	44,269	$	23,508		$	67,777
Stocking distributors, net of sales allowances		6,236		1,773			8,009
Non-recurring engineering		513		1,694			2,207
Royalties		8		16			24
Other		—		18			18

	$	51,026	$	27,009		$	78,035


	Nine Months Ended September 30, 2018
	Brick Products		Advanced Products		Total
Direct customers, contract manufacturers and non-stocking distributors	$	123,147	$	67,924	$	191,071
Stocking distributors, net of sales allowances		15,934		6,924		22,858
Non-recurring engineering		885		2,494		3,379
Royalties		46		92		138
Other		—		54		54

	$	140,012	$	77,488	$	217,500

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):


	September 30, 2019			December 31, 2018			Ch ange
Accounts receivable	$	39,987		$	43,673		$	(3,686	)
Short-term deferred revenue		(4,239	)		(3,820	)		(419	)
Long-term defer red revenue		(1,134	)		(232	)		(902	)
Deferred expenses		1,418			501			917
Customer prepayments		(1,604	)		(1,250	)		(354	)
Sales allowances		(1,076	)		(548	)		(528	)

Product Warranties (Tables)

9 Months Ended

Sep. 30, 2019

Guarantees and Product Warranties [Abstract]

Product Warranty Activity

Product warranty activity was as follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Balance at the beginning of the period	$	270		$	326		$	268		$	290
Accruals for warranties for products sold in the period		29			6			113			139
Fulfillment of warranty obligations		(41	)		(17	)		(123	)		(94	)
Revisions of estimated obligations		—			(58	)		—			(78	)

Balance at the end of the period	$	258		$	257		$	258		$	257

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Stock-Based Compensation Expense

Stock-based compensation expense was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Cost of revenues	$	86	$	58	$	228	$	173
Selling, general and administrative		482		474		1,507		1,973
Research and development		185		156		557		458

Total stock-based compensation	$	753	$	688	$	2,292	$	2,604

Summary of Compensation Expense by Type of Award

Compensation expense by type of award was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Stock options	$	514	$	503	$	1,556	$	2,101
ESPP		239		185		736		503

Total stock-based compensation	$	753	$	688	$	2,292	$	2,604

Leases (Table)

9 Months Ended

Sep. 30, 2019

Leases, Operating [Abstract]

Maturities of Lease Liabilities

The maturities of the Company’s lease liabilities are as follows (in thousands):


2019	$	458
2020		1,576
2021		923
2022		625
2023		536
Thereafter		665

Total lease payments	$	4,783
Less: Imputed interest		358

Present value of lease liabilities	$	4,425

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	$	215
2020		874
2021		901
2022		928
2023		955
Thereafter		402

Total lease payments to be received	$	4,275

Income Taxes (Tables)

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Provision for income taxes	$	266		$	227		$	805		$	724
Effective income tax rate		4.3	%		1.7	%		5.9	%		2.8	%

Net Income per Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator:
Net income attributable to Vicor Corporation	$	5,937	$	13,012	$	12,786	$	24,815

Denominator:
Denominator for basic net income per share-weighted average shares (1)		40,332		40,120		40,279		39,769
Effect of dilutive securities:
Employee stock options (2)		1,862		1,004		1,156		876

Denominator for diluted net income per share – adjusted weighted-average shares and assumed conversions		42,194		41,124		41,435		40,645

Basic net income per share	$	0.15	$	0.32	$	0.32	$	0.62

Diluted net income per share	$	0.14	$	0.32	$	0.31	$	0.61

(1)	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.

(2)

Options to purchase

171,499

and

138,251

shares of Common Stock for the three and nine months ended September 30, 2019, respectively, and

54,818

and

47,573

shares of Common Stock for the three and nine months ended September 30, 2018, respectively, were not included in the calculation

of net income per share as the effect would have been antidilutive.

Recently Adopted Accounting Standard - Additional Information (Detail) - USD ($)	Sep. 30, 2019	Jan. 01, 2019
Operating leases right of use assets	$ 4,348,000	$ 4,329,000
Operating Lease, Liability	$ 4,425,000	$ 4,455,000

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 35,907	$ 37,696
Work-in-process	4,854	4,740
Finished goods	8,927	4,934
Net balance	$ 49,688	$ 47,370

Long-Term Investments - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Sep. 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	$ 2,576,000	2,526,000
Gross Unrealized Losses	424,000	474,000
Aggregate credit loss	38,000	$ 41,000	$ 42,000	$ 48,000
Aggregate temporary impairment loss	$ 386,000

Long-Term Investments - Summary of Available-for-Sale Securities (Detail) - Failed Auction Security [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Cost	$ 3,000	$ 3,000
Gross Unrealized Losses	424	474
Estimated Fair Value	$ 2,576	$ 2,526

Long-Term Investments - Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
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	$ 2,576

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	9 Months Ended
	Sep. 30, 2019	Sep. 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	(3)	(6)
Balance at the end of the period	$ 38	$ 42

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 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	$ (210)	$ (408)
Failed Auction Security [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated Fair Value	2,576	2,526
Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents	9,588	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	9,588	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	(210)	(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	$ 2,576	$ 2,526

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Detail) - Failed Auction Security [Member] - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated Fair Value	$ 2,576
Cumulative Probability of Earning Maximum Rate Until Maturity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation Technique	Discounted cash flow
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	94.78%
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	5.14%
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 - Change in Estimated Fair Values Calculated for Investment Valued on Recurring Basis Utilizing Level 3 Inputs (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
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	3
Gain included in Other comprehensive income	47
Balance at the end of the period	$ 2,576

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	9 Months Ended
	Sep. 30, 2019 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at the beginning of the period	$ 408
Payments	(198)
Balance at the end of the period	$ 210

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

Revenues - Summary of Net Revenues Disaggregated by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 70,772	$ 78,035	$ 199,852	$ 217,500
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	46,482	51,026	141,112	140,012
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	24,290	27,009	58,740	77,488
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	29,555	29,660	89,851	81,702
United States [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	25,265	20,508	73,289	55,794
United States [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,290	9,152	16,562	25,908
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	6,466	8,200	21,477	19,725
Europe [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	5,577	7,013	17,960	16,615
Europe [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	889	1,187	3,517	3,110
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue	33,385	38,714	84,526	112,333
Asia Pacific [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	14,510	22,136	46,908	64,223
Asia Pacific [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	18,875	16,578	37,618	48,110
All Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,366	1,461	3,998	3,740
All Other [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,130	1,369	2,955	3,380
All Other [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 236	$ 92	$ 1,043	$ 360

Revenues - Summary of Net Revenues Disaggregated by Category (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 70,772	$ 78,035	$ 199,852	$ 217,500
Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	46,482	51,026	141,112	140,012
Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	24,290	27,009	58,740	77,488
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member]
Disaggregation of Revenue [Line Items]
Revenue	62,279	67,777	170,020	191,071
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	39,705	44,269	120,496	123,147
Direct Customers, Contract Manufacturers and Non-stocking Distributors [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	22,574	23,508	49,524	67,924
Stocking Distributors, Net of Sales Allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,256	8,009	27,567	22,858
Stocking Distributors, Net of Sales Allowances [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	6,522	6,236	19,750	15,934
Stocking Distributors, Net of Sales Allowances [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,734	1,773	7,817	6,924
Non-recurring Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenue	127	2,207	2,081	3,379
Non-recurring Engineering [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	163	513	762	885
Non-recurring Engineering [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	(36)	1,694	1,319	2,494
Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue	92	24	128	138
Royalties [Member] \| Brick Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	92	8	104	46
Royalties [Member] \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	16	24	92
Other
Disaggregation of Revenue [Line Items]
Revenue	18	18	56	54
Other \| Advanced Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 18	$ 18	$ 56	$ 54

Revenues - Summary of Changes in Certain Contract Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Accounts receivable	$ 39,987	$ 43,673
Short-term deferred revenue	(4,239)	(3,820)
Long-term deferred revenue	(1,134)	(232)
Deferred expenses	1,418	501
Customer prepayments	(1,604)	(1,250)
Sales allowances	(1,076)	$ (548)
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable	(3,686)
Short-term deferred revenue	(419)
Long-term deferred revenue	(902)
Deferred expenses	917
Customer prepayments	(354)
Sales allowances	$ (528)

Revenues - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Revenues - Additional Information (Detail) - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Decrease in net revenues	$ 2,948,000
Deferred revenue current	$ 23,000	$ 471,000	$ 53,000	$ 781,000

Product Warranties - Additional Information (Detail)		9 Months Ended
Product Warranties - Additional Information (Detail)	Jan. 01, 2017	Sep. 30, 2019
Product Warranty Liability [Line Items]
Product warranty period		2 years
Military Grade Products [Member]
Product Warranty Liability [Line Items]
Extended warranty period	3 years

Product Warranties - Product Warranty Activity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Guarantees [Abstract]
Balance at the beginning of the period	$ 270	$ 326	$ 268	$ 290
Accruals for warranties for products sold in the period	29	6	113	139
Fulfillment of warranty obligations	(41)	(17)	(123)	(94)
Revisions of estimated obligations		(58)		(78)
Balance at the end of the period	$ 258	$ 257	$ 258	$ 257

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 753	$ 688	$ 2,292	$ 2,604
Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	86	58	228	173
Selling, General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	482	474	1,507	1,973
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 185	$ 156	$ 557	$ 458

Stock-Based Compensation - Summary of Compensation Expense by Type of Award (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 753	$ 688	$ 2,292	$ 2,604
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	514	503	1,556	2,101
ESPP [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 239	$ 185	$ 736	$ 503

Leases - Additional information (Detail) - USD ($)	3 Months Ended	9 Months Ended
Leases - Additional information (Detail) - USD ($)	Sep. 30, 2019	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating leases right of use assets	$ 4,348,000	$ 4,348,000	$ 4,329,000
Short-term lease liabilities	1,580,000	1,580,000
Long-term lease liabilities	2,845,000	2,845,000		$ 102,000
Short-term lease cost	$ 461,000	$ 1,398,000
Weighted-average remaining lease term	3 years 10 months 24 days	3 years 10 months 24 days
Weighted-average discount rate	3.81%	3.81%
Additional interest factor		1.375%
Lease liabilities paid	$ 44,000	$ 107,000
ROU assets in exchange for new operating lease liabilities	951,000	1,413,000
Lease income	$ 214,000	$ 642,000

Leases - Maturities of Lease Liabilities (Detail) - USD ($)	Sep. 30, 2019	Jan. 01, 2019
2019	$ 458,000
2020	1,576,000
2021	923,000
2022	625,000
2023	536,000
Thereafter	665,000
Total lease payments	4,783,000
Less: Imputed interest	358,000
Present value of lease liabilities	$ 4,425,000	$ 4,455,000

Leases - Maturities of Lease Payments (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
2019	$ 215
2020	874
2021	901
2022	928
2023	955
Thereafter	402
Total lease payments to be received	$ 4,275

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

Income Taxes - Provision for Income Taxes and Effective Income Tax Rates (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 266	$ 227	$ 805	$ 724
Effective income tax rate	4.30%	1.70%	5.90%	2.80%

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

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Numerator:

Net income attributable to Vicor Corporation

$ 5,937

$ 13,012

$ 12,786

$ 24,815

Denominator:

Denominator for basic net income per share-weighted average shares

^[1]

40,332

40,120

40,279

39,769

Effect of dilutive securities:

Employee stock options

^[2]

1,862

1,004

1,156

876

Denominator for diluted net income per share - adjusted weighted-average shares and assumed conversions

42,194

41,124

41,435

40,645

Basic net income per share

$ 0.15

$ 0.32

$ 0.62

Diluted net income per share

$ 0.14

$ 0.32

$ 0.31

$ 0.61

[1]	Denominator represents weighted average number of shares of Common Stock and Class B Common Stock outstanding.
[2]	Options to purchase 171,499 and 138,251 shares of Common Stock for the three and nine months ended September 30, 2019, respectively, and 54,818 and 47,573 shares of Common Stock for the three and nine months ended September 30, 2018, respectively, were not included in the calculations of net income per share as the effect would have been antidilutive.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Net Income per Share - Computation Of Basic And Diluted Net Income Per Share (Parenthetical) (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Options to purchase shares of Common Stock not included in the computation of diluted income per share	171,499	54,818	138,251	47,573

Commitments and Contingencies - Additional Information (Detail)	Sep. 30, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capital expenditure commitments	$ 2,627,000