VECO
Veeco Instruments Inc.30.37
-0.39-1.27%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Granular segment guides, margin path
Q&A delivered granular 2026 revenue breakdowns: semiconductor up 15% to $550M midpoint, compound semis +33% to $80M, data storage doubling to $80M, offsetting scientific/other's 33% drop to $60M. HDD customers' HAMR adoption spurs multi-year CapEx, fully booking Veeco into 2027. Propel GaN tool lands $15M pilot order for 2026, with more possible. Margins hold 37-38% in Q1 but reach 45% target by H2 on new products and volumes; tariffs add ~100bps headwind. Data storage doubles, booked solid. Management stayed crisp on AI tailwinds. Investors track H2 margin execution.
Key Stats
Market Cap
1.83BP/E (TTM)
36.59Basic EPS (TTM)
0.83Dividend Yield
0%Recent Filings
10-K
FY2025 results
Veeco's FY2025 revenue fell 7% y/y to $664M, with Semiconductor up 2% to $477M (72% total) on laser annealing strength, yet Data Storage plunged 60% and Compound Semiconductor dropped 23%, dragging gross margins to 40% from 42% amid product mix and tariff costs. Q4 saw China laser annealing shipments detained at port but released, enabling revenue recognition, while new orders for GaN, ion beam, and wet processing signal 2026 growth, principally H2. Backlog swelled to $555M from $410M. Cash hit $390M; $230M notes due 2029 undrawn on $250M revolver. Pending Axcelis merger risks regulatory delays. U.S.-China trade disputes threaten export licenses.
8-K
Veeco Q4 revenue down, 2026 growth eyed
Veeco reported Q4 revenue of $165M, down from $182M last year, with FY2025 revenue at $664M versus $717M. GAAP net income fell to $1.1M from $15M quarterly, $35.4M yearly from $73.7M; non-GAAP EPS hit $0.24 Q4, $1.33 FY. Bookings accelerated H2 on AI demand. Merger costs weighed. Guides $740M-$800M revenue 2026. Pending Axcelis merger risks delays.
8-K
Veeco merger approved
8-K
Merger clears UK; revenue held
Veeco cleared UK regulatory hurdle for its Axcelis merger on January 22, 2026, waived Sweden filings, but awaits China approval; stockholder votes loom February 6 with proxy firm backing. Separately, $15 million in laser annealing shipments to China sit stuck at U.S. customs. Revenue unrecognized—guidance at risk. Exports unresolved.
8-K
Veeco supplements merger proxy
Veeco supplements its definitive proxy ahead of the February 6, 2026 special meeting for the Axcelis merger, addressing stockholder lawsuits alleging deficient disclosures. Additions detail merger background, including the August 12 Axcelis all-stock proposal at 0.340x exchange ratio for 40% ownership, negotiations, and UBS/J.P. Morgan analyses showing Veeco equity values of $30.14-$36.54 standalone versus $32.91-$40.07 combined. Veeco denies merit in claims but supplements to avoid litigation delays. Lawsuits seek injunctions.
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