Veeco Instruments Inc.
29.33+0.36 (+1.24%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · VECO · USD
Key Stats
Market Cap
1.76BP/E (TTM)
28.75Basic EPS (TTM)
1.02Dividend Yield
0%Recent Filings
8-K
Veeco-Axcelis merger announced
Veeco Instruments announced an all-stock merger with Axcelis Technologies on September 30, 2025, where Veeco shareholders receive 0.3575 Axcelis shares per Veeco share, yielding 41.6% ownership in the combined entity. This deal merges complementary semiconductor equipment portfolios, expanding the addressable market beyond $5 billion amid AI-driven demand, while boosting R&D scale for innovation. Closing is targeted for 2026, pending approvals. Integration risks loom large.
8-K
Veeco Q2 revenue dips slightly
Veeco Instruments reported Q2 2025 revenue of $166.1 million, down from $175.9 million last year, yet GAAP net income held at $11.7 million with non-GAAP EPS at $0.36, driven by AI-fueled shipments of wet processing, lithography, and ion beam systems. Strong performance in advanced packaging and EUV mask blanks offset softer demand elsewhere. Q3 guidance projects $150-170 million revenue. Trade disputes pose risks.
10-Q
Q2 FY2025 results
Veeco's Q2 revenue dipped 6% y/y to $166.1M, with semiconductor sales up 13% y/y to $123.9M on stronger ion beam deposition and wet processing shipments, yet data storage plunged 64% y/y to $12.4M amid muted capacity investments. Gross margins slipped to 41.4% from 42.9%, reflecting lower volumes and tariff-driven costs, while operating income fell 26% y/y to $12.4M. Diluted EPS of $0.20 edged down from $0.25, reconciling neatly with 60.2M shares and $11.7M net income. Cash swelled to $188.9M, bolstered by $29.0M operating cash flow and $18.7M free cash flow (derived), against $225.4M in 2.875% notes due 2029; the $250M revolver remains undrawn with no covenant breaches. Settlement of $25M 2027 notes in May for $5.4M cash and 1.6M shares trimmed debt. Tariffs cloud demand, especially in China.
8-K
Veeco expands revolver to $250M
Veeco Instruments boosted its revolving credit facility by $25 million to $250 million on June 16, 2025, extending the term to June 16, 2030 while trimming interest margins by 25 basis points across the board. This tweak hands Veeco more cash firepower and wiggle room on covenants, easing secured net leverage up to 3.0x from 2.5x. Lenders get a springing maturity if liquidity dips below note balances plus $75 million.
8-K
Veeco exchanges convertible notes
Veeco Instruments completed private exchanges of its entire $25.0 million 3.75% Convertible Senior Notes due 2027 for 1,643,084 shares of common stock and $5.4 million in cash, including accrued interest, on May 15, 2025. The company canceled the notes and discharged the indenture, eliminating future obligations. This move strengthens the balance sheet while reducing interest expense and debt. Balance sheet fortified.
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