10-K · February 25, 2026
Veeco reports fiscal 2025 revenue of $664.3 million and GAAP net income of $35.4 million (diluted EPS $0.59), with backlog rising to $554.9 million at December 31, 2025. Results show margin compression (Q4 gross margin…
Earnings analysis · 10-Q
VECO earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Veeco Instruments Inc. reported disappointing Q1 2026 results, with revenue of $158.3 million and a net loss of $(0.3) million, missing consensus estimates for revenue and EPS. Though semiconductor market revenue…
Read full summary
Veeco Instruments Inc. reported disappointing Q1 2026 results, with revenue of $158.3 million and a net loss of $(0.3) million, missing consensus estimates for revenue and EPS. Though semiconductor market revenue decreased, the compound semiconductor and data storage segments showed growth, while management remains optimistic about future growth driven by AI and advanced computing technologies.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.14
- Segment
- Semiconductor revenue down 12%
- Segment
- Compound Semiconductor revenue up 31%
- Segment
- Data Storage revenue up 52%
- Segment
- Scientific & Other revenue down 9%
What stood out
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Revenue Decrease
Total revenue fell to $158.3 million, down 5% from $167.3 million in Q1 2025.
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Glaring EPS Miss
Reported EPS of $(0.14) significantly missed consensus estimate of $0.19.
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Compound Semiconductor Growth
Revenue from the Compound Semiconductor segment increased by 31%, contributing 12% of total revenue.
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Data Storage Segment Surges
Data Storage revenue rose 52% year-over-year, making up 6% of total revenues.
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Cash Position Strengthens
Cash and cash equivalents increased to $179.5 million from $163.5 million in December 2025.
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Increased Merger Costs
Total operating expenses increased by 8% to $58.5 million primarily due to $2.0 million in merger-related costs.
What to watch
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Severe Revenue Decline in China
Sales in China plummeted by 72%, impacting overall revenue expectations.
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Operating Loss
Operating loss of $(2.7) million compared to an operating income of $14.1 million in Q1 2025.
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High Logistics Costs
Adverse product mix and rising logistics costs adversely affected gross margins, decreasing to 35% from 41%.
Management's outlook
Management expects Q2 2026 revenue between $170 million to $190 million and EPS between $0.02 to $0.15.
Earlier filings 4
10-Q · November 5, 2025
Veeco reported Q3 net sales of $165,881,000 and diluted EPS of $0.17, with year-over-year declines in revenue, gross margin and operating income versus Q3 2024. Liquidity strengthened (cash $193,192,000; short-term…
10-Q · May 7, 2025
Veeco reported Q1 net sales of $167.3M and diluted EPS of $0.20. Revenue and gross profit declined versus Q1 2024 (sales down $7.2M to $167.3M; gross profit down $6.95M to $68.47M) while operating income fell to…
10-K · February 16, 2024
Veeco positions itself as a diversified supplier of advanced process equipment across Semiconductor, Compound Semiconductor, Data Storage and Scientific markets, emphasizing roadmap items such as nanosecond laser…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.