Strategic investments in next-generation nanosecond annealing (NSA) and IBD300 systems for low-resistance metals are progressing through evaluations at multiple Tier 1 logic and DRAM customers.Compound semiconductor market share gains are being realized through new 300-millimeter GaN-on-silicon and arsenide phosphide systems targeting power, microLED, and photonics markets.Data storage demand is rebounding as customers adopt Heat-Assisted Magnetic Recording (HAMR), leading to increased capital intensity and ...

Veeco Instruments (NasdaqGS:VECO) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Company ParticipantsAlex Delacroix - Head of Investor RelationsBill Miller - CEODavid Duley - Managing PrincipalDenis Pyatchanin - Equity Research AssociateJohn Kiernan - SVP and CFOOperatorGreetings, welcome to the Veeco fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. It's now my pleasure to introduce your host, Alex Delacroix, Head of Investor Relations. Thank yo ...

Veeco Instruments (NasdaqGS:VECO) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Company ParticipantsAlex Delacroix - Head of Investor RelationsBill Miller - CEODavid Duley - Managing PrincipalDenis Pyatchanin - Equity Research AssociateJohn Kiernan - SVP and CFOOperatorGreetings, welcome to the Veeco fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. It's now my pleasure to introduce your host, Anthony Pappone, Head of Investor Relations. Thank y ...

Financial Data and Key Metrics Changes - Fourth quarter revenue was $165 million, and EPS was $0.24, both at the midpoint of guidance [9] - Full year revenue totaled $664 million, a decline of 7% from the prior year, with EPS at $1.33 [16] - Semiconductor business revenue reached $477 million, up 2% year-over-year, accounting for 72% of total revenue [16] - Gross margin for the full year was 41%, with operating income of $84 million and net income of $80 million [18] Business Line Data and Key Metrics Changes - Semiconductor business drove revenue growth, primarily from laser annealing, wet processing, and ion beam EUV technology [5] - Advanced packaging business doubled year-over-year, reaching $150 million in 2025 [12] - Compound semiconductor revenue was $60 million, a decline from the prior year, representing 9% of total revenue [16] - Data storage revenue totaled $39 million, also declining from the prior year, comprising 6% of revenue [16] Market Data and Key Metrics Changes - Asia Pacific region accounted for 50% of total revenue, with China contributing 27% [17] - Revenue from the Asia Pacific increased to 54% in Q4 due to higher semiconductor sales [19] - Order backlog at year-end was $555 million, a significant increase of $145 million from the prior year, reflecting a 35% growth [17] Company Strategy and Development Direction - Company aims to expand its presence in the memory market, focusing on AI-driven architectures and advanced packaging [10] - The merger with Axcelis is expected to enhance R&D scale and broaden the product platform [8] - Company is strategically investing in next-generation technologies to meet customer demands [4] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth for 2026, forecasting between $740 million and $800 million [22] - Anticipated growth in semiconductor business driven by AI and high-performance computing [22] - Management noted that the semiconductor market is projected to grow to over $1 trillion, with AI accounting for more than half of sales [24] Other Important Information - The company is fully booked for system orders in 2026, with multiple orders extending into 2027 [32] - Gross margins are expected to improve in the second half of 2026, reaching targets of 45% [41] - Tariff impacts are factored into the 2026 guidance, with a headwind of about 100 basis points [43] Q&A Session Summary Question: Outlook for 2026 revenue growth across segments - Company expects overall revenue for 2026 to be between $740 million and $800 million, with semiconductor revenue projected to grow around 15% [30] Question: Capital expenditure trends in the hard disk drive business - Company noted increasing CapEx from customers due to HAMR adoption, indicating a multi-year increase in business [34] Question: Revenue potential for the Propel GaN-on-Silicon tool - Company anticipates incremental business approaching $15 million from pilot line orders in 2026, with potential for additional orders in 2027 [36] Question: Gross margin expectations for Q1 and beyond - Company expects Q1 gross margins to be similar to Q4, with improvements anticipated in the second half of 2026 [40] Question: Impact of tariffs on gross margins - Company indicated that tariffs are expected to create a headwind of about 100 basis points compared to pre-tariff levels [43]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorporation o ...

VEECO REPORTS FOURTH QUARTER AND FISCAL YEAR 2025 FINANCIAL RESULTS Fourth Quarter 2025 Highlights: Fiscal Year 2025 Highlights: EXHIBIT 99.1 Guidance and Outlook The following guidance is provided for Veeco's first quarter 2026: The following guidance is provided for Veeco's fiscal year 2026: Conference Call Information Plainview, N.Y., February 25, 2026 -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its fourth quarter and fiscal year ended December 31, 2025. Results are rep ...

Fourth Quarter 2025 Highlights: Revenue of $165.0 million, compared with $182.1 million in the same period last yearGAAP net income of $1.1 million, or $0.02 per diluted share, compared with $15.0 million, or $0.26 per diluted share in the same period last yearNon-GAAP net income of $14.7 million, or $0.24 per diluted share, compared with $24.2 million, or $0.41 per diluted share in the same period last year Fiscal Year 2025 Highlights: Revenue of $664.3 million, compared with $717.3 million in the same per ...

Core Viewpoint - Veeco Instruments Inc. is set to release its fourth quarter and full year 2025 financial results on February 25, 2026, after market close, followed by a conference call to discuss these results [1]. Group 1: Financial Results Announcement - The financial results for the fourth quarter and full year 2025 will be announced after the market closes on February 25, 2026 [1]. - A conference call to review the financial results will commence at 5:00 PM ET on the same day [1]. Group 2: Conference Call Participation - Participants can join the conference call by dialing 1-877-407-8029 (toll-free) or 1-201-689-8029 [2]. - A live webcast of the call will be available on Veeco's investor relations website [2]. - A replay of the webcast will be accessible starting at 8:00 PM ET on the same evening [2]. Group 3: Company Overview - Veeco Instruments Inc. is a manufacturer of semiconductor process equipment, specializing in technologies such as laser annealing, ion beam, MOCVD, single wafer etch & clean, and lithography [3]. - The company's equipment is designed to enhance performance, yield, and cost of ownership, positioning Veeco as a leader in its market segments [3].

Core Viewpoint - Axcelis Technologies and Veeco Instruments have received stockholder approval for their merger, valued at approximately $4.4 billion, aimed at creating a significant player in the semiconductor equipment industry, with completion expected in the second half of 2026 [1]. Company Overview - Axcelis, based in Beverly, Massachusetts, has over 45 years of experience in providing solutions for the semiconductor industry, specializing in ion implantation systems essential for integrated circuit manufacturing [2]. - Veeco, located in Plainview, New York, manufactures semiconductor process equipment, including technologies such as laser annealing, ion beam deposition, and metal organic chemical vapor deposition (MOCVD), which are critical for advanced semiconductor device fabrication and packaging [3]. Merger Details - The merger will see Veeco shareholders receive 0.3575 Axcelis shares for each Veeco share owned, resulting in Axcelis shareholders owning approximately 58% and Veeco shareholders about 42% of the merged entity [5]. - The combined company is expected to expand its total addressable market to over $5 billion, driven by growth in AI and related power solution demands [5]. - The merger is projected to make the new entity the fourth largest US wafer fabrication equipment supplier by revenue [6]. Financial Projections - The combined company anticipates annual run-rate cost synergies of $35 million within two years post-closing, with a significant portion expected to be realized in the first year [7]. - On a pro-forma basis for fiscal year 2024, the merged entity is projected to generate $1.7 billion in revenue, with a non-GAAP gross margin of 44% and an adjusted EBITDA of $387 million [7].

Core Viewpoint - Axcelis Technologies, Inc. has received approval from its stockholders for all proposals related to its pending merger with Veeco Instruments Inc. [1] Company Summary - The stockholder vote took place at a Special Meeting specifically convened for this purpose [1]