Veeco Instruments Inc. has reported its financial results for the third quarter ended September 30, 2025. The company delivered solid performance amid continued demand in semiconductor markets, particularly those driven by artificial intelligence and high-performance computing applications.

According to U.S. generally accepted accounting principles (GAAP), Veeco reported revenue of $165.9 million for the third quarter of 2025, compared to $184.8 million in the same period last year. GAAP net income for the quarter was $10.6 million, or $0.17 per diluted share, down from $22.0 million or $0.36 per diluted share in Q3 2024.

On a non-GAAP basis, the company reported operating income of $23.1 million, compared to $31.0 million a year earlier. Non-GAAP net income for the quarter was $21.8 million, or $0.36 per diluted share, compared to $28.3 million or $0.46 per diluted share in the third quarter of 2024.

“Veeco’s strong financial results this quarter reflect continued momentum in the semiconductor market driven by AI and high-performance computing,” said Bill Miller, Ph.D., Chief Executive Officer of Veeco. “We are also excited about new product traction in our MOCVD business. We have won multiple orders for our 300 mm gallium nitride single wafer and arsenide phosphide batch systems.”

Dr. Miller also noted the strategic importance of the pending merger with Axcelis Technologies, Inc., which is expected to broaden Veeco’s technology portfolio and expand market opportunities. “The merger marks a significant step to better serve our customers and to deliver long-term value through an enhanced product offering and scale,” he added.

Outlook for Q4 2025

For the fourth quarter of 2025, Veeco expects:

  • Revenue in the range of $155 million to $175 million
  • GAAP diluted earnings (loss) per share in the range of ($0.07) to $0.05
  • Non-GAAP diluted earnings per share in the range of $0.16 to $0.32

Veeco remains focused on executing its strategic initiatives and leveraging its technology leadership in compound semiconductors, wafer processing, and emerging growth markets.

Original – Veeco Instruments