Veeco Instruments Inc. reported financial results for the fourth quarter and fiscal year ended December 31, 2025, with management highlighting accelerated bookings in the second half of the year and positioning for growth in 2026 driven by AI and high-performance computing (HPC).

Fourth Quarter 2025 Highlights

  • Revenue: $165.0 million, compared with $182.1 million in Q4 2024
  • GAAP Net Income: $1.1 million, or $0.02 per diluted share, compared with $15.0 million, or $0.26 per diluted share, in Q4 2024
  • Non-GAAP Net Income: $14.7 million, or $0.24 per diluted share, compared with $24.2 million, or $0.41 per diluted share, in Q4 2024

Fiscal Year 2025 Highlights

  • Revenue: $664.3 million, compared with $717.3 million in fiscal 2024
  • GAAP Net Income: $35.4 million, or $0.59 per diluted share, compared with $73.7 million, or $1.23 per diluted share, in 2024
  • Non-GAAP Net Income: $80.2 million, or $1.33 per diluted share, compared with $104.3 million, or $1.74 per diluted share, in 2024

On a non-GAAP basis, fourth-quarter operating income was $13.8 million, compared with $27.4 million in the prior-year period. For the full year, non-GAAP operating income was $84.3 million versus $116.1 million in 2024.

CEO Bill Miller said Veeco “executed well in 2025,” noting accelerated bookings in the second half across semiconductor, compound semiconductor and data storage markets. He said expanding backlog, increasing adoption of new technologies and the planned merger with Axcelis position the company for robust growth in 2026.

For the first quarter of 2026, Veeco expects:

  • Revenue in the range of $150 million to $170 million
  • GAAP diluted EPS between ($0.03) and $0.07
  • Non-GAAP diluted EPS between $0.14 and $0.24

For full-year 2026, Veeco expects:

  • Revenue between $740 million and $800 million
  • GAAP diluted EPS between $0.83 and $1.17
  • Non-GAAP diluted EPS between $1.50 and $1.85

The company said it believes continued momentum in AI and HPC markets, combined with strategic initiatives including the planned merger with Axcelis, will support long-term growth and value creation.

Original – Veeco Instruments