Revenue: As of FY2025, the actual value is USD 664.29 M, beating the estimate of USD 663.44 M.EPS: As of FY2025, the actual value is USD 0.59, missing the estimate of USD 0.6.EBIT: As of FY2025, the actual value is USD 31.37 M.<h3>Segment Revenue</h3><ul><li>Semiconductor: Revenue increased by 2% to $476,559 thousand in 2025 (72% of total net sales), from $466,611 thousand in 2024. </li><li>Compound Semiconductor: Revenue decreased by -23% to $59,557 thousand in 2025 (9% of total net sales), from $77,591 thousand in 2024. </li><li>Data Storage: Revenue decreased by -60% to $39,238 thousand in 2025 (6% of total net sales), from $98,852 thousand in 2024. </li><li>Scientific &amp; Other: Revenue increased by 20% to $88,940 thousand in 2025 (13% of total net sales), from $74,247 thousand in 2024. </li></ul><h3>Operational Metrics</h3><ul><li>Total Net Sales: Total net sales for Veeco Instruments Inc. decreased by - $53,007 thousand (-7%) to $664,294 thousand in 2025, from $717,301 thousand in 2024. </li><li>Gross Profit: Gross profit decreased by - $38,596 thousand (-13%) to $265,409 thousand in 2025, from $304,005 thousand in 2024. </li><li>Gross Margin: Gross margin was 40% in 2025, down from 42% in 2024. </li><li>Operating Expenses (R&amp;D): R&amp;D expenses decreased by - $4,866 thousand (-4%) to $119,641 thousand in 2025, from $124,507 thousand in 2024. </li><li>Operating Expenses (SG&amp;A): SG&amp;A expenses remained consistent at $98,906 thousand in 2025, compared to $99,663 thousand in 2024. </li><li>Operating Expenses (Amortization): Amortization expense decreased by - $3,847 thousand (-55%) to $3,136 thousand in 2025, from $6,983 thousand in 2024. </li><li>Merger Costs: Veeco Instruments Inc. incurred $8,908 thousand in merger costs in 2025. </li><li>Asset Impairment: No asset impairment charges were recorded in 2025, compared to $28,131 thousand in 2024. </li><li>Operating Income: Operating income decreased by - $31,274 thousand (-47%) to $35,707 thousand in 2025, from $66,981 thousand in 2024. </li><li>Net Income: Net income was $35,390 thousand in 2025, compared to $73,714 thousand in 2024. </li></ul><h3>Cash Flow</h3><ul><li>Net Cash Provided by Operating Activities: Net cash provided by operating activities was $69,493 thousand in 2025, compared to $63,815 thousand in 2024. </li><li>Net Cash Used in Investing Activities: Net cash used in investing activities was - $41,478 thousand in 2025, compared to - $64,547 thousand in 2024. </li><li>Net Cash Used in Financing Activities: Net cash used in financing activities was - $10,469 thousand in 2025, compared to - $12,579 thousand in 2024. </li></ul><h3>Unique Metrics</h3><ul><li>Backlog: Backlog was $554.9 million at December 31, 2025, compared to $409.6 million at December 31, 2024. </li><li>Sales and Service Revenue: This revenue represented approximately 25% of net sales in 2025 (20% in 2024), with parts and upgrade sales at approximately 19% (15% in 2024) and service and support sales at 6% (5% in 2024). </li><li>Inventories: Total inventories were $275,298 thousand at December 31, 2025, compared to $246,735 thousand at December 31, 2024. </li></ul><h3>Outlook / Guidance</h3>Veeco Instruments Inc. anticipates growth in the semiconductor market, driven by leading-edge investment, new nodes, and AI-related demand, including Gate-All-Around nodes, High-Bandwidth Memory, and 3D packaging for AI. The company expects revenue growth in the Compound Semiconductor and Data Storage markets in 2026, principally in the second half, due to recent order activity. The proposed merger with Axcelis Technologies, Inc. is projected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.

Veeco Instruments | 10-K: FY2025 Revenue Beats Estimate at USD 664.29 M