Veeco reported a decrease in revenue and net income for the third quarter of 2025 compared to the same period last year. Despite the decline, the company highlighted strong financial results driven by momentum in the semiconductor market, particularly in AI and High-Performance Computing, and new product traction in its MOCVD business. The pending merger with Axcelis is also a significant strategic move to expand technology and market opportunities.
Revenue for Q3 2025 was $165.9 million, a decrease from $184.8 million in Q3 2024.
GAAP net income for Q3 2025 was $10.6 million, or $0.17 per diluted share, down from $22.0 million, or $0.36 per diluted share, in Q3 2024.
Non-GAAP net income for Q3 2025 was $21.8 million, or $0.36 per diluted share, compared to $28.3 million, or $0.46 per diluted share, in Q3 2024.
The company is experiencing continued momentum in the semiconductor market, driven by AI and High-Performance Computing, and has secured multiple orders for new MOCVD products.
For the fourth quarter of 2025, Veeco expects revenue to be between $155 million and $175 million. GAAP diluted earnings per share are projected to range from ($0.07) to $0.05, while Non-GAAP diluted earnings per share are expected to be between $0.16 and $0.32.
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