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Dec 31, 2025
Veeco Q4 2025 Earnings Report
Veeco reported fourth quarter 2025 financial results with revenue of $165.0 million and GAAP net income of $1.1 million.
Key Takeaways
Veeco experienced a year-over-year decline in Q4 revenue and net income but highlighted strong bookings in the second half of the year. The company is focusing on growth driven by AI and High-Performance Computing and has announced a planned merger with Axcelis.
Q4 revenue reached $165.0 million, down from $182.1 million in the prior year period.
GAAP net income decreased significantly to $1.1 million compared to $15.0 million in Q4 2024.
The company announced a planned merger with Axcelis to create long-term strategic value.
Management noted accelerating bookings in semiconductor and data storage markets during the second half of 2025.
Forward Guidance
Veeco provided guidance for Q1 2026 and the full fiscal year 2026, projecting significant revenue growth for the full year.
Positive Outlook
- Full year 2026 revenue expected to grow to between $740 million and $800 million.
- Full year 2026 Non-GAAP EPS projected between $1.50 and $1.85.
- Anticipated robust growth driven by AI and High-Performance Computing.
- Expanding backlog and growing customer adoption of new technologies.
- Planned merger with Axcelis expected to accelerate growth.
Challenges Ahead
- Q1 2026 GAAP results may range from a loss of $0.03 to a profit of $0.07 per share.
- Q1 2026 revenue guidance of $150M-$170M is lower than Q4 2025 actuals.
- Ongoing global trade issues and disputes between the U.S. and China.
- Potential disruptions and diversion of management time due to the pending merger.
Historical Earnings Impact
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