The stock may react positively to the strong 2026 guidance despite current year declines, particularly if investors believe in the company's ability to execute on AI-driven growth. Monitor the merger with Axcelis and actual execution against the ambitious 2026 targets.
Price Chart
Executive Summary
Veeco Instruments reported declining financial performance for Q4 and fiscal year 2025, with revenue down 9.4% YoY and non-GAAP EPS down 41.5% YoY. However, the company provided strong forward guidance for 2026, projecting revenue growth of 11.3-20.4% and non-GAAP EPS growth of 13.2-38.8%, driven by AI and high-performance computing demand. The company is also pursuing a merger with Axcelis.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $165.0 million, down from $182.1 million in Q4 2024
- Full year 2025 revenue was $664.3 million, down from $717.3 million in 2024
- Non-GAAP EPS for 2025 was $1.33, down from $1.74 in 2024
- Guidance for 2026 projects revenue of $740-$800 million and non-GAAP EPS of $1.50-$1.85
- Company cited strong bookings in semiconductor, compound semiconductor, and data storage markets
Financial Impact
Revenue declined by $53 million YoY, while non-GAAP EPS declined by $0.41 YoY. Forward guidance suggests potential revenue growth of $75.7-$135.7 million and non-GAAP EPS growth of $0.17-$0.52 in 2026.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Semiconductor | $476.6M | +2.1% |
| Compound Semiconductor | $59.6M | -23.1% |
| Data Storage | $39.2M | -60.3% |
| Scientific & Other | $88.9M | +19.8% |
Risk Factors
- Failure to achieve the aggressive 2026 guidance
- Integration risks from the Axcelis merger
- Continued competitive pressures in semiconductor equipment market
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-019672 |
| Document: veco-20260225xex99d2.htm | 0001104659-26-019672 |
| Document: veco-20260225x8k.htm | 0001104659-26-019672 |
| Document: 0001104659-26-019672-index-headers.html | 0001104659-26-019672 |
| Document: 0001104659-26-019672-index.html | 0001104659-26-019672 |
| Document: 0001104659-26-019672.txt | 0001104659-26-019672 |
Filters
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|---|---|---|---|---|---|
Aug 19, 2026 6w ago | Insider Cluster | $47.20 $41.41 | ▼ −12.27% | ▼ −12.27% | $57.38 (+21.57%) |
Jun 11, 2026 16w ago | Institutional Cluster | $71.55 $57.45 | ▲ +19.71% | ▲ +21.60% | $57.38 (+19.80%) |
Jun 10, 2026 16w ago | Insider Cluster | $71.55 $57.45 | ▼ −19.71% | ▼ −21.60% | $57.38 (−19.80%) |
Jun 10, 2026 16w ago | Insider Cluster | $71.55 $57.45 | ▼ −19.71% | ▼ −21.60% | $57.38 (−19.80%) |
May 27, 2026 18w ago | Insider Cluster | $59.13 $70.95 | ▲ +19.99% | ▲ +23.13% | $57.38 (−2.96%) |
May 18, 2026 19w ago | Insider Cluster | $54.69 $75.78 | ▼ −38.56% | ▼ −37.58% | $57.38 (−4.92%) |
May 7, 2026 21w ago | Insider Cluster | $57.72 $60.46 | ▼ −4.75% | ▼ −1.61% | $57.38 (+0.59%) |
May 5, 2026 21w ago | 8-K | $62.01 $60.46 | ▲ +2.50% | ▲ +5.28% | $57.38 (+7.47%) |
Apr 21, 2026 23w ago | Press Release | $50.37 $54.69 | ▲ +8.58% | ▲ +5.41% | $57.38 (+13.92%) |
Mar 19, 2026 28w ago | DEFA14A | $30.65 $46.73 | ▲ +52.46% | ▲ +43.14% | $57.38 (+87.21%) |
US Market Status
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