Veeco Instruments Stock Earnings Reports

Veeco delivered Q1 2026 revenue of $158M, non-GAAP operating income of $9M and non-GAAP EPS of $0.14, all within guidance. Management highlighted continued momentum from AI-driven demand across logic, memory, advanced packaging, compound semiconductors (notably silicon photonics / indium phosphide lasers), and data storage. The company announced over $250M of orders for MOCVD, wet processing and SPECTOR Ion Beam Deposition tools to support indium phosphide laser manufacturing, with shipments beginning in Q3 2026 and a major ramp expected in Q1 2027. Veeco is expanding manufacturing capacity (including plans to ~10x SPECTOR IBD capacity by early 2027 and additional wet-processing capacity) to meet multi-year demand and increased order visibility into 2027. Regional mix: Asia ex-China ~57%, U.S. ~20%, China ~13%. Balance sheet: cash and short-term investments of $383M; AR and inventory increased. Q2 2026 outlook: revenue $170–190M, gross margin 38–40%, OpEx $52–55M, EPS $0.20–0.32 (64M shares). Full-year 2026 guidance reiterated: revenue $740–800M and non-GAAP diluted EPS $1.50–1.85. The proposed merger with Axcelis is approved by shareholders and all regulators except China antitrust; closing expected in H2 2026. Key investor takeaways: strong AI-driven secular tailwinds, meaningful new indium phosphide market exposure with large orders, capacity expansion to support 2027 ramp, healthy near-term guidance with upside tied to semiconductor systems delivery and further orders, and typical execution/market risks including China regulatory and customer lead times.