VEECO INSTRUMENTS INC (VECO) FY2025 10-K Annual Report
VEECO INSTRUMENTS INC (VECO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
VEECO INSTRUMENTS INC FY2025 10-K Analysis
Business Overview
- • Core business: Manufacturer of advanced semiconductor process equipment for AI chips, 5G, photonics, data storage, and advanced packaging markets
- • New emphasis on Merger with Axcelis Technologies, Inc. announced Sept 2025, pending regulatory approval, expected to make Veeco a subsidiary
Management Discussion & Analysis
- • Revenue $664.3M, down 7% YoY from $717.3M; Semiconductor up 2% to $476.6M, Compound Semiconductor down 23%, Data Storage down 60%
- • Operating margin 5.4% in 2025 vs 9.3% in 2024; Gross margin 40% down from 42%; Operating income $35.7M vs $67.0M prior year
Risk Factors
- • Regulatory risk: U.S. Export Administration Regulations restrict sales to China with export licenses now presumed denied, impacting revenue and shipments to key customers
- • Geopolitical risk: Russia-Ukraine conflict threatens supply of critical neon and palladium, requiring longer purchase commitments for semiconductor raw materials
VEECO INSTRUMENTS INC FY2025 Key Financial MetricsXBRL
Revenue
$664M
▼ -7.4% YoY
Net Income
$35M
▼ -52.0% YoY
Gross Margin
40.0%
▼ -243bp YoY
Operating Margin
5.4%
▼ -396bp YoY
Net Margin
5.3%
▼ -495bp YoY
ROE
4.0%
▼ -557bp YoY
Total Assets
$1.3B
▲ +5.9% YoY
EPS (Diluted)
$0.59
▼ -52.0% YoY
Operating Cash Flow
$69M
▲ +8.9% YoY
Source: XBRL data from VEECO INSTRUMENTS INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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