Veeco Q4 Revenue Drops 9.4%; Anticipates $740–$800M in FY 2026
Veeco reported Q4 revenue of $165 million down from $182.1 million last year with GAAP net income sliding to $1.1 million ($0.02 per share) from $15.0 million. It forecasts fiscal 2026 revenue of $740–$800 million and non-GAAP EPS of $1.50–$1.85, driven by AI and HPC demand.
1. Fourth Quarter and Fiscal 2025 Results
Veeco recorded fourth quarter revenue of $165.0 million, down 9.4% year-over-year, with GAAP net income of $1.1 million ($0.02 per diluted share) versus $15.0 million ($0.26 per share) last year. Non-GAAP net income declined to $14.7 million ($0.24 per share) from $24.2 million ($0.41 per share).
2. Fiscal 2026 Guidance
For the first quarter of 2026, Veeco expects revenue between $150 million and $170 million with GAAP diluted EPS of –$0.03 to $0.07 and non-GAAP EPS of $0.14 to $0.24. Full-year revenue guidance is set at $740 million to $800 million with non-GAAP EPS projected at $1.50 to $1.85.
3. Strategic Outlook and Merger
Management highlighted accelerated bookings in semiconductor, compound semiconductor and data storage markets during 2025, driven by AI and high-performance computing demand. The planned merger with Axcelis and expanding backlog are expected to support robust growth and strategic value creation in 2026 and beyond.