Veeco Instruments (VECO) Investor presentation summary

Company overview and strategy

• Global provider of semiconductor capital equipment with $664M in 2025 revenue and ~1,300 employees.

• Holds ~350 patents and focuses on solving high-value materials challenges for customers.

• Strong history in data storage, compound semiconductors, and differentiated technologies for advanced chips.

• Growth focus on semiconductor and compound semiconductor markets, driven by leading-edge customers.

Market opportunities and technology

• Served available market (SAM) projected to grow to $5.6B by 2030, with semiconductor segment reaching $3.0B and compound semiconductor $2.0B.

• Key technologies include Laser Spike Annealing (LSA), Nanosecond Annealing (NSA), and Ion Beam Deposition (IBD) for advanced chip manufacturing.

• NSA and IBD enable new applications in logic and memory, supporting industry trends like AI and high-bandwidth memory.

• Compound semiconductor growth driven by silicon photonics, GaN power, and InP lasers, with projected 15% CAGR.

Financial performance and outlook

• Revenue grew from $454M in 2020 to $664M in 2025, with semiconductor revenue CAGR of ~23%.

• Q1 2026 revenue was $158M, with 69% from semiconductor, 12% compound semiconductor, and 13% scientific & other.

• Q1 2026 non-GAAP gross margin was 36.2%, operating income $8.6M, and diluted EPS $0.14.

• FY 2026 guidance: revenue $740M–$800M, non-GAAP gross margin 41%–43%, non-GAAP diluted EPS $1.50–$1.85.