Veeco Reports Third Quarter 2026 Financial Results

(NASDAQ: VECO) Veeco Instruments Inc. announced its financial results for the third quarter ended September 30, 2026, reporting both GAAP and Non-GAAP figures. GAAP revenue for Q3 2026 was $209.4 million, compared to $165.9 million in Q3 2025. GAAP net income for Q3 2026 was $13.6 million, up from $10.6 million in the prior year period. GAAP diluted earnings per share for Q3 2026 were $0.21, compared to $0.17 in Q3 2025. Non-GAAP operating income for Q3 2026 was $25.2 million, versus $23.1 million in Q3 2025. Non-GAAP net income for Q3 2026 was $24.1 million, compared to $21.8 million in Q3 2025. Non-GAAP diluted earnings per share for Q3 2026 and Q3 2025 were both $0.36. Bill Miller, Ph.D., Chief Executive Officer, stated that AI infrastructure investment is accelerating technology transitions and driving customer engagement and order activity. Veeco provided guidance for Q4 2026, expecting revenue in the range of $230 million to $260 million. GAAP diluted earnings per share for Q4 2026 are expected to be between $0.34 and $0.53, while Non-GAAP diluted earnings per share are expected to be between $0.50 and $0.70. Revised guidance for fiscal year 2026 projects revenue between $790 million and $820 million. Fiscal year 2026 GAAP diluted earnings per share are expected in the range of $0.72 to $0.92, and Non-GAAP diluted earnings per share are expected in the range of $1.32 to $1.52. The company held a conference call on November 4, 2026, at 5:00pm ET to discuss these results. For the three months ended September 30, 2026, gross profit was $80.4 million and gross margin was 38.4%. Operating expenses for the quarter were $66.3 million, including $2.3 million in merger costs. Operating income for Q3 2026 was $14.1 million. As of September 30, 2026, cash and cash equivalents were $205.3 million, and short-term investments were $277.2 million. Total assets at quarter end were $1,505.7 million, with total liabilities of $581.7 million and total stockholders’ equity of $923.9 million. Long-term debt stood at $226.8 million. Non-GAAP adjustments for Q3 2026 included $1.4 million in share-based compensation, $411,000 in amortization, and $2.3 million in merger-related expenses. The company’s Non-GAAP net income per diluted share for Q3 2026 was $0.36. For Q3 2025, Non-GAAP adjustments included $1.8 million in share-based compensation, $771,000 in amortization, and $2.6 million in merger-related expenses. Veeco is an innovative manufacturer of semiconductor process equipment, with technologies including laser annealing, ion beam, MOCVD, single wafer etch & clean, and lithography.