VECO on Nasdaq

Veeco

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons5

American manufacturing company

Veeco Instruments Inc. is an American capital equipment supplier, headquartered in Plainview, New York that designs and builds processing systems used in semiconductor and compound semiconductor manufacturing, data storage and scientific markets for applications such as advanced packaging, photonics, power electronics and display technologies.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

1945Founded1

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  • TickerVECO on Nasdaq1
  • Industryindustrial manufacturing1
  • HeadquartersPlainview1
  • Websitewww.veeco.com/company/default.aspx
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business addressTerminal Drive, Plainview, Ny 118036
  • Filer categoryLarge accelerated filer6
  • LEI5493004201F72ADDZW044
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered address251 LITTLE FALLS DRIVE, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 22043924

Veeco Instruments Inc. is an American capital equipment supplier, headquartered in Plainview, New York that designs and builds processing systems used in semiconductor and compound semiconductor manufacturing, data storage and scientific markets for applications such as advanced packaging, photonics, power electronics and display technologies.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

40.0%Gross margin8
5.4%Operating margin8
5.3%Net margin8
-7.4%Revenue growth, 20258
4.0%Return on equity8
0.26×Debt to equity8
$53.3MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Semiconductor brought in 72% of the revenue Veeco broke down this way in fiscal 2025.

  1. Semiconductor$476.6M872%up 2% from 2024
  2. Scientific And Other$88.9M813%up 20% from 2024
  3. Compound Semiconductor$59.6M89%down 23% from 2024
  4. Data Storage$39.2M86%down 60% from 2024
Products and services by year
Products and services202320242025
Semiconductor$412.7M$466.6M$476.6M
Scientific And Other$78.0M$74.2M$88.9M
Compound Semiconductor$87.3M$77.6M$59.6M
Data Storage$88.5M$98.9M$39.2M

Regions

Asia Pacific Excluding China brought in 50% of the revenue Veeco broke down this way in fiscal 2025.

  1. Asia Pacific Excluding China$330.2M850%up 41% from 2024
  2. China$181.8M827%down 29% from 2024
  3. United States$101.4M815%down 38% from 2024
  4. EMEA$50.8M88%down 18% from 2024
  5. Rest Of World$118.0K80%down 85% from 2024
Regions by year
Regions202320242025
Asia Pacific Excluding China$208.7M$234.6M$330.2M
China$217.9M$255.6M$181.8M
United States$162.8M$164.6M$101.4M
EMEA$76.7M$61.7M$50.8M
Rest Of World$313.0K$797.0K$118.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue60¢$398.9M
  • Research and development18¢$119.6M
  • Selling, general and admin15¢$98.9M
  • Other costs1¢$7.5M
  • Income tax1¢$4.0M
  • Profit5¢$35.4M

Out of $664.3M in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending23¢$16.2M
  • Kept or used elsewhere77¢$53.3M

Out of $69.5M of cash from operations.8

Financial statements

Revenue91011128$664.3M in 2025+58% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $419.3M$419.3M20192020: $454.2M$454.2M2020+8%2021: $583.3M$583.3M2021+28%2022: $646.1M$646.1M2022+11%2023: $666.4M$666.4M2023+3%2024: $717.3M$717.3M2024+8%2025: $664.3M$664.3M2025−7%
Gross profit91011128$265.4M in 2025+68% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $158.2M$158.2M20192020: $194.3M$194.3M2020+23%2021: $242.3M$242.3M2021+25%2022: $263.1M$263.1M2022+9%2023: $285.1M$285.1M2023+8%2024: $304.0M$304.0M2024+7%2025: $265.4M$265.4M2025−13%
Operating income91011128$35.7M in 2025
-$50.0M0$50.0M$100.0M2019: -$39.6M-$39.6M20192020: $22.6M$22.6M20202021: $56.7M$56.7M2021+151%2022: $60.3M$60.3M2022+6%2023: $69.9M$69.9M2023+16%2024: $67.0M$67.0M2024−4%2025: $35.7M$35.7M2025−47%
Net income91011128$35.4M in 2025
-$100.0M0$100.0M$200.0M2019: -$78.7M-$78.7M20192020: -$8.4M-$8.4M2020−89%2021: $26.0M$26.0M20212022: $166.9M$166.9M2022+541%2023: -$30.4M-$30.4M20232024: $73.7M$73.7M20242025: $35.4M$35.4M2025−52%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Net sales$664.3M$717.3M$666.4M
Cost of sales$398.9M$413.3M$381.4M
Gross profit$265.4M$304.0M$285.1M
Research and development$119.6M$124.5M$112.9M
Selling, general, and administrative$98.9M$99.7M$92.8M
Amortization of intangible assets$3.1M$7.0M$8.5M
Merger costs$8.9M
Asset impairment$28.1M
Other operating expense (income), net-$889.0K-$22.3M$1.0M
Total operating expenses, net$229.7M$237.0M$215.1M
Operating income$35.7M$67.0M$69.9M
Interest income$13.5M$12.9M$10.6M
Interest expense-$9.1M-$11.0M-$11.8M
Other income (expense), net-$653.0K-$97.1M
Income (loss) before income taxes$39.4M$68.8M-$28.3M
Income tax expense (benefit)$4.0M-$4.9M$2.0M
Net income (loss)$35.4M$73.7M-$30.4M
Basic (in dollars per share)$0.60$1.31-$0.56
Diluted (in dollars per share)$0.59$1.23-$0.56
Basic (in shares)59.3M shares56.4M shares53.8M shares
Diluted (in shares)60.6M shares61.6M shares53.8M shares

Compare Veeco with another company

The story

Veeco was incorporated in 1945 by two scientists, Frank Raible and Al Nerken, who created the helium leak detector. The company's name "Veeco" stood for Vacuum Electronic Equipment Company. In the 1960s, the original Veeco merged with Lambda, a manufacturer of power supplies, and in the late 1980s, was purchased by British company Unitech.

In 1990, Edward H. Braun, then COO of Veeco, and a group of senior company executives purchased Veeco's instrument business from Unitech in a management buyout. The company again used the Veeco Instruments trade name and completed an initial public offering on the Nasdaq National Market in 1994 (NASDAQ: VECO). The IPO netted the company $27.5 million.

Since going public in 1994, Veeco has completed more than a dozen acquisitions. The company purchased Ion Tech Inc. in 1999 and entered the optical coating market.

In 2001, Veeco purchased Applied EPI, its present-day Molecular Beam Epitaxy group that currently maintains a leadership position in MBE technology worldwide.

In 2003, Veeco purchased Emcore, paving the way for its unique metal organic chemical vapor deposition technologies in the advanced LED, Vertical-cavity surface-emitting laser (VCSEL) and photonics markets.

From 2007 to 2018, Veeco invested heavily in ALD research, publishing numerous papers on the topic.

In July 2007, Braun, then 68, became chairman of the board of Veeco, with John R. Peeler, 52, joining the company as chief executive officer. Peeler was formerly president of JDSU's Communications Test and Measurement Division

In 2008, Veeco settled a patent litigation it had brought against Asylum Research Corporation in 2003.

Read the full text

In October 2010, Veeco announced the sale of its metrology business to Bruker Corporation in a cash deal for $229.4 million.

In May 2012, John Peeler became chairman of the board of Veeco.

In 2014, Veeco purchased Solid State Equipment Co., expanding its portfolio of solvent-based wet etch and clean technologies for semiconductor and compound semiconductor markets.

On May 26, 2017, Veeco acquired front-end semiconductor process control equipment manufacturer Ultratech to expand into the advanced packaging market. This added to the portfolio advanced packaging lithography, laser spike annealing and 3D wafer inspection technology used in high volume manufacturing of logic and memory devices. Via the Ultratech purchase, Veeco also acquired Cambridge Nanotech, a Boston-based innovator in atomic layer deposition technology.

In October 2018, Bill Miller was named CEO. Miller previously served as president and has led several growth initiatives within Veeco's business units and operations teams worldwide.

In May 2020, changes were made to governance to bring more gender diversity to the board of directors. John Peeler, chairman and former CEO, retired from the board. Richard D’Amore, general partner of North Bridge Venture Partners and previously lead independent director, was appointed as chairman; and Mary Jane Raymond, chief financial officer and treasurer of II-VI Inc., was appointed to the Audit Committee.

In 2020, Veeco succeeded in strengthening its profitability by optimizing R&D and extending core technologies into semiconductor and compound semiconductor markets.

In 2021, Veeco shipped its first LSA101 Laser Spike Annealing System from its facility in San Jose, California facility to a leading semiconductor manufacturer.

In February 2023, it was announced Veeco had acquired the Lund-headquartered manufacturer of CVD epitaxy systems - which enables advanced SiC applications in the electric vehicle market, Epiluvac AB.

In October 2025, Veeco and Axcelis Technologies agreed to merge in an all-stock transaction valued at approximately $4.4 billion, with Axcelis shareholders owning about 58% and Veeco shareholders about 42% of the combined company.

From Wikipedia’s article on Veeco, shared under CC BY-SA 4.0.7

Leadership

Who has led Veeco, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (33)

Products and brands

Markets

Veeco specializes in thin film process equipment for major technology market sectors, including:

Semiconductor

Compound semiconductor

Data storage

Read the full text

Scientific

Advanced packaging

MEMS and RF filters

Veeco systems are used for advanced materials deposition processes, cleaning and surface preparation, as well as the removal of critical materials. High tech manufacturers that purchase Veeco systems produce devices in high volumes. They also use them to develop next-generation products with the intent of making them more efficient, more cost effective and more advanced.

Products

Front end of line (FEOL) semiconductor systems include:

Laser spike annealing systems for precision doping of materials at a controlled temperature

Ion beam etch tools used in spin torque transfer magnetic random access memory ("STT-MRAM") applications. STT-MRAM has many benefits over traditional random access memory such as its non-volatility, speed, endurance and power consumption.

Atomic layer deposition (ALD) tools for semiconductor, solar and medical devices applications. Veeco is one of the key players in the global ALD market.

Advanced packaging systems include:

Lithography tools used for copper pillar, fan-out wafer-level packaging (FOWLP) through-silicon via (TSV) and silicon interposer applications

Wet etch tools for under-bump metallization and redistribution layer applications

Wet-solvent-based surface preparation tools for photoresist and dry film removal, flux cleaning, particle removal and TSV clean applications

Systems used in the manufacturing of MEMS devices and RF filters include:

Wet etch tools for etching thin films on substrates and sometimes the substrates themselves.

Single-wafer wet clean systems that use a soak-and-spray approach for metal lift-off. This is used in MEMS and compound semiconductor applications. This tool was part of the SSEC acquisition.

MBE and ion beam etch tools used to perform ion beam lithography in the manufacture of electroacoustic filters such as bulk acoustic wave ("BAW") and surface acoustic wave ("SAW") RF filters.

Systems used for compound semiconductor applications:

Veeco's MOCVD tools are used for the deposition of III-V compound semiconductor materials like indium phosphide (InP), gallium arsenide (GaAs) and gallium nitride (GaN) in a single crystal layer to form a thin film.

It is used for depositing highly uniform arsenide and phosphide ("As/P") films to create amber and red output colors in LEDs.

Emerging applications for MOCVD include mini-LEDs, and micro-LEDS used in LED-backlit displays. It is also expected to enable VCSELs used for facial recognition applications, as well as GaN-based RF and power semiconductor devices.

Systems used for advanced materials research and industrial applications

Veeco MBE systems are used by scientific research organizations and universities as part of materials science discovery.

At the Nanolab at Eindhoven University of Technology, a Veeco MBE reactor is used to grow epitaxial layers for GaAs-based materials.

At Tufts University, the Veeco GEN Xplore enables the growth of small bandgap materials. https://engineering.tufts.edu/epitaxycore/capabilities/molecular-beam-epitaxy

MBE, wet etch and clean systems are also used to manufacture high power lasers and infrared sensors.

IBD, IBE, PVD, and lapping and dicing tools are used in data storage applications such as hard disk drives. IBD tools deposit thin layers of advanced materials on various substrates to alter how light is reflected and transmitted.

Technology breakthroughs

Veeco has invested in ALD research and supports an ALD science research team, which has published numerous papers on the topic between 2007 and 2018.

For solar cell applications, in 2010, Veeco MOCVD developed a tool that increased cell growth rates resulting in higher throughput without compromising performance.

Facilities

Headquartered in Plainview, New York, Veeco has 15 locations in 11 countries, including:

Somerset, NJ

Horsham, PA

Waltham, MA

San Jose, CA

St. Paul, MN

Munich, Germany

Shanghai, China

Tokyo, Japan

Seoul, Korea

Hsinchu, Taiwan

Bangkok, Thailand

Laguna, Philippines

Singapore

Penang, Malaysia

Lund, Sweden

From Wikipedia’s article on Veeco, shared under CC BY-SA 4.0.7

Timeline

  1. Jul 3, 2007New chief executive John R. Peeler becomes CEO16
  2. Jul 30, 2004New chief executive Edward H. Braun becomes CEO17
  3. 1945Founded Founded1

Filings

380 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 46 major events, 206 insider forms, 29 large holders, 79 other. The latest 20:

  1. Aug 19, 20264 EDGAR
  2. Aug 17, 2026144 EDGAR
  3. Aug 14, 20264 EDGAR
  4. Aug 12, 20264 EDGAR
  5. Aug 12, 2026S-8 EDGAR
  6. Aug 10, 2026144 EDGAR
  7. Aug 5, 202610-Q EDGAR
  8. Aug 5, 20268-K EDGAR
  9. Jun 12, 20264 EDGAR
  10. Jun 11, 2026144 EDGAR
  11. Jun 10, 20264 EDGAR
  12. Jun 10, 20264 EDGAR
  13. Jun 9, 2026144 EDGAR
  14. Jun 9, 2026144 EDGAR
  15. Jun 8, 20264 EDGAR
  16. Jun 4, 2026144 EDGAR
  17. Jun 2, 20264 EDGAR
  18. Jun 2, 2026144 EDGAR
  19. May 29, 2026SD EDGAR
  20. May 28, 20264 EDGAR

The 380 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

63 open-market trades by officers, directors and large owners since October 2021: 3 buys and 60 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 17, 2026Miller William JohnCEOSale200,000$54.18$10.8MForm 4
Aug 10, 2026KIERNAN JOHN PSVP & CHIEF FINANCIAL OFFICERSale35,000$51.05$1.8MForm 4
Jun 11, 2026Wilkerson SusanSVP, GLOBAL SALES & SERVICESale15,506$69.56$1.1MForm 4
Jun 9, 2026Devasahayam AdrianSVP - PRODUCT LINE DEVELOPMENTSale10,000$65.00$650.0KForm 4
Jun 9, 2026HUNTER GORDONDirectorSale16,974$68.80$1.2MForm 4
Jun 4, 2026HUNTER GORDONDirectorSale6,752$63.78$430.6KForm 4
Jun 2, 2026Miller William JohnCEOSale50,000$58.62$2.9MForm 4
May 26, 2026Devasahayam AdrianSVP - PRODUCT LINE DEVELOPMENTSale5,407$61.84$334.4KForm 4
May 26, 2026Wilkerson SusanSVP, GLOBAL SALES & SERVICESale35,723$61.69$2.2MForm 4
May 26, 2026HUNTER GORDONDirectorSale17,714$61.61$1.1MForm 4
May 14, 2026DAMORE RICHARD ADirectorSale43,701$60.71$2.7MForm 4
May 12, 2026HUNTER GORDONDirectorSale29,532$59.41$1.8MForm 4
May 11, 2026St Dennis ThomasDirectorSale1,400$61.93$86.7KForm 4
May 8, 2026HUNTER GORDONDirectorSale7,746$58.76$455.2KForm 4
May 7, 2026Miller William JohnCEOSale100,000$59.55$6.0MForm 4
Mar 3, 2026Miller William JohnCEOSale50,000$31.62$1.6MForm 4
Dec 10, 2025Wilkerson SusanSVP, GLOBAL SALES & SERVICESale33,000$31.88$1.1MForm 4
Dec 5, 2025Miller William JohnCEOSale25,000$32.00$800.0KForm 4
Dec 2, 2025Miller William JohnCEOSale25,000$29.10$727.5KForm 4
Oct 2, 2025Devasahayam AdrianSVP - PRODUCT LINE DEVELOPMENTSale3,851$34.00$130.9KForm 4

All 63 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.9,605,897$728.1M0.0%+197,860
Fmr LLC9,060,918$686.8M0.0%+79,878
Vanguard Portfolio Management LLC4,716,340$357.5M0.0%+32,614
Neuberger Berman Group LLC3,651,115$274.8M0.2%+200,453
Vanguard Capital Management LLC2,603,088$197.3M0.0%−41,545
State Street Corp2,590,279$196.3M0.0%+111,593
Paradigm Capital Management Inc/ny2,065,399$156.6M4.3%−106,000
Manufacturers Life Insurance Company, The1,773,530$134.4M0.1%−698,271
Fisher Asset Management, LLC1,688,069$128.0M0.0%−481,440
Geode Capital Management, LLC1,650,315$125.1M0.0%+60,987
Dimensional Fund Advisors LP1,637,725$124.1M0.0%−736,567
Franklin Resources Inc1,147,664$87.0M0.0%+1,111,633
Westwood Holdings Group Inc1,069,719$81.1M0.6%−1,037,928
UBS Group AG1,047,712$79.4M0.0%+451,399
First Eagle Investment Management, LLC927,706$70.3M0.1%+536,325
Two Sigma Investments, LP911,102$69.1M0.1%+88,389
Barrow Hanley Mewhinney & Strauss LLC868,548$65.8M0.2%+868,307
Needham Investment Management LLC845,850$64.1M1.9%−34,150
Millennium Management LLC766,219$58.1M0.0%+90,753
Northern Trust Corp764,470$57.9M0.0%−14,699
Wellington Management Group Llp761,575$57.7M0.0%New
Davidson Kempner Capital Management LP750,000$56.9M1.4%New
Charles Schwab Investment Management Inc657,042$49.8M0.0%+29,810
Goldman Sachs Group Inc634,204$48.1M0.0%−421,491
Morgan Stanley594,552$45.1M0.0%−16,105

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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