Veeco Instruments Inc. · NASDAQ:VECO
Veeco Instruments — Q3 2026 Earnings Presentation
21 slides from Veeco Instruments's earnings presentation, Nov 4, 2026
Slide 1: Veeco Instruments Q3 2026 Financial Results Conference Call
Veeco Instruments Q3 2026 Financial Results Conference Call November 4th, 2026 1
Slide 2: Disclaimer
Disclaimer No Offer or Solicitation This communication is not intended to and shall not constitute an offer to purchase or the solicitation of an offer to buy or sell any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unla
Slide 3: CEO Overview
CEO Overview Bill Miller, Ph.D. 3
Slide 4: Q3 2026 Highlights
Q3 2026 Highlights Key Takeaways 1. Delivered solid financial results Revenue 2. Significant order wins in front-end semiconductor, $209M advanced packaging, and silicon photonics Non-GAAP 3. Advancement of our market-leading ion beam Operating Income deposition technology, spanning all major market
Slide 5: Veeco's Critical Role in Semi Manufacturing & SAM Expansion
Veeco’s Critical Role in Semi Manufacturing & SAM Expansion FRONT END Representative Process Steps BACK END Ion Implant Anneal Inspection Adv. Deposition Lithography Etch Packaging IBD IBD Wet LSA NSA Processing Litho 300 EUV New products Driving revenue Key Drivers 2026 2030 Total Served Available
Slide 6: Compound Semi Projected SAM Growth
Compound Semi Projected SAM Growth Total Served Available Market Key Drivers 2026 2030 Silicon • Lumina® MOCVD InP platform ~$2.0B Photonics • WaferEtch® and WaferStorm® systems ~$300M ~$700M Projected (InP Lasers) • Spector® IBD for laser diode facets coatings ~15% CAGR ~$1.0B • Lumina® MOCVD platf
Slide 7: Veeco's Critical Role in Compound Semi: Indium Phosphide Laser Solutions
Veeco’s Critical Role in Compound Semi: Indium Phosphide Laser Solutions Repeat cycle depending on device Anneal / Laser Facet Epitaxy Patterning Etch Metallization Cleave Coating WaferEtch® / Lumina® MOCVD WaferStorm® Spector® Wet Processing InP Platform Ion Beam Deposition Size of bubble represent
Slide 8: CFO Overview
CFO Overview John Kiernan e€eC
Slide 9: Q3 2026 Revenue by Market & Region
Q3 2026 Revenue by Market & Region Revenue by Market Revenue by Region Scientific & Other EMEA & ROW Data Semiconductor Storage 6% 10% 12% China Compound 12% United States APAC Semiconductor 19% $209M 45% 65% United States 31% Revenue Trend ($M) Q3 25 Q2 26 Q3 26 Revenue Trend ($M) Q3 25 Q2 26 Q3 26
Slide 10: Q3 2026 Operating Results
Q3 2026 Operating Results GAAP Non-GAAP Non-GAAP In millions Q3 26 Guidance (except per share amounts) Q2 26 Q3 26 Q2 26 Q3 26 (as of Aug. 5th, 2026) Revenue $193.5 $209.4 $193.5 $209.4 $200M - $220M Gross Profit 74.8 80.4 76.4 81.8 Gross Margin 38.7% 38.4% 39.5% 39.1% 41% - 42% Operating Expenses 6
Slide 11: Balance Sheet and Cash Flow Highlights
Balance Sheet and Cash Flow Highlights $ millions Q2 2026 Q3 2026 Cash & Short-Term Investments 429 483 Accounts Receivable 148 154 Inventories 292 308 Accounts Payable 57 68 Long-Term Debt 227 227 Cash Flow from Operations 51 58 Capital Expenditures 4 4 DSO (days) 69 66 DIO (days) 218 211 DPO (days
Slide 12: Q4 & FY 2026 Outlook
Q4 & FY 2026 Outlook Q4 2026 FY 2026 GAAP Non-GAAP GAAP Non-GAAP Revenue $230M - $260M $230M - $260M $790M - $820M $790M - $820M Gross Margin 42% - 44% 43% - 44% 39% - 40% 40% Operating Expenses $73M - $75M $64M – $66M $261M - $262M $222M - $224M Net Income $23M – $36M $34M - $47M $48M - $62M $89M -
Slide 13: Q&A
Q&A 13
Slide 14: Backup & Financial Tables
Backup & Financial Tables e€eC
Slide 15: Historical Revenue by End-Market
Historical Revenue by End-Market $M 2022 2023 2024 2025 2026 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Semi 369.4 93.1 106.3 98.2 115.2 412.7 120.4 109.9 124.1 112.1 466.6 123.8 123.9 118.3 110.5 476.6 109.0 130.7 135.3 Compound 121.2 21.2 24.1 25.7 16.3 87.3 21.0 18.2 15.6 22.8 77.6
Slide 16: 2029 Convertible Notes Outstanding
2029 Convertible Notes Outstanding As of September 30, 2026 Effect of Convertible Notes on Diluted EPS (GAAP and Non-GAAP)* Average Stock Price per Incremental Dilutive Principal Carrying Annual Annual Initial Common Share Shares (in thousands) Convertible Coupon Cash Non-Cash Conversion Amount Valu
Slide 17: Note on Reconciliation Tables
Note on Reconciliation Tables These tables include financial measures adjusted for the impact of certain items; these financial measures are therefore not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). These Non-GAAP financial measures exclude items such as: sh
Slide 18: Supplemental Information—GAAP to Non-GAAP Reconciliation
Supplemental Information—GAAP to Non-GAAP Reconciliation $ millions, except per share amounts Q2 26 Q3 26 $ millions Q2 26 Q3 26 GAAP Basic weighted average shares 61.1 61.1 Net sales $193.5 $209.4 GAAP Diluted weighted average shares 66.8 66.2 GAAP gross profit 74.8 80.4 GAAP Basic EPS $0.19 $0.22
Slide 19: Q3 2026 Actual: GAAP to Non-GAAP Reconciliation
Q3 2026 Actual: GAAP to Non-GAAP Reconciliation $ millions Non-GAAP Adjustments Share-Based GAAP Compensation Amortization Other Non-GAAP Net Sales $209.4 $209.4 Gross Profit 80.4 1.4 — — 81.8 Gross Margin 38.4% 39.1% Operating Expenses $66.3 (7.0) (0.4) (2.3) $56.6 Operating Income $14.1 8.4 0.4 2.
Slide 20: Q4 2026 Guidance
Q4 2026 Guidance ($ millions, except per share amounts) Reconciliation of GAAP to non-GAAP Financial Data Non-GAAP Adjustments Share-Based GAAP Compensation Amortization Other Non-GAAP Net Sales $230–$260 $230–$260 Gross Profit 97–114 2 — — 99–116 Gross Margin 42%–44% 43%–44% Operating Expenses $73–
Slide 21: FY 2026 Guidance
FY 2026 Guidance ($ millions, except per share amounts) Reconciliation of GAAP to non-GAAP Financial Data Non-GAAP Adjustments Share-Based GAAP Compensation Amortization Other Non-GAAP Net Sales $790–$820 $790–$820 Gross Profit 309–325 6 — — 315–331 Gross Margin 39%–40% 40%–40% Operating Expenses $2