Every material Form 8-K Veeco Instruments filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Veeco reported third quarter 2025 revenue of $165.9 million and GAAP net income of $10.6 million, or $0.17 per diluted share, both down from the year-earlier quarter. The company guided fourth quarter 2025 revenue to $155 million to $175 million, while the pending merger with Axcelis Technologies continues.
Q3 2025 revenue $165.9 million vs $184.8 million in Q3 2024
Q3 2025 GAAP net income $10.6 million ($0.17 per diluted share) vs $22.0 million ($0.36)
Q3 2025 non-GAAP net income $21.8 million ($0.36 per diluted share) vs $28.3 million ($0.46)
Q4 2025 guidance: revenue $155 million to $175 million; GAAP EPS ($0.07) to $0.05
Veeco Instruments agreed on September 30, 2025 to merge into Axcelis Technologies in an all-stock deal, with Veeco becoming a wholly-owned subsidiary of Axcelis. Veeco shareholders will receive 0.3575 Axcelis shares for each Veeco share and will own about 41.6% of the combined company on a fully diluted basis. The merger is subject to shareholder votes, regulatory approvals including from China, and other conditions, and is expected to close in the second half of 2026.
Exchange ratio: 0.3575 newly issued Axcelis shares per Veeco share; Veeco holders to own 41.6% of the combined company
Combined enterprise value of approximately $4.4 billion; pro-forma 2024 revenue of $1.7 billion
Expected annual run-rate cost synergies of $35 million within 24 months; Veeco's $230 million 2029 convertible bonds to be assumed
Expected to close in the second half of 2026, subject to shareholder approval and regulatory approvals
Veeco reported second quarter 2025 results for the period ended June 30, 2025, with revenue of $166.1 million, down from $175.9 million a year earlier. GAAP diluted EPS was $0.20 versus $0.25, and non-GAAP diluted EPS was $0.36 versus $0.42, so both revenue and profit declined year over year. The company also gave third quarter revenue guidance of $150 million to $170 million, with non-GAAP diluted EPS expected at $0.20 to $0.35.
Q2 2025 revenue was $166.1 million, compared with $175.9 million in Q2 2024, and above the $135 million to $165 million range given on May 7, 2025
GAAP net income was $11.7 million, or $0.20 per diluted share, versus $14.9 million, or $0.25, a year earlier
Non-GAAP net income was $21.5 million, or $0.36 per diluted share, versus $25.4 million, or $0.42, a year earlier
Q3 2025 guidance: revenue of $150 million to $170 million; GAAP diluted EPS of $0.04 to $0.22
Veeco Instruments entered a Fourth Amendment to its loan and security agreement on June 16, 2025. The amendment raises its senior secured revolving credit facility by $25 million to $250 million, extends the termination date to June 16, 2030, and lowers borrowing margins. It also raises the maximum Secured Net Leverage Ratio covenant from 2.50 to 1.00 to 3.00 to 1.00, giving the company more room under its debt limits.
Revolving credit facility increased by $25 million to $250 million
Termination date extended from December 16, 2026 to June 16, 2030, with a springing maturity of March 2, 2029 if certain liquidity events occur
Maximum Secured Net Leverage Ratio covenant raised from 2.50 to 1.00 to 3.00 to 1.00
Incremental revolving loan capacity increased from $75 million to $100 million
Veeco reported first-quarter 2025 revenue of $167.3 million, down from $174.5 million a year earlier, and GAAP net income of $11.9 million, or $0.20 per diluted share, down from $21.9 million, or $0.37. For the second quarter, Veeco guided to revenue of $135 million to $165 million and GAAP diluted EPS of a $(0.05) loss to $0.17.
Q1 2025 revenue $167.3 million vs $174.5 million in Q1 2024
Q1 2025 non-GAAP net income $22.2 million, or $0.37 per diluted share, vs $0.45 a year earlier
Q2 2025 guidance: revenue $135 million to $165 million; non-GAAP diluted EPS $0.12 to $0.32
Cash and short-term investments totaled $353 million at March 31, 2025, per the presentation
Veeco reported fourth-quarter revenue of $182.1 million, up from $173.9 million a year earlier, and full-year 2024 revenue of $717.3 million, up from $666.4 million. Quarterly GAAP net income fell to $15.0 million from $21.6 million, and the company recorded a $28.1 million asset impairment; full-year GAAP results swung to net income of $73.7 million from a loss of $30.4 million. The company also guided first-quarter 2025 revenue to $155 million to $175 million.
Q4 2024 revenue was $182.1 million versus $173.9 million in Q4 2023; GAAP diluted EPS was $0.26 versus $0.37.
Q4 2024 non-GAAP diluted EPS was $0.41 versus $0.51 a year earlier.
Full-year 2024 GAAP diluted EPS was $1.23 versus a loss of $0.56; non-GAAP diluted EPS was $1.74 versus $1.69.
Q1 2025 guidance: revenue of $155 million to $175 million; GAAP diluted EPS of $0.11 to $0.22; non-GAAP diluted EPS of $0.26 to $0.36.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Veeco Instruments filing is on SEC EDGAR ↗. 8-K briefs of other companies →