Financial Data and Key Metrics Changes - Revenue for the full year 2022 was $646 million, representing an 11% growth over 2021, with semiconductor revenue growing 50% year on year [12][23] - Non-GAAP operating income increased 15% to $100 million, with diluted non-GAAP EPS at $1.57 [13][27] - Q4 2022 revenue was $154 million, with non-GAAP operating income of $24 million and diluted non-GAAP EPS of $0.38 [15][33] - Cash flow from operations for the full year was $108 million, a 60% increase over 2021 [13][29] Business Line Data and Key Metrics Changes - Semiconductor revenue was $369 million, accounting for 57% of total revenue, driven by strong performance in laser annealing systems [23] - Compound semiconductor revenue was $121 million, up 13% from 2021, making up 19% of total revenue [23] - Data storage revenue decreased by 48% to $88 million, representing 13% of total revenue [24] - Scientific and other revenue increased by 12% to $68 million, accounting for 11% of total revenue [24] Market Data and Key Metrics Changes - Asia Pacific region (excluding China) contributed 36% of total revenue, while the United States accounted for 31% [25] - China made up 19% of total revenue, with expectations for increased revenue from China in the first half of 2023 [26] - EMEA accounted for 14% of total revenue [25] Company Strategy and Development Direction - The acquisition of Epiluvac aims to accelerate entry into the high-growth silicon carbide epitaxy equipment market, driven by electric vehicle demand [7][17] - The company plans to leverage its manufacturing and global sales infrastructure to enhance growth prospects in the silicon carbide market [20][51] - Focus on maintaining profitability while navigating macroeconomic challenges and investing in R&D for product roadmaps [52] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2023, with a revenue outlook between $630 million and $670 million [39] - The semiconductor market is expected to remain flat to slightly up in 2023, outperforming overall wafer fab equipment spending [43] - Challenges in the compound semiconductor market are anticipated, but long-term growth potential remains strong [47] Other Important Information - The company ended 2022 with a backlog of $500 million, a $60 million increase from the previous year [29] - Gross margin for Q4 2022 was 42%, exceeding guidance due to a favorable product mix and lower manufacturing costs [32][84] - The company appointed a new Head of Investor Relations, Anthony Pappone, following the departure of Anthony Bencivenga [53] Q&A Session Summary Question: Changes in Q1 expectations and compound semiconductor weakness - Management confirmed that Q1 guidance remains at $130 million to $150 million, considering the increased backlog and strong bookings [56][57] - The compound semiconductor market is facing challenges primarily due to weakness in consumer markets [64] Question: Breakdown of strong bookings in Q4 - Record bookings were noted in the semiconductor segment, particularly in laser annealing and EUV mask blank systems [60][62] Question: Details on the Epiluvac acquisition - The acquisition includes a new 8-inch single wafer silicon carbide reactor, with plans for integration into Veeco's sales and service infrastructure [66][68] Question: Revenue expectations from silicon carbide CVD business - Management indicated that significant revenue from the silicon carbide market is not expected until 2024, with a focus on building demo tools and customer engagement [68][75] Question: Backlog composition and data storage outlook - More than half of the backlog is in semiconductor, with about 20% from data storage, indicating a positive outlook for data storage in 2023 [82] Question: Gross margin performance and expectations - Q4 gross margin exceeded expectations due to a favorable product mix and lower logistics costs, with guidance for 2023 gross margin similar to 2022 [84][85]

Financial Performance - Veeco's FY 2022 revenue reached $646 million, representing an 11% year-over-year growth[5] - The company's non-GAAP operating income for FY 2022 was $100 million[5] - Diluted non-GAAP EPS for FY 2022 was $1.57[6] - Q4 2022 revenue was $154 million[8] - Q4 2022 non-GAAP operating income was $24 million[8] - Q4 2022 diluted non-GAAP EPS was 38 cents[9] Market and Strategy - Semiconductor revenue increased by 50% year-over-year in FY 2022, driven by Laser Annealing[7] - The company's backlog grew by $60 million to $500 million[7] - Veeco acquired Epiluvac to accelerate access to the high-growth Silicon Carbide (SiC) markets[11, 13] - The SiC device market is expected to experience a compound annual growth rate (CAGR) of approximately 30%, reaching ~$6 billion by 2027[14] - The SiC epitaxy equipment market is expected to experience a CAGR of approximately 15%, reaching ~$500 million by 2027[14] Acquisition of Epiluvac - Veeco acquired Epiluvac AB for $30 million in cash upfront, with potential earn-outs up to $35 million[15]

Veeco Instruments, Inc. (NASDAQ:VECO) Q3 2022 Earnings Conference Call November 7, 2022 5:00 PM ET Company Participants Anthony Bencivenga - Investor Relations Bill Miller - Chief Executive Officer John Kiernan - Chief Financial Officer Conference Call Participants Rick Schafer - Oppenheimer Mark Miller - The Benchmark Company David Duley - Steelhead Gus Richard - Northland Operator Good day and welcome to today Veeco Quarter 3 2022 Earnings Call. Today’s conference is being recorded. At this time, I would ...

Q3 2022 Financial Performance - Revenue reached $172 million, a 32% increase year-over-year[4] - Non-GAAP operating income was $28 million[4] - Diluted Non-GAAP EPS was $0.45[4] - Semiconductor revenue hit a record quarter, up 21% year-over-year[4] - GAAP gross margin was 40.7% and Non-GAAP gross margin was 42.0%[20] Revenue Breakdown by Market - Semiconductor accounted for $100 million of the total revenue[16] - Compound Semiconductor contributed $28 million to the total revenue[16] - Data Storage generated $28 million in revenue[13] - Scientific & Other sectors brought in $16 million[14] Q4 2022 Guidance - Revenue is projected to be between $150 million and $170 million[23] - GAAP gross margin is expected to be in the range of 37% to 40%, while Non-GAAP gross margin is guided at 39% to 41%[23] - GAAP diluted earnings per share are forecasted to be $0.05 to $0.23, and Non-GAAP diluted earnings per share are expected to be $0.24 to $0.40[23]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 Washington, D.C. 20549 FORM 10-Q (State or Other Jurisdiction of Incorp ...

Veeco Instruments Inc. (NASDAQ:VECO) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET Company Participants Bill Miller - Chief Executive Officer John Kiernan - Chief Financial Officer Anthony Bencivenga - Investor Relations Conference Call Participants Patrick Ho - Stifel Rick Schafer - Oppenheimer Mark Miller - Benchmark Company Tom O'Malley - Barclays Operator Good day, ladies and gentlemen. Welcome to the Veeco Instruments Incorporated, Corporate Hosted Q2 2022 Earnings Call. At this time I’d l ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorporati ...

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