Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Terminal Drive Plainview, New York 11803 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (516) 677-0200 Securities registered pursuant to Section 12(b) of the Act: OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 1 ...

MAKING A MATERIAL DIFFERENCE | --- | --- | --- | --- | |-------|----------------------|-------|-------| | | | | | | | | | | | | Q4 2020 | | | | | Financial Results | | | | | Conference Call | | | | | Veeco (Nasdaq: VECO) | | | | | February 11, 2021 | | | Safe Harbor This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projectio ...

Financial Data and Key Metrics Changes - Revenue for the full year 2020 was $454 million, compared to $419 million in 2019, representing an increase of 8.3% [14] - Gross margin improved by nearly 5 percentage points to 43% in 2020 [14] - Non-GAAP operating income increased from $5 million in 2019 to $52 million in 2020 [32] - Diluted non-GAAP EPS reversed from a loss of $0.03 in 2019 to a profit of $0.86 in 2020 [15] - Q4 2020 revenue was $130 million, above the high end of guidance, with diluted non-GAAP EPS at $0.30 [16] Business Line Data and Key Metrics Changes - Semiconductor revenue for 2020 was $166 million, a decline of about 6% from the prior year, making up 36% of total revenue [26] - Compound Semiconductor revenue was $108 million, a 26% increase from 2019, contributing 24% to total revenue [26] - Data Storage revenue was $123 million, a 47% increase over the prior year, accounting for 27% of total revenue [27] - Scientific & Other revenue was $57 million, a decline of 23% from 2019, making up 13% of total revenue [27] Market Data and Key Metrics Changes - In Q4 2020, Semiconductor market revenue contributed 41% of total revenue, driven by laser annealing systems [29] - Compound Semiconductor market accounted for 33% of revenue, driven by 5G RF applications [30] - Data Storage market contributed 14% of total revenue, with expectations for growth in 2021 based on order backlog [30] - Asia-Pacific region including China made up 48% of total revenue in Q4 2020 [31] Company Strategy and Development Direction - The company is focusing on growth in Semiconductor and Compound Semiconductor markets, with investments in R&D and service [13][50] - Plans to expand production capacity for laser annealing systems through a new facility [19] - The company aims to maintain resiliency and flexibility across operations while executing on near-term transformation objectives [66] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities in 2021, driven by semiconductor, 5G, and data center demand [18] - The company expects revenue for 2021 to be in the range of $520 million to $540 million, with non-GAAP EPS targeted between $1 and $1.20 [46] - Management noted that while gross margins may vary, Q1 2021 is expected to be the low point for the year [90] Other Important Information - The company ended 2020 with a backlog of $366 million, with significant contributions from Data Storage and Semiconductor markets [34] - Cash and short-term investments at the end of Q4 2020 were $320 million, a sequential increase of $10 million [39] - The company is increasing R&D investments while expecting operating expenses as a percentage of revenue to decrease over the year [134] Q&A Session Summary Question: Insights on laser spike anneal business and future applications - Management highlighted that laser annealing is driving business growth in 2021, with opportunities for additional applications as technology advances [72] Question: Working capital management and supply chain status - Management confirmed effective management of working capital despite increased demand, with no significant supply chain impacts noted [76] Question: Impact of legacy MOCVD on revenue and margins - Legacy MOCVD contributed about $10 million in Q4 at very low gross margin, with expectations for a mix impact on Q1 gross margins [84] Question: Data Storage segment performance and outlook - Management indicated that fluctuations in Data Storage revenue are typical due to the high ASP of tools, with expectations for increased shipments in Q2 and Q3 [100] Question: Backlog characteristics and revenue growth potential - Management characterized the backlog as front-end loaded, with significant contributions expected from laser annealing and 5G RF segments [128]

MAKING A MATERIAL DIFFERENCE Investor Presentation January 2021 Safe Harbor 2 This presentation contains "forward-looking statements", within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forw ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 September 30, 2020 OR 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 Incorp ...

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, 2020 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 ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 March 31, 2020 OR 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 Incorporat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 Incorporation o ...

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 September 30, 2019 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 Incorp ...

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, 2019 OR Terminal Drive Plainview, New York 11803 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (516) 677-0200 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | ...