Veeco(US:VECO)2025-11-05 21:16Financial Performance - Revenue for Q3 2025 was $165.9 million, a decrease of 10.4% from $184.8 million in Q3 2024[2] - GAAP net income for Q3 2025 was $10.6 million, down 51.8% from $22.0 million in Q3 2024, resulting in diluted earnings per share of $0.17 compared to $0.36[3] - Non-GAAP net income for Q3 2025 was $21.8 million, a decline of 23.0% from $28.3 million in Q3 2024, with diluted earnings per share of $0.36 compared to $0.46[3] - Operating income for Q3 2025 was $10.55 million, down 56.7% from $24.34 million in Q3 2024[13] - Net income for Q3 2025 was $10,596 thousand, with Non-GAAP net income reaching $21,773 thousand, indicating a significant increase in profitability[19] - The company reported a basic net income per share of $0.18 (GAAP) and $0.36 (Non-GAAP) for Q3 2025, reflecting strong earnings performance[23] Future Projections - The company expects Q4 2025 revenue to be in the range of $155 million to $175 million[8] - GAAP diluted earnings per share for Q4 2025 are projected to be between ($0.07) and $0.05, while Non-GAAP diluted earnings per share are expected to range from $0.16 to $0.32[8] - The company anticipates Q4 2025 net sales guidance between $155 million and $175 million, with a projected Non-GAAP operating income of $11 million to $22 million[32] - Gross margin for Q4 2025 is expected to be between 36% and 39%, indicating a focus on maintaining profitability amid market fluctuations[32] Market and Product Development - The semiconductor market is experiencing strong momentum driven by AI and High-Performance Computing, contributing to new product traction in the MOCVD business[2] - Veeco has secured multiple orders for its 300mm Gallium Nitride single wafer and Arsenide Phosphide batch systems, indicating growth in product demand[2] - The pending merger with Axcelis is anticipated to expand technology and market opportunities for Veeco[2] - The company plans to continue investing in new product development and market expansion strategies to drive future growth[16] Expenses and Assets - Research and development expenses for Q3 2025 were $28.99 million, compared to $32.22 million in Q3 2024, reflecting a decrease of 10.3%[13] - Total assets increased to $1,289,911 thousand as of September 30, 2025, up from $1,251,577 thousand at December 31, 2024, representing a growth of approximately 3.1%[15] - Current liabilities decreased to $151,186 thousand in Q3 2025 from $192,282 thousand in Q4 2024, showing improved liquidity management[15] - Total stockholders' equity rose to $875,970 thousand as of September 30, 2025, compared to $770,770 thousand at the end of 2024, marking an increase of approximately 13.6%[15]