Veeco Updates Fourth Quarter and Full Year 2024 Guidance

Financial Guidance Update - Veeco Instruments Inc. has updated its financial guidance for Q4 and full year 2024, expecting Q4 revenue between $175 million and $185 million, an increase from the previous guidance of $165 million to $185 million [2] - Full year 2024 revenue is now expected to be in the range of $710 million to $720 million [2] - GAAP diluted earnings per share for Q4 2024 is projected to be between $0.09 and $0.28, revised from $0.18 to $0.27, while Non-GAAP diluted earnings per share is expected between $0.36 and $0.44, slightly adjusted from $0.35 to $0.45 [2] Impact of Market Penetration - The updated guidance reflects a net impact on Q4 2024 GAAP Net Income ranging from a $9 million expense to a $4 million benefit, primarily due to market penetration challenges associated with the Silicon Carbide Epitaxy technology acquired in 2023 [3] - This impact includes non-cash impairments related to acquired intangible assets, offset by a gain from a reduction in contingent consideration related to the acquisition, as well as estimated tax benefits [3] Financial Data and Reconciliation - The estimated and unaudited consolidated financial data is preliminary and based on internal reporting for the period ending December 31, 2024, with no unusual events identified that could materially affect these estimates [4] - A detailed reconciliation of GAAP to Non-GAAP financial measures for Q4 and full year 2024 is provided, showing Non-GAAP diluted EPS expected between $0.36 and $0.44 for Q4 and $1.69 to $1.76 for the full year [9][10] Investor Engagement - Veeco's management is scheduled to present at the 27th Annual Needham Growth Conference, which will be broadcast live, indicating the company's commitment to engaging with investors [5]