Veeco(US:VECO)2023-08-08 00:24Q2 2023 Financial Performance - Revenue reached $162 million, near the high end of guidance[4,10] - Non-GAAP EPS exceeded the high end of guidance at $036[4] - Record Semiconductor revenue was achieved[4] - GAAP Net loss was $(853) million, or $(161) per share, primarily due to a $97 million loss on debt extinguishment[11] - Non-GAAP Net income was $206 million, or $036 per diluted share[11] Market and Technology Highlights - Shipped and received LSA orders for High-Bandwidth Memory (HBM) DRAM[4] - Received LSA orders from two logic customers at the most advanced nodes[4] - Progress was made toward shipment of Nano-Second Annealing (NSA) and Ion Beam Deposition (IBD) evaluations[4] - The Semiconductor market is experiencing strength driven by broad-based demand for the LSA product line[5] - The Compound Semiconductor market opportunity is driven by demand for epitaxy equipment for power electronics and photonics applications[5] Guidance and Outlook - Q3 2023 revenue is guided to be between $155 million and $175 million[13,27] - Q3 2023 diluted earnings per share is expected to be $016-$027 (GAAP) and $030-$040 (Non-GAAP)[13,27] - The company reiterated its 2023 revenue outlook of $630 million to $670 million[13] - The 2023 Non-GAAP Gross Margin outlook was raised from between 41%-42% to 42%-43%, and the Non-GAAP EPS outlook was raised from between $115-$135 to $130-$150[13] Revenue Breakdown - Semiconductor accounted for 65% of Q2 2023 revenue[10] - Compound Semiconductor accounted for 15% of Q2 2023 revenue[10] - Data Storage accounted for 9% of Q2 2023 revenue[10] - Scientific & Other accounted for 11% of Q2 2023 revenue[10]