Veeco Instruments Files 2024 Annual Report

TL;DR

Veeco dropped its 2024 10-K. All the deets are in there.

AI Summary

Veeco Instruments Inc. filed its 10-K for the fiscal year ending December 31, 2024. The company, incorporated in Delaware and headquartered in Plainview, NY, operates in the Special Industry Machinery sector. Key financial details and operational information are presented in this comprehensive annual report.

Why It Matters

This filing provides a detailed overview of Veeco Instruments' financial performance and business operations for the past fiscal year, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: medium — This is a standard annual financial filing with no immediate red flags or significant new risks highlighted in the provided snippet.

Key Players & Entities

• VEECO INSTRUMENTS INC (company) — Filer
• 20241231 (date) — Fiscal Year End
• 20250214 (date) — Filing Date
• PLAINVIEW (location) — Company Headquarters
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock , par value $0.01 per share VECO The NASDAQ Global Se
• $46.71 — 8,029,739 based on the closing price of $46.71 on the NASDAQ Global Select Market on t
• $409.6 million — deposit, when required. Our backlog was $409.6 million and $490.7 million at December 31, 2024
• $490.7 million — red. Our backlog was $409.6 million and $490.7 million at December 31, 2024 and 2023, respecti

Filing Documents

• veco-20241231x10k.htm (10-K) — 3264KB
• veco-20241231xex19d1.htm (EX-19.1) — 146KB
• veco-20241231xex21d1.htm (EX-21.1) — 26KB
• veco-20241231xex23d1.htm (EX-23.1) — 16KB
• veco-20241231xex31d1.htm (EX-31.1) — 16KB
• veco-20241231xex31d2.htm (EX-31.2) — 16KB
• veco-20241231xex32d1.htm (EX-32.1) — 8KB
• veco-20241231xex32d2.htm (EX-32.2) — 8KB
• veco-20241231xex97.htm (EX-97) — 74KB
• veco-20241231x10k004.jpg (GRAPHIC) — 58KB
• veco-20241231xex19d1001.jpg (GRAPHIC) — 8KB
• 0001558370-25-001001.txt ( ) — 14960KB
• veco-20241231.xsd (EX-101.SCH) — 78KB
• veco-20241231_cal.xml (EX-101.CAL) — 112KB
• veco-20241231_def.xml (EX-101.DEF) — 293KB
• veco-20241231_lab.xml (EX-101.LAB) — 776KB
• veco-20241231_pre.xml (EX-101.PRE) — 593KB
• veco-20241231x10k_htm.xml (XML) — 3061KB

Business

Item 1. Business 4

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 27

Cybersecurity

Item 1C. Cybersecurity 27

Properties

Item 2. Properties 28

Legal Proceedings

Item 3. Legal Proceedings 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29 PART II 30

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Stock Performance Graph 31

[Reserved]

Item 6. [Reserved] 31

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 41

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 42

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 42

Controls and Procedures

Item 9A. Controls and Procedures 42

Other Information

Item 9B. Other Information 45 PART III 45

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 45

Executive Compensation

Item 11. Executive Compensation 45

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 45

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 45

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 45 PART IV 46

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 46

SIGNATURES

SIGNATURES 51 2 Table of Contents This Annual Report on Form 10-K ("Form 10-K") contains certain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, relating to Veeco Instruments Inc. (together with its consolidated subsidiaries, "Veeco," the "Company," "Registrant," "we," "our," or "us," unless the context indicates otherwise) that are based on management's expectations, estimates, projections, and assumptions. When used in this Form 10-K, words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates," and variations of these words and similar expressions are intended to identify forward-looking statements. Discussions containing such forward-looking statements may be found in Part I, Items 1 and 3, Part II, Items 7 and 7A hereof, as well as within this Form 10-K generally. Forward-looking statements in this discussion include, but are not limited to, those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, our investment and growth strategies, our development of new products and technologies, our business outlook for the current and future periods, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: Unfavorable market conditions; Risks associated with operating a global business; Changes in U.S. trade policy and export controls and ongoing trade disputes between the U.S. and China; An inability to obtain required export licenses for the sale of our products; Significant third party competition; Risks associated with operating in industries characterized by rapid technological change; Our dependen

Business

Item 1. Business Business Description and Overview Headquartered in Plainview, New York, we were organized as a Delaware corporation in 1989. We are a manufacturer of advanced semiconductor process equipment that solves an array of challenging materials engineering problems for our customers. Our comprehensive collection of ion beam, laser annealing, metal organic chemical vapor deposition ("MOCVD"), chemical vapor deposition ("CVD"), advanced packaging lithography, single wafer wet processing, molecular beam epitaxy ("MBE"), and atomic layer deposition ("ALD") technologies play an integral role in the fabrication of key devices that are enabling the 4th industrial revolution of all things connected. Such devices include leading advanced node application processors for AI chips, high-performance computing, mobile devices, high-speed data communications, and radio frequency ("RF") filters and power amplifiers for fifth generation ("5G") networks and mobile electronics, photonics devices for 3D sensing, advanced displays, and thin film magnetic heads for hard disk drives in data storage. In close partnership with our customers, we combine decades of applications and materials know-how with leading-edge systems engineering to deliver high-volume manufacturing solutions with competitive cost of ownership. Serving a global and highly interconnected customer base, we have comprehensive sales and service 4 Table of Contents operations across the Asia-Pacific, Europe, and North America regions to ensure real-time close collaboration and responsiveness. Markets Our products are purchased by customers in the following four end-markets: 1) Semiconductor; 2) Compound Semiconductor; 3) Data Storage; and 4) Scientific & Other. Our systems are used in the production of a broad range of microelectronic components, including logic, dynamic random-access memory ("DRAM"), photonics devices (including laser diodes and micro-LEDs), power electronics, RF filters and amplifi

View Full Filing

View this 10-K filing on SEC EDGAR