Veeco Instruments Inc. Files Q3 2024 10-Q

TL;DR

Veeco's Q3 10-Q is in: check financials for the latest performance update.

AI Summary

Veeco Instruments Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the semiconductor equipment manufacturing sector.

Why It Matters

This filing provides investors and analysts with a detailed look at Veeco's financial health and operational performance during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details and market conditions discussed can introduce varying levels of risk.

Key Players & Entities

• VEECO INSTRUMENTS INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241106 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock , par value $0.01 per share VECO The NASDAQ Global Se

Filing Documents

• veco-20240930x10q.htm (10-Q) — 2219KB
• veco-20240930xex31d1.htm (EX-31.1) — 15KB
• veco-20240930xex31d2.htm (EX-31.2) — 13KB
• veco-20240930xex32d1.htm (EX-32.1) — 9KB
• veco-20240930xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-014651.txt ( ) — 10354KB
• veco-20240930.xsd (EX-101.SCH) — 51KB
• veco-20240930_cal.xml (EX-101.CAL) — 73KB
• veco-20240930_def.xml (EX-101.DEF) — 193KB
• veco-20240930_lab.xml (EX-101.LAB) — 520KB
• veco-20240930_pre.xml (EX-101.PRE) — 362KB
• veco-20240930x10q_htm.xml (XML) — 2409KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 4

Financial Statements

Item 1. Financial Statements 4

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

—OTHER INFORMATION

PART II—OTHER INFORMATION 38

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 39

SIGNATURES

SIGNATURES 39 Table of Contents Safe Harbor Statement This quarterly report on Form 10-Q (the "Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Discussions containing such forward-looking statements may be found in Part I - Items 1, 2, and 3 hereof, as well as within this Report generally. In addition, when used in this Report, the words "believes," "anticipates," "expects," "estimates," "targets," "plans," "intends," "will," and similar expressions related to the future are intended to identify forward-looking statements. All forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from projected results. In addition, the preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates and assumptions are based on knowledge of current events and planned actions to be undertaken in the future, they may ultimately differ from actual results. Operating results for the three and nine months ended September 30 , 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. All estimates and assumptions are subject to a number of risks and uncertainties that could cause actual results to differ materially from these estimates and assumptions. The risks and uncertainties of Veeco Instruments Inc. (together with its consolidated subsidiaries, "Veeco," the "Company," "we," "us," and "our," unless the context indicates otherwise) include, without limitation, those set forth under the heading "Risk Factors" in Part 1, Item 1A of our 2023 Form 10-K, and the following: Risks Associated with Opera

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Veeco Instruments Inc. and Subsidiaries Consolidated Balance Sheets (in thousands, except share amounts) September 30, December 31, 2024 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 163,228 $ 158,781 Restricted cash 258 339 Short-term investments 157,534 146,664 Accounts receivable, net 132,347 103,018 Contract assets 30,795 24,370 Inventories 242,123 237,635 Prepaid expenses and other current assets 34,692 35,471 Total current assets 760,977 706,278 Property, plant, and equipment, net 112,677 118,459 Operating lease right-of-use assets 26,695 24,377 Intangible assets, net 38,542 43,945 Goodwill 214,964 214,964 Deferred income taxes 115,777 117,901 Other assets 3,240 3,117 Total assets $ 1,272,872 $ 1,229,041 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 50,049 $ 42,383 Accrued expenses and other current liabilities 57,117 57,624 Contract liabilities 80,468 118,026 Income taxes payable 1,060 — Current portion of long-term debt 26,473 — Total current liabilities 215,167 218,033 Deferred income taxes 6,383 6,552 Long-term debt 249,402 274,941 Long-term operating lease liabilities 34,421 31,529 Other liabilities 20,980 25,544 Total liabilities 526,353 556,599 Stockholders' equity: Preferred stock, $ 0.01 par value; 500,000 shares authorized; no shares issued and outstanding. — — Common stock, $ 0.01 par value; 120,000,000 shares authorized; 56,778,136 shares issued and outstanding at September 30, 2024 and 56,364,131 shares issued and outstanding at December 31, 2023 570 564 Additional paid-in capital 1,217,520 1,202,440 Accumulated deficit ( 473,420 ) ( 532,169 ) Accumulated other comprehensive income 1,849 1,607 Total stockholders' equity 746,519 672,442 Total liabilities and stockholders' equity $

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View this 10-Q filing on SEC EDGAR