Veeco Instruments Inc. (VECO) Income Statement
VECO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVECO revenue and net income
Where VECO's revenue goes
2025Each bar shows an amount and its share of revenue. VECO kept 5.3% of revenue as net income.
VECO profit margins
VECO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −7.4% | +0.9% | +7.9% | +3.4% |
| Gross profit | −12.7% | +0.3% | +6.4% | +4.1% |
| Operating income | −46.7% | −16.0% | +9.6% | — |
| Net income | −52.0% | −40.4% | — | — |
| EPS (diluted) | −32.8% | −9.1% | +6.6% | +8.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VECO quarterly EPS vs estimates
Veeco Instruments beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.32).
VECO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $664.3M | $717.3M | $666.4M | $646.1M | $583.3M | $454.2M | $419.3M | $542.1M | $484.8M | $332.5M |
| Cost of revenue | $398.9M | $413.3M | $381.4M | $383.0M | $341.0M | $259.9M | $261.2M | $348.4M | $300.4M | $199.6M |
| Gross profit | $265.4M | $304.0M | $285.1M | $263.1M | $242.3M | $194.3M | $158.2M | $193.7M | $184.3M | $132.9M |
| Research & development | $119.6M | $124.5M | $112.9M | $103.6M | $88.7M | $79.0M | $90.6M | $97.8M | $82.0M | $81.0M |
| Sales, general & admin | $98.9M | $99.7M | $92.8M | $89.0M | $84.5M | $76.3M | $79.7M | $92.1M | $100.2M | $77.6M |
| Total operating expenses | $229.7M | $237.0M | $215.1M | $202.9M | $185.6M | $171.7M | $197.8M | $222.2M | $217.7M | $177.9M |
| Operating income | $35.7M | $67.0M | $69.9M | $60.3M | $56.7M | $22.6M | −$39.6M | −$415.5M | −$63.8M | −$120.4M |
| Interest income | $13.5M | $12.9M | $10.6M | $2.2M | $2.3M | $1.6M | $4.7M | $3.2M | $2.3M | $1.2M |
| Interest expense | $9.1M | $11.0M | $11.8M | $11.5M | $28.4M | $24.7M | $22.1M | $21.5M | $19.5M | $222,000 |
| Income before taxes | $39.4M | $68.8M | −$28.3M | $51.0M | $25.7M | −$8.5M | −$78.0M | −$433.8M | −$80.9M | −$119.4M |
| Income taxes | $4.0M | −$4.9M | $2.0M | −$116.0M | −$358,000 | −$73,000 | $777,000 | −$26.7M | −$36.1M | $2.8M |
| Net income | $35.4M | $73.7M | −$30.4M | $166.9M | $26.0M | −$8.4M | −$78.7M | −$407.1M | −$44.8M | −$122.2M |
| EBITDA | $68.5M | $105.0M | $8.4M | $88.1M | $80.1M | $47.0M | −$21.5M | −$362.3M | −$19.4M | −$86.6M |
| EPS (diluted) | $1.17 | $1.74 | $1.70 | $1.56 | $1.43 | $0.85 | −$0.04 | $0.30 | $0.52 | −$0.30 |
| Gross margin | 40.0% | 42.4% | 42.8% | 40.7% | 41.5% | 42.8% | 37.7% | 35.7% | 38.0% | 40.0% |
| Operating margin | 5.4% | 9.3% | 10.5% | 9.3% | 9.7% | 5.0% | −9.4% | −76.6% | −13.2% | −36.2% |
| Net margin | 5.3% | 10.3% | −4.6% | 25.8% | 4.5% | −1.8% | −18.8% | −75.1% | −9.2% | −36.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $193.5M | $158.3M | $165.0M | $165.9M | $166.1M | $167.3M | $182.1M | $184.8M | $175.9M | $174.5M | $173.9M | $177.4M |
| Cost of revenue | $118.6M | $103.2M | $103.7M | $98.9M | $97.4M | $98.8M | $108.1M | $105.6M | $100.5M | $99.1M | $95.3M | $100.5M |
| Gross profit | $74.8M | $55.1M | $61.3M | $66.9M | $68.7M | $68.5M | $74.0M | $79.2M | $75.4M | $75.4M | $78.7M | $76.9M |
| Research & development | $33.3M | $29.9M | $30.6M | $29.0M | $31.6M | $28.5M | $31.0M | $32.2M | $31.7M | $29.6M | $29.1M | $28.8M |
| Sales, general & admin | — | $26.0M | $22.7M | $27.3M | $23.9M | $25.0M | $25.1M | $25.3M | $24.6M | $24.7M | $23.5M | $22.8M |
| Total operating expenses | $63.0M | $53.9M | $62.8M | $56.3M | $56.4M | $54.3M | $70.1M | $54.9M | $58.7M | $53.4M | $54.5M | $54.6M |
| Operating income | $11.9M | $1.2M | −$1.5M | $10.7M | $12.4M | $14.1M | $3.9M | $24.3M | $16.7M | $22.0M | $24.2M | $22.3M |
| Interest income | — | $3.3M | $3.4M | $3.5M | $3.2M | $3.3M | $3.3M | $3.2M | $3.1M | $3.3M | $3.1M | $247,000 |
| Interest expense | $2.2M | $2.1M | $2.2M | $2.2M | $2.3M | $2.5M | $2.8M | $2.9M | $2.8M | $2.6M | $3.1M | $2.8M |
| Income before taxes | $13.0M | −$1.5M | −$94,000 | $11.9M | $12.6M | $15.0M | $4.4M | $24.7M | $17.1M | $22.8M | $24.2M | $22.5M |
| Income taxes | $1.2M | −$1.2M | −$1.2M | $1.3M | $889,000 | $3.0M | −$10.6M | $2.7M | $2.1M | $896,000 | $2.5M | −$2.1M |
| Net income | $11.9M | −$324,000 | $1.1M | $10.6M | $11.7M | $11.9M | $15.0M | $22.0M | $14.9M | $21.9M | $21.6M | $24.6M |
| EBITDA | $16.8M | $5.7M | $7.1M | $18.9M | $20.0M | $22.5M | $13.1M | $33.7M | $26.4M | $31.8M | $33.6M | $31.5M |
| EPS (diluted) | $0.19 | $0.14 | $0.24 | $0.20 | $0.36 | $0.37 | $0.41 | $0.46 | $0.42 | $0.45 | $0.51 | $0.53 |
| Gross margin | 38.7% | 34.8% | 37.1% | 40.3% | 41.4% | 40.9% | 40.6% | 42.9% | 42.9% | 43.2% | 45.2% | 43.3% |
| Operating margin | 6.1% | 0.8% | −0.9% | 6.4% | 7.4% | 8.5% | 2.1% | 13.2% | 9.5% | 12.6% | 13.9% | 12.6% |
| Net margin | 6.1% | −0.2% | 0.7% | 6.4% | 7.1% | 7.1% | 8.2% | 11.9% | 8.5% | 12.5% | 12.4% | 13.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VECO's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VECO financial results
In fiscal year 2025 (ended December 31, 2025), Veeco Instruments reported revenue of $664.3 million, down 7.4% from the year before. It had net income of $35.4 million (down 52.0%), a net profit margin of 5.3%. Diluted earnings per share came to $1.17. Over five years revenue grew at an average rate of 7.9% a year.
See the VECO stock overview for the latest quote and news, or the VECO chart for price history and technical indicators.
VECO income statement FAQ
What is Veeco Instruments's annual revenue?
Veeco Instruments reported total revenue of $664.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 7.4% from $717.3 million the previous year.
Is Veeco Instruments profitable?
Yes. Veeco Instruments reported net income of $35.4 million in fiscal 2025, a net profit margin of 5.3%; its operating margin was 5.4%.
What is Veeco Instruments's gross margin?
Veeco Instruments's gross margin was 40.0% in fiscal 2025: for every $100 of revenue, Veeco Instruments kept $40 after the direct cost of its products and services.
How much does Veeco Instruments spend on research and development?
Veeco Instruments spent $119.6 million on research and development in fiscal 2025, 18.0% of revenue.
How fast is Veeco Instruments growing?
Revenue grew 7.9% a year on average over the last five fiscal years, from $454.2 million to $664.3 million.
What are Veeco Instruments's earnings per share?
Veeco Instruments earned $1.17 per diluted share in fiscal 2025, compared with $1.74 a year earlier.
When will Veeco Instruments report its next earnings?
Veeco Instruments is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Veeco Instruments's fiscal year end?
Veeco Instruments's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.