Filing Flows › Veeco Instruments (VECO) › Q1 2025
Veeco Instruments (VECO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Veeco Instruments (VECO) reported revenue of $167M for the first quarter 2025 (Q1 2025), -4% from a year earlier and -8% from the quarter before. Operating margin was 8.5%, net earnings $11.9M (7.1% of revenue).
Veeco Instruments, Q1 2025: revenue $167M (-4% year over year), operating margin 8.5%, net earnings $11.9M, operating cash flow $20.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $167M | -8% | -4% |
| Gross profit | $68.5M | -7% | -9% |
| Operating profit | $14.1M | +265% | -36% |
| Net earnings | $11.9M | -20% | -45% |
| Operating cash flow | $20.0M | -30% | +114% |
| Free cash flow | $13.2M | -43% | +293% |
What changed
Revenue was $167.3M in Q1 2025, down 4% year over year and down 8% from the previous quarter. Semiconductor was the largest line at 74% of revenue. Data Storage lost $11.3M year over year (down 63%), 157% of the total change.
Gross margin was 40.9%, down 2.3 points from a year earlier. Operating profit was $14.1M, a 8.5% margin (down 4.2 points year over year). Operating expenses grew 2% against a revenue fall of 4%. Net earnings were $11.9M, down 45% year over year. The effective tax rate was 20.3%.
Operating cash flow was $20.0M (up 114% year over year), 167% of net earnings. Non-cash charges added back $5.0M of depreciation and amortization and $9.2M of share-based compensation. Working capital and other items used $6.2M. Capital expenditures of $6.8M left free cash flow of $13.2M.
Questions
What was Veeco Instruments' revenue in the first quarter 2025?
Veeco Instruments (VECO) reported revenue of $167M for the first quarter 2025 (Q1 2025), -4% from a year earlier and -8% from the quarter before.
Was Veeco Instruments profitable in the first quarter 2025?
Operating profit was $14.1M (8.5% of revenue) and net earnings $11.9M.
Source: Veeco Instruments 10-Q on SEC EDGAR.