Filing Flows › Veeco Instruments (VECO) › Q1 2026
Veeco Instruments (VECO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Veeco Instruments (VECO) reported revenue of $158M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -4% from the quarter before. Operating margin was -1.7%, net loss $324K (0.2% of revenue).
Veeco Instruments, Q1 2026: revenue $158M (-5% year over year), operating margin -1.7%, net loss $324K, operating cash flow $7.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $158M | -4% | -5% |
| Operating profit | −$2.7M | — | -119% |
| Net earnings | −$324K | -129% | -103% |
| Operating cash flow | $7.9M | -68% | -60% |
| Free cash flow | $2.8M | -87% | -79% |
What changed
Revenue was $158.3M in Q1 2026, down 5% year over year and down 4% from the previous quarter. Semiconductor was the largest line at 69% of revenue. Semiconductor lost $14.8M year over year (down 12%), 165% of the total change.
Gross margin was 35.3%, down 5.7 points from Q1 2025. Operating costs exceeded revenue by $2.7M, an operating margin of -1.7%. Operating expenses grew 8% against a revenue fall of 5%. The fastest-growing cost line was Other operating costs (+234%). The quarter ended with a net loss of $324K, after a profit of $1.1M the previous quarter. Non-operating items added $1.2M, -79% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $7.9M (down 60% year over year). Non-cash charges added back $5.0M of depreciation and amortization and $8.5M of share-based compensation. Working capital and other items used $5.3M. Capital expenditures of $5.1M left free cash flow of $2.8M.
Questions
What was Veeco Instruments' revenue in the first quarter 2026?
Veeco Instruments (VECO) reported revenue of $158M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -4% from the quarter before.
Was Veeco Instruments profitable in the first quarter 2026?
Operating loss was $2.7M (-1.7% of revenue) and net loss $324K.
Source: Veeco Instruments 10-Q on SEC EDGAR.