EXHIBIT 99.1

​

​

VEECO REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS

​

First Quarter 2025 Highlights:

​

​

Plainview, N.Y., May 7, 2025 -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its first quarter ended March 31, 2025. Results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and are also reported adjusting for certain items (“Non-GAAP”). A reconciliation between GAAP and Non-GAAP operating results is provided at the end of this press release.  

​

​

​

​

​

“Veeco delivered solid results during the first quarter, including sequential and year-over-year growth in our Semiconductor business driven by growth in Advanced Packaging,” commented Bill Miller, Ph.D., Veeco’s Chief Executive Officer. “In addition, Veeco shared several exciting announcements, including receipt of Intel’s 2025 EPIC supplier award, new application wins in Laser Annealing, and new application wins in Wet Processing. Each reflect our continued execution and confidence our long-term strategy can generate value for shareholders in the coming years.”

1

Guidance and Outlook

​

The following guidance is provided for Veeco’s second quarter 2025:

​

​

​

Conference Call Information

​

A conference call reviewing these results has been scheduled for today, May 7, 2025 starting at 5:00pm ET. To join the call, dial 1-877-407-8029 (toll-free) or 1-201-689-8029. Participants may also access a live webcast of the call by visiting the investor relations section of Veeco's website at ir.veeco.com. A replay of the webcast will be made available on the Veeco website that evening. We will post an accompanying slide presentation to our website prior to the beginning of the call.

​

About Veeco

​

Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.

​

Forward-looking Statements

​

This press release contains “forward-looking statements”, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements 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 current and future periods, our ongoing transformation initiative and the effects thereof on our operations and financial results; 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: the level of demand for our products; global economic and industry conditions; global trade issues, including the ongoing trade disputes between the U.S. and China, and changes in trade and export license policies; our dependency on third-party suppliers and outsourcing partners; the timing of customer orders; our ability to develop, deliver and support new products and technologies; our ability to expand our current markets, increase market share and develop new markets; the concentrated nature of our customer base; our ability to obtain and protect intellectual property rights in key technologies; the effects of regional or global health epidemics; our ability to achieve the objectives of operational and strategic initiatives and attract, motivate and retain key employees; the variability of results among products and end-markets, and our ability to accurately forecast future results, market conditions, and customer requirements; the impact of our indebtedness, including our convertible senior notes and our capped call transactions; and other risks and uncertainties described in our SEC filings on Forms 10-K, 10-Q and 8-K, and from time-to-time in our other SEC reports. All forward-looking statements speak only to management’s expectations, estimates, projections and assumptions as of the date of this press release or, in the case of any document referenced herein or incorporated by reference, the date of that document. The Company does not undertake any obligation to update or publicly revise any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

​

-financial tables attached-

Veeco Contacts:

​

Investors:Anthony Pappone (516) 500-8798[email protected]

Media:Brenden Wright (410) 984-2610[email protected]

​

2

Veeco Instruments Inc. and Subsidiaries
Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)
(unaudited)

​

​

3

Veeco Instruments Inc. and Subsidiaries
Condensed Consolidated Balance Sheets

(in thousands)

​

Note on Reconciliation Tables

​

The below tables include financial measures adjusted for the impact of certain items; these financial measures are therefore not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). These Non-GAAP financial measures exclude items such as: share-based compensation expense; charges relating to restructuring initiatives; non-cash asset impairments; certain other non-operating gains and losses; and acquisition-related items such as transaction costs, non-cash amortization of acquired intangible assets, and certain integration costs.

These Non-GAAP financial measures may be different from Non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, Non-GAAP financial measures are intended to facilitate meaningful comparisons to historical operating results, competitors’ operating results, and estimates made by securities analysts. Management is evaluated on key performance metrics including Non-GAAP Operating income (loss), which is used to determine management incentive compensation as well as to forecast future periods. These Non-GAAP financial measures may be useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, similar Non-GAAP financial measures have historically been reported to investors; the inclusion of comparable numbers provides consistency in financial reporting. Investors are encouraged to review the reconciliation of the Non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures.

4

​

Reconciliation of GAAP to Non-GAAP Financial Data (Q1 2025)

(in thousands)
(unaudited)

Other Non-GAAP Adjustments (Q1 2025)

(in thousands)
(unaudited)

Net Income per Common Share (Q1 2025)

(in thousands, except per share amounts)
(unaudited)

⁽¹⁾  -  The non-GAAP incremental dilutive shares includes the impact of the Company’s capped call transaction issued concurrently with our 2027 Notes, and as such, an effective conversion price of $18.46 is used when determining incremental shares to add to the dilutive share count. The GAAP incremental dilutive shares does not include the impact of the Company’s capped call transaction, and as such, an effective conversion price of $13.98 is used when determining incremental shares to add to the dilutive share count.

​

5

Reconciliation of GAAP to Non-GAAP Financial Data (Q1 2024)

(in thousands)
(unaudited)

​

Other Non-GAAP Adjustments (Q1 2024)

(in thousands)
(unaudited)

​

​

Net Income per Common Share (Q1 2024)

(in thousands, except per share amounts)
(unaudited)

​

6

​

​

Reconciliation of GAAP Net Income to Non-GAAP Operating Income (Q1 2025 and 2024)

(in thousands)
(unaudited)

​

Reconciliation of GAAP to Non-GAAP Financial Data (Q2 2025)

(in millions, except per share amounts)

(unaudited)

​

​

7

Income per Diluted Common Share (Q2 2025)

(in millions, except per share amounts)
(unaudited)

​

⁽¹⁾    - The non-GAAP incremental dilutive shares includes the impact of the Company’s capped call transaction issued concurrently with our 2027 Notes, and as such, an effective conversion price of $18.46 is used when determining incremental shares to add to the dilutive share count. The GAAP incremental dilutive shares does not include the impact of the Company’s capped call transaction, and as such, an effective conversion price of $13.98 is used when determining incremental shares to add to the dilutive share count.

​

​

Reconciliation of GAAP Net Income to Non-GAAP Operating Income (Q2 2025)

(in millions)
(unaudited)

​

​

Note: Amounts may not calculate precisely due to rounding.

8