Veeco Instruments (VECO) Q3 FY2026 earnings: revenue $209 million, up 26.2% on the year

Veeco Instruments Inc. (VECO) reported revenue of $209 million for Q3 FY2026, the quarter ended 30 September 2026, up 26.2% on the same quarter a year earlier. Net income was $14 million, up 28.7% on the year, and diluted earnings per share $0.21. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$209 million

+26.2% on the year · +8.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

6.7%

6.4% a year earlier

Q4 FY2024Q3 FY2026

Net income

$14 million

+28.7% on the year · +15.0% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.21

+23.5% on the year · +16.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 3 lowered, 1 narrowed, 5 new.

Net sales rose about 26%: Net sales were $209.4 million against $165.9 million a year earlier, up about 26%. Nine-month net sales were $561.2 million against $499.3 million.
GAAP and non-GAAP EPS compared: GAAP net income was $13.6 million, or $0.21 diluted EPS, against $10.6 million and $0.17. Non-GAAP net income was $24.1 million, or $0.36, against $21.8 million and $0.36.
AI investment accelerating technology transitions: Management said AI infrastructure investment is accelerating technology transitions in leading-edge logic and memory, advanced packaging and high-speed optical connectivity.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	209	193	166	+8.2%	+26.2%
Cost of revenue	129	119	98.2	+8.7%	+31.4%
Gross profit	80.4	74.8	67.7	+7.4%	+18.7%
Gross margin	38.4%	38.7%	40.8%
Research and development	35.1	33.3	29.0	+5.1%	+20.9%
Selling, general and administrative	28.5	27.6	27.3	+3.3%	+4.7%
Operating income	14.1	11.9	10.6	+18.9%	+33.6%
Operating margin	6.7%	6.1%	6.4%
Interest expense	2.2	2.2	2.2	+0.0%	-0.0%
Pre-tax income	15.9	13.0	11.9	+22.0%	+33.8%
Income tax	2.2	1.2	1.3	+92.7%	+75.8%
Effective tax rate	14.2%	9.0%	10.8%
Net income	13.6	11.9	10.6	+15.0%	+28.7%
Net margin	6.5%	6.1%	6.4%
Diluted EPS	$0.21	$0.18	$0.17	+16.7%	+23.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	57.9	51.4	15.5	+12.6%	+272.9%
Capital expenditure	4.3	3.7	2.6	+16.7%	+67.9%
Free cash flow	53.6	47.7	13.0	+12.3%	+313.7%
Free cash flow margin	25.6%	24.7%	7.8%
Cash from investing	-66.9	-14.6	-12.1
Cash from financing	-0.2	-1.8	0.8
Depreciation and amortisation	4.9	4.9	4.9	+0.1%	+0.8%
Share-based compensation	8.4	9.2	9.1	-8.7%	-8.0%
Diluted shares, weighted	66m	67m	61m	-0.9%	+8.5%
Shares outstanding at period end	61m	61m	60m	+0.0%	+1.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	924	903	876	+2.3%	+5.5%
Debt	227	227	226	+0.1%	+0.5%
Operating lease liabilities	31.5	30.5	32.6	+3.3%	-3.6%
Other liabilities	323	255	156	+27.0%	+107.9%
Total liabilities and equity	1,506	1,414	1,290	+6.4%	+16.7%
Fixed assets	116	110	109	+5.3%	+6.5%
Goodwill	215	215	215	0.0%	0.0%
Intangible assets	4.0	4.4	6.4	-9.4%	-38.1%
Investments	277	215	176	+29.0%	+57.4%
Cash and equivalents	205	214	193	-4.3%	+6.3%
Receivables	154	148	116	+3.8%	+32.3%
Inventory	308	292	263	+5.4%	+17.1%
Other assets	226	215	210	+5.2%	+7.3%
Total assets	1,506	1,414	1,290	+6.4%	+16.7%

Questions

What was Veeco Instruments' revenue in Q3 FY2026?

Veeco Instruments (VECO) reported revenue of $209 million for Q3 FY2026, the quarter ended 30 September 2026, up 26.2% on the same quarter a year earlier.

How much did Veeco Instruments earn in Q3 FY2026?

Net income for Q3 FY2026 was $14 million, up 28.7% on the year, and diluted earnings per share $0.21.

When did Veeco Instruments report Q3 FY2026 results?

Veeco Instruments filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	153	156	164	172	154	154	162	177	174	174	176	185	182	167	166	166	165	158	193	209
Cost of revenue	88.9	90.4	99.7	102	90.9	91.5	94.1	100	95.3	99.1	100	106	108	98.8	97.4	98.2	105	103	119	129
Gross profit	64.0	66.0	64.3	70.0	62.9	62.0	67.5	76.9	78.7	75.4	75.4	79.2	74.0	68.5	68.7	67.7	60.5	55.8	74.8	80.4
Gross margin	42%	42%	39%	41%	41%	40%	42%	43%	45%	43%	43%	43%	41%	41%	41%	41%	37%	35%	39%	38%
R&D	22.3	24.1	26.0	27.1	26.3	27.6	27.4	28.8	29.1	29.6	31.7	32.2	31.0	28.5	31.6	29.0	30.6	29.9	33.3	35.1
SG&A	21.2	22.9	22.9	22.1	21.0	22.6	23.8	22.8	23.5	24.7	24.6	25.3	25.1	25.0	23.9	27.3	22.7	26.0	27.6	28.5
Operating income	17.6	16.5	12.8	17.6	13.4	9.8	13.7	22.3	24.2	22.0	16.7	24.3	3.9	14.1	12.4	10.6	-1.4	-2.7	11.9	14.1
Operating margin	12%	11%	8%	10%	9%	6%	8%	13%	14%	13%	10%	13%	2%	8%	7%	6%	-1%	-2%	6%	7%
Interest expense	7.7	2.9	2.8	2.9	2.9	2.9	3.1	2.8	3.1	2.6	2.8	2.9	2.8	2.5	2.3	2.2	2.2	2.1	2.2	2.2
Pre-tax income	6.8	13.7	10.2	15.2	11.8	9.0	-84.0	22.5	24.2	22.8	17.1	24.7	4.4	15.0	12.6	11.9	-0.1	-1.5	13.0	15.9
Tax rate	-20%	3%	5%	1%	-989%	3%	n/a	-9%	11%	4%	12%	11%	-244%	20%	7%	11%	n/a	n/a	9%	14%
Net income	8.2	13.3	9.7	15.0	129	8.7	-85.3	24.6	21.6	21.9	14.9	22.0	15.0	11.9	11.7	10.6	1.1	-0.3	11.9	13.6
Net margin	5%	9%	6%	9%	84%	6%	-53%	14%	12%	13%	8%	12%	8%	7%	7%	6%	1%	-0%	6%	7%
Diluted EPS	$0.15	$0.24	$0.18	$0.27	$2.00	$0.17	-$1.61	$0.42	$0.37	$0.37	$0.25	$0.36	$0.26	$0.20	$0.20	$0.17	$0.02	-$0.01	$0.18	$0.21
Operating cash flow	17.1	24.8	3.4	47.2	33.1	13.9	11.2	7.1	29.5	9.4	8.5	17.6	28.4	20.0	9.0	15.5	24.9	7.9	51.4	57.9
Capital expenditure	9.2	10.9	4.5	6.4	2.8	6.9	3.9	6.4	10.7	6.0	3.0	4.0	5.2	6.8	3.6	2.6	3.3	5.1	3.7	4.3
Free cash flow	7.9	13.9	-1.1	40.9	30.3	7.0	7.3	0.7	18.8	3.4	5.5	13.6	23.2	13.2	5.4	13.0	21.7	2.8	47.7	53.6
Shares outstanding	51m	51m	51m	51m	52m	52m	56m	56m	56m	57m	57m	57m	57m	58m	60m	60m	60m	61m	61m	61m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.