Assets (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Assets |
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| Schedule of portion of Veeco's assets (excluding cash balances) that are measured at fair value on a recurring basis |
| | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | | | | (in thousands) | March 31, 2025 | | | | | | | | | | | | | Cash equivalents | | | | | | | | | | | | | Certificate of deposits and time deposits | | $ | 67,362 | | $ | — | | $ | — | | $ | 67,362 | Government agency securities | | | — | | | 1,998 | | | — | | | 1,998 | U.S. treasuries | | | 9,974 | | | — | | | — | | | 9,974 | Money market cash | | | 21,866 | | | — | | | — | | | 21,866 | Total | | $ | 99,202 | | $ | 1,998 | | $ | — | | $ | 101,200 | Short-term investments | | | | | | | | | | | | | U.S. treasuries | | $ | 52,922 | | $ | — | | $ | — | | $ | 52,922 | Government agency securities | | | — | | | 44,036 | | | — | | | 44,036 | Corporate debt | | | — | | | 79,952 | | | — | | | 79,952 | Commercial paper | | | — | | | 1,485 | | | — | | | 1,485 | Total | | $ | 52,922 | | $ | 125,473 | | $ | — | | $ | 178,395 | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | Cash equivalents | | | | | | | | | | | | | Certificate of deposits and time deposits | | $ | 66,023 | | $ | — | | $ | — | | $ | 66,023 | Money market cash | | | 15,003 | | | — | | | — | | | 15,003 | Total | | $ | 81,026 | | $ | — | | $ | — | | $ | 81,026 | Short-term investments | | | | | | | | | | | | | U.S. treasuries | | $ | 84,032 | | $ | — | | $ | — | | $ | 84,032 | Government agency securities | | | — | | | 30,167 | | | — | | | 30,167 | Corporate debt | | | — | | | 83,051 | | | — | | | 83,051 | Commercial paper | | | — | | | 1,469 | | | — | | | 1,469 | Total | | $ | 84,032 | | $ | 114,687 | | $ | — | | $ | 198,719 |
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| Schedule of amortized cost and fair value of available-for-sale securities |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | Amortized | | Unrealized | | Unrealized | | Estimated | | | Cost | | Gains | | Losses | | Fair Value | | | | (in thousands) | March 31, 2025 | | | | | | | | | | | | | U.S. treasuries | | $ | 52,906 | | $ | 26 | | $ | (10) | | $ | 52,922 | Government agency securities | | | 44,067 | | | 8 | | | (39) | | | 44,036 | Corporate debt | | | 80,018 | | | 24 | | | (90) | | | 79,952 | Commercial paper | | | 1,485 | | | — | | | — | | | 1,485 | Total | | $ | 178,476 | | $ | 58 | | $ | (139) | | $ | 178,395 | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | U.S. treasuries | | $ | 84,008 | | $ | 45 | | $ | (21) | | $ | 84,032 | Government agency securities | | | 30,244 | | | 13 | | | (90) | | | 30,167 | Corporate debt | | | 83,209 | | | 17 | | | (175) | | | 83,051 | Commercial paper | | | 1,469 | | | — | | | — | | | 1,469 | Total | | $ | 198,930 | | $ | 75 | | $ | (286) | | $ | 198,719 |
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| Schedule of fair value and unrealized losses of available-for-sale securities in a loss position |
| | | | | | | | | | | | | | | Continuous Loss Position | | Continuous Loss Position | | | for Less than 12 Months | | for 12 Months or More | | | | | | Gross | | | | | Gross | | | Estimated | | Unrealized | | Estimated | | Unrealized | | | Fair Value | | Losses | | Fair Value | | Losses | | | | | (in thousands) | March 31, 2025 | | | | | | | | | | | | | U.S. treasuries | | $ | 31,249 | | $ | (10) | | $ | — | | $ | — | Government agency securities | | | 38,128 | | | (39) | | | — | | | — | Corporate debt | | | 51,294 | | | (90) | | | — | | | — | Total | | $ | 120,671 | | $ | (139) | | $ | — | | $ | — | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | U.S. treasuries | | $ | 26,756 | | $ | (21) | | $ | — | | $ | — | Government agency securities | | | 20,062 | | | (90) | | | — | | | — | Corporate debt | | | 58,967 | | | (175) | | | — | | | — | Total | | $ | 105,785 | | $ | (286) | | $ | — | | $ | — |
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| Schedule of contractual maturities of securities classified as available-for-sale |
| | | | | | | | | March 31, 2025 | | | Amortized | | Estimated | | | Cost | | Fair Value | | | | | (in thousands) | Due in one year or less | | $ | 113,581 | | $ | 113,515 | Due after one year through two years | | | 64,895 | | | 64,880 | Total | | $ | 178,476 | | $ | 178,395 |
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| Schedule of inventories |
| | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | | | | (in thousands) | Materials | | $ | 132,909 | | $ | 129,178 | Work-in-process | | | 87,726 | | | 88,361 | Finished goods | | | 6,950 | | | 3,016 | Evaluation inventory | | | 26,466 | | | 26,180 | Total | | $ | 254,051 | | $ | 246,735 |
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| Schedule of property, plant, and equipment |
| | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | | | | (in thousands) | Land | | $ | 5,061 | | $ | 5,061 | Building and improvements | | | 61,527 | | | 61,504 | Machinery and equipment (1) | | | 194,117 | | | 190,810 | Leasehold improvements | | | 54,641 | | | 53,759 | Gross property, plant, and equipment | | | 315,346 | | | 311,134 | Less: accumulated depreciation and amortization | | | 201,559 | | | 197,345 | Property, plant, and equipment, net | | $ | 113,787 | | $ | 113,789 |
| (1) | Machinery and equipment also includes software, furniture and fixtures |
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| Schedule of intangible assets excluding goodwill |
| | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | | | | | | Accumulated | | | | | | | | Accumulated | | | | | | Gross | | Amortization | | | | Gross | | Amortization | | | | | Carrying | | and | | Net | | Carrying | | and | | Net | | | Amount | | Impairment | | Amount | | Amount | | Impairment | | Amount | | | | (in thousands) | Technology | | $ | 355,928 | | $ | 354,446 | | $ | 1,482 | | $ | 355,928 | | $ | 354,066 | | $ | 1,862 | Customer relationships | | | 146,925 | | | 140,397 | | | 6,528 | | | 146,925 | | | 139,955 | | | 6,970 | Trademarks and tradenames | | | 30,910 | | | 30,910 | | | — | | | 30,910 | | | 30,910 | | | — | Other | | | 3,746 | | | 3,746 | | | — | | | 3,746 | | | 3,746 | | | — | Total | | $ | 537,509 | | $ | 529,499 | | $ | 8,010 | | $ | 537,509 | | $ | 528,677 | | $ | 8,832 |
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