Assets (Tables)

9 Months Ended

Sep. 30, 2023

Assets

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)
September 30, 2023
Cash equivalents
Certificate of deposits and time deposits	$	74,807	$	—	$	—	$	74,807
Corporate debt		—		724		—		724
Commercial paper		—		3,994		—		3,994
Money market cash		24,699		—		—		24,699
Total	$	99,506	$	4,718	$	—	$	104,224
Short-term investments
U.S. treasuries	$	23,886	$	—	$	—	$	23,886
Government agency securities		—		69,201		—		69,201
Corporate debt		—		20,231		—		20,231
Commercial paper		—		16,799		—		16,799
Total	$	23,886	$	106,231	$	—	$	130,117
December 31, 2022
Cash equivalents
Certificate of deposits and time deposits	$	61,135	$	—	$	—	$	61,135
Money market cash		405		—		—		405
Total	$	61,540	$	—	$	—	$	61,540
Short-term investments
U.S. treasuries	$	62,849	$	—	$	—	$	62,849
Government agency securities		—		27,366		—		27,366
Corporate debt		—		41,591		—		41,591
Commercial paper		—		15,682		—		15,682
Total	$	62,849	$	84,639	$	—	$	147,488

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)
September 30, 2023
U.S. treasuries	$	23,900	$	—	$	(14)	$	23,886
Government agency securities		69,345		—		(144)		69,201
Corporate debt		20,281		5		(55)		20,231
Commercial paper		16,799		—		—		16,799
Total	$	130,325	$	5	$	(213)	$	130,117
December 31, 2022
U.S. treasuries	$	63,331	$	—	$	(482)	$	62,849
Government agency securities		27,464		—		(98)		27,366
Corporate debt		42,006		—		(415)		41,591
Commercial paper		15,682		—		—		15,682
Total	$	148,483	$	—	$	(995)	$	147,488

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)
September 30, 2023
U.S. treasuries	$	20,892	$	(8)	$	2,994	$	(6)
Government agency securities		69,201		(144)		—		—
Corporate debt		17,163		(18)		2,587		(37)
Total	$	107,256	$	(170)	$	5,581	$	(43)
December 31, 2022
U.S. treasuries	$	39,791	$	(84)	$	23,057	$	(398)
Government agency securities		22,528		(86)		4,838		(12)
Corporate debt		19,693		(138)		21,898		(277)
Total	$	82,012	$	(308)	$	49,793	$	(687)

Schedule of contractual maturities of securities classified as available-for-sale

	September 30, 2023
	Amortized		Estimated
	Cost		Fair Value
		(in thousands)
Due in one year or less	$	116,504	$	116,351
Due after one year through two years		13,821		13,766
Total	$	130,325	$	130,117

Schedule of inventories

	September 30,		December 31,
	2023		2022
	(in thousands)
Materials	$	156,485	$	134,940
Work-in-process		86,349		68,765
Finished goods		9,286		3,203
Total	$	252,120	$	206,908

Schedule of property, plant, and equipment

	September 30,		December 31,
	2023		2022
	(in thousands)
Land	$	5,061	$	5,061
Building and improvements		61,064		64,198
Machinery and equipment (1)		177,519		155,533
Leasehold improvements		55,008		54,764
Gross property, plant, and equipment		298,652		279,556
Less: accumulated depreciation and amortization		180,439		172,275
Net property, plant, and equipment	$	118,213	$	107,281

(1) Machinery and equipment also includes software, furniture and fixtures

Schedule of changes in goodwill

	Gross carrying		Accumulated
	amount		impairment		Net amount
	(in thousands)
Balance at December 31, 2022	$	430,331	$	248,388	$	181,943
Acquisition		33,021		—		33,021
Balance at September 30, 2023	$	463,352	$	248,388	$	214,964

Schedule of intangible assets excluding goodwill

	September 30, 2023						December 31, 2022
			Accumulated						Accumulated
	Gross		Amortization				Gross		Amortization
	Carrying		and		Net		Carrying		and		Net
	Amount		Impairment		Amount		Amount		Impairment		Amount
	(in thousands)
Technology	$	355,928	$	320,671	$	35,257	$	327,908	$	316,918	$	10,990
Customer relationships		146,925		137,088		9,837		146,465		135,415		11,050
Trademarks and tradenames		30,910		29,968		942		30,910		29,063		1,847
Other		3,746		3,713		33		3,686		3,686		—
Total	$	537,509	$	491,440	$	46,069	$	508,969	$	485,082	$	23,887