Segment Reporting and Geographic Information

9 Months Ended

Sep. 30, 2022

Segment Reporting and Geographic Information

Segment Reporting and Geographic Information

Note 10 — Segment Reporting and Geographic Information

Veeco operates and measures its results in one operating segment and therefore has one reportable segment: the development, manufacture, sales, and support of semiconductor and thin film process equipment primarily sold to make electronic devices.

Veeco serves the following four end-markets:

Semiconductor

The Semiconductor market refers to early process steps in logic and memory applications where silicon wafers are processed. There are many different process steps in forming patterned wafers, such as deposition, etching, masking, and doping, where the microchips are created but remain on the silicon wafer. This market includes mask blank production for extreme ultraviolet (“EUV”) lithography. This market also includes Advanced Packaging which refers to a portfolio of wafer-level assembly technologies that enable improved performance of electronic products, such as smartphones, high-end servers, and graphical processors.

Compound Semiconductor

The Compound Semiconductor market includes Photonics, Power Electronics, RF Filters and Amplifiers, and Solar applications. Photonics refers to light source technologies and laser-based solutions for 3D sensing, datacom and telecom applications. This includes micro-LED, laser diodes, edge emitting lasers and vertical cavity surface emitting lasers (“VCSELs”). Power Electronics refers to semiconductor devices such as rectifiers, inverters and converters for the

control and conversion of electric power in applications such as fast or wireless charging of consumer electronics and automotive applications. RF power amplifiers and filters (including surface acoustic wave (“SAW”) and bulk acoustic wave (“BAW”) filters) are used in 5G communications infrastructure, smartphones, tablets, and mobile devices. They make use of radio waves for wireless broadcasting and/or communications. Solar refers to power obtained by harnessing the energy of the sun through the use of compound semiconductor devices such as photovoltaics.

Data Storage

Data Storage refers to the Hard Disk Drive (“HDD”) market, for which our systems enable customers to manufacture thin film magnetic heads for hard disk drives as part of large capacity storage applications.

Scientific & Other

Scientific & Other refers to advanced materials research and a range of manufacturing applications including optical coatings (laser mirrors, optical filters, and anti-reflective coatings).

Sales by end-market and geographic region for the three and nine months ended September 30, 2022 and 2021 were as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)
Sales by end-market
Semiconductor	$	100,387	$	76,320	$	275,528	$	181,641
Compound Semiconductor		28,094		23,273		96,325		72,255
Data Storage		27,702		39,256		70,845		132,261
Scientific & Other		15,730		11,397		49,640		44,148
Total	$	171,913	$	150,246	$	492,338	$	430,305
Sales by geographic region
United States	$	53,747	$	48,776	$	159,157	$	160,908
EMEA(1)		17,562		13,564		66,221		36,128
China		36,193		27,261		95,071		68,148
Rest of APAC		64,259		60,589		170,526		164,926
Rest of World		152		56		1,363		195
Total	$	171,913	$	150,246	$	492,338	$	430,305

(1) EMEA consists of Europe, the Middle East, and Africa

For geographic reporting, sales are attributed to the location in which the customer facility is located.