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Segment Reporting and Geographic Information

3 Months Ended

Mar. 31, 2022

Segment Reporting and Geographic Information

Segment Reporting and Geographic Information

Note 10 — Segment Reporting and Geographic Information

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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.

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Veeco categorizes its sales into the following four end-markets:

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Semiconductor

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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.

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Compound Semiconductor

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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.

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Data Storage

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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.

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Scientific & Other

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

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Sales by end-market and geographic region for the three months ended March 31, 2022 and 2021 were as follows:

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​	​	​	​	​	​	​	​	​
​	​	Three months ended March 31,					​	​
​		2022		​	2021
​	​	(in thousands)						​
Sales by end-market	​	​	​	​	​	​	​	​
Semiconductor	​	$	77,620	​	$	51,631	​	​
Compound Semiconductor	​	​	37,109	​	​	24,751	​	​
Data Storage	​		21,595	​		40,980	​	​
Scientific & Other	​		20,102	​		16,352	​	​
Total	​	$	156,426	​	$	133,714	​	​
Sales by geographic region	​	​	​	​	​	​	​	​
United States	​	$	47,471	​	$	45,162	​	​
EMEA(1)	​	​	21,425	​	​	13,625	​	​
China	​	​	30,381	​	​	20,007	​	​
Rest of APAC	​	​	56,922	​	​	54,877	​	​
Rest of World	​		227	​		43	​	​
Total	​	$	156,426	​	$	133,714	​	​

(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.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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