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Investments | 12 Months Ended
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Dec. 31, 2023
Investments |
Investments | Note 4 — Investments ​ At December 31, 2023 and 2022 the amortized cost and fair value of marketable securities, which are included in “Short-term investments” on the Consolidated Balance Sheets, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Estimated
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value
​ | ​ | (in thousands)
December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. treasuries | ​ | $ | 59,541 | ​ | $ | 3 | ​ | $ | (51) | ​ | $ | 59,493
Government agency securities | ​ | ​ | 41,843 | ​ | ​ | 6 | ​ | ​ | (31) | ​ | ​ | 41,818
Corporate debt | ​ | ​ | 35,447 | ​ | ​ | 9 | ​ | ​ | (47) | ​ | ​ | 35,409
Commercial paper | ​ | ​ | 9,944 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,944
Total | ​ | $ | 146,775 | ​ | $ | 18 | ​ | $ | (129) | ​ | $ | 146,664
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
​ Available-for-sale securities in a loss position at December 31, 2023 and 2022 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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)
December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. treasuries | ​ | $ | 43,118 | ​ | $ | (50) | ​ | $ | — | ​ | $ | —
Government agency securities | ​ | ​ | 34,885 | ​ | ​ | (31) | ​ | ​ | — | ​ | ​ | —
Corporate debt | ​ |  | 23,262 | ​ |  | (33) | ​ |  | 2,618 | ​ |  | (15)
Total | ​ | $ | 101,265 | ​ | $ | (114) | ​ | $ | 2,618 | ​ | $ | (15)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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)
​ The contractual maturities of securities classified as available-for-sale at December 31, 2023 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | Amortized | ​ | Estimated
​ | ​ | Cost | ​ | Fair Value
​ | ​ | ​ | (in thousands)
Due in one year or less | ​ | $ | 132,419 | ​ | $ | 132,330
Due after one year through two years | ​ | ​ | 14,356 | ​ |  | 14,334
Total | ​ | $ | 146,775 | ​ | $ | 146,664
​ Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The realized gains or losses for the years ended December 31, 2023, 2022, and 2021 were immaterial. ​ Other Investments ​ Veeco has an ownership interest of less than 20% in a non-marketable investment in a separate entity, with a carrying value of $2.0 million at December 31, 2023 and 2022. The Company does not exert significant influence over this entity. This equity investment does not have a readily observable market price, and therefore the Company has elected to measure this investment at cost, adjusted for changes in observable market prices minus impairment. The investment is included in “Other assets” on the Consolidated Balance Sheets. The investment is subject to periodic impairment reviews which require judgment. The analyses include assessments of the companies’ financial condition, the business outlooks for their products and technologies, their projected results and cash flows, business valuation indications from recent rounds of financing, the likelihood of obtaining subsequent rounds of financing, and the impact of equity preferences held by Veeco relative to other investors. During the year ended December 31, 2021, the Company identified impairment indicators on the Company’s investment, and recorded a non-cash impairment charge of $1.0 million. This impairment charge was included in “Other income (expense), net” in the Consolidated Statement of Operations.

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