Veeco reports its financial results for Q2 2023, with revenues of $162 million (towards the high-end of its guidance) with a net income of $24 million.
Veeco says it remains committed to its microLED opportunities, as its long-term outlook on the microLED industry is positive. In the short term, however, it has sold some GaN-on-Silicon tools, but it has seen market pushing out about a year, and does not expect any significant orders until 2025.
Overall Veeco comments that the microLED industry has the potential to be a large opportunity for Veeco.
Veeco developed 300 mm GaN-on-Silicon microLED deposition tools. In 2020, it announced that Aledia has selected the company's Propel 300mm HVM MOCVD system for its microLED production plant.