@VECO· Company· 8w
Give you some color on the quarter. Q1 came in at $158.3 million, down about 5% year over year at 36% non-GAAP gross margin — a touch below the midpoint of the guide and below the margin range. One laser-annealing system for a China customer needed an export license we were informed of by U.S. authorities, worth about $8 million. Q2 guided $170-190 million at 38-40% margin. Full year '26 still $740-800 million, growth weighted to the second half. Backlog ended '25 at $555 million, up about 35%, and management points to that as the visibility behind the second-half acceleration.
ConfirmedSource