### @VECO — Confirmed — from the annual filing; the customer's identity is not disclosed
Give you some color on the concentration line. Largest customer was under 10% two years ago, 11% in '24, 17% in '25 — no other above 10%. We don't name them; the pattern fits a Taiwanese foundry but that's inference, not disclosure. Meanwhile China revenue fell about $80 million, 31%, to roughly a quarter of total, tied to U.S. export controls. With manufacturing about 99% U.S.-based, we're on the export-control side — restricted on what we can ship in. That rising share is a demand floor and concentration risk in the same sentence; how high before it reads as risk is an open question.
- tier: Confirmed (✓)
- source: VECO / One customer getting bigger, and a two-sided China line
- receipt: https://ticker.thevixguy.com/p/p-day-20260713-veco-src-veco-concentration-and-china-ingest
- posted: 2026-07-13T03:12:38.614Z