| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 6, 2026 | 9/12 | 1 high, 5 medium, 1 low flags | 3 | 2 | Call sheet → |
| Q1'26 | May 7, 2026 | 9/12 | 2 medium, 4 low flags | 1 | 0 | Call sheet → |
| Q4'25 | February 17, 2026 | 10/12 | 3 medium, 3 low flags | 6 | 0 | Call sheet → |
| Q3'25 | November 4, 2025 | 10/12 | 3 medium, 3 low flags | 4 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Continue to expect strong growth in memory for full year 2026 with momentum entering into 2027 2026 growth trajectory reaffirmed, but management now qualifies 2027 as 'a much lower growth rate', a material softening of the momentum framing. |
| Q2'26 | Pending | Pending VECO merger to close in the second half of 2026 Timeline reaffirmed unchanged this quarter; regulatory approval from China's SAMR still outstanding with no new specifics given. |
| Q2'26 | Pending | FY2026 revenue to be approximately flat compared to 2025 Fiscal year not yet complete; guidance was revised upward this quarter to year-over-year growth, a positive revision but not yet a delivered or missed outcome. |
| Q2'26 | Exceeded | Q2 2026 adjusted EBITDA of approximately $34 million Actual adjusted EBITDA was $36M. |
| Q2'26 | Missed | Q2 2026 operating expenses of approximately $59 million Actual opex was $60M, above guide due to higher variable compensation. |
| Q2'26 | Missed | Q2 2026 gross margin of approximately 43% Actual gross margin was 42.7%, attributed to CS&I mix and higher services costs. |
| Q2'26 | Exceeded | Q2 2026 EPS of approximately $0.90 Actual Q2 EPS was $1.06, though partly aided by a tax windfall and FX gain not embedded in the original guide. |
| Q2'26 | Exceeded | Q2 2026 revenue of approximately $205 million Actual Q2 revenue was $215M, beating guide by ~$10M. |
| Q1'26 | Pending | Tax rate approximately 15% for full year Q1 at 14%, on track |
| Q1'26 | Delivered | Operating expenses approximately $60M per quarter Q1 at $57.7M, Q2 guided to $59M, in line |
| Q1'26 | Pending | Full year gross margins in low to mid-40% range Q1 at 40.7%, Q2 guided to 43%, need improvement for full year |
| Q1'26 | Pending | 2026 revenue approximately flat compared to 2025 levels On track with Q1+Q2 guidance suggesting ~$838M full year |
| Q1'26 | Pending | Second half weighted revenue for 2026 Q1 and Q2 guidance suggest first half around $404M, needs H2 acceleration |
| Q1'26 | Pending | We expect strong growth in memory for full year 2026 Q1 delivered meaningful increase, on track so far |
| Q1'26 | Pending | We continue to expect closing in the second half of 2026 (Veeco merger) Reaffirmed same timeline, only China approval remaining |
| Q4'25 | Exceeded | Q4 gross margin approximately 43% Delivered 47.3% on favorable CS&I and upgrade mix |
| Q4'25 | Exceeded | Q4 non-GAAP EPS approximately $1.12 Delivered $1.49 vs $1.12 guide, significant outperformance |
| Q4'25 | Exceeded | Q4 revenue approximately $215M Delivered $238M, beat by $23M primarily on stronger CS&I |
| Q4'25 | Delivered | China revenue to decline sequentially in Q4 China dropped from 46% to 32% of total revenue as expected |
| Q4'25 | Delivered | Memory sequential increase in Q4 revenue Memory revenue did increase sequentially as predicted |
| Q4'25 | Exceeded | Bookings to improve sequentially in Q4 Delivered $128M vs $52M in Q3, significantly better than expected |
| Q3'25 | Delivered | Q2: Share repurchases at elevated rate vs historical $15M/quarter $32M in Q3 repurchases confirms elevated pace commitment |
| Q3'25 | Missed | Q2: Non-GAAP tax rate approximately 15% for balance of year Q3 came in at 14%, Q4 guided to 15%, so running slightly better |
| Q3'25 | Exceeded | Q2: Continued focus on cost structure optimization Voluntary retirement program and $3M OpEx beat in Q3 show aggressive cost management |
| Q3'25 | Delivered | Q2: Memory to remain muted for balance of year Memory still minimal but showing Q4 sequential improvement as expected |
| Q3'25 | Delivered | Q2: China revenue to be relatively similar in second half vs first half China exposure dropping as promised, managing the digestion period |
| Q3'25 | Pending | Q2: Second half 2025 revenue slightly up compared to first half Q3 was $214M vs Q2 $195M, Q4 guided to $215M, so tracking toward delivery |
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