Nyxoah (NASDAQ:NYXH) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Nyxoah (NASDAQ:NYXH) issued its quarterly earnings data on Thursday. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03), Zacks reports. The company had revenue of $6.62 million for the quarter, compared to analyst estimates of $5.70 million. Nyxoah had a negative return on equity of 128.85% and a negative net margin of 884.69%.

Here are the key takeaways from Nyxoah’s conference call:

• The company received FDA approval for Genio in August 2025, secured Medicare and broad commercial reimbursement, and quickly generated U.S. revenue (about $4.5M in Q4) contributing to EUR 11M global gross revenue and ~EUR 10M net revenue for 2025 with ~63–64% gross margin.
• Commercial execution accelerated: 145 surgeons trained across ~125 targeted accounts, 120 Value Analysis Committee submissions with 57 approvals, and the U.S. sales force expanded from 25 to 40 reps now covering ~200 of the top 400 accounts.
• Clinical and regulatory catalysts are in progress — the DREAM pivotal study was published showing efficacy in supine and non‑supine positions, and 12‑month ACCCESS data are expected by end‑June 2026 to support a PMA supplement and potential U.S. label expansion in early 2027.
• Profitability and cash runway remain challenges: 2025 operating loss widened to EUR 83.5M, cash totaled EUR 48M at year‑end, management estimates ~EUR 20M quarterly cash burn and says current funding supports operations into Q1 2027 absent faster revenue ramp or additional financing.

Nyxoah Stock Down 0.3%

Shares of NYXH stock traded down $0.01 during trading on Friday, reaching $3.08. The company’s stock had a trading volume of 160,797 shares, compared to its average volume of 59,698. Nyxoah has a one year low of $3.02 and a one year high of $11.87. The business has a fifty day moving average price of $4.33 and a 200-day moving average price of $4.84. The company has a market cap of $104.90 million, a price-to-earnings ratio of -1.15 and a beta of 1.56. The company has a quick ratio of 1.41, a current ratio of 1.70 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Nyxoah

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. lifted its stake in Nyxoah by 35.6% in the 3rd quarter. Raymond James Financial Inc. now owns 12,762 shares of the company’s stock valued at $59,000 after purchasing an additional 3,353 shares during the last quarter. Bank of America Corp DE increased its position in Nyxoah by 72.4% during the second quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock worth $59,000 after buying an additional 3,303 shares during the last quarter. Citadel Advisors LLC bought a new stake in Nyxoah in the third quarter valued at approximately $98,000. Deutsche Bank AG raised its stake in Nyxoah by 40.0% in the fourth quarter. Deutsche Bank AG now owns 35,000 shares of the company’s stock valued at $161,000 after buying an additional 10,000 shares during the period. Finally, Shay Capital LLC acquired a new stake in shares of Nyxoah in the second quarter valued at approximately $374,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NYXH. Cantor Fitzgerald upgraded Nyxoah to a “strong-buy” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Nyxoah in a report on Monday, December 29th. Finally, Stifel Nicolaus reduced their price objective on Nyxoah from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.33.

Nyxoah News Summary

Here are the key news stories impacting Nyxoah this week:

• Positive Sentiment: Company reports strong U.S. launch momentum: first full quarter of U.S. commercialization drove 347% YoY net revenue growth (Q4 net revenue €5.6M), 145 surgeons trained, 57 U.S. accounts activated, consistent reimbursement to date, and plans to expand manufacturing to support growth — bolstering medium-term commercial outlook. Nyxoah Reports Fourth Quarter and Full Year 2025 Financial and Operating Results
• Positive Sentiment: Q4 revenue topped some estimates (reported ~€5.6M net / $6.62M reported in USD), reinforcing that commercial ramp is translating into sales and supporting the company’s stated 2026 growth trajectory. Nyxoah SA (NYXH) Q4 2025 Earnings Call Highlights: U.S. Launch Success and Financial Challenges
• Neutral Sentiment: Stifel lowered its price target from $11 to $10 but kept a Buy rating — this trims upside in models but maintains institutional confidence in the commercial story. Benzinga
• Neutral Sentiment: Shareholding disclosure: Robert Taub / Robelga SRL filed a transparency notification after Robelga SRL crossed above the 3% threshold; group ownership reportedly unchanged — a minor governance/ownership update. Publication relating to transparency notifications
• Negative Sentiment: Earnings miss and heavy losses: reported EPS around ($0.69) slightly missed consensus (~$0.65) and the company still shows very negative margins and ROE, underscoring ongoing cash consumption and near-term profitability risk. Nyxoah Q4 Earnings Report / Transcript
• Negative Sentiment: Analyst/media coverage highlights the loss and EPS miss, which can pressure valuation and keep volatility elevated until consistent profitability or clear guidance is provided. Zacks: Nyxoah SA Reports Q4 Loss, Misses Revenue Estimates

Nyxoah Company Profile

Nyxoah SA, headquartered in Mont-Saint-Guibert, Belgium, is a medical technology company focused on neuromodulation therapies for sleep‐disordered breathing. Established in 2018, the company’s primary offering is the Genio® system, a minimally invasive bilateral hypoglossal nerve stimulator designed to treat moderate to severe obstructive sleep apnea (OSA). By electrically stimulating the genioglossus muscle, the device helps maintain airway patency during sleep, reducing apnea events and improving overall sleep quality.

The Genio system comprises a small, implantable stimulator positioned submentally and an external activation unit worn by the patient.