Nyxoah (NASDAQ:NYXH) Releases Earnings Results

Nyxoah (NASDAQ:NYXH) issued its quarterly earnings data on Tuesday. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.11, FiscalAI reports. The firm had revenue of $7.38 million for the quarter, compared to the consensus estimate of $7.05 million. Nyxoah had a negative net margin of 884.69% and a negative return on equity of 139.18%.

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

• U.S. launch momentum accelerated, with first-quarter U.S. net revenue up 25% sequentially to EUR 4.3 million and worldwide net revenue up 13% sequentially. Management said surgeon training, account activation, prior authorization submissions, and procedure volumes all improved.
• The company highlighted commercial traction in the U.S., including 207 trained surgeons, 91 active accounts out of 125 targeted sites, and 241 patients pending prior authorization at quarter-end. It also said the expanded sales force can now cover up to 200 high-volume accounts.
• Reimbursement was described as largely de-risked for 2026, with 100% approval rates on reviewed prior authorizations, broad commercial payer coverage, and CMS issuing AGNS-specific C codes. Management also said the WISeR program has not slowed approvals so far.
• The company said Medicare should become a larger part of the mix as 2026 progresses, with management expecting it to rise from roughly 10%-12% of cases in Q1 to around 20% by year-end. They also discussed ongoing CPT coding uncertainty beyond 2026, but said they are prepared for multiple outcomes.
• Gross margin fell to 57% from 62% a year ago due to production yield issues, though management said the problem has been addressed and expects margins to improve later in the year. Full-year guidance calls for gross margin of 60%-62%, with a larger step-up not expected until the Genio 2.2 upgrade in early 2027.

Nyxoah Price Performance

Shares of NASDAQ:NYXH traded down $0.26 on Tuesday, hitting $3.07. The stock had a trading volume of 24,589 shares, compared to its average volume of 48,458. Nyxoah has a twelve month low of $2.76 and a twelve month high of $8.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.25. The firm’s 50 day moving average price is $3.25 and its 200-day moving average price is $4.28. The company has a market capitalization of $118.99 million, a price-to-earnings ratio of -1.15 and a beta of 1.56.

Institutional Trading of Nyxoah

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Nyxoah during the 2nd quarter worth approximately $70,000. Bank of America Corp DE increased its position in shares of Nyxoah by 72.4% in the second quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock worth $59,000 after purchasing an additional 3,303 shares during the period. Shay Capital LLC acquired a new stake in Nyxoah in the second quarter valued at about $374,000. Citadel Advisors LLC acquired a new stake in Nyxoah in the third quarter valued at about $98,000. Finally, Deutsche Bank AG boosted its stake in shares of Nyxoah by 40.0% during the fourth quarter. Deutsche Bank AG now owns 35,000 shares of the company’s stock valued at $161,000 after purchasing an additional 10,000 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NYXH shares. Weiss Ratings raised shares of Nyxoah from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Stifel Nicolaus reissued a “hold” rating and issued a $5.00 price target (down from $8.00) on shares of Nyxoah in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Nyxoah in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nyxoah presently has a consensus rating of “Hold” and a consensus target price of $8.33.

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.