Nyxoah (NASDAQ:NYXH) Announces Earnings Results

Nyxoah (NASDAQ:NYXH) announced its quarterly earnings results on Wednesday. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.20), Zacks reports. Nyxoah had a negative net margin of 443.16% and a negative return on equity of 178.90%. The company had revenue of $8.76 million during the quarter, compared to the consensus estimate of $8.64 million.

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

• U.S. commercialization accelerated: Q2 worldwide revenue rose 21% sequentially to €7.7 million, including 22% U.S. growth to €5.2 million. Active U.S. accounts doubled to 180, while 427 patients were under prior authorization entering Q3, up 77% sequentially.
• Reimbursement support strengthened: CMS proposed 2027 reimbursement increases of approximately 12% for hospital outpatient facilities and 15% for ambulatory surgery centers for Genio procedures. Nyxoah also reported a 100% prior-authorization approval rate across commercial, Medicare Advantage, and WISeR-submitted Medicare patients.
• Balance sheet improved materially: The company secured $110 million through a $95 million equity raise and a $15 million EIB loan drawdown, providing funding to expand its U.S. sales organization and patient-funnel initiatives.
• Full-year guidance was maintained: Nyxoah continues to expect 2026 revenue of €36 million–€40 million and gross margin of 60%–62%, with U.S. revenue expected to grow sequentially in both Q3 and Q4 while international revenue remains broadly stable.
• Operating expenses remain elevated: Q2 operating expenses increased to €25.1 million, including higher selling, general and administrative costs from the U.S. commercial build-out, while the company reported a €20.6 million operating loss. Full-year operating-expense guidance increased by €1 million to €99 million–€102 million due to a one-time share-based compensation charge.

Nyxoah Stock Up 12.2%

NYXH traded up $0.16 during trading hours on Friday, hitting $1.47. 82,956 shares of the company’s stock were exchanged, compared to its average volume of 143,354. The stock has a market cap of $56.98 million, a price-to-earnings ratio of -0.58 and a beta of 1.62. Nyxoah has a 1-year low of $1.26 and a 1-year high of $8.59. The stock’s 50-day moving average is $1.66 and its two-hundred day moving average is $2.95. The company has a quick ratio of 0.88, a current ratio of 2.38 and a debt-to-equity ratio of 0.44.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NYXH shares. Oppenheimer set a $4.00 target price on shares of Nyxoah in a research note on Thursday. Robert W. Baird set a $2.31 price target on Nyxoah in a research note on Thursday. Wall Street Zen upgraded Nyxoah to a “hold” rating in a report on Saturday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $6.00 price objective (down from $7.00) on shares of Nyxoah in a research report on Thursday. Finally, Stifel Nicolaus decreased their price objective on Nyxoah from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.26.

Institutional Trading of Nyxoah

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Nyxoah by 72.4% in the second quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock valued at $59,000 after purchasing an additional 3,303 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Nyxoah during the 2nd quarter worth approximately $70,000. Citadel Advisors LLC bought a new stake in shares of Nyxoah during the 3rd quarter worth approximately $98,000. Deutsche Bank AG boosted its holdings in shares of Nyxoah by 40.0% in the 4th 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 last quarter. Finally, Shay Capital LLC acquired a new stake in shares of Nyxoah in the 2nd quarter valued at approximately $374,000.

About Nyxoah

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.