Nyxoah (NASDAQ:NYXH) Announces Quarterly Earnings Results

Nyxoah (NASDAQ:NYXH) issued its earnings results on Tuesday. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.11, FiscalAI reports. The company had revenue of $7.38 million during the quarter, compared to analyst estimates of $7.05 million. Nyxoah had a negative return on equity of 139.18% and a negative net margin of 884.69%.

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 Stock Performance

Shares of NASDAQ NYXH traded down $0.05 during mid-day trading on Wednesday, hitting $3.03. The company had a trading volume of 24,484 shares, compared to its average volume of 48,189. The stock has a market cap of $117.25 million, a price-to-earnings ratio of -1.13 and a beta of 1.56. Nyxoah has a 12 month low of $2.76 and a 12 month high of $8.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.25 and a quick ratio of 1.16. The firm’s 50 day simple moving average is $3.23 and its two-hundred day simple moving average is $4.26.

Institutional Trading of Nyxoah

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased its holdings in shares of Nyxoah by 35.6% during the third 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 period. Bank of America Corp DE grew its position in Nyxoah by 72.4% in the 2nd quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock valued at $59,000 after buying an additional 3,303 shares in the last quarter. Citadel Advisors LLC bought a new position in Nyxoah in the 3rd quarter valued at about $98,000. Deutsche Bank AG increased its stake in Nyxoah by 40.0% during 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 period. Finally, Shay Capital LLC acquired a new position in Nyxoah during the 2nd quarter valued at about $374,000.

Analyst Ratings Changes

Several brokerages have recently commented on NYXH. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of Nyxoah in a research report on Monday, March 23rd. Stifel Nicolaus reiterated a “hold” rating and issued a $5.00 target price (down from $8.00) on shares of Nyxoah in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $7.00 target price (down from $9.00) on shares of Nyxoah in a research report on Wednesday. Finally, Weiss Ratings raised Nyxoah from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.67.

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.