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NASDAQ · SURGICAL & MEDICAL INSTRUMENTS & APPARATUS · MID CAP

Nyxoah SA NYXH

6 fiscal years on record · EUR · FY2025 reported · SEC filings only
€10.0M
▲ 121.6% YoY
€-90.1M
€-69.8M
In brief

What this company does

Our lead solution is the Genio system, a CE-Marked and FDA approved, patient-centric next generation hypoglossal neurostimulation, or HGNS, therapy for the treatment of moderate to severe OSA, implanted via a single-incision procedure. We started generating revenue from the sale of the Genio system in Europe in July 2020. On August 8, 2025, the FDA approved the Genio system for a subset of adult patients with moderate to severe OSA with an Apnea-Hypopnea Index, or AHI, of greater than or equal to 15 and less than or equal to 65, and we started generating revenue from the sale of the Genio system in the U.S. in September 2025.

Written from the business description in Nyxoah SA's annual report to the U.S. Securities and Exchange Commission, filed 26 March 2026. Every sentence was checked against that document before publication.

Growth
EUR 10.0M
Revenue, FY2025 · full 6-year series below
Revenue €M Net income €M
FY2025 · Revenue 10.0 · Net income -90.1
4M8M-40M-80M202020212022202320242025
Compound annual growth
+48.1%
+170.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +170.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−899 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -833.2% · Net -899.1%
-5000%-10000%-15000%202020212022202320242025
ROE
FY2025 · ROE -111.0%
-50%-100%202020212022202320242025

Each EUR of equity lost 111 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow €M
FY2025 · FCF -69.8
-25.0M-50.0M202020212022202320242025

Total assetsEUR 118.5M
EquityEUR 49.1M
CashEUR 30.0M
Current ratio1.25×

Equity funds 41% of total assets.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · EUR

The share count changed between 2019 and 2020, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative
Metric 202520242023202220212020
Revenue €B0.00.00.00.00.00.0
Operating income €B−0.1−0.1−0.0−0.0−0.0−0.0
EBITDA €B······
Income tax €B0.00.0−0.00.00.00.0
Net income €B−0.1−0.1−0.0−0.0−0.0−0.0
Free cash flow €B−0.1−0.1−0.0−0.0−0.0−0.0
EPS, diluted−2.36−1.81−1.54−1.21−1.16−0.68
Dividend / sh······
Payout %······
ROE %−111.0−56.1−39.6−23.2−18.6·
Shares out B0.040.040.030.030.030.02

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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Provenance
Company facts, as filed
How we verify · 0 failures in 29 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 66 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySurgical & Medical Instruments & Apparatus
Listed onNASDAQ
Incorporated inoutside the United States — SEC code C9
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2019

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