Nyxoah (NASDAQ:NYXH) Posts Earnings Results, Beats Expectations By $0.11 EPS

Nyxoah (NASDAQ:NYXH) posted its quarterly earnings data on Tuesday. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.11, FiscalAI reports. The business had revenue of $7.38 million during the quarter, compared to analysts’ expectations of $7.05 million. Nyxoah had a negative return on equity of 149.24% and a negative net margin of 543.21%.

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 NYXH traded down $0.10 during trading hours on Thursday, hitting $2.99. 44,077 shares of the stock were exchanged, compared to its average volume of 48,174. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.25. Nyxoah has a 12-month low of $2.76 and a 12-month high of $8.64. The company has a market cap of $115.70 million, a price-to-earnings ratio of -1.20 and a beta of 1.56. The stock’s 50-day moving average price is $3.21 and its two-hundred day moving average price is $4.24.

Institutional Trading of Nyxoah

Several large investors have recently added to or reduced their stakes in the stock. Heights Capital Management Inc. purchased a new stake in Nyxoah in the 4th quarter valued at $3,575,000. Deutsche Bank AG grew its holdings in 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 in the last quarter. Citadel Advisors LLC purchased a new stake in Nyxoah in the 3rd quarter valued at $98,000. Bank of America Corp DE grew its holdings in Nyxoah by 152.7% in the 3rd quarter. Bank of America Corp DE now owns 19,878 shares of the company’s stock valued at $91,000 after buying an additional 12,012 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings 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 buying an additional 3,353 shares in the last quarter.

Wall Street Analyst Weigh In

NYXH has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $7.00 price objective (down from $9.00) on shares of Nyxoah in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of Nyxoah in a research report on Monday, March 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $5.00 price target (down from $8.00) on shares of Nyxoah in a research report on Tuesday. Finally, Weiss Ratings upgraded Nyxoah from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. 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.com, the company has an average rating of “Hold” and a consensus target price of $7.67.

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.