Nyxoah S.A. (NYXH) AI Stock Analysis

Nyxoah S.A. is a medical technology company dedicated to advancing solutions for sleep disordered breathing conditions. Founded in 2009 and based in Mont-Saint-Guibert, Belgium, the company developed the Genio system, a CE-Marked therapy designed for moderate to severe obstructive sleep apnea. The technology uses hypoglossal neurostimulation, addressing root causes of sleep apnea to improve breathing and sleep quality. With 153 employees, Nyxoah collaborates with global healthcare professionals and institutions to advance clinical research, seeking to provide minimally invasive therapies that alleviate symptoms and support long-term patient health.

Nyxoah grew revenue from $852,000 in FY2021 to $3.1M in FY2022, $4.3M in FY2023, $4.5M in FY2024, and $10.0M in FY2025, achieving a 5-year revenue CAGR of 170.6%. Gross margin remained steady, posting 64.4% in FY2021 and 63.1% in FY2025. Trailing twelve month revenue reached $21.7M, supported by quarterly revenue growth of 472.8% year-over-year for the quarter ended June 30, 2026. However, rising R&D expenses, which reached $42.8M in FY2025, contributed to an operating margin of -827.8% and an annual net loss of -$90.1M, or -$2.45 per share.

As of June 30, 2026, Nyxoah held $97.8M in cash and short-term investments against total debt of $52.6M, resulting in net cash of $45.2M. The company reported a current ratio of 2.38 and a debt-to-equity ratio of 0.63 on shareholders' equity of $83.1M. Operating cash flow in FY2025 was -$67.5M, while capital expenditures totaled $804,698, leading to free cash flow of -$68.3M. Nyxoah's share count increased 121.8% over the past 5 years.

At a share price of $1.11 on October 16, 2026, Nyxoah carries a market capitalization of $113.0M and an enterprise value of $86.7M. The stock trades at a price-to-sales multiple of 5.2x, above the 4.1x median of its US-listed Healthcare peers, and an EV-to-revenue ratio of 3.5x. NYXH shares declined 81.2% over the trailing 1-year period and 95.6% over 5 years, lagging the S&P 500 benchmark returns of 16.8% and 83.0% over the same respective periods.

Wall Street coverage includes 2 Strong Buy ratings and 2 Hold ratings from 4 analysts. The mean price target is $4.21, representing 279.3% upside compared to the last close of $1.11. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $37.3M and an EPS of -$1.26. For the next fiscal year, analysts forecast revenue to grow 92.8% to $71.9M with an EPS of -$0.73. Nyxoah beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 12, 2026.

This page is an AI-written research summary of Nyxoah S.A. (NYXH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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