Nyxoah S.A. (NYXH) Income Statement
NYXH 2025 at a glance
Fiscal year ended December 31, 2025 · eurosNYXH revenue and net income
Where NYXH's revenue goes
2025Each bar shows an amount and its share of revenue. NYXH kept −899.1% of revenue as net income.
NYXH profit margins
NYXH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +121.6% | +48.1% | +170.6% | — |
| Gross profit | +113.1% | +48.4% | +176.7% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NYXH income statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | €10.0M | €4.5M | €4.3M | €3.1M | €852,000 | €69,000 | €0 | €0 | €0 |
| Cost of revenue | €3.7M | €1.6M | €1.7M | €1.1M | €303,000 | €30,000 | €486,042 | €95,078 | €89,255 |
| Gross profit | €6.3M | €3.0M | €2.7M | €1.9M | €549,000 | €39,000 | −€486,042 | −€95,078 | −€89,255 |
| Research & development | €42.8M | €34.3M | €27.7M | €15.9M | €6.0M | €2.9M | €1.6M | €1.4M | €1.5M |
| Sales, general & admin | €46.4M | €28.5M | €20.6M | €18.9M | €11.1M | €11.3M | €4.5M | €3.0M | €4.1M |
| Total operating expenses | €89.3M | €61.8M | €47.8M | €34.4M | €26.8M | €11.3M | €8.0M | €8.9M | €8.8M |
| Operating income | −€82.9M | −€58.8M | −€45.1M | −€32.5M | −€26.2M | −€11.2M | −€8.5M | −€8.4M | −€10.1M |
| Interest income | €1.8M | €2.5M | €2.0M | €6.8M | €1,000 | €3,000 | €8,000 | €1,000 | €2,000 |
| Interest expense | €1.7M | €1.9M | €1.2M | €237,000 | €386,000 | €198,000 | €701,562 | €29,000 | €37,000 |
| Income before taxes | −€89.1M | −€56.4M | −€44.7M | −€30.1M | −€24.6M | −€12.2M | −€9.4M | −€9.0M | −€10.3M |
| Income taxes | €1.0M | €2.8M | −€1.4M | €1.2M | €3.0M | €93,000 | €78,574 | €41,000 | €37,000 |
| Net income | −€90.1M | −€59.2M | −€43.2M | −€31.2M | −€27.6M | −€12.2M | −€8.5M | −€9.1M | −€10.4M |
| EBITDA | −€82.9M | −€51.8M | −€42.1M | −€27.9M | −€22.6M | −€10.6M | −€8.2M | −€8.5M | −€8.7M |
| Gross margin | 63.1% | 65.7% | 61.9% | 62.7% | 64.4% | 56.5% | — | — | — |
| Operating margin | −827.8% | −1,300.8% | −1,037.3% | −1,053.8% | −3,080.0% | −16,266.7% | — | — | — |
| Net margin | −899.1% | −1,310.2% | −993.8% | −1,012.5% | −3,241.7% | −17,746.4% | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €7.7M | €7.4M | €5.6M | €2.0M | €1.3M | €1.1M | €1.3M | €1.3M | €771,000 | €1.2M | €1.8M | €976,000 |
| Cost of revenue | €3.1M | €5.1M | €2.0M | €779,000 | €490,000 | €406,000 | €335,000 | €482,000 | €281,000 | €455,000 | €726,000 | €336,000 |
| Gross profit | €4.6M | €2.2M | €3.6M | €1.2M | €850,000 | €658,000 | €928,000 | €784,000 | €490,000 | €766,000 | €1.1M | €640,000 |
| Research & development | €9.5M | €8.7M | €10.9M | €12.9M | €10.1M | €9.0M | €11.8M | €7.9M | €7.6M | €7.1M | €8.3M | €7.1M |
| Sales, general & admin | €15.6M | €14.9M | €12.0M | €12.1M | €10.3M | €12.0M | €7.7M | €7.7M | €6.1M | €5.7M | €4.6M | €4.8M |
| Total operating expenses | €25.2M | €26.0M | €21.9M | €25.4M | €20.7M | €21.3M | €19.2M | €15.8M | €13.8M | €13.0M | €11.9M | €11.6M |
| Operating income | −€20.6M | −€23.7M | −€18.3M | −€24.2M | −€19.9M | −€20.6M | −€18.3M | −€15.0M | −€13.3M | −€12.2M | −€10.8M | −€11.0M |
| Interest income | €82,000 | €168,000 | €129,000 | €247,000 | €513,000 | €945,000 | €829,000 | €703,000 | €2.1M | €498,000 | €756,000 | €831,000 |
| Interest expense | €13.1M | €1.4M | €3.4M | €700,000 | €677,000 | €694,000 | €1.4M | €672,000 | €352,000 | €107,900 | €51,875 | €68,710 |
| Income before taxes | −€32.5M | −€18.0M | −€22.6M | −€23.9M | −€20.3M | −€22.3M | −€15.1M | −€16.9M | −€12.7M | −€11.8M | −€11.2M | −€9.8M |
| Income taxes | €477,000 | €450,594 | €895,000 | −€290,000 | €278,000 | €125,000 | €2.1M | €173,000 | €441,000 | €110,000 | −€326,000 | −€2.2M |
| Net income | −€33.0M | −€18.4M | −€23.5M | −€23.6M | −€20.6M | −€22.4M | −€17.1M | −€17.1M | −€13.1M | −€11.9M | −€10.9M | −€7.6M |
| EBITDA | −€17.6M | −€14.9M | −€21.5M | −€21.7M | −€19.3M | −€21.2M | −€14.8M | −€15.9M | −€11.7M | −€10.8M | −€10.4M | −€9.0M |
| Gross margin | 59.7% | 30.2% | 64.2% | 60.5% | 63.4% | 61.8% | 73.5% | 61.9% | 63.6% | 62.7% | 60.2% | 65.6% |
| Operating margin | −268.2% | −322.3% | −323.5% | −1,226.9% | −1,481.3% | −1,939.8% | −1,449.8% | −1,183.3% | −1,725.9% | −1,000.2% | −594.1% | −1,125.6% |
| Net margin | −429.5% | −250.2% | −416.6% | −1,195.7% | −1,537.8% | −2,103.8% | −1,357.8% | −1,347.4% | −1,702.2% | −975.1% | −597.2% | −779.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported in NYXH's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NYXH financial results
In fiscal year 2025 (ended December 31, 2025), Nyxoah reported revenue of €10.0 million, up 121.6% from the year before. It had a net loss of €90.1 million, a net profit margin of −899.1%. Over five years revenue grew at an average rate of 170.6% a year. Figures are in euros, the currency of its financial statements.
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NYXH income statement FAQ
What is Nyxoah's annual revenue?
Nyxoah reported total revenue of €10.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 121.6% from €4.5 million the previous year.
Is Nyxoah profitable?
No. Nyxoah reported a net loss of €90.1 million in fiscal 2025, a net profit margin of −899.1%; its operating margin was −827.8%.
What is Nyxoah's gross margin?
Nyxoah's gross margin was 63.1% in fiscal 2025: for every $100 of revenue, Nyxoah kept $63 after the direct cost of its products and services.
How much does Nyxoah spend on research and development?
Nyxoah spent €42.8 million on research and development in fiscal 2025, 427.4% of revenue.
How fast is Nyxoah growing?
Revenue grew 170.6% a year on average over the last five fiscal years, from €0.1 million to €10.0 million.
When will Nyxoah report its next earnings?
Nyxoah is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Nyxoah's fiscal year end?
Nyxoah's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.