Nyxoah SA
XBRU:NYXH
Nyxoah SA
Nyxoah SA engages in the research and development, manufacture and sale of medical devices. The company is headquartered in Mont-Saint-Guibert, Brabant-Wallon and currently employs 72 full-time employees. The company went IPO on 2020-09-18. The firm focuses on the development and commercialization of solutions and services to treat sleep-disordered breathing conditions. The system consists of a neurostimulator, which is implanted close to the nerve of the tongue, as well as an activation chip, which is connected to a disposable patch and is positioned every night by the patient under the chin.
Nyxoah SA engages in the research and development, manufacture and sale of medical devices. The company is headquartered in Mont-Saint-Guibert, Brabant-Wallon and currently employs 72 full-time employees. The company went IPO on 2020-09-18. The firm focuses on the development and commercialization of solutions and services to treat sleep-disordered breathing conditions. The system consists of a neurostimulator, which is implanted close to the nerve of the tongue, as well as an activation chip, which is connected to a disposable patch and is positioned every night by the patient under the chin.
U.S. Launch Momentum: Nyxoah's Genio implant launch in the U.S. generated strong physician enthusiasm, with 15 implants performed across 9 accounts in the first 12 weeks following FDA approval.
Revenue Growth: Q3 2025 revenue was EUR 2 million, up 56% year-over-year.
Operating Loss: Operating loss widened to EUR 24.4 million from EUR 15 million last year, reflecting higher U.S. commercial investments.
Gross Margin: Gross margin was 60.5%, down slightly from 62% in Q3 2024.
Cash Position & Capital Raise: Cash fell to EUR 22.5 million, but up to $77 million in new financing was secured to extend runway into Q1 2027.
Guidance: Q4 2025 global revenue is expected to be EUR 3.4–3.6 million.
Reimbursement Progress: Rapid progress with Medicare and 10 private payers, 100% approval rate for prior authorizations, and inclusion of Genio’s CPT code in key commercial payer policies.
