Nyxoah Reports Revenue of 10 Million Euros in 2025
Belgian medical technology company Nyxoah has released its unaudited preliminary results for the fiscal year 2025, marked by its first full quarter of commercialization in the United States following FDA approval.
According to the press release dated January 12, 2026, Nyxoah recorded a global revenue exceeding 10 million euros for the entire fiscal year 2025. This performance is based on the launch of its Genio system in the American market and the continuation of its international geographical expansion. The company indicates that the fourth quarter of 2025 was its first full quarter of commercialization in the United States following the FDA approval. The company specifies that these preliminary results are unaudited and subject to revisions until the publication of its complete financial results in its annual report on Form 20-F.
Revenue Forecasts for Early 2026
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The company has communicated revenue forecasts for the first quarter of 2026, however, it did not specify the amounts in the press release. Nyxoah mentions having a waiting list for additional surgeon training and for patients scheduled for implants. The group reports initial results obtained by its American patients, without providing numerical data on this matter. The estimates concerning revenue, cash, cash equivalents, and financial assets presented remain preliminary, the company clarifies.
Participation in the 44th Annual J.P. Morgan Healthcare Conference
Nyxoah will participate in the 44th annual J.P. Morgan Healthcare Conference on Thursday, January 15, 2026, according to the press release. The company plans to make a presentation at 12:00 PM Pacific Time, accessible via webcast on the Investor Relations page of its website. The Belgian company, listed on Euronext Brussels and on the Nasdaq, develops and markets the Genio system, a hypoglossal nerve neurostimulation therapy designed to treat obstructive sleep apnea. The system received CE marking in 2019 and FDA approval in August 2025 for a subgroup of adult patients with moderate to severe obstructive sleep apnea.
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SectorDispositifs médicaux et optique›Dispositifs médicaux
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 14 millions d'euros
Quarterly revenue: 14 millions d'euros
Revenue growth: 484,4 %
Net income: -48,9 millions d'euros
Guidance from the release
nous sommes confiants dans le fait que l'environnement de remboursement actuel soutient l'accélération de notre croissance du chiffre d'affaires aux États-Unis
Risks mentioned
Baisse de la marge brute à 59 % au S1 2026 due à des problèmes de rendement de production au T1 et à un mix de revenus américain plus important
Augmentation des charges de vente, générales et administratives liée au déploiement commercial aux États-Unis
Perte opérationnelle en hausse à 41,1 M€ au S1 2026 contre 40,5 M€ au S1 2025
Opportunities identified
Financement de 110 millions de dollars sécurisé au T2 2026 pour financer la croissance commerciale
Taux d'approbation de 100 % sur les demandes d'autorisation préalable pour les patients commerciaux et WISeR
Code Medicare C-code 8011 dédié à Genio, clarifiant le paysage de remboursement
Outlook / guidance
Expected revenue: 38 millions d'euros
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.