Nyxoah Sees 347% Q4 Net Revenue Jump to €5.6M on US Launch
Nyxoah generated €5.6 million in net revenue in Q4 2025, a 347% increase year-over-year on a €6.3 million gross, driven by its first full US commercialization quarter. It ended the year with €48.0 million in cash and financial assets and trained 145 surgeons across 57 US accounts.
1. Fourth Quarter Financial Results
Nyxoah reported Q4 2025 gross revenue of €6.3 million and net revenue of €5.6 million, marking a 347% year-over-year increase. Gross margin for the quarter stood at approximately 64%, underscoring improved production efficiency as US sales ramped.
2. US Commercial Launch Momentum
The fourth quarter represented the first full period of US commercialization following FDA approval, during which Nyxoah trained 145 surgeons and activated 57 implanting accounts. The Genio system has received consistent reimbursement approval from major commercial payors and Medicare.
3. Full Year Revenue and Cash Position
For full year 2025, Nyxoah achieved €11.0 million in gross revenue and €10.0 million in net revenue, up 122% year-over-year. The company closed the year with €48.0 million in cash, cash equivalents and financial assets, providing runway for further growth.
4. Operating Loss and Expansion Plans
Nyxoah recorded a full year operating loss of €83.5 million and a net loss of €90.1 million, reflecting ongoing R&D and SG&A investments. Management is expanding its manufacturing footprint to meet anticipated global demand in 2026.