Nyxoah S.A. (NYXH) 10-Year Financial Performance & Capital Metrics

NYXH • • Industrial / General

HealthcareMedical InstrumentsWound Care & Therapeutic DevicesSpecialized Therapeutic Devices

AboutNyxoah S.A., a medical technology company, focuses on the development and commercialization of solutions to treat sleep disordered breathing conditions. It offers Genio system, a CE-Marked, patient-centric, and hypoglossal neurostimulation therapy to treat moderate to severe obstructive sleep apnea. The company was incorporated in 2009 and is headquartered in Mont-Saint-Guibert, Belgium.Show more

Revenue $5M +4.0%
EBITDA -$58M -35.8%
Net Income -$59M -37.1%
EPS (Diluted) -1.81 -16.8%
Gross Margin 65.67% +6.1%
EBITDA Margin -1283.9% -30.6%
Operating Margin -1300.8% -25.4%
Net Margin -1310.24% -31.8%
ROE -56.07% -41.7%
ROIC -46.22% -39.0%
Debt/Equity 0.20 +54.3%
Interest Coverage -30.90 +17.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 1.5x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 17 (bottom 17%)
✗Shares diluted 17.1% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y74.42%

TTM10.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-58.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM-29.48%

ROCE

10Y Avg-47.04%

5Y Avg-28.23%

3Y Avg-35.84%

Latest-47.7%

Peer Comparison

Specialized Therapeutic Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RMDResMed Inc.	38.05B	260.70	27.41	9.84%	27.35%	23.49%	4.37%	0.14
ZJYLJin Medical International Ltd.	22.54M	0.14	6.13	18.57%	10.94%	16.93%		0.41
FEMYFemasys Inc.	38.2M	0.64	-0.76	51.97%	-9.61%	-434.6%		3.23
NYXHNyxoah S.A.	221.59M	5.15	-2.85	3.98%	-14.85%	-164.31%		0.20
MLSSMilestone Scientific Inc.	22.8M	0.29	-4.91	-12.19%	-76.78%	-208.8%		0.06
NVCRNovoCure Limited	1.55B	13.80	-8.85	18.82%	-27.66%	-52.05%		1.90
EKSOEkso Bionics Holdings, Inc.	22.43M	8.55	-15.27	-1.94%	-70.74%	-107.8%		0.47
PLSEPulse Biosciences, Inc.	955.52M	14.10	-15.33		-868.99%	-80.62%		0.08

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	69K	852K	3.08M	4.35M	4.52M
Revenue Growth %	-	-	-	-	11.35%	2.62%	0.41%	0.04%
Cost of Goods Sold+	2.11M	2.52M	486.04K	30K	303K	1.15M	1.66M	1.55M
COGS % of Revenue	-	-	-	0.43%	0.36%	0.37%	0.38%	0.34%
Gross Profit+	-2.11M	-2.52M	-486.04K	39K	549K	1.93M	2.69M	2.97M
Gross Margin %	-	-	-	0.57%	0.64%	0.63%	0.62%	0.66%
Gross Profit Growth %	-	-0.2%	0.81%	1.08%	13.08%	2.52%	0.39%	0.1%
Operating Expenses+	10.14M	8.45M	8.03M	11.26M	26.79M	34.43M	47.79M	61.78M
OpEx % of Revenue	-	-	-	163.23%	31.44%	11.17%	10.99%	13.66%
Selling, General & Admin	4.12M	4.35M	6.39M	11.35M	11.11M	18.86M	20.64M	28.46M
SG&A % of Revenue	-	-	-	164.42%	13.04%	6.11%	4.75%	6.3%
Research & Development	2M	1.72M	1.64M	2.91M	5.95M	15.86M	27.66M	34.33M
R&D % of Revenue	-	-	-	42.17%	6.99%	5.14%	6.36%	7.59%
Other Operating Expenses	4.58M	2.81M	0	-2.99M	9.73M	-283K	-507K	-1.01M
Operating Income+	-10.14M	-8.45M	-8.52M	-11.22M	-26.24M	-32.5M	-45.1M	-58.81M
Operating Margin %	-	-	-	-162.67%	-30.8%	-10.54%	-10.37%	-13.01%
Operating Income Growth %	-	0.17%	-0.01%	-0.32%	-1.34%	-0.24%	-0.39%	-0.3%
EBITDA+	-10.06M	-8.36M	-8.03M	-10.6M	-24.58M	-30.57M	-42.74M	-58.05M
EBITDA Margin %	-	-	-	-153.68%	-28.85%	-9.91%	-9.83%	-12.84%
EBITDA Growth %	-	0.17%	0.04%	-0.32%	-1.32%	-0.24%	-0.4%	-0.36%
D&A (Non-Cash Add-back)	87K	95K	486.04K	620K	1.66M	1.93M	2.36M	764K
EBIT	-10.3M	-9.01M	-8.71M	-11.22M	-24.25M	-29.82M	-44.44M	-58.81M
Net Interest Income+	-35K	-28K	-692.58K	-195K	-385K	135K	1.37M	599K
Interest Income	2K	1K	8K	3K	1K	372K	2.57M	2.5M
Interest Expense	37K	29K	50K	198K	386K	237K	1.21M	1.9M
Other Income/Expense	-191K	-588K	-892.39K	-928K	1.6M	2.44M	445K	2.38M
Pretax Income+	-10.33M	-9.04M	-9.41M	-12.15M	-24.64M	-30.06M	-44.66M	-56.43M
Pretax Margin %	-	-	-	-176.12%	-28.92%	-9.75%	-10.27%	-12.48%
Income Tax+	37K	41K	78.57K	93K	2.98M	1.17M	-1.45M	2.8M
Effective Tax Rate %	1%	1%	1.01%	1.01%	1.12%	1.04%	0.97%	1.05%
Net Income+	-10.37M	-9.08M	-9.49M	-12.24M	-27.62M	-31.23M	-43.21M	-59.24M
Net Margin %	-	-	-	-177.46%	-32.42%	-10.12%	-9.94%	-13.1%
Net Income Growth %	-	0.12%	-0.05%	-0.29%	-1.26%	-0.13%	-0.38%	-0.37%
Net Income (Continuing)	-10.37M	-9.08M	-9.49M	-12.24M	-27.62M	-31.23M	-43.21M	-59.24M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.50	-0.43	-0.34	-0.68	-1.16	-1.21	-1.55	-1.81
EPS Growth %	-	0.14%	0.21%	-1%	-0.71%	-0.04%	-0.28%	-0.17%
EPS (Basic)	-0.50	-0.43	-0.34	-0.68	-1.16	-1.21	-1.55	-1.81
Diluted Shares Outstanding	20.89M	20.89M	21.42M	18.1M	23.79M	25.82M	27.97M	32.74M
Basic Shares Outstanding	20.89M	20.89M	21.42M	18.1M	23.79M	25.82M	27.97M	32.74M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.68M	17.54M	8.95M	115.15M	140.06M	100.26M	68.35M	98.08M
Cash & Short-Term Investments	10.11M	16.8M	6.57M	112.93M	135.51M	94.86M	57.75M	85.56M
Cash Only	10.11M	16.8M	6.57M	112.93M	135.51M	17.89M	21.61M	34.19M
Short-Term Investments	0	0	0	0	0	76.97M	36.14M	51.37M
Accounts Receivable	575K	732K	2.37M	2.01M	2.51M	2.23M	5.63M	3.38M
Days Sales Outstanding	-	-	-	10.64K	1.08K	264.05	472.37	273.04
Inventory	-575K	-732K	0	67.3K	346K	882K	3.31M	4.72M
Days Inventory Outstanding	-	-	-	818.76	416.8	279.94	730.66	1.11K
Other Current Assets	0	0	0	0	3.98M	828K	1.66M	4.43M
Total Non-Current Assets+	461K	440K	8.11M	24.44M	30.77M	45.81M	55.81M	60.32M
Property, Plant & Equipment	369K	343K	1.56M	4.89M	5.24M	5.62M	7.98M	8.25M
Fixed Asset Turnover	-	-	-	0.01x	0.16x	0.55x	0.55x	0.55x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	6.44M	19.4M	25.32M	39.97M	46.61M	50.38M
Long-Term Investments	70K	68K	87.55K	111.34K	164K	173K	0	0
Other Non-Current Assets	70K	68K	0	0	0	0	1.17M	1.69M
Total Assets+	11.14M	17.98M	17.06M	139.58M	170.83M	146.07M	124.16M	158.41M
Asset Turnover	-	-	-	0.00x	0.00x	0.02x	0.04x	0.03x
Asset Growth %	-	0.61%	-0.05%	7.18%	0.22%	-0.14%	-0.15%	0.28%
Total Current Liabilities+	1.75M	2M	4.91M	7.83M	11.57M	14.91M	14.44M	21.53M
Accounts Payable	389K	606K	1.55M	1.46M	2.39M	1.87M	4.1M	3.75M
Days Payables Outstanding	67.29	87.67	1.17K	17.71K	2.88K	594.47	904.12	881.69
Short-Term Debt	395K	289K	805.95K	1.33M	554K	389K	364K	248K
Deferred Revenue (Current)	0	0	0	0	0	0	0	117K
Other Current Liabilities	257K	316K	1.85M	4.12M	1.15M	621K	1.08M	2.36M
Current Ratio	6.11x	8.77x	1.82x	14.70x	12.10x	6.72x	4.73x	4.56x
Quick Ratio	6.44x	9.14x	1.82x	14.69x	12.07x	6.66x	4.50x	4.34x
Cash Conversion Cycle	-	-	-	-6.26K	-1.39K	-50.49	298.9	500.46
Total Non-Current Liabilities+	4.87M	5.53M	9.49M	12.83M	10.64M	10.83M	11.69M	23.62M
Long-Term Debt	4.87M	5.53M	8.02M	9.31M	7.8M	8.19M	8.37M	18.73M
Capital Lease Obligations	0	0	825.04K	3.48M	2.74M	2.59M	3.12M	2.56M
Deferred Tax Liabilities	0	0	0	0	5K	0	9K	0
Other Non-Current Liabilities	0	0	647.68K	45.27K	92K	59K	194K	2.34M
Total Liabilities	6.62M	7.53M	14.41M	20.67M	22.21M	25.75M	26.14M	45.15M
Total Debt+	5.26M	5.82M	9.65M	14.12M	11.68M	11.88M	12.7M	22.65M
Net Debt	-4.84M	-10.99M	3.08M	-98.81M	-123.83M	-6.01M	-8.91M	-11.53M
Debt / Equity	1.16x	0.56x	3.64x	0.12x	0.08x	0.10x	0.13x	0.20x
Debt / EBITDA	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-
Interest Coverage	-274.14x	-291.38x	-170.37x	-56.69x	-67.98x	-137.13x	-37.37x	-30.90x
Total Equity+	4.53M	10.45M	2.65M	118.92M	148.62M	120.32M	98.02M	113.25M
Equity Growth %	-	1.31%	-0.75%	43.87%	0.25%	-0.19%	-0.19%	0.16%
Book Value per Share	0.22	0.50	0.12	6.57	6.25	4.66	3.50	3.46
Total Shareholders' Equity	4.53M	10.45M	2.65M	118.92M	148.62M	120.32M	98.02M	113.25M
Common Stock	2M	2.48M	2.78M	4.64M	4.43M	4.44M	4.93M	6.43M
Retained Earnings	-30.73M	-39.81M	-54.35M	-73.83M	-87.17M	-118.21M	-160.83M	-217.74M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	63K	39K	703.81K	3.42M	202K	176K	137K	10.21M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-8.29M	-8.14M	-5.93M	-6.86M	-25.34M	-28.76M	-44.78M	-49.23M
Operating CF Margin %	-	-	-	-99.48%	-29.74%	-9.32%	-10.3%	-10.89%
Operating CF Growth %	-	0.02%	0.27%	-0.16%	-2.69%	-0.13%	-0.56%	-0.1%
Net Income	-10.33M	-9.04M	-8.38M	-12.15M	-24.64M	-30.06M	-44.66M	-56.43M
Depreciation & Amortization	87K	95K	433K	620K	1.66M	1.93M	2.36M	2.72M
Stock-Based Compensation	24K	28K	346K	2.55M	1.27M	2.7M	2.61M	3.97M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	2.39M	575K	716K	700K	-2.48M	-3.42M	-1.6M	-2.44M
Working Capital Changes	-454K	201K	957K	1.42M	-1.14M	86K	-3.49M	2.96M
Change in Receivables	-161K	-155K	-1.39M	365K	-2.52M	7K	-1.54M	-751K
Change in Inventory	0	0	0	-55K	-291K	-536K	-2.43M	-1.4M
Change in Payables	0	0	0	0	0	0	0	0
Cash from Investing+	-91K	-75K	-5.79M	-10.69M	-11.82M	-89.95M	32.01M	-16.32M
Capital Expenditures	-91K	-77K	-51K	-562K	-1.47M	-886K	-2.5M	-1.17M
CapEx % of Revenue	-	-	-	8.14%	1.72%	0.29%	0.57%	0.26%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	0	2K	-5.73M	-10.12M	-10.35M	-15.35M	-6.15M	-2.64M
Cash from Financing+	1.11M	15M	700K	104.03M	76.47M	-983K	16.86M	77.44M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	0	0	-33K	-151K	-393K	-167K	-243K	-758K
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-8.38M	-8.22M	-11.72M	-17.54M	-37.15M	-45.1M	-55.74M	-55.3M
FCF Margin %	-	-	-	-254.26%	-43.61%	-14.63%	-12.82%	-12.23%
FCF Growth %	-	0.02%	-0.43%	-0.5%	-1.12%	-0.21%	-0.24%	0.01%
FCF per Share	-0.40	-0.39	-0.55	-0.97	-1.56	-1.75	-1.99	-1.69
FCF Conversion (FCF/Net Income)	0.80x	0.90x	0.63x	0.56x	0.92x	0.92x	1.04x	0.83x
Interest Paid	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-229.09%	-121.21%	-144.83%	-20.15%	-20.65%	-23.22%	-39.58%	-56.07%
Return on Invested Capital (ROIC)	-	-	-246%	-65.17%	-87.69%	-35.04%	-33.26%	-46.22%
Gross Margin	-	-	-	56.52%	64.44%	62.71%	61.91%	65.67%
Net Margin	-	-	-	-17746.38%	-3241.67%	-1012.48%	-993.84%	-1310.24%
Debt / Equity	1.16x	0.56x	3.64x	0.12x	0.08x	0.10x	0.13x	0.20x
Interest Coverage	-274.14x	-291.38x	-170.37x	-56.69x	-67.98x	-137.13x	-37.37x	-30.90x
FCF Conversion	0.80x	0.90x	0.63x	0.56x	0.92x	0.92x	1.04x	0.83x
Revenue Growth	-	-	-	-	1134.78%	261.97%	40.99%	3.98%

Revenue by Geography

	2021	2022	2023	2024
Germany	-	2.8M	3.82M	4.06M
Germany Growth	-	-	36.29%	6.42%
Switzerland	-	214K	373K	763K
Switzerland Growth	-	-	74.30%	104.56%
Spain	-	24K	37K	72K
Spain Growth	-	-	54.17%	94.59%
AUSTRIA	-	-	122K	60K
AUSTRIA Growth	-	-	-	-50.82%
ITALY	-	-	-	46K
ITALY Growth	-	-	-	-
GERMANY	800K	-	-	-
GERMANY Growth	-	-	-	-
SPAIN	24K	-	-	-
SPAIN Growth	-	-	-	-
BELGIUM	20K	-	-	-
BELGIUM Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

Nyxoah S.A. (NYXH) reported $5.6M in revenue for fiscal year 2024.

Nyxoah S.A. (NYXH) grew revenue by 4.0% over the past year. Growth has been modest.

Nyxoah S.A. (NYXH) reported a net loss of $83.7M for fiscal year 2024.

Dividend & Returns

Nyxoah S.A. (NYXH) has a return on equity (ROE) of -56.1%. Negative ROE indicates the company is unprofitable.

Nyxoah S.A. (NYXH) had negative free cash flow of $70.3M in fiscal year 2024, likely due to heavy capital investments.

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Nyxoah S.A. (NYXH) 10-Year Financial Performance & Capital Metrics

NYXH • • Industrial / General

HealthcareMedical InstrumentsWound Care & Therapeutic DevicesSpecialized Therapeutic Devices

Revenue $5M +4.0%
EBITDA -$58M -35.8%
Net Income -$59M -37.1%
EPS (Diluted) -1.81 -16.8%
Gross Margin 65.67% +6.1%
EBITDA Margin -1283.9% -30.6%
Operating Margin -1300.8% -25.4%
Net Margin -1310.24% -31.8%
ROE -56.07% -41.7%
ROIC -46.22% -39.0%
Debt/Equity 0.20 +54.3%
Interest Coverage -30.90 +17.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 1.5x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 17 (bottom 17%)
✗Shares diluted 17.1% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y74.42%

TTM10.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-58.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM-29.48%

ROCE

10Y Avg-47.04%

5Y Avg-28.23%

3Y Avg-35.84%

Latest-47.7%

Peer Comparison

Specialized Therapeutic Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RMDResMed Inc.	38.05B	260.70	27.41	9.84%	27.35%	23.49%	4.37%	0.14
ZJYLJin Medical International Ltd.	22.54M	0.14	6.13	18.57%	10.94%	16.93%		0.41
FEMYFemasys Inc.	38.2M	0.64	-0.76	51.97%	-9.61%	-434.6%		3.23
NYXHNyxoah S.A.	221.59M	5.15	-2.85	3.98%	-14.85%	-164.31%		0.20
MLSSMilestone Scientific Inc.	22.8M	0.29	-4.91	-12.19%	-76.78%	-208.8%		0.06
NVCRNovoCure Limited	1.55B	13.80	-8.85	18.82%	-27.66%	-52.05%		1.90
EKSOEkso Bionics Holdings, Inc.	22.43M	8.55	-15.27	-1.94%	-70.74%	-107.8%		0.47
PLSEPulse Biosciences, Inc.	955.52M	14.10	-15.33		-868.99%	-80.62%		0.08

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	69K	852K	3.08M	4.35M	4.52M
Revenue Growth %	-	-	-	-	11.35%	2.62%	0.41%	0.04%
Cost of Goods Sold+	2.11M	2.52M	486.04K	30K	303K	1.15M	1.66M	1.55M
COGS % of Revenue	-	-	-	0.43%	0.36%	0.37%	0.38%	0.34%
Gross Profit+	-2.11M	-2.52M	-486.04K	39K	549K	1.93M	2.69M	2.97M
Gross Margin %	-	-	-	0.57%	0.64%	0.63%	0.62%	0.66%
Gross Profit Growth %	-	-0.2%	0.81%	1.08%	13.08%	2.52%	0.39%	0.1%
Operating Expenses+	10.14M	8.45M	8.03M	11.26M	26.79M	34.43M	47.79M	61.78M
OpEx % of Revenue	-	-	-	163.23%	31.44%	11.17%	10.99%	13.66%
Selling, General & Admin	4.12M	4.35M	6.39M	11.35M	11.11M	18.86M	20.64M	28.46M
SG&A % of Revenue	-	-	-	164.42%	13.04%	6.11%	4.75%	6.3%
Research & Development	2M	1.72M	1.64M	2.91M	5.95M	15.86M	27.66M	34.33M
R&D % of Revenue	-	-	-	42.17%	6.99%	5.14%	6.36%	7.59%
Other Operating Expenses	4.58M	2.81M	0	-2.99M	9.73M	-283K	-507K	-1.01M
Operating Income+	-10.14M	-8.45M	-8.52M	-11.22M	-26.24M	-32.5M	-45.1M	-58.81M
Operating Margin %	-	-	-	-162.67%	-30.8%	-10.54%	-10.37%	-13.01%
Operating Income Growth %	-	0.17%	-0.01%	-0.32%	-1.34%	-0.24%	-0.39%	-0.3%
EBITDA+	-10.06M	-8.36M	-8.03M	-10.6M	-24.58M	-30.57M	-42.74M	-58.05M
EBITDA Margin %	-	-	-	-153.68%	-28.85%	-9.91%	-9.83%	-12.84%
EBITDA Growth %	-	0.17%	0.04%	-0.32%	-1.32%	-0.24%	-0.4%	-0.36%
D&A (Non-Cash Add-back)	87K	95K	486.04K	620K	1.66M	1.93M	2.36M	764K
EBIT	-10.3M	-9.01M	-8.71M	-11.22M	-24.25M	-29.82M	-44.44M	-58.81M
Net Interest Income+	-35K	-28K	-692.58K	-195K	-385K	135K	1.37M	599K
Interest Income	2K	1K	8K	3K	1K	372K	2.57M	2.5M
Interest Expense	37K	29K	50K	198K	386K	237K	1.21M	1.9M
Other Income/Expense	-191K	-588K	-892.39K	-928K	1.6M	2.44M	445K	2.38M
Pretax Income+	-10.33M	-9.04M	-9.41M	-12.15M	-24.64M	-30.06M	-44.66M	-56.43M
Pretax Margin %	-	-	-	-176.12%	-28.92%	-9.75%	-10.27%	-12.48%
Income Tax+	37K	41K	78.57K	93K	2.98M	1.17M	-1.45M	2.8M
Effective Tax Rate %	1%	1%	1.01%	1.01%	1.12%	1.04%	0.97%	1.05%
Net Income+	-10.37M	-9.08M	-9.49M	-12.24M	-27.62M	-31.23M	-43.21M	-59.24M
Net Margin %	-	-	-	-177.46%	-32.42%	-10.12%	-9.94%	-13.1%
Net Income Growth %	-	0.12%	-0.05%	-0.29%	-1.26%	-0.13%	-0.38%	-0.37%
Net Income (Continuing)	-10.37M	-9.08M	-9.49M	-12.24M	-27.62M	-31.23M	-43.21M	-59.24M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.50	-0.43	-0.34	-0.68	-1.16	-1.21	-1.55	-1.81
EPS Growth %	-	0.14%	0.21%	-1%	-0.71%	-0.04%	-0.28%	-0.17%
EPS (Basic)	-0.50	-0.43	-0.34	-0.68	-1.16	-1.21	-1.55	-1.81
Diluted Shares Outstanding	20.89M	20.89M	21.42M	18.1M	23.79M	25.82M	27.97M	32.74M
Basic Shares Outstanding	20.89M	20.89M	21.42M	18.1M	23.79M	25.82M	27.97M	32.74M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.68M	17.54M	8.95M	115.15M	140.06M	100.26M	68.35M	98.08M
Cash & Short-Term Investments	10.11M	16.8M	6.57M	112.93M	135.51M	94.86M	57.75M	85.56M
Cash Only	10.11M	16.8M	6.57M	112.93M	135.51M	17.89M	21.61M	34.19M
Short-Term Investments	0	0	0	0	0	76.97M	36.14M	51.37M
Accounts Receivable	575K	732K	2.37M	2.01M	2.51M	2.23M	5.63M	3.38M
Days Sales Outstanding	-	-	-	10.64K	1.08K	264.05	472.37	273.04
Inventory	-575K	-732K	0	67.3K	346K	882K	3.31M	4.72M
Days Inventory Outstanding	-	-	-	818.76	416.8	279.94	730.66	1.11K
Other Current Assets	0	0	0	0	3.98M	828K	1.66M	4.43M
Total Non-Current Assets+	461K	440K	8.11M	24.44M	30.77M	45.81M	55.81M	60.32M
Property, Plant & Equipment	369K	343K	1.56M	4.89M	5.24M	5.62M	7.98M	8.25M
Fixed Asset Turnover	-	-	-	0.01x	0.16x	0.55x	0.55x	0.55x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	6.44M	19.4M	25.32M	39.97M	46.61M	50.38M
Long-Term Investments	70K	68K	87.55K	111.34K	164K	173K	0	0
Other Non-Current Assets	70K	68K	0	0	0	0	1.17M	1.69M
Total Assets+	11.14M	17.98M	17.06M	139.58M	170.83M	146.07M	124.16M	158.41M
Asset Turnover	-	-	-	0.00x	0.00x	0.02x	0.04x	0.03x
Asset Growth %	-	0.61%	-0.05%	7.18%	0.22%	-0.14%	-0.15%	0.28%
Total Current Liabilities+	1.75M	2M	4.91M	7.83M	11.57M	14.91M	14.44M	21.53M
Accounts Payable	389K	606K	1.55M	1.46M	2.39M	1.87M	4.1M	3.75M
Days Payables Outstanding	67.29	87.67	1.17K	17.71K	2.88K	594.47	904.12	881.69
Short-Term Debt	395K	289K	805.95K	1.33M	554K	389K	364K	248K
Deferred Revenue (Current)	0	0	0	0	0	0	0	117K
Other Current Liabilities	257K	316K	1.85M	4.12M	1.15M	621K	1.08M	2.36M
Current Ratio	6.11x	8.77x	1.82x	14.70x	12.10x	6.72x	4.73x	4.56x
Quick Ratio	6.44x	9.14x	1.82x	14.69x	12.07x	6.66x	4.50x	4.34x
Cash Conversion Cycle	-	-	-	-6.26K	-1.39K	-50.49	298.9	500.46
Total Non-Current Liabilities+	4.87M	5.53M	9.49M	12.83M	10.64M	10.83M	11.69M	23.62M
Long-Term Debt	4.87M	5.53M	8.02M	9.31M	7.8M	8.19M	8.37M	18.73M
Capital Lease Obligations	0	0	825.04K	3.48M	2.74M	2.59M	3.12M	2.56M
Deferred Tax Liabilities	0	0	0	0	5K	0	9K	0
Other Non-Current Liabilities	0	0	647.68K	45.27K	92K	59K	194K	2.34M
Total Liabilities	6.62M	7.53M	14.41M	20.67M	22.21M	25.75M	26.14M	45.15M
Total Debt+	5.26M	5.82M	9.65M	14.12M	11.68M	11.88M	12.7M	22.65M
Net Debt	-4.84M	-10.99M	3.08M	-98.81M	-123.83M	-6.01M	-8.91M	-11.53M
Debt / Equity	1.16x	0.56x	3.64x	0.12x	0.08x	0.10x	0.13x	0.20x
Debt / EBITDA	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-
Interest Coverage	-274.14x	-291.38x	-170.37x	-56.69x	-67.98x	-137.13x	-37.37x	-30.90x
Total Equity+	4.53M	10.45M	2.65M	118.92M	148.62M	120.32M	98.02M	113.25M
Equity Growth %	-	1.31%	-0.75%	43.87%	0.25%	-0.19%	-0.19%	0.16%
Book Value per Share	0.22	0.50	0.12	6.57	6.25	4.66	3.50	3.46
Total Shareholders' Equity	4.53M	10.45M	2.65M	118.92M	148.62M	120.32M	98.02M	113.25M
Common Stock	2M	2.48M	2.78M	4.64M	4.43M	4.44M	4.93M	6.43M
Retained Earnings	-30.73M	-39.81M	-54.35M	-73.83M	-87.17M	-118.21M	-160.83M	-217.74M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	63K	39K	703.81K	3.42M	202K	176K	137K	10.21M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-8.29M	-8.14M	-5.93M	-6.86M	-25.34M	-28.76M	-44.78M	-49.23M
Operating CF Margin %	-	-	-	-99.48%	-29.74%	-9.32%	-10.3%	-10.89%
Operating CF Growth %	-	0.02%	0.27%	-0.16%	-2.69%	-0.13%	-0.56%	-0.1%
Net Income	-10.33M	-9.04M	-8.38M	-12.15M	-24.64M	-30.06M	-44.66M	-56.43M
Depreciation & Amortization	87K	95K	433K	620K	1.66M	1.93M	2.36M	2.72M
Stock-Based Compensation	24K	28K	346K	2.55M	1.27M	2.7M	2.61M	3.97M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	2.39M	575K	716K	700K	-2.48M	-3.42M	-1.6M	-2.44M
Working Capital Changes	-454K	201K	957K	1.42M	-1.14M	86K	-3.49M	2.96M
Change in Receivables	-161K	-155K	-1.39M	365K	-2.52M	7K	-1.54M	-751K
Change in Inventory	0	0	0	-55K	-291K	-536K	-2.43M	-1.4M
Change in Payables	0	0	0	0	0	0	0	0
Cash from Investing+	-91K	-75K	-5.79M	-10.69M	-11.82M	-89.95M	32.01M	-16.32M
Capital Expenditures	-91K	-77K	-51K	-562K	-1.47M	-886K	-2.5M	-1.17M
CapEx % of Revenue	-	-	-	8.14%	1.72%	0.29%	0.57%	0.26%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	0	2K	-5.73M	-10.12M	-10.35M	-15.35M	-6.15M	-2.64M
Cash from Financing+	1.11M	15M	700K	104.03M	76.47M	-983K	16.86M	77.44M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	0	0	-33K	-151K	-393K	-167K	-243K	-758K
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-8.38M	-8.22M	-11.72M	-17.54M	-37.15M	-45.1M	-55.74M	-55.3M
FCF Margin %	-	-	-	-254.26%	-43.61%	-14.63%	-12.82%	-12.23%
FCF Growth %	-	0.02%	-0.43%	-0.5%	-1.12%	-0.21%	-0.24%	0.01%
FCF per Share	-0.40	-0.39	-0.55	-0.97	-1.56	-1.75	-1.99	-1.69
FCF Conversion (FCF/Net Income)	0.80x	0.90x	0.63x	0.56x	0.92x	0.92x	1.04x	0.83x
Interest Paid	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-229.09%	-121.21%	-144.83%	-20.15%	-20.65%	-23.22%	-39.58%	-56.07%
Return on Invested Capital (ROIC)	-	-	-246%	-65.17%	-87.69%	-35.04%	-33.26%	-46.22%
Gross Margin	-	-	-	56.52%	64.44%	62.71%	61.91%	65.67%
Net Margin	-	-	-	-17746.38%	-3241.67%	-1012.48%	-993.84%	-1310.24%
Debt / Equity	1.16x	0.56x	3.64x	0.12x	0.08x	0.10x	0.13x	0.20x
Interest Coverage	-274.14x	-291.38x	-170.37x	-56.69x	-67.98x	-137.13x	-37.37x	-30.90x
FCF Conversion	0.80x	0.90x	0.63x	0.56x	0.92x	0.92x	1.04x	0.83x
Revenue Growth	-	-	-	-	1134.78%	261.97%	40.99%	3.98%

Revenue by Geography

	2021	2022	2023	2024
Germany	-	2.8M	3.82M	4.06M
Germany Growth	-	-	36.29%	6.42%
Switzerland	-	214K	373K	763K
Switzerland Growth	-	-	74.30%	104.56%
Spain	-	24K	37K	72K
Spain Growth	-	-	54.17%	94.59%
AUSTRIA	-	-	122K	60K
AUSTRIA Growth	-	-	-	-50.82%
ITALY	-	-	-	46K
ITALY Growth	-	-	-	-
GERMANY	800K	-	-	-
GERMANY Growth	-	-	-	-
SPAIN	24K	-	-	-
SPAIN Growth	-	-	-	-
BELGIUM	20K	-	-	-
BELGIUM Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

Nyxoah S.A. (NYXH) reported $5.6M in revenue for fiscal year 2024.

Nyxoah S.A. (NYXH) grew revenue by 4.0% over the past year. Growth has been modest.

Nyxoah S.A. (NYXH) reported a net loss of $83.7M for fiscal year 2024.

Dividend & Returns

Nyxoah S.A. (NYXH) has a return on equity (ROE) of -56.1%. Negative ROE indicates the company is unprofitable.

Nyxoah S.A. (NYXH) had negative free cash flow of $70.3M in fiscal year 2024, likely due to heavy capital investments.