Revenue growth and guidance suggest commercial traction, but the EPS miss and high cash burn rate warrant caution. Monitor Q2 2026 results for sequential revenue acceleration and margin improvement; the EIB loan draw provides near-term liquidity but does not eliminate dilution risk.
Price Chart
Executive Summary
Nyxoah reported Q1 2026 revenue of €6.4M, up from €1.1M YoY, driven by U.S. Genio launch, but EPS of -€0.59 missed consensus of -€0.49 by 20.6%. The company guided Q2 U.S. net revenue growth of 25-30% sequentially and full-year 2026 worldwide net revenue of €36M-€40M, with gross margin improving to 60-62%.
Key Financial Metrics
Key Facts
- Q1 2026 net revenue €6.4M vs €1.1M YoY; U.S. net revenue €4.3M, up 25% sequentially from Q4 2025
- EPS -€0.59 missed consensus -€0.49 by 20.6%
- Gross margin 57% in Q1 2026 vs 62% in Q1 2025, due to production yield issues (now addressed)
- Operating loss €20.5M, roughly flat vs €20.6M YoY
- Cash, cash equivalents and financial assets €25.9M at March 31, 2026; expects to draw €13.8M from EIB loan in Q2 2026
- Full-year 2026 revenue guidance €36M-€40M; Q2 U.S. net revenue guided to grow 25-30% sequentially
- Full-year 2026 gross margin guided to 60-62%; total operating expenses guided to €97M-€99M
Financial Impact
Revenue growth trajectory positive but EPS miss of 20.6% and ongoing operating losses offset; cash runway extended by EIB draw
Risk Factors
- EPS miss of 20.6% signals higher-than-expected costs or lower-than-expected profitability
- Cash burn remains high; additional financing may be needed if revenue growth slows
- Production yield issues impacted gross margin; resolution is unproven at scale
- Reimbursement clarity is positive but prior-authorization backlog (241 patients pending) could delay revenue recognition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3293357 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 6-K | $0.8950 $0.8220 | ▲ +8.16% | ▲ +6.98% | $0.8560 (+4.36%) |
Oct 19, 2026 7d ago | Press Release | $0.9540 $0.9400 | ▲ +1.47% | ▲ +1.80% | $0.8560 (+10.27%) |
Sep 22, 2026 4w ago | 6-K | $1.33 $1.27 | ▼ −4.51% | ▼ −4.43% | $0.8560 (−35.64%) |
Jun 23, 2026 17w ago | 6-K | $1.62 $1.63 | ▼ −0.62% | ▼ −0.47% | $0.8560 (+47.16%) |
Jun 11, 2026 19w ago | 6-K | $1.39 $1.55 | ▼ −11.51% | ▼ −9.75% | $0.8560 (+38.42%) |
Jun 8, 2026 20w ago | 6-K | $1.34 $1.31 | ▲ +2.24% | ▲ +0.66% | $0.8560 (+36.12%) |
Jun 8, 2026 20w ago | 424B5 | $1.39 $1.34 | ▲ +3.60% | ▲ +3.30% | $0.8560 (+38.42%) |
Jun 5, 2026 20w ago | Press Release | $1.45 $1.39 | ▲ +4.14% | ▲ +4.36% | $0.8560 (+40.97%) |
Jun 4, 2026 20w ago | 424B5 | $1.45 $1.39 | ▲ +4.14% | ▲ +4.36% | $0.8560 (+40.97%) |
May 20, 2026 22w ago | Press Release | $2.87 $2.87 | · 0.00% | ▼ −0.45% | $0.8560 (−70.17%) |
US Market Status
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