Nyxoah Cuts 2026 Revenue Guidance to €33-35M Despite 29% U.S. Sequential Growth
NYXH is trading near its 52-week low of $0.9 (4.5% above the low).
Summary
Nyxoah cut 2026 revenue guidance to €33-35M from €36-40M despite 29% sequential U.S. growth in Q3, while reporting ~€77.0M in cash and submitting a PMA supplement to expand Genio's U.S. label to CCC patients.
Key Events · Earnings and Guidance · NYXH
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2026 Guidance Cut to €33-35M
Full-year 2026 global net revenue guidance lowered from €36-40M to €33-35M, roughly 8-11% below the prior midpoint.
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Q3 Revenue Grows Sequentially
Preliminary Q3 2026 global net revenue ~€9.2M (+19% sequentially), with U.S. net revenue ~€6.7M (+29% sequentially).
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PMA Supplement Filed for CCC
Submitted a PMA supplement to the FDA to expand Genio's U.S. indication to Complete Concentric Collapse patients under Breakthrough Device Designation; ACCCESS showed a 77.2% 12-month AHI responder rate (p<0.001) with zero device- or procedure-related serious adverse events.
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Cash of ~€77.0M at Quarter-End
Cash, cash equivalents and financial assets expected at approximately €77.0 million as of September 30, 2026, per preliminary unaudited figures.
Analysis · NYXH · Industrial Applications And Services
Nyxoah lowered full-year 2026 revenue guidance to €33-35M from €36-40M, a cut of roughly 8-11% at the midpoint, even as Q3 global net revenue of ~€9.2M grew 19% sequentially and U.S. revenue of ~€6.7M grew 29%. The shortfall reflects a U.S. ramp tracking historical new-technology adoption curves rather than the faster trajectory management had guided to — the core thesis question for a company whose valuation rests on Genio's U.S. rollout. Against that, cash of ~€77.0M as of September 30 funds operations without an immediate raise, and the PMA supplement to expand the U.S. indication to Complete Concentric Collapse patients (ACCCESS: 77.2% AHI responder rate, zero device- or procedure-related serious adverse events) would widen the addressable market if approved. This is the first quarterly report under new CEO Liam Kelly, who took over October 1, 2026, and interim CFO Loic Moreau, following the CFO departure disclosed September 22, 2026 — a leadership transition coinciding with a guidance reset. With the stock near its 52-week low, the guidance cut is the dominant fact; the CCC filing and cash position are the offsets.
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At the time of this filing, NYXH was trading at $0.94 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $95.7M. The 52-week trading range was $0.90 to $6.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.