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Nyxoah Valuation Multiples

Discover revenue and EBITDA valuation multiples for Nyxoah and similar public comparables like Myomo, InfuSystem, and SmartVest.

Nyxoah Overview

About Nyxoah

Nyxoah SA is a health-technology company focused on the development and commercialization of solutions and services to treat sleep-disordered breathing conditions. The company's solution platform is based on the Genio system, a CE-Mark validated, user-centered, bilateral neurostimulation therapy to treat moderate to severe Obstructive Sleep Apnea (OSA), the common sleep disordered breathing condition that is associated with increased mortality risk and comorbidities including cardiovascular diseases, depression and stroke.


Founded

2009

HQ

Belgium
Employees

184

Website

nyxoah.com

Financials

LTM Revenue $9.0M

LTM EBITDA -$59.9M

EV

$152M

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Nyxoah Financials

Nyxoah has a last 12-month revenue of $9.0M and a last 12-month EBITDA of -$59.9M.

In the most recent fiscal year, Nyxoah achieved revenue of $4.9M and an EBITDA of -$56.7M.

Nyxoah expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Nyxoah P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $4.7M $4.9M XXX XXX XXX
Gross Profit $2.1M $2.9M XXX XXX XXX
Gross Margin 44% 60% XXX XXX XXX
EBITDA -$45.2M -$56.7M XXX XXX XXX
EBITDA Margin -968% -1169% XXX XXX XXX
Net Profit -$33.5M -$46.4M XXX XXX XXX
Net Margin -718% -956% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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Nyxoah Stock Performance

As of April 15, 2025, Nyxoah's stock price is EUR 5 (or $6).

Nyxoah has current market cap of EUR 204M (or $219M), and EV of EUR 141M (or $152M).

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Nyxoah Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$152M $219M XXX XXX XXX XXX $-1.99

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Nyxoah Valuation Multiples

As of April 15, 2025, Nyxoah has market cap of $219M and EV of $152M.

Nyxoah's trades at 16.8x LTM EV/Revenue multiple, and -2.5x LTM EBITDA.

Analysts estimate Nyxoah's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Nyxoah Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $152M XXX XXX XXX
EV/Revenue 31.3x XXX XXX XXX
EV/EBITDA -2.7x XXX XXX XXX
P/E -3.4x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -2.6x XXX XXX XXX

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Nyxoah Valuation Multiples

Nyxoah's NTM/LTM revenue growth is 246%

Nyxoah's revenue per employee for the last fiscal year averaged $26K, while opex per employee averaged $0.4M for the same period.

Over next 12 months, Nyxoah's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Nyxoah's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Nyxoah Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 4% XXX XXX XXX XXX
EBITDA Margin -1169% XXX XXX XXX XXX
EBITDA Growth 26% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -923% XXX XXX XXX XXX
Revenue per Employee $26K XXX XXX XXX XXX
Opex per Employee $0.4M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 601% XXX XXX XXX XXX
R&D Expenses to Revenue 761% XXX XXX XXX XXX
Opex to Revenue 1366% XXX XXX XXX XXX

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Nyxoah Public Comps

See public comps and valuation multiples for Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Philips XXX XXX XXX XXX XXX XXX
Perspective Therapeutics XXX XXX XXX XXX XXX XXX
SmartVest XXX XXX XXX XXX XXX XXX
InfuSystem XXX XXX XXX XXX XXX XXX
Myomo XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Nyxoah M&A and Investment Activity

Nyxoah acquired  XXX companies to date.

Last acquisition by Nyxoah was  XXXXXXXX, XXXXX XXXXX XXXXXX . Nyxoah acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Nyxoah

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Nyxoah

When was Nyxoah founded? Nyxoah was founded in 2009.
Where is Nyxoah headquartered? Nyxoah is headquartered in Belgium.
How many employees does Nyxoah have? As of today, Nyxoah has 184 employees.
Who is the CEO of Nyxoah? Nyxoah's CEO is Mr. Olivier Taelman.
Is Nyxoah publicy listed? Yes, Nyxoah is a public company listed on BRU.
What is the stock symbol of Nyxoah? Nyxoah trades under NYXH ticker.
When did Nyxoah go public? Nyxoah went public in 2020.
Who are competitors of Nyxoah? Similar companies to Nyxoah include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem.
What is the current market cap of Nyxoah? Nyxoah's current market cap is $219M
What is the current revenue of Nyxoah? Nyxoah's last 12-month revenue is $9.0M.
What is the current EBITDA of Nyxoah? Nyxoah's last 12-month EBITDA is -$59.9M.
What is the current EV/Revenue multiple of Nyxoah? Current revenue multiple of Nyxoah is 16.8x.
What is the current EV/EBITDA multiple of Nyxoah? Current EBITDA multiple of Nyxoah is -2.5x.
What is the current revenue growth of Nyxoah? Nyxoah revenue growth between 2023 and 2024 was 4%.
Is Nyxoah profitable? Yes, Nyxoah is EBITDA-positive (as of the last 12 months).

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