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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 $8.7M

LTM EBITDA -$69.5M

EV

$245M

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Nyxoah Financials

Nyxoah has a last 12-month revenue (LTM) of $8.7M and a last 12-month EBITDA of -$69.5M.

In the most recent fiscal year, Nyxoah achieved revenue of $5.1M and an EBITDA of -$59.3M.

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

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Nyxoah P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $8.7M XXX $5.1M XXX XXX XXX
Gross Profit $6.3M XXX $3.3M XXX XXX XXX
Gross Margin 72% XXX 66% XXX XXX XXX
EBITDA -$69.5M XXX -$59.3M XXX XXX XXX
EBITDA Margin -797% XXX -1169% XXX XXX XXX
EBIT -$78.0M XXX -$66.1M XXX XXX XXX
EBIT Margin -894% XXX -1301% XXX XXX XXX
Net Profit -$78.7M XXX -$66.5M XXX XXX XXX
Net Margin -902% XXX -1310% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Nyxoah Stock Performance

As of May 30, 2025, Nyxoah's stock price is EUR 7 (or $8).

Nyxoah has current market cap of EUR 259M (or $291M), and EV of EUR 218M (or $245M).

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Nyxoah Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$245M $291M XXX XXX XXX XXX $-2.19

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Nyxoah Valuation Multiples

As of May 30, 2025, Nyxoah has market cap of $291M and EV of $245M.

Nyxoah's trades at 48.3x EV/Revenue multiple, and -4.1x EV/EBITDA.

Equity research analysts estimate Nyxoah's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Nyxoah has a P/E ratio of -3.7x.

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Nyxoah Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $291M XXX $291M XXX XXX XXX
EV (current) $245M XXX $245M XXX XXX XXX
EV/Revenue 28.1x XXX 48.3x XXX XXX XXX
EV/EBITDA -3.5x XXX -4.1x XXX XXX XXX
EV/EBIT -3.1x XXX -3.7x XXX XXX XXX
EV/Gross Profit 39.2x XXX n/a XXX XXX XXX
P/E -3.7x XXX -4.4x XXX XXX XXX
EV/FCF -3.3x XXX -3.9x XXX XXX XXX

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Nyxoah Margins & Growth Rates

Nyxoah's last 12 month revenue growth is 221%

Nyxoah's revenue per employee in the last FY averaged $28K, while opex per employee averaged $0.4M for the same period.

Nyxoah's rule of 40 is -746% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Nyxoah's rule of X is -244% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Nyxoah Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 221% XXX 208% XXX XXX XXX
EBITDA Margin -797% XXX -1169% XXX XXX XXX
EBITDA Growth 24% XXX n/a XXX XXX XXX
Rule of 40 -746% XXX -947% XXX XXX XXX
Bessemer Rule of X XXX XXX -244% XXX XXX XXX
Revenue per Employee XXX XXX $28K XXX XXX XXX
Opex per Employee XXX XXX $0.4M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 761% XXX XXX XXX
Opex to Revenue XXX XXX 1366% 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

Valuation data powered by FactSet, Inc.

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 $291M
What is the current revenue of Nyxoah? Nyxoah's last 12 months revenue is $8.7M.
What is the current revenue growth of Nyxoah? Nyxoah revenue growth (NTM/LTM) is 221%.
What is the current EV/Revenue multiple of Nyxoah? Current revenue multiple of Nyxoah is 28.1x.
Is Nyxoah profitable? Yes, Nyxoah is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Nyxoah? Nyxoah's last 12 months EBITDA is -$69.5M.
What is Nyxoah's EBITDA margin? Nyxoah's last 12 months EBITDA margin is -797%.
What is the current EV/EBITDA multiple of Nyxoah? Current EBITDA multiple of Nyxoah is -3.5x.
What is the current FCF of Nyxoah? Nyxoah's last 12 months FCF is -$73.5M.
What is Nyxoah's FCF margin? Nyxoah's last 12 months FCF margin is -843%.
What is the current EV/FCF multiple of Nyxoah? Current FCF multiple of Nyxoah is -3.3x.

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