Nyxoah Reports Fourth Quarter and Financial Year 2024 Financial and Operating Results

Core Insights - Nyxoah reported financial and operational results for Q4 and FY 2024, highlighting a transformative year with significant advancements in their product and market strategy [1][3][4] Financial Performance - Q4 2024 revenue was €1.3 million, with deferred revenue accounting for €0.6 million; without this deferral, revenue would have been €1.9 million, a 46% increase from Q3 2024 [4] - Full year 2024 revenue reached €4.5 million, an 18% increase from €4.3 million in 2023, driven by the commercialization of the Genio® system, particularly in Germany [4] - Gross profit for Q4 2024 was €0.9 million, resulting in a gross margin of 73%, compared to a gross margin of 60% in Q4 2023 [5][6] - Total operating loss for Q4 2024 was €18.3 million, up from €10.8 million in Q4 2023, primarily due to increased R&D and commercial expenses [10] Research and Development - R&D expenses for Q4 2024 were €11.7 million, compared to €7.3 million in Q4 2023; for the full year, R&D expenses totaled €34.3 million, up from €26.7 million in 2023 [7] Selling, General and Administrative Expenses - Selling, general and administrative expenses for Q4 2024 were €8.1 million, an increase from €4.9 million in Q4 2023; for the full year, these expenses were €28.5 million, compared to €21.7 million in 2023 [8][9] Cash Position - As of December 31, 2024, cash and financial assets totaled €85.6 million, an increase from €57.7 million at the end of 2023 [11] Market Position and Future Outlook - The company is positioned for a U.S. commercial launch of the Genio® system in March 2025, with FDA approval expected by the end of Q1 2025 [1][3]