Investors in Nyxoah SA (EBR:NYXH) had a good week, as its shares rose 3.9% to close at €1.27 following the release of its second-quarter results. Revenues were in line with expectations, at €7.7m, while statutory losses ballooned to €0.58 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
After the latest results, the eight analysts covering Nyxoah are now predicting revenues of €37.3m in 2026. If met, this would reflect a huge 72% improvement in revenue compared to the last 12 months. Losses are forecast to balloon 39% to €1.34 per share. Before this latest report, the consensus had been expecting revenues of €37.4m and €0.90 per share in losses. So it's pretty clear the analysts have mixed opinions on Nyxoah even after this update; although they reconfirmed their revenue numbers, it came at the cost of a massive increase in per-share losses.
View our latest analysis for Nyxoah
As a result, there was no major change to the consensus price target of €5.30, with the analysts implicitly confirming that the business looks to be performing in line with expectations, despite higher forecast losses. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Nyxoah at €8.30 per share, while the most bearish prices it at €2.00. So we wouldn't be assigning too much credibility to analyst price targets in this case, because there are clearly some widely different views on what kind of performance this business can generate. With this in mind, we wouldn't rely too heavily the consensus price target, as it is just an average and analysts clearly have some deeply divergent views on the business.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Nyxoah's past performance and to peers in the same industry. The analysts are definitely expecting Nyxoah's growth to accelerate, with the forecast 197% annualised growth to the end of 2026 ranking favourably alongside historical growth of 51% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 7.4% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Nyxoah to grow faster than the wider industry.
The Bottom Line
The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Nyxoah. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at €5.30, with the latest estimates not enough to have an impact on their price targets.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Nyxoah going out to 2028, and you can see them free on our platform here..
You still need to take note of risks, for example - Nyxoah has 4 warning signs (and 3 which are a bit unpleasant) we think you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.