Nyxoah Announces Chief Financial Officer Transition

Nyxoah outlines a CFO transition while maintaining its previously issued 2026 revenue, margin and expense guidance ranges.

Rhea-AI Summary

Nyxoah (NYXH) announced that Chief Financial Officer John Landry will step down effective October 2, 2026, and reaffirmed its full-year 2026 financial guidance.

Loïc Moreau, currently President International and former CFO, will assume the role of interim CFO upon Landry’s departure while a search for a permanent successor is conducted. The company continues to expect 2026 worldwide net revenue between €36 million and €40 million, gross margin between 60% and 62%, total operating expenses between €99 million and €102 million, and non-GAAP cash operating expenses between €88 million and €90 million.

Nyxoah develops the Genio hypoglossal neurostimulation system for obstructive sleep apnea, which has held a CE Mark since 2019 and received FDA approval in August 2025 as a prescription-only device.

Positive

• 2026 net revenue guidance reaffirmed at €36–40 million
• 2026 gross margin guidance maintained at 60%–62%
• 2026 total operating expenses guided at €99–102 million
• 2026 non-GAAP cash operating expenses guided at €88–90 million

Negative

• Chief Financial Officer John Landry to step down effective October 2, 2026

Market Context

The -7.09% 24-hour reaction recorded on Aug 5 followed results that raised operating-expense guidanc...

Analysis

The -7.09% 24-hour reaction recorded on Aug 5 followed results that raised operating-expense guidance; this announcement reaffirmed previously issued 2026 guidance while disclosing the CFO transition.

Key Figures

CFO departure effective date: October 2, 2026 2026 net revenue guidance: €36 million to €40 million 2026 gross margin guidance: 60% to 62% +2 more

CFO departure effective date

October 2, 2026

Chief Financial Officer transition

2026 net revenue guidance

€36 million to €40 million

Full year 2026 reaffirmed guidance

2026 gross margin guidance

60% to 62%

Full year 2026 reaffirmed guidance

2026 operating expense guidance

€99 million to €102 million

Full year 2026 reaffirmed guidance

2026 non-GAAP cash operating expense guidance

€88 million to €90 million

Full year 2026 reaffirmed guidance

Historical Context

1 past event · Latest: Aug 05

1 event

1. Aug 05

   Q2 earnings report

   24h Move

   -7.1%

   Maintained revenue and margin guidance while raising total operating expense guidance

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

obstructive sleep apnea, neuromodulation, hypoglossal neurostimulation, non-GAAP cash operating expenses, +1 more

5 terms

obstructive sleep apnea medical

"treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation"

Obstructive sleep apnea is a common medical condition where the throat repeatedly narrows or closes during sleep, causing short pauses in breathing, drops in blood oxygen and fragmented rest. It matters to investors because it creates ongoing demand for medical devices, diagnostics, treatments and sleep-monitoring services, and it can affect population health, workforce productivity and healthcare spending—like a recurring leak in a system that requires continual repair and monitoring.

neuromodulation technical

"through neuromodulation"

Neuromodulation is the use of devices or targeted treatments to change how nerves or brain circuits send signals, much like adjusting the volume or tuning on an audio system to alter what you hear. For investors, it matters because these therapies can treat chronic conditions (pain, movement disorders, depression) where existing medicines fall short, creating potential markets, regulatory milestones, and durable revenue streams if technologies prove safe and effective.

hypoglossal neurostimulation medical

"leadless and battery-free hypoglossal neurostimulation therapy for OSA"

An implantable therapy that uses electrical pulses to activate the hypoglossal nerve, which controls the tongue, to keep the upper airway open during sleep. Think of it as a pacemaker for the tongue that senses breathing and gently moves tongue muscles to prevent airway collapse. It matters to investors because device approvals, clinical results, and reimbursement influence market potential, sales, and regulatory risk for companies developing or selling this technology.

non-GAAP cash operating expenses financial

"Non-GAAP cash operating expenses reflect expected total operating expenses"

Operating costs measured on a cash basis after removing non-cash accounting charges and other items companies choose to exclude from standard financial statements. It typically starts with GAAP operating expenses and subtracts non-cash items such as depreciation, amortization, stock‑based compensation and impairments (and sometimes adds or excludes one‑time charges), so it aims to show the actual cash spent running the business. Investors use it as a way to see recurring cash outflows for operations, like checking the money that really leaves the bank to keep the business running.

FDA approval regulatory

"Nyxoah received approval from the FDA in August 2025"

FDA approval is the U.S. Food and Drug Administration’s formal authorization for a drug, vaccine, or medical device to be marketed and sold after reviewers determine it meets standards for safety and effectiveness. For investors it’s a pivotal milestone because it opens the door to legal, large-scale sales and can sharply boost revenue potential while reducing regulatory uncertainty—like receiving a safety certificate that lets a new bridge carry traffic and tolls.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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REGULATED INFORMATION
INSIDE INFORMATION

Nyxoah Announces Chief Financial Officer Transition

Loïc Moreau, Nyxoah’s President International and former CFO, to serve as interim CFO

Company reaffirms full year 2026 financial guidance

Mont-Saint-Guibert, Belgium – September 21, 2026, 22:01h CET / 4:01h ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company that develops breakthrough treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation, today announced that John Landry, Chief Financial Officer, will step down from his role effective October 2, 2026 to pursue another professional opportunity. Loïc Moreau, the Company’s President International and former CFO, will serve as Interim CFO effective upon Mr. Landry’s departure while the Company conducts a search for a permanent successor.

“We are fortunate to have Loïc available to step into the interim CFO role. He knows this Company deeply, having previously served as our CFO prior to becoming President International, and that continuity gives us full confidence in a smooth transition as we continue to execute on our growth strategy and path to profitability,” commented Olivier Taelman, Chief Executive Officer. “I want to thank John for his contribution to Nyxoah and wish him success in his next endeavor.”

Loïc Moreau joined Nyxoah in 2022 as Chief Financial Officer and transitioned to the role of President International in 2024. He is a seasoned finance leader with more than 20 years of experience, having held senior roles at GSK, including in M&A/Corporate Development and as Country CFO across multiple geographies. Prior to GSK, he began his career in External Audit at EY and in Corporate Finance at PwC.

Reaffirmation of Financial Guidance

Nyxoah is reaffirming the financial guidance for the full year 2026 that it previously issued:

• The Company expects worldwide net revenue for the full year 2026 to be in the range of €36 million to €40 million.
• The Company expects gross margin for the full year 2026 to be in the range of 60% to 62%.
• The Company expects total operating expenses for the full year 2026 to be in the range of €99 million to €102 million.
• The Company expects non-GAAP cash operating expenses for the full year 2026 to be in the range of €88 million to €90 million. Non-GAAP cash operating expenses reflect expected total operating expenses less non-cash expenses such as depreciation, amortization, and share-based compensation.

About Nyxoah

Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat OSA. Nyxoah’s lead solution is the Genio system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study in 2024 and received approval from the FDA in August 2025, with the treatment of CCC patients included in the warning section of our indications for use.

For more information, please visit http://www.nyxoah.com.

Caution – CE marked since 2019. FDA approved in August 2025 as prescription-only device.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or management’s current expectations regarding the transition of the Chief Financial Officer role; the Company’s leadership and organizational structure; Nyxoah’s financial guidance for the full year 2026; the Company’s results of operations, financial condition, liquidity, performance, prospects, growth, future revenue and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. These risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 26, 2026 and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:

Nyxoah

Rémi Renard, Head of Investor Relations & Corporate Communication
IR@nyxoah.com

Attachment

• ENGLISH_Nyxoah Announces CFO Transition PR

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who will serve as Nyxoah's interim Chief Financial Officer and when does this take effect?

Loïc Moreau, currently President International and former CFO, will serve as interim CFO. His appointment becomes effective upon John Landry’s departure on October 2, 2026.

What experience does interim CFO Loïc Moreau bring to the role at Nyxoah?

Loïc Moreau joined Nyxoah in 2022 as Chief Financial Officer and became President International in 2024. He has more than 20 years of finance experience, including senior roles at GSK in M&A/Corporate Development and as Country CFO across multiple geographies, and earlier positions in External Audit at EY and Corporate Finance at PwC.

How does Nyxoah define non-GAAP cash operating expenses in its 2026 guidance?

Non-GAAP cash operating expenses are defined as expected total operating expenses for 2026 minus non-cash expenses such as depreciation, amortization, and share-based compensation. Nyxoah expects these non-GAAP cash operating expenses to be in the range of €88 million to €90 million.

What are the key regulatory milestones already achieved for Nyxoah's Genio system?

The Genio system received its European CE Mark in 2019 after the BLAST OSA study and later obtained CE mark approval for treating Complete Concentric Collapse patients following the BETTER SLEEP study. In August 2025, the system received FDA approval in the United States as a prescription-only device, with treatment of CCC patients included in the warning section of the indications for use.