Nyxoah SA cash flow statement

In fiscal 2025, Nyxoah SA's operations generated −$78.0m of cash; it spent $910,150 on capital projects, leaving free cash flow of −$78.9m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Nyxoah SA: cash flow statement, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−8	−30	−30	−48	−53	−78
Stock-based pay	3	2	3	3	4	6
Capital spending	1	2	1	3	1	1
Free cash flow	−8	−32	−31	−51	−55	−79
Free cash flow after stock pay	−11	−33	−34	−54	−59	−84

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Nyxoah SA's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Nyxoah SA.