Company: NYXH
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000398
Chunk: 10

Company: Nyxoah SA
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 10
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Revenue
Revenue was €4.3 million for the year ended December 31, 2023, compared to €3.1 million for the year ended December 31, 2022. The increase in revenue was attributable to our growing commercialization of the Genio system, including in additional markets, such as Austria.
Cost of Goods Sold
Cost of goods sold was €1.7 million for the year ended December 31, 2023, compared to €1.2 million for the year ended December 31, 2022. The increase in cost of goods sold was attributable to our growing commercialization of the Genio system, including in additional markets, such Austria.
Research and Development Expenses (in aggregate)
Research and development expenses (in aggregate) increased by €10.8 million, or 68.0%, from €15.9 million in 2022 to €26.7 million in 2023 due to the factors discussed below with respect to each component of research and development expenses (in aggregate).
Staff costs Expenses. Staff cost expenses increased by €2.7 million, or 24%, from €11.1 million in 2022 to € 13.8 million in 2023 mainly due to an increase in staff to support our clinical, R&D and manufacturing activities.
Consulting and Contractors’ Fees Expenses. Consulting and contractors’ fees expenses increased by €0.2 million, or 8%, from €2.6 million in 2022 to €2.8 million in 2023 due to an increase in consulting and contractors’ fees to support our clinical, R&D and manufacturing activities.
Clinical Expenses. Clinical expenses decreased by €3.7 million, or 57%, from €8.6 million in 2022, to €4.9 million in 2023. The decrease in clinical expense was mainly due to a decrease in clinical study activities due to finalizing enrollment of Dream Study.
Manufacturing and Outsourced Development Expenses. Manufacturing and outsourced development expenses increased by €1.5 million, or 30%, from €5.0 million in 2022 to €6.5 million in 2023 due to an increase in manufacturing and outsourced development expenses to support our clinical, R&D and manufacturing activities.
IP costs Expenses. Legal fee expenses increased by €0.5 million, or 125%, from €0.4 million for the year ended December 31, 2022, to €0.9 million for