Envoy Medical, Inc. COCH
or the context otherwise requires, all references in this section to "Envoy Medical," "we," "us"
or "our" refer to Envoy Medical, Inc. following the Business Combination, other than certain historical information which
refers to the business of Legacy Envoy prior to the consummation of the Business Combination.
company focused on providing innovative medical technologies across the hearing loss spectrum. Our technologies are designed to shift
Last close
0.60
2026-10-23
Market cap
$46.0M
2026-06-30 share count
52-week range
0.36 - 0.95
Valuation FY2025 figures against the last close
P/S190.7x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield4.0%
Diluted EPS-1.23
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $241.0K | $225.0K | $316.0K | $237.0K | — | — |
| Cost of revenue | $874.0K | $742.0K | $789.0K | $498.0K | — | — |
| Gross profit | -$633.0K | -$517.0K | -$473.0K | -$261.0K | — | — |
| R&D | $12.5M | $10.2M | $9.0M | $5.0M | — | — |
| SG&A | $7.9M | $6.8M | $7.3M | $2.6M | — | — |
| Total operating expenses | $22.5M | $19.5M | $18.7M | $8.9M | — | — |
| Operating income | -$22.3M | -$19.3M | -$18.4M | -$8.7M | -$5.2M | — |
| Interest expense | $1.6M | $816.0K | — | — | — | — |
| Pre-tax income | -$23.8M | -$20.8M | — | $20.7M | -$251.6K | — |
| Income tax | — | — | — | $1.5M | — | — |
| Net income | -$23.8M | -$20.8M | -$29.9M | -$15.9M | -$251.6K | — |
| EPS, basic | -1.23 | -1.49 | -2.54 | -1.57 | — | — |
| EPS, diluted | -1.23 | -1.49 | -2.54 | -1.57 | — | — |
| Shares, diluted (wtd. avg.) | 23.3M | 18.8M | 12.3M | 10.1M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $3.7M | $5.5M | $4.2M | $183.0K | $1.1M | $25.0K |
| Receivables | $34.0K | $38.0K | $70.0K | $41.0K | — | — |
| Inventory | $1.5M | $1.7M | $1.4M | $1.3M | — | — |
| Total current assets | $6.3M | $8.9M | $7.5M | $1.6M | $863.2K | $25.0K |
| Property, plant and equipment | $1.0M | $1.3M | $351.0K | $331.0K | — | — |
| Total assets | $8.6M | $11.5M | $8.3M | $2.6M | $426.9M | $120.0K |
| Accounts payable | $2.9M | $1.7M | $1.6M | $1.0M | $618.7K | $95.7K |
| Total current liabilities | $11.6M | $7.5M | $7.3M | $2.5M | $2.7M | $95.7K |
| Total liabilities | $20.3M | $30.4M | $10.0M | $38.8M | $38.6M | $95.7K |
| Retained earnings | -$313.4M | -$284.7M | -$257.3M | -$226.0M | -$36.7M | -$701 |
| Total equity | -$12.2M | -$18.8M | -$1.8M | -$36.2M | -$45.0M | $24.3K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$18.2M | -$17.9M | -$17.1M | -$8.8M | -$3.2M | — |
| Depreciation and amortisation | $302.0K | $173.0K | $133.0K | $75.0K | — | — |
| Stock-based compensation | $657.0K | $562.0K | $1.6M | — | — | — |
| Capital expenditure | $179.0K | $980.0K | $153.0K | $218.0K | — | — |
| Investing cash flow | -$179.0K | -$980.0K | -$153.0K | -$218.0K | -$425.0M | — |
| Financing cash flow | $16.6M | $20.2M | $21.3M | $8.1M | $428.4M | — |
| Dividends paid | $1.8M | $2.4M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-068309.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $237.0K | $316.0K | $225.0K | $241.0K |
| Gross profit | — | — | -$261.0K | -$473.0K | -$517.0K | -$633.0K |
| Net income | — | -$251.6K | -$15.9M | -$29.9M | -$20.8M | -$23.8M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Officer or director change Item 5.02
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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