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
Valuation FY2025 figures against the last close
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.
Others in SIC 3842
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ISRG | INTUITIVE SURGICAL INC | $129.55B | 46.6x | 20.5% |
| EW | Edwards Lifesciences Corp | $51.82B | 49.1x | 11.5% |
| STE | STERIS plc | $21.90B | 28.3x | 8.7% |
| ZBH | ZIMMER BIOMET HOLDINGS, INC. | $18.71B | 27.6x | 7.2% |
| ALGN | ALIGN TECHNOLOGY INC | $11.27B | 28.1x | 0.9% |
| MSA | MSA Safety Inc | $7.28B | 26.6x | 3.7% |
| ESTA | ESTABLISHMENT LABS HOLDINGS INC. | $2.21B | — | 27.1% |
| CDRE | Cadre Holdings, Inc. | $1.27B | 29.2x | 7.5% |