NASDAQ : COCH
Envoy Medical, Inc. — Financial statements
Healthcare · Medical Devices · United States
Last price 6.68 USD (Nov 2, 2026, 9:30 AM EST) · Market cap 51.57M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Envoy Medical, Inc. (COCH) reported revenue of 207.00K USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 207.00K | 241.00K | 225.00K | 316.00K | 237.00K | 310.00K |
| Cost of Revenue | 815.00K | 684.00K | 742.00K | 789.00K | 498.00K | 769.00K |
| Gross Profit | -608.00K | -443.00K | -517.00K | -473.00K | -261.00K | -459.00K |
| Selling, General & Admin | 8.80M | 9.15M | 8.56M | 8.93M | 3.47M | 2.47M |
| Research & Development | 14.03M | 12.49M | 10.18M | 8.96M | 4.97M | 3.94M |
| Operating Expenses | 22.82M | 21.64M | 18.74M | 17.89M | 8.45M | 6.41M |
| Operating Income | -23.43M | -22.08M | -19.26M | -18.36M | -8.71M | -6.87M |
| Interest Expense | -471.00K | -1.59M | -816.00K | |||
| Other Non Operating Income (Expenses) | 691.00K | 104.00K | -723.00K | 1.77M | -127.00K | -1.80M |
| EBT Excluding Unusual Items | -23.21M | -23.57M | -20.80M | -16.59M | -8.83M | -8.67M |
| Gain (Loss) on Sale of Assets | -1.00K | |||||
| Other Unusual Items | -190.00K | -190.00K | -13.33M | -7.09M | ||
| Pretax Income | -23.40M | -23.76M | -20.80M | -29.92M | -15.92M | -8.68M |
| Net Income | -23.40M | -23.76M | -20.80M | -29.92M | -15.92M | -8.68M |
| Preferred Dividends & Other Adjustments | 5.06M | 4.91M | 7.18M | 1.35M | ||
| Net Income to Common | -28.46M | -28.66M | -27.97M | -31.27M | -15.92M | -8.68M |
| Shares Outstanding (Basic) | 5.59M | 2.33M | 1.88M | 1.23M | 1.01M | 1.01M |
| Shares Outstanding (Diluted) | 5.59M | 2.33M | 1.88M | 1.23M | 1.01M | 1.01M |
| EPS (Basic) | -5.09 | -12.32 | -14.89 | -25.43 | -15.73 | -8.57 |
| EPS (Diluted) | -5.09 | -12.32 | -14.89 | -25.43 | -15.73 | -8.57 |
| Free Cash Flow | -21.71M | -18.38M | -18.93M | -17.24M | -9.02M | -7.06M |
| Free Cash Flow Per Share | -3.89 | -7.90 | -10.07 | -14.03 | -8.91 | -6.97 |
| Gross Margin | -293.72% | -183.82% | -229.78% | -149.68% | -110.13% | -148.06% |
| Operating Margin | -11,319.32% | -9,161.83% | -8,558.22% | -5,809.81% | -3,673.42% | -2,216.45% |
| Profit Margin | -13,747.34% | -11,892.95% | -12,432.44% | -9,895.89% | -6,718.56% | -2,798.39% |
| Free Cash Flow Margin | -10,488.41% | -7,626.56% | -8,412.89% | -5,456.96% | -3,807.17% | -2,277.74% |
| EBITDA | -23.13M | -21.78M | -19.08M | -18.23M | -8.63M | -6.80M |
| D&A For EBITDA | 303.00K | 302.00K | 173.00K | 133.00K | 75.00K | 71.00K |
| EBIT | -23.43M | -22.08M | -19.26M | -18.36M | -8.71M | -6.87M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 19.68M | 3.74M | 5.48M | 4.22M | 183.00K | 1.12M |
| Cash & Short-Term Investments | 19.68M | 3.74M | 5.48M | 4.22M | 183.00K | 1.12M |
| Accounts Receivable | 49.00K | 34.00K | 38.00K | 70.00K | 41.00K | 88.00K |
| Other Receivables | 17.00K | 19.00K | 780.00K | 176.00K | ||
| Receivables | 66.00K | 53.00K | 818.00K | 246.00K | 41.00K | 88.00K |
| Inventory | 1.58M | 1.55M | 1.71M | 1.40M | 1.29M | 1.06M |
| Prepaid Expenses | 593.00K | 941.00K | 887.00K | 1.59M | 129.00K | 167.00K |
| Total Current Assets | 21.92M | 6.28M | 8.90M | 7.46M | 1.65M | 2.44M |
| Property, Plant & Equipment | 1.74M | 1.92M | 2.15M | 815.00K | 908.00K | 188.00K |
| Other Long-Term Assets | 293.00K | 358.00K | 488.00K | |||
| Total Assets | 23.95M | 8.56M | 11.54M | 8.27M | 2.56M | 2.62M |
| Accounts Payable | 2.04M | 2.92M | 1.65M | 1.55M | 1.00M | 661.00K |
| Accrued Expenses | 3.61M | 3.86M | 3.73M | 3.81M | 608.00K | 221.00K |
| Current Portion of Long-Term Debt | 448.00K | |||||
| Current Portion of Leases | 132.00K | 174.00K | 143.00K | 158.00K | 125.00K | |
| Current Income Taxes Payable | 54.00K | |||||
| Current Unearned Revenue | 146.00K | |||||
| Other Current Liabilities | 6.85M | 4.61M | 2.02M | 1.76M | 335.00K | 302.00K |
| Total Current Liabilities | 12.63M | 11.56M | 7.54M | 7.29M | 2.52M | 1.38M |
| Long-Term Debt | 18.72M | 33.40M | 23.48M | |||
| Long-Term Leases | 678.00K | 745.00K | 802.00K | 404.00K | 565.00K | |
| Other Long-Term Liabilities | 6.94M | 8.02M | 3.32M | 2.36M | 2.27M | 2.75M |
| Total Liabilities | 20.25M | 20.32M | 30.38M | 10.05M | 38.75M | 27.61M |
| Common Stock | 8.00K | 3.00K | 2.00K | 2.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 329.79M | 301.36M | 266.01M | 255.60M | 189.90M | 185.18M |
| Retained Earnings | -326.37M | -313.40M | -284.73M | -257.26M | -225.99M | -210.06M |
| Comprehensive Income & Other | 269.00K | 271.00K | -123.00K | -118.00K | -115.00K | -108.00K |
| Shareholders' Equity | 3.69M | -11.77M | -18.84M | -1.78M | -36.20M | -24.99M |
| Total Liabilities & Equity | 23.95M | 8.56M | 11.54M | 8.27M | 2.56M | 2.62M |
| Total Debt | 810.00K | 919.00K | 19.66M | 562.00K | 34.53M | 23.48M |
| Net Cash (Debt) | 18.87M | 2.82M | -14.18M | 3.66M | -34.35M | -22.36M |
| Net Cash Per Share | 3.38 | 1.21 | -7.55 | 2.97 | -33.93 | -22.08 |
| Filing Date Shares Outstanding | 7.72M | 7.69M | 2.13M | 1.96M | 1.95M | 1.01M |
| Total Common Shares Outstanding | 7.72M | 2.89M | 2.13M | 1.96M | 10.12M | 1.01M |
| Working Capital | 9.28M | -5.28M | 1.36M | 171.00K | -871.00K | 1.05M |
| Book Value Per Share | 0.48 | -4.07 | -8.83 | -0.91 | -3.58 | -24.67 |
| Tangible Book Value | 3.69M | -11.77M | -18.84M | -1.78M | -36.20M | -24.99M |
| Tangible Book Value Per Share | 0.48 | -4.07 | -8.83 | -0.91 | -3.58 | -24.67 |
| Machinery | 6.18M | 6.14M | 6.11M | 5.01M | 4.64M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -23.40M | -23.76M | -20.80M | -29.92M | -15.92M | -8.68M |
| Depreciation & Amortization | 303.00K | 302.00K | 173.00K | 133.00K | 75.00K | 71.00K |
| Other Amortization | 934.00K | 964.00K | 1.05M | 602.00K | ||
| Loss (Gain) From Sale of Assets | 1.00K | |||||
| Stock-Based Compensation | 968.00K | 745.00K | 562.00K | 1.57M | ||
| Other Operating Activities | 260.00K | 1.71M | 1.70M | 11.50M | 7.20M | 1.75M |
| Change in Accounts Receivable | -6.00K | 4.00K | 32.00K | -29.00K | 47.00K | -19.00K |
| Change in Inventory | -44.00K | 126.00K | -380.00K | -10.00K | -194.00K | 55.00K |
| Change in Accounts Payable | 506.00K | 1.39M | -19.00K | 551.00K | 342.00K | 227.00K |
| Change in Other Net Operating Assets | -1.05M | 324.00K | -271.00K | -1.50M | -355.00K | -345.00K |
| Operating Cash Flow | -21.53M | -18.20M | -17.95M | -17.09M | -8.80M | -6.94M |
| Capital Expenditures | -178.00K | -179.00K | -980.00K | -153.00K | -218.00K | -125.00K |
| Investing Cash Flow | -178.00K | -179.00K | -980.00K | -153.00K | -218.00K | -125.00K |
| Long-Term Debt Issued | 10.00M | 20.00M | 10.00M | 8.00M | 8.00M | |
| Long-Term Debt Repaid | -927.00K | -916.00K | -563.00K | |||
| Net Debt Issued (Repaid) | -879.00K | 9.07M | 19.08M | 9.44M | 8.00M | 8.00M |
| Issuance of Common Stock | 36.92M | 7.10M | 1.75M | 109.00K | ||
| Preferred Dividends Paid | -1.82M | -2.45M | ||||
| Dividends Paid | -1.82M | -2.45M | ||||
| Other Financing Activities | 67.00K | 2.28M | 1.81M | 11.74M | 92.00K | 58.00K |
| Financing Cash Flow | 36.11M | 16.63M | 20.20M | 21.28M | 8.09M | 8.06M |
| Foreign Exchange Rate Adjustments | -3.00K | 3.00K | -5.00K | -3.00K | -7.00K | -10.00K |
| Net Cash Flow | 14.39M | -1.74M | 1.26M | 4.04M | -938.00K | 987.00K |
| Free Cash Flow | -21.71M | -18.38M | -18.93M | -17.24M | -9.02M | -7.06M |
| Free Cash Flow Margin | -10,488.41% | -7,626.56% | -8,412.89% | -5,456.96% | -3,807.17% | -2,277.74% |
| Free Cash Flow Per Share | -3.89 | -7.90 | -10.07 | -14.03 | -8.91 | -6.97 |
| Levered Free Cash Flow | -8.22M | -8.10M | -11.65M | -5.91M | -5.17M | |
| Unlevered Free Cash Flow | -7.93M | -7.10M | -11.14M | -5.91M | -5.17M | |
| Cash Interest Paid | 33.00K | 36.00K | 41.00K | |||
| Change in Working Capital | -597.00K | 1.84M | -638.00K | -983.00K | -160.00K | -82.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 51.33M | 19.03M | 28.95M | 35.40M | ||
| Enterprise Value | 32.47M | 16.42M | 40.14M | 28.55M | ||
| Last Close Price | 6.65 | 6.61 | 14.30 | 18.11 | 100.20 | 97.40 |
| PS Ratio | 247.99 | 78.97 | 128.67 | 112.02 | ||
| PB Ratio | 13.90 | -1.62 | -1.54 | -19.93 | ||
| EV/Sales Ratio | 156.84 | 68.14 | 178.38 | 90.34 | ||
| Debt / Equity Ratio | 0.22 | -0.08 | -1.04 | -0.32 | -0.95 | -0.94 |
| Net Debt / Equity Ratio | -5.11 | 0.24 | -0.75 | 2.06 | -0.95 | -0.90 |
| Net Debt / EBITDA Ratio | 0.82 | 0.13 | -0.74 | 0.20 | -3.98 | -3.29 |
| Net Debt / FCF Ratio | 0.87 | 0.15 | -0.75 | 0.21 | -3.81 | -3.17 |
| Asset Turnover | 0.01 | 0.02 | 0.02 | 0.06 | 0.09 | |
| Inventory Turnover | 0.52 | 0.42 | 0.48 | 0.58 | 0.42 | |
| Quick Ratio | 1.56 | 0.33 | 0.84 | 0.61 | 0.09 | 0.87 |
| Current Ratio | 1.74 | 0.54 | 1.18 | 1.02 | 0.65 | 1.76 |
| Return on Assets (ROA) | -86.53% | -137.34% | -121.51% | -211.96% | -210.09% | |
| Return on Capital Employed (ROCE) | -207.10% | 735.00% | -481.40% | -1,862.00% | -23,529.70% | -554.10% |
| Earnings Yield | -76.59% | -124.83% | -71.83% | -84.53% | ||
| FCF Yield | -42.29% | -96.58% | -65.39% | -48.72% | ||
| Buyback Yield / Dilution | -177.04% | -23.78% | -52.83% | -21.46% | 0.04% |