Envoy Medical, Inc. (COCHW)
Specializing in auditory health, Envoy Medical, Inc. crafts medical technologies designed to address the full spectrum of hearing impairment. Its comprehensive suite of products features personal sound amplifiers, conventional hearing aids, the Esteem fully implanted active middle ear device, auditory osseointegrated implants, and Acclaim cochlear implants. Established in 1995, this White Bear Lake, Minnesota-based company rebranded from Envoy Medical Corporation to Envoy Medical, Inc. in September 2023.
Sector: Orthopedic, Prosthetic & Surgical Appliances & Supplies
Industry: Medical - Devices
Envoy Medical, Inc.
+1.58%$0.0257
CLOSED · Nov 6Prev close$0.0253+1.58%Close$0.0257
Mkt Cap$199K
Float-
O/S7.74M
VOL59K sh
$ Vol$2K
RVOL3.22×
Inst Own-
SI0.1%
Dilution
Financials Summary
Revenue$241K
Net Income-$23.76M
Total Assets$8.56M
Free Cash Flow-$18.38M
Debt & Equity
Total Debt$919K
Total Equity-$11.77M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in COCHW's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$8.56M
Liabilities$20.32M
Accounts Receivable$34K
Accounts Payable$2.92M
Inventory$1.55M
PP&E (Net)$1.92M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Revenue | $241K | $225K | $316K | $237K | $310K | $0 |
| YoY Growth | 7.1% | -28.8% | 33.3% | -23.5% | - | - |
| Cost of Revenue | $874K | $742K | $789K | $498K | $769K | $0 |
| Gross Profit | -$633K | -$517K | -$473K | -$261K | -$459K | $0 |
| Gross Margin | -262.7% | -229.8% | -149.7% | -110.1% | -148.1% | - |
| Research and Development | $12.49M | $10.18M | $8.96M | $4.97M | $3.94M | $0 |
| Selling, General, and Administrative | $9.15M | $8.56M | $8.93M | $3.47M | $2.47M | $701 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $21.64M | $18.74M | $17.89M | $8.45M | $6.41M | $701 |
| Operating Income (EBIT) | -$22.27M | -$19.26M | -$18.36M | -$8.71M | -$6.87M | -$701 |
| Operating Margin | -9240.7% | -8558.2% | -5809.8% | -3673.4% | -2216.5% | - |
| Interest Expense | $1.59M | $816K | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $38K | $0 |
| Other Income (Expense) | -$1.49M | -$1.54M | -$11.56M | -$7.22M | -$1.8M | $0 |
| Income Before Tax (EBT) | -$23.76M | -$20.8M | -$29.92M | -$15.92M | -$8.68M | -$701 |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$23.76M | -$20.8M | -$29.92M | -$15.92M | -$8.68M | -$701 |
| Net Income Margin | -9857.3% | -9242.2% | -9469.0% | -6718.6% | -2798.4% | - |
| Supplementary Data | ||||||
| EPS | -12.30 | -14.90 | -25.40 | -15.70 | -10.50 | 0.00 |
| Diluted EPS | -12.30 | -14.90 | -25.40 | -15.70 | -10.50 | 0.00 |
| Weighted Average OS | 2.33M | 1.88M | 1.26M | 1.02M | 1.02M | 6.04M |
| EBITDA | -$21.86M | -$19.81M | -$29.79M | -$15.85M | -$8.6M | -$701 |
| EBITDA Margin | -9072.2% | -8802.7% | -9426.9% | -6686.9% | -2775.5% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $3.74M | $5.48M | $4.22M | $183K | $1.12M | $25K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $3.74M | $5.48M | $4.22M | $183K | $1.12M | $25K |
| Accounts Receivable | $34K | $818K | $70K | $41K | $88K | $0 |
| Inventory | $1.55M | $1.71M | $1.4M | $1.29M | $1.06M | $0 |
| Other Current Assets | $960K | $1.38M | $176K | $0 | $0 | $0 |
| Total Current Assets | $6.28M | $9.38M | $7.46M | $1.65M | $2.44M | $25K |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $1.92M | $2.15M | $815K | $908K | $188K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $358K | $0 | $0 | $0 | $0 | $95K |
| Total Long-Term Assets | $2.28M | $2.15M | $815K | $908K | $188K | $95K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $8.56M | $11.54M | $8.27M | $2.56M | $2.62M | $120K |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $2.92M | $1.65M | $1.55M | $1M | $661K | $96K |
| Short-Term Debt | $174K | $0 | $0 | $448K | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $6K | $54K | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $15K | $15K | $0 |
| Other Current Liabilities | $4.69M | $5.74M | $1.76M | $320K | $379K | $0 |
| Total Current Liabilities | $11.56M | $7.54M | $7.29M | $2.52M | $1.38M | $96K |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $745K | $18.72M | $0 | $33.4M | $23.48M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $8.02M | $3.32M | $2.36M | $2.27M | $22.72M | $0 |
| Total Long-Term Liabilities | $8.76M | $22.84M | $2.76M | $36.23M | $46.2M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $20.32M | $30.38M | $10.05M | $38.75M | $47.58M | $96K |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3K | $2K | $2K | $1K | $1.39M | $1K |
| Retained Earnings | -$313.4M | -$284.73M | -$257.26M | -$225.99M | -$210.06M | -$701 |
| Comprehensive Income & Other | -$120K | -$123K | -$118K | -$115K | -$108K | $0 |
| Other Stockholders' Equity | $301.63M | $265.89M | $255.48M | $189.79M | $163.71M | $24K |
| Total Equity | -$11.77M | -$18.84M | -$1.78M | -$36.2M | -$44.96M | $24K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $8.56M | $11.54M | $8.27M | $2.56M | $2.62M | $120K |
| Supplementary Data | ||||||
| Total Debt | $919K | $19.66M | $562K | $34.53M | $23.48M | $0 |
| Net Debt | -$2.82M | $14.18M | -$3.66M | $34.35M | $22.36M | -$25K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Operating Activities | |||||
| Net Income | -$23.76M | -$22.45M | -$29.92M | -$15.92M | -$8.68M |
| Depreciation & Amortization | $302K | $173K | $133K | $75K | $71K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $88K | $0 | $1.57M | $0 | $0 |
| Changes in Working Capital: | |||||
| Accounts Receivable | $765K | -$572K | -$205K | $47K | -$19K |
| Inventory | $126K | -$380K | -$10K | -$194K | $55K |
| Accounts Payable | $1.39M | -$19K | $551K | $342K | $227K |
| Other Working Capital | -$437K | $333K | -$1.32M | -$355K | -$345K |
| Total Working Capital Change | $1.84M | -$638K | -$983K | -$160K | -$82K |
| Other Non-Cash Items | $3.33M | $4.97M | $12.11M | $7.2M | $1.75M |
| Net Cash from Operating | -$18.2M | -$17.95M | -$17.09M | -$8.8M | -$6.94M |
| Investing Activities | |||||
| Capital Expenditures | -$179K | -$980K | -$153K | -$218K | -$125K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$179K | -$980K | -$153K | -$218K | -$125K |
| Financing Activities | |||||
| Debt Repaid | -$9.07M | -$19.08M | -$9.44M | -$8M | -$8M |
| Common Stock Issuance | $9.44M | $3.56M | $109K | $92K | $58K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$62K | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $16.63M | $20.2M | $21.28M | $8.09M | $8.06M |
| Forex Effect | $3K | -$4K | -$3K | $964K | -$10K |
| Net Change in Cash | -$1.74M | $1.26M | $4.04M | $33K | $987K |
| Supplementary Data | |||||
| Operating Cash Flow | -$18.2M | -$17.95M | -$17.09M | -$8.8M | -$6.94M |
| Capital Expenditure | -$179K | -$980K | -$153K | -$218K | -$125K |
| Free Cash Flow | -$18.38M | -$18.93M | -$17.24M | -$9.02M | -$7.06M |
| Cash at Beginning | $5.48M | $4.22M | $183K | $150K | $134K |
| Cash at End | $3.74M | $5.48M | $4.22M | $183K | $1.12M |