Envoy Medical Inc (COCHW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the COCHW SEC filings page.
Envoy Medical Inc (COCHW) reported $241K in revenue for fiscal year 2025, up 7.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development spending funded externally while minimal revenue leaves operating costs far ahead of commercial scale.
By FY2025, revenue was only$241K against R&D investment of$12.5M . Operating cash outflow stayed near$18M across FY2024 and FY2025, indicating a cost base being funded ahead of meaningful commercial scale rather than adjusted to current sales.
FY2025 operating cash flow of
Liabilities of
Financial Health Signals
Envoy Medical Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Envoy Medical Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Envoy Medical Inc reported a net loss of $23.8M while operations used $18.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Envoy Medical Inc reported an operating loss of $22.3M against $1.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Envoy Medical Inc generated $51K in revenue in Q2 2026. This represents a decrease of 34.6% from the same quarter a year earlier. Against the prior quarter it is up 30.8%.
Envoy Medical Inc's EBITDA was -$5.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.2% from the same quarter a year earlier. Against the prior quarter it is up 6.6%.
Envoy Medical Inc reported -$6.0M in net income in Q2 2026. This represents a decrease of 5.1% from the same quarter a year earlier. Against the prior quarter it is down 37.5%.
Cash & Balance Sheet
Envoy Medical Inc held $19.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Envoy Medical Inc's ROE was -181.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 138.3 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Envoy Medical Inc invested $3.1M in research and development in Q2 2026. This represents an increase of 26.0% from the same quarter a year earlier. Against the prior quarter it is down 14.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
COCHW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-K | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-K | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $51K-34.6% | $39K-15.2% | $75K+78.6% | $42K-25.0% | $78K+14.7% | $46K-22.0% | $42K-55.8% | $56K-30.0% |
| Cost of Revenue | $278K+18.8% | $313K+38.5% | $211K+34.4% | $203K+8.6% | $234K-4.5% | $226K+47.7% | $157K-40.3% | $187K-1.1% |
| Gross Profit | -$227K-45.5% | -$274K-52.2% | -$136K-18.3% | -$161K-22.9% | -$156K+11.9% | -$180K-91.5% | -$115K+31.5% | -$131K-20.2% |
| R&D Expenses | $3.1M+26.0% | $3.6M+32.5% | $4.6M+84.3% | $2.7M-2.1% | $2.5M-4.1% | $2.7M+16.4% | $2.5M-18.3% | $2.8M+49.0% |
| SG&A Expenses | $2.0M-1.9% | $1.9M+3.2% | $1.6M+10.8% | $2.4M+44.5% | $2.1M+30.3% | $1.8M-13.5% | $1.4M-45.1% | $1.7M+18.5% |
| Operating Income | -$5.6M-9.8% | -$6.0M-16.7% | -$6.4M-40.4% | -$5.7M-14.8% | -$5.1M-4.5% | -$5.1M-4.6% | -$4.5M+32.4% | -$5.0M-46.9% |
| EBITDA | -$5.5M-10.2% | -$5.9M-16.6% | -$6.3M-40.1% | -$5.6M-14.4% | -$5.0M-3.6% | -$5.0M-4.0% | -$4.5M+32.6% | -$4.9M-46.7% |
| Interest Expense | N/A | N/A | $0-100.0% | $471K+78.4% | $624K+372.7% | $495K+395.0% | $320K | $264K |
| Net Income | -$6.0M-5.1% | -$4.4M+12.9% | -$6.6M-42.6% | -$6.5M-8.8% | -$5.7M-44.2% | -$5.0M+20.3% | -$4.6M+5.7% | -$6.0M-481.3% |
| EPS (Basic) | -$0.07+78.1% | -$0.08+72.4% | -$0.26+35.0% | -$0.35+10.3% | -$0.32-10.3% | -$0.29+29.3% | -$0.40-600.0% | -$0.39-400.0% |
| EPS (Diluted) | -$0.07 | -$0.08 | -$0.26 | -$0.35+10.3% | -$0.32-10.3% | -$0.29+29.3% | -$0.40-600.0% | -$0.39-400.0% |
| Diluted Shares (Avg) | 104M | 69M | N/A | 22M+17.4% | 21M+15.0% | 21M+14.7% | N/A | 19M+66.0% |
Not reported in any period shown, so not listed: Income Tax.
COCHW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-K | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-K | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $23.9M+141.9% | $29.8M+187.2% | $8.6M-25.8% | $8.2M-12.9% | $9.9M+46.9% | $10.4M+22.5% | $11.5M+39.5% | $9.4M-55.7% |
| Current Assets | $21.9M+191.7% | $27.7M+233.0% | $6.3M-29.4% | $5.8M-19.3% | $7.5M+50.4% | $8.3M+7.5% | $8.9M+19.3% | $7.1M-64.9% |
| Cash & Equivalents | $19.7M+272.2% | $25.3M+375.4% | $3.7M-31.8% | $3.6M-19.6% | $5.3M+202.8% | $5.3M+7.4% | $5.5M+30.0% | $4.4M-40.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.6M-0.5% | $1.5M-10.1% | $1.5M-9.5% | $1.6M-0.1% | $1.6M+0.3% | $1.7M+13.9% | $1.7M+21.7% | $1.6M+17.5% |
| Accounts Receivable | $49K+14.0% | $31K-26.2% | $34K-10.5% | $35K-82.2% | $43K-75.3% | $42K-77.8% | $38K-45.7% | $197K+80.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $20.3M-49.1% | $19.3M-44.3% | $20.3M-33.1% | $15.7M-43.7% | $39.8M+107.9% | $34.6M+117.8% | $30.4M+202.4% | $27.9M+70.0% |
| Current Liabilities | $12.6M+57.9% | $12.2M+60.8% | $11.6M+53.4% | $9.0M-0.9% | $8.0M-0.7% | $7.6M+8.6% | $7.5M+3.5% | $9.1M-28.5% |
| Non-Current Liabilities | $7.6M-76.0% | $7.1M-73.9% | $8.8M-61.6% | $6.7M-64.3% | $31.8M+187.0% | $27.0M+203.6% | $22.8M+727.0% | $18.9M+404.2% |
| Total Equity | $3.3M+111.1% | $10.2M+141.9% | -$12.2M+35.5% | -$7.7M+58.7% | -$29.9M-140.8% | -$24.2M-226.2% | -$18.8M-960.9% | -$18.5M-487.4% |
| Retained Earnings | -$326.4M-9.6% | -$319.1M-9.7% | -$313.4M-10.1% | -$305.7M-10.1% | -$297.9M-10.3% | -$291.0M-9.8% | -$284.7M-10.7% | -$277.5M-10.6% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
COCHW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-K | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-K | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.5M-22.3% | -$6.1M-62.7% | -$5.7M-11.7% | -$4.3M-65.1% | -$4.5M+4.0% | -$3.7M+33.4% | -$5.1M+54.3% | -$2.6M-338.7% |
| Depreciation & Amortization | $74K-12.9% | $73K+19.7% | $80K+66.7% | $76K+55.1% | $85K+102.4% | $61K+79.4% | $48K0.0% | $49K+69.0% |
| Stock-Based Compensation | N/A | $239K+49.4% | N/A | N/A | N/A | $160K+30.1% | N/A | N/A |
| Capital Expenditures | N/A | N/A | $172K-67.8% | $0-100.0% | $1K-99.6% | $6K-94.5% | -$534K+2442.9% | $1.2M+1766.1% |
| Free Cash Flow | N/A | N/A | -$5.9M-4.1% | -$4.3M-14.6% | -$4.5M+8.8% | -$3.7M+34.5% | -$5.6M+49.6% | -$3.8M-464.5% |
| Investing Cash Flow | N/A | N/A | -$172K-132.2% | $0+100.0% | -$1K+99.9% | -$6K+94.5% | $534K+2642.9% | -$615K-891.9% |
| Financing Cash Flow | -$109K-102.5% | $27.6M+675.9% | $6.0M+7.5% | $2.6M-56.0% | $4.4M+98.3% | $3.6M-44.7% | $5.6M+486.3% | $5.9M-62.4% |
| Dividends Paid | N/A | $3.7M+207.7% | -$1K-100.2% | $0 | $607K | $1.2M | $614K | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
COCHW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-K | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-K | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -445.1% | -702.6% | -181.3% | -383.3% | -200.0% | -391.3% | -273.8% | -233.9% |
| Operating Margin | -10919.6% | -15279.5% | -8513.3% | -13590.5% | -6500.0% | -11102.2% | -10828.6% | -8878.6% |
| Net Margin | -11729.4% | -11156.4% | -8781.3% | -15433.3% | -7294.9% | -10865.2% | -10995.2% | -10642.9% |
| Return on Equity | -181.1% | -42.8% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -25.0%+32.5pp | -14.6%+33.5pp | -77.0%-36.9pp | -79.2%-15.8pp | -57.5%+1.1pp | -48.1%+25.8pp | -40.0%+19.2pp | -63.4%-70.8pp |
| Current Ratio | 1.73+0.8x | 2.27+1.2x | 0.54-0.6x | 0.64-0.1x | 0.94+0.3x | 1.090.0x | 1.18+0.2x | 0.79-0.8x |
| Debt-to-Equity | 6.13 | 1.90 | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.000.0x | 0.000.0x | 0.010.0x |
| FCF Margin | N/A | N/A | -7809.3% | -10311.9% | -5719.2% | -8110.9% | -13392.9% | -6750.0% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$12.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.54), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Envoy Medical Inc Ranks
Frequently Asked Questions
What is Envoy Medical Inc's annual revenue?
Envoy Medical Inc (COCHW) reported $241K in total revenue for fiscal year 2025. This represents a 7.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Envoy Medical Inc's revenue growing?
Envoy Medical Inc (COCHW) revenue grew by 7.1% year-over-year, from $225K to $241K in fiscal year 2025.
Is Envoy Medical Inc profitable?
No, Envoy Medical Inc (COCHW) reported a net income of -$23.8M in fiscal year 2025.
What is Envoy Medical Inc's EBITDA?
Envoy Medical Inc (COCHW) had EBITDA of -$22.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Envoy Medical Inc's free cash flow?
Envoy Medical Inc (COCHW) recorded an outflow of $18.4M in free cash flow during fiscal year 2025. This represents a 2.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Envoy Medical Inc's operating cash flow?
Envoy Medical Inc (COCHW) recorded an outflow of $18.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Envoy Medical Inc's total assets?
Envoy Medical Inc (COCHW) had $8.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Envoy Medical Inc's capital expenditures?
Envoy Medical Inc (COCHW) invested $179K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Envoy Medical Inc spend on research and development?
Envoy Medical Inc (COCHW) invested $12.5M in research and development during fiscal year 2025.
What is Envoy Medical Inc's current ratio?
Envoy Medical Inc (COCHW) had a current ratio of 0.54 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Envoy Medical Inc's return on assets (ROA)?
Envoy Medical Inc (COCHW) had a return on assets of -277.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Envoy Medical Inc's debt-to-equity ratio negative or not reported?
Envoy Medical Inc (COCHW) has negative shareholder equity of -$12.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Envoy Medical Inc's Piotroski F-Score?
Envoy Medical Inc (COCHW) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Envoy Medical Inc's earnings high quality?
Envoy Medical Inc (COCHW) reported a net loss of $23.8M while operations used $18.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Envoy Medical Inc cover its interest payments?
Envoy Medical Inc (COCHW) reported an operating loss of $22.3M against $1.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.