Envoy Medical (COCH)
NASDAQ:COCH
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Envoy Medical
(NASDAQ:COCH)
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Rating:47Neutral
Price Target:
$0.61
▼(-11.45% Downside)
Action:Reiterated
Date:05/23/26
The score is primarily constrained by weak financial performance—tiny revenue scale, negative gross profit, large recurring losses, and significant cash burn—despite a currently less-levered balance sheet. Technicals are modestly positive in the near term, but not strong enough to outweigh fundamentals, and corporate events include ongoing Nasdaq bid-price compliance risk. Valuation provides limited support given losses and no stated dividend.
Positive Factors
Improved balance sheet leverage
The company shows materially lower leverage and a positive equity base versus prior negative equity, reducing near-term solvency risk. A stronger capital structure improves runway and negotiating power for partnerships or financings, supporting commercialization efforts over the next several months.
Negative Factors
Large and persistent cash burn
Sustained negative operating and free cash flow at roughly -$20M TTM indicates heavy cash consumption to fund development and operations. Persistent burn requires repeated external financing or dilution, constrains R&D and commercialization pacing, and raises execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet leverage
The company shows materially lower leverage and a positive equity base versus prior negative equity, reducing near-term solvency risk. A stronger capital structure improves runway and negotiating power for partnerships or financings, supporting commercialization efforts over the next several months.
Read all positive factors
Envoy Medical (COCH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.58M
Dividend YieldN/A
Average Volume (3M)394.38K
Price to Earnings (P/E)―
Beta (1Y)0.28
Revenue Growth10.38%
EPS Growth20.70%
CountryUS
Employees42
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.02
Shares Outstanding76,881,110
10 Day Avg. Volume193,663
30 Day Avg. Volume394,378
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)-1.10
Price to Sales (P/S)53.77
P/FCF Ratio-0.70
Enterprise Value/Market Cap-0.19
Enterprise Value/Revenue-41.40
Enterprise Value/Gross Profit13.33
Enterprise Value/Ebitda0.45
Forecast
1Y Price Target
$2.50Price Target Upside262.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.95
Revenue Forecast (FY)$200.00K
Envoy Medical Business Overview & Revenue Model
Company Description
Envoy Medical, Inc. is a healthcare company dedicated to developing innovative medical technologies that address the full spectrum of hearing loss. Its diverse product portfolio includes conventional hearing aids, Esteem middle ear implants, bone ...
How the Company Makes Money
Envoy Medical’s business model is centered on developing and commercializing implantable hearing solutions. The primary expected revenue stream is product revenue from sales of its cochlear implant system (including the implant and related compone...
Envoy Medical Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
22
Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 234.00K | 241.00K | 225.00K | 316.00K | 237.00K | 310.00K |
| Gross Profit | -727.00K | -633.00K | -517.00K | -473.00K | -261.00K | -459.00K |
| EBITDA | -21.70M | -21.86M | -19.81M | -29.79M | -15.85M | -8.60M |
| Net Income | -23.11M | -23.76M | -20.80M | -29.92M | -15.92M | -8.68M |
Balance Sheet | ||||||
| Total Assets | 29.82M | 8.56M | 11.54M | 8.27M | 2.56M | 2.62M |
| Cash, Cash Equivalents and Short-Term Investments | 25.25M | 3.74M | 5.48M | 4.22M | 183.00K | 1.12M |
| Total Debt | 889.00K | 919.00K | 19.66M | 562.00K | 34.53M | 23.48M |
| Total Liabilities | 19.27M | 20.32M | 30.38M | 10.05M | 38.75M | 47.58M |
| Stockholders Equity | 10.55M | -11.77M | -18.84M | -1.78M | -36.20M | -44.96M |
Cash Flow | ||||||
| Free Cash Flow | -20.71M | -18.38M | -18.93M | -17.24M | -9.02M | -7.06M |
| Operating Cash Flow | -20.54M | -18.20M | -17.95M | -17.09M | -8.80M | -6.94M |
| Investing Cash Flow | -173.00K | -179.00K | -980.00K | -153.00K | -218.00K | -125.00K |
| Financing Cash Flow | 40.65M | 16.63M | 20.20M | 21.28M | 8.09M | 8.06M |
Envoy Medical Technical Analysis
Negative
0.69
Price Trends
0.68
Negative
0.68
Negative
0.77
Negative
Market Momentum
-0.01
Positive
40.03
Neutral
33.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COCH, the sentiment is Negative. The current price of 0.69 is above the 20-day moving average (MA) of 0.69, above the 50-day MA of 0.68, and below the 200-day MA of 0.77, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 40.03 is Neutral, neither overbought nor oversold. The STOCH value of 33.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COCH.
Envoy Medical Risk Analysis
Envoy Medical disclosed 40 risk factors in its most recent earnings report. Envoy Medical reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Envoy Medical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $50.58M | -1.87 | 239.44% | ― | 10.38% | 20.70% | |
45 Neutral | $27.93M | -4.11 | -98.33% | ― | 10.98% | 41.82% | |
43 Neutral | $8.53M | -0.33 | -335.47% | ― | 33.77% | -20.22% | |
42 Neutral | $17.15M | -0.68 | -312.04% | ― | -100.00% | 100.00% |
* Healthcare Sector Average
COCH
Envoy Medical
0.63
-0.74
-54.23%
MODD
Modular Medical
4.77
-18.33
-79.35%
NMTC
NeuroOne Medical Technologies
3.24
-0.13
-3.89%
VVOS
Vivos Therapeutics
0.57
-1.57
-73.27%
ADGM
Adagio Medical Holdings
0.75
-0.35
-31.65%
Envoy Medical Corporate Events
Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split
Envoy Medical Granted Extension to Regain Nasdaq Compliance
Negative
May 22, 2026
Envoy Medical, Inc. disclosed that on November 19, 2025, it received a Nasdaq staff notice that its Class A common stock had failed to meet the $1.00 minimum bid price requirement for 30 consecutive business days, triggering a 180-day compliance p...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder Meetings
Envoy Medical Shareholders Expand Equity and Governance Plans
Positive
May 18, 2026
At its May 12, 2026 annual meeting, Envoy Medical shareholders approved significant expansions to the company’s 2023 Equity Incentive Plan and Employee Stock Purchase Plan, authorizing an additional 6,000,000 and 1,200,000 Class A common sha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.