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Envoy Medical
(NASDAQ:COCH)
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Rating:42Neutral
Price Target:
$0.63
▼(-16.67% Downside)
Action:Reiterated
Date:10/08/26
The score is primarily held down by very weak financial performance (minimal and declining revenue, negative gross profit, large losses, and heavy cash burn indicating dependence on external capital). Technical indicators also point to a bearish trend with the stock trading below key moving averages, despite some oversold readings. Valuation is constrained by unprofitability (negative P/E) and no dividend support, while a recent litigation dismissal modestly improves the risk backdrop but does not offset the core operating and funding challenges.
Positive Factors
Low current leverage
The latest balance sheet shows relatively low debt compared with equity, which limits interest and refinancing pressure. This provides some financial flexibility while Envoy develops its products, although the benefit is tempered by the company’s continuing losses and prior equity stress.
Negative Factors
Minimal, declining revenue
Very small and declining revenue indicates that commercialization has not yet reached a scale capable of supporting the business. This limits operating leverage, reduces internally generated funding for development, and leaves future performance highly dependent on stronger product adoption.
Read all positive and negative factors
Positive Factors
Negative Factors
Low current leverage
The latest balance sheet shows relatively low debt compared with equity, which limits interest and refinancing pressure. This provides some financial flexibility while Envoy develops its products, although the benefit is tempered by the company’s continuing losses and prior equity stress.
Read all positive factors
Envoy Medical (COCH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.42M
Dividend YieldN/A
Average Volume (3M)57.18K
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue Growth-6.76%
EPS Growth42.70%
CountryUS
Employees43
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.67
Shares Outstanding77,394,590
10 Day Avg. Volume66,139
30 Day Avg. Volume57,177
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)-1.31
Price to Sales (P/S)63.80
P/FCF Ratio-0.84
Enterprise Value/Market Cap1.26
Enterprise Value/Revenue306.91
Enterprise Value/Gross Profit-79.61
Enterprise Value/Ebitda-2.91
Forecast
1Y Price Target
$2.17Price Target Upside188.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.3
Revenue Forecast (FY)$133.33K
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 makes money primarily by commercializing its hearing-health medical devices and related components through sales to healthcare providers and/or distribution partners (e.g., hospitals, clinics, and hearing/ENT centers), depending on t...
Envoy Medical Financial Statement Overview
Summary
Income Statement
6
Very Negative
Balance Sheet
34
Negative
Cash Flow
8
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 207.00K | 241.00K | 225.00K | 316.00K | 237.00K | 310.00K |
| Gross Profit | -798.00K | -633.00K | -517.00K | -473.00K | -261.00K | -459.00K |
| EBITDA | -21.80M | -21.86M | -19.81M | -29.79M | -15.85M | -8.60M |
| Net Income | -23.40M | -23.76M | -20.80M | -29.92M | -15.92M | -8.68M |
Balance Sheet | ||||||
| Total Assets | 23.95M | 8.56M | 11.54M | 8.27M | 2.56M | 2.62M |
| Cash, Cash Equivalents and Short-Term Investments | 19.68M | 3.74M | 5.48M | 4.22M | 183.00K | 1.12M |
| Total Debt | 810.00K | 919.00K | 19.66M | 562.00K | 34.53M | 23.48M |
| Total Liabilities | 20.65M | 20.32M | 30.38M | 10.05M | 38.75M | 47.58M |
| Stockholders Equity | 3.30M | -11.77M | -18.84M | -1.78M | -36.20M | -44.96M |
Cash Flow | ||||||
| Free Cash Flow | -21.71M | -18.38M | -18.93M | -17.24M | -9.02M | -7.06M |
| Operating Cash Flow | -21.53M | -18.20M | -17.95M | -17.09M | -8.80M | -6.94M |
| Investing Cash Flow | -178.00K | -179.00K | -980.00K | -153.00K | -218.00K | -125.00K |
| Financing Cash Flow | 36.11M | 16.63M | 20.20M | 21.28M | 8.09M | 8.06M |
Envoy Medical Technical Analysis
Negative
0.75
Price Trends
0.71
Negative
0.70
Negative
0.69
Negative
Market Momentum
-0.02
Positive
42.97
Neutral
21.79
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 0.75 is above the 20-day moving average (MA) of 0.68, above the 50-day MA of 0.71, and above the 200-day MA of 0.69, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 42.97 is Neutral, neither overbought nor oversold. The STOCH value of 21.79 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $2.07B | 14.77 | 17.62% | ― | 4.35% | 161.83% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $446.22M | -22.18 | -119.68% | ― | 11.59% | 31.90% | |
47 Neutral | $9.79M | -1.20 | -126.45% | ― | -1.67% | 7.34% | |
46 Neutral | $162.30M | -4.63 | -150.56% | ― | 39.59% | 61.06% | |
44 Neutral | $46.15M | -3.94 | -23.45% | ― | -14.27% | -132.84% | |
42 Neutral | $50.42M | -0.98 | 1719.71% | ― | -6.76% | 42.70% |
* Healthcare Sector Average
COCH
Envoy Medical
0.66
-0.26
-28.21%
XTNT
Xtant Medical Holdings
0.32
-0.45
-58.03%
INSP
Inspire Medical Systems
68.86
-9.98
-12.66%
STIM
Neuronetics
1.99
-0.90
-31.14%
NMTC
NeuroOne Medical Technologies
1.10
-4.34
-79.79%
NPCE
NeuroPace
12.68
1.86
17.19%
Envoy Medical Corporate Events
Business Operations and StrategyLegal Proceedings
Envoy Medical Resolves SPAC Litigation, Strengthening Legal Position
Positive
Oct 7, 2026
On October 6, 2026, Envoy Medical, Inc. reached a Dismissal Agreement with Atlas Merchant Capital SPAC Fund I LP that resolves litigation in the Delaware Court of Chancery over Atlas’ claim it was prevented from redeeming its Class A shares ...
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.