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Envoy Medical
(NASDAQ:COCH)
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Rating:43Neutral
Price Target:
$0.65
▼(-1.82% Downside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by weak financial performance: minimal and declining revenue, negative gross profit, very large losses, and substantial cash burn that likely requires external capital. Technicals are mildly weak with the stock below major moving averages and slightly negative momentum. Valuation is constrained by a negative P/E and no dividend support, while corporate events are mixed—ATM termination is a positive, but Nasdaq compliance risk and expanded equity authorization temper confidence.
Positive Factors
Low reported leverage
The latest balance sheet shows limited reported debt relative to equity, reducing immediate interest and refinancing pressure. This provides some financial flexibility while Envoy advances development, although historical equity volatility limits confidence.
Negative Factors
Minimal and declining revenue
Very low, declining revenue shows that commercialization has not yet reached meaningful scale. Negative gross profit indicates current sales do not cover direct costs, limiting operating leverage and making sustained profitability dependent on successful adoption.
Read all positive and negative factors
Positive Factors
Negative Factors
Low reported leverage
The latest balance sheet shows limited reported debt relative to equity, reducing immediate interest and refinancing pressure. This provides some financial flexibility while Envoy advances development, although historical equity volatility limits confidence.
Read all positive factors
Envoy Medical (COCH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$57.04M
Dividend YieldN/A
Average Volume (3M)394.38K
Price to Earnings (P/E)―
Beta (1Y)0.21
Revenue Growth-6.76%
EPS Growth42.70%
CountryUS
Employees43
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.67
Shares Outstanding77,194,595
10 Day Avg. Volume193,663
30 Day Avg. Volume394,378
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$2.25Price Target Upside240.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.29
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 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 | -21.88M | -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
Positive
0.66
Price Trends
0.70
Positive
0.69
Positive
0.70
Positive
Market Momentum
0.02
Negative
54.39
Neutral
52.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COCH, the sentiment is Positive. The current price of 0.66 is below the 20-day moving average (MA) of 0.70, below the 50-day MA of 0.70, and below the 200-day MA of 0.70, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 54.39 is Neutral, neither overbought nor oversold. The STOCH value of 52.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $1.66B | 13.24 | 17.62% | ― | 4.35% | 161.83% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $240.02M | -7.30 | -150.56% | ― | 39.59% | 61.06% | |
50 Neutral | $496.67M | -25.61 | -119.68% | ― | 11.59% | 31.90% | |
43 Neutral | $57.04M | -1.10 | 1719.71% | ― | -6.76% | 42.70% | |
42 Neutral | $46.51M | -4.01 | -23.45% | ― | -14.27% | -132.84% | |
39 Underperform | $17.12M | -2.39 | -98.33% | ― | -1.67% | 7.34% |
* Healthcare Sector Average
COCH
Envoy Medical
0.74
-0.53
-41.73%
XTNT
Xtant Medical Holdings
0.33
-0.28
-46.08%
INSP
Inspire Medical Systems
61.69
-31.36
-33.70%
STIM
Neuronetics
3.14
-0.19
-5.71%
NMTC
NeuroOne Medical Technologies
2.18
-2.33
-51.63%
NPCE
NeuroPace
14.64
5.98
69.05%
Envoy Medical Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Envoy Medical Ends ATM Equity Program Amid Capital Confidence
Positive
Jun 30, 2026
Envoy Medical, Inc., a Nasdaq-listed hearing health company, develops fully implanted devices such as the Esteem active middle ear implant and the investigational Acclaim cochlear implant for adults with moderate to profound sensorineural hearing ...
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...
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.