Envoy Medical, Inc.

COCH Healthcare Medical Devices

Envoy Medical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $241,000.00, up 7.11% from fiscal 2024.

Revenue
+57.1%
EPS
−42.9%
Free cash flow
−22.4%

Quarter to September 2026, against a year earlier

7.15 0.05 +0.70%
Market cap
$55.0M
P/E
0.0×
Fwd P/E
−2.3×
Dividend yield
—
F-score
3/9
Altman Z
−60.12
Beneish M
n/a
Dividend safety
n/a

Insider Decisions last twelve months

Bought, $m 8.17
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 6 — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 55.50%

Capital & Financial Ratios $m

Size
Market Cap 54.95
Revenue ttm 0.23
Net income ttm (20.85)
Free cash flow ttm (21.71)
Net debt Q (14.57)
Valuation
P/E 0.00
Forward P/E (2.31) (negative: loss-making)
Price / sales 319.77 (above 10: high)
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.00 (below 1: weak)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (12.12)
Growth
Revenue growth Q +57.14% (above 0%: growing)
Operating income growth Q +3.00% (above 0%: growing)
EPS, this year +76.67% (at or above 15%: strong)
EPS, next year A +18.12% (at or above 15%: strong)
Revenue, next year A −3.20% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +42.24% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 90.26%
10-year low 10-year high
EV/Sales against its own 10 years 91.33%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4 5 4 15
Receivables 0 1 0 0
Inventory 1 2 2 2
Other — — — —
7 9 6 —
2023 2024 2025 Q'26
Payables 2 2 3 2
ST’ Debt — — — —
Other 1 1 1 —
7 8 12 14

Compound Annual Growth %

10y 5y 3y
Sales — — 0.56%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

EPS $

Mar Jun Sep Dec Year
’26 (0.08) (0.07) (0.50) — —
’25 (0.29) (0.32) (0.35) (0.26) (1.23)
’24 (0.41) (0.27) (0.39) (0.45) (1.49)
’23 (13.09) (13.09) 0.13 0.45 (24.34)
’22 11.73 2.91 (1.32) (29.04) (15.73)
’21 (1.40) 0.35 5.24 (4.43) (0.24)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 0 0 0 — —
’25 0 0 0 0 0
’24 0 0 0 0 0
’23 0 0 0 0 0
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (5) — — —
’25 (4) (4) (4) (6) (18)
’24 (6) (5) (3) (5) (18)
’23 (3) (4) 1 (11) (17)
’22 (1) 0 (5) (2) (9)
’21 (1) 0 (1) (1) (3)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (5) — — —
’25 (4) (4) (4) (6) (18)
’24 (6) (5) (4) (5) (19)
’23 (3) (4) 1 (11) (17)
’22 (1) 0 (5) (2) (9)
’21 (1) 0 (1) (1) (3)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — — — — 0 0 0 0 0 +0.6% 0 0 9 +231.1%
Gross margin, % — — — — — — (110.13) (149.68) (229.78) (262.66) (352.81) (152.5) pt
EBT — — — — 0 0 (16) (30) (21) (24) (21) n/m
EBT margin, % — — — — 0.00 0.00 (6,718.57) (9,468.99) (9,242.22) (9,857.26) (9,026.41) (9,857.3) pt
Net income — 0 — — 0 0 (16) (30) (21) (24) (21) n/m
Per share, $
Per share, $ Revenue — — — — 0.00 0.00 0.23 0.26 0.12 0.10 0.00 n/m
Earnings — — — — — (0.24) (15.73) (24.34) (1.49) (1.23) (0.91) +50.8%
Cash flow — — — — 0.00 (3.06) (8.70) (13.90) (9.55) (7.82) (2.07) n/m
Capex — — — — 0.00 0.00 (0.22) (0.12) (0.52) (0.08) (0.02) n/m
Free cash flow — — — — 0.00 (3.06) (8.91) (14.03) (10.07) (7.90) (2.09) n/m
Book value — — — — 0.00 (34.67) (35.76) (1.44) (10.03) (5.23) 0.00 n/m
Shares, m — — — — 60 1 1 1 2 2 5 (47.9%)
Valuation, ×
Valuation, × P/E — — — — — — 0.00 0.00 0.00 0.00 0.00 0.0
P/S — — — — — — 0.00 73.54 119.42 63.80 319.77 64.2
P/B — — — — — — 0.00 0.00 0.00 0.00 0.00 0.0
EV/Sales — — — — — — 0.00 174.39 190.19 175.34 389.26 135.0
EV/FCF — — — — — — (15.46) (3.20) (2.26) (2.30) (4.14) (5.8)
Cash, $m
Cash, $m Operating cash flow — — — — 0 (3) (9) (17) (18) (18) (22) n/m
Capex — — — — 0 — 0 0 (1) 0 0 n/m
Free cash flow — — — — 0 (3) (9) (17) (19) (18) (22) n/m
Balance, $m
Balance, $m Working capital — — — — 0 (2) (1) 0 1 (5) (14) +137.0%
Net debt — — — — 0 0 33 (4) 13 (4) (15) +172.2%
Shareholders’ equity — — — — 0 (37) (36) (2) (19) (12) (2) n/m
Returns, %
Returns, % ROA — — — — (1.17) (0.12) (7.42) (577.65) (282.43) (285.25) (189.84) (284.1) pt
ROIC — — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE — — — — 0.00 1.37 43.68 164.71 271.35 184.92 564.62 +184.9 pt
People
People Employees — — — — — 3 2 34 42 47 — +99.0%
Revenue/emp, $m — — — — — 0.00 0.12 0.01 0.01 0.01 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Envoy Medical, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ECOR electroCore, Inc. $79.3M — (loss-making) — (loss-making) +11.52% (above 0%: growing) n/m −69.10% (below 0%: shrinking) 88.47% (16.06%) Compare
LNSR LENSAR, Inc. $67.6M 3.9× 6.9× +18.37% (above 0%: growing) n/m +96.81% (above 0%: growing) 59.27% 12.94% Compare
COCH Envoy Medical, Inc. $55.0M — (loss-making) — (loss-making) +57.14% (above 0%: growing) n/m −22.44% (below 0%: shrinking) (269.70%) (8,389.39%)
SRTS Sensus Healthcare, Inc. $48.1M — (loss-making) — (loss-making) −68.69% (below 0%: shrinking) n/m −201.65% (below 0%: shrinking) 33.58% (138.86%) Compare
MYO Myomo, Inc. $47.1M — (loss-making) — (loss-making) +21.26% (above 0%: growing) n/m +80.02% (above 0%: growing) 72.13% (19.26%) Compare
MDAI Spectral AI, Inc. $44.4M — (loss-making) — (loss-making) −30.42% (below 0%: shrinking) n/m −21.86% (below 0%: shrinking) 31.58% (122.70%) Compare
XTNT Xtant Medical Holdings, Inc. $42.1M — (loss-making) — (loss-making) −34.96% (below 0%: shrinking) n/m −881.96% (below 0%: shrinking) 57.88% (39.81%) Compare
CVRX CVRx, Inc. $39.2M — (loss-making) — (loss-making) −5.84% (below 0%: shrinking) n/m −9.91% (below 0%: shrinking) 86.74% (94.31%) Compare
SNWV Sanuwave Health Inc. $19.4M 1.3× — (loss-making) −3.13% (below 0%: shrinking) n/m +86.75% (above 0%: growing) 76.23% (2.88%) Compare
Median of peers $45.8M — — −4.48% — −15.88% 65.70% (29.53%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 31 August 2026

Ownership

Directors and executive officers, together 7.20%
Glen A. Taylor 56.80%
Nantahala Capital Partners Limited Partnership 9.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Envoy Medical, Inc. (COCH) Latest News

22 Oct

Impact 3 · · TMX Newsfile

23 Mar

Impact 4 · · TMX Newsfile

24 Feb

stockrow.com/COCH · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com