C
Envoy Medical, Inc.
COCHCIK 0001840877NasdaqEmerging GrowthOrthopedic, Prosthetic & Surgical Appliances & SuppliesFY ends Dec 31
Period
FY 2025
Revenue
$241.0K
Net Income
$-23.76M
Total Assets
$8.56M
Equity
$-12.16M
Shares Out
76.88M
Op. Cash Flow
$-18.20M
Business
Envoy Medical develops fully implanted active hearing devices for patients with hearing loss. The company's lead product, the investigational Acclaim CI, is a fully implanted cochlear implant with piezoelectric sensor, processor, and power source all implanted. Envoy also markets the Esteem FI-AMEI, an FDA-approved fully implanted active middle ear implant. The company is pursuing FDA approval for Acclaim CI and plans U.S. commercialization through selected surgical sites.
Summary from 10-K filed 2026-03-23
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net revenues | 241,000 | 225,000 | 316,000 | 237,000 | — | |
| Cost of goods sold | 874,000 | 742,000 | 789,000 | 498,000 | — | |
| Research and development | 12 | 10 | 9 | 5 | — | |
| Sales and marketing | 1 | 2 | 2 | 885,000 | — | |
| General and administrative | 8 | 7 | 7 | — | — | |
| Total costs and operating expenses | 23 | 19 | 19 | 9 | — | |
| Operating loss | −22 | −19 | −18 | −9 | −5 | |
| Change in fair value of forward purchase agreement put option liability | — | 103,000 | −69,000 | — | — | |
| Change in fair value of forward purchase agreement warrant liability | 534,000 | 411,000 | 842,000 | 20 | 5 | |
| Change in fair value of forward purchase agreement warrant liability due to extension | −24,000 | −881,000 | — | — | — | |
| Loss on offering and change in fair value of private warrant liability | −494,000 | — | — | — | — | |
| Change in fair value of publicly traded warrant liability | 111,000 | −330,000 | 942,000 | — | — | |
| Interest expense, related party | −2 | −816,000 | — | — | — | |
| Other expense, net | −23,000 | −26,000 | 54,000 | −127,000 | — | |
| Total other income (expense), net | −1 | −2 | −12 | −7 | — | |
| Net loss | −24 | −21 | −30 | −16 | −251,633 | |
| Induced conversion of Series A Preferred Stock into Class A Common Stock | — | −1 | — | — | — | |
| Deemed dividend on waiver of restriction on Class A Common Stock | — | −495,000 | — | — | — | |
| Cumulative preferred dividends | −5 | −6 | −1 | — | — | |
| Net loss attributable to common stockholders, basic | −29 | −28 | −31 | −16 | — | |
| Net loss attributable to common stockholders, diluted | −29 | −28 | −31 | −16 | — | |
| Net loss per share attributable to common stockholders, basic (in Dollars per share) | −1.23 | −1.49 | −2.54 | −1.57 | — | |
| Net loss per share attributable to common stockholders, diluted (in Dollars per share) | −1.23 | −1.49 | −2.54 | −1.57 | — | |
| Weighted-average Class A Common Stock outstanding, basic (in Shares) | 23 | 19 | 12 | 10 | — | |
| Weighted-average Class A Common Stock outstanding, diluted (in Shares) | 23 | 19 | 12 | 10 | — | |
| Foreign currency translation adjustment | 3,000 | −5,000 | −3,000 | — | — | |
| Other comprehensive income (loss) | 3,000 | −5,000 | −3,000 | — | — | |
| Comprehensive loss | −24 | −21 | −30 | −16 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 4 | 5 | 4 | — | — | |
| Accounts receivable, net | 34,000 | 38,000 | 70,000 | 41,000 | — | |
| Other receivable | 19,000 | 780,000 | 176,000 | — | — | |
| Inventories | 2 | 2 | 1 | 1 | — | |
| Prepaid expenses and other current assets | 941,000 | 887,000 | 2 | 129,000 | — | |
| Total current assets | 6 | 9 | 7 | 2 | 863,167 | |
| Property and equipment, net | 1 | 1 | 351,000 | 331,000 | — | |
| Prepaid expenses and other assets | 358,000 | 488,000 | — | — | — | |
| Total assets | 9 | 12 | 8 | 3 | 427 | |
| Accounts payable | 3 | 2 | 2 | 1 | 618,742 | |
| Accrued expenses | 8 | 4 | 5 | 608,000 | 2 | |
| Other current liabilities | 518,000 | 573,000 | 645,000 | — | — | |
| Forward purchase agreement warrant liability | 24,000 | 472,000 | 4,000 | — | — | |
| Product warranty liability, current portion | 287,000 | 282,000 | 311,000 | — | — | |
| Total current liabilities | 12 | 8 | 7 | 3 | 3 | |
| Product warranty liability, net of current portion | 2 | 2 | 2 | — | — | |
| Private warrant liability | 6 | — | — | — | — | |
| Publicly traded warrant liability | 551,000 | 662,000 | 332,000 | — | — | |
| Other liability | 27,000 | 891,000 | — | — | — | |
| Total liabilities | 20 | 30 | 10 | 39 | 39 | |
| Commitments and contingencies (see Note 16) | — | — | — | — | — | |
| Warrants issued to placement agent (see Note 10) | 391,000 | — | — | 430 | 425 | |
| Series A Preferred Stock, $0.0001 par value; 100,000,000 shares authorized and 10,000,000 shares designated as of December 31, 2025 and December 31, 2024; 4,126,667 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | — | — | — | — | — | |
| Class A Common Stock, $0.0001 par value; 400,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 28,934,960 shares issued and outstanding as of December 31, 2025 and 21,326,609 shares issued and outstanding as of December 31, 2024 | 3,000 | 2,000 | — | — | — | |
| Additional paid-in capital | 301 | 266 | 256 | 190 | — | |
| Accumulated deficit | −313 | −285 | −257 | −226 | −37 | |
| Accumulated other comprehensive loss | −120,000 | −123,000 | −118,000 | −115,000 | — | |
| Total stockholders deficit | −12 | −19 | −2 | −36 | −45 | |
| Total liabilities, mezzanine equity, and stockholders deficit | 9 | 12 | 8 | 3 | 427 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 302,000 | 173,000 | 100,000 | 75,000 | — | |
| Interest expense and amortization of debt discount on Term Loans (related party) | 2 | 816,000 | — | — | — | |
| Stock-based compensation for services | 88,000 | — | — | — | — | |
| Amortization of prepaid insurance | 964,000 | 1 | 602,000 | — | — | |
| Stock-based compensation | 657,000 | 562,000 | 2 | — | — | |
| Change in fair value of private warrant liability | 494,000 | — | — | — | — | |
| Net change in operating lease right-of-use assets and liability (related party) | 206,000 | 113,000 | 113,000 | 119,000 | — | |
| Change in inventory reserve | 36,000 | 76,000 | −99,000 | −41,000 | — | |
| Accounts receivable, net | 4,000 | 32,000 | −29,000 | 47,000 | — | |
| Other receivable | 761,000 | −604,000 | — | — | — | |
| Inventories | 126,000 | −380,000 | −10,000 | −194,000 | — | |
| Prepaid expenses and other current assets | −8,000 | 9,000 | −853,000 | 38,000 | — | |
| Accounts payable | 1 | −19,000 | 551,000 | 342,000 | 618,040 | |
| Operating lease liability (related party) | −239,000 | −145,000 | −128,000 | — | — | |
| Accrued expenses | 839,000 | −241,000 | −94,000 | 133,000 | 2 | |
| Product warranty liability | −161,000 | −181,000 | −244,000 | — | — | |
| Other liability | −868,000 | 891,000 | — | — | — | |
| Net cash used in operating activities | −18 | −18 | −17 | −9 | −3 | |
| Purchases of property and equipment | −179,000 | −980,000 | −153,000 | −218,000 | — | |
| Net cash used in investing activities | −179,000 | −980,000 | −153,000 | −218,000 | −425 | |
| Payments on insurance financing loans | −827,000 | −916,000 | −563,000 | — | — | |
| Proceeds from the issuance of Term Loans (related party) | 10 | 20 | — | 2 | — | |
| Dividends paid to stockholders of Series A Preferred Stock | −2 | −2 | — | — | — | |
| Payment made for extinguishment of Term Loans (related party) | −100,000 | — | — | — | — | |
| Proceeds from the issuance of Class A Common Stock from ATM offering | 414,000 | — | 109,000 | — | — | |
| Proceeds from issuance of Class A Common Stock under employee stock purchase plan | 184,000 | 63,000 | — | — | — | |
| Proceeds from exercise of forward purchase agreement warrants | 3 | 2 | — | — | — | |
| Proceeds from the issuance of Class A Common Stock and Investor Warrants from registered direct offering | 7 | — | — | 92,000 | 13 | |
| Offering costs from the issuance of Class A Common Stock and Investor Warrants from registered direct offering | −768,000 | — | — | — | — | |
| Deferred offering costs | −62,000 | — | — | — | −9 | |
| Proceeds from the issuance of Class A Common Stock associated with forward purchase agreement, net of transaction costs | — | 2 | — | — | — | |
| Net cash provided by financing activities | 17 | 20 | 21 | 8 | 428 | |
| Effect of exchange rate changes on cash | 3,000 | −5,000 | −3,000 | −7,000 | — | |
| Net (decrease) increase in cash | −2 | 1 | 4 | −938,000 | 124,845 | |
| Cash paid for interest | 36,000 | 41,000 | 26,000 | — | — | |
| Accrued and unpaid dividends on Series A Preferred Stock | 3 | 3 | — | — | — | |
| Financing of prepaid insurance | 772,000 | 843,000 | 1 | — | — | |
| Issuance of Term Loan Warrants (related party) | 2 | 1 | — | — | — | |
| Accrued interest capitalized into term loans payable (related party) | 800,000 | — | — | — | — | |
| Modification of forward purchase agreement warrant | 62,000 | 94,000 | — | — | — | |
| Lease liabilities arising from obtaining right-of-use assets | 121,000 | 528,000 | — | — | — | |
| Extinguishment of excess warrant liability upon exercise of forward purchase agreement warrant | — | 96,000 | — | — | — | |
| Waiver of accrued dividends associated with Sponsor Support Agreement | — | 4 | — | — | — | |
| Induced conversion of Series A Preferred Stock to Class A Common Stock | — | 1 | 27 | — | — | |
| Property and equipment purchased on account | — | 117,000 | — | — | — | |
| Modification of Term Loan Warrants (related party) | 1 | — | — | — | — | |
| Deemed capital contribution associated with the extinguishment of Term Loans (related party) | 28 | — | — | — | — | |
| Issuance of Placement Agent Warrants | 391,000 | — | — | — | — |
Filings
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Frequently asked questions
What is Envoy Medical, Inc.'s CIK number?
Envoy Medical, Inc.'s SEC CIK number is 0001840877 (1840877). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Envoy Medical, Inc.'s SEC filings?
All of Envoy Medical, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Envoy Medical, Inc. last report earnings?
Envoy Medical, Inc. (COCH) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-054185). This is Envoy Medical, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Envoy Medical, Inc.'s most recent earnings 8-K?
Envoy Medical, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001213900-26-054185. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Envoy Medical, Inc.'s latest earnings 8-K →
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