Envoy Medical, Inc. (COCH) AI Stock Analysis

Founded in 1995 and based in White Bear Lake, Minnesota, Envoy Medical, Inc. develops medical technologies across the spectrum of hearing loss. Formerly known as Envoy Medical Corporation until September 2023, the company provides personal sound amplification devices, traditional hearing aids, and implantable hearing devices. Its portfolio features Esteem, a fully implanted active middle ear implant designed to enhance hearing capabilities, along with auditory osseointegrated implants and Acclaim cochlear implants. The company focuses on offering transformative solutions for patients and providers to address hearing impairment worldwide.

Between FY2021 and FY2025, Envoy Medical's revenue decreased at a 4-year compound annual growth rate of -6.1%, moving from $310,000 to $241,000. While revenue grew 7.1% in FY2025 following a 28.8% decline in FY2024, profitability remains deeply negative. Gross margin stood at -262.7% in FY2025, while operating margin was -9240.7%. Annual net income went from -$8.7M in FY2021 to -$23.8M in FY2025, alongside $12.5M spent on R&D expense. For the trailing twelve months ending June 30, 2026, revenue totaled $207,000, with quarterly revenue falling 34.6% year-over-year.

As of June 30, 2026, Envoy Medical held $19.7M in cash and short-term investments and $810,000 in total debt, yielding net cash of $18.9M. The company reported a current ratio of 1.73 and shareholders' equity of $3.3M. In FY2025, operating cash flow was -$18.2M and free cash flow was -$18.4M. Capital expenditures reached $179,000, share issuance brought in $184,000, and dividends paid totaled $1.8M, while its share count expanded 95.8% over five years.

Envoy Medical carries a market capitalization of $51.6M and an enterprise value of $36.5M. The stock trades at a price-to-sales multiple of 249.1x, significantly above the 4.1x median of its US-listed Healthcare peers. Its price-to-book ratio is 15.0x, and enterprise value-to-revenue stands at 176.2x. Over the past year, the shares fell 21.4%, trailing the 16.8% return of the S&P 500. Over five years, the stock has dropped 93.1%, compared to an 83.0% gain for the benchmark index.

Wall Street analysts hold 3 Strong Buy ratings on Envoy Medical, with no Buy, Hold, Sell, or Strong Sell ratings. The mean price target is $2.17, representing a 224.4% premium over the October 16, 2026 closing price of $0.67. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.29 on revenue of $233,330. The company beat EPS estimates in 2 of the last 4 quarters, and its next earnings date is November 9, 2026.

This page is an AI-written research summary of Envoy Medical, Inc. (COCH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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