Is Envoy Medical going out of business?

ENVOY MEDICAL, INC. (COCH) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

ENVOY MEDICAL, INC. (COCH) scores 10 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 305.44% (YoY)

Five questions, kept separate

Survival - Fragile

10-15 mo of estimated runway from 2026-06-30, based on $19.7M of cash and short-term investments against $18.4M of annual burn. Adjusted shares outstanding increased 305.4% over the comparison year.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Demanding

34.1% burn burden support a demanding pre-commercial Valuation assessment.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• Shares dilution YoY: 305.44% (YoY)
• FCF margin: -7626.56%
• Interest coverage: -3.7x
• Operating leverage: 3518.2%
• Revenue growth YoY: -34.62% (YoY)
• Return on Assets: -99.19%
• Revenue CAGR (3Y): 0.56%
• Cash Burn Deceleration: -45.38% QoQ improvement (Worsening)
• Price / Sales: 223.8x (see Valuation)
• Price / Earnings: Unprofitable (see Valuation)
• Cash Runway (years): 1.07y
• Effective Tax Rate: 0.00% (loss-making)

Read from filings through 2026-08-10.

Price as of 2026-09-07.