COCH on Nasdaq
Envoy Medical, Inc.
Orthopedic company, listed on Nasdaq (COCH). Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerCOCH on Nasdaq1
- IndustryOrthopedic, Prosthetic & Surgical Appliances & Supplies1
- HeadquartersWhite Bear Lake, Minnesota1
- Business address4875 White Bear Parkway, White Bear Lake, Mn 551102
- Filer category, Emerging growth company2
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FI-AMEI and we continue to work towards having the Esteem FI-AMEI properly classified as a Fully Implanted Active Middle Ear Implant.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue7¢$874.0K
- Research and development93¢$12.5M
Out of $241.0K in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net revenues | $241.0K | $225.0K |
| Cost of goods sold | $874.0K | $742.0K |
| Research and development | $12.5M | $10.2M |
| Sales and marketing | $1.2M | $1.7M |
| General and administrative | $7.9M | $6.8M |
| Total costs and operating expenses | $22.5M | $19.5M |
| Operating loss | -$22.3M | -$19.3M |
| Change in fair value of forward purchase agreement put option liability | $103.0K | |
| Change in fair value of forward purchase agreement warrant liability | $534.0K | $411.0K |
| Change in fair value of forward purchase agreement warrant liability due to extension | -$24.0K | -$881.0K |
| Loss on offering and change in fair value of private warrant liability | -$494.0K | |
| Change in fair value of publicly traded warrant liability | $111.0K | -$330.0K |
| Interest expense, related party | -$1.6M | -$816.0K |
| Other expense, net | -$23.0K | -$26.0K |
| Total other income (expense), net | -$1.5M | -$1.5M |
| Net loss | -$23.8M | -$20.8M |
| Induced conversion of Series A Preferred Stock into Class A Common Stock | -$1.2M | |
| Deemed dividend on waiver of restriction on Class A Common Stock | -$495.0K | |
| Cumulative preferred dividends | -$4.9M | -$5.5M |
| Net loss attributable to common stockholders, basic | -$28.7M | -$28.0M |
| Net loss attributable to common stockholders, diluted | -$28.7M | -$28.0M |
| Net loss per share attributable to common stockholders, basic (in Dollars per share) | -$1.23 | -$1.49 |
| Net loss per share attributable to common stockholders, diluted (in Dollars per share) | -$1.23 | -$1.49 |
| Weighted-average Class A Common Stock outstanding, basic (in Shares) | 23.3M shares | 18.8M shares |
| Weighted-average Class A Common Stock outstanding, diluted (in Shares) | 23.3M shares | 18.8M shares |
| Foreign currency translation adjustment | $3.0K | -$5.0K |
| Other comprehensive income (loss) | $3.0K | -$5.0K |
| Comprehensive loss | -$23.8M | -$20.8M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $3.7M | $5.5M | $4.2M |
| Accounts receivable, net | $34.0K | $38.0K | |
| Other receivable | $19.0K | $780.0K | |
| Inventories | $1.5M | $1.7M | |
| Prepaid expenses and other current assets | $941.0K | $887.0K | |
| Total current assets | $6.3M | $8.9M | |
| Property and equipment, net | $1.0M | $1.3M | |
| Prepaid expenses and other assets | $358.0K | $488.0K | |
| Total assets | $8.6M | $11.5M | |
| Accounts payable | $2.9M | $1.7M | |
| Accrued expenses | $7.6M | $3.7M | |
| Other current liabilities | $518.0K | $573.0K | |
| Forward purchase agreement warrant liability | $24.0K | $472.0K | |
| Product warranty liability, current portion | $287.0K | $282.0K | |
| Total current liabilities | $11.6M | $7.5M | |
| Product warranty liability, net of current portion | $1.6M | $1.8M | |
| Private warrant liability | $5.8M | ||
| Publicly traded warrant liability | $551.0K | $662.0K | |
| Other liability | $27.0K | $891.0K | |
| Total liabilities | $20.3M | $30.4M | |
| Warrants issued to placement agent (see Note 10) | $391.0K | ||
| 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 | $3.0K | $2.0K | |
| Additional paid-in capital | $301.4M | $266.0M | |
| Accumulated deficit | -$313.4M | -$284.7M | |
| Accumulated other comprehensive loss | -$120.0K | -$123.0K | |
| Total stockholders deficit | -$12.2M | -$18.8M | -$1.8M |
| Total liabilities, mezzanine equity, and stockholders deficit | $8.6M | $11.5M |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $3.7M | $5.5M | $4.2M |
| Accounts receivable, net | $34.0K | $38.0K | |
| Other receivable | $19.0K | $780.0K | |
| Inventories | $1.5M | $1.7M | |
| Prepaid expenses and other current assets | $941.0K | $887.0K | |
| Total current assets | $6.3M | $8.9M | |
| Property and equipment, net | $1.0M | $1.3M | |
| Prepaid expenses and other assets | $358.0K | $488.0K | |
| Total assets | $8.6M | $11.5M | |
| Accounts payable | $2.9M | $1.7M | |
| Accrued expenses | $7.6M | $3.7M | |
| Other current liabilities | $518.0K | $573.0K | |
| Forward purchase agreement warrant liability | $24.0K | $472.0K | |
| Product warranty liability, current portion | $287.0K | $282.0K | |
| Total current liabilities | $11.6M | $7.5M | |
| Product warranty liability, net of current portion | $1.6M | $1.8M | |
| Private warrant liability | $5.8M | ||
| Publicly traded warrant liability | $551.0K | $662.0K | |
| Other liability | $27.0K | $891.0K | |
| Total liabilities | $20.3M | $30.4M | |
| Warrants issued to placement agent (see Note 10) | $391.0K | ||
| 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 | $3.0K | $2.0K | |
| Additional paid-in capital | $301.4M | $266.0M | |
| Accumulated deficit | -$313.4M | -$284.7M | |
| Accumulated other comprehensive loss | -$120.0K | -$123.0K | |
| Total stockholders deficit | -$12.2M | -$18.8M | -$1.8M |
| Total liabilities, mezzanine equity, and stockholders deficit | $8.6M | $11.5M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$23.8M | -$20.8M |
| Depreciation | $302.0K | $173.0K |
| Interest expense and amortization of debt discount on Term Loans (related party) | $1.6M | $816.0K |
| Stock-based compensation for services | $88.0K | |
| Amortization of prepaid insurance | $964.0K | $1.0M |
| Stock-based compensation | $657.0K | $562.0K |
| Change in fair value of private warrant liability | $494.0K | |
| Change in fair value of publicly traded warrant liability | -$111.0K | $330.0K |
| Change in fair value of forward purchase agreement warrant liability | -$534.0K | -$411.0K |
| Change in fair value of forward purchase agreement put option liability | -$103.0K | |
| Change in fair value of forward purchase agreement warrant liability due to extension | $24.0K | $881.0K |
| Net change in operating lease right-of-use assets and liability (related party) | $206.0K | $113.0K |
| Change in inventory reserve | $36.0K | $76.0K |
| Accounts receivable, net | $4.0K | $32.0K |
| Other receivable | $761.0K | -$604.0K |
| Inventories | $126.0K | -$380.0K |
| Prepaid expenses and other current assets | -$8.0K | $9.0K |
| Accounts payable | $1.4M | -$19.0K |
| Operating lease liability (related party) | -$239.0K | -$145.0K |
| Accrued expenses | $839.0K | -$241.0K |
| Product warranty liability | -$161.0K | -$181.0K |
| Other liability | -$868.0K | $891.0K |
| Net cash used in operating activities | -$18.2M | -$17.9M |
| Purchases of property and equipment | -$179.0K | -$980.0K |
| Net cash used in investing activities | -$179.0K | -$980.0K |
| Payments on insurance financing loans | -$827.0K | -$916.0K |
| Proceeds from the issuance of Term Loans (related party) | $10.0M | $20.0M |
| Dividends paid to stockholders of Series A Preferred Stock | -$1.8M | -$2.4M |
| Payment made for extinguishment of Term Loans (related party) | -$100.0K | |
| Proceeds from the issuance of Class A Common Stock from ATM offering | $414.0K | |
| Proceeds from issuance of Class A Common Stock under employee stock purchase plan | $184.0K | $63.0K |
| Proceeds from exercise of forward purchase agreement warrants | $3.1M | $1.8M |
| Proceeds from the issuance of Class A Common Stock and Investor Warrants from registered direct offering | $6.5M | |
| Offering costs from the issuance of Class A Common Stock and Investor Warrants from registered direct offering | -$768.0K | |
| Deferred offering costs | -$62.0K | |
| Proceeds from the issuance of Class A Common Stock associated with forward purchase agreement, net of transaction costs | $1.7M | |
| Net cash provided by financing activities | $16.6M | $20.2M |
| Effect of exchange rate changes on cash | $3.0K | -$5.0K |
| Net (decrease) increase in cash | -$1.7M | $1.3M |
| Cash paid for interest | $36.0K | $41.0K |
| Accrued and unpaid dividends on Series A Preferred Stock | $3.1M | $3.1M |
| Financing of prepaid insurance | $772.0K | $843.0K |
| Issuance of Term Loan Warrants (related party) | $1.6M | $1.4M |
| Accrued interest capitalized into term loans payable (related party) | $800.0K | |
| Modification of forward purchase agreement warrant | $62.0K | $94.0K |
| Lease liabilities arising from obtaining right-of-use assets | $121.0K | $528.0K |
| Extinguishment of excess warrant liability upon exercise of forward purchase agreement warrant | $96.0K | |
| Waiver of accrued dividends associated with Sponsor Support Agreement | $3.7M | |
| Deemed dividend on waiver of restriction on Class A Common Stock | $495.0K | |
| Induced conversion of Series A Preferred Stock to Class A Common Stock | $1.2M | |
| Property and equipment purchased on account | $117.0K | |
| Modification of Term Loan Warrants (related party) | $1.5M | |
| Deemed capital contribution associated with the extinguishment of Term Loans (related party) | $27.9M | |
| Issuance of Placement Agent Warrants | $391.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Envoy Medical, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2025
- Chief executive officerBrent T. Lucas Sep 29, 2023 to now11
- Chief executive officerWhitney Haring-Smith Mar 1, 2021 to Mar 1, 202112
- Chief financial officerRobert Potashnick Jul 3, 2025 to now13
- Chief financial officerDavid R. Wells Sep 29, 2023 to Oct 17, 202314
- Chief financial officerDaniel J. Hirsch Oct 4, 2022 to Oct 3, 202315
Board members and other officers (17)
- CAO & VP of FinanceRobert Potashnick Aug 26, 2026 to now16
- OfficerWhitney Haring-Smith Oct 4, 2022 to Oct 4, 202217
- GC and Corporate SecretaryPeter Ganz Mar 1, 2021 to Mar 1, 202118
- Board memberChas McKhann Apr 17, 2026 to now19
- Board memberMichael Curtis Crowe Jun 17, 2024 to now20
- Board memberBrent T. Lucas Sep 29, 2023 to now11
- Board memberCharles Brynelsen Sep 29, 2023 to now21
- Board memberGlen A. Taylor Sep 29, 2023 to now22
- Board memberJanis Smith-Gomez Sep 29, 2023 to now23
- Board memberMona Chetan Patel Sep 29, 2023 to now24
- Board memberDaniel J. Hirsch Oct 4, 2022 to Oct 3, 202315
- Board memberDiane L. Dewbrey Oct 4, 2022 to Oct 3, 202325
- Board memberPriya Cherian Huskins Mar 1, 2021 to Oct 3, 202326
- Board memberSusan Kantor Mar 1, 2021 to now27
- Board memberTeresa A. Harris Mar 1, 2021 to Mar 1, 202128
- Board memberWhitney Haring-Smith Mar 1, 2021 to Oct 3, 202312
- Board memberWilliam A. Wulfsohn Mar 1, 2021 to Mar 1, 202129
Former names
- Anzu Special Acquisition Corp IJan 19, 2021 to Sep 29, 20232
Timeline
Filings
304 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 78 major events, 71 insider forms, 18 large holders, 114 other. The latest 20:
- Oct 7, 20268-K CURRENT REPORT EDGAR
- Sep 14, 2026SCHEDULE 13G/A EDGAR
- Sep 2, 2026DEFA14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
- Aug 31, 2026DEF 14A PROXY STATEMENT EDGAR
- Aug 27, 20268-K CURRENT REPORT EDGAR
- Aug 26, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 19, 2026PRE 14A PROXY STATEMENT EDGAR
- Aug 10, 20268-K CURRENT REPORT EDGAR
- Aug 10, 202610-Q QUARTERLY REPORT EDGAR
- Jun 30, 20268-K CURRENT REPORT EDGAR
- Jun 25, 20268-K CURRENT REPORT EDGAR
- Jun 23, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Jun 16, 2026EFFECT EDGAR
- Jun 12, 2026POS AM POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-1 EDGAR
- Jun 12, 2026S-8 REGISTRATION STATEMENT EDGAR
- Jun 4, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- May 22, 20268-K CURRENT REPORT EDGAR
- May 18, 20268-K CURRENT REPORT EDGAR
- May 15, 2026SCHEDULE 13G EDGAR
- May 14, 2026SCHEDULE 13G EDGAR
The 304 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
15 open-market trades by officers, directors and large owners since October 2021: 15 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 12, 2026 | TAYLOR GLEN A10% owner | Buy | 18,750,000 | $0.40 | $7.5M | Form 4 |
| Feb 12, 2026 | Patel Mona ChetanDirector | Buy | 312,500 | $0.40 | $125.0K | Form 4 |
| Feb 12, 2026 | Potashnick RobertCAO & VP of Finance | Buy | 212,500 | $0.40 | $85.0K | Form 4 |
| Feb 12, 2026 | Kantor SusanDirector | Buy | 96,150 | $0.40 | $38.5K | Form 4 |
| Feb 12, 2026 | BRYNELSEN CHARLESDirector | Buy | 1,000,000 | $0.40 | $400.0K | Form 4 |
| Feb 12, 2026 | Lucas Brent T.Chief Executive Officer | Buy | 62,500 | $0.40 | $25.0K | Form 4 |
| Jun 11, 2025 | Patel Mona ChetanDirector | Buy | 2,500 | $1.47 | $3.7K | Form 4 |
| Jun 6, 2025 | Patel Mona ChetanDirector | Buy | 10,000 | $1.46 | $14.6K | Form 4 |
| May 27, 2025 | BRYNELSEN CHARLESDirector | Buy | 35,000 | $1.65 | $57.8K | Form 4 |
| May 23, 2025 | BRYNELSEN CHARLESDirector | Buy | 13,000 | $1.64 | $21.3K | Form 4 |
| May 22, 2025 | BRYNELSEN CHARLESDirector | Buy | 2,000 | $1.68 | $3.4K | Form 4 |
| Nov 20, 2024 | Patel Mona ChetanDirector | Buy | 2,500 | $2.28 | $5.7K | Form 4 |
| Sep 11, 2024 | Patel Mona ChetanDirector | Buy | 4,000 | $3.33 | $13.3K | Form 4 |
| Sep 9, 2024 | Patel Mona ChetanDirector | Buy | 1,000 | $3.20 | $3.2K | Form 4 |
| Nov 21, 2023 | Lucas Brent T.Chief Executive Officer | Buy | 12,380 | $0.97 | $12.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Alta Partners LLCSCHEDULE 13G/A, 2 filings Aug 21, 2025 to Sep 14, 202630
- Nantahala Capital Management, LLCSCHEDULE 13G, 1 filing May 15, 202631
- Bleichroeder LPSCHEDULE 13G, 1 filing May 14, 202632
- Ayrton Capital LLCSCHEDULE 13G/A, 2 filings Feb 11, 2026 to May 11, 202633
- Glen A. TaylorSCHEDULE 13D/A, 2 filings Dec 8, 2025 to Feb 17, 202634
- ARISTEIA CAPITAL, L.L.C.SCHEDULE 13G/A, 5 filings Feb 14, 2022 to May 15, 202535
- Walleye Capital LLCSCHEDULE 13G/A, 2 filings Nov 13, 2024 to Feb 6, 202536
- Anzu SPAC GP I LLCSCHEDULE 13D, 1 filing Dec 26, 202437
- GLAZER CAPITAL, LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202338
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 32. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Nantahala Capital Management, LLC | 15,300,000 | $11.9M | 0.4% | +7,650,000 |
| Bleichroeder LP | 6,250,000 | $5.0M | 0.9% | No change |
| Vanguard Capital Management LLC | 880,214 | $697.1K | 0.0% | −1,458 |
| DSG Capital Advisors, LLC | 625,000 | $474.2K | 0.1% | No change |
| Geode Capital Management, LLC | 541,729 | $429.1K | 0.0% | +19,905 |
| Focus Partners Wealth | 425,310 | $336.8K | 0.0% | +212,655 |
| Vanguard Fiduciary Trust Co | 296,679 | $235.0K | 0.0% | +1,958 |
| UBS Group AG | 190,838 | $151.1K | 0.0% | +120,379 |
| Arcus Capital Partners, LLC | 187,573 | $148.6K | 0.1% | No change |
| ExodusPoint Capital Management, LP | 182,354 | $144.4K | 0.0% | New |
| Northern Trust Corp | 109,466 | $86.7K | 0.0% | −1,584 |
| Morgan Stanley | 90,921 | $72.0K | 0.0% | +17,021 |
| CIBC Bancorp USA Inc. | 77,887 | $61.7K | 0.0% | No change |
| LPL Financial LLC | 48,401 | $38.3K | 0.0% | +20,000 |
| Jane Street Group, LLC | 31,223 | $24.7K | 0.0% | New |
| Meteora Capital, LLC | 28,051 | $22.2K | 0.0% | No change |
| State Street Corp | 23,872 | $18.9K | 0.0% | No change |
| XTX Topco Ltd | 17,146 | $13.6K | 0.0% | New |
| Afg Fiduciary Services Limited Partnership | 12,000 | $9.0K | 0.0% | No change |
| BlueStem Wealth Partners, LLC | 10,454 | $8.3K | 0.0% | No change |
| Spire Wealth Management | 10,025 | $7.9K | 0.0% | New |
| Ballew Advisors, Inc | 10,121 | $7.6K | 0.0% | No change |
| BlackRock, Inc. | 5,309 | $4.2K | 0.0% | −42,205 |
| Wolff Wiese Magana LLC | 4,000 | $3.2K | 0.0% | New |
| Vanguard Global Advisers, LLC | 3,788 | $3.0K | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARWhitney Haring-Smith, Officer
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- 19SEC EDGARChas McKhann, Board member
- 20SEC EDGARMichael Curtis Crowe, Board member
- 21SEC EDGARCharles Brynelsen, Board member
- 22SEC EDGARGlen A. Taylor, Board member
- 23SEC EDGARJanis Smith-Gomez, Board member
- 24SEC EDGARMona Chetan Patel, Board member
- 25SEC EDGARDiane L. Dewbrey, Board member
- 26SEC EDGARPriya Cherian Huskins, Board member
- 27SEC EDGARSusan Kantor, Board member
- 28SEC EDGARTeresa A. Harris, Board member
- 29SEC EDGARWilliam A. Wulfsohn, Board member
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