COCH (Envoy Medical) Operating Income: $-23.62 Mil (TTM As of Jun. 2026)

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COCH Envoy Medical Inc COCH
6 GF Score
Price $0.75
GF Value $0.58
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Envoy Medical Operating Income?

Envoy Medical COCH -3.21% 6 Operating Income is $-23.62 Mil as of Jun. 2026. GuruFocus rates COCH with a GF Score™ of 6/100 and a GF Value™ of $0.58 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Envoy Medical's Operating Income for the three months ended in Jun. 2026 was $-5.57 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was $-23.62 Mil.

Warning Sign:

Envoy Medical Inc has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Envoy Medical's Operating Income for the three months ended in Jun. 2026 was $-5.57 Mil. Envoy Medical's Revenue for the three months ended in Jun. 2026 was $0.05 Mil. Therefore, Envoy Medical's Operating Margin % for the quarter that ended in Jun. 2026 was -10,919.61%.

Envoy Medical's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Envoy Medical's annualized ROC % for the quarter that ended in Jun. 2026 was -796.00%. Envoy Medical's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -1,346.54%.


Envoy Medical  (NAS:COCH) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Envoy Medical's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=-22.276 * ( 1 - 0% )/( (2.998 + 2.599)/ 2 )
=-22.276/2.7985
=-796.00 %

where

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Envoy Medical's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-23.928/( ( (1.815 + max(-9.619, 0)) + (1.739 + max(-10.281, 0)) )/ 2 )
=-23.928/( ( 1.815 + 1.739 )/ 2 )
=-23.928/1.777
=-1,346.54 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.031 + 1.49 + 0.893) - (11.353 + 0 + 0.68)
=-9.619

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.049 + 1.579 + 0.593) - (12.067 + 0 + 0.435)
=-10.281

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Envoy Medical's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=-5.569/0.051
=-10,919.61 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Envoy Medical Operating Income Related Terms


Envoy Medical Operating Income Historical Data

* Premium members only.

The historical data trend for Envoy Medical's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Envoy Medical Operating Income Chart

Envoy Medical Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
-6.87 -8.71 -18.36 -19.26 -22.27

Envoy Medical Quarterly Data
Dec21 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -5.07 -5.71 -6.39 -5.96 -5.57
COCH
6GF Score
Envoy Medical Inc COCH
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Envoy Medical Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-23.62 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $-23.62 Mil mean?
Envoy Medical (COCH) has a Operating Income of $-23.62 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Envoy Medical and its competitors.
Is Envoy Medical's Operating Income too high?
Envoy Medical's current Operating Income is $-23.62 Mil. Overall, Envoy Medical has a GF Score™ of 6/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Envoy Medical's Operating Income compare to ECOR and MDAI?
Envoy Medical's Operating Income of $-23.62 Mil can be compared against companies in the Medical Devices & Instruments industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Medical Devices & Instruments company?
A good Operating Income depends on the Medical Devices & Instruments industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Envoy Medical and its competitors. Envoy Medical's current Operating Income is $-23.62 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Envoy Medical stock overvalued right now?
Based on GuruFocus' analysis, Envoy Medical (COCH) is currently considered Modestly Overvalued. The stock's GF Value™ is $0.58, compared to a current price of $0.75 — trading 28.5% above its estimated fair value. The current Operating Income is $-23.62 Mil. Envoy Medical's overall GF Score™ is 6/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Envoy Medical (COCH), the current Operating Income is $-23.62 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Envoy Medical (COCH) Overvalued in 2026?

Based on GuruFocus' analysis, Envoy Medical stock appears to be overvalued. The current stock price of $0.75 is trading 28.5% above its estimated GF Value™ of $0.58. GuruFocus considers Envoy Medical to be Modestly Overvalued.

Key valuation signals for COCH:

  • Operating Income: $-23.62 Mil
  • GF Value™: $0.58 vs. price of $0.75 (28.5% above fair value)
  • GF Score™: 6/100 with 8 warning signs

No single metric tells the full story. See the COCH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Envoy Medical Business Description

Address 4875 White Bear Parkway, White Bear Lake, MN, USA, 55110
Envoy Medical Inc is a hearing health company focused on providing medical technologies across the hearing loss spectrum. Its product portfolio comprises: the Esteem FI-AMEI, a fully implanted active middle ear implant (FI -AMEI) that works with the ear's natural anatomy, and is FDA-approved for adults with moderate to severe sensorineural hearing loss; and Acclaim CI, an investigational cochlear implant under development. The company derives all of its revenue substantially from the sale of the Esteem FI-AMEI implants and their replacement components. It has one reportable segment: hearing.
6GF Score

Get the complete analysis for COCH

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.75
Price
$0.58
GF Value