November 10, 2025 — Leads & Copy —
Envoy Medical, Inc. (NASDAQ: COCH), a hearing health company, has released its corporate and financial results for the third quarter ending September 30, 2025. The company also announced subsequent events, including FDA approval to expand its pivotal clinical trial to the final stage.
Corporate highlights for the third quarter of 2025 include extinguishing over $32 million in debt and strengthening the balance sheet, advancing commercialization planning as the FDA clinical trial remains on track, and expanding the patent portfolio by securing additional European and global patents. Envoy Medical also reached a three-month follow-up milestone in its clinical trial and further expanded its patent portfolio with new issuances in the United States.
Subsequent to the third quarter, Envoy Medical received FDA approval to expand its pivotal clinical trial to the final stage based on promising three-month data. The company also announced the closing of up to a $16 million registered direct offering priced at-the-market under Nasdaq rules and marked the three-year anniversary of the first successful implantation of a fully implanted cochlear implant.
The first three patients were enrolled in the final stage of the pivotal clinical trial of the fully implanted investigational Acclaim® cochlear implant.
According to Brent Lucas, Chief Executive Officer of Envoy Medical, the third quarter was transformational for the company. Envoy Medical extinguished $32 million in debt without issuing new equity, improving the balance sheet and eliminating the need to service that debt in the future. The company continued to progress in its pivotal clinical trial and received additional global patents in the U.S., Europe, and Australia.
Lucas added that Envoy Medical received approval from the FDA to expand its pivotal clinical trial to its final stage, and new patients are enrolling rapidly in the fully implanted cochlear implant trial. He expressed pride in the progress of the Envoy Medical team and stated the intention to increase momentum as they finish 2025.
Third quarter net revenue was $42,000 for the three months ended September 30, 2025.
R&D expenses decreased $57,000 to $2.7 million for the three months ended September 30, 2025, compared to the three months ended September 30, 2024. R&D product costs decreased $282,000 from the prior period as Envoy Medical moved from the development phase into the clinical trial phase. Personnel costs increased $282,000, and other R&D costs decreased $57,000 from the prior period to support the clinical trials with additional headcount. Increases in other R&D costs were offset by lower professional services fees.
General and administrative expenses increased $752,000 for the three months ended September 30, 2025, compared to the three months ended September 30, 2024. The increase is due to increased public company costs of $268,000 and expenses directly related to the September 2025 offering of $444,000.
As of September 30, 2025, Envoy Medical’s cash was approximately $3,556,000. Additional capital was raised post quarter end.
Phil Carlson
KCSA Strategic Communications
O: 212.896.1233
E: envoy@kcsa.com
Anne Donohoe
KCSA Strategic Communications
O: 732.620.0033
E: envoy@kcsa.com
Source: Envoy Medical
