Envoy Medical, Inc.

AI-generated fair value estimate for this company.

Method: Net cash NAV: $18.9M net cash ($19.7M cash minus $0.8M debt, 6/30/26), divided by ~77.2M shares outstanding (implied by current market cap ÷ price).

Reasoning: Envoy Medical has essentially no commercial revenue yet ($0.21M TTM) and its value hinges almost entirely on binary FDA approval of the Acclaim fully-implanted cochlear implant, so a net-cash floor is the only reliably groundable value; the market's higher current price reflects option value on FDA approval/commercialization that this conservative balance-sheet-only method deliberately excludes.