Eargo, Inc.
eargo.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 7, 2023. Its latest SEC filing is a 15-12G from Feb 26, 2024.
10-Q for Q3 FY2023, filed Nov 7, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Sells in-the-canal hearing aids and related accessories to people with hearing loss.
10-K for FY2022, filed Mar 23, 2023Eargo, Inc. (“Eargo,” the “Company,” “we,” “us” or “our”) is a medical device company dedicated to improving the quality of life of people…View ↗
Eargo hearing aids combine proprietary technology, engineering know-how and scientific and design expertise to offer high-quality…View ↗
The Company’s revenue is generated from the sale of products (hearing aid systems and related accessories) and services (extended…View ↗
How Did They Make Money?
Customers buy hearing aid systems and accessories, with sales counted when products ship; extended-warranty services are counted evenly over the warranty period.
10-K for FY2022, filed Mar 23, 2023
$37.2M
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10-K for FY2022, filed Mar 23, 2023
$37.2M ↗
Who Were Their Customers?
Consumers can buy Eargo hearing aids directly by phone or on its website, or through retail locations and authorized resellers' online storefronts. Eargo sells wholesale to resellers, which then sell to end customers.
10-K for FY2022, filed Mar 23, 2023Customers are able to complete purchases over the phone with an Eargo sales consultant or directly on our website. The Eargo purchasing…View ↗
Following the United States Food and Drug Administration (“FDA”) final rule regarding the creation of a new category of over-the-counter…View ↗
Moreover, following the effective date of the OTC Final Rule, we have partnered with certain resellers and other distributors, including…View ↗
Did Revenues Turn Into Profits?
No. It lost $157.5M in FY2022.
10-K for FY2022, filed Mar 23, 2023
−$111.8MView ↗
10-K for FY2022, filed Mar 23, 2023
−$157.5MView ↗
10-K for FY2022, filed Mar 23, 2023
−$120.1MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 7, 2023
−$17.3MView ↗
- ▼ −66% (Loss)
- vs −$50.6M in Q3 FY2022
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Feb 16, 2024
Patient Square completed its acquisition of Eargo
Eargo halted Nasdaq trading and requested delisting after the deal closed.
Sources
8-K, filed Feb 16, 2024
On the Closing Date, Parent completed the acquisition of the Company. Pursuant to the Merger Agreement, at the effective time of the Merger…View ↗
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Dec 22, 2023
Mark Thorpe succeeded Adam Laponis as CFO
Sources
8-K, filed Dec 22, 2023
On December 19, 2023, Adam Laponis notified Eargo, Inc. (“Eargo” or the “Company”) that he will step down as Chief Financial Officer and…View ↗
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Oct 30, 2023
Patient Square agreed to acquire Eargo
Sources
8-K, filed Oct 30, 2023
On October 29, 2023, Eargo, Inc. (“Eargo” or the “Company”), PSC Echo Parent LLC (“Parent”) and PSC Echo Merger Sub Inc. (“Merger Sub”), a…View ↗
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Jun 27, 2023
CEO Christian Gormsen departed; William Brownie became interim CEO
Sources
8-K, filed Jun 27, 2023
On June 23, 2023, the Board approved plans for Christian Gormsen, President, Chief Executive Officer, and member of the Board of Directors…View ↗
Grew. Revenue grew 61% in 4 years, from $23.2M in FY2018 to $37.2M in FY2022, about 13% a year.
Who Did They Compete With?
Competes with GN Store Nord, Sonova, Starkey, William Demant, WS Audiology, Costco, Audicus, Lively, and Nuheara
10-K for FY2022, filed Mar 23, 2023After a period of industry consolidation, five manufacturers control a vast majority of the global hearing aid industry today. These…View ↗
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