2024 Q2 Form 10-Q Financial Statement

#000121390024043566 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $68.00K $59.00K $0.00
YoY Change
Cost Of Revenue $245.0K $153.0K $175.0K
YoY Change 51.23% -12.57%
Gross Profit -$177.0K -$94.00K -$175.0K
YoY Change 9.26% -46.29%
Gross Profit Margin -260.29% -159.32%
Selling, General & Admin $2.092M $2.444M $1.747M
YoY Change -6.1% 39.9%
% of Gross Profit
Research & Development $2.591M $2.360M $1.927M
YoY Change 20.34% 22.47%
% of Gross Profit
Depreciation & Amortization $42.00K $34.00K $27.00K
YoY Change 25.93%
% of Gross Profit
Operating Expenses $4.683M $4.804M $2.493M
YoY Change 4649.49% 92.73% 67.39%
Operating Profit -$4.860M -$4.898M -$2.493M
YoY Change 4829.21% 96.5% 67.39%
Interest Expense $669.0K -$1.110M $3.370M
YoY Change 74.43% -132.94% -76.66%
% of Operating Profit
Other Income/Expense, Net $913.0K -$1.372M $681.5K
YoY Change -170.13% -301.31% -239.87%
Pretax Income -$3.947M -$6.270M $1.559M
YoY Change 288.1% -502.12% -87.49%
Income Tax $841.5K
% Of Pretax Income 53.97%
Net Earnings -$3.947M -$6.270M $717.7K
YoY Change 246.76% -973.62% -94.24%
Net Earnings / Revenue -5804.41% -10627.12%
Basic Earnings Per Share -$0.27 -$0.32 -$1.31
Diluted Earnings Per Share -$0.27 -$0.32 $0.02
COMMON SHARES
Basic Shares Outstanding 19.60M shares 19.60M shares 10.12M shares
Diluted Shares Outstanding 19.60M shares 19.60M shares 10.12M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.746M $4.945M $104.0K
YoY Change 1215.06% 4653.89% -18.17%
Cash & Equivalents $1.746M $4.945M $104.0K
Short-Term Investments
Other Short-Term Assets $1.466M $1.109M $412.9K
YoY Change 453.37% 168.59% -33.1%
Inventory $1.582M $1.455M
Prepaid Expenses $412.9K
Receivables $174.0K $189.0K
Other Receivables $28.00K $32.00K
Total Short-Term Assets $4.996M $7.730M $516.9K
YoY Change 1156.23% 1395.41% -30.55%
LONG-TERM ASSETS
Property, Plant & Equipment $632.0K $317.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $44.37M
YoY Change -89.56%
Other Assets $1.035M
YoY Change 100.81%
Total Long-Term Assets $1.741M $750.0K $45.40M
YoY Change -96.1% -98.35% -89.33%
TOTAL ASSETS
Total Short-Term Assets $4.996M $7.730M $516.9K
Total Long-Term Assets $1.741M $750.0K $45.40M
Total Assets $6.737M $8.480M $45.92M
YoY Change -85.04% -81.53% -89.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.589M $913.0K $1.566M
YoY Change 11.0% -41.69% 137.64%
Accrued Expenses $6.004M $5.621M $5.546M
YoY Change 17.18% 1.36% 110.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $2.234M
YoY Change -100.0% -100.0% 197.91%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.058M $6.996M $9.499M
YoY Change -13.79% -26.35% 134.63%
LONG-TERM LIABILITIES
Long-Term Debt $7.292M $4.821M $0.00
YoY Change
Other Long-Term Liabilities $3.774M $4.076M $11.48M
YoY Change -68.26% -64.49% -46.71%
Total Long-Term Liabilities $11.07M $8.897M $11.48M
YoY Change -6.93% -22.49% -46.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.058M $6.996M $9.499M
Total Long-Term Liabilities $11.07M $8.897M $11.48M
Total Liabilities $19.12M $15.89M $20.98M
YoY Change -9.95% -24.24% -18.02%
SHAREHOLDERS EQUITY
Retained Earnings -$270.2M -$264.9M -$19.22M
YoY Change 1199.57% 1277.85% -20.74%
Common Stock $179.4K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$12.39M -$7.413M -$19.22M
YoY Change
Total Liabilities & Shareholders Equity $6.737M $8.480M $45.92M
YoY Change -85.04% -81.53% -89.23%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$3.947M -$6.270M $717.7K
YoY Change 246.76% -973.62% -94.24%
Depreciation, Depletion And Amortization $42.00K $34.00K $27.00K
YoY Change 25.93%
Cash From Operating Activities -$4.908M -$5.846M -$2.180M
YoY Change 622.89% 168.22% 182.06%
INVESTING ACTIVITIES
Capital Expenditures $357.0K $59.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$433.0K -$109.0K $389.0M
YoY Change -271.83% -100.03%
Cash From Investing Activities -$790.0K -$109.0K $389.0M
YoY Change -413.49% -100.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.500M $6.683M -386.9M
YoY Change 448.62% -101.73% -51683.0%
NET CHANGE
Cash From Operating Activities -4.908M -$5.846M -2.180M
Cash From Investing Activities -790.0K -$109.0K 389.0M
Cash From Financing Activities 2.500M $6.683M -386.9M
Net Change In Cash -3.198M $727.0K -3.753K
YoY Change -11223.48% -19471.17% -83.5%
FREE CASH FLOW
Cash From Operating Activities -$4.908M -$5.846M -$2.180M
Capital Expenditures $357.0K $59.00K
Free Cash Flow -$5.265M -$5.846M -$2.239M
YoY Change 161.15%

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ProceedsFromPurchaseAgreementAmount
1700000 usd
CY2023Q2 us-gaap Payments For Proceeds From Previous Acquisition
PaymentsForProceedsFromPreviousAcquisition
10000000 usd
CY2024Q1 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
264900000 usd
CY2024Q1 us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
5000000 usd
CY2024Q1 us-gaap Proceeds From Sale Of Other Receivables
ProceedsFromSaleOfOtherReceivables
1700000 usd
CY2023Q3 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
11700000 usd
CY2024Q1 us-gaap Cash
Cash
4900000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include but are not limited to the useful lives of property and equipment, inventory reserves, warranty liability, stock-based compensation expense, the fair value of forward purchase agreement put option liability, the fair value of forward purchase agreement warrant liability and the outcome of litigation. Estimates and assumptions are reviewed periodically and the effect of changes, if any, are reflected in the unaudited condensed consolidated statements of operations and comprehensive loss.</span></p>
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reclassification</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain items in prior financial statements have been reclassified to conform to the current presentation.</span></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentration of Credit Risk and Significant Customers</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable, net. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains its cash with financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to accounts receivable, the Company performs credit evaluations of its customers and does not require collateral. There have been no material losses on the Company’s accounts receivable. There were no customers that accounted for 10.0% or more of sales for the three months ended March 31, 2024 and 2023, respectively. There were no customers that accounted for 10.0% or more of the accounts receivable balance as of March 31, 2024 and December 31, 2023, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"> </p>
CY2024Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
2200000 usd
CY2024Q1 coch Warranty Liability
WarrantyLiability
2200000 usd
CY2023Q4 coch Warranty Liability
WarrantyLiability
2200000 usd
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
300000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
300000 usd
CY2024Q1 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-6300000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-13300000 usd
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 pure
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
8512 shares
CY2024Q1 coch Purchase Transaction Price
PurchaseTransactionPrice
10
CY2024Q1 us-gaap Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
10000000 usd
CY2024Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.12 pure
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1244000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1162000 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
105000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
158000 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
106000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
84000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
1455000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1404000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
97000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
97000 usd
CY2024Q1 coch Schedule Of Other Supplemental Information
ScheduleOfOtherSupplementalInformation
<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other supplemental information of lease amounts recognized in the unaudited condensed consolidated financial statements is summarized as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">113</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">111</td><td style="width: 1%; text-align: left"> </td></tr> </table>
CY2024Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
113000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
111000 usd
CY2024Q1 coch Schedule Of Weighted Average Operating Lease
ScheduleOfWeightedAverageOperatingLease
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Weighted-average remaining lease term (in years)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3.6</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3.9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted-average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.0</td><td style="text-align: left">%</td></tr> </table>
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
135000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
154000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
155000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
99000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
543000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
535000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2234000 usd
CY2024Q1 coch Standard Product Warranty Utilization
StandardProductWarrantyUtilization
-6000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2228000 usd
CY2024Q1 us-gaap Unrecovered Production Costs Excess Of Estimated Average Unit Cost
UnrecoveredProductionCostsExcessOfEstimatedAverageUnitCost
6000 usd
CY2024Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y
CY2024Q1 us-gaap Percentage Of Weighted Average Cost Inventory
PercentageOfWeightedAverageCostInventory
0.036 pure
CY2024Q1 coch Discount Rate
DiscountRate
0.05 pure
CY2024Q1 coch Withdrawal Of Funds
WithdrawalOfFunds
5000000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.24
CY2024Q1 coch Expiration Date
ExpirationDate
2027-02-27
CY2024Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
179380 usd
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
500000 shares
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
100000000 shares
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
11.5
CY2024Q1 us-gaap Auction Market Preferred Securities Stock Series Par Value Per Share
AuctionMarketPreferredSecuritiesStockSeriesParValuePerShare
15
CY2024Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.12 pure
CY2024Q1 us-gaap Other Additional Capital
OtherAdditionalCapital
10000000 usd
CY2024Q1 coch Unpaid Dividend
UnpaidDividend
1500000 usd
CY2023Q4 coch Unpaid Dividend
UnpaidDividend
800000 usd
CY2024Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
10
CY2023Q2 coch Expire Term For Grant
ExpireTermForGrant
P10Y
CY2023Q4 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
2.4
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
720505 shares
CY2024Q1 coch Percentage Of Stock Options Vested
PercentageOfStockOptionsVested
0.50 pure
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1967734 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.38
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
31955 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.35
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1999689 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.37
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M25D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3103871000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
934673 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.4
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y6M18D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1420703000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
500000 usd
CY2024Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
50000 usd
CY2023 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
50000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6270000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13253000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-13253000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6270000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-13253000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19599982 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10122581 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.31
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19599982 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10122581 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.31
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21079398 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
263000 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
usd
CY2023Q1 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
usd
CY2023Q1 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
usd
CY2024Q1 us-gaap Other Expenses
OtherExpenses
usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-13253000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6270000 usd
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.31
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10122581 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19599982 shares
CY2023Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2024Q1 coch Change In Fair Value Of Warrant Liabilityrelated Party
ChangeInFairValueOfWarrantLiabilityrelatedParty
usd
CY2024Q1 coch Other Expense Related To Warrant Liabilityrelated Party
OtherExpenseRelatedToWarrantLiabilityrelatedParty
usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2023Q1 coch Change In Fair Value Of Forward Purchase Agreement Warrant Liability
ChangeInFairValueOfForwardPurchaseAgreementWarrantLiability
usd
CY2023Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
CY2023Q1 us-gaap Payments For Other Deposits
PaymentsForOtherDeposits
usd
CY2024Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
CY2023Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2024Q1 us-gaap Interest Paid
InterestPaid
usd
CY2023Q1 us-gaap Interest Paid
InterestPaid
usd
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2024Q1 coch Deemed Capital Contribution From Related Party
DeemedCapitalContributionFromRelatedParty
usd
CY2023Q1 coch Dividends On Series A Preferred Shares
DividendsOnSeriesAPreferredShares
usd
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
usd
CY2024Q1 coch Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
CY2024Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
usd
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001840877

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