Eargo (EAR)

Company Profile

Eargo is a medical device company dedicated to improving the quality of life of people with hearing loss. The Company's innovative product and go-to-market approach address the major challenges of traditional hearing aid adoption, including social stigma, accessibility and cost. The company believes that Eargo hearing aids are the first and only virtually invisible, rechargeable, completely-in-canal, FDA registered, exempt Class I or Class 2 devices for the treatment of hearing loss. The Company's differentiated, consumer-first solution empowers consumers to take control of their hearing. Consumers can purchase online or over the phone and get personalized and convenient consultation and support from licensed hearing professionals via phone, text, email or video chat. The Eargo solution is offered to consumers at approximately half the cost of competing hearing aids purchased through traditional channels in the United States. The company’s 4th generation product, the Eargo Neo HiFi, was launched in January 2020 and features improved capabilities across audio fidelity and bandwidth.

Company profile

Ticker

EAR

Exchange

Website

Incorporated

Location

Fiscal year end

Sector

Manufacturing > Electromedical and Electrotherapeutic Apparatus Manufacturing

Industry (SIC)

Orthopedic, Prosthetic & Surgical Appliances & Supplies

Zimmer Biomet • Enovis • Steris • Intuitive Surgical • Avanos Medical • Edwards Lifesciences • Invacare • MSA Safety • Align Technology • Surgalign ...

SEC CIK

0001719395

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Eargo Hearing, Inc. • Eargo Screening, LLC ...

IRS number

273879804

EAR stock data

1M 1Y 5Y

Latest filings (excl ownership)

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8-K

Material Modifications to Rights of Security Holders

17 Jan 23

8-K

Entry into a Material Definitive Agreement

13 Jan 23

8-K

Eargo to Complete a 1-for-20 Reverse Stock Split

11 Jan 23

8-K

Hearing Wellness Pioneer Eargo Launches

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard

15 Dec 22

8-K/A

Eargo Announces Closing of Rights Offering and Conversion of Patient Square Notes into Shares of Eargo Common Stock

12 Dec 22

8-K

Eargo Announces Strategic Additions to Board of Directors Following Patient Square Capital Becoming New Majority Shareholder

7 Dec 22

8-K

Eargo Announces Closing of Rights Offering and Conversion of Patient Square Notes into Shares of Eargo Common Stock

29 Nov 22

8-K

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard

18 Nov 22

Transcripts

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EAR

Earnings call transcript

2022 Q3

6 Nov 22

EAR

Earnings call transcript

2022 Q2

9 Aug 22

EAR

Earnings call transcript

2021 Q2

13 Aug 21

EAR

Earnings call transcript

2021 Q1

13 May 21

EAR

Earnings call transcript

2020 Q4

26 Feb 21

Latest ownership filings

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Nan Fung Group Holdings Ltd

16 Dec 22

SC 13D/A

New Enterprise Associates 15, L.P.

Afshin Justin Sabet-Peyman

9 Dec 22

Trit Garg

9 Dec 22

Afshin Justin Sabet-Peyman

Financial summary

Financial statements Chart EAR financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	88.08 mm	88.08 mm	88.08 mm	88.08 mm	88.08 mm	88.08 mm
Cash burn (monthly)	6.19 mm	5.70 mm	16.88 mm	13.27 mm	4.66 mm	11.82 mm
Cash used (since last report)	24.12 mm	22.22 mm	65.82 mm	51.75 mm	18.18 mm	46.10 mm
Cash remaining	63.95 mm	65.85 mm	22.25 mm	36.33 mm	69.90 mm	41.98 mm
Runway (months of cash)	10.3	11.6	1.3	2.7	15.0	3.6

Beta Read what these cash burn values mean

Financial data from Eargo earnings reports.

Institutional ownership, Q3 2022

EAR institutional ownership history Ownership history

60.4% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	50	65	-23.1%
Opened positions	9	15	-40.0%
Closed positions	24	35	-31.4%
Increased positions	13	11	+18.2%
Reduced positions	15	26	-42.3%

13F shares	Current	Prev Q	Change
Total value	447.42 mm	444.78 mm	+0.6%
Total shares	23.82 mm	26.55 mm	-10.3%
Total puts	764.30 k	59.90 k	+1176.0%
Total calls	315.60 k	236.50 k	+33.4%
Total put/call ratio	2.4	0.3	+856.2%

Largest owners	Shares	Value	Change
NEA Management	4.52 mm	$4.75 mm	0.0%
New Enterprise Associates 15	4.52 mm	$150.07 mm	0.0%
Gilde Healthcare Holding B.V.	3.31 mm	$180.06 mm	0.0%
Nan Fung	2.89 mm	$3.03 mm	0.0%
Alger Associates	1.96 mm	$39.15 mm	0.0%
Longitude Capital Partners IV	1.92 mm	$64.33 mm	0.0%
Renaissance Technologies	1.05 mm	$1.11 mm	+81.4%
Oasis Management	711.39 k	$747.00 k	+191.7%
BLK Blackrock	602.98 k	$633.00 k	+16.1%
Vanguard	406.50 k	$427.00 k	-49.4%

Largest transactions	Shares	Bought/sold	Change
Newtyn Management	0.00	-1.31 mm	EXIT
Nantahala Capital Management	0.00	-1.03 mm	EXIT
Renaissance Technologies	1.05 mm	+472.64 k	+81.4%
Oasis Management	711.39 k	+467.49 k	+191.7%
Citadel Advisors	28.88 k	-456.61 k	-94.1%
Vanguard	406.50 k	-397.47 k	-49.4%
Susquehanna International	396.12 k	+275.20 k	+227.6%
BK Bank Of New York Mellon	158.26 k	+143.26 k	+955.1%
Ergoteles	0.00	-134.60 k	EXIT
Millennium Management	170.65 k	-130.24 k	-43.3%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.