10-K · March 26, 2026
enVVeno is a pre-revenue medical device company that pivoted after an August 19, 2025 FDA not-approvable letter for VenoValve to a next‑generation transcatheter enVVe System (pre-clinical testing complete; pivotal trial…
Earnings analysis · 10-Q
NVNO earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
enVVeno Medical Corporation reported a significant net loss of $3.85 million for Q1 2026, showing a 15% improvement compared to $4.50 million in Q1 2025. Operating expenses decreased as the company shifts focus towards…
Read full summary
enVVeno Medical Corporation reported a significant net loss of $3.85 million for Q1 2026, showing a 15% improvement compared to $4.50 million in Q1 2025. Operating expenses decreased as the company shifts focus towards its enVVe system after FDA IDE approval, but it continues to struggle with no revenue generation, consistent with its developmental stage. Cash and investments decreased to approximately $24.9 million, along with a cash burn rate projected to rise between $4 million and $5 million per quarter in 2026.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-5.89
- Segment
- Medical Device Development
What stood out
-
Net Loss Improvement
Net loss reduced to $3.85 million in Q1 2026 from $4.50 million in Q1 2025.
-
Cash Reserves Status
Total cash and investments decreased to $24.9 million from $28.2 million at year-end 2025.
-
Decreased Operating Expenses
Operating expenses decreased by 22% year-over-year, totaling approximately $4.1 million.
-
FDA IDE Approval Milestone
The FDA approved the enVVe system's IDE application, allowing pivotal study commencement.
-
Continued Zero Revenue
As a developmental company, enVVeno continues to report zero revenue.
-
Operating Cash Flow Reduction
Cash used in operating activities decreased to $3.2 million from $4.0 million year-over-year.
What to watch
-
Ongoing Cash Burn Concerns
Projected cash burn of $4-$5 million per quarter could strain liquidity beyond 2027.
-
No Revenue Generation
Continues to operate without revenue, which poses risks to sustaining operations long-term.
-
Regulatory Approval Dependency
Future revenue relies on potential FDA approval for the enVVe system; current revenues are $0.
Management's outlook
Management anticipates operating losses will continue; cash burn projected at $4-$5 million per quarter in 2026.
Earlier filings 4
10-K · February 29, 2024
enVVeno (NVNO) is a late-clinical stage medical device company focused on first-in-class surgical (VenoValve) and transcatheter (enVVe) replacement venous valves for severe deep venous chronic venous insufficiency. The…
10-Q · July 31, 2023
enVVeno (NVNO) reported no revenue and a quarterly net loss of $(6,474) (Q2 2023), an improvement versus $(7,062) in Q2 2022; GAAP loss per share improved to $(0.58) from $(0.63). Management reduced SG&A to $2,600 (Q2…
10-Q · October 27, 2022
EnVVeno (NVNO) reported no product revenue and a wider quarterly loss: net loss was $6,097,000 ( $(0.54) per share) in Q3 2022 versus $2,389,000 ( $(0.26) ) in Q3 2021. Operating losses rose as SG&A increased to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.