PMGC Holdings (ELAB) AI Stock Analysis

• Market Cap: $3.77M
• Dividend Yield: N/A
• Average Volume (3M): 89.87K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 2
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 1,185,795
• 10 Day Avg. Volume: 35,159
• 30 Day Avg. Volume: 89,868
• PEG Ratio: <0.01
• Price to Book (P/B): 0.05
• Price to Sales (P/S): 0.13
• P/FCF Ratio: -0.06
• Enterprise Value/Market Cap: -0.69
• Enterprise Value/Revenue: 1.77
• Enterprise Value/Gross Profit: 1.51
• Enterprise Value/Ebitda: 0.62
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $3.00 ▲(93.55% Upside)

The score is held down primarily by weak financial performance (continued losses, negative TTM revenue/gross profit, and sizable cash burn) and strongly bearish technicals (price far below key moving averages with negative MACD and very low RSI/Stoch). Positive corporate events provide some offset, while valuation inputs are largely non-actionable given the non-meaningful P/E and missing dividend yield.

Positive Factors

Strategic Acquisition

The acquisition of Indarg Engineering enhances PMGC's manufacturing capabilities and market position in aerospace and defense, supporting long-term growth.

AI-Driven Drug Development

Advancing AI-driven drug development positions PMGC to capitalize on innovative therapies for obesity, potentially strengthening its market presence in biotechnology.

Certification Achievement

AS9100 certification enhances AGA's credibility and ability to secure complex aerospace and defense contracts, supporting sustained business growth.

Negative Factors

Ongoing Cash Burn

Persistent negative cash flow indicates the company is not self-funding, posing risks to long-term financial stability and operational sustainability.

Revenue Volatility

Significant revenue volatility undermines predictability and reliability of income streams, challenging the company's ability to sustain growth.

Weak Profitability

Continued losses and negative profitability highlight challenges in achieving sustainable operations and financial health, impacting long-term viability.

PMGC Holdings Business Overview & Revenue Model

Company Description

PMGC Holdings Inc., a biopharmaceutical company, focuses on the development and acquisition of cutting-edge aesthetic medicines and therapeutic products. The company's lead product includes EL-22, a first-in-class engineered probiotic approach to address obesity's pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. It is also involved in the medical scientific research and development activities, as well as operates investment firms. The company was formerly known as Elevai Labs, Inc. and changed its name to PMGC Holdings Inc. in December 2024. PMGC Holdings Inc. was incorporated in 2020 and is based in Newport Beach, California.

How the Company Makes Money

ELEVAI Labs Inc. generates revenue through the sale of its skincare products that leverage exosome technology. The company's revenue streams primarily consist of direct-to-consumer sales through their online platform and partnerships with dermatologists and skincare professionals who incorporate ELEVAI's products into their practice. Additionally, ELEVAI may engage in strategic partnerships with other biotechnology firms or cosmetic companies to expand its market presence and enhance product distribution, thereby contributing to its revenue. The company's focus on innovative biotechnology solutions and targeted marketing efforts are key factors in driving its earnings.

PMGC Holdings Financial Statement Overview

Summary

Financials reflect an early-stage, loss-making profile: persistent net losses (TTM net loss -$6.66M) and ongoing operating/free-cash-flow burn (TTM OCF -$6.18M; TTM FCF -$6.59M). Balance sheet is a partial offset with higher equity (TTM $8.49M) but added leverage (TTM debt-to-equity ~0.52) and very weak ROE (~-51%).

Income Statement

Results show a company still in a heavy loss-making phase. Annual revenue expanded meaningfully from 2022–2024 (from $0.77M to $2.47M), but TTM (Trailing-Twelve-Months) revenue turned negative (-$1.46M), indicating major revenue volatility or reversals. Profitability remains weak across the period with negative operating profit and net losses every year (TTM net loss of -$6.66M; 2024 net loss of -$6.25M). Gross profit margins were positive in 2022–2024, but TTM gross profit is negative, reinforcing concerns on business stability and near-term earnings quality.

Balance Sheet

The balance sheet shows improved capitalization over time, with stockholders’ equity rising from $0.45M (2021) to $6.66M (2024) and $8.49M in TTM (Trailing-Twelve-Months), which provides a larger cushion to fund operations. Leverage is moderate in the latest period (TTM debt of $4.41M and debt-to-equity of ~0.52), though this is a step up versus 2024 (no debt). Returns to shareholders are sharply negative (TTM return on equity around -51%), reflecting that losses are still large relative to the equity base.

Cash Flow

Cash generation is a key weakness: operating cash flow is consistently negative each year, including -$5.49M in 2024 and -$6.18M in TTM (Trailing-Twelve-Months), showing the business is not self-funding. Free cash flow is also persistently negative (TTM -$6.59M). While free cash flow growth is reported as improving in TTM, the absolute cash burn remains substantial, and cash flow does not cover the net loss in a way that signals underlying operating strength (coverage remains negative).

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-1.46M	2.47M	1.71M	766.28K	827.00	0.00
Gross Profit	-1.72M	1.80M	1.13M	447.31K	-2.02K	0.00
EBITDA	-4.19M	-3.20M	-4.27M	-1.79M	-782.30K	-1.07K
Net Income	-6.66M	-6.25M	-4.30M	-1.80M	-784.74K	-222.91K
Balance Sheet
Total Assets	14.94M	8.99M	5.19M	1.89M	666.25K	17.02K
Cash, Cash Equivalents and Short-Term Investments	7.70M	3.98M	3.33M	1.15M	411.86K	13.35K
Total Debt	4.41M	0.00	210.49K	283.22K	0.00	24.00K
Total Liabilities	6.45M	2.33M	1.36M	760.87K	215.62K	40.61K
Stockholders Equity	8.49M	6.66M	3.83M	1.13M	450.63K	-23.59K
Cash Flow
Free Cash Flow	-6.59M	-5.49M	-4.57M	-1.62M	-693.42K	-217.16K
Operating Cash Flow	-6.18M	-5.49M	-4.56M	-1.59M	-660.93K	-217.16K
Investing Cash Flow	-2.66M	-610.56K	-11.19K	-32.03K	-32.48K	0.00
Financing Cash Flow	10.12M	6.76M	6.74M	2.36M	1.09M	238.28K

PMGC Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELAB, the sentiment is Negative. The current price of 1.55 is below the 20-day moving average (MA) of 5.83, below the 50-day MA of 13.99, and below the 200-day MA of 26.03, indicating a bearish trend. The MACD of -2.97 indicates Negative momentum. The RSI at 16.71 is Positive, neither overbought nor oversold. The STOCH value of 1.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ELAB.

PMGC Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
INDP	46 Neutral	$7.43M	-0.11	-317.98%	―	―	34.57%
CNSP	46 Neutral	$4.37M	-0.12	-197.11%	―	―	99.87%
ELAB	45 Neutral	$3.77M	―	―	―	―	―
INM	44 Neutral	$3.08M	-0.16	-82.17%	―	-3.27%	51.83%
BDRX	41 Neutral	$1.39M	-0.03	-60.37%	―	-100.00%	86.75%

PMGC Holdings Corporate Events

PMGC Holdings Closes Second Secured Pre-Paid Equity Deal

On January 7, 2026, PMGC Holdings entered into and closed a second secured pre-paid equity purchase with an existing investor under its previously established equity purchase facility, raising $3 million in gross proceeds and approximately $2.73 million in net proceeds after placement and legal fees. The instrument, which carries a $3,278,700 principal amount with an original issue discount and matures on January 7, 2029, allows the investor to require the company to issue shares at a discount to the prevailing market price within set ownership caps, includes options for partial cash settlement if the share price falls below a specified threshold, and contains stringent prepayment premiums and default provisions that could accelerate repayment, increase the outstanding balance, and impose penalty interest, underscoring both the company’s need for flexible funding and the heightened contractual protections afforded to the investor.

The most recent analyst rating on (ELAB) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on PMGC Holdings stock, see the ELAB Stock Forecast page.

PMGC Holdings Announces 1-for-4 Reverse Stock Split

On January 5, 2026, Newport Beach-based PMGC Holdings Inc. announced it would implement a 1-for-4 reverse stock split of its common shares, effective at 9:00 a.m. Eastern time on January 6, 2026, consolidating every four issued, outstanding and authorized shares into one share and assigning the stock a new CUSIP number while retaining the ELAB trading symbol. The move will reduce the company’s outstanding common stock from approximately 2,014,852 shares to about 503,713 shares, with proportional adjustments to equity awards and warrants and no change to total shareholder equity, a capital-structure action that typically aims to increase the per-share trading price and may help support compliance with exchange listing requirements and improve the stock’s market perception among investors.

The most recent analyst rating on (ELAB) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on PMGC Holdings stock, see the ELAB Stock Forecast page.

PMGC Holdings Advances AI-Driven Obesity Drug Program

On December 17, 2025, NorthStrive Biosciences, a subsidiary of PMGC Holdings, announced it had initiated Phase III of its AI Development Program with Yuva Biosciences to move AI-identified small-molecule candidates for obesity and related metabolic conditions into experimental validation. The program, which builds on Phase II work using YuvaBio’s MitoNova mitochondrial-focused AI platform, will focus on generating biological data, including cytotoxicity screening and ANT1 gene expression testing, to prioritize compounds that may support mitochondrial health and muscle preservation in patients on GLP-1 therapies over a planned six-to-nine-week Phase III timeline, potentially strengthening PMGC’s position in obesity-related therapeutics and AI-driven drug discovery.

PMGC Holdings’ Subsidiary Achieves ITAR Registration

On October 30, 2025, PMGC Holdings Inc. announced that its subsidiary, AGA Precision Systems LLC, has achieved ITAR registration, allowing it to comply with U.S. export-control standards. This milestone enhances AGA’s eligibility as a qualified supplier to Tier 1 defense contractors and aerospace OEMs, aligning with PMGC’s strategy to expand into high-value, defense-related manufacturing.

PMGC Holdings Completes Strategic Acquisition of Indarg Engineering

On October 28, 2025, PMGC Holdings Inc. announced that its subsidiary, AGA Precision Systems LLC, completed the acquisition of Indarg Engineering, Inc., a precision CNC machining company. This strategic acquisition aims to accelerate PMGC’s U.S. manufacturing roll-up strategy by expanding its footprint in the aerospace and industrial supply chains. The acquisition adds a profitable CNC platform with established customer relationships, enhancing earnings scalability and operational synergies. The Hawthorne facility of Indarg Engineering will be rebranded under AGA Precision Systems, strengthening AGA’s position as a trusted U.S.-based supplier of complex, high-precision components for the aerospace and defense industries.

PMGC Holdings Amends Secondment and Consulting Agreements

On October 16, 2025, PMGC Holdings Inc. amended its secondment agreements with GB Capital Ltd. and Northstrive Companies Inc., both of which are owned by the company’s executives. These amendments included changes to employee classifications, compensation structures, and reimbursement policies for seconded employees. Additionally, the company introduced milestone-driven bonuses and clarified reimbursement terms for various expenses. The amendments also modified the consulting agreements with these entities, addressing issues such as housing reimbursements, tax responsibilities, and the nature of the consulting relationships, emphasizing the non-employment status and allowing these entities to engage with other clients.