PMGC Holdings (ELAB) AI Stock Analysis

• Market Cap: $3.87M
• Dividend Yield: N/A
• Average Volume (3M): 89.87K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.15
• 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: 3,248,764
• 10 Day Avg. Volume: 35,159
• 30 Day Avg. Volume: 89,868
• PEG Ratio: <0.01
• Price to Book (P/B): 0.77
• Price to Sales (P/S): 2.07
• P/FCF Ratio: -0.93
• Enterprise Value/Market Cap: -0.56
• Enterprise Value/Revenue: 1.49
• Enterprise Value/Gross Profit: 1.27
• Enterprise Value/Ebitda: 0.52
• 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: 41 Neutral
• Price Target: $2.00 ▲(29.03% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is held down primarily by weak financial fundamentals (ongoing losses and significant cash burn) and strongly bearish technical momentum (price well below major moving averages with oversold indicators). A positive pipeline-related corporate update provides some support, but valuation is not meaningfully assessable from the provided P/E and dividend data.

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

Financial performance is weak: the company remains loss-making with persistent negative operating results and net losses (TTM net loss -$6.66M). Cash flow is a major risk with ongoing operating and free-cash-flow burn (TTM OCF -$6.18M; TTM FCF -$6.59M). The balance sheet is a partial offset with higher equity (TTM $8.49M) and moderate leverage (TTM debt-to-equity ~0.52), but returns on equity are sharply negative (~-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	8.50M	3.98M	3.33M	1.15M	411.86K	13.35K
Total Debt	5.39M	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: Neutral

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 1.67, below the 50-day MA of 4.00, and below the 200-day MA of 20.64, indicating a bearish trend. The MACD of -1.00 indicates Negative momentum. The RSI at 22.76 is Positive, neither overbought nor oversold. The STOCH value of 27.67 is Neutral, 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%
CNSP	46 Neutral	$1.93M	-0.05	-197.11%	―	―	99.87%
INM	42 Neutral	$2.48M	-0.22	-82.17%	―	-3.27%	51.83%
ELAB	41 Neutral	$3.87M	―	―	―	―	―
BDRX	41 Neutral	$669.09K	-0.02	-60.37%	―	-100.00%	86.75%
INDP	41 Neutral	$4.63M	-0.07	-317.98%	―	―	34.57%

PMGC Holdings Corporate Events

PMGC Holdings Secures Third Structured Pre-Paid Equity Facility

On January 13, 2026, PMGC Holdings completed its third secured pre-paid equity purchase with an institutional investor under an existing securities purchase agreement, establishing a $5,464,500 principal pre-paid facility with a $464,500 original issue discount and receiving $5 million in gross proceeds and approximately $4.56 million in net proceeds after placement fees. The three-year instrument allows the investor to call for common shares at a discount to market subject to ownership caps, includes the option for partial cash settlement if the share price falls below a set threshold, and embeds stringent default and prepayment provisions—such as automatic balance increases and penalty interest upon default—that underscore both the company’s reliance on structured financing and the heightened risk-return profile for shareholders and the funding investor.

The most recent analyst rating on (ELAB) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on PMGC Holdings stock, see the ELAB Stock Forecast page.

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.