PMGC Holdings Inc. (PMGC), formerly Elevai Labs Inc., reported revenue of $590,084 for the fiscal year ended December 31, 2025, compared to no revenue for the prior year. The revenue was generated by the company's newly acquired subsidiaries, Pacific Sun Packaging and AGA Precision Systems. Cost of goods sold totaled $404,770, resulting in a gross profit of $185,314, representing a gross margin of 31.4%.
Operating expenses for the year ended December 31, 2025, totaled $7.067 million, a significant increase from $3.664 million in the prior year. This increase was primarily due to higher consulting fees, office and administrative expenses, professional fees, and the inclusion of repair and maintenance costs of $717,654 related to the newly acquired businesses. The company reported a net loss from continuing operations of $7.781 million, compared to a net loss of $4.017 million in the previous fiscal year.
The company's financial position showed a net working capital of $2.929 million as of December 31, 2025, compared to $4.252 million as of December 31, 2024. Cash and cash equivalents increased to $5.402 million from $3.984 million in the prior year. The company used $5.803 million in operating activities and $2.765 million in investing activities, while financing activities provided $10.117 million.
Strategic developments during the year included the acquisitions of Pacific Sun Packaging and AGA Precision Systems, expanding PMGC's operations into specialty packaging and precision manufacturing. The company also divested its Elevai Skincare business to focus on biotechnology assets and potential business acquisitions. As of March 30, 2026, there were 1,159,112 shares of the company's common stock issued and outstanding. The company's future plans include increasing revenue through strategic capital deployment, acquiring operating businesses, and advancing clinical development of biotechnology assets.
About PMGC Holdings Inc.
PMGC Holdings Inc. is a biotechnology holding company focused on developing and acquiring assets in the biopharmaceutical sector. Its subsidiaries, including Northstrive Biosciences, develop innovative therapies for obesity and muscle preservation, leveraging proprietary probiotic and biotech platforms. The company emphasizes strategic investments, licensing, and partnerships to commercialize clinical-stage assets and address unmet medical needs in metabolic and regenerative medicine markets.
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