PMGC Holdings Inc. Reports Q2 2025 Financial Results with Reduced Net Loss

PMGC Holdings Inc. (formerly Elevai Labs Inc.) reported its financial results for the second quarter of 2025, revealing a net loss of $562,355, a decrease from a loss of $1,412,491 in the same period last year. For the six months ending June 30, 2025, the company incurred a net loss of $2,170,810, compared to a loss of $2,809,741 in the prior year. The company’s total operating expenses for the second quarter were $1,013,518, significantly higher than the $556,242 reported in the same quarter of 2024, primarily due to increased consulting and professional fees associated with corporate restructuring and business acquisition efforts.

The company experienced a notable change in its financial position following the sale of its skincare business on January 16, 2025. This strategic decision has led to a shift in PMGC's focus towards becoming a diversified holding company, managing a portfolio that includes NorthStrive BioSciences, PMGC Research, and PMGC Capital. As of June 30, 2025, PMGC reported total assets of $9,375,476, up from $8,993,165 at the end of 2024, with current assets increasing to $7,302,844 from $6,051,001. The company’s cash position improved to $5,682,628, compared to $3,984,453 at the end of the previous year.

Operationally, PMGC has made significant strides in its research and development efforts, particularly with its lead asset, EL-22, which focuses on addressing obesity. The company reported an increase in research and development expenses to $99,108 for the first half of 2025, up from $55,553 in the same period last year. This increase reflects ongoing clinical validation studies and preparations for an Investigational New Drug application. Additionally, PMGC's consulting fees rose to $745,902 for the first half of 2025, driven by bonus-related expenses and increased internal consulting services.

Looking ahead, PMGC Holdings Inc. aims to enhance its revenue through strategic acquisitions and investments, particularly via PMGC Capital. The company plans to establish new subsidiaries to commercialize newly acquired or licensed assets and advance its clinical development initiatives. Management has expressed confidence in its ability to secure additional funding to support these objectives, although it acknowledges the inherent risks and uncertainties associated with its business model and market conditions. The company’s accumulated deficit as of June 30, 2025, stood at $15,440,437, up from $13,269,627 at the end of 2024, indicating ongoing challenges in achieving profitability.