The company's revenue base remains highly unstable, with a 76.08% year-over-year decline in its legacy segment and an operating margin of -1250.11% highlighting severe structural inefficiencies.
| Sales/Revenue | 1.95M | 590.08K | 2.47M | 1.71M | 766.28K | 827 | 0 |
| Revenue Growth % | 211.82% | -76.08% | 44.07% | 123.5% | 92557.44% | - | - |
| Cost of Goods Sold | 951.33K | 515.27K | 670.2K | 578.01K | 318.97K | 2.85K | 0 |
| COGS % of Revenue | - | 87.32% | 27.16% | 33.75% | 41.63% | 344.01% | - |
| Gross Profit | 391.78K | 74.81K | 1.8M | 1.13M | 447.31K | -2.02K | 0 |
| Gross Margin % | 20.05% | 12.68% | 72.84% | 66.25% | 58.37% | -244.01% | - |
| Gross Profit Growth % | - | -95.84% | 58.39% | 153.65% | 22265.96% | - | - |
| Operating Expenses | 9.38M | 7.45M | 3.66M | 5.42M | 2.24M | 783.04K | 222.91K |
| OpEx % of Revenue | - | 1262.79% | 148.48% | 316.6% | 291.75% | 94684.89% | - |
| Selling, General & Admin | 1.19M | 1.62M | 855.76K | 4.03M | 1.73M | 633.96K | 102.99K |
| SG&A % of Revenue | - | 275.21% | 34.68% | 235.2% | 225.69% | 76658.04% | - |
| Research & Development | 114.58K | 147.01K | 104.65K | 426.24K | 228.75K | 123.63K | 118.86K |
| R&D % of Revenue | - | 24.91% | 4.24% | 24.89% | 29.85% | 14949.46% | - |
| Other Operating Expenses | 3.06M | 5.68M | 2.7M | 967.92K | 277.48K | 25.45K | 1.07K |
| Operating Income | -13.47M | -7.38M | -1.87M | -1.14M | -1.79M | -785.06K | -221.84K |
| Operating Margin % | -689.3% | -1250.11% | -75.65% | -66.62% | -233.37% | -94928.66% | - |
| Operating Income Growth % | - | -295.2% | -63.6% | 36.2% | -127.79% | -253.88% | - |
| EBITDA | -13.06M | -7.27M | -1.78M | -1.13M | -1.78M | -782.3K | 0 |
| EBITDA Margin % | -668.11% | -1231.39% | -72.28% | -65.94% | -232.52% | -94595.28% | - |
| EBITDA Growth % | -433.32% | -307.42% | -57.93% | 36.62% | -127.76% | - | - |
| D&A (Non-Cash Add-back) | 254.5K | 110.5K | 83.1K | 11.65K | 6.51K | 2.76K | 221.84K |
| EBIT | -5.96M | -7.38M | -3.28M | -1.14M | -1.8M | -784.74K | -221.84K |
| Net Interest Income | -1.46M | -429.1K | -722.31K | -13.96K | 5.07K | 0 | 0 |
| Interest Income | 89.17K | 118.03K | 12.89K | 5.56K | 7.7K | 0 | 0 |
| Interest Expense | 536.65K | 547.13K | 735.2K | 19.52K | 2.63K | 0 | 0 |
| Other Income/Expense | 6.42K | -373.06K | -2.15M | -515.78K | -11.98K | 323 | -1.07K |
| Pretax Income | -6.04M | -7.75M | -4.02M | -1.66M | -1.8M | -784.74K | -222.91K |
| Pretax Margin % | -309.19% | -1313.33% | -162.8% | -96.74% | -234.94% | -94889.84% | - |
| Income Tax | 27.31K | 30.97K | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.45% | -0.4% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -10.42M | -7.71M | -6.25M | -4.3M | -1.8M | -784.74K | -222.91K |
| Net Margin % | -533.28% | -1306.28% | -253.14% | -251.17% | -234.94% | -94889.84% | - |
| Net Income Growth % | -85.86% | -23.41% | -45.2% | -138.94% | -129.41% | -252.04% | - |
| Net Income (Continuing) | -6.08M | -7.78M | -4.02M | -1.66M | -1.8M | -784.74K | -222.91K |
| Discontinued Operations | 60.57K | 72.6K | -2.23M | -2.64M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -23.44 | -378.74 | -6592.32 | -0.40 | -15.84 | -6.96 | -1.98 |
| EPS Growth % | 98.53% | 94.25% | -1647980% | 97.47% | -127.59% | -251.52% | - |
| EPS (Basic) | - | -378.74 | -6592.32 | -47072.64 | -15.84 | -6.96 | -1.98 |
| Diluted Shares Outstanding | 10K | 20.35K | 947 | 28.45K | 113.44K | 112.63K | 112.63K |
| Basic Shares Outstanding | 10K | 20.35K | 947 | 91 | 113.44K | 112.63K | 112.63K |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Liquidity and clinical failure
As reported in recent financial filings, PMGC Holdings has experienced extreme revenue volatility, highlighted by periods of zero reported revenue and a 76.08% year-over-year decline in its legacy aesthetic segment, suggesting the core commercial business is no longer a viable foundation for future growth.
The erratic revenue pattern indicates a business in the midst of a forced, potentially desperate, pivot away from its original skincare operations. Investors should monitor whether the company can generate any meaningful traction in its new therapeutic focus, as the current trajectory suggests a complete abandonment of its legacy revenue streams.
Based on the provided income statement data, the company's gross margin has fluctuated wildly, reaching as low as 14.9% in 2025Q3, which reflects a fundamental inability to maintain consistent profitability in its current operational model while managing high unit costs and potential inventory write-downs.
The extreme margin compression appears to be a byproduct of a high fixed-cost structure coupled with a rapidly evaporating revenue base. This lack of pricing power and operational efficiency suggests that the current business model is structurally unprofitable and requires a total transformation to achieve any semblance of sustainable margins.
According to the quarterly income statements, the company's operating margin of -1250.11% underscores a severe lack of operating leverage, where corporate overhead and R&D spending continue to dwarf the minimal gross profit generated by the legacy aesthetic skincare business segment.
The persistent negative operating income indicates that the company is currently functioning as an R&D shell rather than a commercial entity. Without a significant increase in revenue or a drastic reduction in SG&A, the company appears to be trapped in a cycle of burning capital to maintain its public listing and speculative development programs.
Analysis of the income statement suggests that the company's reliance on a $5.4M cash position to fund ongoing losses creates a precarious situation, as the lack of a stable revenue bridge makes the current R&D-heavy strategy appear highly susceptible to future dilutive equity financing.
Short-term observers may focus on the potential of the EL-22 program, but the financials suggest that the company is effectively running out of time to prove its clinical hypothesis. The absence of a reliable commercial engine to offset R&D costs warrants further investigation into the company's long-term viability as a going concern.
Quick answers to the most common questions about buying ELAB stock.
For fiscal year 2025, PMGC Holdings Inc. (ELAB) reported total revenue of $0.6M.
PMGC Holdings Inc. (ELAB) reported a net loss of $7.7M for the fiscal year ending 2025.
PMGC Holdings Inc. (ELAB) reported an operating income of $-7.4M, resulting in an operating profit margin of -1250.1%. This margin reflects the operational efficiency of the business before interest and taxes.
PMGC Holdings Inc. (ELAB) generated $0.1M in gross profit for the year, representing a gross profit margin of 12.7%. This demonstrates the company's core pricing power and production efficiency.