NEWPORT BEACH, Calif., May 15, 2026 (GLOBE NEWSWIRE) -- PMGC Holdings Inc. (Nasdaq: ELAB) ("PMGC" or the "Company"), a diversified holding company, has filed its Quarterly Report on Form 10-Q (the "Quarterly Report") for the three months ended March 31, 2026, with the U.S. Securities and Exchange Commission ("SEC").
The Quarterly Report is available on the SEC's website at www.sec.gov under the Company's filings.
Q1 2026 was a quarter of meaningful balance sheet growth, driven by the Company's financing and M&A activities, including the closing of the SVM Machining Inc. ("SVM") acquisition. SVM is a Northern California-based precision machining and manufacturing services company serving medical, aerospace, biotech & pharmaceutical, semiconductor, and transportation markets.
Balance Sheet Highlights
-- Total assets increased to approximately $26.0 million as of March 31,
2026, up 102% from approximately $12.87 million at year-end 2025 and up
193% year-over-year.
-- Shareholders' equity grew to approximately $12.6 million, up 61% from
approximately $7.84 million at year-end 2025 and up 55% year-over-year.
-- Cash and cash equivalents ended the quarter at approximately $14.4
million, up from $5.4 million at year-end 2025 and representing the
largest cash balance in the Company's history.
-- Net working capital improved to approximately $5.1 million from $2.9
million at year-end 2025.
Revenue Growth
Q1 2026 revenue reflects the contribution from all three operating manufacturing and packaging subsidiaries, with SVM Machining contributing a partial period following its closing on February 2, 2026.
-- Revenue for the three months ended March 31, 2026 was approximately
$682,000, compared to $nil for the same period in 2025.
-- Q1 2026 revenue exceeded the Company's entire FY2025 revenue of
approximately $590,000 in a single quarter.
-- On a sequential basis, revenue grew approximately 124% from approximately
$304,000 in the fourth quarter of 2025.
Subsequent Events
Subsequent to quarter-end, the Company executed several additional strategic initiatives:
-- Formation of NorthStrive Defense Tech LLC ("NorthStrive Defense") on
April 2, 2026, a company that will focus on identifying, acquiring, and
commercializing advanced defense technologies, with an emphasis on drone
and autonomous systems. Following this formation, NorthStrive Defense
signed two agreements with the option to acquire a patented GPS-denied
autonomous drone navigation technology and multi-domain drone payload
technology designed for air and water operations.
-- Entry into a new $40 million equity purchase facility with an
institutional investor on April 17, 2026, with an initial tranche of
approximately $10 million funded at closing. The Company may draw
additional amounts at its sole discretion over a 24-month commitment
period. This facility will provide the Company with committed, flexible
capital to continue executing on its active M&A pipeline currently
focused on aerospace, defense, and industrial manufacturing.
-- Closing of the acquisition of A&B Aerospace, Inc. ("A&B Aerospace") on
May 12, 2026. A&B Aerospace is a precision machining and aerospace
manufacturing company based in California, serving Tier 1 customers,
including Boeing, Honeywell, and Moog. A&B generated approximately $4.5
million in trailing-twelve-month revenue and is cash-flow positive.
About PMGC Holdings Inc.
PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "believes," "expects," "plans," "potential," "would" and "future" or similar expressions such as "look forward" are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC's filings with the United States Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 30, 2026, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
IR Contact: IR@pmgcholdings.com
(END) Dow Jones Newswires
May 15, 2026 07:02 ET (11:02 GMT)