PMGC Holdings Inc. (PMGC) stock traded at $1.9900, down 3.40%, after early volatility pressured midday momentum. The Nasdaq-listed company also filed its Q1 2026 report with the SEC. Moreover, fresh acquisitions and a $40 million facility highlighted its expansion push.
PMGC reported total assets of about $26.0 million as of March 31, 2026. That figure marked a 102% increase from about $12.87 million at year-end 2025. It also showed 193% year-over-year growth, driven by financing and M&A activity.
Shareholders’ equity rose to about $12.6 million during the quarter. That compared with about $7.84 million at the end of 2025. Meanwhile, cash and cash equivalents climbed to about $14.4 million.
The company said the cash balance marked the highest level in its history. Net working capital also improved to about $5.1 million from $2.9 million. Therefore, PMGC entered the next phase with stronger liquidity and a broader balance sheet.
PMGC generated about $682,000 in revenue during the first quarter of 2026. The company reported no revenue for the same period in 2025. Besides, quarterly revenue exceeded its full-year 2025 revenue of about $590,000.
The revenue came from three operating manufacturing and packaging subsidiaries. SVM Machining also contributed partial-period revenue after its February 2 closing. The acquisition added exposure to precision machining and manufacturing services.
SVM serves medical, aerospace, biotech, pharmaceutical, semiconductor, and transportation markets. Consequently, the deal supported PMGC’s shift toward industrial and specialized manufacturing assets. Sequentially, revenue grew about 124% from about $304,000 in Q4 2025.
After quarter-end, PMGC formed NorthStrive Defense Tech LLC on April 2, 2026. The unit will focus on defense technologies, including drones and autonomous systems. Moreover, NorthStrive signed two agreements tied to GPS-denied drone navigation and payload technology.
On April 17, PMGC entered a new $40 million equity purchase facility. The company received an initial tranche of about $10 million at closing. It may draw additional funds over a 24-month commitment period.
PMGC also closed the acquisition of A&B Aerospace on May 12, 2026. The California company serves Tier 1 customers, including Boeing, Honeywell, and Moog. A&B generated about $4.5 million in trailing revenue and remained cash-flow positive.
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