Pictured here: Cilo Cybin founder and CEO, Gabriel Theron (courtesy IOL)
Cilo Cybin released its final results for the year ending 31 March 2026 with a shock loss of over R240 million compared to a profit of R19,5 million reported in the previous financial year.
In a statement issued by the company on 7 September 2026 on SENS, the company reported the following key pointers:
Revenue: R28,8 million down from the previous year’s R35,4 million
Gross Profit: R9 million, down from the previous year of R25,8 million
Operating Activities: A loss of R241,1 million from a profit of R19,5 million in the previous period
Total Loss: R239,7 million compared to a profit of R20,1 million for the previous period;
Headline Earnings: Earnings per share dropped 1 111% to loss per share of 95,9 cents compared to the previous period’s profit of 9.49 cents.
Dividend per share: Nil dividend declared as per previous period
Cilo Cybin says the consolidated comparative numbers for 2025 were affected by IFRS (International Financial Reporting Standards) accounting principles that had to be applied by the pharmaceutical company’s reverse take-over of its main cannabis processing facility, Cilo Cybin Pharmaceuticals in September 2025.
The company said the complexity associated with the accounting treatment and disclosure requirements had led to a delay in the financial results being published.
“The Board wishes to assure shareholders that the delay is administrative and technical in nature and is not the result of any material issues identified in relation to the Company’s financial position.”
The SENS statement explains:
“In September 2025, Cilo Cybin concluded the acquisition of 100% of Cilo Cybin Pharmaceutical Proprietary Limited (“CCP”) for an aggregate purchase consideration of R845 million, settled through the issue of Cilo Cybin shares. The transaction resulted in CCP becoming a wholly owned subsidiary and provided Cilo Cybin with an operating pharmaceutical platform aligned with its strategy of expanding its presence in the medicinal cannabis and pharmaceutical sectors.”
“The acquisition was a reverse listing in terms of IFRS, resulting in CCP being deemed the accounting acquirer and the Company the accounting acquiree, since Cilo Cybin did not meet the definition of a ‘business’ in terms of IFRS 3.
Accordingly, any excess of the fair value of the shares issued by the accounting acquirer over the fair value of the accounting acquiree’s recognisable net assets was expensed, since the excess fair value represents a share-based payment made in exchange for obtaining a listing. This resulted in the group having to recognise a once-off IFRS 2 “
According to Deloittes, IFRS 2 requires an entity to recognise share-based payment transactions (such as granted shares, share options, or share appreciation rights) in its financial statements, including transactions with employees or other parties to be settled in cash, other assets, or equity instruments of the entity. Specific requirements are included for equity-settled and cash-settled share-based payment transactions, as well as those where the entity or supplier has a choice of cash or equity instruments.
Cilo Cybin has advised shareholders that its AGM will be held virtually on 7 October 2026.
Cilo Cybin Directors:
Executive
Gabriel Christiaan Theron (Chief Executive Officer)
Jessica Moodley Theron (Acting Chief Financial Officer)
Non-executive
Sakekile Baduza* (Lead Independent Director)
Dr Tham Seng Kong (Chairman)
Daktuk Mohd Razef Abdullah (Independent)
Hendrik Jacobus (Henk) Vivier (Independent)
Registered office
The registered office, which is also the principal place of business, is:
23 Sterling Road, Unit E4 The Point Office Park, Samrand, 0157
Centurion, Gauteng
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