JMIA - Jumia Technologies AG reports Q2 results; updates FY23 Adjusted EBITDA guidance

2023-08-15 06:52:02 ET

• Jumia Technologies press release ( NYSE: JMIA ): Q2
• Revenue of $57.3M (+18.1% Y/Y).
• Adjusted EBITDA loss was $19.3 million compared to $57.2 million, decreasing by 66% year-over-year and 63% on a constant currency basis.
• As of June 30, 2023, we had a liquidity position of $166.3 million comprised of $61.0 million of cash and cash equivalents and $105.3 million of term deposits and other financial assets.
• Quarterly Active Consumers, Orders and GMV declined by 28%, 37% and 25% year-over-year respectively.
• Updates FY23 outlook: Considering the strong progress made on loss reduction in the first half of 2023, we are updating our Adjusted EBITDA loss guidance for the full year 2023. We expect Adjusted EBITDA loss of $90 million to $100 million compared to the previously communicated range of $100 million to $120 million. This implies a 52% to 57% year-over-year reduction in Adjusted EBITDA loss.

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