JMIA - Jumia Technologies AG reports Q3 results; updates FY23 guidance

2023-11-15 06:52:15 ET

• Jumia Technologies AG press release ( NYSE: JMIA ): Q3 Revenue of $44.9M (-11.1% Y/Y).
• GMV of $181 million, down 25% year-over-year, and down 3% in constant currency.
• Adjusted EBITDA loss of $15 million compared to $46 million in the third quarter of 2022, down 67% year-over-year, and down 70% in constant currency.
• Liquidity position of $147 million marking a decrease of $19 million in the third quarter of 2023 compared to a decrease of $66.0 million in the third quarter of 2022.
• Net cash flows used in operating activities $24 million compared to $54 million in the third quarter of 2022, down 55% year-over-year.

• GUIDANCE:

  We remain committed to reducing our losses and accelerating our progress towards cash efficiency and profitable growth.

  Considering the strong progress made on loss reduction in the nine months ended September 30, 2023, we expect Adjusted EBITDA loss for 2023 of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. This implies a 57% to 61% year-over-year reduction in Adjusted EBITDA loss.

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