JMIA - Jumia Technologies shares slip on Q3 sales miss extended loss and ambiguous outlook

Jumia Technologies (JMIA -17.7%) reports Q3 sales miss despite Y/Y growth of ~9%. GMV increased 8.1% Y/Y to $238.1M; Orders up 28% Y/Y to 8.5M; Annual Active Consumers grew 8.1% Y/Y to 7.3M. Operating loss was $64M, up 93% Y/Y. The company is focused on accelerating usage growth on platform alongside the development JumiaPay and are investing in business to that effect. In the fourth quarter of 2021, it expects to increase investments in Sales and Advertising, Technology and staff costs expenses Y/Y. Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers said, "Our growth acceleration strategy initiated at the end of the second quarter of 2021 is starting to pay off. We are making investments in Sales & Advertising and Technology to further enhance consumer education, brand consideration as well as the relevance and convenience of our platform. We believe that these investments are long-term in nature and that accelerating growth will ultimately

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Jumia Technologies shares slip on Q3 sales miss, extended loss and ambiguous outlook