Jumia Technologies Stock Falls As Q2 Revenue Misses Estimate

Jumia Technologies AG JMIA reported second-quarter FY21 revenue growth of 4.6% year-on-year, to $40.2 million, missing the analyst consensus of $42.34 million.
Orders increased by 12.8% Y/Y to 7.6 million, and annual active consumers rose 3.3% to 7 million.
Total payment volume (TPV) decreased 4% to $56.6 million. The gross merchandise value (GMV) declined 11% Y/Y to $223.5 million.
Gross profit rose 4.4% Y/Y to $26.8 million with a profit margin of 66.5%.
The operating loss widened to $(51.6) million.
The company held $637.7 million in cash and equivalents as of June 30, 2021.
Adjusted EBITDA loss widened 15.1% Y/Y to $(41.6) million.
"We are executing on our acceleration strategy to drive user growth on our platform and are encouraged to see early signs of success in our business, including posting our fastest growth rate in Orders in the past five quarters," said co-CEOs Jeremy Hodara and Sacha Poignonnec.
Jumia noted that the ongoing COVID-19 pandemic and the ensuing macroeconomic challenges result in substantial uncertainty concerning its operating environment and financial outlook.
Price action: JMIA shares are trading lower by 2.46% at $21.45 in premarket on the last check Tuesday.

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