Jumia Registers 18% Revenue Growth In Q3; Suspends FY22 GMV Guidance

Jumia Technologies AG JMIA reported third-quarter FY22 revenue growth of 18.4% year-on-year to $50.5 million, missing the consensus of $57.3 million.
Orders increased by 10.8% Y/Y to 9.4 million, and active consumers rose 3.5% to 3.1 million.
Total payment volume (TPV) increased by 3.3% to $66.6 million. The gross merchandise value (GMV) rose 1.1% Y/Y to $240.7 million.
Also Read: Jumia Technologies Begins Search For Permanent CEO As Co-CEO's Step Down
Gross profit rose 29.2% Y/Y to $33 million. The operating loss improved to $(43.2) million.
The company held $104.3 million in cash and equivalents and used $(53.7) million in operating cash flow.
Adjusted EBITDA loss improved to $(45.5) million.
Outlook: Citing a highly volatile and unpredictable macro environment, JMIA suspended FY22 GMV growth guidance and Gross Profit guidance for the second half of 2022 provided earlier this year.
Jumia reiterated FY22 adjusted EBITDA loss forecast of $(200) million - $(220) million.
Jumia sees Q4 Adjusted EBITDA loss of $(42) million - $(62) million.
For the full year of 2023, it expects adjusted EBITDA loss to be lower than 2022.
Price Action: JMIA shares traded higher by 5.02% at $4.97 on the last check Thursday.

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