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

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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