Jumia Reports Third Quarter 2024 Financial Results

Jumia Technologies AG has announced its financial results for the third quarter of 2024. The company reported a revenue of $36.4 million, marking a 13% decrease year-over-year but a 9% increase in constant currency. Gross merchandise volume (GMV) slightly declined by 1% to $162.9 million but showed a 29% growth in constant currency terms.

The operational loss increased to $20.1 million, up 10% from the previous year, while the adjusted EBITDA loss reached $17.0 million. Despite these figures, Jumia's liquidity position improved significantly with an increase to $164.6 million, largely due to proceeds from an August 2024 At-the-Market offering.

The company has ceased operations in South Africa and Tunisia to focus on markets with robust growth potential. Jumia aims to scale its logistics network and expand its supplier base as part of its strategic initiatives post-capital raise, while continuing disciplined cash management.