Jumia Technologies AG (NYSE:JMIA) reported earnings on Tue 7 May 24 (b/o)

 ** charts after earnings **

 

 

LAGOS, NIGERIA / ACCESSWIRE / May 7, 2024 / Jumia Technologies AG (NYSE:JMIA) ("Jumia" or the "Company") announced today its financial results for the first quarter ended March 31, 2024.

Results highlights for the first quarter 2024

• Revenue of $49 million, up 19% year-over-year, and up 57% in constant currency.
• GMV of $181 million, up 5% year-over-year, and up 39% in constant currency.
• Operating loss of $8 million compared to $28 million in the first quarter of 2023, down 71% year-over-year, and down 79% in constant currency.
• Adjusted EBITDA loss of $4 million as compared to a loss of $25 million in the first quarter of 2023, down 83% year-over-year, and down 94% in constant currency.
• Loss before Income tax from continuing operations in the first quarter of 2024, was up 36% year-over-year and up 12% in constant currency largely driven by a $11 million increase in net foreign exchange losses, mostly without a cash impact, as a result of currency devaluations in Nigeria and Egypt and an increase in finance costs related to Jumia's treasury and investment portfolio management activities.
• Liquidity position of $101 million, a decrease of $19 million in the first quarter of 2024 as compared to a decrease of $22 million in the first quarter of 2023.
• Net cash flows from operating activities of $4 million as compared to net cash flows used in operating activities of $19 million in the first quarter of 2023.