Why Are Jumia Shares Falling Today?

Jumia Technologies AG JMIA reported third-quarter FY21 revenue growth of 8.5% year-on-year, to $42.7 million, beating the consensus of $40.2 million.
Orders increased by 28% Y/Y to 8.5 million, and annual active consumers rose 8.1% to 7.3 million.
Total payment volume (TPV) increased 15.1% to $64.5 million. The gross merchandise value (GMV) rose 8.1% Y/Y to $238.1 million.
Gross profit declined 6% Y/Y to $25.5 million. The operating loss widened by 92.6% Y/Y to $(64) million.
The company held $583.6 million in cash and equivalents.
Adjusted EBITDA loss widened 94% Y/Y to $(52.5) million.
"Annual Active Consumers reached 7.3 million, up 8% year-over-year. As a result of the acceleration in consumers and orders, we are reaching an inflection point in the GMV trajectory leading to an increase in GMV of 8% year-over-year, reaching $238mm," commented co-CEOs Jeremy Hodara and Sacha Poignonnec.
Price action: JMIA shares are trading lower by 6.16% at $17.37 in the premarket session on the last check Tuesday.