Jumia Clocks Over 7% Revenue Growth In Q4; Updates On CEO


  • Jumia Technologies AG JMIA reported fourth-quarter FY22 revenue growth of 7.1% year-on-year to $66.5 million.

  • Orders decreased by 12.2% Y/Y to 9.9 million, and active consumers declined 15% to 3.2 million.

  • Total payment volume (TPV) decreased by 18.4% to $73.9 million. The gross merchandise value (GMV) declined 14.2% Y/Y to $283.1 million.

  • Gross profit rose 21.9% Y/Y to $41 million. The operating loss improved to $(49.8) million.

  • The Berlin-based company held $72.1 million in cash and equivalents and used $(63.5) million in operating cash flow.

  • Adjusted EBITDA loss improved to $(49.2) million.

  • Jumia downsized its workforce by 900 employees or 20% of its strength in Q4, resulting in $3.7 million in one-off restructuring costs during the quarter. It helped save over 30% on monthly staff costs starting from March 2023.

  • CEO Update: Francis Dufay, previously appointed Acting CEO, has become the CEO of Jumia.

  • FY23 Outlook: Jumia expected adjusted EBITDA loss of $(100) million - $(120) million. 

  • Price Action: JMIA shares traded lower by 0.72% at $4.15 premarket on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceSmall CapManagementTop StoriesBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!