- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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