Jumia Reports Great Earning - Shares rise
Jumia reported very strong earning today leading to a strong rally in share price on NYSE
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Jumia shares rose 31% today after the company reported Q1 earnings.
Here are the highlights:
- Revenue: +44% YoY to $47.6 million
- Orders: +40% YoY to 9.3 million
- Gross Merchandise Value (GMV): +27% YoY to $252.7 million
- Quarterly Active Customers: +29% YoY to 3.1 million
- JumiaPay Total Payment Value (TPV): +36.7% YoY to $70.7 million
Although investors are cheering these developments, growth comes at a cost. The company noted that it continues to spend heavily as part of its growth acceleration strategy.
Adjusted EBITDA loss was $55.3 million for the quarter, up 70% YoY, due to the company’s investments in the areas of sales/advertising and technology/content.
The company’s guidance outlines that it expects an adjusted EBITDA loss of $200 to $220 million for FY 2022, with YoY losses expected to begin decreasing in 2023.
You can read and download the entire Q1 Earning report here
Jumia went public in April 2019; IPO price was $14.50.
