Jumia Technologies AG【JMIA】株式ニュース

Jumia Reports First Quarter 2026 ResultsMay 7, 2026 7:00 AM
ACCESS NewswireJumia Reports 32%[1] GMV Growth and 39% Revenue Increase; Adjusted EBITDA Loss Narrowed 32%, Reflecting Continued Progress Toward Profitability; Jumia Reaffirms 2026 Guidance LAGOS, NIGERIA / ACCESS Newswire / May 7, 2026 / Jumia Technologies AG (NYSE:JMIA) ("Jumia" or the "Company") announced today its financial results for the first quarter ended March 31, 2026.Financial highlights for the first quarter 2026Revenue of $50.6 million compared to $36.3 million in the first quarter of 2025, up 39% year-over-year, and up 28% in constant currency.GMV of $211.2 million compared to $161.7 million in the first quarter of 2025, up 31% year-over-year, and up 18% in constant currency. Adjusted for perimeter effects, GMV grew 32% year-over-year.Operating loss of $13.9 million compared to $18.7 million in the first quarter of 2025, down 26% year-over-year and down 25% in constant currency.Adjusted EBITDA loss of $10.7 million compared to $15.7 million in the first quarter of 2025, down 32% year-over-year, and down 31% in constant currency.Loss before Income tax of $17.8 million compared to $16.5 million in the first quarter of 2025, up 8% year-over-year, and down 21% in constant currency.Liquidity position of $62.6 million, a decrease of $15.3 million in the first quarter of 2026, compared to a decrease of $23.2 million in the first quarter of 2025.Net cash flow used in operating activities of $12.5 million compared to net cash flow used in operating activities of $21.2 million in the first quarter of 2025 and due to favorable year-end seasonality, $1.7 million used in the fourth quarter of 2025. The result includes a broadly neutral working capital[2] contribution, compared to a negative working capital contribution of $7.1 million in the first quarter of 2025.Business highlights for the first quarter 2026Unless otherwise stated, all reported KPIs are for physical goods and exclude results from Algeria, which was exited in early 2026.Orders grew 31% year-over-year, reflecting disciplined execution and resilient consumer demand across key categories.Quarterly Active Customers grew by 26% year-over-year, demonstrating strong customer engagement and improving retention.GMV increased 33% year-over-year, driven by strong supply and effective execution.Nigeria delivered standout performance, with GMV up 42% year-over-year.Gross items sold from international sellers grew 87% year-over-year in the first quarter of 2026, reflecting the continued scaling of our Chinese seller base, as well as growing volumes from our supply base for affordable fashion in Turkey.[1] Adjusted for perimeter effects
[2] Working capital comprises movements in: (i) trade and other receivables, prepaid expenses and other tax receivables; (ii) inventories; and (iii) trade and other payables, deferred income and other tax payables.Company Commentary"Our first quarter results demonstrate that the operating leverage we have been building is translating into our financials. GMV and physical goods Orders, each adjusted for perimeter effects, grew 32% and 31%, respectively, year-over-year, and our Adjusted EBITDA loss narrowed by 32% to $10.7 million as higher volumes result in structurally better economics across our platform. Gross profit grew 48% year-over-year, reflecting our continued progress in marketplace monetization.At the start of 2026, we committed to scaling usage across our existing markets, deepening customer engagement, and unlocking operating leverage while continuing to improve availability, affordability, and reliability for our customers. Our first quarter results reflect early and tangible delivery for each of these priorities. Growth was broad-based across our markets. Nigeria delivered an exceptional quarter with physical goods GMV up 42% year-over-year, Egypt confirmed its recovery, with physical goods GMV up 3%, or 56% excluding corporate sales, year-over-year.We continue to monitor the dynamic macro environment and manage our business accordingly. We believe that we have the right business fundamentals to navigate current uncertainties and that the opportunity for Jumia remains strong. We are executing with discipline and these results keep us firmly on track toward our target of achieving Adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026, and full-year profitability and positive cash flow in 2027." - Francis Dufay, CEOInternational EnvironmentWe are navigating an international environment that is evolving quickly, with two principal developments having the potential to affect our business. First, increases in memory chip and CPU prices have raised the prices of certain products, including phones, and have caused reorganizations in supply chains and inventories. This is impacting our business at least in the near term. We are mitigating this by diversifying our supplier base for smartphones and scaling our marketplace across both local and international sellers. Second, the war in the Middle East has led to logistics and supply chain disruptions, as well as rising fuel costs. We have seen limited impact in the first quarter of 2026, but expect greater pressure in the second quarter of 2026 if conditions persist. This exposure is partially mitigated by reductions in our reliance on fuel-intensive delivery through the increased use of pick-up stations. While we are currently navigating an uncertain international environment, we believe that our business fundamentals, which were rebuilt from 2022 to 2025, mostly in tougher times than this, are strong. We do expect some temporary disruption, but this does not change our mid-term profitability targets or our belief in Jumia's long-term opportunity for growth.SELECTED FINANCIAL INFORMATIONFinancial Results for the first quarter ended March 31, 2026 For the three months ended As reported YoY Change Constant currencyMarch 31, 2026 YoY Change In USD million, unless otherwise stated March 31, 2025 March 31, 2026 Revenue 36.3 50.6 39% 46.3 28%Gross Profit 19.9 29.4 48% 26.6 33%Fulfillment expense (9.4) (12.2) 29% (11.0) 17%Sales and Advertising expense (3.1) (5.1) 64% (4.8) 54%Technology and Content expense (9.6) (8.9) (8)% (8.7) (10)%G&A expense, excluding SBC(1) (16.1) (16.8) 4% (15.7) (3)%Adjusted EBITDA(1) (15.7) (10.7) (32)% (10.9) (31)%Operating Income / (Loss) (18.7) (13.9) (26)% (13.9) (25)%Loss before Income tax(2) (16.5) (17.8) 8% (14.7) (21)%(1) See "Non-IFRS Financial and Operating Metrics" for a reconciliation of non-IFRS measures to IFRS measures.
(2) Loss before Income tax in constant currency, and the corresponding year-over-year change, exclude the impact of foreign exchange gains/(losses) recorded in finance income/costs. Net foreign exchange gains/(losses) in reported currency were $2.1 million in the first quarter of 2025 and $(3.5) million in the first quarter of 2026.RevenueRevenue[3] of $50.6 million, up 39% year-over-year or up 28% year-over-year on a constant currency basis.Marketplace revenue, comprised of third-party sales, marketing and advertising revenue, and value-added services, was $27.0 million, up 50% year-over-year or up 35% year-over-year on a constant currency basis.Third-party sales revenue was $23.2 million, up 45% year-over-year or up 31% year-over-year on a constant currency basis. Year-over-year growth was driven by strong execution in our marketplace business and supported by rising customer usage.Marketing and advertising revenue was $2.2 million, up 44% year-over-year or up 31% year-over-year on a constant currency basis, driven by growth in sponsored products following the launch of our new retail advertising platform. With advertising revenue at 1% of GMV, we see substantial upside potential.Value-added services revenue was $1.7 million in the first quarter of 2026, compared to $0.6 million in the first quarter of 2025, driven by growth in warehousing fees, reflecting higher volumes flowing through our storage infrastructure and improved monetization of our warehousing services.First-party sales revenue was $23.1 million, up 30% year-over-year or up 21% year-over-year on a constant currency basis, reflecting strong demand and continued momentum with key international brands.Gross ProfitGross profit was $29.4 million, up 48% year-over-year or up 33% year-over-year on a constant currency basis.Gross profit as a percentage of GMV was 13.9% in the first quarter of 2026, compared to 12.3% in the first quarter of 2025.ExpensesFulfillment expense was $12.2 million, up 29% year-over-year or up 17% year-over-year on a constant currency basis, primarily due to higher volumes.Fulfillment expense per Order, excluding JumiaPay App Orders, which do not incur logistics costs, was $2.06, flat year-over-year or down 10% year-over-year on a constant currency basis.The improvement reflects productivity gains and economies of scale in fulfillment operations, automation in call centers, and improved rates with logistics partners.Sales and Advertising expense totaled $5.1 million, up 64% year-over-year, or up 54% year-over-year on a constant currency basis. The increase reflects higher marketing investments to support customer acquisition and engagement, while maintaining efficiency through targeted and performance-driven campaigns.Technology and Content expense totaled $8.9 million, down 8% year-over-year, or down 10% year-over-year on a constant currency basis. The decrease was driven by ongoing headcount optimization and savings from recently renegotiated contracts.General and Administrative expense was $18.0 million, up 4% year-over-year, or down 2% year-over-year on a constant currency basis.General and Administrative expense, excluding share-based compensation expense, was $16.8 million, up 4% year-over-year, or down 3% year-over-year on a constant currency basis.Staff costs within General and Administrative expense, excluding share-based compensation expense, increased by 16% year-over-year, driven by approximately $0.8 million in one-time termination benefits related to our Algeria exit and the appreciation of local currencies against the US dollar compared to the first quarter of 2025.We continue to streamline the organization. The total headcount has declined by 8% since December 31, 2024, with just over 1,980 employees on payroll as of March 31, 2026. At the end of the fourth quarter of 2022, when current leadership was installed, we had 4,318 employees. We are actively working to further reduce headcount, continue process automation and leverage AI tools. We expect to reduce by at least an additional 200 full-time employees over the next two quarters.AI-driven automation across each of our operations, finance, headcount efficiency, support functions, and technology teams - including in relation to cybersecurity and code quality workflows - enabled a reduction in our headcount and contributed to improved operational leverage in the first quarter of 2026. Artificial intelligence is also helping us solve operational problems on the ground, including in logistics, customer service, and seller management, improving the quality of the service we offer, while reducing costs.Loss before Income taxOperating loss was $13.9 million in the first quarter of 2026, compared to $18.7 million in the first quarter of 2025. The year-over-year improvement primarily reflects higher revenue and gross profit, partially offset by higher operating expenses.Adjusted EBITDA loss, which excludes depreciation, amortization and share-based compensation expense, declined to $10.7 million in the first quarter of 2026, compared to $15.7 million in the first quarter of 2025, consistent with the improvement in operating performance. Excluding the one-time costs related to our Algeria exit, Adjusted EBITDA loss would have been $9.7 million, reflecting the underlying improvement of 38% year-over-year, in our core business.Loss before Income tax was $17.8 million in the first quarter of 2026, compared to $16.5 million in the first quarter of 2025, primarily reflecting non-cash foreign exchange losses.In constant currency, Loss before Income tax, excluding the impact of foreign exchange recorded in finance income and finance costs, was $14.7 million, down 21% year-over-year.Cash PositionAs of March 31, 2026, the Company's liquidity position was $62.6 million, comprised of $61.5 million in cash and cash equivalents and $1.1 million in term deposits and other financial assets.Jumia's liquidity position decreased by $15.3 million in the first quarter of 2026, compared to a decrease of $23.2 million in the first quarter of 2025, and a decrease of $4.7 million in the fourth quarter of 2025. The shift from the previous quarter is consistent with typical seasonal dynamics.Net cash used in operating activities was $12.5 million in the first quarter of 2026, compared to a net cash used of $21.2 million in the first quarter of 2025 and $1.7 million used in the fourth quarter of 2025. The result includes a broadly neutral working capital contribution in the first quarter of 2026, compared to a negative working capital contribution of $7.1 million in the first quarter of 2025. The improvement primarily reflects the continued strengthening of our marketplace flywheel, with higher volumes and better payment flows, as well as improved bargaining power with large third-party accounts.[3] In addition to marketplace revenue and first-party sales, revenue included other revenue of $0.4 million in the first quarter of 2025 and $0.4 million in the first quarter of 2026.SELECTED OPERATIONAL KPIsMarketplace KPIs For the three months ended
As Reported YoYChange
March 31, 2025 March 31, 2026 Quarterly Active Customers (million) 2.1 2.5 24%Quarterly Active Customers (million) adjusted for perimeter effects(1) 2.0 2.5 25%Orders Physical Goods (million) 4.5 5.9 30%Orders Physical Goods (million) adjusted for perimeter effects(1) 4.5 5.9 31%Orders JumiaPay App (million) 0.6 - (99)%Orders JumiaPay App (million) adjusted for perimeter effects(1) 0.6 - (99)%
For the three months ended
As Reported YoYChange Constant currency YoYChange March 31, 2025 March 31, 2026 March 31, 2026 GMV (USD million) 161.7 211.2 31% 191.5 18%GMV (USD million) adjusted for perimeter effects(1) 158.1 209.2 32% 189.6 20%(1) Adjustments for perimeter effects relate to the exit from Algeria. As of the first quarter of 2026, we have revised our perimeter effects adjustments to exclude Algeria following our exit, and we have recast comparative prior period amounts accordingly.Note: Effective as of the first quarter of the fiscal year 2026, Jumia has discontinued its quarterly disclosure of the KPIs "Total Payment Volume (TPV)" and "Jumia Payment Gateways Transactions". See "Selected Operational KPIs-TPV and Jumia Payment Gateways Transactions Reporting" for further details.GMV increased by 31% year-over-year to $211.2 million and physical goods Orders grew by 30% year-over-year to 5.9 million. Adjusted for perimeter effects, GMV and physical goods Orders grew by 32% and 31% year-over-year, respectively.The increase in GMV was driven by robust consumer demand.Order growth reflects continued improvement in product assortment and a stronger customer value proposition in physical goods.In line with our strategic focus on scaling physical goods, we have reduced our emphasis on digital products sold through our JumiaPay App, that contribute to order volumes with limited revenue impact. While this shift influenced total order metrics for the quarter, physical goods Orders growth remained robust.Our strategy to expand into secondary cities continues to deliver results. Adjusted for perimeter effects, Orders from upcountry regions represented 62% of total Orders in the first quarter of 2026, up from 58% in the prior-year period.Jumia continues to deploy marketing with a focus on efficiency and ROI, focusing investment on efficient channels to support customer acquisition, engagement, and repeat behavior. These include paid online marketing, customer relationship management ("CRM"), search engine optimization ("SEO"), and relevant offline local channels (e.g. radio and print) while also leveraging its JForce agent network.As a result of these efforts and adjusted for perimeter effects, Jumia is attracting what it believes to be a stickier and higher quality customer base as evidenced by a 185 basis point year-over-year improvement in repurchase rates.[4]Jumia's cohort analysis indicates that 47% of new customers, who placed their first order in the fourth quarter of 2025, made a second purchase within 90 days, compared to 45% of new customers in the fourth quarter of 2024.TPV and Jumia Payment Gateways Transactions ReportingEffective as of the first quarter of 2026, Jumia has discontinued its quarterly disclosure of the KPIs "Total Payment Volume (TPV)" and "Jumia Payment Gateways Transactions". Since 2023, Jumia has been shifting its strategic focus towards physical goods. Following this strategic shift and the discontinuation of the standalone JumiaPay App in 2025 (except in Egypt where it remained live to manage certain legacy payment partnerships), these metrics are no longer among the primary indicators used by management to assess Jumia's operating performance.[4] Adjusted for perimeter effects to exclude South Africa, Tunisia and Algeria. As of the first quarter of 2026, we have revised our perimeter effects adjustments to exclude Algeria following our exit, and we have recast comparative prior period amounts accordingly.GUIDANCEJumia remains committed to delivering profitable growth in 2026 by scaling usage, improving operational efficiency, and continuing to reduce cash burn. We are navigating an evolving international environment. While we expect some temporary disruption from memory chip and CPU price pressures and the ongoing conflict in the Middle East, our business fundamentals are strong, our Q1 2026 results demonstrate continued execution, and we have not changed our mid-term profitability targets or our belief in Jumia's long-term opportunity for growth. Based on current business trends, we reaffirm our full-year 2026 guidance as follows:GMV is projected to grow between 27% and 32% year-over-year, adjusted for perimeter effects.We forecast Adjusted EBITDA loss to be between $25 million and $30 million.We confirm our strategic goal to achieve breakeven on an Adjusted EBITDA basis and positive cash flow in the fourth quarter of 2026, and delivering full-year profitability and positive cash flow in 2027.Second quarter 2026:GMV is projected to grow between 27% and 32% year-over-year, adjusted for perimeter effects.The above forward-looking statements reflect Jumia's expectations and strategic goals as of May 7, 2026, are subject to change, and involve inherent risks, which are partially or fully beyond its control. These risks include but are not limited to political and economic conditions across countries where it operates, the broader economic impact of the ongoing regional conflicts, and global supply chain issues.CONFERENCE CALL AND WEBCAST INFORMATIONJumia will host a conference call to discuss its first quarter 2026 results at 8:30 AM ET on May 7, 2026.Interested parties can access the conference at:
US Dial-in (Toll Free): 888-506-0062
International Dial-in: 973-528-0011
Entry Code: 642806The live call will also be available via webcast on Jumia's Investor Relations Website: https://investor.jumia.com/investor-relations/default.aspx.A replay of the call will be available until Thursday, May 21, 2026 and can be accessed by dialing 877-481-4010 for toll free access or 919-882-2331 for international access using the replay passcode: 53941.(UNAUDITED)
Consolidated statement of comprehensive income as of March 31, 2025 and 2026 For the three months ended In thousands of USD March 31, 2025 March 31, 2026 Revenue 36,261 50,562 Cost of revenue (16,360) (21,162)Gross profit 19,901 29,400 Fulfillment expense (9,401) (12,152)Sales and advertising expense (3,102) (5,078)Technology and content expense (9,645) (8,884)General and administrative expense (17,189) (17,952)Other operating income 802 1,035 Other operating expense (22) (241)Operating loss (18,656) (13,872)Finance income 3,356 462 Finance costs (1,186) (4,409)Loss before Income tax (16,486) (17,819)Income tax benefit / (expense) (221) 92 Loss for the period (16,707) (17,727)Attributable to: Equity holders of the Company (16,710) (17,730)Non-controlling interests 3 3 Loss for the period (16,707) (17,727)Other comprehensive income / (loss) to be classified to profit or loss in subsequent periods Exchange differences gain on translation of foreign operations (22,903) 5,094 Other comprehensive loss on net investment in foreign operations 20,315 (1,908)Other comprehensive income on financial assets at fair value through OCI 196 - Other comprehensive income / (loss) (2,392) 3,186 Total comprehensive loss for the period (19,099) (14,541)Attributable to: Equity holders of the Company (19,085) (14,544)Non-controlling interests (14) 3 Total comprehensive loss for the period (19,099) (14,541)(UNAUDITED)
Consolidated statement of financial position as of December 31, 2025 and March 31, 2026 As of In thousands of USD December 31,
2025 March 31,
2026 Assets Non-current assets Property and equipment 19,163 16,671 Deferred tax assets 326 320 Other non-current assets 1,278 1,067 Total Non-current assets 20,767 18,058 Current assets Inventories 10,098 8,431 Trade and other receivables 13,888 10,566 Income tax receivables 3,153 2,677 Other taxes receivable 3,746 3,532 Prepaid expenses 4,067 6,149 Term deposits and other financial assets 1,162 1,104 Cash and cash equivalents 76,670 61,463 Total Current assets 112,784 93,922 Total Assets 133,551 111,980 Equity and Liabilities Equity Share capital 286,156 286,156 Share premium 1,792,181 1,792,181 Other reserves 178,520 183,061 Accumulated losses (2,230,584) (2,248,326)Equity attributable to the equity holders of the Company 26,273 13,072 Non-controlling interests (539) (527)Total Equity 25,734 12,545 Liabilities Non-current liabilities Non-current borrowings 7,929 6,673 Trade and other payables 6 23 Deferred tax liabilities 126 86 Provisions for liabilities and other charges 721 759 Total Non-current liabilities 8,782 7,541 Current liabilities Current borrowings 3,793 2,992 Trade and other payables 57,954 56,401 Income tax payables 12,456 11,000 Other taxes payable 11,478 10,376 Provisions for liabilities and other charges 8,522 7,679 Deferred income 4,832 3,446 Total Current liabilities 99,035 91,894 Total Liabilities 107,817 99,435 Total Equity and Liabilities 133,551 111,980 (UNAUDITED)
Consolidated statement of cash flows as of March 31, 2025 and 2026 For the three months ended In thousands of USD March 31,
2025 March 31,
2026 Loss before Income tax (16,486) (17,819)Depreciation and amortization of tangible and intangible assets 1,864 2,117 Impairment losses on loans, receivables and other assets 214 238 Impairment losses/(reversals) on obsolete inventories 309 45 Share-based compensation expense 1,062 1,127 Net (gain)/loss from disposal of tangible and intangible assets 17 - Change in provision for other liabilities and charges 425 (627)Lease modification (income)/expense (6) 23 Interest (income)/expense (154) 470 Discounting effect (income)/expense 87 - Net foreign exchange (gain)/loss (325) 3,725 Share-based compensation expense - settlement (136) (329)(Increase)/Decrease in trade and other receivables, prepaid expenses and other tax receivables (296) 957 (Increase)/Decrease in inventories (4,585) 1,423 Increase/(Decrease) in trade and other payables, deferred income and other tax payables (2,250) (2,375)Income taxes (paid)/received (915) (1,432)Net cash flows (used in) / from operating activities (21,175) (12,457)Cash flows from investing activities Purchase of property and equipment (871) (601)Interest or other charges received 510 205 Movement in other non-current assets (124) 61 Movement in term deposits and other financial assets 30,239 149 Net cash flows (used in) / from investing activities 29,754 (186)Cash flows from financing activities Payment of lease interest (520) (541)Repayment of lease liabilities (584) (1,073)Net cash flows (used in) / from financing activities (1,104) (1,614)Net (decrease)/increase in cash and cash equivalents 7,475 (14,257)Effect of exchange rate changes on cash and cash equivalents (1,191) (950)Cash and cash equivalents at the beginning of the period 55,360 76,670 Cash and cash equivalents at the end of the period 61,644 61,463 Forward Looking StatementsThis release includes forward-looking statements. All statements other than statements of historical facts contained in this release, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "believes," "estimates", "potential" or "continue" or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement, including, without limitation, the risks described under Item 3. "Key Information-D. Risk Factors," in our Annual Report on Form 20-F as filed with the US Securities and Exchange Commission for the year ended December 31, 2025. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Considering these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements.The forward-looking statements included in this release are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor our advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Neither we nor our advisors undertake any obligation to update any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations, except as may be required by law. You should read this release with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect.Non-IFRS Financial and Operating MetricsChanges, percentages, ratios and aggregate amounts presented have been calculated on the basis of unrounded figures.This release includes certain financial measures and metrics not based on IFRS, including Adjusted EBITDA, as well as operating metrics, including Annual Active Customers, Quarterly Active Customers, Orders and GMV.We define Annual Active Customers, Quarterly Active Customers, Orders, GMV, General and administrative expense, excluding SBC, and Adjusted EBITDA as follows:Annual Active Customers means unique customers who placed an order for a product or a service on our platform, within the 12-month period preceding the relevant date, irrespective of cancellations or returns.Quarterly Active Customers means unique customers who placed an order for a product or a service on our platform, within the 3-month period preceding the relevant date, irrespective of cancellations or returns.We believe that Annual Active Customers and Quarterly Active Customers are useful indicators of the adoption of our offering by customers in our markets.Orders corresponds to the total number of orders for products and services on our platform, irrespective of cancellations or returns, for the relevant period.We believe that the number of orders is a useful indicator to measure the total usage of our platform, irrespective of the monetary value of the individual transactions.Gross Merchandise Value ("GMV") corresponds to the total value of orders for products and services, including shipping fees, value-added tax, and before deductions of any discounts or vouchers, irrespective of cancellations or returns for the relevant period. We believe that GMV is a useful indicator for the usage of our platform that is not influenced by shifts in our sales between first-party and third-party sales or the method of payment.We use Quarterly Active Customers, Orders and GMV as some of many indicators to monitor usage of our platform.General and administrative expense, excluding SBC, corresponds to the General & Administrative ("G&A") expense excluding share-based compensation expense ("SBC"). We use this metric to measure the development of our G&A costs exclusive of the impact of SBC which is mainly a non-cash expense, influenced, in part, by share price fluctuations.Adjusted EBITDA corresponds to loss for the period, adjusted for income tax expense (benefit), finance income, finance costs, depreciation and amortization and further adjusted for share-based compensation expense.Adjusted EBITDA is a supplemental non-IFRS measure of our operating performance that is not required by, or presented in accordance with, IFRS. Adjusted EBITDA is not a measurement of our financial performance under IFRS and should not be considered as an alternative to Loss for the period, Loss before Income tax or any other performance measure derived in accordance with IFRS. We caution investors that amounts presented in accordance with our definition of Adjusted EBITDA may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate Adjusted EBITDA in the same manner. We present Adjusted EBITDA because we consider it to be an important supplemental measure of our operating performance. Management believes that investors' understanding of our performance is enhanced by including non-IFRS financial measures as a reasonable basis for comparing our ongoing results of operations. By providing this non-IFRS financial measure, together with a reconciliation to the nearest IFRS financial measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives.Management uses Adjusted EBITDA:as a measurement of operating performance because it assists us in comparing our operating performance on a consistent basis, as it removes the impact of items not directly resulting from our core operations;for planning purposes, including the preparation of our internal annual operating budget and financial projections;to evaluate the performance and effectiveness of our strategic initiatives; andto evaluate our capacity to expand our business.Items excluded from this non-IFRS measure are significant components in understanding and assessing financial performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitute for analysis of our results reported in accordance with IFRS, including loss for the period. Some of the limitations are:Adjusted EBITDA does not reflect our share-based compensation, income tax expense (benefit) or the amounts necessary to pay our taxes;although depreciation and amortization are eliminated in the calculation of Adjusted EBITDA, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any costs for such replacements; andother companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to us to invest in the growth of our business. We compensate for these and other limitations by providing a reconciliation of Adjusted EBITDA to the most directly comparable IFRS financial measure, loss for the period.The following table provides a reconciliation of loss for the period to Adjusted EBITDA for the periods indicated: For the three months ended (USD million) March 31, 2025 March 31, 2026 Loss for the period (16.7) (17.7)Income tax benefit / (expense) 0.2 (0.1)Net Finance costs / (income) (2.2) 3.9 Depreciation and amortization 1.9 2.1 Share-based compensation expense 1.1 1.1 Adjusted EBITDA (15.7) (10.7)Constant currency dataCertain metrics have also been presented on a constant currency basis. We use constant currency information to provide us with a picture of underlying business dynamics, excluding currency effects.Constant currency metrics are calculated using the average foreign exchange rates for each month during 2025 and applying them to the corresponding months in 2026, so as to calculate what our results would have been had exchange rates remained stable from one year to the next. These calculations do not include any other macroeconomic effect such as local currency inflation effects or any price adjustment to compensate local currency inflation or devaluations. Constant currency information is not a measure calculated in accordance with IFRS. While we believe that constant currency information may be useful to investors in understanding and evaluating our results of operations in the same manner as our management, our use of constant currency metrics has limitations as an analytical tool, and you should not consider it in isolation, or as an alternative to, or a substitute for analysis of our financial results as reported under IFRS. Further, other companies, including companies in our industry, may report the impact of fluctuations in foreign currency exchange rates differently, which may reduce the value of our constant currency information as a comparative measure.The following table sets forth the constant currency data for selected metrics:
For the three months ended
As reported YoY Change Constant currency YoY Change In USD million, except percentages March 31, 2025 March 31, 2026 March 31, 2026 Revenue 36.3 50.6 39% 46.3 28%Marketplace revenue 18.1 27.0 50% 24.3 35%Third-party sales 16.0 23.2 45% 20.9 31%Value-added services 0.6 1.7 nm 1.5 nm Marketing and advertising 1.5 2.2 44% 2.0 31%First-party sales 17.8 23.1 30% 21.6 21%Other revenue 0.4 0.4 6% 0.4 (2)%Gross Profit 19.9 29.4 48% 26.6 33%Fulfillment expense (9.4) (12.2) 29% (11.0) 17%Sales and Advertising expense (3.1) (5.1) 64% (4.8) 54%Technology and Content expense (9.6) (8.9) (8)% (8.7) (10)%G&A expense, excluding SBC (16.1) (16.8) 4% (15.7) (3)%Adjusted EBITDA (15.7) (10.7) (32)% (10.9) (31)%Operating Income / (Loss) (18.7) (13.9) (26)% (13.9) (25)%Loss before Income tax(1) (16.5) (17.8) 8% (14.7) (21)% GMV 161.7 211.2 31% 191.5 18%(1) Loss before Income tax in constant currency, and the corresponding year-over-year change, exclude the impact of foreign exchange recorded in finance income/costs. Net foreign exchange gains/(losses) in reported currency were $2.1 million in the first quarter of 2025 and $(3.5) million in the first quarter of 2026.Note: Effective as of the first quarter of the fiscal year 2026, Jumia has discontinued its quarterly disclosure of the KPI "Total Payment Volume (TPV)". See "Selected Operational KPIs-TPV and Jumia Payment Gateways Transactions Reporting" for further details.SOURCE: Jumia Technologies AGView the original press release on ACCESS NewswireOriginal: Jumia Reports First Quarter 2026 Results

Jumia Reports Fourth Quarter and Full Year 2025 ResultsFebruary 10, 2026 7:00 AM
ACCESS NewswireJumia Reports Accelerating Momentum With 36% GMV Growth and Reduced Cash Burn; Expects Continued Strong Growth in 2026 and on track for Q4 2026 BreakevenLAGOS, NIGERIA / ACCESS Newswire / February 10, 2026 / Jumia Technologies AG (NYSE:JMIA) ("Jumia" or the "Company") announced today its financial results for the fourth quarter ended December 31, 2025.Financial highlights for the fourth quarter 2025Revenue of $61.4 million compared to $45.7 million in the fourth quarter of 2024, up 34% year-over-year, and up 24% in constant currency.GMV of $279.5 million compared to $206.1 million in the fourth quarter of 2024, up 36% year-over-year, and up 23% in constant currency. Excluding South Africa and Tunisia, physical goods GMV grew 38% year-over-year.Operating loss of $10.6 million compared to $17.3 million in the fourth quarter of 2024, down 39% year-over-year, and down 22% in constant currency.Adjusted EBITDA loss of $7.3 million compared to $13.7 million in the fourth quarter of 2024, down 47% year-over-year, and down 25% in constant currency.Loss before Income tax of $9.7 million compared to $17.6 million in the fourth quarter of 2024, down 45% year-over-year, and down 17% in constant currency.Liquidity position of $77.8 million, a decrease of $4.7 million in the fourth quarter of 2025, compared to a decrease of $30.6 million in the fourth quarter of 2024.Net cash flow used in operating activities of $1.7 million compared to net cash flow used in operating activities of $26.5 million in the fourth quarter of 2024 and $12.4 million used in the third quarter of 2025. The result includes a positive working capital[1] contribution of $9.6 million.Financial highlights for the full year 2025Revenue of $188.9 million, compared to $167.5 million in 2024, up 13% year-over-year, or up 11% in constant currency.GMV of $818.6 million, compared to $720.6 million in 2024, up 14% year-over-year, or up 11% in constant currency, representing growth acceleration throughout the year.Operating loss of $63.2 million, compared to a loss of $66.0 million in 2024, down 4% year-over-year, or up 1% in constant currency, driven by strong usage growth partially offset by reduced corporate sales.Adjusted EBITDA loss of $50.5 million compared to $51.3 million in 2024, down 2% year-over-year, or up 5% in constant currency, consistent with operating performance.Loss before Income tax of $60.1 million compared to $97.6 million in 2024, down 38% year-over-year, or down 18% in constant currency, driven by lower finance costs, which were previously elevated due to higher corporate sales, alongside improved operating performance.Liquidity position of $77.8 million marking a decrease of $56.1 million in 2025 compared to an increase of $13.4 million in 2024, which included $94.7 million of net proceeds from the August 2024 at-the-market (ATM) offering.Net cash flows used in operating activities of $47.9 million compared to $57.2 million in 2024, reflecting improved performance.Business highlights for the fourth quarter 2025Unless otherwise stated, all reported KPIs are for physical goods and exclude results from South Africa and Tunisia, which were exited in late 2024.Orders grew 32% year-over-year, reflecting disciplined execution and resilient consumer demand across key categories.Quarterly Active Customers ordering physical goods grew by 26% year-over-year, demonstrating strong customer engagement and improving retention.GMV increased 38% year-over-year, driven by strong supply and effective execution, partially offset by lower corporate sales in Egypt, as we deprioritize this segment.Nigeria delivered standout performance, with Orders up 33% and GMV up 50% year-over-year.Gross items sold from international sellers grew 82% year-over-year in the fourth quarter of 2025, driven by expanded direct sourcing capabilities, which we further strengthened with the opening of our new Yiwu, China office.Company Commentary"We closed 2025 with clear momentum across the platform, delivering strong GMV and revenue growth, improving customer engagement, and continued progress on our path to profitability. Demand strengthened as the quarter progressed, driven by disciplined execution across our markets and, ongoing enhancements to our value proposition and customer experience, resulting in a successful Black Friday campaign. In the fourth quarter of 2025, we also meaningfully reduced cash burn, reflecting improving operating leverage as volumes scale and better working capital management.In 2026, we'll focus on scaling usage across our existing markets and deepening customer engagement by continuing to improve availability, affordability, and reliability. A more stable macro environment and local currencies provide a supportive backdrop for both consumers and vendors. We remain focused on unlocking operating leverage, optimizing our cost structure and refining our market footprint. Our priority is driving usage growth in our core markets with the objective of achieving Adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026, and delivering full-year profitability and positive cash flow in 2027." -Francis Dufay, CEO SELECTED FINANCIAL INFORMATIONFinancial Results for the fourth quarter ended December 31, 2025
For the three months ended For the year ended December As reported Constant currency As reported Constant currency In USD million, unless otherwise stated December 31, 2024 December 31, 2025 YoY
Change December 31, 2025 YoY
Change December 31, 2024 December 31, 2025 YoYChange December 31, 2025 YoYChange Revenue 45.7 61.4 34% 56.5 24% 167.5 188.9 13% 185.6 11%Gross Profit 23.9 34.2 43% 31.3 31% 99.5 101.8 2% 98.3 (1)%Fulfillment expense (12.9) (14.8) 15% (13.6) 5% (41.9) (45.5) 8% (44.0) 5%Sales and Advertising expense (4.8) (7.0) 47% (6.6) 39% (17.3) (19.4) 12% (19.4) 12%Technology and Content expense (10.0) (9.4) (6)% (9.2) (8)% (37.5) (37.0) (1)% (36.7) (2)%G&A expense, excluding SBC (1) (12.9) (13.0) 1% (12.5) (3)% (63.4) (61.4) (3)% (60.7) (4)%Adjusted EBITDA (1) (13.7) (7.3) (47)% (10.2) (25)% (51.3) (50.5) (2)% (53.9) 5%Operating Income/ (Loss) (17.3) (10.6) (39)% (13.4) (22)% (66.0) (63.2) (4)% (66.5) 1%Loss before Income tax (2) (17.6) (9.7) (45)% (13.5) (17)% (97.6) (60.1) (38)% (69.7) (18)%_________________________(1) See "Non-IFRS and Other Financial and Operating Metrics" for a reconciliation of non-IFRS measures to IFRS measures.(2) Loss before Income tax in constant currency, and the corresponding year-over-year change, exclude the impact of foreign exchange gains/(losses) recorded in finance income/costs. Net foreign exchange gains/(losses) in reported currency were $(1.3) million in the fourth quarter of 2024 and $1.1 million in the fourth quarter of 2025. For the year ended December 31, 2025 these amounts were $(13.0) million in 2024 and $6.2 million in 2025, respectively.RevenueRevenue[1] of $61.4 million, up 34% year-over-year or up 24% year-over-year on a constant currency basis.Marketplace revenue, comprised of third-party sales, marketing and advertising, and value-added services, was $31.0 million, up 36% year-over-year or up 24% year-over-year on a constant currency basis.Third-party sales revenue were $26.7 million, up 33% year-over-year or up 22% year-over-year on a constant currency basis. Year-over-year growth was driven by strong execution in our marketplace business and supported by rising customer usage.Marketing and advertising revenue was $2.9 million, up 42% year-over-year or up 33% year-over-year on a constant currency basis, driven by growth in sponsored products following the launch of our new retail advertising platform. With advertising revenue at 1% of GMV, Jumia sees substantial upside potential.Value-added services revenue was $1.4 million, up 79% year-over-year or up 64% year-over-year on a constant currency basis.First-party sales revenue was $29.9 million, up 33% year-over-year or up 23% year-over-year on a constant currency basis, reflecting strong demand and continued momentum with key international brands.Gross ProfitGross profit was $34.2 million, up 43% year-over-year or up 31% year-over-year on a constant currency basis.Gross profit as a percentage of GMV was 12.2% in the fourth quarter of 2025, compared to 11.6% in the fourth quarter of 2024. The year-over-year improvement reflects continued progress in marketplace monetization.ExpensesFulfillment expense was $14.8 million, up 15% year-over-year or up 5% year-over-year on a constant currency basis, primarily due to higher volumes.Fulfillment expense per Order, excluding JumiaPay App Orders, which do not incur logistics costs, was $1.97, down 12% year-over-year or down 20% year-over-year on a constant currency basis.The improvement reflects productivity gains and economies of scale in fulfillment operations, automation in call centers, and improved rates with logistics partners.Sales and Advertising expense totaled $7.0 million, up 47% year-over-year, or up 39% year-over-year on a constant currency basis. The increase reflects higher marketing investments to support customer acquisition and engagement, while maintaining efficiency through targeted and performance-driven campaigns.Technology and Content expense totaled $9.4 million, down 6% year-over-year, or down 8% year-over-year on a constant currency basis. The decrease was driven by ongoing headcount optimization and savings from recently renegotiated contracts.General and Administrative expense was $14.3 million, flat year-over-year, or down 3% year-over-year on a constant currency basis.General and Administrative expense, excluding share-based compensation expense, was $13.0 million, up 1% year-over-year, or down 3% year-over-year on a constant currency basis.Staff costs within General and Administrative expense, excluding share-based compensation expense, decreased by 18% year-over-year.The fourth quarter of 2025 included a tax benefit of $4.3 million, compared to an $8.4 million tax benefit recognized in the fourth quarter of 2024.We continue to streamline the organization. The total headcount has declined by 7% since December 31, 2024, with just over 2,010 employees on payroll as of December 31, 2025.Loss before Income taxOperating loss was $10.6 million in the fourth quarter of 2025, compared to $17.3 million in the fourth quarter of 2024. The year-over-year improvement primarily reflects higher revenue and gross profit, partially offset by higher operating expenses.Adjusted EBITDA loss, which excludes depreciation, amortization and share-based compensation expense, declined to $7.3 million in the fourth quarter of 2025, compared to $13.7 million in the fourth quarter of 2024, consistent with the improvement in operating performance.Loss before Income tax was $9.7 million in the fourth quarter of 2025, compared to $17.6 million in the fourth quarter of 2024, reflecting improved operational results.In constant currency, Loss before Income tax, excluding the impact of foreign exchange recorded in finance income and finance costs, was $13.5 million, down 17% year-over-year.Cash PositionAs of December 31, 2025, the Company's liquidity position was $77.8 million, comprised of $76.7 million in cash and cash equivalents and $1.2 million in term deposits and other financial assets.Jumia's liquidity position decreased by $4.7 million in the fourth quarter of 2025, compared to a decrease of $30.6 million in the fourth quarter of 2024, and a decrease of $15.8 million in the third quarter of 2025.Net cash used in operating activities was $1.7 million in the fourth quarter of 2025, compared to a net cash used of $26.5 million in the fourth quarter of 2024 and $12.4 million used in the third quarter of 2025. The result includes a positive working capital contribution of $9.6 million in the fourth quarter of 2025, compared to a negative working capital contribution of $12.1 million in the fourth quarter of 2024. The improvement primarily reflects the continued strengthening of our marketplace flywheel, with higher volumes and better payment flows, as well as improved bargaining power with large third-party accounts.In addition, the Company reported $1.7 million in capital expenditures in the fourth quarter of 2025, compared to $1.8 million in the fourth quarter of 2024, primarily reflecting investments in infrastructure and facility enhancements to support business growth. SELECTED OPERATIONAL KPIsMarketplace KPIs For the three months ended For the year ended December As Reported Constant currency As Reported Constant currency December 31, 2024 December 31, 2025 YoYChange December 31, 2025 YoYChange December 31, 2024 December 31, 2025 YoYChange December 31, 2025 YoY Change Quarterly Active Customers (million) 2.4 3.0 24% n.a. n.a. n.a. n.a. n.a. n.a. n.a. Quarterly Active Customers (million) adjusted for perimeter effects (1) 2.4 3.0 26% n.a. n.a. n.a. n.a. n.a. n.a. n.a. Orders Physical Goods (million) 5.8 7.5 31% n.a. n.a. 18.2 22.6 24% n.a. n.a. Orders Physical Goods (million) adjusted for perimeter effects (1) 5.7 7.5 32% n.a. n.a. 17.8 22.6 27% n.a. n.a. Orders JumiaPay App (million) 1.6 - (99)% n.a. n.a. 4.4 0.7 (85)% n.a. n.a. Orders JumiaPay App (million) adjusted for perimeter effects (1) 1.6 - (99)% n.a. n.a. 4.4 0.7 (85)% n.a. n.a. GMV (USD million) 206.1 279.5 36% 254.3 23% 720.6 818.6 14% 796.5 11%GMV (USD million) adjusted for perimeter effects (1) 204.5 279.5 37% 254.3 24% 703.7 818.6 16% 796.5 13%TPV (USD million) 59.2 81.4 38% 76.0 28% 195.4 232.2 19% 226.9 16%Jumia Payment Gateways Transactions (million) 3.3 2.1 (37)% n.a. n.a. 10.1 7.1 (30)% n.a. n.a. _________________________(1) Adjustments for perimeter effects relate to the exit from Tunisia and South Africa.GMV increased by 36% year-over-year to $279.5 million and physical goods Orders grew by 31% year-over-year to 7.5 million. Adjusted for perimeter effects, physical goods GMV and Orders grew by 38% and 32% year-over-year, respectively.The increase in GMV was driven by robust consumer demand, partially offset by lower corporate sales in Egypt.Order growth reflects continued improvement in product assortment and a stronger customer value proposition in physical goods.In line with our strategic focus on scaling physical goods, we have reduced our emphasis on digital products sold through our JumiaPay App, that contribute to order volumes with limited revenue impact. While this shift influenced total order metrics for the quarter, physical goods Orders growth remained robust.Our strategy to expand into secondary cities continues to deliver results. Adjusted for perimeter effects, Orders from upcountry regions represented 61% of total Orders in the fourth quarter of 2025, up from 56% in the prior-year period.The average order value for physical goods Orders increased in the fourth quarter of 2025 compared to the fourth quarter of 2024.Jumia continues to deploy marketing with a focus on efficiency and ROI, focusing investment on efficient channels to support customer acquisition, engagement, and repeat behavior. These include paid online marketing, customer relationship management ("CRM"), search engine optimization ("SEO"), and relevant offline local channels (e.g. radio and print) while also leveraging its JForce agent network.As a result of these efforts and adjusted for perimeter effects, Jumia is attracting what it believes to be a stickier and higher quality customer base as evidenced by a 422 basis point year-over-year improvement in repurchase rates.Jumia's cohort analysis indicates that 46% of new customers, who placed their first order in the third quarter of 2025, made a second purchase within 90 days, compared to 42% of new customers in the third quarter of 2024.TPV improved to $81.4 million in the fourth quarter of 2025, compared to $59.2 million in the fourth quarter of 2024. TPV as a percentage of GMV remained stable at 29% in the fourth quarter of 2025, compared to 29% in the fourth quarter of 2024.EVENTS AFTER THE REPORTING DATEIn February 2026, Jumia decided to cease operations in Algeria. In 2025, Algeria accounted for approximately 2% of GMV. The Company anticipates that ceasing operations in Algeria may temporarily negatively impact Jumia's financial metrics. Short-term effects will include employee termination costs, lease termination costs, and assets liquidation. In the longer term, these changes to Jumia's geographic footprint are expected to enhance operational efficiency and resource allocation, enabling the Company to focus on markets with stronger growth trajectories and profitability prospects. GUIDANCEJumia remains committed to delivering profitable growth in 2026 by scaling usage, improving operational efficiency, and continuing to reduce cash burn.As we enter the next phase of scaling, Adjusted EBITDA is now our primary profitability metric for guidance, as it better reflects underlying operating performance and leverage. This does not change our economic objectives, and we continue to expect to reach breakeven on an Adjusted EBITDA basis in the fourth quarter of 2026.Based on current business trends, we are establishing our full-year 2026 guidance as follows:GMV is projected to grow between 27% and 32% year-over-year, adjusted for perimeter effects.We forecast Adjusted EBITDA loss to be between $25 million and $30 million.We confirm our strategic goal to achieve breakeven on an Adjusted EBITDA basis and positive cash flow in the fourth quarter of 2026, and delivering full-year profitability and positive cash flow in 2027.First quarter 2026:GMV is projected to grow between 27% and 32% year-over-year, adjusted for perimeter effects.We expect higher cash outflows in the first quarter, reflecting typical seasonality, and the timing of annual contract renewals for certain of our technology and insurance agreements. As part of ongoing operational optimization, we will exit Algeria in the first quarter of 2026 and expect to incur related one-time costs.The above forward-looking statements reflect Jumia's expectations and strategic goals as of February 10, 2026, are subject to change, and involve inherent risks, which are partially or fully beyond its control. These risks include but are not limited to political and economic conditions across countries where it operates, the broader economic impact of the ongoing regional conflicts, and global supply chain issues. CONFERENCE CALL AND WEBCAST INFORMATIONJumia will host a conference call to discuss its fourth quarter 2025 results at 8:30 AM ET on February 10, 2026.Interested parties can access the conference at:
US Dial-in (Toll Free): 888-506-0062
International Dial-in: 973-528-0011
Entry Code: 867618The live call will also be available via webcast on Jumia's Investor Relations Website: https://investor.jumia.com/investor-relations/default.aspx.A replay of the call will be available until Tuesday, February 24, 2026 and can be accessed by dialing 877-481-4010 for toll free access or 919-882-2331 for international access using the replay passcode: 53548. (UNAUDITED)Consolidated statement of comprehensive income as of December 31, 2024 and 2025 For the three months ended For the year ended December In thousands of USD December 31, 2024 December 31, 2025 December 31, 2024 December 31, 2025 Revenue 45,687 61,395 167,486 188,930 Cost of revenue (21,802) (27,231) (67,958) (87,150)Gross profit 23,885 34,164 99,528 101,780 Fulfillment expense (12,935) (14,822) (41,920) (45,464)Sales and advertising expense (4,759) (6,972) (17,288) (19,386)Technology and content expense (10,016) (9,449) (37,515) (37,026)General and administrative expense (14,328) (14,328) (69,926) (66,118)Other operating income 1,237 944 2,413 3,310 Other operating expense (413) (164) (1,297) (304)Operating loss (17,329) (10,627) (66,005) (63,208)Finance income 2,656 1,731 7,319 9,231 Finance costs (2,973) (795) (38,873) (6,149)Loss before Income tax (17,646) (9,691) (97,559) (60,126)Income tax benefit / (expense) (1,890) (614) (1,546) (1,414)Loss for the period (19,536) (10,305) (99,105) (61,540)Attributable to: Equity holders of the Company (19,533) (10,311) (99,086) (61,551)Non-controlling interests (3) 6 (19) 11 Loss for the period (19,536) (10,305) (99,105) (61,540)Other comprehensive income / (loss) to be classified to profit or loss in subsequent periods Exchange differences gain on translation of foreign operations 2,147 (14,574) 219,671 (97,554)Other comprehensive loss on net investment in foreign operations (91) 14,593 (207,468) 92,486 Other comprehensive income on financial assets at fair value through OCI 158 1 3,737 2,083 Other comprehensive income / (loss) 2,214 20 15,940 (2,985)Total comprehensive loss for the period (17,322) (10,285) (83,165) (64,525)Attributable to: Equity holders of the Company (17,344) (10,291) (83,170) (64,492)Non-controlling interests 22 6 5 (33)Total comprehensive loss for the period (17,322) (10,285) (83,165) (64,525) (UNAUDITED)Consolidated statement of financial position as of December 31, 2024 and December 31, 2025 As of In thousands of USD December 31,
2024 December 31,
2025 Assets Non-current assets Property and equipment 17,196 19,163 Deferred tax assets 323 326 Other taxes receivables 3,814 - Other non-current assets 1,408 1,278 Total Non-current assets 22,741 20,767 Current assets Inventories 6,432 10,098 Trade and other receivables 15,783 13,888 Income tax receivables 3,041 3,153 Other taxes receivable 4,227 3,746 Prepaid expenses 5,903 4,067 Term deposits and other financial assets 78,585 1,162 Cash and cash equivalents 55,360 76,670 Total Current assets 169,331 112,784 Total Assets 192,072 133,551 Equity and Liabilities Equity Share capital 283,093 286,156 Share premium 1,792,181 1,792,181 Other reserves 180,442 178,520 Accumulated losses (2,168,924) (2,230,584)Equity attributable to the equity holders of the Company 86,792 26,273 Non-controlling interests (506) (539)Total Equity 86,286 25,734 Liabilities Non-current liabilities Non-current borrowings 7,260 7,929 Trade and other payables 6 6 Deferred tax liabilities 540 126 Other taxes payable 1,626 - Provisions for liabilities and other charges 638 721 Total Non-current liabilities 10,070 8,782 Current liabilities Current borrowings 3,938 3,793 Trade and other payables 44,301 57,954 Income tax payables 13,510 12,456 Other taxes payable 13,994 11,478 Provisions for liabilities and other charges 12,893 8,522 Deferred income 7,080 4,832 Total Current liabilities 95,716 99,035 Total Liabilities 105,786 107,817 Total Equity and Liabilities 192,072 133,551 (UNAUDITED)Consolidated statement of cash flows as of December 31, 2024 and 2025 For the three months ended For the year ended December In thousands of USD December 31,
2024 December 31,
2025 December 31,
2024 December 31,
2025 Loss before Income tax (17,646) (9,691) (97,559) (60,126)Depreciation and amortization of tangible and intangible assets 2,311 2,069 8,265 7,860 Impairment losses on loans, receivables and other assets 609 (43) 698 386 Impairment losses/(reversals) on obsolete inventories (181) 183 197 575 Share-based compensation expense 1,418 1,300 6,541 4,743 Net (gain)/loss from disposal of tangible and intangible assets 124 66 854 75 Change in provision for other liabilities and charges (105) (3,091) (3,125) (4,680)Lease modification (income)/expense (26) - (94) (1)Interest (income)/expense (788) 350 (569) 820 Discounting effect (income)/expense (108) (215) (289) (124)Net foreign exchange (gain)/loss 1,348 (98) 13,359 (3,074)Net loss on financial instruments at fair value through profit or loss - - 16,163 - Net loss recognized on disposal of debt instruments held at FVOCI - - 3,427 2,577 Share-based compensation expense - settlement (10) - (178) (139)(Increase)/Decrease in trade and other receivables, prepaid expenses and other tax receivables (2,340) 8,550 3,242 9,778 (Increase)/Decrease in inventories 882 (1,860) 834 (3,558)Increase/(Decrease) in trade and other payables, deferred income and other tax payables (10,602) 2,895 (5,594) 762 Income taxes (paid)/received (1,415) (2,079) (3,375) (3,794)Net cash flows (used in) / from operating activities (26,529) (1,664) (57,203) (47,920)Cash flows from investing activities Purchase of property and equipment (1,829) (1,689) (3,678) (4,665)Proceeds from sale of property and equipment 217 4 332 58 Interest or other charges received 1,277 333 1,934 2,160 Movement in other non-current assets (154) 1 (269) 278 Movement in term deposits and other financial assets (63) (126) (8,721) 77,805 Net cash flows (used in) / from investing activities (552) (1,477) (10,402) 75,636 Cash flows from financing activities Interest settled - financing 26 - - - Payment of lease interest (516) (725) (1,025) (2,566)Repayment of lease liabilities (972) (991) (4,098) (3,758)Equity transaction costs (2,109) (28) (5,055) (113)Capital contributions - - 99,642 - Net cash flows (used in) / from financing activities (3,571) (1,744) 89,464 (6,437)Net (decrease)/increase in cash and cash equivalents (30,652) (4,885) 21,859 21,279 Effect of exchange rate changes on cash and cash equivalents 186 71 (1,982) 31 Cash and cash equivalents at the beginning of the period 85,826 81,484 35,483 55,360 Cash and cash equivalents at the end of the period 55,360 76,670 55,360 76,670 Forward Looking StatementsThis release includes forward-looking statements. All statements other than statements of historical facts contained in this release, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "believes," "estimates", "potential" or "continue" or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement, including, without limitation, the risks described under Item 3. "Key Information-D. Risk Factors," in our Annual Report on Form 20-F as filed with the US Securities and Exchange Commission for the year ended December 31, 2024. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Considering these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements.The forward-looking statements included in this release are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor our advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Neither we nor our advisors undertake any obligation to update any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations, except as may be required by law. You should read this release with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. Non-IFRS Financial and Operating MetricsChanges, percentages, ratios and aggregate amounts presented have been calculated on the basis of unrounded figures.This release includes certain financial measures and metrics not based on IFRS, including Adjusted EBITDA, as well as operating metrics, including Annual Active Customers, Quarterly Active Customers, Orders and GMV. We define Annual Active Customers Quarterly Active Customers, Orders, GMV, Total Payment Volume, Jumia Payment Gateways Transactions and Adjusted EBITDA as follows:Annual Active Customers means unique customers who placed an order for a product or a service on our platform, within the 12-month period preceding the relevant date, irrespective of cancellations or returns.Quarterly Active Customers means unique customers who placed an order for a product or a service on our platform, within the 3-month period preceding the relevant date, irrespective of cancellations or returns.We believe that Annual Active Customers and Quarterly Active Customers are useful indicators of the adoption of our offering by customers in our markets.Orders corresponds to the total number of orders for products and services on our platform, irrespective of cancellations or returns, for the relevant period.We believe that the number of orders is a useful indicator to measure the total usage of our platform, irrespective of the monetary value of the individual transactions.Gross Merchandise Value ("GMV") corresponds to the total value of orders for products and services, including shipping fees, value added tax, and before deductions of any discounts or vouchers, irrespective of cancellations or returns for the relevant period. We believe that GMV is a useful indicator for the usage of our platform that is not influenced by shifts in our sales between first-party and third-party sales or the method of payment.We use Quarterly Active Customers, Orders and GMV as some of many indicators to monitor usage of our platform.Total Payment Volume ("TPV") corresponds to the total value of orders for products and services for which Jumia Payment Gateways Transactions was used including shipping fees, value-added tax, and before deductions of any discounts or vouchers, irrespective of cancellations or returns, for the relevant period.We believe that TPV, which corresponds to the share of GMV for which Jumia Payment Gateways Transactions was used, provides a useful indicator of the development, and adoption by customers, of the payment services offerings we make available, directly and indirectly, through JumiaPay.Jumia Payment Gateways Transactions corresponds to the total number of orders for products and services on our marketplace for which Jumia payment gateways were used, irrespective of cancellations or returns for the relevant period.We believe that Jumia Payment Gateways Transactions provides a useful indicator of the development, and adoption by customers, of the cashless payment services offerings we make available for orders on our platform irrespective of the monetary value of the individual transactions.We use TPV and the number of Jumia Payment Gateways Transactions to measure the development of our payment services and the progressive conversion of cash on delivery orders into prepaid orders.General and administrative expense, excluding SBC, corresponds to the General & Administrative ("G&A") expense excluding share-based compensation expense ("SBC"). We use this metric to measure the development of our G&A costs exclusive of the impact of SBC which is mainly a non-cash expense, influenced, in part, by share price fluctuations.Adjusted EBITDA corresponds to loss for the period, adjusted for income tax expense (benefit), finance income, finance costs, depreciation and amortization and further adjusted for share-based compensation expense.Adjusted EBITDA is a supplemental non-IFRS measure of our operating performance that is not required by, or presented in accordance with, IFRS. Adjusted EBITDA is not a measurement of our financial performance under IFRS and should not be considered as an alternative to Loss for the period, Loss before Income tax or any other performance measure derived in accordance with IFRS. We caution investors that amounts presented in accordance with our definition of Adjusted EBITDA may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate Adjusted EBITDA in the same manner. We present Adjusted EBITDA because we consider it to be an important supplemental measure of our operating performance. Management believes that investors' understanding of our performance is enhanced by including non-IFRS financial measures as a reasonable basis for comparing our ongoing results of operations. By providing this non-IFRS financial measure, together with a reconciliation to the nearest IFRS financial measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives.Management uses Adjusted EBITDA:as a measurement of operating performance because it assists us in comparing our operating performance on a consistent basis, as it removes the impact of items not directly resulting from our core operations;for planning purposes, including the preparation of our internal annual operating budget and financial projections;to evaluate the performance and effectiveness of our strategic initiatives; andto evaluate our capacity to expand our business.Items excluded from this non-IFRS measure are significant components in understanding and assessing financial performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitute for analysis of our results reported in accordance with IFRS, including loss for the period. Some of the limitations are:Adjusted EBITDA does not reflect our share-based compensation, income tax expense (benefit) or the amounts necessary to pay our taxes;although depreciation and amortization are eliminated in the calculation of Adjusted EBITDA, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any costs for such replacements; andother companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to us to invest in the growth of our business. We compensate for these and other limitations by providing a reconciliation of Adjusted EBITDA to the most directly comparable IFRS financial measure, loss for the period.The following table provides a reconciliation of loss for the period to Adjusted EBITDA for the periods indicated: For the three months ended For the year ended December (USD million) December 31, 2024 December 31, 2025 December 31, 2024 December 31, 2025 Loss for the period (19.5) (10.3) (99.1) (61.5)Income tax benefit / (expense) 1.9 0.6 1.5 1.4 Net Finance costs / (income) 0.3 (0.9) 31.6 (3.1)Depreciation and amortization 2.2 2.1 8.2 8.0 Share-based compensation expense 1.4 1.3 6.5 4.7 Adjusted EBITDA (13.7) (7.3) (51.3) (50.5)Constant currency dataCertain metrics have also been presented on a constant currency basis. We use constant currency information to provide us with a picture of underlying business dynamics, excluding currency effects.Constant currency metrics are calculated using the average foreign exchange rates for each month during 2024 and applying them to the corresponding months in 2025, so as to calculate what our results would have been had exchange rates remained stable from one year to the next. These calculations do not include any other macroeconomic effect such as local currency inflation effects or any price adjustment to compensate local currency inflation or devaluations. Constant currency information is not a measure calculated in accordance with IFRS. While we believe that constant currency information may be useful to investors in understanding and evaluating our results of operations in the same manner as our management, our use of constant currency metrics has limitations as an analytical tool, and you should not consider it in isolation, or as an alternative to, or a substitute for analysis of our financial results as reported under IFRS. Further, other companies, including companies in our industry, may report the impact of fluctuations in foreign currency exchange rates differently, which may reduce the value of our constant currency information as a comparative measure.The following table sets forth the constant currency data for selected metrics: For the three months ended For the year ended December As reported Constant currency As reported Constant currency In USD million, except percentages December 31, 2024 December 31, 2025 YoYChange December 31, 2025 YoYChange December 31, 2024 December 31, 2025 YoYChange December 31, 2025 YoYChange Revenue 45.7 61.4 34% 56.5 24% 167.5 188.9 13% 185.6 11%Marketplace revenue 22.8 31.0 36% 28.4 24% 89.4 92.1 3% 88.8 (1)%Third-party sales 20.0 26.7 33% 24.3 22% 78.8 80.3 2% 77.3 (2)%Value-added services 0.8 1.4 79% 1.3 64% 2.9 4.2 48% 4.1 43%Marketing and advertising 2.1 2.9 42% 2.7 33% 7.7 7.6 (1)% 7.4 (4)%First-party sales 22.5 29.9 33% 27.7 23% 76.5 95.1 24% 95.1 24%Other revenue 0.4 0.5 34% 0.4 26% 1.6 1.7 7% 1.7 5%Gross Profit 23.9 34.2 43% 31.3 31% 99.5 101.8 2% 98.3 (1)%Fulfillment expense (12.9) (14.8) 15% (13.6) 5% (41.9) (45.5) 8% (44.0) 5%Sales and Advertising expense (4.8) (7.0) 47% (6.6) 39% (17.3) (19.4) 12% (19.4) 12%Technology and Content expense (10.0) (9.4) (6)% (9.2) (8)% (37.5) (37.0) (1)% (36.7) (2)%G&A expense, excluding SBC (12.9) (13.0) 1% (12.5) (3)% (63.4) (61.4) (3)% (60.7) (4)%Adjusted EBITDA (13.7) (7.3) (47)% (10.2) (25)% (51.3) (50.5) (2)% (53.9) 5%Operating Income/ (Loss) (17.3) (10.6) (39)% (13.4) (22)% (66.0) (63.2) (4)% (66.5) 1%Loss before Income tax (1) (17.6) (9.7) (45)% (13.5) (17)% (97.6) (60.1) (38)% (69.7) (18)% GMV 206.1 279.5 36% 254.3 23% 720.6 818.6 14% 796.5 11%TPV 59.2 81.4 38% 76.0 28% 195.4 232.2 19% 226.9 16%TPV as % of GMV 29% 29% 30% 27% 28% 28% _________________________(1) Loss before Income tax in constant currency, and the corresponding year-over-year change, excludes the impact of foreign exchange recorded in finance income/costs. Net foreign exchange gains/(losses) in reported currency were $(1.3) million in the fourth quarter of 2024 and $1.1 million in the fourth quarter of 2025. For the year ended December 31, 2025 these amounts were $(13.0) million in 2024 and $6.2 million in 2025, respectively.[1] Working capital comprises movements in: (i) trade and other receivables, prepaid expenses and other tax receivables; (ii) inventories; and (iii) trade and other payables, deferred income and other tax payables.[1] In addition to marketplace revenue and first-party sales, revenue included other revenue of $0.4 million in the fourth quarter of 2024 and $0.5 million in the fourth quarter of 2025.SOURCE: Jumia Technologies AGView the original press release on ACCESS NewswireOriginal: Jumia Reports Fourth Quarter and Full Year 2025 Results