Jumia Technologies reports Q2 revenue $48.5M, one estimate $48.7M

Reports Q2 GMV $202.3M vs. $271.1M last year, with quarterly active customers of 2.4M, down from 3.4M last year. “We continue to deliver strongly on our overriding objective of loss reduction and progress towards profitability. In the second quarter of 2023, both Adjusted EBITDA and Operating losses decreased by 66% year-over-year, reaching the lowest loss levels in over 4 years. Considering this strong progress, we are updating our Adjusted EBITDA loss guidance for the full year 2023 to $90M-$100M, compared to $100M-$120M previously. We are navigating challenging macro conditions with discipline and focus, doubling down on our efficiency efforts. Compared to the second quarter of 2022, Fulfillment and Sales & Advertising expenses were down 50% and 74%, respectively. We are also starting to reap the benefits of our actions on overhead costs with G&A excluding share-based compensation decreasing by a third year-over-year, reaching a 4-year low at $17.7M,” commented Francis Dufay, CEO of Jumia.