Jumia Technologies reports Q3 revenue $44.9M, one estimate $48.52M

Reports Q2 GMV $181M, down 25% year-over-year, and down 3% in constant currency, with quarterly active customers of 2.3M vs. 3.1M last year. The company said, “We have built a leaner and more focused organization centered around clear priorities for our core physical goods business. Costs have been streamlined while maintaining strong execution on priority projects; operations have become more efficient while growing our footprint outside of the main cities; and sales and advertising expenses have decreased while building stronger fundamentals for profitable growth. We have thus significantly reduced our losses and cash utilization, securing a liquidity position that we believe enables us to work on fundamental, long-term improvements to grow our core business. To position us for profitable growth, we have continued to shift our focus away from costly marketing channels, and towards enhancing our supply in key physical goods products categories with proven economics.”