Jumia Technologies (JMIA) Reports Q4 Revenues of EUR49.28M

Jumia Technologies (NYSE: JMIA) reported Q4 revenue for the quarter came in at EUR49.28 million, versus EUR43.28 million reported last year.

“In the fourth quarter of 2019, we took a number of important actions to support our path to profitability while positioning the business for long term growth.” commented Sacha Poignonnec and Jeremy Hodara, Co-Chief Executive Officers of Jumia.

“We initiated a rebalancing of our business mix towards higher consumer lifetime value business, reducing promotional intensity on certain product categories, while driving growth of the more affordable, higher purchase frequency ones. While this led to a softer GMV growth trajectory, it has supported consumer acquisition and usage growth. Annual Active Consumers reached a record 6.1 million and Orders increased by 49% in the fourth quarter of 2019 when compared with the fourth quarter of 2018.

This rebalancing, alongside gradual monetization, supported profitability as Gross profit reached €24.8 million, up 64% compared to the fourth quarter of 2018. Our Gross profit after Fulfillment expense was positive at €1.0 million in the fourth quarter of 2019 compared to a loss of €2.1 million in the fourth quarter of 2018.

We also undertook a portfolio optimization initiative to enhance our business focus and align our investments and resources with the opportunities that we believe best support our long-term growth and path to profitability. We expect the impact of these initiatives to continue playing out in the coming quarters, with a more meaningful contribution to our path to profitability in 2020 and beyond.”

For earnings history and earnings-related data on Jumia Technologies (JMIA) click here.

You May Also Be Interested In

• Jumia Technologies (JMIA) PT Lowered to $11 at Cantor Fitzgerald
• Maze Therapeutics adds two directors with clinical and pharma backgrounds
• CaliberCos Inc (CWD) Misses Q2 EPS by 43c; Offers Guidance