Jumia Technologies (JMIA) Q1 Revenue Falls YoY, Adjusted EBTIDA Loss Also Decreases
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Jumia Technologies (NYSE: JMIA) reported Q1 revenue of EUR27.37 million, versus EUR29.25 million reported last year. Adjusted EBITDA loss decreased by 24% year-over-year.
"Our first quarter results reflect solid progress towards profitability. The drivers remain consistent: selective and disciplined usage growth, gradual monetization and continued cost discipline. The first quarter of 2021 was the sixth consecutive quarter of positive gross profit after fulfillment expense, which reached ¬6.2 million, more than doubling year-over-year, while Adjusted EBITDA loss contracted by 24% year-over-year, reaching ¬27.0 million", commented Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia.
"Our strategy to increase our exposure to everyday product categories continues to yield positive results, enhancing the relevance of our marketplace for consumers. We are making further inroads in payment and fintech with 37% of Orders in the first quarter of 2021 completed using JumiaPay. Last but not least, we have raised over $570 million over the past six months, strengthening our balance sheet and increasing our strategic flexibility. We are confident we have all the right ingredients to continue to build a growing business across both our e-commerce and fintech activities."
For earnings history and earnings-related data on Jumia Technologies (JMIA) click here.
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