Jumia Technologies AG reported a 19% YoY revenue increase to $49M, 5% in GMV to $181M, and significant cost reduction in Q1 2024.
Jumia Technologies AG reported strong Q1 2024 financial results, with a 19% year-over-year increase in revenue to $49M, and a 5% increase in GMV to $181M. The company's focus on cost reduction and cash efficiency led to a 71% reduction in operating loss, a 94% reduction in adjusted EBITDA loss, and a 57% increase in constant currency revenue. CEO Francis Dufay credits the positive results to disciplined cost management, improved cash efficiency, and growing customer engagement in Africa.
May 07, 2024
8 Articles