Jumia Technologies reports a 13% revenue decline in Q3 2024 and exits South Africa and Tunisia.

Jumia Technologies AG's Q3 2024 results show a 13% revenue decline to $36.4 million, despite a 9% rise in constant currency. Gross Merchandise Volume (GMV) fell 1% to $162.9 million but rose 29% in constant currency. Operating losses increased to $20.1 million, while adjusted EBITDA loss rose to $17 million. The company is ceasing operations in South Africa and Tunisia to focus on stronger markets, with liquidity improving to $164.6 million.

November 07, 2024
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