Jumia reduces losses by over 90% amid focus on restoring order and GMV growth
JMIAJumia(JMIA) TechCrunch·2024-02-16 02:37

In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: 100−120millioninQ1,100-120 million in Q1, 90-100 million in Q2, and 80−90millioninQ3,aimingfora57−6180-90 million in Q3, aiming for a 57-61% year-over-year reduction if met. The company exceeded these expectations and significantly outperformed in that regard. It ended the year with 58.2 million in adjusted EBITDA loss, marking a 68% decrease from 2022, and Q4 concluded with less than 1millioninadjustedlosses,a991 million in adjusted losses, a 99% decrease. Jumia’s operating loss decreased by 90% to 4 million that ...