Jumia Technologies AG announced its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company reported revenue of $36.4 million, a 13% decrease year-over-year, but an increase of 9% in constant currency.
Loss before income tax was reduced by 17% compared to the prior year, demonstrating progress in cost management. Jumia also reported a significant strengthening of its liquidity position, ending the quarter with $164.6 million in cash on hand.
Operational highlights included a 5% year-over-year growth in physical orders and a 1% year-over-year growth in active customers, marking the first positive growth in active customers in two years. Gross Merchandise Volume (GMV) grew 29% year-over-year in constant currency, driven by seven countries.
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