Jumia Technologies reported mixed Q2 2024 results as orders grew 7% YoY to 4.8 million despite currency pressures, while GMV declined 5% to $170.1 million due to foreign exchange impacts. Revenue decreased 17% YoY to $36.5 million, though it grew 15% in constant currency. Operating loss improved 8% YoY to $20.2 million on cost optimization efforts.The company demonstrated strong cash management with quarterly cash burn declining 55% QoQ to $8.7 million. Marketing spend decreased 19% YoY while maintaining customer growth, with active customers up 6% sequentially. JumiaPay transactions increased 31% YoY to 1.9 million, driven by higher adoption of cashless payments.As of June 30, 2024, Jumia maintained a solid liquidity position of $92.8 million, comprising $45.1 million in cash and $47.7 million in term deposits. The company reaffirmed its 2024 outlook, projecting increased orders and GMV while further reducing cash utilization compared to 2023.

Jumia Technologies reported mixed Q2 2024 results as orders grew 7% YoY to 4.8 million despite currency pressures, while GMV declined 5% to $170.1 million due to foreign exchange impacts. Revenue decreased 17% YoY to $36.5 million, though it grew 15% in constant currency. Operating loss improved 8% YoY to $20.2 million on cost optimization efforts.The company demonstrated strong cash management with quarterly cash burn declining 55% QoQ to $8.7 million. Marketing spend decreased 19% YoY while maintaining customer growth, with active customers up 6% sequentially. JumiaPay transactions increased 31% YoY to 1.9 million, driven by higher adoption of cashless payments.As of June 30, 2024, Jumia maintained a solid liquidity position of $92.8 million, comprising $45.1 million in cash and $47.7 million in term deposits. The company reaffirmed its 2024 outlook, projecting increased orders and GMV while further reducing cash utilization compared to 2023.