Jumia Technologies reported Q3 2024 results, showing resilient growth despite macroeconomic challenges. Revenue decreased 13% YoY to $36.4 million, but increased 9% in constant currency. GMV declined 1% to $162.9 million, while rising 29% in constant currency. Operating loss increased 10% to $20.1 million.The company saw growth in key metrics, with Quarterly Active Customers up 1% and Orders up 4% YoY. Jumia's liquidity position improved significantly to $164.6 million, boosted by $94.7 million in net proceeds from an August ATM offering. The company plans to use these funds to refocus on promising markets, improve vendor technology, expand customer acquisition, and scale logistics.Jumia announced plans to cease operations in South Africa and Tunisia by year-end 2024 to focus on markets with stronger growth potential. The company maintains its 2024 outlook, aiming to reduce cash utilization and increase orders and GMV, excluding foreign exchange impacts.

Jumia Technologies reported Q3 2024 results, showing resilient growth despite macroeconomic challenges. Revenue decreased 13% YoY to $36.4 million, but increased 9% in constant currency. GMV declined 1% to $162.9 million, while rising 29% in constant currency. Operating loss increased 10% to $20.1 million.The company saw growth in key metrics, with Quarterly Active Customers up 1% and Orders up 4% YoY. Jumia's liquidity position improved significantly to $164.6 million, boosted by $94.7 million in net proceeds from an August ATM offering. The company plans to use these funds to refocus on promising markets, improve vendor technology, expand customer acquisition, and scale logistics.Jumia announced plans to cease operations in South Africa and Tunisia by year-end 2024 to focus on markets with stronger growth potential. The company maintains its 2024 outlook, aiming to reduce cash utilization and increase orders and GMV, excluding foreign exchange impacts.