- **Revenue Surge**: Q3 2025 revenue up 25% YoY to $45.6M, driven by 34% YoY order growth and 22% YoY active customer expansion.
- **Profitability Progress**: Adjusted EBITDA loss narrows to $14M (-17% YoY), with 2027 full-year profitability target reaffirmed.
- **Efficiency Gains**: Fulfillment cost per order down 22% to $1.86, tech expenses down 10% YoY.
- **Strategic Growth**: 60% of orders from secondary cities, 3.4M items sourced from China (+52% YoY), and 1% GMV from advertising.
- **Q4 Momentum**: 30%+ YoY GMV growth in October, with Jumia Instant pilot in Nairobi showing early success.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $45.6 million, up 25% YoY, driven by strong consumer demand and core marketplace growth. First-party sales contributed 52% of total revenue, up 54% YoY.
- **GMV Momentum**: Physical goods GMV grew 26% YoY (37% excluding corporate sales), with orders up 34% YoY. Active customers increased 22% YoY, the highest in three years.
- **Market Expansion**: 60% of orders came from secondary cities, up from 54% last year. Jumia Instant, a four-hour delivery pilot in Nairobi, shows early traction.
- **Profitability Path**: On track for 2027 full-year profitability, with Q3 adjusted EBITDA loss of $14 million (vs. $17 million YoY). Fulfillment cost per order dropped 22% to $1.86.
- **Strategic Initiatives**: New retail advertising platform (1% of GMV) and international seller partnerships (3.4M items sourced from China, +52% YoY) drive growth.

**【CFO Financial Commentary】**
- **Top Line**: Revenue $45.6M (+25% YoY), with marketplace revenue $21.5M (+4% YoY). Gross profit $23.8M (-4% YoY) due to Egyptian corporate sales decline.
- **Cost Efficiency**: Fulfillment expenses $10.4M (+1% YoY), but cost per order down 22% to $1.86. Tech/content costs $8.7M (-10% YoY) from headcount optimization.
- **Liquidity**: $82.5M cash and equivalents, with Q3 cash used in operations $12.4M. CapEx $1.4M for logistics expansion.
- **Profitability**: Loss before tax $17.7M (-1% YoY). 2025 guidance: GMV +15-17%, loss before tax $50-55M. 2026 target: loss before tax $25-30M, 2027 breakeven.

**【Q&A Highlights】**
- **Q4 Outlook**: 30%+ YoY GMV growth in October, driven by Black Friday and up-country expansion. Fulfillment efficiency gains to persist.
- **Cost Management**: Tech and G&A expenses declining 10-11% YoY, with leaner headcount (2,010 employees vs. 2,200 in Q4 2024).
- **Competitive Edge**: Localized logistics, vendor partnerships, and reduced corporate sales in Egypt (GMV -23% YoY, +44% ex-corporate) strengthen market share.
- **Supply Chain**: 3.4M items sourced from China (+52% YoY), supporting 37% GMV growth ex-corporate. Currency stability improves supplier confidence.
- **Risk Mitigation**: Working capital optimized for seasonal spikes, with inventory ramp-up ahead of Black Friday reducing cash strain.

Jumia Technologies AG (JMIA) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

JMIA

JMIA fundamentals

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