Jumia Technologies (JMIA) Q1 2025 earnings summary

Executive summary

• Orders grew 21% year-over-year, with active customers up 15% and strong March trends post-devaluation anniversaries.

• Focused on reducing losses, driving efficiency, and delivering measurable financial improvements, with a clear path to profitability by 2027.

• Nigeria showed a strong turnaround with orders up 22% and GMV up 20% year-over-year.

• Accelerated usage trends and return to positive end-user GMV growth in March signal renewed momentum, despite ongoing currency headwinds and lower corporate sales in Egypt.

• Company-wide cost-cutting initiatives in logistics, fulfillment, technology, and G&A are underway, with visible impact on margins and cash burn.

Financial highlights

• Q1 2025 revenue was $36.3 million, down 26% year-over-year, mainly due to lower corporate sales in Egypt and currency devaluations.

• GMV was $161.7 million, down 8% year-over-year, with a larger decline in reported currency due to FX impacts.

• Adjusted EBITDA loss was $15.7 million, compared to a loss of $4.3 million in Q1 2024.

• Loss before income tax improved to $16.5 million from $39.6 million year-over-year, mainly due to better net finance result.

• Liquidity position at quarter-end was $110.7 million, with $61.6 million in cash and $49.1 million in term deposits.

Outlook and guidance

• Raised 2025 physical goods orders growth guidance to 20%-25% (from 15%-20%).

• 2025 GMV projected at $795-$830 million, up 10%-15% year-over-year, excluding FX impacts.

• Updated 2025 loss before income tax guidance to negative $50-$55 million, a 44%-49% year-over-year improvement.

• 2026 loss before income tax projected at negative $25-$30 million; break-even targeted in Q4 2026 and full-year profitability in 2027.