Jumia Technologies (JMIA) Q4 2025 earnings summary

Executive summary

• Achieved strong operating momentum in Q4 2025, with 36% GMV growth, 34% revenue growth to $61.4M, and significant reduction in cash burn.

• Physical goods GMV grew 38% year-over-year, with broad-based demand, especially during Black Friday, and orders up 32%.

• Nigeria led with 50% GMV and 33% order growth; active customers for physical goods increased 26% year-over-year.

• Opened a new office in Yiwu, China, to expand direct sourcing and diversify product assortment.

• Quarterly cash burn declined to $4.7 million in Q4 2025 from $15.8 million in Q3 2025.

Financial highlights

• Q4 2025 revenue: $61.4M (+34% YoY); GMV: $279.5M (+36% YoY); gross profit: $34.2M (+43% YoY); gross margin: 12.2%.

• Adjusted EBITDA loss narrowed to $7.3M from $13.3M in prior year; operating loss down 39% YoY to $10.6M.

• Loss before income tax was $9.7M, a 45% decrease year-over-year.

• Cash burn declined to $4.7M in Q4 2025; net cash used in operating activities was $1.7M.

• Ended Q4 with $77.8M in liquidity, including $76.7M in cash and equivalents.

Outlook and guidance

• GMV expected to grow 27–32% year-over-year in 2026, adjusted for perimeter effects.

• Adjusted EBITDA loss for 2026 forecasted between $25M and $30M.

• Targeting adjusted EBITDA breakeven and positive cash flow in Q4 2026, with full-year profitability in 2027.

• Exiting Algeria in Q1 2026, incurring one-time costs and short-term negative impact.

• Q1 2026 expected to see higher cash outflows due to seasonality and contract renewals.