- Jumia Technologies AG (NYSE: JMIA) reported a first-quarter FY21 revenue decline of 6.4% year-on-year to €27.4 million.
- GMV declined 13% Y/Y to €165 million, TPV rose 20.9% Y/Y €42.9 million, and Marketplace revenue rose 5.9% Y/Y to €20.2 million.
- Under Platform revenue, Commissions revenue rose 8.8% Y/Y to €7.6 million, Fulfillment rose 10.6% Y/Y to €7.1 million, Marketing & Advertising rose 35.6% Y/Y to €1.6 million, Value Added Services declined 12.8% Y/Y to €3.9 million. First, Party revenue fell 34.7% Y/Y to €6.5 million.
- Non-Platform revenue rose 157.4% Y/Y to €0.7 million.
- Adjusted EBITDA loss declined 24.2% Y/Y to €27 million, and the operating loss narrowed 23% Y/Y to €33.7 million.
- Jumia held €485.6 million in cash and equivalents and used €29.5 million in operating cash flow.
- Q1 of 2021 was the sixth consecutive quarter of positive gross profit after fulfillment expense, which reached €6.2 million, more than doubling Y/Y, while Adjusted EBITDA loss contracted by 24% Y/Y, reaching €27 million, Co-CEOs Jeremy Hodara and Sacha Poignonnec said.
- Jumia made further inroads in payment and fintech, with 37% of Orders in Q1 of 2021 completed using JumiaPay. The company has raised over $570 million over the past six months, Hodara and Poignonnec said.
- Guidance: The pandemic-induced uncertainty continues to cast doubt regarding the company’s financial outlook, further intensified by social protests or political disruption in Nigeria in late 2020 and early 2021.
- Read: Exclusive: Why Citron Research’s Andrew Left Says Jumia Could Be Buyout Target
- Price action: JMIA shares traded lower by 7.6% at $21.66 on the last check Tuesday.
Pandemic And Political Uncertainty Hit Jumia Technologies Q1 Results, Affects Financial Guidance