Jumia reduces losses by over 90% amid focus on restoring order and GMV growth

In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100-120 million in Q1,$ 90-100 million in Q2, and $80-90 million in Q3, aiming for a 57-61% year-over-year reduction if met.The company exceeded these expectations and significantly outperformed in that regard. It ended the year with$ 58.2 million in adjusted EBITDA loss, marking a 68% decrease from 2022, and Q4 concluded with less than $1 million in adjusted losses, a 99% decrease. Jumia’s operating loss decreased by 90% to$ 4 million that q ...