The following is a summary of the Jumia Technologies AG (JMIA) Q1 2024 Earnings Call Transcript:
Financial Performance:
Jumia reported a Q1 2024 gross merchandise volume (GMV) of $181.5 million, up 5% YoY or 39% on a constant currency basis, driven by enhanced product assortment, efficient marketing, and reduced consumer discounts.
The average order value (AOV) increased by 3% to $39.6.
Revenue for Q1 2024 was $48.9 million, a 19% YoY increase or 57% on a constant currency basis.
Cash burn for the quarter reduced to $19.1 million from $22 million.
Adjusted EBITDA loss decreased to $4.3 million in Q1, a decrease of 94% on a constant currency basis. However, net foreign exchange losses increased due to currency devaluation, leading to an increased loss before income tax.
Business Progress:
Jumia's growth strategy is focused on strengthening its core business, improving cash efficiency, and building strong business fundamentals including supply chain improvements, urban expansion, marketing efficiency, and streamlining logistics.
There was a significant increase in user engagement with JumiaPay, promoting cashless transactions and reducing processing times.
The company increased the number of pickup station deliveries by 18% YoY in Q1, as part of its logistics network enhancement efforts.
Jumia is expanding collaborations with new and existing local and international vendors to provide customers with a wide assortment of products at affordable prices.
By the end of 2024, Jumia aims to have improved its efficiency and cost base across almost 400 cities to reach more customers.
The company is repatriating cash from various African markets to Germany to offset the impacts of currency fluctuations.
More details: Jumia Technologies IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.