Jumia Technologies AG (NYSE: JMIA) reported third‑quarter 2025 results before the U.S. market open today, showing accelerating top‑line growth and improving operating metrics while refining its 2025 loss outlook and reiterating a path to profitability. The Africa‑focused ecommerce group also confirmed tomorrow’s Investor Day and an earnings call at 8:30 a.m. ET today. [1]
Key numbers (Q3 2025, year over year)
- Revenue:$45.6M, +25% (22% in constant currency). [2]
- GMV:$197.2M, +21% (13% in constant currency). [3]
- Adjusted EBITDA loss:$14.0M vs. $17.0M. [4]
- Operating loss:$17.4M vs. $20.1M. [5]
- Loss before income tax:$17.7M, slightly improved vs. $17.8M. [6]
- Liquidity:$82.5M; net cash used in operating activities $12.4M, better than $26.8M last year. [7]
Usage momentum (physical goods, perimeter‑adjusted):
- Orders:+34% YoY; Quarterly Active Customers:+23% YoY. Nigeria led with GMV +43% YoY. [8]
Context on mix: As part of its shift away from low‑value digital orders, JumiaPay app orders fell sharply year over year, a deliberate pivot that lifted physical‑goods engagement metrics. [9]
Guidance & profitability roadmap
- FY‑2025 (refined):
- Physical‑goods orders growth:+25% to +27% YoY
- GMV growth:+15% to +17% YoY
- Loss before income tax:–$55M to –$50M
- FY‑2026 target:Loss before income tax –$25M to –$30M; Breakeven in Q4’26; full‑year profitability in 2027. [10]
Management described Q3 as an “inflection point” for demand and order growth while continuing to cut unit costs and streamline operations. [11]
Market reaction (intraday)
Early headlines flagged a modest pre‑market bounce; at 7:01 a.m. ET, one wire noted shares were ~3% higher. As of 14:09 UTC, however, JMIA was ~7% lower vs. yesterday’s close. Divergent moves underscore how investors are weighing faster usage growth against a still‑negative 2025 loss guide. [12]
What’s driving the numbers
- Back‑to‑basics e‑commerce: Since late 2022, Jumia has exited non‑core activities and markets (e.g., South Africa and Tunisia in late 2024), refocusing on nine core countries and physical goods. This strategy has steadily reduced losses and sharpened unit economics, even as competition from Temu/Shein intensifies. [13]
- Category and regional mix: Physical‑goods growth continues to be the centerpiece, with Nigeria showing outsized traction (GMV +43% YoY in Q3). [14]
- Cost discipline: Fulfillment expense per order improved and G&A trended lower, helping narrow operating losses and adjusted EBITDA. [15]
Today’s schedule & near‑term catalysts
- Earnings call:8:30 a.m. ET, Wednesday, Nov. 12, 2025 (webcast available). Expect color on Q4 trading and holiday demand. [16]
- Investor Day:Thursday, Nov. 13, 2025 — deeper dives on long‑term strategy, logistics, and monetization. [17]
- Black Friday 2025: Jumia’s month‑long campaign (Nigeria example: Oct. 31–Nov. 30/Dec. 1) is underway and should be a key Q4 driver. Watch conversion rates, average order values and supply continuity. [18]
Quick take for investors
- The good: Double‑digit revenue (+25%) and GMV (+21%) growth, 34% order growth in core physical goods, improving adjusted EBITDA and operating loss, and clear milestones to 2026/2027 profitability. [19]
- The tension: FY‑2025 loss guidance (–$55M to –$50M) is still sizable, and the mix pivot away from digital orders depresses headline order counts even as it boosts revenue relevance. [20]
- What to watch next: Holiday execution (Black Friday/Cyber periods), marketplace take‑rate and retail media traction, Nigeria and Egypt momentum, and cash burn/lquidity cadence into 2026. [21]
Source notes
- Primary filings & materials (Nov 12, 2025): Jumia Q3’25 press release (Ex‑99.1) and SEC Form 6‑K; Q3 presentation; IR hub (reports, webcast). [22]
- Stock move snapshot: Nasdaq/RTTNews pre‑market update and live quote widget above. [23]
- Strategy context: Reuters and Financial Times reporting on Jumia’s pivot and profitability timeline. [24]
- Retail calendar: Guardian Nigeria on Black Friday 2025 timing. [25]
Disclosure: This article is for informational purposes only and is not investment advice.
References
1. www.sec.gov, 2. www.sec.gov, 3. www.sec.gov, 4. www.sec.gov, 5. www.sec.gov, 6. www.sec.gov, 7. www.sec.gov, 8. investor.jumia.com, 9. www.sec.gov, 10. www.sec.gov, 11. investor.jumia.com, 12. www.nasdaq.com, 13. www.reuters.com, 14. investor.jumia.com, 15. investor.jumia.com, 16. investor.jumia.com, 17. investor.jumia.com, 18. guardian.ng, 19. www.sec.gov, 20. www.sec.gov, 21. investor.jumia.com, 22. www.sec.gov, 23. www.nasdaq.com, 24. www.reuters.com, 25. guardian.ng
