Q3 2024 Jumia Technologies AG Earnings Call Transcript
Key Points
- Quarterly active customers grew year over year for the first time since Q3 2022, improving by 1% to 2 million.
- The 90-day repurchase rate increased by 304 basis points year over year, indicating higher customer retention.
- GMV grew by 29% in constant currency, showing strong underlying demand despite currency devaluations.
- Jumia successfully consolidated several warehouses into larger, more tech-enabled locations, enhancing logistics efficiency.
- The company completed an at-the-market offering, generating $94.7 million in net proceeds, strengthening its liquidity position.
- Revenue declined 13% year over year to $36.4 million, impacted by currency devaluations.
- Operating loss increased to $20.1 million in Q3 2024 from $18.3 million in Q3 2023.
- Adjusted EBITDA loss increased to $17 million from a loss of $14.8 million in the previous year.
- The relocation of fulfillment centers caused temporary disruptions and increased expenses in Q3 2024.
- Jumia exited operations in South Africa and Tunisia, incurring costs associated with market closures.
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Jumia's results conference call for the third quarter of 2024. (Operator Instructions) With us today are Francis Dufay, CEO of Jumia; and Antoine Maillet-Mezeray, Executive Vice President, Finance and Operations.
We'll start by covering the Safe Harbor. We would like to remind you that our discussions today will include forward-looking statements. Actual results may differ materially from those indicated in the forward-looking statements. Moreover, these forward-looking statements may speak only to our expectations as of today. We undertake no obligation to publicly update or revise these statements.
For a discussion of some of the risk factors that could cause actual results to differ from the forward-looking statements expressed today, please see the Risk Factors section of our annual report on Form 20-F as published on March 28, 2024, as well as our other submissions with the SEC.
In addition, on this call, we will refer to certain financial measures not reported in accordance with IFRS. You can find
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