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Jumia Technologies AG - JMIA STOCK NEWS

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Jumia Technologies AG (NYSE: JMIA) is the leading pan-African e-commerce platform. Established in 2012 and headquartered in Africa, Jumia connects sellers with consumers through its robust marketplace. Its operations span 11 African countries, making it a key player in the continent's online retail space. The platform is comprised of a marketplace that offers a wide range of goods and services, a logistics service that facilitates the shipment and delivery of packages, and JumiaPay, a proprietary payment service that simplifies transactions in selected markets.

Jumia's core business revolves around diverse categories such as online retail, real estate, vehicle marketplaces, and more. The company is committed to improving the quality of everyday life in Africa by leveraging technology to deliver convenient and affordable online services. Recent strategic shifts have seen Jumia streamline its focus onto its physical goods business, discontinuing its food delivery service, Jumia Food, to optimize capital and resources for profitability.

Jumia has made significant strides towards financial stability and growth. For the third quarter of 2023, the company reported an adjusted EBITDA loss of $14.9 million, a substantial reduction from $45.5 million in the same period the previous year. The company continues to enhance cash efficiency and aims to achieve profitable growth, with forecasts indicating further reductions in losses for the fiscal year 2023.

The company is also exploring innovative payment solutions, such as its recent partnerships in Nigeria to offer Buy Now, Pay Later (BNPL) options through Newedge (Easybuy) and CredPal. These initiatives are designed to boost e-commerce adoption and financial inclusion across the continent.

Jumia's mission is to bridge the gap between brands and consumers, ensuring a consistent supply of goods at competitive prices. As Jumia continues to grow, it remains focused on expanding its logistics network, improving operational efficiency, and delivering a superior shopping experience for its customers.

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Jumia Technologies (NYSE:JMIA), a prominent e-commerce platform in Africa, is set to participate in the Northland Virtual Growth Conference on June 25, 2024. The announcement made on June 18, 2024, highlighted that Francis Dufay, Chief Executive Officer, and Antoine Malliet-Mezeray, Executive Vice President of Finance and Operations, will represent Jumia in one-on-one meetings at the event. Interested parties are encouraged to contact their Northland representative to arrange a meeting with the Jumia executives.

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Jumia (NYSE:JMIA), a leading African e-commerce platform, has opened two new integrated warehouses. These include a 30,000 square meter facility in Isolo, Lagos, Nigeria, and a 5,000 square meter facility in Bouskoura, near Casablanca, Morocco. This expansion aims to enhance Jumia's logistics capabilities, improve efficiency, reduce costs, and shorten delivery times. The centralized locations of both warehouses are expected to streamline order processing and boost local economies through job creation. According to CEO Francis Dufay, these facilities will help Jumia meet the rising e-commerce demand in Africa by increasing storage capacity and expanding product range.

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Jumia, Africa's leading e-commerce platform (NYSE:JMIA), has announced two new Buy Now, Pay Later (BNPL) partnerships in Nigeria with Easybuy and CredPal. These collaborations aim to enhance Nigerian consumers' access to Jumia's marketplace by enabling them to make purchases and pay over time, thus promoting cashless payments. Sunil Natraj, CEO of Jumia Nigeria, emphasized that these partnerships align with Jumia's mission to broaden payment options and foster financial inclusion. The initiative is expected to drive e-commerce adoption, meet growing consumer demand, and support Jumia's journey toward profitability.

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Jumia Technologies AG (NYSE:JMIA) reported strong financial results for the first quarter of 2024, with revenue of $49 million, up 19% year-over-year, and GMV of $181 million, up 5% year-over-year. The operating loss decreased by 71% year-over-year, and adjusted EBITDA loss decreased by 83% year-over-year. The liquidity position was $101 million, showing disciplined cost management and improvements in cash utilization. Despite challenging macro environments in some markets, Jumia's strategic efforts resulted in growth and efficiency improvements.

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Jumia Technologies AG (NYSE: JMIA) will announce its first-quarter 2024 results on May 7, 2024. The management will discuss the results in a conference call at 8:30 a.m. ET on the same day. Interested parties can access the call through specific dial-in details provided. A live webcast will also be available on the Jumia Investor Relations website.
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Jumia Technologies AG (JMIA) filed its Annual Report on Form 20-F for 2023 with the SEC, offering insights into its financial performance and operations. Investors can access the report online or request a hard copy for free.
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Jumia Technologies AG (NYSE:JMIA) reported improved growth trends and a significant reduction in operating loss for the fourth quarter of 2023. Despite a 2% year-over-year decline in revenue, there was a 28% increase in constant currency. Operating loss decreased by 90% year-over-year. The company's liquidity position improved, showing a decrease in cash utilization. Jumia focused on efficiency, better unit economics, and reduced marketing spend to drive growth in 2024.
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Jumia Technologies AG (NYSE:JMIA) will release its Q4 and full year 2023 results on February 15, 2024. A conference call will be hosted at 8:30 a.m. US Eastern Time on the same day. Details for the call are provided for US, international, and UK participants. A live webcast and archived webcast will be available on the Jumia Investor Relations website.
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Jumia Technologies AG (NYSE:JMIA) is closing its food delivery business, Jumia Food, due to unsuitable market conditions and macroeconomic environment. The company will focus on its core physical goods business and JumiaPay. The food delivery business represents approximately 11% of Jumia's GMV for the nine months ended September 30, 2023 and has not been profitable since inception.
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Jumia Technologies AG (NYSE:JMIA) announced its financial results for Q3 2023, reporting a revenue of $45 million, down 11% year-over-year, and a GMV of $181 million, down 25% year-over-year. The company achieved a significant decrease in operating and EBITDA losses, and a liquidity position of $147 million. CEO Francis Dufay highlighted a shift towards cash efficiency and profitable growth, focusing on core physical goods business and reducing marketing expenses.
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FAQ

What is Jumia Technologies AG?

Jumia Technologies AG is the leading pan-African e-commerce platform, connecting consumers with sellers across 11 African countries.

What services does Jumia offer?

Jumia offers a marketplace for a wide range of goods and services, a logistics service for shipping and delivery, and JumiaPay for online transactions.

What recent strategic changes has Jumia implemented?

Jumia has discontinued its food delivery service, Jumia Food, to focus on its core physical goods business, optimizing resources for profitability.

How did Jumia perform financially in the third quarter of 2023?

Jumia reported an adjusted EBITDA loss of $14.9 million, a significant reduction from $45.5 million in the third quarter of 2022, indicating improved cash efficiency.

What is Jumia’s strategy for growth?

Jumia aims to expand its logistics network, improve operational efficiency, and enhance its marketplace offering by focusing on core goods and strategic partnerships.

What are the benefits of JumiaPay?

JumiaPay provides a safe and easy way to facilitate online payment transactions on the Jumia platform, and it aims to integrate additional financial services in the future.

Where is Jumia headquartered?

Jumia is headquartered in Africa and operates across 11 African countries.

What types of products can be found on Jumia’s marketplace?

Jumia’s marketplace offers a broad range of categories including phones, electronics, home appliances, fashion, beauty, and fast-moving consumer goods.

How does Jumia support financial inclusion in Africa?

Jumia supports financial inclusion by partnering with fintech companies like Newedge (Easybuy) and CredPal to offer Buy Now, Pay Later options, thereby increasing e-commerce accessibility.

What is Jumia’s mission?

Jumia’s mission is to improve the quality of everyday life in Africa by leveraging technology to deliver innovative, convenient, and affordable online services to customers while helping businesses grow.

Jumia Technologies AG

NYSE:JMIA

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1.27B
202.28M
0.19%
18.84%
4.82%
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