Aug. 15 at 12:46 AM
Jumia Technologies ended the week little changed after Q2 results showed improving unit economics and a
$50M capital raise, although macro headwinds forced the company to lower its full-year GMV growth outlook.
Q2 revenue rose 14% YoY to
$52M, while adjusted EBITDA loss narrowed 36% to
$8.7M, beating consensus. Gross margins improved to 14.2% of GMV, supported by stronger marketplace monetization and active usage.
Jumia raised
$50M through a private placement at
$5.52 per share, including a
$25M anchor investment from the International Finance Corporation. CEO Francis Dufay said the raise was driven by the strategic opportunity to bring in IFC rather than liquidity concerns. The company ended June with
$48.3M in cash.
Full-year GMV growth guidance was cut to 20%-30% from 27%-32% due to memory-chip and CPU shortages, as well as Middle East-related disruptions.
$JMIA