Jumia Technologies (JMIA) Q1 2026 earnings summary

Executive summary

• Q1 2026 saw revenue rise 39% year-over-year to $50.6 million, with GMV up 32% to $211.2 million, reflecting strong demand, broad-based growth, and improved monetization; physical goods accounted for nearly all orders.

• Adjusted EBITDA loss narrowed to $10.7 million from $15.7 million in Q1 2025, or $9.7 million excluding Algeria exit costs, reflecting a 32%–38% improvement; cash burn reduced to $15.3 million.

• Gross profit rose 48% year-over-year to $29.4 million, with gross profit margin expanding by 160 basis points to 13.9% of GMV, driven by marketplace monetization and operational leverage.

• Orders increased 31% and quarterly active customers rose 25%–26% year-over-year, with Nigeria delivering standout GMV growth of 42%.

• The company remains focused on achieving adjusted EBITDA breakeven and positive cash flow in Q4 2026, with full-year profitability targeted for 2027.

Financial highlights

• GMV grew 32% year-over-year to $211.2 million, with physical goods orders up 31% and average order value rising to $35.8.

• Revenue reached $50.6 million, up 39% year-over-year; marketplace revenue up 50%, first-party sales up 30%, and first-party sales made up 46% of total revenue.

• Gross profit was $29.4 million, up 48% year-over-year, with gross margin as a percentage of GMV increasing to 13.9%.

• Adjusted EBITDA loss improved to $10.7 million; loss before income tax was $17.8 million, impacted by non-cash FX losses.

• Liquidity at quarter-end was $62.6 million, with $61.5 million in cash and equivalents; net cash used in operating activities was $12.5 million.

Outlook and guidance

• Full-year 2026 GMV growth expected between 27%–32% year-over-year, adjusted for perimeter effects.

• Adjusted EBITDA for 2026 projected at -$25 million to -$30 million.

• Targeting adjusted EBITDA breakeven and positive cash flow in Q4 2026, with full-year profitability and positive cash flow in 2027.

• Q2 2026 GMV growth also projected at 27%–32% year-over-year.