Jumia Technologies (JMIA) Q4 2025 earnings summary

Executive summary

• Achieved strong operational momentum in Q4 2025, with 36% GMV growth, 34% revenue growth to $61.4 million, and significant reduction in cash burn.

• Orders grew 32% and active customers increased 26% year-over-year, reflecting strong consumer demand and engagement.

• Nigeria led performance with 33% order growth and 50% GMV growth year-over-year.

• Opened a new office in Yiwu, China, to expand direct sourcing and diversify product assortment.

• Adjusted EBITDA loss narrowed to $7.3 million from $13.3 million in the prior year quarter, with quarterly cash burn reduced to $4.7 million.

Financial highlights

• Q4 2025 revenue: $61.4 million (+34% YoY); GMV: $279.5 million (+36% YoY); marketplace revenue: $31 million (+36% YoY).

• Gross profit was $34.2 million, up 43% year-over-year, with gross margin at 12.2% of GMV.

• Fulfillment expense per order declined 12% year-over-year to $1.97, reflecting productivity gains.

• Adjusted EBITDA loss improved to $7.3 million; loss before income tax was $9.7 million, a 45% decrease year-over-year.

• Liquidity at quarter-end was $77.8 million, with cash burn reduced to $4.7 million in Q4 2025.

Outlook and guidance

• 2026 GMV expected to grow 27–32% year-over-year, adjusted for perimeter effects.

• Adjusted EBITDA for 2026 projected between -$25 million and -$30 million.

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

• Exiting Algeria in Q1 2026, expecting one-time costs and short-term negative impact.

• Q1 2026 expected to see higher cash outflows due to seasonality and contract renewals.