Jumia expects losses not to exceed $100M this year, per Q3 financials

In the first quarter of 2023, we reported that Jumia recorded its lowest losses in four years. Its adjusted EBITDA and operating losses dropped to $27 million and $30.9 million. Those numbers represented a 55% and 57% decrease year-over-year, on track to meet the company’s end-of-year target of $100-120 million in adjusted losses.
Surprisingly, Jumia’s Q2 2023 financials show that the e-commerce giant outperformed its first-quarter efforts in this regard. The company’s adjusted EBITDA and operating losses fell 66% to $19.3 million and $23.3 million; as a result, Jumia has lowered i

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