Analysis of the quarterly figures for $JMIA (+0%) - Q2 2025 (period until June 30, 2025)
1. turnover & growth
Revenue rose to USD 45.6 million in the second quarter of 2025, which corresponds to an impressive increase of 25 % compared to Q2 2024 (or +22 % at constant exchange rates).
Gross Merchandise Volume (GMV) reached USD 180.2 million, which is +6 % (or +5 % in constant FX). Excluding the South African and Tunisian markets, GMV for physical goods grew by 10 % .
2. profitability & losses
The operating loss was reduced to USD 16.5 million, a decrease of 18 % compared to the previous year (or -21 % in constant FX).
Adjusted EBITDA loss decreased to USD 13.6m (-17% YoY or -19% in constant FX) .
The pre-tax loss amounted to USD 16.3 million, an improvement of 28 % compared to the previous year (-17 % in constant FX).
3. cash position & liquidity
Jumia has a liquidity position of USD 98.3 million, which has decreased by USD -12.4 million compared to Q1 2025 (in Q2 2024 it was only USD -8.7 million; compared to Q1 2025 with USD -23.2 million) .
At USD -12.7 million, operating cash flow was significantly more positive than in the first quarter (USD -21.2 million) and also better than Q2 2024 (USD -8.4 million), supported by a strong working capital contribution of USD +4.1 million.
4. key operating figures & market trends
Number of orders grew by 18% YoY, while active quarterly customers increased by 13
In Nigeria in Q2: orders increased by 25 %, GMV even increased by 36 % .
Sales of international items (cross-border) grew by 36 % YoY .
5. outlook & guidance
The Executive Board raised the forecast for the full year 2025:
Orders for physical goods to grow 25-30% YoY (previously 20-25%).
GMV is now expected to grow by 15-20% (previously 10-15%).
Expected pre-tax loss narrowed to USD -45 million to USD -50 million (previously USD -50 million to USD -55 million).
Long-term: break-even (before taxes) targeted in Q4 2026; full profitability planned for 2027 .
Conclusion and why I $JMIA (+0%) continue to buy
The company is delivering remarkable sales and GMV growth rates - especially in the core physical goods business.
Nigeria stands out as a strong growth driver, and cross-border sales are also booming.
The increased efficiency is reflected in falling losses, improved operating cash flow and a fuller liquidity base.
Strategy & future prospects:
The raised outlook for 2025 signals confidence in growth power and operational discipline.
The clearly communicated targets - break-even at the end of 2026, profitability in 2027 - create transparency for investors.
There are also other aspects such as the use of AI, etc.
🚀💎🦍$JMIA
