Jumia Technologies AG (NYSE:JMIA) Q3 2023 Earnings Call Transcript

Antoine Maillet-Mezeray: So mainly I’m going to do it. We remain committed to reducing our losses, improving our cash efficiency, and progressing towards profitable growth. Considering the meaningful expense reductions made in the nine months ended September 30, 2023, we currently expect the adjusted EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. This implies a 57% to 61% year overall reduction in adjusted EBITDA loss. Our initial guidance for adjusted EBITDA loss ranged from $100 million to $120 million. As you can see, we are ahead of our projections, thanks to strong execution. This quarter was an important for Jumia, as we believe it shows that we can achieve the ambition that we set about one year ago when we outlined our new strategy.

We have made steady progress on cash efficiency and our growth strategy is now developing positive signs. Going forward, we are focused on further improving our economics and achieving profitable growth. More than ever, we believe that we are doing the right thing to grow a profitable business, and we are confident in our ability to capture the amazing potential of e-commerce across Africa.

End of Q&A: Thank you. At this time, we will be conducting our question-and-answer session. [Operator Instructions] As we have no questions in queue, at this time, this concludes today’s conference. And you may disconnect your lines and we thank you for your participation.