Jumia Technologies AG has reported a strong third quarter for the period ending September 30, 2025, driven largely by performance in Nigeria and other core African markets. The e-commerce company posted revenue of $45.6 million, a 25% increase from $36.4 million in Q3 2024, while gross merchandise value (GMV) rose 21% year-over-year to $197.2 million. Excluding South Africa and Tunisia, physical goods GMV surged 26%, reinforcing Jumia’s sharpened focus on its strongest markets.
The company also made notable strides in operational efficiency. Operating loss dropped to $17.4 million, down from $20.1 million a year earlier, while adjusted EBITDA loss improved by 17% to $14.0 million. Jumia’s loss before income tax remained nearly unchanged at $17.7 million, reflecting the company’s disciplined approach to spending even as it scales. Liquidity closed the quarter at $82.5 million, slightly lower than previous levels but supported by improved cash management, with net operating cash outflow narrowing significantly to $12.4 million from $26.8 million last year.
Nigeria Leads the Surge
Nigeria once again proved to be Jumia’s engine room. Physical goods orders in the country grew 30%, while GMV jumped a remarkable 43% year-over-year — one of the strongest performances across the company’s portfolio. This reflects rising consumer confidence in the platform, better logistics efficiencies, and improved assortment availability.
Across the continent, physical goods orders climbed 30% to reach 5.6 million, while quarterly active customers increased 23%, highlighting Jumia’s growing customer loyalty and engagement. Cross-border commerce also gained momentum, with items sold from international sellers increasing 52% year-over-year.
As someone who closely follows Africa’s e-commerce evolution — and proudly contributed to these numbers as an active Jumia customer in Nigeria — this growth feels both validating and exciting. The platform’s product selection, faster delivery timelines, refund policy, and improved reliability signal that Jumia is starting to mature into the continental e-commerce giant it set out to be.
Efficiency Efforts, AI Upscaling, and Strategic Shifts
Jumia has continued to restructure for efficiency, reducing total headcount by 7% since December 2024 and tightening spend across fulfillment, general administration, and technology operations. The company is also leaning heavily into AI, deploying it across marketing, customer support, and internal processes to accelerate productivity.
The company’s strategy to pivot toward physical goods rather than digital products on the JumiaPay app is beginning to show results. While JumiaPay-related orders dipped, core e-commerce metrics grew strongly. Gross profit rose 4% to $23.8 million, though gross margin slightly declined due to softer corporate sales in Egypt. Marketing expenses increased as Jumia invested more in performance-driven, conversion-focused campaigns.
Path to Profitability Becoming Clearer
Looking ahead, Jumia expects full-year 2025 physical goods orders to grow 25–27%, with GMV projected to increase 15–17%. The company forecasts a loss before income tax of $50–55 million for the year but anticipates a dramatic improvement in 2026, aiming for a loss of $25–30 million and targeting breakeven by Q4 2026. Full-year profitability is expected in 2027.
CEO Francis Dufay described this period as an “inflection point” for the company, citing strong customer demand, disciplined execution, and a more focused value proposition.
From an industry perspective, this trajectory signals something important: African e-commerce — long viewed as risky, unstructured, and unpredictable — is finally maturing. Jumia’s results hint at a broader shift where improved logistics, payment systems, and customer trust are beginning to align in ways that could unlock scale on the continent.
If this quarter is any indication, Nigeria will remain the beating heart of that transformation.
