Jumia, the pan-African e-commerce marketplace, has reported a solid financial performance for the fourth quarter (Q4) ended December 31, 2025, reflecting accelerating revenue growth, improved operating efficiency, and a significant reduction in cash burn.
The company posted revenue of $61.4 million, up from $45.7 million in the fourth quarter of 2024, representing a 34% year-over-year increase, or 24% growth in constant currency. This growth was supported by rising order volumes, stronger customer engagement, and improved execution across its core markets.
Operating losses narrowed considerably to $10.6 million, compared to $17.3 million in the same period last year, marking a 39% year-over-year reduction. On an adjusted basis, Adjusted EBITDA loss declined to $7.3 million from $13.7 million, an improvement of 47% year-over-year, highlighting growing operating leverage as transaction volumes scaled.
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Loss before income tax also improved, falling to $9.7 million from $17.6 million in Q4 2024, a 45% year-over-year decline. Jumia ended the quarter with a liquidity position of $77.8 million, with cash usage of just $4.7 million, a sharp improvement compared to the $30.6 million decline recorded in the fourth quarter of 2024.
Net cash flow used in operating activities stood at $1.7 million, down significantly from $26.5 million in Q4 2024 and $12.4 million in Q3 2025. This performance was supported by a positive working capital contribution of $9.6 million, underscoring improved cash discipline.
Commenting on the report, Jumia CEO Francis Dufay said,
“We closed 2025 with clear momentum across the platform, delivering strong GMV and revenue growth, improving customer engagement, and continued progress on our path to profitability. Demand strengthened as the quarter progressed, driven by disciplined execution across our markets and, ongoing enhancements to our value proposition and customer experience, resulting in a successful Black Friday campaign. In the fourth quarter of 2025, we also meaningfully reduced cash burn, reflecting improving operating leverage as volumes scale and better working capital management.”
Operational Performance Highlights
Jumia’s operational performance in the Q4 remained robust. Orders grew 32% year-over-year, reflecting resilient consumer demand across key categories, while quarterly active customers ordering physical goods increased by 26%, signaling stronger retention and engagement.
Gross Merchandise Value (GMV) rose 38% year-over-year, driven by improved supply availability and execution, although this was partially offset by lower corporate sales in Egypt as Jumia continued to deprioritize that segment. Nigeria stood out as a key growth engine, delivering 33% growth in orders and 50% growth in GMV year-over-year.
International sourcing also gained traction, with gross items sold from international sellers increasing by 82%, supported by expanded direct sourcing capabilities and the opening of a new sourcing office in Yiwu, China.
Notably, in February 2026, Jumia announced its decision to cease operations in Algeria, a market that accounted for approximately 2% of GMV in 2025. While the exit is expected to have short-term financial impacts such as employee termination costs, lease termination costs, and asset liquidation, the company believes the move will enhance long-term operational efficiency.
By refining its geographic footprint, Jumia aims to concentrate resources on markets with stronger growth momentum and clearer profitability paths.
Focus on Profitability and Outlook
As Jumia enters its next phase of scaling, the company disclosed that Adjusted EBITDA will now serve as its primary profitability metric for guidance, as it more accurately reflects underlying operating performance and leverage. This shift does not alter Jumia’s broader economic objectives.
Looking ahead, CEO Dufay noted that in 2026 the company will prioritize scaling usage across existing markets, deepening customer engagement, and improving availability, affordability, and reliability across its platform.
He added,
“A more stable macro environment and local currencies provide a supportive backdrop for both consumers and vendors. We remain focused on unlocking operating leverage, optimizing our cost structure and refining our market footprint. Our priority is driving usage growth in our core markets with the objective of achieving Adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026 and delivering full-year profitability and positive cash flow in 2027.”
With revenue accelerating, losses narrowing, and cash burn significantly reduced, Jumia appears to be entering 2026 with improving fundamentals. Continued focus on core markets like Nigeria, disciplined cost management, and deeper customer engagement are expected to support its ambition of achieving Adjusted EBITDA breakeven by late 2026 and full-year profitability in 2027.