JMIA Earnings: The Berlin-headquartered company reported earnings on May 11.
First-quarter revenue was down 6% on the year to 27.4 million euros ($33.47 million), below the 35.1-million-euro consensus estimate. Jumia announced that annual active consumers increased 7% to 6.9 million and orders were up 3% to 6.6 million.
Poignonnec told Benzinga that he expects user and transaction growth to accelerate over the next few quarters.
Jumia is focused on scaling and growing by building trust with its customers and improving selection, price and convenience, he said, adding that if the company is able to execute on those fronts, profitability will follow.
JMIA Price Action: Jumia traded as high as $69.89 and as low as $3.93 over a 52-week period.