v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue [abstract]  
Revenue
21 Revenue
Revenue is comprised of the following:
For the three months ended June 30For the six months ended June 30
In thousands of USD2025202620252026
First-party sales23,629 22,826 41,409 45,896 
Third-party sales18,583 23,490 34,555 46,681 
Value-added services1,147 1,850 1,732 3,534 
Marketing and advertising1,852 3,490 3,352 5,658 
Other revenue431 337 855 786 
Revenue45,642 51,993 81,903 102,555 
The Group's primary sources of revenue are first-party sales and third-party sales.
Revenue was USD102,555 thousand in the six months ended June 30, 2026, compared to USD81,903 thousand in the six months ended June 30, 2025, an increase of 25.2%, reflecting sustained consumer demand and consistent execution across our platform. The growth rate was partly moderated by a higher share of third-party sales relative to first-party sales, as third-party transactions generate commission income rather than full sales revenue.
Revenue from first-party sales was USD45,896 thousand in the six months ended June 30, 2026, compared to USD41,409 thousand in the six months ended June 30, 2025, an increase of 10.8%, driven by increased volume growth moderated by supply and demand headwinds in higher value electronic items, alongside the strong pace of marketplace growth.
Third-party sales was USD46,681 thousand in the six months ended June 30, 2026, compared to USD34,555 thousand in the six months ended June 30, 2025, an increase of 35.1%. Growth was driven by strong execution in our marketplace business and supported by rising customer usage and higher effective take rates.
Marketing and advertising revenue was USD5,658 thousand in the six months ended June 30, 2026, compared to USD3,352 thousand in the six months ended June 30, 2025, an increase of 68.8%, reflecting continued growth in sponsored products and increased seller adoption of retail media advertising.
Value-added services revenue was USD3,534 thousand in the six months ended June 30, 2026, compared to USD1,732 thousand in the six months ended June 30, 2025, an increase of 104.0%, reflecting growth in warehousing fees. These increases were supported by higher volumes flowing through our storage infrastructure, largely attributable to demand from Chinese sellers, together with monetization of our warehousing services.
No single customer accounted for more than 10% of Group revenues for the six months ended June 30, 2026 and 2025.
The Group’s geographical distribution of revenue was as follows:
RevenueFor the three months ended June 30For the six months ended June 30
In thousands of USD2025202620252026
Ivory Coast11,795 12,260 22,262 26,399 
Nigeria9,680 11,893 15,954 24,646 
Egypt7,053 9,855 13,611 15,373 
Kenya5,671 6,248 9,744 13,558 
Morocco3,359 3,410 6,620 6,380 
Ghana3,436 4,637 5,072 8,570 
Senegal1,944 1,738 3,471 3,324 
Uganda1,577 1,874 3,031 3,655 
Other(1)
1,127 78 2,138 650 
Total45,642 51,993 81,903 102,555 
___________________________
(1) Other comprises Algeria, Dubai, South Africa, China and Tunisia.
No Revenue was recorded in Germany.