Daraz is still losing money on a large scale, but the figures reported for FY2024 do not show its annual loss getting worse. TechJuice’s November 18, 2025 report puts Daraz’s FY2024 net loss at $129.4 million, down from $144.4 million in FY2023. The headline’s word “intensifies” is therefore not supported by that year-over-year comparison. The stronger case for a deepening problem rests on 2025 estimates that the report itself labels as estimates or anecdotal observations.
Every Daraz figure below is attributed to TechJuice’s report, which says it comes from Daraz Group financial statements. The report does not link those statements, and none of the numbers here has been independently checked against them.
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
|
Amazon eGift Card - Amazon Logo | $50.00 | Buy on Amazon |
| 2 |
|
$500 Apple Gift Card—Email Delivery - Season's greetings | $500.00 | Buy on Amazon |
| 3 |
|
Visa Physical Gift Card $200 (plus $6.95 Purchase Fee) | $206.95 | Buy on Amazon |
| 4 |
|
DoorDash eGift Card | $75.00 | Buy on Amazon |
| 5 |
|
Visa Physical Gift Card $100 (plus $5.95 Purchase Fee) | $105.95 | Buy on Amazon |
What the reported FY2024 numbers say
The table sets out the FY2023 and FY2024 figures TechJuice reports. Where the report does not state a value, the cell says so rather than filling it in.
| Metric (Daraz Group, as reported by TechJuice) | FY2023 | FY2024 | Change as reported |
|---|---|---|---|
| Revenue | $125.9 million | $127.3 million | +1.5% |
| Net loss | $144.4 million | $129.4 million | Narrower |
| Gross profit | Not stated | $15.2 million (12% gross margin) | Not stated |
| Cost of revenue | Not stated | $112 million | Down 11.6% |
| Other expenses | Not stated | $146.3 million | Up 9.8% |
| Payroll | Not stated | $87.5 million | Up 17% |
The net loss narrowed in FY2024
The net loss fell by $15 million, or about 10%, from $144.4 million to $129.4 million. A reader who sees “loss-making streak” and “intensifies” should note that the reported net loss is smaller in the later year. A continuing loss is a different claim from a worsening one, and the reported figures support only the first.
#1 Best Overall
- Amazon.com Gift Cards never expire and carry no fees.
- Multiple gift card designs and denominations to choose from.
- Redeemable towards millions of items store-wide at Amazon.com or certain affiliated websites.
- Available for immediate delivery. Gift cards sent by email can be scheduled up to a year in advance.
- No returns and no refunds on Gift Cards.
The comparison does not establish why the loss narrowed. The report gives no bridge between the two years, and it does not state FY2023 gross profit or the FY2023 breakdown of expenses.
Revenue grew slightly but remains well below the peak
TechJuice reports FY2024 revenue of $127.3 million against $125.9 million in FY2023, a gain of $1.4 million. The report gives 1.5% as the growth rate. The rounded figures it prints produce about 1.1%, so the 1.5% probably reflects unrounded statement values. Treat the growth rate as approximate, and treat “roughly flat” as the safer description.
Against the reported FY2022 peak of $153.9 million, FY2024 revenue is $26.6 million lower, or about 17%. That is the more significant revenue trend in the report: a sustained decline from the 2022 level, with a small recovery since.
Rank #2
- For all things Apple - products, accessories, apps, games, music, movies, TV shows, iCloud+, and more.
- Perfect for App Store purchases and subscriptions—get apps, games, music, movies, TV shows, and more.
- The perfect gift to say happy birthday, thank you, congratulations, and more.
- Available in $15 - 500, Card delivered via email or SMS
- Use it for purchases at any Apple Store location, on the Apple Store app, apple.com, the App Store, iTunes, Apple Music, Apple TV, Apple News+, Apple Books, Apple Arcade, iCloud+, Fitness+, Apple One, and other Apple properties in US only
Where the loss comes from
Gross profit was $15.2 million in FY2024. Other expenses were $146.3 million. Subtracting the second figure from the first gives about negative $131.1 million, close to the reported net loss of $129.4 million. The gap of roughly $1.7 million is not explained in the report, so the exact path from gross profit to net loss is not stated.
Do these 3 things before closing this tab:
1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteThe scale of the cost base matters more than any single line. Payroll alone, at $87.5 million, is about 5.8 times FY2024 gross profit. Gross profit covers only a small fraction of operating costs, which is why the business depends on other funding to absorb the gap.
The report’s percentages also allow an implied estimate of FY2023 values. These are derived from the stated changes, not reported directly:
Rank #3
- Gift Cards are shipped active and ready for use.
- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- To access your card information safely, type the complete website address shown on your Gift Card (MyGift.GiftCardMall.com) directly into your browser's address bar. Don't use search engines or shortened versions of the website address, as these may lead you to fake or fraudulent sites. Do not provide any Gift Card details (example: Card Number) to someone you do not know or trust. If you believe you've reached an illegitimate website, contact cardholder service at 1-888-524-1283. Be cautious of phishing sites, there are a variety of scams in which fraudsters try to trick others into paying with gift cards.
- To report your Lost or Stolen Physical Visa Card, call Customer Service 24/7 at 1 (888) 524-1283 to cancel your Gift Card as soon as you can. You will be asked to provide the Gift Card number and other identifying information.
- Use your Visa Gift Card in the U.S. everywhere Visa debit cards are accepted, including online.
- Cost of revenue of about $126.7 million in FY2023 (FY2024’s $112 million, down 11.6%).
- Other expenses of about $133.2 million in FY2023 (FY2024’s $146.3 million, up 9.8%).
- Payroll of about $74.8 million in FY2023 (FY2024’s $87.5 million, up 17%).
If the implied cost of revenue is right, FY2023 cost of revenue slightly exceeded FY2023 revenue of $125.9 million, which would mean a small gross loss that year. That is a calculation from the report’s percentages, not a figure the report states, and it depends on the same statements that have not been checked.
Cost control: a mixed picture
The title’s “cost-control efforts” are only partly visible in the reported numbers. Cost of revenue fell 11.6%. Other expenses rose 9.8%, and payroll rose 17%. By the report’s own figures, costs that are not cost of revenue grew faster than revenue, so cost control did not reduce the total cost base in FY2024.
Quick wins for a faster PC:
Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →The company’s stated direction is older than these numbers. In a 2021 interview with The Business Standard, founder and then-CEO Bjarke Mikkelsen named two priorities for reaching profitability:
Rank #4
- Get thousands of restaurants, convenience stores, pet stores, grocery stores, gifts, and more at your fingertips.
- Easy ordering, order customizations, and real-time tracking
- Pickup, group order, and scheduled delivery options available
- No returns and no refunds on gift cards.
“One, driving down the logistic costs because it is the biggest cost that we have in the whole ecosystem. Then, we want to offer more value-added services to customers and sellers that we can charge for.”
That is a statement of priorities from 2021. The available reporting does not show which measures were carried out, how much they cost, or what effect they had on the later figures. TechJuice’s view that cost control has not yet produced profitability is the report’s own analysis, not an independently confirmed finding. The report also describes a shift toward logistics and marketplace commissions; those changes are not quantified in the material available.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Alibaba funding and cumulative losses
TechJuice reports that Alibaba injected $129 million into Daraz in FY2024 and converted $29 million of loans into equity. The same report puts cumulative losses since inception at approximately $750 million. The funding figure is close in size to the FY2024 net loss, but the report does not link the two, and nothing here shows that the injection covered that year’s loss specifically.
Best Value
- Gift Cards are shipped active and ready for use.
- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- To access your card information safely, type the complete website address shown on your Gift Card (MyGift.GiftCardMall.com) directly into your browser's address bar. Don't use search engines or shortened versions of the website address, as these may lead you to fake or fraudulent sites. Do not provide any Gift Card details (example: Card Number) to someone you do not know or trust. If you believe you've reached an illegitimate website, contact cardholder service at 1-888-524-1283. Be cautious of phishing sites, there are a variety of scams in which fraudsters try to trick others into paying with gift cards.
- To report your Lost or Stolen Physical Visa Card, call Customer Service 24/7 at 1 (888) 524-1283 to cancel your Gift Card as soon as you can. You will be asked to provide the Gift Card number and other identifying information.
- Use your Visa Gift Card in the U.S. everywhere Visa debit cards are accepted, including online.
These are the report’s figures, drawn from the Daraz Group statements it cites. Alibaba’s group-level filings do not isolate Daraz. Alibaba’s FY2026 Form 20-F, filed with the U.S. Securities and Exchange Commission, reports results for the whole group. Parent-group totals cannot be read as Daraz results, and Daraz’s own losses cannot be inferred from them.
Later claims: estimates, not established results
The report attributes 2025 pressure to several causes: a traffic decline, competition from Temu, tax changes, weaker macroeconomic conditions, and internal inefficiencies. The report labels the traffic and market data as estimates or anecdotal observations. Its October 2025 revenue estimate for Daraz.pk is likewise an estimate, not a reported result. None of these claims has been verified against company statements, and they should not be treated as established causes of the losses.
Internal inefficiency is the report’s explanation of why cost control has not worked. It is a plausible reading of the cost figures above, but the report does not document specific inefficiencies.
Quick Recap
What is not yet established
- Standalone Daraz results for FY2025 and FY2026. The November 2025 report says full FY2025 financials had not been released at that time. We did not locate an independently verified standalone result for either year.
- Which markets the reported Daraz totals cover. The report presents them as Daraz Group figures and does not break them down by country in the material available.
- Whether the narrower FY2024 net loss reflects a durable change. One year’s comparison cannot show a trend.
What this means for readers
- Shoppers should not read the loss figures as a sign of near-term service changes. The report does not address customer-facing outcomes.
- Sellers should check current commission and logistics fee schedules directly on the platform. The report describes a shift toward these charges, but it does not list current rates.
- Investors cannot judge Daraz from Alibaba’s group filings. The standalone Daraz statements the report cites are the more relevant source, and they should be checked directly.
Sources
- TechJuice, “Alibaba-Owned Daraz’s Loss-Making Streak Intensifies Despite Cost-Control Efforts,” November 18, 2025. Secondary reporting; attributes FY2023–FY2024 figures to Daraz Group financial statements, which it does not link.
- Alibaba Group Holding Limited, FY2026 Form 20-F, filed with the U.S. Securities and Exchange Commission. Group-level reporting only.
- The Business Standard, 2021 interview with Daraz founder and then-CEO Bjarke Mikkelsen. Historical statement of priorities.
“
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
Free tools Windows power users keep installed
One-click scans. No signup required.
