TOKYO -- In its initial quarter after listing on the Japanese stock market, flea market app Mercari has yet to demonstrate a viable pathway to profitability, a predicament that has wiped 40% off its market value.
Mercari reported Thursday a consolidated net loss of 2.8 billion yen ($24.6 million) for the three months ended September, a deterioration from the 2.1 billion yen loss logged a year earlier.
