ZH
Zhihu·NYSE
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ZH fundamentals
During Q4 2025, Zhihu (ZH) reported revenue of 92.02M, a YoY change of -21.82%. Net income was -30.14M, a YoY change of -354.65%. Click to view the full income statement and explore the company's earnings performance.
Income Statement
Q4,2019 | Q1,2020 | Q2,2020 | Q3,2020 | Q4,2020 | Q1,2021 | Q2,2021 | Q3,2021 | Q4,2021 | Q1,2022 | Q2,2022 | Q3,2022 | Q4,2022 | Q1,2023 | Q2,2023 | Q3,2023 | Q4,2023 | Q1,2024 | Q2,2024 | Q3,2024 | Q4,2024 | Q1,2025 | Q2,2025 | Q3,2025 | Q4,2025 | TTM |
|---|
Start Date | Oct 1, 2019 | Jan 1, 2020 | Apr 1, 2020 | Jul 1, 2020 | Oct 1, 2020 | Jan 1, 2021 | Apr 1, 2021 | Jul 1, 2021 | Oct 1, 2021 | Jan 1, 2022 | Apr 1, 2022 | Jul 1, 2022 | Oct 1, 2022 | Jan 1, 2023 | Apr 1, 2023 | Jul 1, 2023 | Oct 1, 2023 | Jan 1, 2024 | Apr 1, 2024 | Jul 1, 2024 | Oct 1, 2024 | Jan 1, 2025 | Apr 1, 2025 | Jul 1, 2025 | Oct 1, 2025 | -- |
End Date | Dec 31, 2019 | Mar 31, 2020 | Jun 30, 2020 | Sep 30, 2020 | Dec 31, 2020 | Mar 31, 2021 | Jun 30, 2021 | Sep 30, 2021 | Dec 31, 2021 | Mar 31, 2022 | Jun 30, 2022 | Sep 30, 2022 | Dec 31, 2022 | Mar 31, 2023 | Jun 30, 2023 | Sep 30, 2023 | Dec 31, 2023 | Mar 31, 2024 | Jun 30, 2024 | Sep 30, 2024 | Dec 31, 2024 | Mar 31, 2025 | Jun 30, 2025 | Sep 30, 2025 | Dec 31, 2025 | -- |
Fiscal Year-End | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | -- |
Revenue | 32.18M -- | 26.57M -- | 37.00M -- | 56.39M -- | 79.66M +147.54% | 73.00M +174.71% | 98.87M +167.23% | 127.80M +126.65% | 159.94M +100.77% | 117.24M +60.60% | 124.81M +26.24% | 128.17M +0.29% | 161.51M +0.98% | 144.77M +23.48% | 144.00M +15.37% | 140.10M +9.31% | 160.33M -0.73% | 133.08M -8.08% | 128.50M -10.77% | 120.41M -14.05% | 117.71M -26.58% | 100.55M -24.44% | 100.07M -22.12% | 92.56M -23.13% | 92.02M -21.82% | 385.21M -- |
Sales and Services Revenue | 31.54M -- | 25.77M -- | 35.29M -- | 54.16M -- | 77.72M +146.38% | 70.85M +174.96% | 95.59M +170.83% | 122.88M +126.89% | 153.17M +97.08% | 111.26M +57.04% | 118.74M +24.23% | 123.06M +0.14% | 153.61M +0.29% | 138.90M +24.84% | 138.78M +16.88% | 136.31M +10.77% | 153.57M -0.03% | 128.21M -7.70% | 125.26M -9.75% | 102.03M -25.15% | 164.98M +7.43% | 97.75M -23.75% | 95.88M -23.45% | 80.77M -20.84% | -- -- | -- -- |
Other Revenue | 639.06K -- | 805.84K -- | 1.70M -- | 2.23M -- | 1.95M +204.52% | 2.15M +166.83% | 3.28M +92.75% | 4.92M +120.89% | 6.77M +248.02% | 5.98M +178.11% | 6.07M +84.98% | 5.11M +3.88% | 7.90M +16.58% | 5.87M -1.83% | 5.22M -14.03% | 3.79M -25.88% | 6.76M -14.43% | 4.87M -17.05% | 3.24M -37.93% | 18.38M +385.55% | -47.27M -799.72% | 2.80M -42.55% | 4.19M +29.43% | 11.79M -35.88% | -- -- | -- -- |
Cost of Revenue | 14.46M -- | 15.52M -- | 19.11M -- | 23.97M -- | 28.62M +97.94% | 31.38M +102.18% | 40.55M +112.21% | 61.86M +158.05% | 84.64M +195.78% | 64.31M +104.92% | 65.15M +60.69% | 65.70M +6.19% | 70.38M -16.85% | 70.18M +9.13% | 66.49M +2.05% | 64.93M -1.17% | 65.52M -6.91% | 57.81M -17.64% | 51.91M -21.92% | 43.44M -33.09% | 43.64M -33.39% | 38.39M -33.60% | 37.51M -27.74% | 35.86M -17.46% | 42.71M -2.13% | 154.47M -- |
Cost of Goods and Services | 46.90M -- | -- -- | -- -- | -- -- | 83.68M +78.44% | -- -- | -- -- | -- -- | 203.35M +143.00% | -- -- | -- -- | -- -- | 239.67M +17.86% | -- -- | -- -- | 64.93M -- | 45.49M -81.02% | 57.81M -- | 51.91M -- | 43.44M -33.09% | 26.09M -42.64% | 38.39M -33.60% | 37.51M -27.74% | 35.86M -17.46% | -- -- | -- -- |
Other Cost | 4.56M -- | -- -- | -- -- | -- -- | 7.41M +62.49% | -- -- | -- -- | -- -- | 17.19M +131.88% | -- -- | -- -- | -- -- | 20.85M +21.28% | -- -- | -- -- | -- -- | 20.03M -3.90% | -- -- | -- -- | -- -- | 17.55M -12.41% | -- -- | -- -- | -- -- | -- -- | -- -- |
Gross Profit | 17.73M -- | 11.05M -- | 17.89M -- | 32.41M -- | 51.05M +187.99% | 41.62M +276.60% | 58.32M +226.00% | 65.94M +103.43% | 75.30M +47.50% | 52.93M +27.18% | 59.66M +2.29% | 62.47M -5.26% | 91.13M +21.03% | 74.58M +40.91% | 77.51M +29.93% | 75.17M +20.33% | 94.80M +4.03% | 75.27M +0.92% | 76.58M -1.20% | 76.97M +2.39% | 74.07M -21.87% | 62.16M -17.41% | 62.56M -18.31% | 56.70M -26.34% | -- -- | -- -- |
Operating Expenses | 57.54M -- | 40.84M -- | 40.20M -- | 51.53M -- | 67.06M +16.55% | 93.89M +129.89% | 112.61M +180.10% | 115.98M +125.08% | 134.18M +100.07% | 155.18M +65.28% | 128.43M +14.05% | 101.64M -12.37% | 122.49M -8.71% | 106.15M -31.60% | 122.64M -4.51% | 123.16M +21.18% | 119.90M -2.12% | 106.40M +0.24% | 101.88M -16.92% | 88.99M -27.75% | 72.45M -39.58% | 69.41M -34.76% | 75.27M -26.12% | 70.72M -20.53% | -- -- | -- -- |
Selling, General and Administrative Expenses | 44.62M -- | 28.61M -- | 28.38M -- | 40.15M -- | 54.44M +22.02% | 77.66M +171.49% | 93.93M +231.00% | 87.32M +117.47% | 101.54M +86.51% | 128.91M +65.99% | 95.05M +1.19% | 79.04M -9.49% | 91.68M -9.71% | 79.50M -38.33% | 90.06M -5.25% | 88.94M +12.53% | 87.14M -4.95% | 79.06M -0.55% | 73.08M -18.85% | 63.44M -28.67% | 52.36M -39.91% | 49.86M -36.93% | 54.93M -24.83% | 54.66M -13.85% | -- -- | -- -- |
Selling and Marketing Expenses | 110.10M -- | -- -- | -- -- | -- -- | 112.61M +2.28% | -- -- | -- -- | -- -- | 256.53M +127.81% | -- -- | -- -- | -- -- | 293.81M +14.53% | -- -- | -- -- | 73.24M -- | 74.31M -74.71% | 66.20M -- | 57.38M -- | 55.30M -24.50% | 43.32M -41.71% | 44.18M -33.25% | 45.54M -20.63% | 46.38M -16.13% | -- -- | -- -- |
General and Administrative Expenses | 36.38M -- | -- -- | -- -- | -- -- | 45.39M +24.76% | -- -- | -- -- | -- -- | 108.32M +138.65% | -- -- | -- -- | -- -- | 90.18M -16.75% | -- -- | -- -- | 15.70M -- | 12.83M -85.78% | 12.87M -- | 15.70M -- | 8.15M -48.13% | 9.04M -29.52% | 5.68M -55.87% | 9.39M -40.21% | 8.28M +1.66% | -- -- | -- -- |
Research and Development Expenses | 12.92M -- | 12.23M -- | 11.83M -- | 11.38M -- | 12.62M -2.33% | 16.22M +32.63% | 18.68M +57.97% | 28.66M +151.94% | 32.64M +158.60% | 26.27M +61.90% | 33.38M +78.68% | 22.60M -21.14% | 30.81M -5.61% | 26.64M +1.42% | 32.58M -2.40% | 34.22M +51.42% | 32.76M +6.33% | 27.33M +2.60% | 28.80M -11.59% | 25.54M -25.35% | 20.09M -38.69% | 19.55M -28.48% | 20.34M -29.40% | 16.06M -37.11% | -- -- | -- -- |
Operating Income | -39.81M -- | -29.79M -- | -22.31M -- | -19.12M -- | -16.02M +59.77% | -52.27M -75.47% | -54.29M -143.31% | -50.05M -161.79% | -58.88M -267.64% | -102.25M -95.62% | -68.77M -26.67% | -39.16M +21.74% | -31.36M +46.74% | -31.56M +69.13% | -45.13M +34.39% | -47.99M -22.52% | -25.09M +19.99% | -31.13M +1.37% | -25.30M +43.93% | -12.02M +74.96% | 1.63M +106.48% | -7.25M +76.71% | -12.70M +49.79% | -14.02M -16.68% | -- -- | -- -- |
Non-Operating Income (Loss) | 5.03M -- | 1.45M -- | 5.82M -- | 2.96M -- | 2.29M -54.52% | 2.79M +92.24% | 4.81M -17.35% | 8.22M +177.70% | -789.94K -134.51% | 5.73M +104.99% | -2.99M -162.10% | -2.30M -127.93% | 5.73M +825.88% | 6.20M +8.31% | 6.96M +333.23% | 9.79M +526.64% | 11.27M +96.46% | 8.34M +34.49% | 13.24M +90.16% | 10.60M +8.25% | 9.85M -12.59% | 5.82M -30.19% | 26.83M +102.62% | 7.57M -28.56% | -- -- | -- -- |
Gain (Loss) on Other Investment | 3.60M -- | -- -- | -- -- | -- -- | 8.60M +139.03% | -- -- | -- -- | -- -- | 9.29M +8.03% | -- -- | -- -- | -- -- | 10.20M +9.89% | -- -- | -- -- | 1.59M -- | 1.73M -83.05% | 2.34M -- | 3.00M -- | 1.95M +22.42% | 1.79M +3.37% | 2.67M +13.90% | 19.66M +555.05% | 5.20M +167.00% | -- -- | -- -- |
Gain (Loss) on Change in Fair Value | 1.02M -- | -- -- | -- -- | -- -- | -10.55M -1129.51% | -- -- | -- -- | -- -- | 4.37M +141.43% | -- -- | -- -- | -- -- | -25.62M -686.25% | -- -- | -- -- | -1.01M -- | 2.08M +108.13% | 1.30M -- | 4.32M -- | 981.39K +197.39% | 4.21M +102.03% | 0 -100.00% | 0 -100.00% | 0 -100.00% | -- -- | -- -- |
Gain (Loss) on Foreign Currency Exchange | -1.32M -- | -- -- | -- -- | -- -- | 9.60M +825.45% | -- -- | -- -- | -- -- | -2.62M -127.23% | -- -- | -- -- | -- -- | 10.40M +497.79% | -- -- | -- -- | -53.87K -- | -131.97K -101.27% | 16.62K -- | 39.77K -- | -156.32K -190.21% | 233.04K +276.58% | -13.23K -179.60% | -5.30K -113.34% | -6.04K +96.14% | -- -- | -- -- |
Other Non-Operating Income (Loss) | -72.25K -- | 59.46K -- | 4.77M -- | 2.47M -- | -6.00M -8200.52% | 2.29M +3744.97% | 3.53M -25.97% | 6.69M +171.05% | -13.38M -123.11% | 4.25M +85.98% | -4.55M -228.93% | -4.35M -164.98% | 5.86M +143.81% | 452.56K -89.36% | 1.45M +131.82% | 3.73M +185.83% | 2.12M -63.88% | 421.45K -6.87% | 2.19M +51.59% | 3.39M -9.12% | 15.48K -99.27% | 330.59K -21.56% | 4.34M +97.97% | -54.92K -101.62% | -- -- | -- -- |
Net Interest Expense | -1.81M -- | -1.39M -- | -1.05M -- | -491.34K -- | -633.72K +64.95% | -507.80K +63.57% | -1.28M -21.84% | -1.53M -211.13% | -1.55M -144.58% | -1.48M -190.61% | -1.56M -22.44% | -2.05M -34.24% | -4.88M -214.97% | -5.75M -289.68% | -5.51M -252.45% | -5.53M -169.58% | -5.47M -12.02% | -4.26M +25.91% | -3.68M +33.24% | -4.44M +19.80% | -3.60M +34.09% | -2.84M +33.34% | -2.83M +23.23% | -2.43M +45.21% | -- -- | -- -- |
Interest Income | 1.81M -- | 1.39M -- | 1.05M -- | 491.34K -- | 633.72K -64.95% | 507.80K -63.57% | 1.28M +21.84% | 1.53M +211.13% | 1.55M +144.58% | 1.48M +190.61% | 1.56M +22.44% | 2.05M +34.24% | 4.88M +214.97% | 5.75M +289.68% | 5.51M +252.45% | 5.53M +169.58% | 5.47M +12.02% | 4.26M -25.91% | 3.68M -33.24% | 4.44M -19.80% | 3.60M -34.09% | 2.84M -33.34% | 2.83M -23.23% | 2.43M -45.21% | -- -- | -- -- |
Pretax Income From Continuing Operations | -34.78M -- | -28.33M -- | -16.50M -- | -16.16M -- | -13.73M +60.53% | -49.48M -74.61% | -49.48M -199.93% | -41.83M -158.88% | -59.67M -334.69% | -96.52M -95.09% | -71.76M -45.01% | -41.46M +0.88% | -25.63M +57.05% | -25.36M +73.73% | -38.16M +46.82% | -38.19M +7.89% | -13.83M +46.04% | -22.78M +10.15% | -12.06M +68.39% | -1.41M +96.30% | 11.47M +182.96% | -1.43M +93.75% | 14.12M +217.07% | -6.45M -355.77% | -31.23M -372.23% | -24.98M -- |
Income Tax Expense | 3.16K -- | 99.28K -- | -63.55K -- | 50.22K -- | 74.33K +2252.12% | 81.96K -17.45% | 244.71K +485.06% | 47.02K -6.37% | 474.37K +538.21% | 378.28K +361.52% | 951.76K +288.93% | 373.23K +693.70% | 399.44K -15.80% | 703.16K +85.88% | 321.32K -66.24% | -35.09K -109.40% | 694.24K +73.80% | 177.83K -74.71% | -971.90K -402.47% | -135.23K -285.41% | -364.83K -152.55% | -32.11K -118.06% | 4.00M +511.92% | 119.40K +188.29% | -1.09M -198.24% | 3.00M -- |
Current Income Tax | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | 2.40M -- | -- -- | -- -- | -- -- | 2.20M -8.39% | -- -- | -- -- | -- -- | -872.14K -139.60% | -- -- | -- -- | -- -- | -- -- | -- -- |
Deferred Income Tax | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -347.97K -- | -- -- | -- -- | -- -- | -536.06K -54.06% | -- -- | -- -- | -- -- | -414.42K +22.69% | -- -- | -- -- | -- -- | -- -- | -- -- |
Net Income | -34.78M -- | -28.43M -- | -16.44M -- | -16.21M -- | -13.80M +60.32% | -49.56M -74.29% | -49.73M -202.58% | -41.87M -158.37% | -60.15M -335.79% | -96.90M -95.53% | -72.71M -46.21% | -41.83M +0.10% | -26.03M +56.73% | -26.06M +73.11% | -38.48M +47.07% | -38.16M +8.79% | -14.52M +44.20% | -22.96M +11.89% | -11.09M +71.18% | -1.28M +96.65% | 11.84M +181.51% | -1.39M +93.93% | 10.12M +191.23% | -6.57M -413.28% | -30.14M -354.65% | -27.98M -- |
Net Income Attributable to Minority Interests | -- -- | -- -- | -- -- | -- -- | 0 -- | -- -- | -- -- | -- -- | 0 -- | -- -- | -- -- | 364.10K -- | 23.78K -- | 346.99K -- | 106.88K -- | 39.61K -89.12% | 93.80K +294.50% | -131.57K -137.92% | 295.02K +176.04% | 215.74K +444.66% | 17.40K -81.45% | -1.93K +98.53% | -279.19 -100.09% | -12.36K -105.73% | -- -- | -- -- |
Net Income Attributable to Owners of the Company | -34.78M -- | -28.43M -- | -16.44M -- | -16.21M -- | -13.80M +60.32% | -49.56M -74.29% | -49.73M -202.58% | -41.87M -158.37% | -60.15M -335.79% | -96.90M -95.53% | -72.71M -46.21% | -42.20M -0.77% | -26.05M +56.69% | -26.41M +72.75% | -38.59M +46.92% | -38.20M +9.49% | -14.62M +43.89% | -22.83M +13.54% | -11.39M +70.50% | -1.49M +96.09% | 11.82M +180.87% | -1.39M +93.91% | 10.12M +188.87% | -6.55M -338.38% | -- -- | -- -- |
Preferred Stock Dividends | -37.94M -- | 23.37M -- | 24.42M -- | 25.47M -- | -78.31M -106.41% | 26.04M +11.39% | -- -- | -- -- | -26.77M +65.82% | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- |
Other Adjustments | 61.30M -- | -- -- | -- -- | -- -- | 104.33M +70.18% | -- -- | -- -- | -- -- | 26.77M -74.34% | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- |
Net Income Attributable to Common Stockholders | -58.15M -- | -51.81M -- | -40.86M -- | -41.67M -- | -39.82M +31.52% | -75.59M -45.91% | -49.73M -21.72% | -41.87M -0.48% | -60.15M -51.04% | -96.90M -28.19% | -72.71M -46.21% | -42.20M -0.77% | -26.05M +56.69% | -26.41M +72.75% | -38.59M +46.92% | -38.20M +9.49% | -14.62M +43.89% | -22.83M +13.54% | -11.39M +70.50% | -1.49M +96.09% | 11.82M +180.87% | -1.39M +93.91% | 10.12M +188.87% | -6.55M -338.38% | -- -- | -- -- |
Other Comprehensive Income | -5.89M -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- |
Total Comprehensive Income | -40.67M -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -14.52M -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- |
Total Comprehensive Income Attributable to Minority Interests | 61.30M -- | -- -- | -- -- | -- -- | 104.33M +70.18% | -- -- | -- -- | -- -- | 26.77M -74.34% | -- -- | -- -- | -- -- | 399.29K -98.51% | -- -- | -- -- | -- -- | 579.30K +45.08% | -- -- | -- -- | -- -- | 392.50K -32.25% | -- -- | -- -- | -- -- | -- -- | -- -- |
Total Comprehensive Income Attributable to Owners of the Company | -101.97M -- | -- -- | -- -- | -- -- | -205.61M -101.63% | -- -- | -- -- | -- -- | -253.06M -23.08% | -- -- | -- -- | -- -- | -189.62M +25.07% | -- -- | -- -- | -38.16M -- | -8.73M +95.40% | -22.96M -- | -11.09M -- | -- -- | -19.02M -118.00% | -1.39M +93.93% | 10.12M +191.23% | -- -- | -- -- | -- -- |
Basic EPS | -- -- | -0.81 -- | -0.63 -- | -0.63 -- | -0.6 -- | -1.06 -30.86% | -0.17 +73.02% | -0.14 +77.78% | -0.2 +66.67% | -0.32 +69.81% | -0.24 -41.18% | -0.14 -- | -0.09 +55.00% | -0.09 +71.88% | -0.13 +45.83% | -0.13 +7.14% | -0.05 +44.44% | -0.08 +11.11% | -0.04 +69.23% | -0.01 +92.31% | 0.05 +200.00% | -0.01 +87.50% | 0.04 +200.00% | -0.03 -200.00% | -0.13 -360.00% | -0.13 -- |
Basic EPS from Continuing Operations | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -0.39 -- | -- -- | -0.24 -- | -0.12 -- | -0.02 +94.87% | -- -- | -0.02 +91.67% | 0.13 +208.33% | -0.08 -300.00% | -- -- | -- -- |
Diluted EPS | -- -- | -0.81 -- | -0.63 -- | -0.63 -- | -0.6 -- | -1.06 -30.86% | -0.17 +73.02% | -0.14 +77.78% | -0.2 +66.67% | -0.32 +69.81% | -0.24 -41.18% | -0.14 -- | -0.09 +55.00% | -0.09 +71.88% | -0.13 +45.83% | -0.13 +7.14% | -0.05 +44.44% | -0.08 +11.11% | -0.04 +69.23% | -0.01 +92.31% | 0.05 +200.00% | -0.01 +87.50% | 0.04 +200.00% | -0.03 -200.00% | -0.13 -360.00% | -0.13 -- |
Diluted EPS from Continuing Operations | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -- -- | -0.39 -- | -- -- | -0.24 -- | -0.12 -- | -0.02 +94.87% | -- -- | -0.02 +91.67% | 0.12 +200.00% | -0.08 -300.00% | -- -- | -- -- |
You can ask Aime
What guidance did Zhihu's management provide for the next earnings period?What were the key takeaways from Zhihu's earnings call?What factors drove the changes in Zhihu's revenue and profit?What were the key takeaways from Zhihu’s earnings call?What is Zhihu's gross profit margin?What is the revenue and EPS growth rate for Zhihu year over year?Did Zhihu beat or miss consensus estimates last quarter?What is the market's earnings forecast for Zhihu next quarter?
