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Mar 31
Zhihu Q1 2025 Earnings Report
Zhihu reported narrowed net losses and posted its first-ever first-quarter non-GAAP profitability.
Key Takeaways
Zhihu Inc. showed a notable improvement in Q1 2025, with a net loss significantly reduced from the prior year and the company achieving non-GAAP profitability for the first time in a first quarter.
Revenue totaled $100,552,000, down from $132,404,000 a year earlier.
Net loss narrowed to $1,392,000, a 93.9% improvement year-over-year.
Zhihu achieved a non-GAAP net income of $957,000 in Q1 2025.
Gross margin expanded to 61.8% thanks to improved efficiency and monetization.
Zhihu
Zhihu
Zhihu Revenue by Segment
Revenue by Segment
Marketing Services Revenue
CapyFin.comPaid Membership Revenue
CapyFin.comVocational Training Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Zhihu plans to maintain its profitability momentum and further develop its AI integration and monetization strategies.
Positive Outlook
- Company achieved non-GAAP net income for Q1 for the first time since IPO.
- Gross margin expanded significantly year-over-year.
- Operational efficiency improved across departments.
- AI integration driving user engagement and content quality.
- Focused business adjustments aimed at long-term profitability.
Challenges Ahead
- Overall revenue declined compared to Q1 2024.
- Marketing services revenue saw a sharp drop.
- Vocational training revenue weakened due to reduced contribution from acquired businesses.
- Subscribing member base slightly declined.
- Net loss persisted despite strong non-GAAP performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income