Zhihu Inc. (ZH)
Zhihu Inc. operates an online content community in the People’s Republic of China. The company also offers technology, business support, and consulting services; information transmission, software, and information technology services; and information and marketing services. It also offers vocational training; and internet services, as well as holds audio-visual permit. Zhihu Inc. was founded in 2010 and is headquartered in Beijing, the People's Republic of China.
Sector: Services-Business Services, NEC
Industry: Internet Content & Information
Zhihu Inc.
NYSE:ZHCommunication Services · Internet Content & Information
-0.59%$3.37
AH Close$3.37+0.00%vs close
AH Close$3.37+0.00%vs close
Mkt Cap$281.78M
Float30.31M
O/S83.62M
Inst Own15.3%
SI2.7%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$400.9M
Net Income-$28.13M
Total Assets$778.71M
Free Cash Flow-$63.63M
Debt & Equity
Debt 2%
Equity 98%
Total Debt$10.8M
Total Equity$570.68M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:6Reverse splitMay 10, 20246 shares → 1
Balance Sheet Details
Assets$778.71M
Liabilities$197.39M
Accounts Receivable$61.8M
Accounts Payable$102.21M
Inventory$0
PP&E (Net)$7.11M
Goodwill$0
Intangible Assets$4.44M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $400.9M | $547.19M | $629.41M | $549.94M | $437.92M | $191.65M | $100.25M |
| YoY Growth | -26.7% | -13.1% | 14.5% | 25.6% | 128.5% | 91.2% | - |
| Cost of Revenue | $160.6M | $215.61M | $285.26M | $274.12M | $207.97M | $84.25M | $53.56M |
| Gross Profit | $240.3M | $331.58M | $344.15M | $275.82M | $229.94M | $107.41M | $46.69M |
| Gross Margin | 59.9% | 60.6% | 54.7% | 50.2% | 52.5% | 56.0% | 46.6% |
| Research and Development | $76.56M | $111.38M | $135.13M | $116.45M | $91.69M | $46.74M | $52.48M |
| Selling, General, and Administrative | $219.29M | $293.35M | $369.74M | $404.03M | $344.05M | $146.12M | $152.47M |
| Other | $1 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $295.85M | $404.73M | $504.87M | $520.48M | $435.74M | $192.86M | $204.95M |
| Operating Income (EBIT) | -$55.56M | -$73.15M | -$160.73M | -$244.66M | -$205.8M | -$85.45M | -$158.26M |
| Operating Margin | -13.9% | -13.4% | -25.5% | -44.5% | -47.0% | -44.6% | -157.9% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $44.25M | $17.24M | $23.79M | $10.21M | $4.69M | $3.71M | $4.3M |
| Other Income (Expense) | $30.26M | $46.03M | $36.65M | $6.03M | $14.39M | $12.25M | $8.12M |
| Income Before Tax (EBT) | -$25.3M | -$27.12M | -$124.07M | -$238.63M | -$191.4M | -$73.2M | -$150.14M |
| Income Tax Expense | $3.16M | -$1.43M | $1.77M | $2.16M | $805K | $153K | $6K |
| Net Income | -$28.13M | -$26.12M | -$126.46M | -$241.21M | -$192.21M | -$73.36M | -$150.15M |
| Net Income Margin | -7.0% | -4.8% | -20.1% | -43.9% | -43.9% | -38.3% | -149.8% |
| Supplementary Data | |||||||
| EPS | -2.37 | -1.89 | -8.47 | -15.68 | -18.35 | -12.85 | -10.12 |
| Diluted EPS | -2.37 | -1.89 | -8.47 | -15.68 | -18.35 | -12.85 | -10.12 |
| Weighted Average OS | 80.01M | 91.42M | 99.61M | 100.50M | 79.18M | 92.14M | 99.06M |
| EBITDA | -$21.57M | -$23.83M | -$120.26M | -$234.85M | -$188.19M | -$70.26M | -$147.11M |
| EBITDA Margin | -5.4% | -4.4% | -19.1% | -42.7% | -43.0% | -36.7% | -146.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $505.59M | $599.55M | $315.83M | $678.51M | $323.4M | $143.6M | $134.98M |
| Short-Term Investments | $130.65M | $128.77M | $503.17M | $260.21M | $757.86M | $320.67M | $396.28M |
| Cash and Short-Term Investments | $636.24M | $728.32M | $819M | $938.72M | $1.08B | $464.26M | $531.26M |
| Accounts Receivable | $61.8M | $74.39M | $102.39M | $128.79M | $148.26M | $74.94M | $37.76M |
| Inventory | $0 | $0 | $3.33M | $1.55M | $690K | $0 | $4.07M |
| Other Current Assets | $11.83M | $1.05M | $17.64M | $13.88M | -$215K | $7.75M | $9.32M |
| Total Current Assets | $709.87M | $822.25M | $956.17M | $1.1B | $1.25B | $557.73M | $584.98M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $7.11M | $2.34M | $7.65M | $16.1M | $20.45M | $1.7M | $6.08M |
| Goodwill | $0 | $18.94M | $28.65M | $18.94M | $11.04M | $0 | $0 |
| Intangible Assets | $4.44M | $8.18M | $18.39M | $12.03M | $10.24M | $3.52M | $5.24M |
| Long-Term Investments | $55.28M | $7.67M | $6.69M | $0 | $26.76M | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $2.01M | $93K | $1.2M | $3.37M | $2.12M | $967K | $1.03M |
| Total Long-Term Assets | $68.84M | $37.23M | $62.58M | $50.44M | $70.61M | $6.19M | $12.35M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $778.71M | $859.48M | $1.02B | $1.15B | $1.32B | $563.91M | $597.33M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $102.21M | $125.29M | $155.7M | $137.34M | $153.9M | $75.24M | $43.03M |
| Short-Term Debt | $5.25M | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $9.84M | $11.54M | $3.89M | $9.92M | $5.96M | $3.66M |
| Current Unearned Revenue | $27.91M | $35.31M | $45.51M | $53.32M | $35.94M | $23.99M | $16.06M |
| Other Current Liabilities | $21.06M | $7.06M | $64.84M | $21.09M | $20.23M | $45.55M | $3.58M |
| Total Current Liabilities | $190.28M | $228.58M | $291.67M | $273.58M | $284.5M | $152.1M | $114.39M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $4.08M | $1.02M | $3.38M | $1.74M | $2.1M | $0 | $0 |
| Other Long-Term Liabilities | $698K | $593K | $18.28M | $12.31M | $10.96M | $1.18B | $1.08B |
| Total Long-Term Liabilities | $7.11M | $1.89M | $22.21M | $20.56M | $25.38M | $1.18B | $1.08B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | -$1.18B | $0 |
| Total Liabilities | $197.39M | $230.47M | $313.88M | $294.14M | $309.89M | $152.1M | $1.2B |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $1.12M | $1.18B | $0 |
| Common Stock | $31K | $30K | $36K | $37K | $36K | $29K | $7K |
| Retained Earnings | -$1.36B | -$1.33B | -$1.31B | -$1.18B | -$941.62M | -$741.89M | -$590.64M |
| Comprehensive Income & Other | -$4.95M | $1.92M | -$2.68M | -$9.87M | -$50.84M | -$29.37M | -$7.89M |
| Other Stockholders' Equity | $1.93B | $1.95B | $2B | $2.03B | $1.95B | $1.15B | -$7.89M |
| Total Equity | $570.68M | $620.09M | $689.6M | $847.6M | $1.01B | $411.81M | -$598.52M |
| Minority Interest | $10.64M | $8.93M | $15.26M | $6.08M | $1.12M | $0 | $0 |
| Total Liabilities and Equity | $768.07M | $850.55M | $1B | $1.14B | $1.32B | $563.91M | $597.33M |
| Supplementary Data | |||||||
| Total Debt | $10.8M | $2.87M | $6.86M | $14.48M | $18.39M | $434K | $3.84M |
| Net Debt | -$494.79M | -$596.68M | -$308.97M | -$664.04M | -$317.33M | -$143.16M | -$131.14M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$125.86M | -$25.33M | -$125.86M | -$236.63M | -$194.73M | -$77.59M | -$150.55M |
| Depreciation & Amortization | $3.73M | $3.29M | $3.81M | $3.78M | $3.22M | $2.94M | $3.03M |
| Deferred Income Tax | -$571K | -$454K | -$571K | -$360K | -$164K | $0 | $0 |
| Stock-Based Compensation | $24.69M | $8.88M | $24.69M | $56.05M | $82.23M | $27M | $26.94M |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $9.66M | $31.22M | $9.66M | -$19.92M | -$56.17M | -$38.54M | -$9.39M |
| Inventory | $0 | $0 | $0 | $0 | $4.38M | $5.59M | $8.15M |
| Accounts Payable | $33.02M | -$27.49M | $33.02M | -$2.38M | $78.59M | $32.2M | $5.79M |
| Other Working Capital | -$6.65M | -$16.39M | -$6.65M | $2.23M | $16.88M | -$758K | $8.25M |
| Total Working Capital Change | $36.02M | -$12.66M | $36.02M | -$20.06M | $43.69M | -$1.51M | $12.81M |
| Other Non-Cash Items | -$304K | -$15.73M | -$382K | $30.07M | -$237K | $12.52M | $503K |
| Net Cash from Operating | -$62.3M | -$42.01M | -$62.3M | -$167.15M | -$66M | -$36.64M | -$107.27M |
| Investing Activities | |||||||
| Capital Expenditures | -$1.27M | -$409K | -$1.27M | -$107K | -$1.12M | -$293K | -$862K |
| Acquisitions | -$9.53M | $1.82M | -$9.53M | -$9.09M | -$4.97M | $0 | $183K |
| Purchases of Investments | -$1.54B | -$1.47B | -$1.54B | -$2.14B | -$1.71B | -$1.27B | -$706.61M |
| Sales of Investments | $1.29B | $1.85B | $1.29B | $2.67B | $1.24B | $1.34B | $392.24M |
| Other Investing Activities | -$57K | $4K | -$57K | $18K | $0 | $1K | -$156K |
| Net Cash from Investing | -$252.04M | $384.19M | -$252.04M | $523.29M | -$470.22M | $64.48M | -$315.2M |
| Financing Activities | |||||||
| Debt Repaid | - | - | - | - | - | - | - |
| Common Stock Issuance | $677K | $0 | $0 | $0 | $727.6M | $0 | $0 |
| Common Stock Repurchases | -$55.41M | -$60.07M | -$55.41M | -$19.18M | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$473K | -$4.57M | $2.94M | $3.44M | $1.39M | -$2.02M |
| Net Cash from Financing | -$54.73M | -$60.55M | -$54.73M | -$16.24M | $731.05M | $1.39M | $449.4M |
| Forex Effect | $6.37M | $2.23M | $6.37M | $15.22M | -$15.02M | -$20.62M | $1.12M |
| Net Change in Cash | -$362.69M | $283.86M | -$362.69M | $355.11M | $179.8M | $8.62M | $28.04M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$62.3M | -$42.01M | -$62.3M | -$167.15M | -$66M | -$36.64M | -$107.27M |
| Capital Expenditure | -$1.33M | -$409K | -$1.33M | -$107K | -$1.12M | -$293K | -$862K |
| Free Cash Flow | -$63.63M | -$42.41M | -$63.63M | -$167.26M | -$67.12M | -$36.94M | -$108.13M |
| Cash at Beginning | $678.51M | $315.83M | $678.51M | $323.4M | $143.6M | $134.98M | $106.94M |
| Cash at End | $315.83M | $599.69M | $315.83M | $678.51M | $323.4M | $143.6M | $134.98M |