Zhihu Inc. income statement

In fiscal 2025, Zhihu Inc. reported revenue of $383m, down 23.5% on the year before, operating income of −$70.6m (a -18.5% margin) and net income of −$26.8m, or −$0.33 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Zhihu Inc.: income statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	97	196	459	537	593	500	383
Cost of revenue	52	86	218	268	269	197	153
Gross profit	45	110	241	269	324	303	229
Research and development	51	48	96	114	127	102	73
Selling and marketing	111	106	253	302	289	222	174
General and administrative	37	43	107	93	59	46	35
Operating income	−153	−87	−216	−239	−152	−67	−71
Income before tax	−145	−75	−201	−233	−117	−25	−24
Income tax	0	0	1	2	2	−1	3
Net income	−145	−75	−201	−235	−119	−24	−27
Diluted EPS	—	—	—	−$2.32	−$1.20	−$0.26	−$0.33
Diluted shares (average)	21m	22m	80m	102m	100m	91m	80m
EBITDA	−150	−85	−212	−235	−148	−64	−68

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Zhihu Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Zhihu Inc.