Zhihu-W Achieves Adjusted Net Profit of 37.9 Million Yuan in 2025, Turning Loss into Profit Year-on-Year

Zhihu-W (02390) has announced its 2025 financial results, reporting total revenue of 2.749 billion yuan and a gross profit margin of 59.9%. The company achieved an adjusted net profit of 37.9 million yuan, marking a year-on-year turnaround from loss to profitability.

Mr. Zhou Yuan, Chairman and CEO of Zhihu, stated, "2025 represents a structural turning point for Zhihu. Following our first quarterly non-GAAP profit in the fourth quarter of 2024, we achieved our first annual non-GAAP profit in 2025. This milestone demonstrates that our transition to high-quality growth has effectively strengthened our business model and profitability resilience. In the fourth quarter, we made steady progress in both community ecosystem development and commercialization efficiency. Our daily active users spent an average of over 41 minutes per day on Zhihu, while authentic, expert-led high-quality content continued to expand in vertical sectors. Revenue trends improved quarter by quarter, with a noticeable narrowing of sequential declines."

Looking ahead to 2026, Mr. Zhou added, "While consolidating the foundation of our core business, we will accelerate commercialization efforts related to AI. Leveraging our extensive expert network, trusted content assets, and diverse real-user scenarios, we are building differentiated moats around our community to further enhance Zhihu's strategic position in the broader AI ecosystem."

Mr. Wang Han, Chief Financial Officer of Zhihu, commented, "2025 marks a structural upgrade in Zhihu's financial condition. Through continuous cost control, improved operating leverage, and strengthened expense management, we achieved our first annual non-GAAP profit while maintaining a healthy gross margin." He further noted, "Looking forward to 2026, we will focus on further enhancing profit quality and scalability by prioritizing higher-margin, more capital-efficient revenue streams. At the same time, we will continue to adhere to a disciplined capital allocation strategy, including share repurchases, to support long-term shareholder value."