Zhihu turns profitable in 2025, with revenue of 2.75 billion yuan

GateUser-bd883c58 · 2026-04-04T17:10:16+00:00

Zhihu's revenue in Q4 2025 was 644 million yuan, a year-over-year decrease of 25.1%, but adjusted net loss narrowed to 39.4 million yuan. Full-year revenue was 2.75 billion yuan, a 23.6% decrease year-over-year, but the company turned profitable with a net profit of 37.9 million yuan. The revenue decline was mainly due to optimized services and a decrease in paid membership subscriptions.

GateUser-bd883c58

2026-04-04 17:10:16

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Ask AI · How could Zhihu’s revenue decline still turn a loss into a profit?

Beijing Business Today (Beijing Commercial News) (Reporter Wei Wei) On March 25, Zhihu released its latest financial report showing that in the fourth quarter of 2025, the company achieved revenue of 644 million yuan, down 25.1% year over year, and an adjusted net loss of 39.4 million yuan, narrowing 59.4% year over year. For all of 2025, Zhihu’s revenue was 2.75 billion yuan, down 23.6% from 3.6 billion yuan in 2024, and the adjusted net profit was 37.9 million yuan, turning a loss into a profit year over year.

According to the financial report, Zhihu’s advertising and marketing services revenue was 844 million yuan, compared with 1.25B yuan in 2024, decreasing mainly because Zhihu continued to actively and proactively optimize its service product offerings. Paid membership revenue was 1.54B yuan, compared with 1.76 billion yuan in 2024, declining mainly due to a decrease in the average number of monthly subscribed members. Other revenue was 366 million yuan, compared with 590 million yuan in 2024, decreasing mainly due to strategic optimization of Zhihu’s professional training business. In the fourth quarter of 2025, Zhihu’s average monthly subscribed membership totaled 12.2 million.

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