Zhihu (ZH)
NYSE:ZH
Earnings Data
Report Date
May 27, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.02Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call highlights a strategic and operational turning point: Zhihu achieved its first full-year non-GAAP profitability, showed strong engagement and AI-driven product momentum, and accelerated IP monetization and share repurchases. However, the company still faces meaningful near-term headwinds — notable year-over-year revenue declines across segments, a weakened Q4 non-GAAP result, gross margin contraction and a sizable goodwill impairment that widened GAAP losses. The narrative is one of structural improvement and long-term opportunity (especially around AI and IP) balanced against ongoing top-line pressure and one-time charges that weigh on quarterly profitability.Company Guidance
First Full-Year Non-GAAP Profit
Adjusted (non-GAAP) net income for full year 2025 reached RMB 37.9 million, a turnaround from an adjusted net loss of RMB 96.3 million in 2024, marking the company's first-ever full-year non-GAAP profitability.
Sequential Recovery in Marketing Services
Marketing services revenue in Q4 2025 was RMB 234.8 million, up 24% sequentially, indicating a clear inflection point and top-line recovery momentum despite year-over-year pressures.
Strong Paid Membership Base and Improving Unit Economics
Q4 paid membership revenue was RMB 333.5 million with average monthly paid members of 12.2 million; average ARPU increased 1.4% sequentially and quarterly renewal rates improved by 2.7 percentage points.
Robust Content and Creator Growth
Daily creation of high-quality content grew over 20% year-over-year in Q4 and over 31% for the full year; professional AI-related content rose over 30% year-over-year and AI-focused creators grew ~16% year-over-year.
Large Engagement Gains on Product Channels
Ideas channel: average daily content volume grew 73.5% for the full year and average daily interactions doubled (100%). Circles: average daily content creation surged over 100% sequentially and daily views increased 72% sequentially.
Rapid Adoption of AI Features and Strong AI Usage Metrics
Direct MAUs of Zhihu Zhida grew over 260% year-over-year with next-month retention up ~83% year-over-year; Feb 2026 average daily search queries per DAU rose >16% vs Nov 2025; AI search CTR increased by double-digits after upgrades.
IP Monetization Acceleration
IP monetization revenue (recognized in other revenues) grew more than fivefold year-over-year in Q4 and doubled for the full year; IP-related revenue increased 21% year-over-year and recent TV/video adaptations performed strongly on partner platforms.
Healthy Liquidity and Share Repurchase Activity
Cash, deposits and short-term investments were RMB 4.5 billion as of Dec 31, 2025; the company repurchased 31.1 million Class A shares for USD 66.5 million and repurchased an additional 16.6 million Class A shares via trustee (USD 23.4 million), representing 6.29% of issued ordinary shares.
ZH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ZH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 25, 2026 | $3.02 | $2.83 | -6.29% |
Nov 25, 2025 | $4.02 | $3.71 | -7.71% |
Aug 27, 2025 | $4.63 | $4.90 | +5.83% |
May 27, 2025 | $3.93 | $4.00 | +1.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Zhihu (ZH) report earnings?
Zhihu (ZH) is schdueled to report earning on May 27, 2026, Before Open (Confirmed).
What is Zhihu (ZH) earnings time?
Zhihu (ZH) earnings time is at May 27, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ZH EPS forecast?
Currently, no data Available