The earnings call highlighted Zhihu's first-time profitability in Q1 since IPO, increased user engagement, and strategic AI integration. However, these positives were balanced by significant revenue declines across several segments, including marketing services and vocational training.

Company Guidance

During Zhihu Inc.'s first quarter 2025 earnings call, the company reported a milestone achievement of a non-GAAP net income of RMB6.9 million, marking the first instance of a non-GAAP net profit in the first quarter since its IPO. This contrasts sharply with a net loss of RMB135.7 million during the same period the previous year. The company's total revenue for the quarter was RMB729.7 million, down 15.1% sequentially, with marketing services revenue at RMB197 million, declining 40.4% year-over-year. Paid membership revenue remained stable at RMB417.9 million, showing a slight sequential increase in average monthly paid members by 1.2%. Zhihu also reported a 17.6% year-over-year increase in average daily user time spent, reaching nearly 38 minutes, and a 20% year-over-year increase in verified owner creators. Operating expenses decreased by 34.4% to RMB503.7 million, as the company focused on cost management and efficiency improvements. The company also announced a new share repurchase program, allowing for a repurchase of up to 10% of total issued shares, reflecting management's confidence in Zhihu's long-term success.

First Non-GAAP Net Profit in Q1 Since IPO

Zhihu achieved a non-GAAP net income of RMB6.9 million in Q1 2025, compared with an adjusted net loss of RMB135.7 million in the same period last year.

Growth in AI-Related Professional Content

AI-related professional content on Zhihu grew by 46% year-over-year, highlighting the platform's role as a leading source of trustworthy professional content.

Increased User Engagement

Average daily user time span reached nearly 38 minutes, up 17.6% year-over-year. Core user retention rate improved both sequentially and year-over-year.

Strategic AI Integration

Zhihu launched contributor attribution, a key step for AI integration, positively received by users and aimed at reducing AI hallucination in specialized domains.

Stable Paid Membership Revenue

Paid membership revenue remained stable at RMB417.9 million, with average monthly paid members up 1.2% sequentially to 14.2 million.

Improved Gross Margin

Gross margin expanded by 5.2 percentage points year-over-year, reaching 61.8%, supported by improved operational efficiency.

Zhihu (ZH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

ZH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 26, 2025	2025 (Q3)	- / -	-0.017	―	―	―
Aug 27, 2025	2025 (Q2)	-0.02 / 0.12	-0.369	133.33% (+0.49)	―
May 27, 2025	2025 (Q1)	-0.03 / -0.02	-0.082	79.66% (+0.07)	―
Mar 26, 2025	2024 (Q4)	- / 0.14	-0.26	153.76% (+0.40)	―
Nov 26, 2024	2024 (Q3)	- / -0.02	-0.394	95.74% (+0.38)	―
Aug 22, 2024	2024 (Q2)	- / -0.37	-0.386	4.35% (+0.02)	―
Jun 12, 2024	2024 (Q1)	- / -0.08	-0.495	83.33% (+0.41)	―
Mar 26, 2024	2023 (Q4)	-0.23 / -0.26	-0.495	47.46% (+0.23)	―
Nov 29, 2023	2023 (Q3)	-0.39 / -0.39	-0.411	4.08% (+0.02)	―
Aug 23, 2023	2023 (Q2)	-0.33 / -0.39	-0.667	42.14% (+0.28)	―

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
Aug 27, 2025	$4.63	$4.90	+5.83%
May 27, 2025	$3.93	$4.00	+1.78%
Mar 26, 2025	$4.61	$4.65	+0.87%
Nov 26, 2024	$3.68	$3.60	-2.17%

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 Nov 26, 2025, Before Open (Confirmed).

What is Zhihu (ZH) earnings time?

Zhihu (ZH) earnings time is at Nov 26, 2025, 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

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