ZH
Zhihu Inc ADR
NYSE: ZH · COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION
$3.20
-1.84% today
Updated 2026-04-30
Market cap
$287.28M
P/E ratio
—
P/S ratio
0.10x
EPS (TTM)
$-0.35
Dividend yield
—
52W range
$3 – $6
Volume
0.5M
Zhihu Inc ADR (ZH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $668.70M | $1.28B | $2.92B | $3.67B | $4.20B | $3.65B | $2.67B |
| Revenue growth (YoY) | — | +91.2% | +128.5% | +25.6% | +14.5% | -13.1% | -26.7% |
| Cost of revenue | $357.27M | $561.95M | $1.39B | $1.83B | $1.90B | $1.44B | $1.07B |
| Gross profit | $311.43M | $716.43M | $1.53B | $1.84B | $2.30B | $2.21B | $1.60B |
| Gross margin | 46.6% | 56.0% | 52.5% | 50.2% | 54.7% | 60.6% | 59.9% |
| R&D | $350.06M | $311.76M | $611.56M | $776.77M | $901.33M | $742.93M | $510.69M |
| SG&A | $253.27M | $296.16M | $690.29M | $621.97M | $418.53M | $330.17M | $1.50B |
| Operating income | $-1.06B | $-569.97M | $-1.37B | $-1.63B | $-1.07B | $-487.90M | $-370.57M |
| Operating margin | -157.9% | -44.6% | -47.0% | -44.5% | -25.5% | -13.4% | -13.9% |
| EBITDA | $-981.32M | $-469.75M | $-1.26B | $-1.57B | $-802.70M | $-158.63M | $-370.57M |
| EBITDA margin | -146.8% | -36.7% | -43.0% | -42.7% | -19.1% | -4.3% | -13.9% |
| EBIT | $-1.00B | $-488.28M | $-1.28B | $-1.59B | $-827.58M | $-180.89M | — |
| Interest expense | $77.25M | $136.34M | $189.08M | $36.78M | — | — | — |
| Income tax | $39892.00 | $1.02M | $5.37M | $14.43M | $11.83M | $-9.52M | — |
| Effective tax rate | -0.0% | -0.2% | -0.4% | -0.9% | -1.4% | 5.2% | 0.0% |
| Net income | $-1.00B | $-489.30M | $-1.28B | $-1.61B | $-843.53M | $-174.24M | $-187.65M |
| Net income growth (YoY) | — | +51.1% | -162.0% | -25.5% | +47.6% | +79.3% | -7.7% |
| Profit margin | -149.8% | -38.3% | -43.9% | -43.9% | -20.1% | -4.8% | -7.0% |