Mar. 26 at 11:41 AM
$ZH
Zhihu reported its Q4 and FY 2024 financial results, marking a significant turnaround with its first profitable quarter.
In Q4 2024, the company achieved:
- Total revenues of RMB859.2M (US
$117.7M), down from RMB1,138.3M in Q4 2023
- Gross margin expansion to 62.9% from 59.1% YoY
- Net income of RMB86.4M (US
$11.8M) vs net loss of RMB103.1M in Q4 2023
- 81.4M monthly active users and 14.1M monthly subscribing members
For FY 2024:
- Total revenues were RMB3,598.9M (US
$493.0M), compared to RMB4,198.9M in 2023
- Gross margin improved to 60.6% from 54.7%
- Net loss narrowed by 79.9% to RMB169.0M
The company has been actively repurchasing shares, with 31.1M Class A ordinary shares bought back for US
$66.5M under its existing program, and completed an additional tender offer of approximately HK
$300M.