← Zhihu Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and Cash Equivalents, at Carrying Value | $957.8m | $338.5m | $656.2m | $296.7m | $547.9m | $481.8m | |
| Prepaid Expense and Other Assets, Current | $123.5m | $42.7m | $28.9m | $32.7m | $22.4m | $15.3m | |
| Short-term Investments | $1.0b | $351.4m | $114.1m | $249.3m | $73.8m | $120.3m | |
| Cash and cash equivalents | $957.8m | $2.2b | $4.5b | $2.1b | $4.0b | $3.4b | |
| Trade receivables | $486.0m | $831.6m | $834.3m | $664.6m | $420.6m | $358.0m | |
| Prepayments and other current assets | $123.5m | $272.1m | $199.2m | $232.0m | $163.4m | $107.3m | |
| Accounts Receivable | — | — | $834.3m | $664.6m | $420.6m | $358.0m | |
| Accrued Interest Receivable | — | — | $12.3m | $30.3m | $23.6m | $6.0m | |
| Allowance For Doubtful Accounts Receivable | — | — | ($58.6m) | ($122.7m) | ($147.5m) | ($109.7m) | |
| Cash Cash Equivalents And Short Term Investments | — | — | $6.3b | $5.5b | $4.9b | $4.2b | |
| Gross Accounts Receivable | — | — | $892.9m | $787.3m | $568.1m | $467.7m | |
| Other Current Assets | — | — | $8.0m | $16.9m | $6.1m | $10.8m | |
| Other Receivables | — | — | $11.2m | $13.6m | $5.3m | $7.9m | |
| Other Short Term Investments | — | — | $1.7b | $3.4b | $858.9m | $870.9m | |
| Prepaid Assets | — | — | $137.8m | $150.1m | $123.4m | $67.8m | |
| Taxes Receivable | — | — | $29.9m | $21.3m | $5.0m | $14.8m | |
| Inventory, Net | — | — | $10.3m | $22.2m | $31.0m | $26.1m | |
| Assets, Current | $3.7b | $1.3b | $1.1b | $898.3m | $751.4m | $676.7m | |
| Total current assets | $3.7b | $8.3b | $7.3b | $6.4b | $5.5b | $4.7b | |
| Long-term investments, net | — | $19.1m | — | $44.6m | $51.2m | $158.5m | |
| Property, Plant and Equipment, Net | $8.1m | $1.5m | $1.1m | $1.5m | $1.2m | $765k | |
| Goodwill | — | $11.6m | $18.3m | $26.9m | $17.3m | $0 | |
| Intangible assets, net | $23.5m | $68.3m | $80.2m | $122.6m | $54.5m | $29.6m | |
| Goodwill And Other Intangible Assets | — | — | $206.6m | $313.7m | $180.9m | $29.6m | |
| Other Intangible Assets | — | — | $80.2m | $122.6m | $54.5m | $29.6m | |
| Operating Lease, Right-of-Use Asset | $3.2m | $19.9m | $14.5m | $5.7m | $980k | $6.0m | |
| Other Assets, Noncurrent | $6.5m | $2.2m | $3.3m | $1.1m | $85k | $1.9m | |
| Right-of-use assets | $3.2m | $126.5m | $100.1m | $40.2m | $7.2m | $42.1m | |
| Additional Financial Items | |||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $486.0m | $130.5m | $121.0m | $93.6m | $57.6m | $51.2m | |
| Term deposits | $1.1b | $159.4m | $948.4m | $1.6b | $320.1m | $210.0m | |
| Restricted cash | — | — | — | $0 | $900k | $1.1m | |
| Amounts due from related parties | $13.8m | $18.2m | $24.8m | $18.3m | $41.6m | $25.6m | |
| Other non-current assets | $6.5m | $14.1m | $22.4m | $8.0m | $623k | $13.4m | |
| Salary and welfare payables | $231.8m | $313.7m | $283.5m | $342.1m | $275.3m | $188.0m | |
| Taxes payable | $7.1m | $66.2m | $26.0m | $21.4m | $22.1m | $16.3m | |
| Contract liabilities | $160.0m | $239.8m | $355.6m | $303.6m | $235.5m | $186.0m | |
| Other current liabilities | $64.9m | $127.4m | $165.5m | $197.8m | $138.8m | $140.4m | |
| Short-term lease liabilities | $2.9m | $40.5m | $53.2m | $42.1m | $17.3m | $21.4m | |
| Short-term borrowings | — | — | — | — | — | $35.0m | |
| Long-term lease liabilities | — | $82.1m | $43.4m | $3.6m | $1.8m | $15.6m | |
| Other non-current liabilities | — | $73.1m | $82.1m | $122.0m | $4.0m | $4.7m | |
| Ordinary shares | $46k | $241k | $249k | $241k | $203k | $207k | |
| Statutory reserves | — | — | — | $2.7m | $435k | $706k | |
| Accumulated Depreciation | — | — | ($30.7m) | ($34.3m) | ($37.0m) | ($40.1m) | |
| Available For Sale Securities | — | $159.4m | — | — | — | $210.0m | |
| Capital Lease Obligations | — | — | $96.6m | $45.7m | $19.1m | $37.0m | |
| Current Capital Lease Obligation | — | — | $53.2m | $42.1m | $17.3m | $21.4m | |
| Current Debt And Capital Lease Obligation | — | — | $53.2m | $42.1m | $17.3m | $56.4m | |
| Current Deferred Liabilities | — | — | $355.6m | $303.6m | $235.5m | $186.0m | |
| Duefrom Related Parties Current | — | — | $24.8m | $18.3m | $41.6m | $25.6m | |
| Dueto Related Parties Current | — | — | $24.9m | $26.0m | $6.8m | $16.1m | |
| Gross PPE | — | — | $138.1m | $85.4m | $52.7m | $87.5m | |
| Invested Capital | — | — | $5.7b | $4.6b | $4.1b | $3.8b | |
| Investmentin Financial Assets | — | $159.4m | $0 | — | $0 | $210.0m | |
| Investments And Advances | — | — | $0 | $44.6m | $51.2m | $368.5m | |
| Leases | — | — | $14.0m | $19.4m | $21.5m | $22.1m | |
| Long Term Capital Lease Obligation | — | — | $43.4m | $3.6m | $1.8m | $15.6m | |
| Machinery Furniture Equipment | — | — | $7.6m | $7.7m | $6.7m | $6.9m | |
| Net PPE | — | — | $107.4m | $51.1m | $15.6m | $47.4m | |
| Net Tangible Assets | — | — | $5.4b | $4.3b | $4.0b | $3.8b | |
| Non Current Deferred Liabilities | — | — | $11.6m | $22.6m | $6.8m | $27.2m | |
| Ordinary Shares Number | — | — | $316.4m | $305.5m | $262.0m | $269.9m | |
| Other Equity Adjustments | — | — | ($65.8m) | ($17.9m) | $12.8m | ($33.0m) | |
| Other Investments | — | $19.1m | $0 | — | $51.2m | $158.5m | |
| Other Payable | — | — | $378.8m | $402.0m | $316.5m | $232.1m | |
| Other Properties | — | — | $116.5m | $58.3m | $24.5m | $58.4m | |
| Properties | — | — | $0 | $0 | $0 | $0 | |
| Share Issued | — | — | $316.4m | $305.5m | $262.0m | $269.9m | |
| Tangible Book Value | — | — | $5.4b | $4.3b | $4.0b | $3.8b | |
| Treasury Shares Number | — | — | — | $0 | — | $0 | |
| Working Capital | — | — | $5.5b | $4.4b | $4.0b | $3.5b | |
| Total non-current assets | $41.3m | $471.0m | $336.4m | $417.4m | $248.3m | $458.9m | |
| Total non-current liabilities | — | $169.3m | $137.1m | $148.2m | $12.6m | $47.4m | |
| Total Zhihu Inc.'s shareholders' equity | ($5.1b) | $6.7b | $5.7b | $4.6b | $4.1b | $3.8b | |
| Total shareholders' equity | ($5.1b) | $6.7b | $5.7b | $4.7b | $4.2b | $3.9b | |
| Total Capitalization | — | — | $5.7b | $4.6b | $4.1b | $3.8b | |
| Total Debt | — | — | $96.6m | $45.7m | $19.1m | $72.0m | |
| Total Tax Payable | — | — | $68.2m | $77.0m | $65.6m | $46.4m | |
| Assets | $3.8b | $1.4b | $1.1b | $957.1m | $785.4m | $742.3m | |
| Total assets | $3.8b | $8.8b | $7.7b | $6.8b | $5.7b | $5.2b | |
| LIABILITIES AND EQUITY | |||||||
| Current liabilities: | |||||||
| Operating Lease, Liability, Current | $2.9m | $6.4m | $7.7m | $5.9m | $2.4m | $3.1m | |
| Operating Lease, Liability, Noncurrent | — | $12.9m | $6.3m | $513k | $250k | $2.2m | |
| Accounts payable and accrued liabilities | $501.8m | $1.0b | $916.1m | $1.0b | $835.7m | $681.3m | |
| Current Deferred Revenue | — | — | $355.6m | $303.6m | $235.5m | $186.0m | |
| Payables And Accrued Expenses | — | — | $1.4b | $1.5b | $1.2b | $975.9m | |
| Liabilities, Current | $1.0b | $297.8m | $264.6m | $274.0m | $208.9m | $181.4m | |
| Total current liabilities | $1.0b | $1.9b | $1.8b | $1.9b | $1.5b | $1.3b | |
| Deferred Income Tax Liabilities, Net | — | $2.2m | $1.7m | $3.2m | $936k | $3.9m | |
| Other Liabilities, Noncurrent | — | $11.5m | $11.9m | $17.2m | $541k | $665k | |
| Deferred tax liabilities | — | $14.0m | $11.6m | $22.6m | $6.8m | $27.2m | |
| Long Term Debt And Capital Lease Obligation | — | — | $43.4m | $3.6m | $1.8m | $15.6m | |
| Non Current Deferred Taxes Liabilities | — | — | $11.6m | $22.6m | $6.8m | $27.2m | |
| Pensionand Other Post Retirement Benefit Plans Current | — | — | $8.6m | $8.6m | $8.3m | $6.0m | |
| Liabilities | $1.0b | $324.4m | $284.5m | $294.9m | $210.6m | $188.2m | |
| Total liabilities | $1.0b | $2.1b | $2.0b | $2.1b | $1.5b | $1.3b | |
| Stockholders’ equity: | |||||||
| Additional Paid in Capital | — | $2.1b | $2.0b | $1.9b | $1.8b | $1.9b | |
| Retained Earnings (Accumulated Deficit) | ($4.9b) | ($985.6m) | ($1.1b) | ($1.2b) | ($1.2b) | ($1.3b) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($195.9m) | ($53.2m) | ($9.5m) | ($2.9m) | $1.7m | ($4.8m) | |
| Treasury stock | — | — | ($33.8m) | ($161.6m) | ($112.1m) | ($275.1m) | |
| Accumulated other comprehensive income/(loss) | ($195.9m) | ($339.1m) | ($65.8m) | ($20.6m) | $12.4m | ($33.7m) | |
| Accumulated deficit | ($4.9b) | ($6.3b) | ($7.9b) | ($8.7b) | ($8.9b) | ($9.1b) | |
| Capital Stock | — | — | $249k | $241k | $203k | $207k | |
| Gains Losses Not Affecting Retained Earnings | — | — | ($65.8m) | ($17.9m) | $12.8m | ($33.0m) | |
| Stockholders' Equity Attributable to Parent | ($5.1b) | $1.1b | $819.7m | $647.9m | $566.6m | $544.0m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $1.2m | $5.9m | $14.3m | $8.2m | $10.1m | |
| Noncontrolling interests | — | $7.5m | $40.6m | $101.8m | $59.6m | $70.9m | |
| Minority Interest | — | — | $40.6m | $101.8m | $59.6m | $70.9m | |
| Total Equity Gross Minority Interest | — | — | $5.7b | $4.7b | $4.2b | $3.9b | |
| Total Non Current Liabilities Net Minority Interest | — | — | $137.1m | $148.2m | $12.6m | $47.4m | |
| Liabilities and Equity | $3.8b | $1.4b | $1.1b | $957.1m | $785.4m | $742.3m | |
| Total liabilities and shareholders' equity | $3.8b | $8.8b | $7.7b | $6.8b | $5.7b | $5.2b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.