← Zhihu Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net Income From Continuing Operations | — | — | — | — | ($1.6b) | ($195.2m) | ($169.0m) | ($839.5m) | ($839.5m) | |
| Net loss | — | ($1.0b) | ($517.5m) | ($1.3b) | ($1.6b) | ($839.5m) | ($169.0m) | ($195.2m) | — | |
| Net Income (Loss) Attributable to Parent | — | — | ($517.5m) |
($203.8m)
+60.62%
|
($1.6b)
-675.75%
|
($843.6m)
+46.64%
|
($171.8m)
+79.64%
|
($192.9m)
-12.28%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | — | ($1.2b) |
($230.6m)
+80.76%
|
($229.2m)
+0.58%
|
($118.8m)
+48.17%
|
($23.5m)
+80.19%
|
($27.6m)
-17.19%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | ($517.5m) | ($203.8m) | ($228.8m) | ($118.2m) | ($23.1m) | ($27.9m) | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | $399k | $579k | $388k | ($323k) | — | |
| Depreciation, Depletion and Amortization | — | — | $19.6m | $3.4m | $3.7m | $3.5m | $3.0m | $2.7m | $24.9m | |
| Amortization of Intangible Assets | — | — | $11.5m | $15.7m | $21.5m | $20.1m | $17.1m | $14.6m | — | |
| Depreciation | — | — | $8.1m | $5.8m | $5.6m | $4.8m | $4.8m | $4.4m | $24.9m | |
| Depreciation of property and equipment and amortization of intangible assets | — | $20.2m | $19.6m | $21.5m | $25.2m | $24.9m | $21.9m | $19.0m | $24.9m | |
| Depreciation Amortization Depletion | — | — | — | — | $25.2m | $19.0m | $21.9m | $24.9m | $24.9m | |
| Deferred Income Tax Expense (Benefit) | — | — | — | ($172k) | ($348k) | ($536k) | ($414k) | $2.9m | ($3.8m) | |
| Deferred income tax | — | — | — | ($1.1m) | ($2.4m) | ($3.8m) | ($3.0m) | $20.3m | ($3.8m) | |
| Deferred Tax | — | — | — | — | ($2.4m) | $20.3m | ($3.0m) | ($3.8m) | ($3.8m) | |
| Share-based Payment Arrangement, Noncash Expense | — | — | $180.1m | $86.1m | $54.2m | $23.2m | $8.1m | $12.5m | $164.7m | |
| Share-based compensation expenses | — | $179.7m | $180.1m | $548.5m | $373.9m | $164.7m | $59.3m | $87.3m | $164.7m | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | — | $20.9m | $0 | $0 | — | — | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | — | $0 | $0 | — | — | |
| Goodwill, Impairment Loss | — | — | — | — | $0 | $0 | $0 | $18.1m | $0 | |
| Impairment of Intangible Assets, Finite-lived | — | — | $0 | $0 | $0 | $0 | $0 | $1.5m | — | |
| Impairment of goodwill | — | — | — | — | — | $0 | $0 | $126.3m | — | |
| Impairment of intangible assets | — | — | — | — | — | $0 | $0 | $10.5m | — | |
| Asset Impairment Charge | — | — | — | — | $20.9m | $136.8m | $0 | $0 | $0 | |
| Other Nonoperating Income (Expense) | — | — | $11.7m | ($689k) | $867k | $6.9m | $5.9m | $4.4m | — | |
| Changes in operating assets and liabilities: | ||||||||||
| Change In Working Capital | — | — | — | — | ($133.8m) | ($174.0m) | ($84.5m) | $240.3m | $240.3m | |
| Increase (Decrease) in Accounts Receivable | — | — | $257.1m | $58.8m | $19.3m | ($9.1m) | ($28.5m) | ($12.9m) | $64.4m | |
| Trade receivables | — | ($62.6m) | ($257.1m) | ($374.7m) | ($132.8m) | $64.4m | $208.2m | $90.1m | — | |
| Change In Receivables | — | — | — | — | ($132.8m) | $90.1m | $208.2m | $64.4m | $64.4m | |
| Changes In Account Receivables | — | — | — | — | ($132.8m) | $90.1m | $208.2m | $64.4m | $64.4m | |
| Accounts payable and accrued liabilities | — | $38.6m | $214.8m | $524.2m | ($15.9m) | $220.2m | ($183.4m) | ($154.3m) | $220.2m | |
| Salary and welfare payables | — | $66.0m | $25.0m | $81.4m | ($36.5m) | $56.9m | ($65.4m) | ($87.2m) | — | |
| Accrued investment income of short-term investments | — | ($4.9m) | ($2.4m) | ($6.4m) | ($31.5m) | ($37.5m) | ($58.3m) | ($71.5m) | — | |
| Prepayments and other current assets | — | ($10.1m) | ($17.1m) | ($134.4m) | $87.1m | ($41.7m) | $63.3m | $47.2m | — | |
| Other current liabilities | — | ($6.6m) | $28.9m | $34.3m | ($8.5m) | $2.7m | ($10.1m) | ($19.1m) | ($48.2m) | |
| Change In Other Current Assets | — | — | — | — | $26.8m | ($41.4m) | $33.1m | $73.0m | $73.0m | |
| Change In Other Current Liabilities | — | — | — | — | ($34.6m) | ($1.3m) | ($36.7m) | ($48.2m) | ($48.2m) | |
| Net Cash Provided by (Used in) Operating Activities | — | ($715.5m) |
($244.4m)
+65.84%
|
($69.1m)
+71.74%
|
($161.7m)
-133.99%
|
($58.5m)
+63.80%
|
($38.4m)
+34.41%
|
($52.0m)
-35.45%
|
($415.5m)
-699.20%
|
|
| Cash flows from investing activities: | ||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | $179k | ($255k) | — | ($11k) | ($57k) | $1k | $56k | ($37.1m) | |
| Payments to Acquire Property, Plant, and Equipment | — | ($4.5m) | $2.0m | $1.2m | $104k | $1.2m | $374k | $189k | ($8.9m) | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | — | — | — | $101.4m | $5.2m | |
| Cash paid for long-term investments | — | — | — | $19.4m | — | ($30.0m) | ($21.2m) | ($12.6m) | — | |
| Unpaid consideration for long-term investments | — | — | — | — | — | $14.6m | — | $12.3m | — | |
| Purchases of short-term investments | — | ($3.5b) | ($6.2b) | ($6.4b) | ($10.5b) | ($7.5b) | ($9.1b) | ($13.4b) | — | |
| Proceeds of maturities of short-term investments | — | $2.3b | $6.6b | $5.2b | $12.0b | $6.6b | $10.4b | $13.2b | — | |
| Net cash (used in)/provided by investing activities | — | ($2.1b) | $430.1m | ($3.1b) | $3.5b | ($1.7b) | $2.6b | ($116.3m) | — | |
| Net Cash Provided by (Used in) Investing Activities | — | — | $430.1m | ($492.2m) | $506.1m | ($236.8m) | $351.1m | ($16.6m) | ($1.7b) | |
| Cash flows from financing activities: | ||||||||||
| Proceeds from short-term borrowings | — | — | — | — | — | — | $51.8m | $196.3m | — | |
| Repayment of short-term borrowings | — | — | — | — | — | — | ($51.8m) | ($161.3m) | — | |
| Issuance Of Debt | — | — | — | — | $0 | $196.3m | $51.8m | $0 | $0 | |
| Net Issuance Payments Of Debt | — | — | — | — | $0 | $35.0m | $0 | $0 | $0 | |
| Net Short Term Debt Issuance | — | — | — | — | $0 | $35.0m | $0 | $0 | $0 | |
| Short Term Debt Issuance | — | — | — | — | $0 | $196.3m | $51.8m | $0 | $0 | |
| Repayment Of Debt | — | — | — | — | $0 | ($161.3m) | ($51.8m) | $0 | $0 | |
| Short Term Debt Payments | — | — | — | — | $0 | ($161.3m) | ($51.8m) | $0 | $0 | |
| Issuance Of Capital Stock | — | — | — | $4.9b | $0 | $0 | — | — | $0 | |
| Repurchase Of Capital Stock | — | — | — | — | ($128.0m) | ($167.1m) | ($400.7m) | ($369.6m) | ($369.6m) | |
| Common Stock Issuance | — | — | — | $4.9b | $0 | $0 | — | — | $0 | |
| Net Common Stock Issuance | — | — | — | — | ($128.0m) | ($167.1m) | ($400.7m) | ($369.6m) | ($369.6m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | $18.6m | $52.1m | $54.9m | $23.9m | — | |
| Common Stock Payments | — | — | — | — | ($128.0m) | ($167.1m) | ($400.7m) | ($369.6m) | ($369.6m) | |
| Net Cash Provided by (Used in) Financing Activities | — | $3.0b |
$9.3m
-99.69%
|
$765.2m
+8140.25%
|
($15.7m)
-102.05%
|
($51.4m)
-227.29%
|
($55.3m)
-7.61%
|
($18.8m)
+65.98%
|
($365.1m)
-1839.52%
|
|
| Net (decrease)/increase in cash, cash equivalents and restricted cash | — | $187.1m | $57.5m | $1.2b | $2.4b | ($2.4b) | $1.9b | ($629.8m) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $57.5m | $188.2m | $343.4m | ($340.7m) | $259.4m | ($90.1m) | $2.1b | |
| Beginning Cash Position | — | — | — | — | $2.2b | $4.0b | $2.1b | $4.5b | $4.5b | |
| Cash, cash equivalents and restricted cash at beginning of the year | $713.3m | $900.4m | $957.8m | $2.2b | $4.5b | $2.1b | $4.0b | $3.4b | — | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($137.5m) | ($15.7m) | $14.7m | $6.0m | $2.0m | ($2.6m) | $42.5m | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | — | $7.5m | ($137.5m) | ($100.2m) | $101.5m | $42.5m | $14.9m | ($18.3m) | $42.5m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $150.3m | $338.5m | $656.2m | $296.7m | $548.0m | $481.9m | $2.1b | |
| Effect Of Exchange Rate Changes | — | — | — | — | $101.5m | ($18.3m) | $14.9m | $42.5m | $42.5m | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | $675k | — | — | |
| Income Tax Expense (Benefit) | — | — | $1.1m | $854k | $2.1m | $1.7m | ($1.3m) | $3.1m | — | |
| Additional Financial Items | ||||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | $62.7m | ($2.6m) | $10.4m | $14k | $139k | ($33k) | — | |
| General and Administrative Expense | — | — | $296.2m | $108.3m | $90.2m | $58.9m | $45.2m | $36.0m | — | |
| Goodwill | — | — | — | $11.6m | $18.3m | $26.9m | $17.3m | — | $0 | |
| Operating Expenses | — | — | $1.4b | $462.1m | $494.7m | $474.4m | $364.7m | $308.2m | — | |
| Proceeds from Stock Options Exercised | — | — | $9.3m | $3.6m | $2.8m | $636k | $159k | — | — | |
| Provision of allowance for expected credit loss | — | $7.2m | $16.8m | $32.6m | $34.5m | $29.9m | $36.7m | ($26.8m) | — | |
| Fair value change of financial instruments | — | — | $68.8m | ($27.8m) | $176.7m | $5.2m | ($78.4m) | — | — | |
| Right-of-use assets | — | $26.4m | $22.7m | ($123.3m) | $26.4m | $59.9m | $33.1m | ($34.9m) | — | |
| Other non-current assets | — | $142k | $412k | ($7.7m) | $382k | $13.1m | $66k | ($6.5m) | — | |
| Contract liabilities | — | $42.0m | $52.9m | $79.4m | $78.2m | ($87.1m) | ($59.5m) | ($48.8m) | — | |
| Amounts due from/to related parties | — | $13.1m | ($57.9m) | $33.2m | ($65.3m) | $7.4m | ($45.1m) | $27.6m | — | |
| Taxes payable | — | $2.4m | $20k | $59.0m | ($40.8m) | ($4.7m) | $955k | ($5.8m) | — | |
| Lease liabilities | — | ($23.8m) | ($22.7m) | $119.8m | ($26.1m) | ($50.8m) | ($26.6m) | $17.8m | — | |
| Purchases of term deposits | — | ($1.2b) | ($2.3b) | ($4.9b) | ($3.6b) | ($2.7b) | ($673.4m) | ($742.5m) | — | |
| Proceeds from withdrawal of term deposits | — | $336.3m | $2.3b | $3.0b | $5.8b | $2.0b | $2.0b | $814.5m | — | |
| Purchase of intangible assets | — | ($1.2m) | — | — | — | ($381k) | — | ($137k) | — | |
| Acquisition of subsidiaries, net of cash acquired | — | — | — | $33.2m | ($60.6m) | ($63.6m) | — | — | — | |
| Proceeds received from employees in relation to share options and restricted shares | — | — | — | — | — | $4.5m | $1.2m | $431k | — | |
| Payments for repurchase of shares | — | — | — | — | ($128.0m) | ($369.6m) | ($400.7m) | ($167.1m) | — | |
| Unpaid consideration for acquisition (including contingent consideration) | — | — | — | $79.6m | $22.9m | $78.4m | — | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | ($108.3m) | ($131.6m) | ($403.9m) | ($365.1m) | ($365.1m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | $3.5b | ($116.3m) | $2.6b | ($1.7b) | ($1.7b) | |
| Change In Account Payable | — | — | — | — | ($15.9m) | ($154.3m) | ($183.4m) | $220.2m | $220.2m | |
| Change In Income Tax Payable | — | — | — | — | ($40.8m) | ($5.8m) | $955k | ($4.7m) | ($4.7m) | |
| Change In Other Working Capital | — | — | — | — | $12.9m | ($21.2m) | ($104.6m) | ($79.6m) | ($79.6m) | |
| Change In Payable | — | — | — | — | ($93.3m) | ($247.4m) | ($247.8m) | $272.4m | $220.2m | |
| Change In Prepaid Assets | — | — | — | — | $87.1m | $47.2m | $63.3m | ($41.7m) | ($41.7m) | |
| Change In Tax Payable | — | — | — | — | ($40.8m) | ($5.8m) | $955k | ($4.7m) | ($4.7m) | |
| Changes In Cash | — | — | — | — | $2.3b | ($611.5m) | $1.9b | ($2.5b) | ($2.5b) | |
| End Cash Position | — | — | — | — | $4.5b | $3.4b | $4.0b | $2.1b | $2.1b | |
| Financing Cash Flow | — | — | — | — | ($108.3m) |
($131.6m)
-21.49%
|
($403.9m)
-206.82%
|
($365.1m)
+9.61%
|
($365.1m)
0.00%
|
|
| Free Cash Flow | — | — | — | — | ($1.1b) | ($365.1m) | ($282.9m) | ($424.4m) | ($424.4m) | |
| Gain Loss On Investment Securities | — | — | — | — | ($31.5m) | ($230.7m) | ($58.3m) | ($37.5m) | ($37.5m) | |
| Gain Loss On Sale Of Business | — | — | — | — | $0 | $0 | ($4.9m) | $0 | $0 | |
| Gain Loss On Sale Of PPE | — | — | — | — | $77k | ($392k) | ($6k) | $402k | $402k | |
| Investing Cash Flow | — | — | — | — | $3.5b | ($116.3m) | $2.6b | ($1.7b) | ($1.7b) | |
| Net Business Purchase And Sale | — | — | — | — | ($60.6m) | $0 | $12.2m | ($63.6m) | ($63.6m) | |
| Net Intangibles Purchase And Sale | — | — | — | — | $0 | ($137k) | $0 | ($381k) | ($381k) | |
| Net PPE Purchase And Sale | — | — | — | — | ($591k) | ($848k) | ($2.7m) | ($8.5m) | ($8.5m) | |
| Operating Gains Losses | — | — | — | — | ($31.5m) | ($231.1m) | ($63.3m) | ($37.1m) | ($37.1m) | |
| Proceeds From Stock Option Exercised | — | — | — | — | $19.6m | $431k | $1.2m | $4.5m | $4.5m | |
| Provisionand Write Offof Assets | — | — | — | — | $34.5m | ($26.8m) | $36.7m | $29.9m | $29.9m | |
| Purchase Of Business | — | — | — | — | ($60.6m) | $0 | $0 | ($63.6m) | ($63.6m) | |
| Purchase Of Intangibles | — | — | — | — | $0 | ($137k) | $0 | ($381k) | ($381k) | |
| Purchase Of PPE | — | — | — | $1.2m | ($714k) | ($1.3m) | ($2.7m) | ($8.5m) | ($8.9m) | |
| Sale Of PPE | — | — | — | $0 | $123k | $471k | $27k | — | $27k | |
| Stock Based Compensation | — | — | — | — | $373.9m | $87.3m | $59.3m | $164.7m | $164.7m | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | $176.7m | $0 | ($78.4m) | $5.2m | $5.2m | |
| Gain (Loss) on Derivative Instruments, Net, Pretax | — | — | ($68.8m) | $4.4m | ($145.2m) | $0 | $0 | — | — | |
| Net Investment Purchase And Sale | — | — | — | — | $3.6b | ($115.3m) | $2.6b | ($1.6b) | ($1.6b) | |
| Purchase Of Investment | — | — | — | — | ($14.3b) | ($14.2b) | ($9.8b) | ($10.2b) | ($10.2b) | |
| Sale Of Investment | — | — | — | — | $17.8b | $14.1b | $12.4b | $8.6b | $8.6b | |
| Proceeds from Noncontrolling Interests | — | — | — | — | — | — | $27k | — | — | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | $2.4b | ($629.8m) | $1.9b | ($2.4b) | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | — | $1.4m | $0 | $206k | — | |
| Income Taxes Paid, Net | — | — | — | $3.5m | $16.9m | $1.6m | $244k | $546k | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.