Zhihu Posts First Full-Year Non-GAAP Profit

Zhihu reported its first full-year non-GAAP profit for 2025, recording adjusted net income of RMB 37.9 million while full-year revenue declined to RMB 2.7 billion year-over-year. The company said fourth-quarter revenue fell to RMB 643.5 million, gross margin narrowed, and membership counts dropped, noting the full-year improvement came mainly from cost cuts even as it pursues AI initiatives and held RMB 4.4 billion cash.