Zhihu (ZHIHU-W) released its third-quarter 2025 financial results, posting revenue of RMB659 million. The breakdown shows RMB386 million (58.5%) from paid reading services, RMB189 million (28.7%) from marketing services, and RMB83.9 million (12.8%) from other businesses including vocational education and consumer goods.

Since Q4 2024, Zhihu has achieved Non-GAAP profitability for three consecutive quarters. In Q3 2025, the company implemented strategic adjustments and investments to enhance operational efficiency and financial health. Its Non-GAAP operating loss narrowed by 16.3% year-over-year. As of quarter-end, Zhihu held RMB4.58 billion in combined cash, equivalents, term deposits, restricted funds, and short-term investments.

Key user metrics showed steady growth, with monthly active users (MAUs) and daily engagement duration improving. Subscription members reached 14.3 million, up 8.1% quarter-over-quarter.

Founder, Chairman, and CEO Zhou Yuan stated: "We are making solid progress toward full-year breakeven. Structural optimizations have better balanced commercialization and community health. Increased user activity, contributions from daily users and professional creators, and enriched high-quality content collectively boost community vitality. As 'quality content × expert network × AI capabilities' generate stronger synergies, Zhihu is accelerating its transformation into an AI-native platform, delivering trusted, differentiated experiences both on and off the platform."