知乎2023年第三季度财务报告ZhihuInc.ReportsUnauditedThirdQuart.docx

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1、Zhihu Inc. Reports Unaudited Third Quarter 2023 Financial ResultsBEIJING, China, November 29, 2023 Zhihu Inc. (“Zhihu or the “Company) (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended September 30, 2023.Third Q

2、uarter 2023 Highlights Total revenues were RMB 1,022.2 million (US$140.1 million) in the third quarter of 2023, representing a 12.1% increase from the same period of 2022. Net loss was RMB278.4 million (US$38.2 million) in the third quarter of 2023, narrowed by 6.5% from the same period of 2022. Adj

3、usted net loss (non-GAAP)1 was RMB225.3 million (US$30.9 million) in the third quarter of 2023, narrowed by 10.1% from the same period of 2022. Average monthly active users (MAUs)2 reached 110.5 million in the third quarter of 2023. Average monthly subscribing members3 reached 14.8 million in the th

4、ird quarter of 2023, representing a 35.9% increase from the same period of 2022.“OUr significant strides in commercialization and the vibrant dynamism across the Zhihu community once again drove sustainable business growth during the third quarter of 2023. Our total revenues for the quarter continue

5、d their year-over-year growth momentum, fueled by accelerated development in paid memberships and our vocational training business, said Mr. Yuan Zhou, chairman and CEO of Zhihu. We will devote more resources to our multi-engine monetization strategy on a mid- to longterm basis. This strategy enable

6、d us to deliver resilient revenue growth this year despite the macro uncertainties. I am committed to narrowing losses by improving strategy execution. Zhihu will continue to integrate cutting-edge AI technology into its products and business operations to enhance content quality and user experience

7、.Mr. Henry Sha9 CFO of Zhihu9 added, We achieved another strong quarter with total revenues increasing by 12.1% year over year. Among our various revenue streams, our paid membership revenue grew by 39.2% while our vocational training business soared 85.6%, both year over year. We further enhanced o

8、ur gross margin through ongoing cost efficiency refinements. Despite the challenging economic climate, we are well-positioned to execute our growth strategy and achieve our financial targets.,Third Quarter 2023 Financial ResultsTotal revenues were RMB 1,022.2 million (US$140.1 million) in the third

9、quarter of 2023, representing a 12.1% increase from RMB911.7 million in the same period of 2022.Marketing services revenue】 was RMB383.0 million (US$52.5 million), compared with RMB461.9 million in the same period of 2022.Paid membership revenue was RMB466.8 million (US$64.0 million), representing a

10、 39.2% increase from RMB335.4 million in the same period of 2022. The increase was primarily driven by the continued growth of our subscribing members.Vocational training revenue was RMB 144.8 million (US$19.8 million), representing an 85.6% increase from RMB78.0 million in the same period of 2022.

11、The significant increase was primarily attributable to our further enriched online course offerings and the revenue contributions from our recently acquired businesses in the period.Other revenues were RMB27.6 million (US$3.8 million), compared with RMB36.3 million in the same period of 2022.Cost of

12、 revenues increased by 1.4% to RMB473.7 million (US$64.9 million) from RMB467.3 million in the same period of 2022. The increase was primarily due to the growth of content and operating costs as we continued to enhance our content attractiveness, and an increase in staff costs, partially offset by t

13、he decrease in cloud services and bandwidth costs.Gross profit increased by 23.4% to RMB548.5 million (US$75.2 million) from RMB444.4 million in the same period of 2022. Gross margin expanded to 53.7% from 48.7% in the same period of 2022, primarily attributable to our enhanced monetization efforts

14、and the improvement of cloud services and bandwidth utilization efficiency.Total operating expenses were RMB898.6 million (US$123.2 million), compared with RMB723.0 million in the same period of 2022.Selling and marketing expenses increased to RMB534.3 million (US$73.2 million) from RMB478.3 million

15、 in the same period of 2022. The increase reflects our continued efforts in promoting our product and service offerings.Research and development expenses increased to RMB249.7 million (US$34.2 million) from RMB 160.8 million in the same period of 2022. The increase was primarily attributable to our

16、increased spending on technology innovation.General and administrative expenses increased to RMB 114.6 million (US$15.7 million) from RMB83.9 million in the same period of 2022. The increase was primarily due to higher rental expenses and the increased share-based compensation expenses from our business acquisition.Loss from operations increased to RMB350.1 million (US$48.0 million) from RMB278.6 million in the same period of 2