Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Zhihu.
Income Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|---|
| Revenue | $4.20B | $3.60B | $2.96B | $1.35B | $670.51M |
| Cost of Revenue | $1.90B | $1.80B | $1.41B | $594.40M | $358.24M |
| Gross Profit | $2.30B | $1.81B | $1.55B | $757.80M | $312.27M |
| Gross Profit Ratio | 54.70% | 50.16% | 52.50% | 56.04% | 46.57% |
| Research and Development Expenses | $901.45M | $763.36M | $619.59M | $329.76M | $351.01M |
| General and Administrative Expenses | $418.53M | $621.97M | $690.29M | $296.16M | $253.27M |
| Selling and Marketing Expenses | $2.05B | $2.03B | $1.63B | $734.75M | $766.47M |
| Selling General and Administrative Expenses | $2.47B | $2.65B | $2.33B | $1.03B | $1.02B |
| Other Expenses | $- | $5.98M | $-4.39M | $11.73M | $2.67M |
| Operating Expenses | $3.37B | $3.41B | $2.94B | $1.36B | $1.37B |
| Cost and Expenses | $5.27B | $5.21B | $4.35B | $1.96B | $1.73B |
| Interest Income | $158.67M | $68.10M | $31.30M | $24.75M | $28.67M |
| Interest Expense | $- | $- | $- | $- | $- |
| Depreciation and Amortization | $24.89M | $25.21M | $21.45M | $19.61M | $20.24M |
| EBITDA | $-1.05B | $-1.58B | $-1.37B | $-583.27M | $-1.04B |
| EBITDA Ratio | -24.94% | -43.53% | -49.37% | -46.83% | -158.27% |
| Operating Income | $-1.07B | $-1.60B | $-1.39B | $-602.88M | $-1.06B |
| Operating Income Ratio | -25.54% | -44.49% | -46.99% | -44.59% | -157.86% |
| Total Other Income Expenses Net | $244.53M | $39.53M | $97.27M | $86.41M | $54.30M |
| Income Before Tax | $-827.70M | $-1.56B | $-1.29B | $-516.47M | $-1.00B |
| Income Before Tax Ratio | -19.71% | -43.39% | -43.71% | -38.19% | -149.76% |
| Income Tax Expense | $11.83M | $14.18M | $5.44M | $1.08M | $40.00K |
| Net Income | $-843.64M | $-1.58B | $-1.30B | $-517.55M | $-1.00B |
| Net Income Ratio | -20.09% | -43.78% | -43.89% | -38.27% | -149.77% |
| EPS | $-2.82 | $-5.22 | $-5.46 | $-1.87 | $-3.37 |
| EPS Diluted | $-2.82 | $-5.22 | $-5.46 | $-1.87 | $-3.37 |
| Weighted Average Shares Outstanding | 299.13M | 301.79M | 237.77M | 276.70M | 297.48M |
| Weighted Average Shares Outstanding Diluted | 299.13M | 301.79M | 237.77M | 276.70M | 297.48M |
| SEC Filing | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $2.11B | $4.53B | $2.16B | $957.82M | $900.35M |
| Short Term Investments | $3.36B | $1.74B | $5.06B | $2.14B | $2.64B |
| Cash and Short Term Investments | $5.46B | $6.26B | $7.21B | $3.10B | $3.54B |
| Net Receivables | $682.93M | $859.05M | $988.96M | $499.89M | $251.87M |
| Inventory | $22.19M | $10.35M | $125.17M | $71.82M | $27.15M |
| Other Current Assets | $209.83M | $188.90M | $267.47M | $123.54M | $106.47M |
| Total Current Assets | $6.38B | $7.32B | $8.33B | $3.72B | $3.90B |
| Property Plant Equipment Net | $51.06M | $107.41M | $136.38M | $11.35M | $40.56M |
| Goodwill | $191.08M | $126.34M | $73.66M | $- | $- |
| Intangible Assets | $122.64M | $80.24M | $68.31M | $23.48M | $34.94M |
| Goodwill and Intangible Assets | $313.72M | $206.58M | $141.97M | $23.48M | $34.94M |
| Long Term Investments | $44.62M | $- | $178.52M | $- | $- |
| Tax Assets | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $7.99M | $22.45M | $14.13M | $6.45M | $6.86M |
| Total Non-Current Assets | $417.39M | $336.44M | $471.00M | $41.27M | $82.35M |
| Other Assets | $- | $- | $- | $- | $- |
| Total Assets | $6.80B | $7.66B | $8.81B | $3.76B | $3.98B |
| Account Payables | $1.04B | $916.11M | $1.03B | $501.85M | $287.04M |
| Short Term Debt | $42.09M | $53.19M | $40.52M | $2.89M | $22.75M |
| Tax Payables | $76.99M | $25.98M | $66.18M | $39.75M | $24.41M |
| Deferred Revenue | $- | $355.63M | $239.76M | $160.00M | $107.13M |
| Other Current Liabilities | $787.88M | $829.56M | $764.47M | $470.07M | $428.84M |
| Total Current Liabilities | $1.95B | $1.82B | $1.90B | $1.01B | $763.04M |
| Long Term Debt | $3.64M | $43.37M | $82.13M | $- | $2.89M |
| Deferred Revenue Non-Current | $- | $- | $-96.16M | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $11.63M | $14.03M | $- | $- |
| Other Non-Current Liabilities | $144.53M | $93.76M | $87.17M | $- | $7.21B |
| Total Non-Current Liabilities | $148.17M | $137.13M | $169.30M | $7.89B | $7.21B |
| Other Liabilities | $1 | $- | $- | $-7.89B | $- |
| Total Liabilities | $2.09B | $1.96B | $2.07B | $1.01B | $7.98B |
| Preferred Stock | $2 | $- | $- | $7.89B | $7.21B |
| Common Stock | $241.00K | $249.00K | $241.00K | $193.00K | $46.00K |
| Retained Earnings | $-8.71B | $-7.86B | $-6.28B | $-4.95B | $-3.94B |
| Accumulated Other Comprehensive Income Loss | $-17.87M | $-65.81M | $-339.12M | $-195.93M | $-52.60M |
| Other Total Stockholders Equity | $13.33B | $13.58B | $13.35B | $- | $-7.21B |
| Total Stockholders Equity | $4.60B | $5.65B | $6.74B | $2.75B | $-3.99B |
| Total Equity | $4.70B | $5.69B | $6.75B | $2.75B | $-3.99B |
| Total Liabilities and Stockholders Equity | $6.80B | $7.66B | $8.81B | $3.76B | $3.98B |
| Minority Interest | $101.80M | $40.57M | $7.50M | $- | $- |
| Total Liabilities and Total Equity | $6.80B | $7.66B | $8.81B | $3.76B | $3.98B |
| Total Investments | $3.40B | $1.74B | $5.23B | $2.14B | $2.64B |
| Total Debt | $45.73M | $96.56M | $40.52M | $2.89M | $25.64M |
| Net Debt | $-2.06B | $-4.43B | $-2.12B | $-954.93M | $-874.71M |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|---|
| Net Income | $-839.53M | $-1.58B | $-1.30B | $-517.55M | $-1.00B |
| Depreciation and Amortization | $24.89M | $25.21M | $21.45M | $19.61M | $20.24M |
| Deferred Income Tax | $-3.81M | $-2.40M | $-1.09M | $- | $- |
| Stock Based Compensation | $164.66M | $373.89M | $548.47M | $180.09M | $179.69M |
| Change in Working Capital | $111.79M | $-133.83M | $291.40M | $-10.06M | $85.42M |
| Accounts Receivables | $64.41M | $-132.84M | $-374.68M | $-257.07M | $-62.63M |
| Inventory | $- | $- | $29.23M | $37.26M | $54.38M |
| Accounts Payables | $- | $-15.87M | $524.25M | $214.81M | $38.64M |
| Other Working Capital | $47.38M | $14.88M | $112.61M | $-5.05M | $55.03M |
| Other Non Cash Items | $126.47M | $200.58M | $-1.58M | $83.49M | $3.35M |
| Net Cash Provided by Operating Activities | $-415.53M | $-1.11B | $-440.23M | $-244.42M | $-715.52M |
| Investments in Property Plant and Equipment | $-8.49M | $-714.00K | $-7.44M | $-1.95M | $-5.75M |
| Acquisitions Net | $-63.59M | $-60.61M | $-33.18M | $- | $1.22M |
| Purchases of Investments | $-10.24B | $-14.26B | $-11.38B | $-8.48B | $-4.71B |
| Sales Maturities of Investments | $8.63B | $17.81B | $8.29B | $8.91B | $2.62B |
| Other Investing Activities | $-381.00K | $123.00K | $-3.10B | $9.00K | $-1.04M |
| Net Cash Used for Investing Activities | $-1.68B | $3.49B | $-3.14B | $430.11M | $-2.10B |
| Debt Repayment | $- | $- | $- | $- | $- |
| Common Stock Issued | $- | $- | $4.85B | $- | $- |
| Common Stock Repurchased | $-369.57M | $-127.96M | $- | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- |
| Other Financing Activities | $4.51M | $19.61M | $22.95M | $9.29M | $3.00B |
| Net Cash Used Provided by Financing Activities | $-365.06M | $-108.35M | $4.88B | $9.29M | $3.00B |
| Effect of Forex Changes on Cash | $42.51M | $101.53M | $-100.17M | $-137.51M | $7.49M |
| Net Change in Cash | $-2.42B | $2.37B | $1.20B | $57.47M | $187.06M |
| Cash at End of Period | $2.11B | $4.53B | $2.16B | $957.82M | $900.35M |
| Cash at Beginning of Period | $4.53B | $2.16B | $957.82M | $900.35M | $713.29M |
| Operating Cash Flow | $-415.53M | $-1.11B | $-440.23M | $-244.42M | $-715.52M |
| Capital Expenditure | $-8.88M | $-714.00K | $-7.44M | $-1.95M | $-5.75M |
| Free Cash Flow | $-424.40M | $-1.12B | $-447.67M | $-246.37M | $-721.27M |