知乎2023年第一季度财务报告ZH 1Q23 Earnings Release_0522_HS-英

1 Zhihu Inc. Reports Unaudited First Quarter 2023 Financial Results BEIJING, China, May 24, 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 March 31, 2023. First Quarter 2023 Highlights ● Total revenues were RMB994.2 million (US$144.8 million) in the first quarter of 2023, representing a 33.8% increase from the same period of 2022. ● Net loss was RMB179.0 million (US$26.1 million) in the first quarter of 2023, narrowed by 70.9% from the same period in 2022. ● Adjusted net loss (non-GAAP)[1] was RMB120.2 million (US$17.5 million) in the first quarter of 2023, narrowed by 67.3% from the same period of 2022. ● Average monthly active users (MAUs)[2] reached 102.4 million in the first quarter of 2023, compared with 101.6 million in the same period of 2022. ● Average monthly subscribing members[3] reached 14.9 million in the first quarter of 2023, representing a 116.0% increase from the same period of 2022. “We are pleased to report a strong first quarter of 2023, with impressive revenue growth and another quarter of significantly narrowed loss. Our user growth reaccelerated during this quarter, and in March our MAUs surpassed 110 million, driven by our diverse content formats and enriched consumption scenarios. Our paid membership revenue reached the historical high while vocational training revenue continued to grow rapidly, as we extended our user coverage beyond the Zhihu community and deepened our services along the industry value chain. Our outstanding performance is a testament to our continued innovation in content community development and integration of cutting-edge AI technology.” said Mr. Yuan Zhou, chairman and chief executive officer of Zhihu. Mr. Henry Sha, chief financial officer of Zhihu, added, “We outperformed this quarter by beating market consensus in terms of both top line and bottom line. Our total revenues for the quarter increased by 33.8% year over year to RMB994.2 million, driven by robust growth in both paid membership and vocational training businesses, and our gross margin expanded to 51.5% from 45.1% in the same period last year. We also achieved RMB59.9 million operating cash flow during the first quarter. It is the first time that Zhihu generates positive operating cash flow since its initial public offering. We will continue to focus on our core business development and remain prudent in exploring potential opportunities.” First Quarter 2023 Financial Results Total revenues were RMB994.2 million (US$144.8 million) in the first quarter of 2023, representing growth of 33.8% from RMB743.2 million in the same period of 2022. 2 Marketing services revenue[4] was RMB392.1 million (US$57.1 million), compared with RMB444.1 million in the same period of 2022. The decrease was primarily due to the challenging macroeconomic environment. Paid membership revenue was RMB454