The following is the 1q21 revenue was 478.3 million yuan, up 154.2% year on year From Zhihu recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report, Investment & Economy, Q & a website.
On May 17, 2021, Zhihu released the company’s unaudited financial report for the first quarter ended March 31, 2021. According to the financial report, Zhihu’s total revenue in the first quarter was 478.3 million yuan (about 73 million US dollars), a year-on-year increase of 154.2%; The net loss was 324.7 million yuan (about 49.6 million US dollars), a year-on-year increase of 61.3%; In the first quarter, Zhihu’s adjusted net loss was 193.6 million yuan (about 29.5 million US dollars), an increase of 19.7% year on year.
In terms of users, Zhihu’s average number of monthly active users in the first quarter was 85 million, up 37.7% year on year. In the first quarter, the number of Zhihu paying members reached a new high, with the average monthly number of paying members rising to 4 million, a year-on-year increase of 138%, and the penetration rate of paying members reached 4.7%.
Zhou Yuan, founder and CEO of Zhihu, said, “thanks to the content centric growth and business model, we achieved strong growth and delivered a series of robust results in the first quarter.”. In terms of revenue structure, Zhihu’s diversified distribution has made a breakthrough. The proportion of non online advertising revenue in the total revenue has increased to 55%. Video upgrading has a positive impact on Zhihu’s user activity and content volume.
According to the financial report, the increase in the cost of Zhihu’s main business in this quarter was due to the increase in the cost of advertising services and content, as well as the increase in the cost of cloud services and bandwidth caused by the rapid growth of users, which increased from 110 million yuan in the same period of 2020 to 206 million yuan.
In the first quarter of 2021, the gross profit was 273 million yuan, an increase of 248.5% compared with the same period in 2020, and the gross profit rate increased to 57%, compared with 41.6% in the same period in 2020.
At present, Zhihu’s revenue channels mainly include online advertising, paid members, commercial content solutions and other businesses (including online education and e-commerce). Among them, thanks to Zhihu’s continuous improvement of brand awareness and excellent commercial advertising product capabilities, the revenue of online advertising business in the quarter was 214 million, with a year-on-year growth of 70.1%; The fast growth of paid member business is another important engine driving Zhihu’s content business model, with revenue of 127 million in the quarter, up 127% year on year; The commercial content solutions business launched in early 2020 has become another highlight of Zhihu’s financial report in the first quarter, with revenue of 121 million, accounting for 89% of last year’s annual revenue.
According to the financial report, the proportion of Zhihu’s online advertising revenue fell to 45% in the quarter from 62% in the whole year of last year, and the proportion of paid members, commercial content solutions and other businesses’ revenue has risen to 55%.
As of March 31, 2021, Zhihu’s total cash holdings, cash equivalents, time deposits and short-term investments amounted to $7.96 billion, compared with $3.097 billion as of December 31, 2020. This increase was mainly due to the net proceeds from Zhihu’s initial public offering and private placement completed in March 2021.
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