Zhihu (ZH) Accumulated Expenses (2019 - 2025)

Zhihu has disclosed Accumulated Expenses across 7 years of filings, most recently posting $26.5 million for Q4 2025.

• Accumulated Expenses for Q4 2025 came in at $26.5 million, down 30.82% year-over-year; the trailing twelve-month figure through Dec 2025 was $26.5 million (down 30.82% YoY), and the FY2025 annual result was $26.9 million, down 28.7% from the prior year.
• Accumulated Expenses came in at $26.5 million for Q4 2025 at Zhihu, up from $22.4 million in the prior quarter.
• In the past five years, Accumulated Expenses ranged from a high of $50.0 million in Q1 2022 to a low of $22.4 million in Q3 2025.
• The 5-year median for Accumulated Expenses is $38.4 million (2021), against an average of $37.5 million.
• Across the five-year window, Accumulated Expenses soared 40.24% in 2021 and slumped 30.82% in 2025, its largest moves.
• Zhihu's Accumulated Expenses stood at $49.1 million in 2021, then decreased by 18.74% to $39.9 million in 2022, then advanced by 19.19% to $47.5 million in 2023, then decreased by 19.35% to $38.3 million in 2024, then plunged by 30.82% to $26.5 million in 2025.
• The last three Accumulated Expenses figures came in at $26.5 million (Q4 2025), $22.4 million (Q3 2025), and $23.3 million (Q2 2025), per Business Quant data.