Zhihu (ZH) Cost of Revenue (2020 - 2026)

Zhihu has reported Cost of Revenue for 6 years, with the latest figure at $42.1 billion in Q4 2025.

• Quarterly Cost of Revenue rose 94965932.62% year-over-year to $42.1 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $79.7 billion (up 51896.34% YoY) and the FY2025 annual result came in at $157.5 million, down 18.94% from the prior year.
• Cost of Revenue grew to $42.1 billion in Q4 2025 per ZH's latest filing, from $35668.3 in the prior quarter.
• Over five years, Cost of Revenue peaked at $42.1 billion in Q4 2025 and troughed at $35668.3 in Q3 2025.
• A 5-year average of $4.0 billion and a median of $64.6 million in 2022 frame the typical range for Cost of Revenue.
• The sharpest annual moves came in 2024 and 2025: Cost of Revenue slumped 99.93% in 2024, then soared 94965932.62% in 2025.
• Over 5 years, Cost of Revenue stood at $84.6 million in 2021, then declined by 19.36% to $68.3 million in 2022, then slipped by 4.0% to $65.5 million in 2023, then slumped by 99.93% to $44346.7 in 2024, then jumped by 94965932.62% to $42.1 billion in 2025.
• According to Business Quant data, Cost of Revenue over the past three periods registered $42.1 billion, $35668.3, and $37.5 billion for Q4 2025, Q3 2025, and Q2 2025 respectively.