Zhihu (ZH) Cost of Revenue (2020 - 2026)
Zhihu (ZH) posted Cost of Revenue of $43.73 million for the quarter ended Jun 30, 2026, up 16.6% from $37.51 million a year earlier and up 14.6% from the prior quarter.
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Analysis
Zhihu (ZH) Cost of Revenue (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Zhihu was $160.46 million, down 1.5% year-over-year; for the year ended Dec 31, 2025, it was $157.48 million, down 18.9% from the prior year.
- Annual Cost of Revenue shows a five-year compound annual growth rate of 12.8% (years ended Dec 2020 to Dec 2025).
- In prior years, Zhihu's Cost of Revenue was $194.28 million in the year ended Dec 31, 2024 (-27.5%), $268.04 million in the year ended Dec 31, 2023 (+2.9%), $260.52 million in the year ended Dec 31, 2022 and $2.98 million in the year ended Dec 31, 2021 (-96.5%).
- The figure for the quarter ended Jun 30, 2026 stands as the highest quarterly Cost of Revenue since the quarter ended Jun 30, 2024.
- On a year-over-year basis, Cost of Revenue increased in 1 of the last eight quarters, with an average decline of 16.4%.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was the quarter ended Dec 31, 2021, with growth of 200.4%; the weakest was the quarter ended Mar 31, 2025, with a decline of 33.6%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $38.16 million (quarter ended Mar 31, 2026), $42.71 million (quarter ended Dec 31, 2025) and $35.86 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,173.87 Bn | 3,931.39 Bn | 73.85 Bn | 45.94 Bn |
| 2 | Meta Platforms | 1,849.67 Bn | 1,552.19 Bn | 49.47 Bn | 11.33 Bn |
| 3 | Netflix | 279.23 Bn | 239.43 Bn | 6.52 Bn | 6.04 Bn |
| 4 | Alibaba Group Holding | 245.86 Bn | 63.73 Bn | 15.11 Bn | 24.48 Bn |
| 5 | Shopify | 196.08 Bn | 173.27 Bn | 1.71 Bn | 1.88 Bn |
| 6 | Uber Technologies | 138.90 Bn | 110.88 Bn | 6.38 Bn | 7.82 Bn |
| 7 | Booking Holdings | 119.48 Bn | 52.53 Bn | - | - |
| 8 | PDD Holdings | 107.30 Bn | -144.64 Bn | 9.45 Bn | 7.08 Bn |
| 9 | Spotify Technology | 97.33 Bn | 54.56 Bn | 1.86 Bn | 3.70 Bn |
| 10 | Zhihu | 276.19 Mn | -2.00 Bn | 57.98 Mn | 43.73 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 43.73 Mn |
| Mar 31, 2026 | 38.16 Mn |
| Dec 31, 2025 | 42.71 Mn |
| Sep 30, 2025 | 35.86 Mn |
| Jun 30, 2025 | 37.51 Mn |
| Mar 31, 2025 | 38.39 Mn |
| Dec 31, 2024 | 43.64 Mn |
| Sep 30, 2024 | 43.45 Mn |
| Jun 30, 2024 | 51.91 Mn |
| Mar 31, 2024 | 57.81 Mn |
| Dec 31, 2023 | 65.52 Mn |
| Sep 30, 2023 | 64.93 Mn |
| Jun 30, 2023 | 66.49 Mn |
| Mar 31, 2023 | 70.19 Mn |
| Dec 31, 2022 | 70.38 Mn |
| Sep 30, 2022 | 65.70 Mn |
| Jun 30, 2022 | 65.16 Mn |
| Mar 31, 2022 | 64.31 Mn |
| Dec 31, 2021 | 84.64 Mn |
| Sep 30, 2021 | 61.86 Mn |
API Access
Zhihu Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ZH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "ZH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ZH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();