Zhihu (ZH) Current Deferred Revenue (2019 - 2025)

Zhihu has disclosed Current Deferred Revenue across 7 years of filings, most recently posting $26.2 million for Q4 2025.

• Current Deferred Revenue for Q4 2025 came in at $26.2 million, down 20.01% year-over-year; the trailing twelve-month figure through Dec 2025 was $26.2 million (down 20.01% YoY), and the FY2025 annual result was $26.6 million, down 17.56% from the prior year.
• Current Deferred Revenue came in at $26.2 million for Q4 2025 at Zhihu, down from $27.1 million in the prior quarter.
• In the past five years, Current Deferred Revenue ranged from a high of $55.0 million in Q1 2023 to a low of $26.2 million in Q4 2025.
• The 5-year median for Current Deferred Revenue is $39.6 million (2021), against an average of $39.3 million.
• Across the five-year window, Current Deferred Revenue soared 55.33% in 2021 and tumbled 31.86% in 2025, its largest moves.
• Zhihu's Current Deferred Revenue stood at $37.5 million in 2021, then jumped by 33.34% to $50.0 million in 2022, then declined by 15.68% to $42.2 million in 2023, then decreased by 22.23% to $32.8 million in 2024, then decreased by 20.01% to $26.2 million in 2025.
• The last three Current Deferred Revenue figures came in at $26.2 million (Q4 2025), $27.1 million (Q3 2025), and $28.6 million (Q2 2025), per Business Quant data.