Zhihu (ZH) Current Deferred Revenue (2019 - 2026)

Zhihu has reported Current Deferred Revenue for 7 years, with the latest figure at $26.2 million in Q4 2025.

• Quarterly Current Deferred Revenue fell 20.01% year-over-year to $26.2 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $26.2 million (down 20.01% YoY) and the FY2025 annual result came in at $26.6 million, down 17.56% from the prior year.
• Current Deferred Revenue slipped to $26.2 million in Q4 2025 per ZH's latest filing, from $27.1 million in the prior quarter.
• Over five years, Current Deferred Revenue peaked at $55.0 million in Q1 2023 and troughed at $26.2 million in Q4 2025.
• A 5-year average of $39.3 million and a median of $39.6 million in 2021 frame the typical range for Current Deferred Revenue.
• The sharpest annual moves came in 2021 and 2025: Current Deferred Revenue surged 55.33% in 2021, then tumbled 31.86% in 2025.
• Over 5 years, Current Deferred Revenue stood at $37.5 million in 2021, then soared by 33.34% to $50.0 million in 2022, then retreated by 15.68% to $42.2 million in 2023, then dropped by 22.23% to $32.8 million in 2024, then dropped by 20.01% to $26.2 million in 2025.
• According to Business Quant data, Current Deferred Revenue over the past three periods registered $26.2 million, $27.1 million, and $28.6 million for Q4 2025, Q3 2025, and Q2 2025 respectively.