Zhihu (ZH) Operating Expenses (2020 - 2026)
Zhihu (ZH) posted Operating Expenses of -$69.17 million for the quarter ended Jun 30, 2026, compared with -$75.27 million a year earlier.
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Analysis
Zhihu (ZH) Operating Expenses (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Zhihu was -$292.35 million; for the year ended Dec 31, 2025, it came in at -$308.17 million.
- In prior years, Zhihu's Operating Expenses was -$364.68 million in the year ended Dec 31, 2024, -$474.38 million in the year ended Dec 31, 2023, -$494.67 million in the year ended Dec 31, 2022 and -$462.07 million in the year ended Dec 31, 2021.
- Quarterly Operating Expenses has run from a low of -$155.18 million in the quarter ended Mar 31, 2022 to a high of $119.9 million in the quarter ended Dec 31, 2023 over five years.
- According to Business Quant data, Operating Expenses for the three prior quarters was -$65.41 million (quarter ended Mar 31, 2026), -$87.04 million (quarter ended Dec 31, 2025) and -$70.72 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 1.51 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | -5.17 Bn |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 1.22 Bn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 12.30 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 4.85 Bn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | -5.39 Bn |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 429.41 Mn |
| 10 | Zhihu | 310.41 Mn | -1.96 Bn | 57.98 Mn | -69.17 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -69.17 Mn |
| Mar 31, 2026 | -65.41 Mn |
| Dec 31, 2025 | -87.04 Mn |
| Sep 30, 2025 | -70.72 Mn |
| Jun 30, 2025 | -75.27 Mn |
| Mar 31, 2025 | -69.41 Mn |
| Dec 31, 2024 | -72.45 Mn |
| Sep 30, 2024 | -88.99 Mn |
| Jun 30, 2024 | -101.89 Mn |
| Mar 31, 2024 | -106.40 Mn |
| Dec 31, 2023 | 119.90 Mn |
| Sep 30, 2023 | -123.16 Mn |
| Jun 30, 2023 | -122.64 Mn |
| Mar 31, 2023 | -106.15 Mn |
| Dec 31, 2022 | -122.49 Mn |
| Sep 30, 2022 | -101.64 Mn |
| Jun 30, 2022 | -128.43 Mn |
| Mar 31, 2022 | -155.18 Mn |
| Dec 31, 2021 | -134.18 Mn |
| Sep 30, 2021 | -115.98 Mn |
API Access
Zhihu Operating Expenses 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=operating-expenses&ticker=ZH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=ZH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();