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

Zhihu's Current Deferred Revenue history runs 7 years deep, the most recent figure standing at $26.2 million for Q4 2025.

• In Q4 2025, Current Deferred Revenue fell 20.01% year-over-year to $26.2 million; the TTM figure through Dec 2025 stood at $26.2 million (down 20.01% YoY), while the FY2025 annual figure 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.
• 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.
• Across the five-year window, Current Deferred Revenue jumped 55.33% in 2021 and slumped 31.86% in 2025, its largest moves.
• Zhihu's Current Deferred Revenue stood at $37.5 million in 2021, then surged by 33.34% to $50.0 million in 2022, then fell by 15.68% to $42.2 million in 2023, then slipped by 22.23% to $32.8 million in 2024, then slipped 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.

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