知乎2023年第一季度财务报告ZH1Q23EarningsRelease_0522_HS-英_市场营.docx

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1、Zhihu Inc. Reports Unaudited First Quarter 2023 Financial ResultsBEIJING, China, May 24,2023 Zhihu Inc. (“Zhihu or the “Company) (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended March 31, 2023.First Quarter 202

2、3 Highlights Total revenues were RMB994.2 million (US$144.8 million) in the first quarter of 2023, representing a 33.8% increase from the same period of 2022. Net loss was RMB 179.0 million (US$26.1 million) in the first quarter of 2023, narrowed by 70.9% from the same period in 2022. Adjusted net l

3、oss (non-GAAP)1 was RMB 120.2 million (US$17.5 million) in the first quarter of 2023, narrowed by 67.3% from the same period of 2022. Average monthly active users (MAUS) reached 102.4 million in the first quarter of 2023, compared with 101.6 million in the same period of 2022. Average monthly subscr

4、ibing members3 reached 14.9 million in the first quarter of 2023, representing a 116.0% increase from the same period of 2022.“We are pleased to report a strong first quarter of 2023, with impressive revenue growth and another quarter of significantly narrowed loss. Our user growth reaccelerated dur

5、ing this quarter, and in March our MAUs surpassed 110 million, driven by our diverse content formats and enriched consumption scenarios. Our paid membership revenue reached the historical high while vocational training revenue continued to grow rapidly, as we extended our user coverage beyond the Zh

6、ihu community and deepened our services along the industry value chain. Our outstanding performance is a testament to our continued innovation in content community development and integration of cutting-edge AI technology. said Mr. Yuan Zhou9 chairman and chief executive officer of Zhihu.Mr. Henry S

7、ha, chief financial officer of Zhihu9 added, We outperformed this quarter by beating market consensus in terms of both top line and bottom line. Our total revenues for the quarter increased by 33.8% year over year to RMB994.2 million, driven by robust growth in both paid membership and vocational tr

8、aining businesses, and our gross margin expanded to 51.5% from 45.1% in the same period last year. We also achieved RMB59.9 million operating cash flow during the first quarter. It is the first time that Zhihu generates positive operating cash flow since its initial public offering. We will continue

9、 to focus on our core business development and remain prudent in exploring potential opportunities.First Quarter 2023 Financial ResultsTotal revenues were RMB994.2 million (US$144.8 million) in the first quarter of 2023, representing growth of 33.8% from RMB743.2 million in the same period of 2022.M

10、arketing services revenue141 was RMB392.1 million (US$57.1 million), compared with RMB444.1 million in the same period of 2022. The decrease was primarily due to the challenging macroeconomic environment.Paid membership revenue was RMB454.8 million (US$66.2 million), representing a 105.2% increase f

11、rom RMB221.7 million in the same period of 2022. The increase was primarily attributable to the continued growth of our average monthly subscribing members which reached 14.9 million from 6.9 million in the same period of 2022.Vocational training revenue was RMB 107.0 million (US$15.6 million), repr

12、esenting a 170.6% increase from RMB39.5 million in the first quarter of 2022. The significant increase was primarily attributable to our further enriched online course offerings and the revenue contributions from our recently acquired businesses in the period.Other revenues were RMB40.3 million (US$

13、5.9 million), representing a 6.3% increase from RMB37.9 million in the same period of 2022. The year-over-year increase was primarily attributable to the increased sales of our private label products and book series.Cost of revenues increased by 18.2% to RMB482.0 million (US$70.2 million) from RMB40

14、7.7 million in the same period of 2022. The increase was primarily due to an increase in content and operating costs to enhance our content attractiveness, as well as an increase in payment processing costs in connection with our revenue growth, partially offset by the decrease in cloud services and

15、 bandwidth costs resulting from our improved technology efficiency.Gross profit was RMB512.2 million (US$74.6 million), representing a 52.7% increase from RMB335.5 million in the same period of 2022. Gross margin expanded to 51.5% from 45.1% in the same period of 2022, primarily attributable to our

16、enhanced monetization efforts and the improvement of cloud services and bandwidth utilization efficiency.Total operating expenses decreased by 25.9% to RMB729.0 million (US$106.1 million) from RMB983.7 million in the same period of 2022.Selling and marketing expenses decreased by 12.0% to RMB445.6 million (US$64.9 million) from RMB506.6 million in the same period of 2022, primarily due to more disciplined promotional spending and decrease