TapTechNews June 12th news, Zhihu today released its performance report for the first quarter of 2024. The financial report shows that the total revenue of Zhihu in the first quarter was $144.13 million, while that in the same period of 2023 was $149.13 million, a 3% year-on-year decline.
The net loss of Zhihu in the first quarter of 2024 was $24.87 million, which was 7.4% narrower than that in the same period of 2023; the adjusted net loss (non-GAAP) in the first quarter of 2024 was $20.36 million, while that in the same period of 2023 was $18.03 million.
TapTechNews attached the specific business revenue data as follows:
The revenue of the paid reading business was $67.46 million, and the proportion increased to 46.8%, firmly remaining the first largest source of income; however, it was $68.22 million in the same period of 2023, and the slight decline was mainly due to a slight decrease in the average monthly number of subscribed members.
The revenue of vocational education was $21.81 million, a year-on-year increase of 35.9%, and the proportion exceeded 15% for the first time, and this growth was mainly benefited from the further enriched online course content.
The marketing service revenue reached $49.58 million, and it was $58.82 million in the same period of 2023.
Other revenues were $5.28 million, while it was $6.05 million in the same period of 2023.
In the first quarter of 2024, the gross profit of Zhihu increased by 6.1% year-on-year to $81.6 million, and the gross margin increased from 51.5% in the same period of last year to 56.6%. In addition, in the first quarter, the average monthly active users of Zhihu reached 89 million, and the monthly average number of subscribed members reached 14.8 million. By the end of the quarter, the cumulative content creation volume reached 804 million.
Zhou Yuan, the founder, chairman and CEO of Zhihu, said: In 2024, we have made substantial progress in achieving the breakeven goal by improving operational efficiency and accelerating loss reduction. In addition, by enhancing the trustworthiness of the Zhihu community and continuously promoting the prosperity of the community, the activity, retention rate and daily active user visiting time of core users have also increased significantly. We believe that the potential contained in the AI search function and the continuously emerging value of the trusted community will provide a new impetus for our sustainable growth and also clarify the direction for quarterly profitability this year.