Summary by Moomoo AI
Zhihu reported Q2 2024 total revenues of RMB933.8 million, down from RMB1,044.2 million YoY, while gross margin expanded to 59.6% from 53.8%. Net loss significantly narrowed by 71.1% to RMB80.6 million, marking the lowest quarterly loss since IPO. The company maintained 80.6 million MAUs and 14.7 million average monthly subscribing members.Revenue breakdown showed marketing services at RMB344.0 million, paid membership at RMB432.7 million, and vocational training at RMB133.6 million. Operating expenses decreased by 16.7% to RMB740.4 million, driven by more disciplined promotional spending and improved operational efficiency.The company's financial position remained solid with RMB5.06 billion in cash and investments as of June 30, 2024. Under its share repurchase programs, Zhihu had repurchased 31.1 million Class A ordinary shares for US$66.5 million and established a new 2024 Repurchase Program effective until June 2025.
