Q4 2024 Zhihu Inc Earnings Call Transcript
Key Points
- Zhihu Inc (ZH) reported its first-ever adjusted net income of RMB97.1 million, showcasing a significant turnaround from previous losses.
- The company achieved an adjusted operating profit of RMB23.1 million, a substantial improvement from an adjusted net operating loss of RMB165.3 million in the first quarter of the previous year.
- Zhihu Inc (ZH) successfully reduced community user acquisition expenses by 88% year over year, contributing to its profitability.
- The platform's AI initiative, Juda, achieved over 10 million monthly active users (MAU) and received positive feedback for its response completeness and accuracy.
- Zhihu Inc (ZH) maintained a stable user base with average monthly active users (MAUs) of 81.4 million, while improving user engagement metrics such as time spent per daily active user (DAU), which grew by 23% year over year.
- Total revenues for the full year 2024 decreased by 14.3% to RMB3,598.9 million, reflecting strategic adjustments away from lower-quality revenue streams.
- Pay membership revenue saw a slight decline, with average monthly paying members decreasing by 0.8% year over year.
- Vocational training revenue decreased by 50.4% year over year to RMB84 million, as the company streamlined its acquired business.
- Marketing services revenue declined compared to the previous year, with a focus on optimizing service offerings to enhance margins.
- Despite achieving profitability, Zhihu Inc (ZH) indicated that it might maintain a slight overall loss temporarily in 2025 to pursue AI integration opportunities.
Ladies and gentlemen, thank you for standing by and welcome to Zhihu fourth quarter and full year 2024 financial results conference call. (Operator Instructions) Today's conference is being recorded and webcasted. At this time, I'd like to turn the conference over to Yolanda Liu, Director of Investor Relations. Please go ahead, ma'am.
Thank you, Amberley. Hello, everyone. Welcome to Zhihu's fourth quarter and full year 2024 financial results conference call. Joining me on the call today from the senior management team are Mr. Zhou Yuan, our Founder, Chairman, and the Chief Executive Officer, and Mr. Wang Han, our Chief Financial Officer.
Before we get started, I'd like to remind you that today's discussion will include forward-looking statements made under the Safe Harbor provisions of the US Private Security Solicitation Reform Act of 1995. These statements involve inherent risks and uncertainties. As such, actual results may be materially different from the views expressed today. Further
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