Zhi Tong Cai Jing·2025-11-25 16:24Core Insights - Zhihu reported a revenue of 659 million yuan for Q3 2025, with a 16.3% year-on-year reduction in non-GAAP operating losses, indicating improved operational efficiency and quality [1] - The management expressed confidence in achieving profitability for the full year 2025, emphasizing a return to a healthier operational state [2] - The company plans to drive its community ecosystem through the synergy of high-quality content, expert networks, and AI capabilities, with a focus on innovative business models [1][2] Financial Performance - Zhihu's revenue structure optimization led to 386 million yuan from paid reading and 189 million yuan from marketing services, with other businesses contributing 83.9 million yuan [1] - The non-GAAP operating loss reduction reflects strict cost management and enhanced operational efficiency [1] - As of the end of Q3, Zhihu's cash and cash equivalents, along with short-term investments, totaled 4.58 billion yuan, indicating strong cash reserves [1] Future Outlook - The company aims to enhance its AI application, Zhihu Zhidao, which has seen a usage penetration rate exceeding 15%, nearly quadrupling from the same period last year [2] - Future upgrades for Zhihu Zhidao will include enhancements in search, creation, consumption, and circulation, aiming to improve AI integration within the community [2] - The CEO highlighted the increasing demand for social capital and high-quality content in the AI era, positioning Zhihu as a connector in the AI landscape [3]