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KRKR

36Kr Holdings Inc.

KRKR

36Kr Holdings Inc. • NASDAQ
$4.82 ▲ 0.00% (+0.00)
Market Cap $8.57 M
52w High $21.36
52w Low $2.76
Dividend Yield 0%
P/E -1.52
Volume 368
Outstanding Shares 1.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2023 $103.331M ▲ $69.958M ▼ $-18.752M ▲ -18.148% ▲ $-11.25 $-11.928M ▲
Q3-2023 $96.966M ▲ $77.311M ▲ $-18.92M ▼ -19.512% ▼ $-11.25 ▼ $-22.43M ▼
Q2-2023 $84.363M ▲ $64.789M ▲ $-13.937M ▲ -16.52% ▲ $-8.5 ▲ $-17.909M ▲
Q1-2023 $55.525M ▼ $63.155M ▼ $-39.027M ▼ -70.287% ▼ $-23.5 ▼ $-39.55M ▼
Q4-2022 $96.575M $68.943M $-21.507M -22.27% $-12.75 $-19.514M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $91.713M ▼ $276.193M ▼ $157.945M ▼ $118.012M ▼
Q2-2024 $96.868M ▼ $346.44M ▼ $180.476M ▼ $158.406M ▼
Q4-2023 $116.961M ▲ $458.966M ▼ $197.106M ▼ $251.977M ▼
Q3-2023 $115.87M ▼ $478.1M ▼ $197.738M ▲ $271.57M ▼
Q2-2023 $136.351M $489.74M $191.953M $289.267M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2023 $-18.752M ▲ $0 ▼ $0 $0 $0 ▲ $0 ▼
Q3-2023 $-18.92M ▼ $155.654K ▲ $0 $0 $-4.474M ▼ $155.654K ▲
Q2-2023 $-13.937M ▲ $97.718K ▲ $0 $0 $-2.461M ▼ $97.718K ▲
Q1-2023 $-38.371M ▼ $0 ▼ $0 ▼ $0 ▲ $0 ▼ $0 ▼
Q4-2022 $-20.815M $59.064M $99.687M $-272.497M $6.17M $60.249M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been roughly flat to slightly declining over the last five years, which suggests the business has not yet entered a strong growth phase. Gross profit has held up reasonably well, meaning the basic content and services model can still generate value, but operating results remain consistently in the red. The company only turned a small profit in one recent year, with losses before and after that, showing an ongoing struggle to reach sustainable profitability. Very large swings in earnings per share mostly reflect share count changes, not a dramatic shift in the underlying business performance.

Balance Sheet

Balance Sheet The balance sheet has been gradually shrinking, with total assets and shareholders’ equity both trending down over time. Cash on hand is modest and lower than in the past, which reduces the financial cushion if losses continue. Debt is present but not particularly heavy, so the balance sheet risk is more about erosion of equity from ongoing losses than about high leverage. Overall, the company still has positive equity, but the trend is one of gradual weakening rather than strengthening.

Cash Flow

Cash Flow Cash generation is a weak spot: operating cash flow has been negative in most years, meaning the core business consumes cash rather than produces it. There was one standout year with solid positive cash flow, but this has not been sustained, suggesting that improvement was either temporary or hard to repeat. Free cash flow mirrors this pattern, as capital spending is very light, so the cash story is mostly about operations. Persistent negative cash flow increases reliance on existing cash and potential external funding over time.

Competitive Edge

Competitive Edge 36Kr operates in a niche of China’s New Economy information and services market, where it has built a recognizable brand for insightful, startup-focused content. Its platform benefits from network effects: startups, investors, and professionals all gain more value as more participants join and interact. The company differentiates itself from traditional media by offering business services, advertising solutions, and investor–startup matching, not just news. At the same time, it faces intense competition from other content platforms, changing user behavior, and regulatory and macroeconomic uncertainties in China, which can all pressure its position.

Innovation and R&D

Innovation and R&D The company is leaning heavily into AI and data to move beyond being a simple media outlet, with tools like automated report generation and corporate intelligence platforms. Its strategy is to turn its content and data into technology-enabled services that enterprises will pay for, deepening its ecosystem and creating higher-value offerings. Success here depends on whether it can meaningfully commercialize these AI products and scale its industrial and value-added services, rather than just showcasing the technology. Execution risk is real, but if successful, this could gradually improve growth quality and differentiate 36Kr from more traditional content peers.

Summary

Overall, 36Kr combines an interesting strategic story with a weaker financial picture. The business has a respected brand and a clear role in China’s New Economy ecosystem, plus early moves in AI and data-driven services that could expand its opportunity set. On the other hand, revenue is not clearly growing, profitability remains elusive, cash flow is often negative, and the balance sheet is slowly eroding rather than strengthening. The key tension is whether its innovation and ecosystem advantages can be translated into sustained growth and consistent profits before financial flexibility tightens further.

NEWS

September 29, 2025 · 6:01 AM UTC

Substantial Efficiency Gains from Cost Optimization, Unlocking New Growth via AI Empowerment and Industrial Services

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September 26, 2025 · 5:00 AM UTC

36Kr Holdings Inc. Reports Unaudited Financial Results for the First Half of 2025

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September 23, 2025 · 6:00 AM UTC

36Kr Holdings Inc. to Report 2025 First Half Financial Results on Friday, September 26, 2025

Read more