Kanzhun (BZ) Q2 2025 earnings summary

Executive summary

• Achieved Q2 2025 revenue of RMB 2.1 billion, up 9.7% year-on-year, and net income of RMB 711.2 million, a 70.4% increase year-on-year, with net margin exceeding 33%.

• Adjusted net income for Q2 2025 was RMB 940.9 million, up 30.9% year-on-year, and adjusted operating profit reached RMB 818 million, up 33% year-on-year.

• Average verified monthly active users reached 63.6 million, up 16.5% year-on-year, with paid enterprise customers totaling 6.5 million.

• Blue collar, lower tier cities, and SME segments contributed more to revenue, with 88% of enterprise users being SMEs.

• Continued integration of AI and innovative mobile-native recruitment model to enhance user experience and efficiency.

Financial highlights

• Net income increased by 70.4% to RMB 711.2 million; adjusted net income rose 30.9% to RMB 940.9 million.

• Net margin improved by 12.1 percentage points year-on-year to 33.8%; adjusted net margin reached 44.8%.

• Gross margin increased to 85.7% in Q2 2025 from 84.1% in Q2 2024.

• Net cash from operating activities was RMB 1,052 million, up 21.1% year-on-year; cash position at RMB 16.02 billion as of June 30, 2025.

• Total operating cost and expenses decreased 7.2% year-on-year to RMB 1,454.4 million.

Outlook and guidance

• Q3 2025 revenue expected between RMB 2.13 billion and RMB 2.16 billion, representing 11.4%-13% year-on-year growth.

• Management expects business growth rate to accelerate in Q3, supported by improved job seeker-recruiter dynamics and ongoing investment in technology.