• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Waterdrop Inc. Announces Second Quarter 2024 Unaudited Financial Results and a Special Cash Dividend

    9/4/24 6:18:00 AM ET
    $WDH
    Specialty Insurers
    Finance
    Get the next $WDH alert in real time by email

    BEIJING, Sept. 4, 2024 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE:WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced its unaudited financial results for the three and six months ended June 30, 2024 and a special cash dividend.

    Financial and Operational Highlights for the Second Quarter of 2024

    • Substantial growth in profit and positive operating cash flow: In the second quarter of 2024, net profit attributable to our ordinary shareholders reached RMB88.3 million, representing a year-over-year growth of 306.9%. As of June 30, 2024, we continued to generate positive operating cash flow during the second quarter of 2024.
    • Resilient revenue amidst industry challenges: For the second quarter of 2024, the first-year premiums ("FYP") generated through our insurance business amounted to RMB1,778.6 million (US$244.7 million), representing a decrease of 19.0% year over year. Net operating revenue was RMB676.2 million (US$93.0 million), representing a decrease of 0.4% year over year.
    • Improving margin of insurance segment: For the second quarter of 2024, the operating profit margin of insurance business increased year over year to 21.4%, compared with 16.7% for the same quarter of 2023.
    • Broadened crowdfunding coverage: As of June 30, 2024, around 461 million people cumulatively had donated an aggregate of RMB65.1 billion to 3.25 million patients through Waterdrop Medical Crowdfunding.
    • Digital clinical trial services in good progress: As of June 30, 2024, the Company had cumulatively enrolled nearly 8,600 patients into 1,050 clinical trial programs through the E-Find Platform.

    Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop, commented, "During the second quarter of 2024, we delivered sound results in profitability. The quarterly net profit attributable to our ordinary shareholders reached RMB88.3 million, representing a significant year-over-year growth of 306.9%.

    Our insurance business has shown sequential developments with FYP increasing by 1.4% quarter-over-quarter. We have continually improved online traffic conversion capabilities and efficiency, driving the number of new users to grow at 15.8%. At the same time, we have effectively sustained the policy renewal rate at high level.

    Committed to investment in technology, we further piloted our Shuishou large language model, known as "Waterdrop Guardian", in multiple service scenarios covering medical, critical illness, and auto insurance categories. During the quarter, the Company initiated a strategic cooperation with a property & casualty (P&C) insurer. This is the first time we export a customized solution of non-life insurance and we look forward to empowering more industry partners with AI solutions.

    We continually iterate service and business processes in medical crowdfunding to address user pain points. For instance, in regions populated by ethnic minorities, our platform now supports bilingual fundraising, aiding in the spread of cases within local communities and bolstered by AI-assisted bilingual case verification to minimize fraud.

    During this quarter, our healthcare-related business maintained its growth, realizing a quarter-over-quarter growth of 4.1%. We collaborated with a total of 185 pharmaceutical companies and contract research organizations ("CROs"). Moreover, we enrolled more than 820 patients and initiated services for 88 new programs during the second quarter of 2024. We stay focused on digitalization trends in clinical trial and multichannel marketing solutions to serve a broader client base from this angle.

    We are grateful for the ongoing support of our shareholders and investors, and prioritize shareholder interests and investor returns. The Company has actively carried out share repurchases for three consecutive years, and our board has recently approved a new annual repurchase plan. The repurchased shares will continue to be used in employee share incentive plans.

    In addition, we also completed our first special cash dividend in the past quarter. We are pleased to announce that, with the board approval, the Company will soon start the second special cash dividend of approximately US$7.5 million."

    Financial Results for the Second Quarter of 2024

    Operating revenue, net

    Net operating revenue for the second quarter of 2024 decreased by 0.4% year over year to RMB676.2 million (US$93.0 million) from RMB678.7 million for the same period of 2023. On a quarter-over-quarter basis, net operating revenue decreased by 4.1%. Net operating revenue generated by Shenlanbao(1) for the second quarter of 2024 was RMB40.4 million (US$5.6 million).

    • Insurance-related income includes insurance brokerage income and technical service income. Insurance brokerage income represents brokerage commissions earned from insurance companies. Technical service income is derived from providing technical services including customer relationship maintenance, customer complaint management, claim review, and user referral services, among other things, to insurance companies, insurance brokers, and agency companies. Our insurance-related income amounted to RMB573.8 million (US$79.0 million) in the second quarter of 2024, representing a decrease of 4.0% year over year from RMB597.4 million for the second quarter of 2023, which was mainly due to the decrease in FYP. On a quarter-over-quarter basis, insurance-related income decreased by 5.4%.
    • Crowdfunding service fees represent the service income earned when patients successfully withdraw the proceeds from their crowdfunding campaigns. Our role is to operate the Waterdrop Medical Crowdfunding platform to provide crowdfunding related services through the internet, enabling patients with significant medical bills to seek help from caring hearts through technology (the "medical crowdfunding services"). Our medical crowdfunding services generally consist of providing technical and internet support, managing, reviewing and supervising the crowdfunding campaigns, providing comprehensive risk management and anti-fraud measures, and facilitating the collection and transfer of the funds. For the second quarter of 2024, we generated RMB69.3 million (US$9.5 million) in service fees, representing an increase of 55.2% year over year from RMB44.7 million for the second quarter of 2023. On a quarter-over-quarter basis, crowdfunding service fees increased by 2.9%.
    • We are expanding the healthcare-related services, including digital clinical trial solution and digital multichannel marketing solution. Digital clinical trial solution income represents the service income earned from our customers mainly including biopharmaceutical companies and leading biotechnology companies. We match qualified and suitable patients for enrollment in clinical trials for our customers and generate digital clinical trial solution revenue for successful matches and we typically charge our customers a fixed unit price per successful match. Digital multichannel marketing solution income is derived from life science and healthcare companies. Focusing on the needs of our customers, we provide comprehensive digital marketing solutions around the whole life cycle of products through integrated services such as patient screening, medication management, doctor-patient services, innovative payment methods, and channel marketing. For the second quarter of 2024, our healthcare-related income amounted to RMB26.4 million (US$3.6 million), representing a decrease of 17.0% from RMB31.8 million in the same period of 2023. On a quarter-over-quarter basis, healthcare-related income increased by 4.2%.

    Operating costs and expenses

    Operating costs and expenses decreased by 13.4% year over year to RMB623.8 million (US$85.8 million) for the second quarter of 2024. On a quarter-over-quarter basis, operating costs and expenses decreased by 5.2%. Operating costs and expenses from Shenlanbao(1) for the second quarter of 2024 were RMB57.4 million (US$7.9 million).

    • Operating costs decreased by 4.2% year over year to RMB319.1 million (US$43.9 million) for the second quarter of 2024, as compared with RMB333.1 million for the second quarter of 2023, which was primarily driven by (i) a decrease of RMB12.9 million in costs of referral and service fees, (ii) a decrease of RMB8.6 million in the costs for patient recruitment consultants team, partially offset by (iii) an increase of RMB11.5 million in personnel costs mainly due to the consolidation of the financial results of Shenlanbao which incurred personnel costs of RMB16.9 million. On a quarter-over-quarter basis, operating costs decreased by 3.7% from RMB331.2 million, primarily due to a decrease of RMB9.9 million in costs of referral and service fees. 
    • Sales and marketing expenses decreased by 23.0% year over year to RMB157.4 million (US$21.7 million) for the second quarter of 2024, as compared with RMB204.5 million for the same quarter of 2023. The decrease was primarily due to (i) a decrease of RMB38.0 million in marketing expenses to third-party traffic channels, and (ii) a decrease of RMB33.2 million in personnel costs and share-based compensation expenses, partially offset by (iii) the consolidation of the financial results of Shenlanbao which incurred sales and marketing expenses of RMB30.1 million. On a quarter-over-quarter basis, sales and marketing expenses decreased by 13.6% from RMB182.1 million, primarily due to (i) a decrease of RMB14.4 million in marketing expenses to third-party traffic channels, (ii) a decrease of RMB4.9 million in sales and marketing personnel costs and share-based compensation expenses, and (iii) a decrease of RMB2.7 million in outsourced sales and marketing service fees to third parties.
    • General and administrative expenses decreased by 2.1% year over year to RMB94.0 million (US$12.9 million) for the second quarter of 2024, compared with RMB96.0 million for the same quarter of 2023. The year-over-year variance was due to (i) a decrease of RMB5.5 million in personnel costs and share-based compensation expenses, (ii) a decrease of RMB8.4 million in professional service fees, partially offset by (iii) an increase of RMB12.6 million allowance for doubtful accounts. On a quarter-over-quarter basis, general and administrative expenses increased by 5.6% from RMB89.0 million, due to (i) an increase of RMB8.0 million allowance for doubtful accounts, partially offset by (ii) a decrease of RMB1.7 million in professional service fees.
    • Research and development expenses decreased by 38.5% year over year to RMB53.3 million (US$7.3 million) for the second quarter of 2024, compared with RMB86.7 million for the same period of 2023. The decrease was primarily due to a decrease of RMB35.3 million in personnel costs and share-based compensation expenses, partially offset by the consolidation of the financial results of Shenlanbao. On a quarter-over-quarter basis, research and development expenses decreased by 4.8% from RMB56.0 million, which was mainly due to a decrease of RMB2.8 million in research and development personnel costs and share-based compensation expenses.

    Operating profit for the second quarter of 2024 was RMB52.4 million (US$7.2 million), as compared with an operating loss of RMB41.6 million for the second quarter of 2023 and an operating profit of RMB46.4 million for the first quarter of 2024.

    Interest income for the second quarter of 2024 was RMB37.5 million (US$5.2 million), as compared with RMB37.6 million for the second quarter of 2023 and RMB39.8 million for the first quarter of 2024. The decrease was primarily due to the decrease in our short-term and long-term investments. 

    Income tax expense for the second quarter of 2024 was RMB7.0 million (US$1.0 million), as compared with an income tax benefit of RMB10.5 million for the second quarter of 2023 and an income tax expense of RMB8.6 million for the first quarter of 2024.

    Net profit attributable to the Company's ordinary shareholders for the second quarter of 2024 was RMB88.3 million (US$12.1 million), as compared with RMB21.7 million for the same period of 2023, and RMB80.6 million for the first quarter of 2024.

    Adjusted net profit attributable to the Company's ordinary shareholders (non-GAAP(2)) for the second quarter of 2024 was RMB108.7 million (US$15.0 million), as compared with RMB50.3 million for the same period of 2023, and RMB98.4 million for the first quarter of 2024. 

    Cash and cash equivalents and short-term investments

    As of June 30, 2024, the Company had combined cash and cash equivalents and short-term investments of RMB2,933.3 million (US$403.6 million), as compared with RMB3,393.4 million as of December 31, 2023.







    (1) 

    We started to consolidate the financial results of Shenzhen Cunzhen Qiushi Technology Co., Ltd. and its subsidiaries (collectively, "Cunzhen Qiushi", also known as "Shenlanbao") in the third quarter of 2023.

    (2) 

    See the sections entitled "Non-GAAP Financial Measure" and "Reconciliations of GAAP and Non-GAAP Results" for more information about the non-GAAP measures referred to in this announcement.

    Share Repurchase Programs

    Pursuant to the share repurchase programs launched in September 2021, September 2022 and September 2023, respectively, we had cumulatively repurchased approximately 49.3 million ADSs from the open market with cash for a total consideration of over US$100.4 million as of August 31, 2024.

    The board of the directors of the Company (the "Board") has approved a new share repurchase program whereby the Company is authorized to repurchase its own ordinary shares in the form of American depository shares with an aggregate value of up to US$50 million during the 12-month period through September 9, 2025. The Company expects to fund the repurchase out of its existing cash balance. The Company's proposed repurchase may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing and dollar amount of repurchase transactions will be subject to the Securities and Exchange Commission Rule 10b-18 and/or Rule 10b5-1 requirements. The Board will review the share repurchase program periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program.

    Special Cash Dividend

    The Board has approved a special cash dividend of US$0.02 per ADS or US$0.002 per ordinary share to shareholders of record as of the close of business on October 11, 2024. The payment date is expected to be on or around November 5, 2024 for holders of ordinary shares and on or around November 8, 2024 for holders of ADSs.

    Supplemental Information

    We organize and report our business in three operating segments:

    • Insurance, which mainly includes Waterdrop Insurance Marketplace, Shenlanbao Insurance Marketplace and technical support service;
    • Crowdfunding, which mainly includes Waterdrop Medical Crowdfunding; and
    • Others, which mainly include Digital Clinical Trial Solution and other new initiatives.

    The table below sets forth the segment operating results, with the six-month comparative figures retrospectively adjusted to conform to this presentation.





    For the Three Months Ended 



    For the Six Months Ended 





    June 30, 2023



    March 31, 2024



    June 30, 2024



    June 30, 2023*



    June 30, 2024





    RMB



    RMB



    RMB



    USD



    RMB



    RMB



    USD





    (All amounts in thousands)

    Operating revenue, net





























     Insurance** 



    597,437



    606,777



    573,832



    78,962



    1,133,780



    1,180,609



    162,457

     Crowdfunding 



    44,677



    67,350



    69,323



    9,539



    86,699



    136,673



    18,807

     Others 



    36,586



    30,573



    33,001



    4,541



    64,386



    63,574



    8,748

    Total consolidated operating

       revenue, net



    678,700



    704,700



    676,156



    93,042



    1,284,865



    1,380,856



    190,012

    Operating profit/(loss)





























     Insurance** 



    99,759



    129,163



    122,955



    16,919



    254,714



    252,118



    34,693

     Crowdfunding 



    (64,131)



    (32,237)



    (22,936)



    (3,156)



    (125,265)



    (55,173)



    (7,592)

     Others 



    (47,877)



    (31,432)



    (27,450)



    (3,778)



    (84,444)



    (58,882)



    (8,103)

    Total segment operating

       (loss)/profit



    (12,249)



    65,494



    72,569



    9,985



    45,005



    138,063



    18,998

    Unallocated item***



    (29,393)



    (19,130)



    (20,205)



    (2,780)



    (76,319)



    (39,335)



    (5,412)

    Total consolidated operating

       (loss)/profit



    (41,642)



    46,364



    52,364



    7,205



    (31,314)



    98,728



    13,586

    Total other income



    52,835



    42,781



    38,366



    5,280



    89,606



    81,147



    11,166

    Profit before income tax



    11,193



    89,145



    90,730



    12,485



    58,292



    179,875



    24,752

    Income tax benefit/(expense)



    10,504



    (8,588)



    (7,026)



    (967)



    13,130



    (15,614)



    (2,149)

    Net profit



    21,697



    80,557



    83,704



    11,518



    71,422



    164,261



    22,603

     

    *

    Staring from the second quarter of 2023, our chief operating decision maker starts to manage the business by three operating

    segments and assess the performance and allocate resources under the new operating segment structure. The six-month

    comparative figures were retrospectively adjusted to conform to this presentation.

    **

    The Company started to consolidate the financial results of Shenlanbao since July 4, 2023 and reported the results of 

    Shenlanbao under the Insurance segment.

    ***

    The share-based compensation represents an unallocated item in the segment information because our management does 

    not consider this as part of the segment operating performance measure.

    Exchange Rate

    This announcement contains translations of certain RMB amounts into U.S. dollars ("USD" or "US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

    Non-GAAP Financial Measure

    The Company uses non-GAAP financial measure, adjusted net profit attributable to our ordinary shareholders, in evaluating the Company's operating results and for financial and operational decision-making purposes. Adjusted net profit attributable to our ordinary shareholders represents net profit attributable to our ordinary shareholders excluding share-based compensation expense attributable to our ordinary shareholders and foreign currency exchange gain or losses. Such adjustments have no impact on income tax.

    The non-GAAP financial measure is not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measure has limitations as analytical tools and when assessing the Company's operating performance, investors should not consider it in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Investors are encouraged to review the Company's historical non-GAAP financial measure to the most directly comparable GAAP measure. Adjusted net profit attributable to our ordinary shareholders presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measure differently, limiting its usefulness as a comparative measure to our data.

    The Company mitigates these limitations by reconciling the non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance.

    For more information on the non-GAAP financial measure, please see the table captioned "Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release.

    Safe Harbor Statement

    This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. Waterdrop may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Waterdrop's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Waterdrop's mission, goals and strategies; Waterdrop's future business development, financial condition and results of operations; the expected growth of the insurance, medical crowdfunding and healthcare industry in China; Waterdrop's expectations regarding demand for and market acceptance of our products and services; Waterdrop's expectations regarding its relationships with consumers, insurance carriers and other partners; competition in the industry and relevant government policies and regulations relating to insurance, medical crowdfunding and healthcare industry. Further information regarding these and other risks is included in Waterdrop's filings with the SEC. All information provided in this press release is as of the date of this press release, and Waterdrop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Conference Call Information 

    Waterdrop's management team will hold a conference call on September 4, 2024 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day) to discuss the financial results. Dial-in details for the earnings conference call are as follows:

    International:

    1-412-317-6061

    United States Toll Free:

    1-888-317-6003

    Hong Kong Toll Free:

    800-963976

    Hong Kong:

    852-58081995

    Mainland China:

    4001-206115

    Chinese Line (Mandarin) Entry Number:

    9073979

    English Interpretation Line (Listen-only Mode) Entry Number:

    6371615

    Participants can choose between the Chinese and the English interpretation lines. Please note that the English interpretation option will be in listen-only mode. Please dial in 15 minutes before the call is scheduled to begin and provide the Elite Entry Number to join the call.

    Telephone replays will be accessible two hours after the conclusion of the conference call until September 11, 2024 by dialing the following numbers:

    United States Toll Free:

    1-877-344-7529

    International:

    1-412-317-0088

    Chinese Line Access Code:

    7243413

    English Interpretation Line Access Code:

    8969523

    A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.waterdrop-inc.com/.

    About Waterdrop Inc.

    Waterdrop Inc. (NYSE:WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visit www.waterdrop-inc.com.

    For investor inquiries, please contact

    Waterdrop Inc.

    [email protected] 

     

    WATERDROP INC.

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (All amounts in thousands, unless otherwise noted)





    As of 



    December 31,2023



    June 30, 2024



    RMB



    RMB



    USD

    Assets











    Current assets











           Cash and cash equivalents

    396,905



    719,036



    98,943

           Restricted cash 

    577,121



    507,151



    69,786

           Short-term investments

    2,996,527



    2,214,227



    304,688

           Accounts receivable, net 

    693,110



    718,002



    98,800

           Current contract assets 

    572,871



    611,290



    84,116

           Amount due from related parties

    65



    169



    23

           Prepaid expense and other assets

    189,846



    194,769



    26,801

    Total current assets

    5,426,445



    4,964,644



    683,157

    Non-current assets











           Non-current contract assets

    134,383



    154,745



    21,294

           Property, equipment and software, net

    33,878



    30,729



    4,228

           Intangible assets, net

    177,407



    173,635



    23,893

           Long-term investments

    211,758



    581,813



    80,060

           Right of use assets, net

    59,851



    63,580



    8,749

           Deferred tax assets

    24,190



    31,279



    4,304

           Goodwill

    80,751



    80,751



    11,112

    Total non-current assets

    722,218



    1,116,532



    153,640

    Total assets

    6,148,663



    6,081,176



    836,797













    Liabilities, Mezzanine Equity and Shareholders' Equity 











    Current liabilities











           Amount due to related parties

    9,509



    10,031



    1,380

           Insurance premium payables 

    591,953



    521,272



    71,729

           Accrued expenses and other current liabilities

    597,684



    651,874



    89,701

           Short-term loans

    137,557



    -



    -

           Current lease liabilities

    32,908



    37,246



    5,125

    Total current liabilities 

    1,369,611



    1,220,423



    167,935

    Non-current liabilities











           Non-current lease liabilities

    27,293



    26,462



    3,641

           Deferred tax liabilities

    73,305



    95,592



    13,154

    Total non-current liabilities

    100,598



    122,054



    16,795

    Total liabilities

    1,470,209



    1,342,477



    184,730













    Mezzanine Equity











           Redeemable non-controlling interests

    92,760



    88,099



    12,123













    Shareholders' equity











           Class A ordinary shares

    112



    112



    15

           Class B ordinary shares

    27



    27



    4

           Treasury stock

    (12)



    (15)



    (2)

           Additional paid-in capital

    7,003,423



    6,860,770



    944,073

           Accumulated other comprehensive income

    144,107



    182,747



    25,147

           Accumulated deficit

    (2,561,963)



    (2,393,041)



    (329,293)

    Total shareholders' equity

    4,585,694



    4,650,600



    639,944

    Total liabilities, mezzanine equity and shareholders' equity

    6,148,663



    6,081,176



    836,797

     

     

    WATERDROP INC.

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

    (All amounts in thousands, except for share and per share data, or otherwise noted)







    For the Three Months Ended 



    For the Six Months Ended 





    June 30, 2023



     March 31, 2024  



    June 30, 2024



    June 30, 2023



    June 30, 2024





    RMB



    RMB



    RMB



    USD



    RMB



    RMB



    USD































    Operating revenue, net



    678,700



    704,700



    676,156



    93,042



    1,284,865



    1,380,856



    190,012

    Operating costs and expenses(i)





























     Operating costs 



    (333,140)



    (331,243)



    (319,101)



    (43,910)



    (581,123)



    (650,344)



    (89,490)

     Sales and marketing expenses 



    (204,548)



    (182,146)



    (157,413)



    (21,661)



    (377,949)



    (339,559)



    (46,725)

     General and administrative expenses 



    (95,997)



    (88,961)



    (93,978)



    (12,932)



    (191,795)



    (182,939)



    (25,173)

     Research and development expenses 



    (86,657)



    (55,986)



    (53,300)



    (7,334)



    (165,312)



    (109,286)



    (15,038)

    Total operating costs and expenses



    (720,342)



    (658,336)



    (623,792)



    (85,837)



    (1,316,179)



    (1,282,128)



    (176,426)

    Operating (loss)/profit



    (41,642)



    46,364



    52,364



    7,205



    (31,314)



    98,728



    13,586

    Other income





























     Interest income 



    37,618



    39,804



    37,510



    5,162



    68,494



    77,314



    10,639

     Foreign currency exchange gain/(loss) 



    838



    1,514



    (444)



    (61)



    1,120



    1,070



    147

     Others, net 



    14,379



    1,463



    1,300



    179



    19,992



    2,763



    380

    Profit before income tax



    11,193



    89,145



    90,730



    12,485



    58,292



    179,875



    24,752

     Income tax benefit/(expense) 



    10,504



    (8,588)



    (7,026)



    (967)



    13,130



    (15,614)



    (2,149)

    Net profit 



    21,697



    80,557



    83,704



    11,518



    71,422



    164,261



    22,603

     Net loss attributable to mezzanine equity classified as non-

        controlling interests shareholders 



    -



    (75)



    (4,586)



    (631)



    -



    (4,661)



    (641)

    Net profit attributable to ordinary shareholders



    21,697



    80,632



    88,290



    12,149



    71,422



    168,922



    23,244

    Other comprehensive income:





























     Foreign currency translation adjustment, net of tax 



    64,434



    25,143



    13,497



    1,857



    67,820



    38,640



    5,317

     Unrealized loss on available for sale investments, net of tax 



    (3,508)



    -



    -



    -



    (1,551)



    -



    -

    Total comprehensive income



    82,623



    105,700



    97,201



    13,375



    137,691



    202,901



    27,920

     Total comprehensive loss attributable to mezzanine equity classified 

        as non-controlling interests shareholders 



    -



    (75)



    (4,586)



    (631)



    -



    (4,661)



    (641)

    Total comprehensive income attributable to ordinary shareholders



    82,623



    105,775



    101,787



    14,006



    137,691



    207,562



    28,561

    Weighted average number of ordinary shares used in computing

        net profit per share





























     Basic 



    3,795,521,186



    3,696,619,172



    3,660,589,600



    3,660,589,600



    3,831,316,817



    3,678,604,386



    3,678,604,386

     Diluted 



    3,949,592,050



    3,756,462,107



    3,734,346,444



    3,734,346,444



    3,988,673,677



    3,745,404,276



    3,745,404,276

    Net profit per share attributable to ordinary shareholders





























     Basic 



    0.01



    0.02



    0.02



    0.00



    0.02



    0.05



    0.01

     Diluted 



    0.01



    0.02



    0.02



    0.00



    0.02



    0.05



    0.01































    (i)  Share-based compensation expenses are included in the operating costs and expenses as follows. 



































    For the Three Months Ended 



    For the Six Months Ended 





    June 30, 2023



     March 31, 2024 



    June 30, 2024



    June 30, 2023



    June 30, 2024





    RMB



    RMB



    RMB



    USD



    RMB



    RMB



    USD































    Sales and marketing expenses



    (7,888)



    (1,820)



    (1,320)



    (181)



    (24,417)



    (3,140)



    (432)

    General and administrative expenses



    (18,122)



    (14,327)



    (16,285)



    (2,241)



    (44,582)



    (30,612)



    (4,212)

    Research and development expenses



    (3,383)



    (2,983)



    (2,600)



    (358)



    (7,320)



    (5,583)



    (768)

    Total 



    (29,393)



    (19,130)



    (20,205)



    (2,780)



    (76,319)



    (39,335)



    (5,412)

     

     

    WATERDROP INC.

    RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

    (All amounts in thousands, unless otherwise noted)







    For the Three Months Ended 



    For the Six Months Ended 





    June 30, 2023



    March 31, 2024



    June 30, 2024



    June 30, 2023



    June 30, 2024





    RMB



    RMB



    RMB



    USD



    RMB



    RMB



    USD































    Net profit attributable to the Company's ordinary shareholders



    21,697



    80,632



    88,290



    12,149



    71,422



    168,922



    23,244

    Add:





























            Share-based compensation expense attributable to the Company's

                ordinary shareholders



    29,393



    19,260



    20,015



    2,754



    76,319



    39,274



    5,404

            Foreign currency exchange (gain)/loss



    (838)



    (1,514)



    444



    61



    (1,120)



    (1,070)



    (147)

    Adjusted net profit attributable to the Company's ordinary

        shareholders



    50,252



    98,378



    108,749



    14,964



    146,621



    207,126



    28,501

     

     

    Cision View original content:https://www.prnewswire.com/news-releases/waterdrop-inc-announces-second-quarter-2024-unaudited-financial-results-and-a-special-cash-dividend-302237845.html

    SOURCE Waterdrop Inc.

    Get the next $WDH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $WDH

    DatePrice TargetRatingAnalyst
    9/16/2022$2.00 → $2.10Equal-Weight → Overweight
    Morgan Stanley
    3/25/2022$5.00 → $2.00Overweight → Equal-Weight
    Morgan Stanley
    More analyst ratings

    $WDH
    Leadership Updates

    Live Leadership Updates

    See more
    • Waterdrop Q4 and FY2024 Financial Results: Annual Net profit rises 119.8% YoY, and declared a cash dividend

      BEIJING, March 12, 2025 /PRNewswire/ -- On March 12, 2025, Waterdrop Inc. (NYSE:WDH), a leading technology platform dedicated to insurance and healthcare services with a positive social impact, unveiled its unaudited financial results for the fourth quarter and Fiscal Year ended December 31, 2024. During the fourth quarter, Waterdrop reported net operating revenue of RMB 686.8 million. Net profit attributable to ordinary shareholders totaled RMB 99.6 million, up 68.5% from the same quarter of previous year, sustaining profitability for the twelfth consecutive quarter. Operating expenses, including sales and marketing expenses, general and administrative expenses, research and development ex

      3/12/25 7:18:00 AM ET
      $WDH
      Specialty Insurers
      Finance
    • Waterdrop Inc. Announces Appointment of New Independent Director

      BEIJING, March 12, 2025 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH) ("Waterdrop" or the "Company"), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced the appointment of Mr. Chen Lin as an independent director and a member of the audit committee of the Company's board of directors (the "Board"), replacing Mr. Ning Zhu, effective March 11, 2025. Mr. Ning Zhu has tendered his resignation as an independent director and a member of the audit committee of the Board due to personal reasons. The resignation of Mr. Zhu was not due to any dispute or disagreement with the Company. Mr. Chen Lin has served at various positions at Th

      3/12/25 6:17:54 AM ET
      $WDH
      Specialty Insurers
      Finance
    • Allink Biotherapeutics Raises $42M Series A Financing to Accelerate Global Development of Bispecific Antibody and ADC Pipeline

      The series A investment round secures resources for advancing global Phase I/II clinical programs and orchestrating the company's global footprint expansion. SHANGHAI, Nov. 28, 2024 /PRNewswire/ -- Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, today announced the successful completion of a $42 million Series A financing. The financing round was led by Lanchi Ventures, a preeminent global early-stage technology investor known for backing breakthrough innovations, with participation from an elite syndicate of new investors including Yuanbio Venture Capital, Legend Capital and C&D Eme

      11/28/24 8:06:00 AM ET
      $BZ
      $HUYA
      $LI
      $PDD
      Computer Software: Programming Data Processing
      Technology
      Auto Manufacturing
      Consumer Discretionary

    $WDH
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Waterdrop upgraded by Morgan Stanley with a new price target

      Morgan Stanley upgraded Waterdrop from Equal-Weight to Overweight and set a new price target of $2.10 from $2.00 previously

      9/16/22 7:36:47 AM ET
      $WDH
      Specialty Insurers
      Finance
    • Waterdrop downgraded by Morgan Stanley with a new price target

      Morgan Stanley downgraded Waterdrop from Overweight to Equal-Weight and set a new price target of $2.00 from $5.00 previously

      3/25/22 9:17:38 AM ET
      $WDH
      Specialty Insurers
      Finance

    $WDH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Waterdrop Inc. Releases 2024 Annual Report: AI-Enabled Efficiencies Drive Business Growth

      BEIJING, April 30, 2025 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE:WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced the filing of its annual report for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (SEC). For the year, the Company reported net revenue of RMB 2.772 billion and net profit attributable to shareholders of RMB 368 million, representing a 119.8% year-on-year increase. This achievement extends the company's streak of profitability to 12 consecutive quarters. As of the end of February 2025, Waterdrop had repurchased approximately 5

      4/30/25 3:35:00 AM ET
      $WDH
      Specialty Insurers
      Finance
    • WATERDROP FILES ANNUAL REPORT ON FORM 20-F FOR FISCAL YEAR 2024

      BEIJING, April 25, 2025 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE:WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission ("SEC") on April 25, 2025. The annual report can be accessed on the Company's investor relations website at https://ir.waterdrop-inc.com as well as the SEC's website at http://www.sec.gov.  The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its share

      4/25/25 6:52:00 AM ET
      $WDH
      Specialty Insurers
      Finance
    • Goldman Sachs Maintains 'Buy' Rating for Waterdrop with Price Target of US$1.80

      BEIJING, March 19, 2025 /PRNewswire/ -- Following the release of Waterdrop Inc.'s (WDH) fourth-quarter and full-year 2024 financial results, Goldman Sachs' latest research report maintains a "Buy" rating for Waterdrop and sets a 12-month price target of US$1.80 per ADS. According to Goldman Sachs' report, Waterdrop achieved a higher-than-expected net profit attributable to shareholders of 368 million yuan (approx. US$51 million) for the full year of 2024, representing a year-on-year increase of 119.8%. In the fourth quarter of 2024, the first-year premium (FYP) for the insurance business reached approximately 1.9 billion yuan (approx. US$263 million), up 24.5% year-on-year, primarily driven

      3/19/25 8:46:00 AM ET
      $WDH
      Specialty Insurers
      Finance

    $WDH
    SEC Filings

    See more
    • SEC Form 20-F filed by Waterdrop Inc.

      20-F - Waterdrop Inc. (0001823986) (Filer)

      4/25/25 6:06:03 AM ET
      $WDH
      Specialty Insurers
      Finance
    • SEC Form 6-K filed by Waterdrop Inc.

      6-K - Waterdrop Inc. (0001823986) (Filer)

      3/12/25 9:17:21 AM ET
      $WDH
      Specialty Insurers
      Finance
    • SEC Form 6-K filed by Waterdrop Inc.

      6-K - Waterdrop Inc. (0001823986) (Filer)

      12/11/24 8:31:29 AM ET
      $WDH
      Specialty Insurers
      Finance

    $WDH
    Financials

    Live finance-specific insights

    See more
    • Goldman Sachs Maintains 'Buy' Rating for Waterdrop with Price Target of US$1.80

      BEIJING, March 19, 2025 /PRNewswire/ -- Following the release of Waterdrop Inc.'s (WDH) fourth-quarter and full-year 2024 financial results, Goldman Sachs' latest research report maintains a "Buy" rating for Waterdrop and sets a 12-month price target of US$1.80 per ADS. According to Goldman Sachs' report, Waterdrop achieved a higher-than-expected net profit attributable to shareholders of 368 million yuan (approx. US$51 million) for the full year of 2024, representing a year-on-year increase of 119.8%. In the fourth quarter of 2024, the first-year premium (FYP) for the insurance business reached approximately 1.9 billion yuan (approx. US$263 million), up 24.5% year-on-year, primarily driven

      3/19/25 8:46:00 AM ET
      $WDH
      Specialty Insurers
      Finance
    • Waterdrop Inc. Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results and a Cash Dividend

      BEIJING, March 12, 2025 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE:WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced its unaudited financial results for the three and twelve months ended December 31, 2024 and a cash dividend. Financial and Operational Highlights for the Fourth Quarter of 2024 Marked improvement in profitability and healthy liquidity: In the fourth quarter of 2024, net profit attributable to our ordinary shareholders reached RMB99.6 million (US$13.6 million), representing a year-over-year growth of 68.7%. We continued to generate positive operating cash flow during t

      3/12/25 6:17:57 AM ET
      $WDH
      Specialty Insurers
      Finance
    • Waterdrop Inc. to Report Fourth Quarter and Fiscal Year 2024 Financial Results on March 12, 2025

      BEIJING, Feb. 26, 2025 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH) ("Waterdrop" or the "Company"), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024, before U.S. markets open on Wednesday, March 12, 2025. Waterdrop's management team will hold a conference call on March 12, 2025 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day) to discuss the financial results. Dial-in details for the earnings conference call are as follows: International: 1-412-317-6061 United States Toll Free: 1

      2/26/25 3:30:00 AM ET
      $WDH
      Specialty Insurers
      Finance

    $WDH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Waterdrop Inc. (Amendment)

      SC 13G/A - Waterdrop Inc. (0001823986) (Subject)

      2/13/24 6:10:20 AM ET
      $WDH
      Specialty Insurers
      Finance
    • SEC Form SC 13G/A filed by Waterdrop Inc. (Amendment)

      SC 13G/A - Waterdrop Inc. (0001823986) (Subject)

      2/9/24 4:15:26 PM ET
      $WDH
      Specialty Insurers
      Finance
    • SEC Form SC 13G/A filed by Waterdrop Inc. (Amendment)

      SC 13G/A - Waterdrop Inc. (0001823986) (Subject)

      2/9/24 6:02:43 AM ET
      $WDH
      Specialty Insurers
      Finance