Waterdrop Inc. Earnings Recaps
Q2 2026
Sep 10, 2026
Waterdrop’s shares were flat after earnings, signaling a broadly balanced result. Revenue grew 72.8% year over year and profitability continued, although the company’s full-year targets imply a slower pace than the second-quarter top-line growth.
Key takeaways
- Second-quarter revenue was ¥1.45 billion, up 72.8% year over year; net profit attributable to ordinary shareholders was ¥130 million, marking the 10th consecutive profitable quarter.
- Insurance-related income increased 80.5% year over year to ¥1.33 billion, while insurance operating profit rose 20% sequentially to ¥180 million.
- Insurance customer acquisition rose 32.3% sequentially, and first-year premiums from long-term insurance increased 33.4% sequentially.
- Digital claims and trial solutions enrolled more than 1,500 patients during the quarter, up 54% year over year, with cumulative patients served exceeding 17,000.
- Management targets more than 40% full-year 2026 revenue growth and over 10% operating-profit growth; the board also approved a $0.03-per-ADS dividend and a share-repurchase program of up to $50 million over 12 months.
Q2 2025
Sep 4, 2025
Waterdrop demonstrated strong performance in Q2 2025, with revenue growing 23.9% year-over-year and an exceptional 85.9% increase in operating profit, driven by AI integration across its insurance and healthcare sectors.
Key takeaways
- Quarterly revenue reached a record, driven by enhanced operational efficiency through AI, lifting operating margins by 3.9 percentage points.
- First-year premiums (FYP) surged 80.2% year-over-year, demonstrating the effectiveness of AI in customer acquisition and underwriting processes.
- The Board approved a significant 50% increase in cash dividends, reflecting strong financial health and a commitment to returning value to shareholders.
- The company's Waterdrop Guardian AI app suite has streamlined several key operations, contributing to improved productivity per capita.
- Social responsibility efforts continue, with over 15,500 public welfare projects initiated and a significant impact in relief efforts for communities in need.