Waterdrop Q1 Revenue Surges 64.8% to RMB1.24B, Profit Up 5.3%
WDH•Waterdrop's Q1 net operating revenue rose 64.8% year-over-year to RMB1,242.2 million (US$180.1 million), driven by a 74.1% jump in insurance-related income to RMB1,145.8 million (US$166.1 million), while operating profit increased 5.3% to RMB80.0 million (US$11.6 million). The company repurchased 61.8 million ADSs for US$120.1 million, paying US$10.8 million in dividends.
1. Q1 Financial Results
Waterdrop's net operating revenue reached RMB1,242.2 million (US$180.1 million) in the three months ended March 31, 2026, marking a 64.8% year-over-year increase. Insurance-related income climbed 74.1% to RMB1,145.8 million (US$166.1 million), and operating profit rose 5.3% to RMB80.0 million (US$11.6 million).
2. Operational Highlights
By quarter end, the Medical Crowdfunding platform had attracted 494 million donors, raising RMB73.5 billion for 3.75 million patients, while the E-Find digital clinical trial service enrolled 15,512 patients into 1,718 programs and generated RMB24.2 million (US$3.5 million), up 5.4% year-over-year. AI deployments—including KEYI.AI and Claw Copilot—processed over 10,000 inquiries and boosted first-year premium generation by 17.7% quarter-over-quarter.
3. Shareholder Returns and Strategic Outlook
As of May 31, 2026, Waterdrop repurchased 61.8 million ADSs for US$120.1 million and paid US$10.8 million in dividends. Looking ahead, the company plans to broaden AI integration in underwriting and risk screening, enhance product offerings such as the 'Shouhu Ruchu' cancer plan, and expand its digital clinical trial capabilities.
