Waterdrop Inc. (WDH) Earnings Call Transcripts

Waterdrop Inc.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, Waterdrop Inc. reported total revenue of RMB 1.24 billion, reflecting a robust year-over-year growth of 64.8%. The net profit attributable to ordinary shareholders was approximately RMB 98 million, down 9.1% year-over-year. Management maintained a positive outlook, targeting approximately 40% top-line growth for the fiscal year, indicating confidence in their user acquisition strategy and AI investments.

Reported metrics

Guidance from management

Management is targeting approximately 40% top-line growth for 2026, indicating confidence in user acquisition and marketing investments. They expect operating profit to remain broadly stable despite increased expenses.

What analysts pressed on

Analysts expressed concerns regarding the decline in net profit despite strong revenue growth, questioning the sustainability of profitability amid rising marketing costs. There were also inquiries about the effectiveness of the AI initiatives in driving future revenue.

Main topics on the call

• Strong Revenue Growth — Waterdrop achieved total revenue of RMB 1.24 billion, up 64.8% year-over-year, driven primarily by a 74.1% increase in insurance-related income. CEO Peng Shen stated, "we continued our last year's growth momentum".
• Profitability Trends — Despite strong revenue growth, net profit attributable to ordinary shareholders decreased by 9.1% year-over-year to RMB 98 million. This decline was attributed to net operating items affecting profitability.
• Insurance Business Performance — The insurance segment reported income of RMB 1.15 billion, up 74.1% year-over-year, with an operating profit of RMB 150 million and an operating margin of 13.3%. Management noted, "we sharpened our focus on user experien...
• AI and Technology Initiatives — Waterdrop is accelerating its shift towards AI, having filed 75 LLM-related patent applications. The technology is expected to enhance service quality and efficiency in insurance operations, as noted by management's focu...

Read the full Waterdrop Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 17 Waterdrop Inc. earnings call transcripts on record, spanning June 17, 2021 to June 16, 2026. Based on this history, Waterdrop Inc. reports quarterly. The most recent call on file is dated June 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WDH

Exchange

NYSE

Country

US

Sector

Financials

Industry

Insurance

Calls on record

17

First call

June 17, 2021

Most recent

June 16, 2026

Reporting cadence

quarterly