Waterdrop Inc. Reports First Quarter 2026 Unaudited Financial Results, Q1 Net Revenue Up 64.8% Year-over-Year

Rhea-AI Summary

Waterdrop (NYSE: WDH) reported unaudited Q1 2026 net operating revenue of RMB1,242.2 million, up 64.8% year-over-year, and net profit attributable to ordinary shareholders of RMB98.4 million, its 17th consecutive profitable quarter.

Insurance-related income rose 74.1% year-over-year, AI tools supported premium growth, E-Find clinical trial solutions revenue reached RMB24.2 million, and cumulative share repurchases totaled about 61.8 million ADSs.

Positive

• Q1 2026 net operating revenue RMB1,242.2 million, up 64.8% year-over-year
• Net profit attributable to shareholders RMB98.4 million; 17th straight profitable quarter
• Approximately 61.8 million ADSs cumulatively repurchased as of May 31, 2026
• Insurance-related income up 74.1% year-over-year in Q1 2026
• E-Find clinical trial solutions revenue RMB24.2 million, up 5.4% year-over-year

Negative

• None.

News Market Reaction – WDH

-8.57% 2.1x vol

8 alerts

-8.57% Session close to close

-13.0% Trough in 5 hr 3 min

$506.33M Market Cap

2.1x Rel. Volume

In the Jun 16 session, WDH declined 8.57%, reflecting a notable negative market reaction. Argus tracked a trough of -13.0% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. Trading volume was elevated at 2.1x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -8.6% in the session following this news. A negative reaction despite strong fundame...

Analysis

The stock moved -8.6% in the session following this news. A negative reaction despite strong fundamentals would fit prior patterns where earnings updates sometimes saw selling pressure even on growth. Q1 2026 delivered net operating revenue of RMB1,242.2M and net profit of RMB98.4M, yet past earnings headlines averaged a -0.74% move. Such declines could reflect concerns about sustainability, macro risks, or valuation rather than the reported quarter itself.

Key Figures

Q1 2026 net operating revenue: RMB1,242.2M Q1 2026 net profit: RMB98.4M ADS repurchases: 61.8M ADSs +5 more

8 metrics

Q1 2026 net operating revenue RMB1,242.2M First quarter 2026, up 64.8% year-over-year

Q1 2026 net profit RMB98.4M Attributable to ordinary shareholders, 17th profitable quarter

ADS repurchases 61.8M ADSs Cumulative repurchases from open market as of May 31, 2026

Insurance-related income growth 74.1% YoY Insurance business income in Q1 2026

AI Insurance Expert FYP growth 17.7% QoQ First-year premiums facilitated in Q1 2026

Medical crowdfunding donations RMB73.5B Total raised for 3.75M patients since 2016

Medical crowdfunding users 494M users Total donors since launch in 2016

E-Find Q1 revenue RMB24.2M Digital clinical trial solutions, up 5.4% year-over-year

Previous Earnings Reports

5 past events · Latest: Dec 03 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Dec 03	Q3 2025 earnings	Positive	+1.1%	Strong Q3 revenue and profit growth with lower expense ratio and buybacks.
Dec 03	Q3 2025 earnings	Positive	+1.1%	Detailed unaudited Q3 2025 results, higher operating and net profit, strong cash.
Jun 05	Q1 2025 earnings	Positive	-3.3%	Q1 2025 revenue and profit growth with expanding insurance and AI initiatives.
Jun 05	Q1 2025 earnings	Positive	-3.3%	Strong Q1 2025 earnings, AI expansion, and broad platform metrics update.
Apr 25	2024 annual report	Neutral	+0.8%	Routine filing of 2024 Form 20-F with audited financials and disclosures.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings-related headlines have produced mixed reactions, with an average move of -0.74%; strong fundamental updates have not always translated into positive next-day performance.

Recent Company History

Recent history shows Waterdrop repeatedly reporting strong growth and consistent profitability, plus ongoing ADS buybacks and dividends. Q1 and Q3 2025 earnings featured rising revenue and net profit, yet shares sometimes slipped afterward. Annual 20-F filings and dividend news had modest positive or neutral impacts. Today’s Q1 2026 release, with faster top-line growth and continued profitability, extends this pattern of solid fundamentals against historically muted price reactions.

Key Terms

american depositary shares, ads, clinical trial programs, cros, +1 more

5 terms

american depositary shares financial

"As of May 31, 2026, Waterdrop had cumulatively repurchased approximately 61.8 million American Depositary Shares (ADSs)"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

ads financial

"approximately 61.8 million American Depositary Shares (ADSs) from the open market"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

clinical trial programs medical

"had cumulatively enrolled 15,512 patients into 1,718 clinical trial programs"

A clinical trial program is a coordinated set of medical studies that test whether a new drug, device or treatment is safe and works in people, usually moving through staged steps from small safety tests to larger effectiveness trials. Investors care because each stage changes the likelihood a product will reach the market — like milestones on a road trip that determine whether you’ll reach your destination and how valuable the journey becomes.

cros medical

"established partnerships with 243 domestic and international pharmaceutical companies and CROs"

Contract research organizations (CROs) are independent firms hired by drug and medical-device companies to run research tasks such as clinical trials, patient recruitment, lab testing, data management, and regulatory filings. For investors they matter because CROs act like contractors turning a sponsor’s plans into finished work—so their capacity, timelines, costs and quality directly affect how quickly and cheaply a drug or device can move toward approval and revenue.

large language model technical

"continues to advance the application of large language model technologies in doctor-patient service"

A large language model is a computer system trained on vast amounts of text to understand and generate human-like writing, like a very well-read virtual assistant that can summarize, draft, translate, or answer questions. Investors care because it can change how businesses operate and compete—boosting productivity, cutting costs, or enabling new products—while also creating risks around accuracy, regulation, and security that can affect revenue and valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BEIJING, June 16, 2026 /PRNewswire/ -- On June 16, 2026, Waterdrop Inc. (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare services with positive social impact, today announced its unaudited financial results for the first quarter ended March 31, 2026.

In the first quarter of 2026, Waterdrop achieved net operating revenue of RMB1,242.2 million, representing a 64.8% year-over-year increase. Net profit attributable to the Company's ordinary shareholders was RMB98.4 million, marking the Company's 17th consecutive quarter of profitability. As of May 31, 2026, Waterdrop had cumulatively repurchased approximately 61.8 million American Depositary Shares (ADSs) from the open market.

2026 marks Waterdrop's tenth anniversary. With solid first-quarter results, the Company has laid a strong foundation for the next decade. Waterdrop remains committed to advancing AI-powered technology innovation to make healthcare and financial services more accessible to the general public.

Insurance Business Steady Growth with Deepening AI Integration

In the first quarter, Waterdrop's insurance-related income continued its strong growth trajectory, up 74.1% year-over-year. The Company is accelerating the deployment of AI technologies across the entire insurance value chain. This quarter, first-year premiums facilitated by the user-facing "AI Insurance Expert" increased by 17.7% quarter-over-quarter. KEYI.AI underwriting assistant has processed more than 10,000 inquiries to date.

On the product supply side, Waterdrop continues to drive innovation, leveraging AI and big data to support product development, enabling individuals with pre-existing medical conditions to access coverage. Premiums for pre-existing condition insurance increased 24.3% year over year. For example, the "Shouhu Ruchu" launched this quarter distinguishes itself through three core advantages — comprehensive protection, lenient underwriting, and exceptional value — lowering the barrier to high-quality cancer coverage so that every family can afford a million-yuan lifetime cancer protection plan.

On the service front, Waterdrop has been deepening its "full lifecycle service" initiative, offering members over 30 exclusive benefits on an ongoing basis, including health screenings and expedited access to medical care.

Waterdrop Medical Crowdfunding: 494 Million Users Have Donated RMB73.5 Billion to 3.75 Million Patients

Waterdrop Medical Crowdfunding continues to fulfill its mission of providing urgent assistance. Since its launch in 2016, approximately 494 million users have donated a total of RMB73.5 billion to help 3.75 million patients. Waterdrop Medical Crowdfunding remains committed to the philosophy of "Technology for Good," deploying AI to build a dual protection system ensuring case authenticity verification and transparent fund flows. The Company has strengthened its risk control mechanisms to enhance identification and enforcement against malicious actors, while improving the donor feedback system to ensure full traceability and transparent use of donated funds.

For families facing serious illness, the first three days after launching a fundraiser are critical. To address this, Waterdrop introduced an AI fundraising assistant that can be activated anytime to provide timely guidance based on user needs. Since its launch, the AI assistant has served 82,076 fundraisers nationwide.

E-Find Platform: Q1 Revenue RMB24.2 Million, Partners with 243 Pharma Companies and CROs

Waterdrop's digital clinical trial solutions business delivered steady growth. The first quarter net operating revenue reached RMB24.2 million, up 5.4% year-over-year. This quarter, the E-Find Platform established partnerships with 243 domestic and international pharmaceutical companies and CROs. As of March 31, 2026, the E-Find Platform had cumulatively enrolled 15,512 patients into 1,718 clinical trial programs.

In digital omni-channel marketing, the E-Find Platform continues to advance the application of large language model technologies in doctor-patient service scenarios, launching multiple projects related to health management, health education, and digital human applications. Additionally, Waterdrop maintains deepening partnerships with leading multinational pharmaceutical companies, with cumulative patients served continuing to grow and service efficiency and user experience significantly improved.

On social responsibility, this quarter Waterdrop partnered with the Jinyun County Medical Insurance Bureau for another year to enhance the multi-tiered healthcare security system and safeguard vulnerable populations. As of May 27, 2026, the "Jin Qing Bang" program has achieved full coverage of medical treatment for the entire population of Jinyun residents, automatically screening over 11.2 million person-times, identifying over 21,000 individuals with high out-of-pocket medical expenses, and assisting 764 people with total aid of RMB16.99 million, of which RMB14.79 million was raised through Waterdrop Medical Crowdfunding.

Mr. Peng Shen, Founder and Chief Executive Officer of Waterdrop, commented: "We opened the year with a solid first-quarter result, underpinned by rapid top-line growth. As we look to the future, we remain dedicated to the enduring purpose that has shaped our journey since day one. In 2026, we aim to move faster toward becoming an AI-native company to strengthen execution and support durable value for our users and shareholders."

View original content:https://www.prnewswire.com/news-releases/waterdrop-inc-reports-first-quarter-2026-unaudited-financial-results-q1-net-revenue-up-64-8-year-over-year-302801643.html

SOURCE Waterdrop Inc.

FAQ

What were Waterdrop (NYSE: WDH) Q1 2026 financial results?

Waterdrop reported Q1 2026 net operating revenue of RMB1,242.2 million and net profit of RMB98.4 million. According to Waterdrop, revenue grew 64.8% year-over-year and the company achieved its 17th consecutive quarter of profitability, highlighting sustained earnings over multiple years.

How fast did Waterdrop WDH insurance-related income grow in Q1 2026?

Waterdrop’s insurance-related income increased 74.1% year-over-year in Q1 2026. According to Waterdrop, AI deployment across the insurance value chain supported growth, with first-year premiums via the “AI Insurance Expert” up 17.7% quarter-over-quarter and pre-existing condition insurance premiums rising 24.3% year-over-year.

How many ADSs has Waterdrop (WDH) repurchased as of May 31, 2026?

Waterdrop had cumulatively repurchased about 61.8 million American Depositary Shares from the open market by May 31, 2026. According to Waterdrop, these buybacks reduced the ADS float, which can influence per-share metrics and signal capital allocation priorities to shareholders.

How did Waterdrop’s E-Find clinical trial platform perform in Q1 2026?

Waterdrop’s E-Find digital clinical trial solutions generated Q1 2026 net operating revenue of RMB24.2 million, up 5.4% year-over-year. According to Waterdrop, E-Find partnered with 243 pharmaceutical companies and CROs and had enrolled 15,512 patients into 1,718 clinical trial programs by March 31, 2026.

What impact has Waterdrop Medical Crowdfunding had since 2016?

Since 2016, Waterdrop Medical Crowdfunding has facilitated RMB73.5 billion in donations from about 494 million users to help 3.75 million patients. According to Waterdrop, AI-based risk control, authenticity checks, and transparent fund-flow tracking support this large-scale medical fundraising activity.

How is Waterdrop using AI to support growth in 2026?

Waterdrop is applying AI in insurance underwriting, sales and medical crowdfunding support. According to Waterdrop, tools like the “AI Insurance Expert,” KEYI.AI underwriting assistant and an AI fundraising assistant have driven premium growth, processed over 10,000 underwriting inquiries and supported 82,076 fundraisers.