Waterdrop Inc
NYSE:WDH
Waterdrop Inc
Waterdrop, Inc. engages in online insurance brokerage services to match and connect users with relevant insurance products underwritten by insurance companies. The company is headquartered in Beijing, Beijing. The company went IPO on 2021-05-07. The firm is mainly engaged in operating an independent third-party insurance platform dedicated to providing insurance and healthcare service. The Company’s main businesses are the insurance marketplace, medical crowdfunding, and mutual aid. The insurance marketplace business is collaborated with insurance carriers to offer health and life insurance products to ensure a smooth and friendly user experience throughout the process from underwriting to claim services. The medical crowdfunding business is enabled people with significant medical costs need to seek help from caring hearts through technology. Patients or their relatives or friends can initiate crowdfunding campaigns on the platform and share campaign information through social networks. Mutual aid business operates the Waterdrop Mutual Aid platform enabled participants to help one another to ease their medical cost burden.
Waterdrop, Inc. engages in online insurance brokerage services to match and connect users with relevant insurance products underwritten by insurance companies. The company is headquartered in Beijing, Beijing. The company went IPO on 2021-05-07. The firm is mainly engaged in operating an independent third-party insurance platform dedicated to providing insurance and healthcare service. The Company’s main businesses are the insurance marketplace, medical crowdfunding, and mutual aid. The insurance marketplace business is collaborated with insurance carriers to offer health and life insurance products to ensure a smooth and friendly user experience throughout the process from underwriting to claim services. The medical crowdfunding business is enabled people with significant medical costs need to seek help from caring hearts through technology. Patients or their relatives or friends can initiate crowdfunding campaigns on the platform and share campaign information through social networks. Mutual aid business operates the Waterdrop Mutual Aid platform enabled participants to help one another to ease their medical cost burden.
Revenue Growth: Waterdrop's Q3 2025 revenue reached RMB 975 million, up 38.4% year-on-year, with insurance business revenue up 44.8%.
Profit Surge: Net profit attributable to shareholders was RMB 158 million, increasing 60.1% year-on-year, driven by AI efficiency gains and disciplined cost control.
AI Investments: The company expanded AI integration, launched new AI products and platforms, and filed 69 patents, contributing to improved operational efficiency and service capabilities.
Insurance Segment: Insurance-related revenue was RMB 870 million, and operating profit margin was 20.3%, supported by new product launches and AI-driven customer engagement.
Cash Returns: Waterdrop completed its fourth dividend payout since IPO and repurchased about 58.1 million ADS for $113 million by end of November 2025.
Guidance Exceeded: Management expressed confidence in exceeding full-year revenue and profit guidance.
