Waterdrop Inc. Reports Strong Financial Growth in Q3 2025

Waterdrop Inc., listed on NYSE as WDH, has reported a significant financial performance for the third quarter of 2025. The company achieved a net operating revenue of RMB 974.9 million, marking an impressive 38.4% increase compared to the previous year. Net profit for the quarter climbed by 60.1% year-over-year, amounting to RMB 158.5 million. This marks Waterdrop's fifteenth consecutive quarter of profitability. The company's operating expenses decreased to 39.6% of revenue, down 8.3 percentage points from the previous year.

The insurance segment of Waterdrop recorded robust growth, with revenue reaching RMB 869.7 million, an increase of 44.8% year-over-year. The company's focus on AI innovation is reshaping its operations, evidenced by a substantial 82% quarter-over-quarter increase in premiums facilitated by their AI solutions. Meanwhile, Waterdrop's Medical Crowdfunding continues to thrive, raising RMB 71.2 billion for 3.61 million patients. Additionally, the E-Find Platform enrolled over 1,000 patients this quarter, expanding collaboration with pharmaceutical entities.