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

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."

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