PR Newswire·Mar 25, 2026, 8:22 AM ET

Waterdrop Q4 and FY2025 Financial Results: Q4 operating revenue rises 105.5% YoY, and declared a cash dividend

WDH

Waterdrop Inc. reported Q4 2025 net operating revenue of RMB 1,411.2 million, a 105.5% year-over-year increase, with net profit attributable to ordinary shareholders of RMB 162.1 million, a 62.7% year-over-year rise sustaining profitability for 16 consecutive quarters.
Full-year 2025 net operating revenue grew 43.5% to RMB 3,977.8 million, primarily driven by insurance-related income, while net profit attributable to ordinary shareholders reached RMB 568.9 million compared to RMB 367.5 million in 2024.
The company's insurance business generated RMB 644.9 million in annual operating profit for 2025, with insurance-related revenue rising 51.3% year-over-year to RMB 3,576.6 million.
Waterdrop expanded AI integration, resulting in a 145% quarter-over-quarter increase in premiums facilitated by the "AI Medical Insurance Expert" \& the "AI Customer Service Agent" handling over 1.4 million inquiries in one month.
The company cumulatively repurchased approximately 60.7 million ADSs by the end of February 2026 \& plans to initiate a new cash dividend of approximately US$10.8 million.
As of December 31, 2025, Waterdrop held RMB 3,249.0 million (US$464.6 million) in cash.
Waterdrop Medical Crowdfunding facilitated RMB 72.3 billion in donations to 3.68 million patients, supported by upgraded risk control systems using automated data masking \& a Medical Knowledge Graph for receipt verification.
The E-Find Platform enrolled 14,555 patients into 1,611 clinical trial programs by year-end 2025, generating RMB 118.3 million in annual revenue, a 29.9% year-over-year increase.
Waterdrop secured a national invention patent for China's first intelligent drug-patient matching technology \& collaborated with 224 pharmaceutical companies \& contract research organizations during the quarter.