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Waterdrop Inc. Announces Third Quarter 2024 Unaudited Financial Results, Net profit rises 152.6% year-on-year
Prnewswire· 2024-12-12 07:50
Financial Performance - Net operating revenue for Q3 2024 was RMB 704.1 million, with net profit attributable to ordinary shareholders reaching RMB 92.8 million, a 152.6% increase year-over-year [1] - Operating expenses accounted for 47.9% of revenue, a decrease of 6.9 percentage points year-over-year [1] - The company sustained profitability for the eleventh consecutive quarter [1] Insurance Business - Insurance-related revenue in Q3 2024 was RMB 600.7 million, with operating profit reaching RMB 123 million [3] - First-year premiums (FYPs) generated by the insurance business amounted to RMB 2,041.8 million, a 20.4% increase year-over-year [3] - The company established the "Three Good Services Alliance" with 14 insurance companies and launched "Public Review Panels" to enhance user-centric insurance services [4] AI and Technology Innovations - AI Consultant, powered by the "Waterdrop Guardian" large language model, generated million yuan in monthly premiums by serving user inquiries [5] - The company deployed "AI Service Quality Agent" to streamline service quality inspection processes, replacing manual work [5] - A conversational AI platform was developed to customize AI sales agents for businesses, with pilots initiated in insurance and non-insurance sectors [5] Medical Crowdfunding - Waterdrop Medical Crowdfunding raised RMB 66.3 billion for 3.32 million patients, with 466 million people cumulatively donating as of September 30, 2024 [6] - The platform recorded an operating loss of approximately RMB 17.9 million, though losses have narrowed compared to previous periods [6] Digital Clinical Trials - Waterdrop's Digital Clinical Trial Solution generated revenues of approximately RMB 24.3 million in Q3 2024 [7] - The E-Find Platform cumulatively enrolled over 9,500 patients into 1,137 clinical trial programs as of September 30, 2024 [7] Strategic Vision - The company remains user-centric and explores innovations powered by Large Language Models to boost business growth [8] - Waterdrop aims to build core capabilities and drive high-quality business growth by leveraging advanced technologies, adhering to its mission of bringing insurance and healthcare services to billions through technology [8]
Waterdrop(WDH) - 2024 Q3 - Earnings Call Transcript
2024-12-11 17:15
Financial Data and Key Metrics - Total revenue for Q3 2024 reached RMB704 million, with a year-over-year increase of over 150% in net profit attributable to ordinary shareholders, amounting to RMB92.8 million [4] - For the first nine months of 2024, total revenue was RMB2.08 billion, up 5.8% year-on-year, with net profit attributable to ordinary shareholders at RMB260 million, a 142% increase compared to the previous year [5] - The company has achieved profitability for 11 consecutive quarters since Q1 2022 [5] Business Line Performance - Insurance Business: First year premiums totaled over RMB2 billion, with an operating profit margin above 20% [6] - Medical Crowdfunding: User numbers and crowdfunding amounts continued to rise, with segment losses further narrowed [7] - Healthcare Sector: The number of enrolled patients grew both year-on-year and quarter-over-quarter [8] - AI Development: Launched AI Top Sales Platform 3.0, which has expanded partnerships with insurers and initiated pilots in non-insurance sectors like e-commerce and education [9][10][11] Market Performance - Insurance Business: Generated RMB2.04 billion in FYP, with a 20.4% year-over-year increase and a 14.8% quarter-over-quarter increase [18] - Short-term insurance FYP hit RMB1.37 billion, up 30.3% year-over-year and 9.9% quarter-over-quarter [18] - Long-term insurance FYP reached RMB670 million, a year-on-year increase of 4.3% and a quarter-on-quarter increase of 26.4% [23] Company Strategy and Industry Competition - The company is leveraging AI technology to enhance service quality and efficiency, with AI Top Sales 3.0 platform reaching a new milestone in commercialization [11][12] - Waterdrop is investing in R&D to build its next core competitive advantage around AI applications [12] - The company has established collaboration intentions with 10 clients across various industries, with eight already in the testing phase [12] Management Commentary on Operating Environment and Future Outlook - The company remains committed to healthy operations and sustainable growth, focusing on long-term, high-quality growth centered around user needs [15] - AI capabilities and first-mover advantages in large language models position the company for greater opportunities and growth in the future [15] Other Important Information - The company has cumulatively repurchased approximately 50.9 million ADS from the open market, totaling around US$102 million, and completed a second special cash dividend of approximately US$7.3 million [13] - Waterdrop Charity platform has partnered with 115 public charitable organizations and launched over 15,000 charity projects [14] - The company received several strategic awards, including the China ESG Connected Pioneer Award and China ESG Excellence Award [14] Q&A Session - No specific questions or answers were provided in the content [50]
水滴公司20241211
21世纪新健康研究院· 2024-12-11 16:05
Good morning, ladies and gentlemen, and thank you for standing by for Water Dropping Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, there will be a question and answer session. As a reminder, today's conference call is being recorded. I would now like to turn the meeting over to Ms. Jasmine Lee. Please proceed, Ms. Lee. Thank you. Please note that the discussion today will contain forward-looking statements made ...
Waterdrop Inc. Announces Third Quarter 2024 Unaudited Financial Results
Prnewswire· 2024-12-11 10:20
Financial Performance - Net profit attributable to ordinary shareholders reached RMB92.8 million in Q3 2024, a year-over-year growth of 152.6% [2] - Net operating revenue increased by 2.6% year-over-year to RMB704.1 million in Q3 2024 [2] - Adjusted net profit attributable to ordinary shareholders (non-GAAP) was RMB126.0 million in Q3 2024, up from RMB74.3 million in the same period of 2023 [6] Insurance Business - First-year premiums (FYP) generated through the insurance business amounted to RMB2,041.8 million in Q3 2024, representing a 20.4% year-over-year increase [2] - Insurance-related income was RMB600.7 million in Q3 2024, a 3.0% year-over-year decrease, mainly due to a decline in technical service income [4] - The insurance business maintained an operating profit margin above 20% in Q3 2024 [2] Crowdfunding and Digital Clinical Trials - Cumulative donations through Waterdrop Medical Crowdfunding reached RMB66.3 billion, benefiting 3.32 million patients as of September 30, 2024 [2] - Crowdfunding service fees increased by 83.0% year-over-year to RMB65.8 million in Q3 2024 [4] - Digital clinical trial solution income grew by 17.4% quarter-over-quarter to RMB24.3 million in Q3 2024 [3] AI and Technology Initiatives - The 'AI Consultant' conversational AI agent generated million yuan in monthly premiums by serving user inquiries [3] - The 'AI Service Quality Agent' was deployed to streamline service quality inspections, replacing manual work [3] - The 'AI Top Sales Platform 3.0' was launched, customizing AI sales agents for businesses, with pilots initiated in insurance and non-insurance sectors [3] Operational Highlights - The company enrolled over 9,500 patients into 1,137 clinical trial programs through the E-Find Platform as of September 30, 2024 [2] - Collaborated with 184 pharmaceutical companies and contract research organizations (CROs) in Q3 2024 [3] - Cumulative repurchase of approximately 50.9 million ADSs from the open market by the end of November 2024 [3] Regulatory and Industry Developments - The 'Measures for Administration of Online Service Platforms for Individuals Seeking Financial Help' was issued on September 5, 2024, providing a legal framework for the fundraising sector [3] - The company's digital clinical trial solution income continued to grow, reflecting the industry's increasing reliance on technology for patient recruitment [3]
Waterdrop Inc. to Report Third Quarter 2024 Financial Results on December 11, 2024
Prnewswire· 2024-11-27 10:00
BEIJING, Nov. 27, 2024 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH) ("Waterdrop" or the "Company"), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2024, before U.S. markets open on Wednesday, December 11, 2024.Waterdrop's management team will hold a conference call on December 11, 2024 at 7:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong T ...
Waterdrop: Very Undervalued AI-Driven Marketplace For Insurance Products
Seeking Alpha· 2024-09-10 12:09
Solskin/DigitalVision via Getty Images Waterdrop Inc. (NYSE:WDH) appears to be delivering FCF growth, thanks to AI-driven customer experience, proprietary CRM, and technical connection with large insurance carriers. In my opinion, in combination with the contributions to clinical trials offered by WDH and the medical crowdfunding business model, WDH will most likely bring future net sales growth. I see some risks from the fact that the company does not operate in the United States and potential failed m ...
Waterdrop(WDH) - 2024 Q2 - Earnings Call Transcript
2024-09-04 22:15
Waterdrop Inc. (NYSE:WDH) Q2 2024 Earnings Conference Call September 4, 2024 8:00 AM ET Company Participants Tracy Lisang - IR Peng Shen - Founder, Chairman and CEO Ran Wei - Director and GM of Insurance Business Xu Xiaoying - Head of Finance Department Jasmine Li - Board Secretary Tracy Lisang Good morning, everyone. This is Tracy Lisang with Waterdrop Investor Relations. It's my pleasure to welcome everyone to Waterdrop's Second Quarter 2024 Earnings Conference Call. All participants are in a listen-only ...
Waterdrop Inc. Announces Second Quarter 2024 Unaudited Financial Results and a Special Cash Dividend, Net profit rises 306.9% year-on-year
Prnewswire· 2024-09-04 11:21
BEIJING, Sept. 4, 2024 /PRNewswire/ -- On September 4, 2024, Waterdrop Inc. (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare services with a positive social impact, unveiled its unaudited financial results for the second quarter of 2024 ended June 30, 2024. During the quarter, Waterdrop reported net operating revenue of RMB 676 million. Net profit attributable to ordinary shareholders totaled RMB 88.3 million, up 306.9% from the previous year, sustaining profitability for the ...
Waterdrop Inc. Announces Second Quarter 2024 Unaudited Financial Results and a Special Cash Dividend
Prnewswire· 2024-09-04 10:18
BEIJING, Sept. 4, 2024 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced its unaudited financial results for the three and six months ended June 30, 2024 and a special cash dividend.Financial and Operational Highlights for the Second Quarter of 2024Substantial growth in profit and positive operating cash flow: In the second quarter of 2024, net profit attr ...
Waterdrop Inc. to Report Second Quarter 2024 Financial Results on September 4, 2024
Prnewswire· 2024-08-21 11:45
BEIJING, Aug. 21, 2024 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH) ("Waterdrop" or the "Company"), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2024, before U.S. markets open on Wednesday, September 4, 2024.Waterdrop's management team will hold a conference call on September 4, 2024 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time ...