Waterdrop, Inc. ADR Class A ( (WDH) ) has released its Q3 earnings. Here is a breakdown of the information Waterdrop, Inc. ADR Class A presented to its investors.
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Waterdrop Inc., a leading technology platform, focuses on insurance and healthcare services with a mission to create positive social impact. The company recently announced its unaudited financial results for the third quarter of 2024, showcasing substantial growth and progress across various segments.
In the third quarter of 2024, Waterdrop reported a notable 152.6% year-over-year increase in net profit attributable to ordinary shareholders, reaching RMB92.8 million. The company’s insurance business demonstrated strong performance with a 20.4% increase in first-year premiums, achieving a net operating revenue of RMB704.1 million. Waterdrop also expanded its crowdfunding coverage, aiding over 3.32 million patients with donations totaling RMB66.3 billion.
Waterdrop’s digital clinical trial solutions experienced a 17.4% quarter-over-quarter growth, with collaborations involving 184 pharmaceutical companies and 909 patient enrollments in new programs. Additionally, the company made advancements in AI technology, launching various AI-driven platforms to enhance service quality and sales efficiency.
Despite these achievements, the company faced challenges with a year-over-year decrease in insurance-related income and digital clinical trial solution revenue. However, Waterdrop successfully reduced operating costs and expenses by 1.6% year-over-year, enhancing profitability.
Looking ahead, Waterdrop’s management remains optimistic about sustaining growth and delivering shareholder value through strategic initiatives and innovative solutions, leveraging its strong market position and ample cash reserves.
