The following is a summary of the Waterdrop Inc. (WDH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Waterdrop Inc. reported a total Q1 revenue of RMB 705 million, a 16.3% year-over-year increase.

• GAAP net profit for Q1 was RMB 80.6 million, marking a significant increase of 62.2% year-over-year.

• Insurance-related income contributed RMB 607 million to the revenue.

• Operating costs and expenses totaled RMB 658 million, up 10.5% year-over-year.

Business Progress:

• Waterdrop Inc. has sustained profitability for nine consecutive quarters since Q1 2022.

• The company paid its first special cash dividend since listing and repurchased 45.5 million ADS for a total consideration of about $95.9 million.

• Focused on strengthening its business value across insurance, Medical Crowdfunding, and health care sectors.

• Waterdrop Inc. is continuously developing and launching new insurance products and enhancing its platform capabilities, including a successful recruitment of over 800 patients for clinical trials in Q1.

Opportunities:

• Increased emphasis on AIGC investment to drive business efficiency.

• Strategic partnerships and M&A targets exploration around insurance and health care sectors to strengthen market position and offerings.

Risks:

• No explicit risks mentioned.

More details: Waterdrop IR

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