Waterdrop (717) Q2 2026 Earnings Report
DE:717 Q2 2026 EPS Results
- Actual EPS
- EUR 0.00
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- EUR 0.01
DE:717 Q2 2026 Revenue Results
- Actual Revenue
- EUR 190.50M
- Expected Revenue
- EUR 1.30B
- Beat/Miss
- Missed by -EUR 1.11B
- YoY Revenue Growth
- +83.65%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 09/08/2026
- Time
- Before Open
- Conference Call
- Tuesday, September 8, 2026
DE:717 Upcoming Earnings
Waterdrop's next earnings date is estimated for December 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:717 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive, marked by 72.8% revenue growth, 80.5% insurance revenue growth, higher operating profit, sustained profitability, strong clinical-trial enrollment, expanding AI-driven contributions, ample cash reserves, and new shareholder-return programs. Offsetting factors included a 10.3% year-over-year decline in net profit, significant increases in operating and marketing expenses, higher R&D and credit-loss costs, and the limited current financial contribution from new global AI initiatives.
Company Guidance
For full year of 2026, Waterdrop targets more than 40% year over year growth in total revenue and over 10% of growth in operating profit; for the second half of 26 and the full year of 27, it expects to maintain an active user acquisition pace, while user value from the current period acquisition will be gradually realized through renewals and up cells and cross-sells over the sequential user life cycle. As AI usage scales, spend will grow naturally, but the company expects to keep the overall R&D ratio to a reasonable range, and its portable AI office assistant remains in the early stage with financial impact limited for now.
- Strong Revenue Growth and Sustained ProfitabilitySecond-quarter net operating revenue reached RMB1.448 billion, up 72.8% year over year. Net profit attributable to ordinary shareholders was approximately RMB126 million, and the company maintained profitability for 10 consecutive quarters.
- Insurance Business Continued Rapid ExpansionInsurance-related revenue reached RMB1.333 billion, up 80.5% year over year and 15.4% quarter over quarter. Operating profit was RMB180 million, up 20% from the previous quarter.
- Insurance Customer Acquisition and Premium GrowthNewly acquired insurance customers increased 32.3% sequentially, while first-year premiums for long-term insurance grew 33.4% sequentially, driven by demand for endowment insurance.
- Expanded Coverage for Customers with Preexisting ConditionsWaterdrop launched Gongyibao, described as the market's first long-term critical illness insurance product with no health disclosure and a five-year renewal guarantee. Its Tiejiaobang product matrix now includes specified-disease insurance offering lifetime coverage with no health disclosure. Products serving users with preexisting conditions contributed RMB310 million in first-year premiums, while disability insurance added RMB84 million.
- AI Applications Generated Insurance PremiumsAI applications across user-facing interactions generated nearly RMB100 million in first-year premiums during the quarter. AI medical insurance experts facilitated first-year premiums that rose 25.6% sequentially, while AI-driven activity in the WeChat scenario contributed more than RMB10 million in first-year premiums.
- AI Insurance Tools Expanded Operational CapacityThe underwriting assistant Kuiyi.ai had answered more than 130,000 underwriting questions since launch. AI super sales representatives consistently outperformed human life planners on annual premium policies, and the number of users served grew nearly 50% sequentially.
- Broad AI Integration and Patent PortfolioAI was integrated across core business scenarios, including acquisition, prescreening, claims, customer service, quality inspection, and insurance operations. As of the end of June, Waterdrop had filed 80 AI-native large language model patents, including 10 overseas patents.
- Medical Crowdfunding Reached Large Cumulative ScaleWaterdrop's medical crowdfunding platform had raised funds for approximately 3.82 million patients, received contributions from around 499 million donors, and raised a total of RMB74.7 billion as of the end of June 2026.
- Improved Medical Crowdfunding Risk ControlThe company continued upgrading its AI-driven risk-control model, including asset-concealment detection and sensitive-identity detection, by combining semantic analysis of identification information, medical information, and user-generated content.
- Digital Clinical Trial Enrollment AcceleratedThe healthcare business enrolled more than 1,500 patients in the quarter, up 54% year over year, with cumulative patients served surpassing 17,000. Growth was driven mainly by higher matching efficiency and stronger enrollment capabilities.
- Chronic Disease Enrollment Increased SignificantlyChronic disease enrollment increased 80% year over year in the second quarter, validating the company's enrollment capabilities in studies with high screening-failure rates.
- Clinical Trial Partner and Product ExpansionThe E-Find platform signed 167 new products during the quarter, and the number of pharmaceutical companies and CROs partnered with surpassed 255.
- Strong Cash Position Supports Investment and Shareholder ReturnsCash and cash equivalents, short-term investments, and other cash positions totaled approximately RMB2.653 billion as of June 30, 2026. Management said the cash reserve provides support for business investments and shareholder returns.
- Dividend and Share Repurchase Programs ApprovedThe board approved a cash dividend of $0.03 per ADS, or $0.003 per ordinary share, with aggregate payments of approximately $10.8 million. It also approved a fixed share repurchase program of up to $50 million over the next 12 months. Since the first program launched in 2021, the company had repurchased approximately 62.9 million ADS for about $120 million to $121 million as of August 31, 2026.
- Full-Year 2026 Growth Targets MaintainedWaterdrop targets more than 40% year-over-year growth in total revenue and over 10% growth in operating profit for full-year 2026.
- Charitable Platform Expanded Its Social ImpactAs of June 30, 2026, Waterdrop's charity platform had partnered with 119 public charitable organizations and launched more than 15,600 charity programs.
- Operating Profit IncreasedSecond-quarter operating profit reached approximately RMB111 million, up 14.3% year over year and 39.2% quarter over quarter.
- Continued Investment in User Acquisition and New InitiativesManagement said it plans to maintain an active user-acquisition pace in the second half of 2026 and throughout 2027, with current-period users expected to contribute through renewals, upsells, and cross-sells. The company is also piloting a portable AI office assistant across major global markets and reported encouraging early feedback.
DE:717 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Dec 09, 2026 | 2026 (Q3) | ―- | 0.01 | ― | ― |
| Sep 08, 2026 | 2026 (Q2) | ―0.00 | 0.01 | -25.00% (-0.00) | |
| Jun 16, 2026 | 2026 (Q1) | ―0.00 | 0 | 50.00% (+0.00) | |
| Mar 25, 2026 | 2025 (Q4) | 0.040.01 | 0 | 33.33% (+0.00) | |
| Dec 03, 2025 | 2025 (Q3) | 0.040.01 | 0 | 136.67% (+0.01) | |
| Sep 04, 2025 | 2025 (Q2) | 0.030.01 | 0 | 100.00% (+0.00) | |
| Jun 05, 2025 | 2025 (Q1) | 0.040.00 | 0 | 0.00% (+0.00) | |
| Mar 12, 2025 | 2024 (Q4) | 0.030.00 | 0 | 50.00% (+0.00) | |
| Dec 11, 2024 | 2024 (Q3) | 0.030.00 | 0 | 200.00% (+0.00) | |
| Sep 04, 2024 | 2024 (Q2) | 0.030.00 | 0 | 100.00% (+0.00) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
