Waterdrop’s Q1 revenue rises to CNY 1.24 billion
Waterdrop’s revenue jumped 64.8% year over year to CNY 1.24 billion in Q1 2026, driven mainly by a surge in insurance-related income.
The company’s insurance segment revenue was up 74.1% to CNY 1.15 billion, with an operating margin of 13.3%.
Waterdrop also reported a net profit attributable to ordinary shareholders of more than CNY 98 million, maintaining GAAP profitability for 17 consecutive quarters.
The company has seen AI adoption expand across its business, with user-facing AI tools adding about CNY 87 million in incremental premiums and service agents handling over 1 million interactions per month.