Q2 2024 Waterdrop Inc Earnings Call Transcript
Key Points
- Waterdrop Inc (WDH) achieved a net profit attributable to ordinary shareholders of nearly RMB88.3 million, reflecting a year-over-year increase of over 300%.
- The company's insurance business equity reached RMB1.8 billion with an operating profit margin exceeding 21%.
- Waterdrop Inc (WDH) has maintained stability for 10 consecutive quarters since Q1 of 2022.
- The company has been actively repurchasing shares in the open market for three consecutive years since 2021, with a new share repurchase program approved for up to $50 million within the next 12 months.
- Waterdrop Inc (WDH) plans to distribute dividends at least once a year, with the second special cash dividend based on the first-half 2024 operating results amounting to about $7.5 million.
- Despite overall stability, the company's net operating revenue of RMB676 million was down 4.1% quarter-over-quarter.
- Insurance-related income decreased by RMB5.4 million sequentially.
- Operating costs increased by RMB11.5 million in personnel costs year-over-year.
- Long-term insurance FYP reached RMB530 million, but the YoY and QoQ performance was pressured by high base figures and product changes.
- R&D expenses were RMB53.3 million, down 38.5% year-over-year and 4.8% quarter-over-quarter due to a decrease in personnel costs and share-based compensation expenses.
Good morning, everyone. This is Tracy Lisang from Waterdrop Investor Relations. It's my pleasure to welcome everyone to Waterdrop's second-quarter 2024 earnings conference call. (Events Instructions) As a reminder, today's conference call is being recorded.
Please note that discussion today will contain forward-looking statements made under Safe Harbor provisions of US Private Securities and the Litigation Reform Act of 1995. Forward-looking statements are factor to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include, but not limited to, those outlined in our public filings with the SEC. The company does not undertake any obligation to update any forward-looking statements, except as required any under applicable law.
Also, this call includes discussion of certain non-GAAP measures. Please refer to our earnings release for a reconciliation between non-GAAP and GAAP.
Joining us today on the call are Mr. Shen Peng, our Founder, Chairman
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
