Press Release: Waterdrop Inc. Announces Third Quarter 2024 Unaudited Financial Results

Dow Jones12-11
Operating revenue, 
 net                        686,478        676,156        704,141        100,339      1,971,343      2,084,997        297,110 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
Operating costs and 
expenses(i) 
 Operating costs          (312,278)      (319,101)      (340,560)       (48,529)      (893,401)      (990,904)      (141,203) 
 Sales and marketing 
  expenses                (187,685)      (157,413)      (173,172)       (24,677)      (565,634)      (512,731)       (73,064) 
 General and 
  administrative 
  expenses                (114,641)       (93,978)      (110,988)       (15,816)      (306,436)      (293,927)       (41,884) 
 Research and 
  development 
  expenses                 (73,942)       (53,300)       (52,951)        (7,545)      (239,254)      (162,237)       (23,119) 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
Total operating 
 costs and expenses       (688,546)      (623,792)      (677,671)       (96,567)    (2,004,725)    (1,959,799)      (279,270) 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
Operating 
 (loss)/profit              (2,068)         52,364         26,470          3,772       (33,382)        125,198         17,840 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
Other income 
 Interest income             32,890         37,510         36,005          5,131        101,384        113,319         16,148 
 Foreign currency 
  exchange 
  (loss)/gain               (3,734)          (444)          7,909          1,127        (2,614)          8,979          1,279 
 Others, net                  7,758          1,300         16,928          2,412         27,750         19,691          2,806 
Profit before income 
 tax                         34,846         90,730         87,312         12,442         93,138        267,187         38,073 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
 Income tax 
  benefit/(expense)           1,479        (7,026)          7,843          1,118         14,609        (7,771)        (1,107) 
Net profit                   36,325         83,704         95,155         13,560        107,747        259,416         36,966 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
 Net (loss)/profit 
  attributable to 
  mezzanine   equity 
  classified as 
  non-controlling 
  interests 
    shareholders              (417)        (4,586)          2,350            335          (417)        (2,311)          (329) 
Net profit 
 attributable to 
 ordinary 
 shareholders                36,742         88,290         92,805         13,225        108,164        261,727         37,295 
                      =============  =============  =============  =============  =============  =============  ============= 
Other comprehensive 
income: 
 Foreign currency 
  translation 
  adjustment, net of 
    tax                       8,983         13,497       (83,054)       (11,835)         76,803       (44,414)        (6,329) 
 Unrealized loss on 
  available for sale 
    investments, net 
  of tax                          -              -              -              -        (1,551)              -              - 
Total comprehensive 
 income                      45,308         97,201         12,101          1,725        182,999        215,002         30,637 
                      -------------  -------------  -------------  -------------  -------------  -------------  ------------- 
 Total comprehensive 
  (loss)/profit 
  attributable   to 
  mezzanine equity 
  classified as non- 
    controlling 
  interests 
  shareholders                (417)        (4,586)          2,350            335          7,074        (2,311)          (329) 
Total comprehensive 
 income attributable 
 to   ordinary 
 shareholders                45,725        101,787          9,751          1,390        175,925        217,313         30,966 
                      =============  =============  =============  =============  =============  =============  ============= 
Weighted average 
number of ordinary 
shares   used in 
computing net 
profit per share 
 Basic                3,719,628,339  3,660,589,600  3,624,431,887  3,624,431,887  3,793,678,209  3,660,415,080  3,660,415,080 
 Diluted              3,808,529,672  3,734,346,444  3,689,357,838  3,689,357,838  3,921,118,226  3,726,590,324  3,726,590,324 
Net profit per 
share attributable 
to ordinary 
shareholders 
 Basic                         0.01           0.02           0.03           0.00           0.03           0.07           0.01 
 Diluted                       0.01           0.02           0.03           0.00           0.03           0.07           0.01 
 
 
(i)  Share-based compensation expenses are 
included in the operating costs and expenses as 
follows. 
 
                                      For the Three Months Ended                           For the Nine Months Ended 
                      ----------------------------------------------------------  ------------------------------------------- 
                      September 30,                                               September 30, 
                          2023       June 30, 2024       September 30, 2024           2023            September 30, 2024 
                      -------------  -------------  ----------------------------  -------------  ---------------------------- 
                           RMB            RMB            RMB            USD            RMB            RMB            USD 
Sales and marketing 
 expenses                   (8,944)        (1,320)        (1,993)          (284)       (33,361)        (5,133)          (731) 
General and 
 administrative 
 expenses                  (22,060)       (16,285)       (21,297)        (3,035)       (66,642)       (51,909)        (7,397) 
Research and 
 development 
 expenses                   (3,758)        (2,600)        (2,563)          (365)       (11,078)        (8,146)        (1,161) 
Total                      (34,762)       (20,205)       (25,853)        (3,684)      (111,081)       (65,188)        (9,289) 
                      =============  =============  =============  =============  =============  =============  ============= 
 
 
                                    WATERDROP INC. 
                     RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS 
                  (All amounts in thousands, unless otherwise noted) 
 
 
                         For the Three Months Ended         For the Nine Months Ended 
                    ------------------------------------  ----------------------------- 
                                June 
                    September    30,     September 30,    September 
                    30, 2023    2024          2024        30, 2023   September 30, 2024 
                    ---------  -------  ----------------  ---------  ------------------ 
                       RMB       RMB      RMB      USD       RMB       RMB       USD 
 
Net profit 
 attributable to 
 the Company's 
 ordinary 
  shareholders         36,742   88,290   92,805   13,225    108,164  261,727     37,295 
                    ---------  -------  -------  -------  ---------  -------  --------- 
Add: 
 Share-based 
  compensation 
  expense 
  attributable to 
  the Company's 
  ordinary 
  shareholders         33,810   20,015   25,673    3,658    110,130   64,948      9,255 
 Foreign currency 
  exchange 
  loss/(gain)           3,734      444  (7,909)  (1,127)      2,614  (8,979)    (1,279) 
 Impairment of 
  intangible 
  assets acquired 
  from business 
  combination               -        -   20,560    2,930          -   20,560      2,930 
 Tax effects on 
  non-GAAP 
  adjustments               -        -  (5,140)    (732)          -  (5,140)      (732) 
Adjusted net 
 profit 
 attributable to 
 the Company's 
 ordinary 
 shareholders          74,286  108,749  125,989   17,954    220,908  333,116     47,469 
                    =========  =======  =======  =======  =========  =======  ========= 
 

View original content:https://www.prnewswire.com/news-releases/waterdrop-inc-announces-third-quarter-2024-unaudited-financial-results-302328817.html

SOURCE Waterdrop Inc.

 

(END) Dow Jones Newswires

December 11, 2024 05:20 ET (10:20 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment