Waterdrop (WDH) Operating Expenses (2020 - 2025)

Waterdrop has reported Operating Expenses for 6 years, with the latest figure at -$189.8 million in Q4 2025.

• For the quarter ending Q4 2025, Operating Expenses fell 118.58% year-over-year to -$189.8 million; the trailing twelve-month figure through Dec 2025 stood at -$507.6 million (down 40.82% YoY), and the FY2025 full-year result was $515.8 million, up 45.15% from the prior year.
• Operating Expenses for Q4 2025 stood at -$189.8 million, down from -$121.0 million in the prior quarter.
• The five-year high for Operating Expenses was -$81.4 million in Q2 2022, with the low at -$271.8 million in Q2 2021.
• Average Operating Expenses over 5 years is -$118.2 million, with a median of -$93.9 million recorded in 2023.
• Year-over-year, Operating Expenses sank 185.86% in 2021 and soared 70.03% in 2022.
• Tracing WDH's Operating Expenses over 5 years: stood at -$106.4 million in 2021, then gained by 17.31% to -$88.0 million in 2022, then fell by 1.33% to -$89.1 million in 2023, then gained by 2.56% to -$86.8 million in 2024, then slumped by 118.58% to -$189.8 million in 2025.
• The last three Operating Expenses figures came in at -$189.8 million (Q4 2025), -$121.0 million (Q3 2025), and -$103.4 million (Q2 2025), per Business Quant data.

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