Waterdrop (WDH) Operating Expenses (2020 - 2026)
Waterdrop (WDH) posted quarterly Operating Expenses of -$168.5 million for Q1 2026, down 80.4% year-over-year from -$859.5 million in Q1 2025, and up 11.23% quarter-over-quarter from -$189.8 million in Q4 2025.
Waterdrop (WDH) Operating Expenses (2020 - 2026) Analysis & Trends
Waterdrop's Operating Expenses history runs 7 years deep, the most recent figure standing at -$168.5 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 80.4% year-over-year to -$168.5 million; the TTM figure through Mar 2026 stood at -$582.7 million (down 60.67% YoY), while the FY2025 annual figure was $277.9 million, up 54.27% from the prior year.
- Operating Expenses for Q1 2026 stood at -$168.5 million, up from -$189.8 million in the prior quarter.
- The five-year high for Operating Expenses was -$81.4 million in Q2 2022, with the low at -$189.8 million in Q4 2025.
- The 5-year median for Operating Expenses is -$91.2 million (2024), against an average of -$102.9 million.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses soared 70.03% in 2022, then plunged 118.58% in 2025.
- Waterdrop's Operating Expenses stood at -$88.0 million in 2022, then dropped by 1.33% to -$89.1 million in 2023, then increased by 2.56% to -$86.8 million in 2024, then slumped by 118.58% to -$189.8 million in 2025, then grew by 11.23% to -$168.5 million in 2026.
- Business Quant data shows WDH's Operating Expenses at -$168.5 million in Q1 2026, -$189.8 million in Q4 2025, and -$121.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,071.09 Bn | 744.11 Bn | 55.86 Bn | 86.07 Bn |
| 2 | Sun Life Financial | 43.76 Bn | 32.53 Bn | - | 1.71 Bn |
| 3 | American International | 40.46 Bn | 2.65 Bn | 3.50 Bn | 5.82 Bn |
| 4 | Hartford Insurance | 37.43 Bn | 21.12 Bn | 3.18 Bn | 6.03 Bn |
| 5 | Arch Capital | 34.30 Bn | 33.19 Bn | 2.47 Bn | 3.49 Bn |
| 6 | Aegon | 28.09 Bn | 28.09 Bn | - | - |
| 7 | Pelagos Insurance Capital | 2.03 Bn | 1.58 Bn | 357.40 Mn | 597.10 Mn |
| 8 | Exzeo | 1.47 Bn | 1.33 Bn | 36.84 Mn | 8.38 Mn |
| 9 | International General Insurance Holdings | 1.15 Bn | 911.58 Mn | -5.60 Mn | 23.10 Mn |
| 10 | Waterdrop | 359.74 Mn | 230.42 Mn | 109.06 Mn | -168.50 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -168.50 Mn |
| Dec 31, 2025 | -189.81 Mn |
| Sep 30, 2025 | -120.96 Mn |
| Jun 30, 2025 | -103.39 Mn |
| Mar 31, 2025 | -93.40 Mn |
| Dec 31, 2024 | -86.84 Mn |
| Sep 30, 2024 | -96.57 Mn |
| Jun 30, 2024 | -85.84 Mn |
| Mar 31, 2024 | -91.18 Mn |
| Dec 31, 2023 | -89.12 Mn |
| Sep 30, 2023 | -94.37 Mn |
| Jun 30, 2023 | -99.34 Mn |
| Mar 31, 2023 | -86.76 Mn |
| Dec 31, 2022 | -87.95 Mn |
| Sep 30, 2022 | -89.92 Mn |
| Jun 30, 2022 | -81.44 Mn |
| Mar 31, 2022 | -83.93 Mn |
| Dec 31, 2021 | -106.37 Mn |
| Sep 30, 2021 | -200.56 Mn |
| Jun 30, 2021 | -271.77 Mn |