← Waterdrop Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Net Income From Continuing Operations | — | — | — | $607.7m | $163.7m | $350.9m | $565.1m | |
| Net Income (Loss) Attributable to Parent | — | ($663.9m) | ($247.0m) | $88.1m | $167.2m | $367.5m | $568.9m | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | ($1.1b) | ($270.9m) | $88.1m | $23.6m | $50.3m | $81.4m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | $663.9m | $247.0m | $88.1m | $23.1m | $48.1m | $80.8m | |
| Amortization | — | $173k | $29k | $20k | — | — | — | |
| Amortization of Intangible Assets | — | $173k | $186k | $139k | $19k | $18k | $18k | |
| Depreciation | — | $12.9m | $2.8m | $3.3m | $1.9m | $1.6m | $2.0m | |
| Depreciation of property, equipment and software | $6.7m | $12.9m | $17.9m | $22.8m | $13.4m | $11.4m | $13.8m | |
| Amortization Cash Flow | — | — | — | $139k | $138k | $128k | $129k | |
| Amortization Of Intangibles | — | — | — | $139k | $138k | $128k | $129k | |
| Depreciation Amortization Depletion | — | — | — | $23.0m | $13.6m | $11.6m | $13.9m | |
| Deferred Income Tax Expense (Benefit) | — | $49.5m | ($225.0m) | $21.8m | ($2.1m) | $8.0m | ($22.3m) | |
| Deferred tax assets | — | — | ($11.8m) | $5.7m | ($15.5m) | ($2.8m) | $24.2m | |
| Deferred tax liabilities | $142.3m | $49.5m | ($213.1m) | $16.2m | $13.4m | $10.9m | ($46.5m) | |
| Share-based Payment Arrangement, Noncash Expense | — | $227.8m | $35.5m | $16.2m | $18.9m | $11.9m | $7.4m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | $0 | $784k | $0 | $2.1m | $0 | $0 | |
| Goodwill, Impairment Loss | — | — | — | — | $0 | $0 | $0 | |
| Impairment of Intangible Assets, Finite-lived | — | $0 | $717k | $0 | $0 | $24.3m | $0 | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | $6.4m | ($1.4m) | ($3.0m) | — | — | |
| Share-based compensation expense | $28.0m | $227.8m | $226.2m | $112.0m | $133.9m | $86.9m | $51.8m | |
| Impairment loss | — | — | $40.5m | $372k | $3.1m | $24.3m | — | |
| Asset Impairment Charge | — | — | — | $372k | $3.1m | $24.3m | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment | $12k | ($178k) | ($86k) | ($200k) | ($220k) | ($91k) | ($8k) | |
| Income (Loss) from Equity Method Investments | — | ($15k) | — | — | — | — | — | |
| Income Tax Expense (Benefit) | — | $50.2m | ($34.7m) | $3.3m | $78k | $1.3m | ($3.1m) | |
| Other Nonoperating Income (Expense) | — | $8.1m | $1.5m | $9.7m | $4.3m | $3.5m | $5.2m | |
| Operating lease liabilities | $42.9m | $21.1m | ($5.5m) | ($34.5m) | $41.6m | ($5.5m) | ($1.5m) | |
| Earnings (Loss)es From Equity Investments | — | — | $0 | $0 | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||
| Additional Financial Items | ||||||||
| Increase (Decrease) in Accounts Receivable | — | $286.8m | $16.3m | $6.2m | ($2.9m) | $4.8m | $80.4m | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | ($1.3m) | $1.5m | $589k | $612k | $1.1m | $39k | |
| Gain (Loss) on Termination of Lease | — | — | — | ($315k) | — | ($53k) | $54k | |
| General and Administrative Expense | — | $407.2m | $83.2m | $56.3m | $56.7m | $50.4m | $44.3m | |
| Goodwill | — | $3.1m | $537k | $496k | $11.4m | $11.1m | $11.5m | |
| Investment Income, Interest | — | $26.5m | $7.6m | $11.8m | $19.2m | $20.4m | $19.4m | |
| Operating Costs and Expenses | — | $742.3m | $165.5m | $147.8m | $168.4m | $180.1m | $277.9m | |
| Operating Expenses | — | $3.5b | $795.4m | $336.9m | $371.5m | $355.3m | $515.8m | |
| Proceeds from Stock Options Exercised | — | $2.1m | $466k | $1.4m | $1.6m | $990k | $920k | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | $7.7m | — | — | |
| Net profit | ($321.5m) | ($663.9m) | ($1.6b) | $607.7m | $163.7m | $350.9m | $565.1m | |
| Loss from disposals of subsidiaries | — | ($180k) | $252k | $0 | $2.2m | — | $322k | |
| Loss/(gain) from early termination of lease | — | — | — | $2.2m | — | $384k | ($378k) | |
| Allowance for doubtful debts | — | — | — | $23.5m | $9.6m | $12.6m | $18.0m | |
| Interest income | — | — | — | ($6.0m) | ($19.8m) | ($17.0m) | ($8.6m) | |
| Foreign exchange gain | — | — | — | ($4.1m) | ($4.3m) | ($8.0m) | ($276k) | |
| Accounts receivable | ($147.3m) | ($286.8m) | ($104.1m) | ($42.8m) | $20.3m | ($35.1m) | ($562.1m) | |
| Contract assets | ($528.6m) | ($230.9m) | $255.1m | $39.8m | ($99.9m) | ($66.2m) | ($329.4m) | |
| Prepaid expense and other assets | ($153.7m) | ($385.6m) | $254.8m | $85.1m | $149.9m | $16.2m | ($68.4m) | |
| Amount due from/to related parties | $2.7m | $3.9m | $10.4m | ($8.2m) | ($1.8m) | $915k | ($1.2m) | |
| Insurance premium payables | $154.3m | $287.1m | $77.7m | ($168.4m) | $75.3m | ($54.6m) | $147.5m | |
| Accrued expenses and other current liabilities | $303.4m | $47.4m | ($52.0m) | $85.0m | ($43.5m) | $107.9m | $438.8m | |
| Right of use assets, net | ($49.2m) | ($11.0m) | $1.6m | $28.6m | ($36.7m) | $3.5m | $2.8m | |
| Proceeds from early redemption of long-term investments | — | — | — | — | — | $72.0m | $72.5m | |
| Acquisitions of subsidiaries, net of cash acquired | ($5.1m) | ($28.7m) | $765k | — | ($195.9m) | — | — | |
| Disposal of subsidiaries, net of cash disposed | — | $8.4m | — | — | ($1.3m) | — | $121k | |
| Proceeds from short-term loans | — | — | — | — | $167.2m | $246.9m | $110.0m | |
| Repayment of short-term loans | ($19.1m) | — | — | — | ($30.1m) | ($187.1m) | ($261.5m) | |
| Proceeds from exercise of share option | — | $2.1m | $3.0m | $9.7m | $11.7m | $7.2m | $6.4m | |
| Payment for share repurchase | — | — | ($16.5m) | ($67.0m) | ($526.0m) | ($107.0m) | ($91.2m) | |
| Principal payments under finance lease obligation | ($68k) | ($169k) | ($192k) | ($164k) | ($19k) | — | — | |
| Beginning Cash Position | — | — | — | $1.5b | $2.1b | $974.0m | $1.5b | |
| Cash Flow From Continuing Financing Activities | — | — | — | ($57.5m) | ($377.2m) | ($198.6m) | ($373.9m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | ($139.8m) | ($1.2b) | $291.6m | ($224.7m) | |
| Change In Account Payable | — | — | — | ($168.4m) | $75.3m | ($54.6m) | $147.5m | |
| Change In Accrued Expense | — | — | — | $85.0m | ($43.5m) | $107.9m | $438.8m | |
| Change In Other Current Assets | — | — | — | $28.6m | ($36.7m) | $3.5m | $2.8m | |
| Change In Other Current Liabilities | — | — | — | ($34.5m) | $41.6m | ($5.5m) | ($1.5m) | |
| Change In Other Working Capital | — | — | — | $12.8m | ($3.9m) | $9.0m | ($23.5m) | |
| Change In Payable | — | — | — | ($168.4m) | $75.3m | ($54.6m) | $147.5m | |
| Change In Payables And Accrued Expense | — | — | — | ($83.3m) | $31.8m | $53.3m | $586.2m | |
| Change In Prepaid Assets | — | — | — | $85.1m | $149.9m | $16.2m | ($68.4m) | |
| Change In Receivables | — | — | — | ($3.0m) | ($79.6m) | ($101.3m) | ($891.5m) | |
| Change In Working Capital | — | — | — | $5.7m | $103.1m | ($25.0m) | ($395.9m) | |
| Changes In Account Receivables | — | — | — | ($42.8m) | $20.3m | ($35.1m) | ($562.1m) | |
| Changes In Cash | — | — | — | $568.4m | ($1.1b) | $530.3m | ($354.8m) | |
| End Cash Position | — | — | — | $2.1b | $974.0m | $1.5b | $1.1b | |
| Financing Cash Flow | — | — | — | ($57.5m) | ($377.2m) | ($198.6m) | ($373.9m) | |
| Free Cash Flow | — | — | — | $753.8m | $393.0m | $218.8m | $214.3m | |
| Gain Loss On Sale Of Business | — | — | — | $0 | $2.2m | $0 | $322k | |
| Gain Loss On Sale Of PPE | — | — | — | $1.4m | $1.6m | $662k | $58k | |
| Investing Cash Flow | — | — | — | ($139.8m) | ($1.2b) | $291.6m | ($224.7m) | |
| Issuance Of Capital Stock | — | — | $2.1b | $0 | $0 | — | — | |
| Net Business Purchase And Sale | — | — | — | $0 | ($197.2m) | $0 | ($16.9m) | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | ($4.1m) | ($4.3m) | ($8.0m) | ($276k) | |
| Net Intangibles Purchase And Sale | — | — | ($816k) | $0 | $0 | — | — | |
| Net PPE Purchase And Sale | — | — | — | ($11.0m) | ($13.3m) | ($218.3m) | ($29.5m) | |
| Net Preferred Stock Issuance | — | — | $0 | $0 | — | — | — | |
| Operating Gains Losses | — | — | — | ($2.7m) | ($613k) | ($7.4m) | $104k | |
| Other Non Cash Items | — | — | — | ($3.9m) | ($19.8m) | ($16.6m) | ($9.0m) | |
| Preferred Stock Issuance | — | — | $0 | $0 | — | — | — | |
| Proceeds From Stock Option Exercised | — | — | — | $9.7m | $11.7m | $7.2m | $6.4m | |
| Provisionand Write Offof Assets | — | — | — | $23.5m | $9.6m | $12.6m | $18.0m | |
| Purchase Of Business | — | — | — | $0 | ($197.2m) | $0 | ($17.0m) | |
| Purchase Of Intangibles | — | — | ($816k) | $0 | $0 | — | — | |
| Purchase Of PPE | — | — | — | ($11.9m) | ($13.5m) | ($218.4m) | ($29.6m) | |
| Repurchase Of Capital Stock | — | — | — | ($67.0m) | ($526.0m) | ($107.0m) | ($91.2m) | |
| Sale Of Business | — | — | $765k | $0 | — | $0 | $121k | |
| Sale Of PPE | — | — | — | $902k | $227k | $164k | $112k | |
| Stock Based Compensation | — | — | — | $112.0m | $133.9m | $86.9m | $51.8m | |
| Net Cash Provided by (Used in) Operating Activities | ($532.9m) | ($777.1m) | ($172.1m) | $111.0m | $57.3m | $59.9m | $34.9m | |
| Cash flows from investing activities: | ||||||||
| Payments to Acquire Property, Plant, and Equipment | ($13.3m) | $26.7m | $5.6m | $1.7m | $1.9m | $29.9m | $4.2m | |
| Payments to Acquire Investments | — | — | — | $10.1m | — | — | — | |
| Purchase of short-term investments | ($528.7m) | ($1.3b) | ($13.1b) | ($17.1b) | ($11.4b) | ($6.4b) | ($6.2b) | |
| Purchase of long-term investments | ($2.1m) | — | ($9.9m) | — | ($200.7m) | ($1.0b) | ($1.3b) | |
| Net Investment Purchase And Sale | — | — | — | ($128.8m) | ($962.5m) | $509.9m | ($178.3m) | |
| Purchase Of Investment | — | — | — | ($17.2b) | ($11.6b) | ($7.5b) | ($7.5b) | |
| Proceeds from maturity of short-term investments | $503.3m | $110.0m | $12.3b | $17.0b | $10.7b | $7.9b | $7.2b | |
| Sale Of Investment | — | — | — | $17.0b | $10.7b | $8.0b | $7.3b | |
| Net cash (used in)/provided by investing activities | ($46.0m) | ($1.2b) | ($846.9m) | ($139.8m) | ($1.2b) | $291.6m | ($224.7m) | |
| Net Cash Provided by (Used in) Investing Activities | — | ($1.2b) | ($132.9m) | ($20.3m) | ($165.2m) | $40.0m | ($32.1m) | |
| Cash flows from financing activities: | ||||||||
| Issuance Of Debt | — | — | — | $0 | $167.2m | $246.9m | $110.0m | |
| Net Issuance Payments Of Debt | — | — | — | ($164k) | $137.1m | $59.8m | ($151.5m) | |
| Net Long Term Debt Issuance | — | — | — | ($164k) | ($19k) | $0 | $0 | |
| Net Short Term Debt Issuance | — | — | — | $0 | $137.1m | $59.8m | ($151.5m) | |
| Short Term Debt Issuance | — | — | — | $0 | $167.2m | $246.9m | $110.0m | |
| Long Term Debt Payments | — | — | — | ($164k) | ($19k) | $0 | $0 | |
| Repayment Of Debt | — | — | — | ($164k) | ($30.1m) | ($187.1m) | ($261.5m) | |
| Short Term Debt Payments | — | — | — | $0 | ($30.1m) | ($187.1m) | ($261.5m) | |
| Common Stock Issuance | — | — | $2.1b | $0 | $0 | — | — | |
| Net Common Stock Issuance | — | — | — | ($67.0m) | ($526.0m) | ($107.0m) | ($91.2m) | |
| Common Stock Payments | — | — | — | ($67.0m) | ($526.0m) | ($107.0m) | ($91.2m) | |
| Dividends paid | — | — | — | — | — | $22 | $19 | |
| Dividend to shareholders | — | — | — | — | — | ($158.7m) | ($130.4m) | |
| Cash Dividends Paid | — | — | — | $0 | $0 | ($158.7m) | ($130.4m) | |
| Common Stock Dividend Paid | — | — | — | $0 | $0 | ($158.7m) | ($130.4m) | |
| Net Cash Provided by (Used in) Financing Activities | $1.5b | $2.1b | $332.6m | ($8.3m) | ($53.1m) | ($27.2m) | ($53.5m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | ($26.9m) | ($2.2m) | $5.5m | $3.7m | $353k | ($3.0m) | |
| Effect of exchange rate changes on cash and cash equivalents | $27.3m | ($26.9m) | ($14.1m) | $37.7m | $26.2m | $2.6m | ($20.7m) | |
| Effect Of Exchange Rate Changes | — | — | — | $37.7m | $26.2m | $2.6m | ($20.7m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $29.2m | $25.4m | $87.9m | ($157.4m) | $73.0m | ($53.7m) | |
| Net (decrease)/increase in cash and cash equivalents and restricted cash | $921.3m | $29.2m | $162.0m | $606.2m | ($1.1b) | $532.9m | ($375.5m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $207.7m | $233.1m | $303.2m | $137.2m | $206.4m | $161.8m | |
| Cash and cash equivalents | $964.5m | $1.1b | $817.7m | $1.6b | $396.9m | $986.3m | $483.0m | |
| Restricted cash | $329.7m | $261.4m | $667.7m | $517.4m | $577.1m | $520.6m | $648.5m | |
| Total cash and cash equivalents and restricted cash at beginning of year | $1.3b | $1.3b | $1.5b | $2.1b | $974.0m | $1.5b | $1.1b | |
| Supplemental disclosure of cash flow information: | ||||||||
| Change In Cash Supplemental As Reported | — | — | — | $606.2m | ($1.1b) | $532.9m | ($375.5m) | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $311k | — | — | $0 | $33k | $258k | $40k | |
| Income Taxes Paid, Net | $149k | $704k | $397k | $247k | $180k | $273k | $52k |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.