The following is a summary of the Waterdrop, Inc. (WDH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• In Q4 2023, Waterdrop reported a total revenue of approximately $659 million.

• GAAP net profit for the company was around $59.1 million, marking a 61% sequential improvement.

• The GAAP net profit attributable to the company for the complete fiscal year 2023 was approximately $167 million.

• By the end of 2023, the company's reported cash, cash equivalents and short-term investments totaled about $3.39 billion, indicating an 8% growth from the preceding quarter.

Business Progress:

• The company showed a robust business performance in all sectors during Q4, overcoming prevailing challenges.

• A considerable client empowerment led to nearly 70% year-over-year revenue growth for the full year in one of the segments.

• The company has continued its significant investment in R&D, achieving progress in AI technology and machine learning models.

• The company has set its focus for 2024 on delivering high-quality services through technology innovations, ensuring medical performance sustainability, and exploiting technology for enhanced business benefits.

• With its significant cash reserve, the company plans to seize opportunities in insurance and healthcare sectors and fast-track technological improvements by strengthening AI capabilities.

• Nearly $88.8 million worth of company shares were repurchased as a step in the capital market.

More details: Waterdrop IR

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