loanDepot Q4 net loss $59.8M; full-year loss narrows 61% to $235.5M

loanDepot, Inc.

Q4 revenue $228.6M, net loss $59.8M, diluted EPS -$0.16; full-year revenue $974M, net loss $235.5M.
Annual net loss narrowed $375M (61%) YoY; adjusted net loss fell 69% to $142M.
Company launched $120M annualized cost reduction program; ~86% confirmed by Feb 29, 2024.
Cash balance $661M; gain on sale margin 2.43% in Q4 vs 1.45% a year ago.
Full-year total expenses down $693M (36%) driven by cost productivity and lower volume.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

loanDepot, Inc. reported financial results for the three and twelve months ended December 31, 2023.

Period: the three and twelve months ended December 31, 2023
Result: reported results

Exact text from the filing

On March 12, 2024, loanDepot, Inc. (the "Company") issued a press release announcing its results for the three and twelve months ended ended December 31, 2023 (the "Earnings Press Release").

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10 earnings releases filed in the last 30 days. Browse all earnings releases →

loanDepot, Inc. filing history →

Source: SEC EDGAR

accession 0001831631-24-000059

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