secwatch.observer — SEC 8-K summary
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Issuer:     loanDepot, Inc. (LDI)
CIK:        0001831631
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001831631-24-000110
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

loanDepot reports Q1 net loss of $72M; cyber incident cost $15M in charges, $22M lost revenue
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- Revenue $223M (+7% YoY); net loss $72M vs $92M YoY; adjusted net loss $38M.
- Cyber incident incurred $15M in direct charges and an estimated $22M revenue loss from system downtime.
- Loan origination volume $4.56B; gain on sale margin 2.84%; rate lock volume $6.80B.
- Cash balance $604M; achieved 93% of $120M supplemental productivity program through April.
- Management expects no further disruptions from cyber incident; focus remains on returning to profitability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831631/000183163124000110/0001831631-24-000110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831631/000183163124000110/ldi-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001831631-24-000110

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