secwatch.observer — SEC 8-K summary
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Issuer:     loanDepot, Inc. (LDI)
CIK:        0001831631
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0001831631-24-000266
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

loanDepot returns to profitability in Q3 2024; net income $3M vs loss a year ago
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- Revenue $315M (+18% YoY); adjusted revenue $329M (+26%). Pull-through gain on sale margin 329 bps, highest since downturn.
- Net income $3M (diluted EPS $0.01) vs net loss $34M (-$0.09) in Q3 2023; adjusted net income $7M vs adjusted net loss $29M.
- Adjusted EBITDA $64M vs $15M prior year; cash balance $483M supporting liquidity.
- Completed Vision 2025 restructuring; launched Project North Star strategic plan for durable revenue growth and efficiency.
- Announced Ridgeland Mortgage JV with Smith Douglas Homes to expand homebuilder partnerships.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831631/000183163124000266/0001831631-24-000266-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831631/000183163124000266/ldi-20241105.htm
  HTML page:      https://secwatch.observer/filing/0001831631-24-000266

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer