loanDepot Announces Fourth Quarter and Year-End 2023 Financial Results
loanDepot, Inc. Class A (LDI)
Company Research
Source: Business Wire
Vision 2025 productivity improvements more than offset market-driven revenue decline, resulting in 61% reduction in annual net loss. Company exits 2023 with strong liquidity position.Full-year 2023 highlights:Revenue decreased $282 million or 22% to $974 million from 2022, primarily driven by lower market volume; growth in servicing income and HELOC revenue as well as higher gain on sale margin partially offset the impact of volume decrease.Total expenses decreased $693 million or 36% to $1.25 billion, primarily driven by cost productivity improvements and lower origination volume; 2023 expenses included $27 million of restructuring charges, lease and other asset impairment charges and accruals related to the expected settlement of outstanding litigation.Annual net loss narrowed $375 million or 61% to $236 million.Adjusted annual net loss declined by $315 million or 69% to $142 million.Fourth quarter 2023 highlights:Year-over-year revenue increased $59 million or 35% to $229 million p
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LDI
Earnings
- 3/12/24 - In-Line
LDI
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/22/24 - Form 8-K
- 4/19/24 - Form ARS
- LDI's page on the SEC website