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New words:
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adjudication, advisor, apply, assessed, audit, base, Code, compensate, conducting, cumulative, determination, enacted, enactment, escrow, evaluating, evidence, examination, expired, Facilitation, index, interbank, interpret, jurisdiction, language, LIBOR, London, making, mix, mortgaging, offered, offsetting, open, optional, Overnight, passed, percentage, practical, projected, prospectively, questioning, realizable, realized, recover, recovered, replacement, reversed, revise, Scope, separated, settled, smaller, statute, sustained, taxing, technical, temporary, thirteen, transition, treated, treble, variability
Financial report summary
?Management Discussion
- For the year ended December 31, 2023, we originated $108.3 billion in loans, which was a decrease of $19.0 billion, or 14.9%, from the $127.3 billion of originations during the year ended December 31, 2022. We reported a net loss of $69.8 million during the year ended December 31, 2023, which was a decrease of $1.0 billion, or 107.5%, compared to net income of $931.9 million for the year ended December 31, 2022. Adjusted EBITDA for the year ended December 31, 2023 was $478.3 million as compared to $282.4 million for the year ended December 31, 2022. Refer to the "Non-GAAP Financial Measures" section below for a detailed discussion of how we define and calculate Adjusted EBITDA.
- For the year ended December 31, 2022, we originated $127.3 billion in loans, which was a decrease of $99.2 billion, or 44%, from the year ended December 31, 2021. We generated $931.9 million of net income during the year ended December 31, 2022, which was a decrease of $636.5 million, or 40.6%, compared to net income of $1.57 billion for the year ended December 31, 2021. Adjusted EBITDA for the year ended December 31, 2022 was $282.4 million as compared to $1.42 billion for the year ended December 31, 2021. Refer to the "Non-GAAP Financial Measures" section below for a detailed discussion of how we define and calculate Adjusted EBITDA.