noun, の adjective, verbal noun
When hope has died out, you have no more hope, only despair.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
I am a hopelessly bad singer.
When my teacher told me that, I was filled with despair.
Now, having been dumped by my boyfriend, I’m in the depths of despair.
The other team is fifteen goals ahead of us, so we are in a pretty hopeless situation.