Adamas Trust, Inc. (ADAM)

Nasdaq: ADAM · Real Estate Investment Trusts · New York, NY · filing with the SEC since 2003

Grade6.4

◀ Past 6.4● Present 5.7▶ Future 7.4

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Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Feb 20, 2026	Feb 21, 2025	Feb 23, 2024	Feb 24, 2023	Feb 25, 2022	Feb 26, 2021	Feb 28, 2020	Feb 25, 2019	Feb 27, 2018	Feb 28, 2017
For lenders
Interest and dividend income	601,948	401,280	258,660	258,388	206,866	350,161	694,614	455,799	366,087	319,306
Interest expense on deposits and borrowings	452,647	317,425	192,134	129,419	·	·	·	·	·	·
Net interest income	149,301	83,855	66,526	128,969	127,582^r	127,093	127,864	78,728	57,986	64,638
Provision for credit losses	·	3,207	0	0	0	0	25	166	475	612
Selling, general and administrative	·	·	·	·	·	·	·	·	41,077	35,221
General and administrative	72,656	48,672	49,565	52,440	48,908	42,228	35,794^r	27,872^r	18,357	15,246
Total operating expenses	122,941	91,695	73,517	93,328^r	75,576^r	54,563	49,835	41,470	41,077	35,221
Operating income	137,802	-92,917	-77,724	-340,107	190,934	-287,262	172,477	103,738	91,922	·
Interest expense	·	·	192,134	129,419	79,284^r	223,068	566,750	377,071	308,101	254,668^r
Share of profit of equity-method investments	-3,168	16,011	17,785	15,074	33,896	26,670	23,626^r	10,585^r	27,164	22,202
Other income (expense), net	16,509	29,149	4,736	18,738	5,515	·	·	16,568	13,552	19,078
Income before income taxes	·	·	·	·	·	·	·	103,738	91,922	70,655
Income tax expense	145	1,036	75	542	2,458	981	-419	-1,057	3,355	3,095
Income from continuing operations	137,657	-93,953	-77,799	-340,649	188,476	-288,243	172,896	104,795	88,567	67,560
Net income including non-controlling interests	137,657	-93,953	-77,799	-340,649	188,476	-288,243	172,896	104,795	88,567	67,560
Net income to non-controlling interests	-11,391	-31,924	-29,134	-42,044	-4,724	267	-840	1,909	-3,413	9
Net income	149,048	-62,029	-48,665	-298,605	193,200	-288,510	173,736	102,886	91,980	67,551
Preferred dividends	47,942	41,756	41,837	41,972	42,859	41,186	28,901	23,700	15,660	12,900
Net income to common shareholders	101,106	-103,785	-90,035	-340,577	144,176	-329,696	144,835	79,186	76,320	54,651
Earnings per share, basic	1.12	-1.14	-0.99	-3.61^r	1.52^r	-3.56^b	2.60^b	2.48^b	2.72^b	2.00^b
Earnings per share, diluted	1.10	-1.14	-0.99	-3.61^r	1.51^r	-3.56^b	2.56^b	2.44^b	2.64^b	2.00^b
Weighted average shares, basic	90,427,000	90,815,000	91,042,000	94,322,000^r	94,808,000^r	92,751,000^b	55,345,000^b	31,810,750^b	27,959,000^b	27,398,500^b
Weighted average shares, diluted	91,510,000	90,815,000	91,042,000	94,322,000^r	95,242,000^r	92,751,000^b	60,649,000^b	36,862,500^b	32,585,750^b	27,398,500^b
Weighted average shares, basic and diluted	·	·	·	·	·	·	·	·	·	27,398,500^b

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 1-for-4 reverse split of Mar 2023.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Interest and dividend income what its loans and securities earnedus-gaap:InterestAndDividendIncomeOperating

Interest expense on deposits and borrowings what it paid for the money it lendsus-gaap:InterestExpenseOperating

Net interest income interest earned less interest paidus-gaap:InterestIncomeExpenseNet

Provision for credit losses set aside for loans that may not be repaid

us-gaap:ProvisionForLoanLeaseAndOtherLosses
us-gaap:ProvisionForLoanLossesExpensed

Selling, general and administrative the cost of selling and of running the companyus-gaap:SellingGeneralAndAdministrativeExpense

General and administrative the cost of running the company itselfus-gaap:GeneralAndAdministrativeExpense

Total operating expenses the running costs togetherus-gaap:OperatingExpenses

Operating income profit from running the business, before interest and taxus-gaap:OperatingIncomeLoss

Interest expense what its borrowing costus-gaap:InterestExpense

Share of profit of equity-method investments its share of companies it partly ownsus-gaap:IncomeLossFromEquityMethodInvestments

Other income (expense), net gains and costs outside the businessus-gaap:OtherNonoperatingIncomeExpense

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Income from continuing operations profit from the businesses it keepsus-gaap:IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest

Net income including non-controlling interests the whole group's profit, minority holders' share includedus-gaap:ProfitLoss

Net income to non-controlling interests the share that belongs to minority holdersus-gaap:NetIncomeLossAttributableToNoncontrollingInterest

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Preferred dividends paid to preferred holders before common shareholdersus-gaap:PreferredStockDividendsIncomeStatementImpact

Net income to common shareholders what is left for common shareholdersus-gaap:NetIncomeLossAvailableToCommonStockholdersBasic

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Weighted average shares, basic and diluted the average count, where both counts are the sameus-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted

SI Assistanton ADAM · research, not advice