Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 3

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 14,173 10,452 Total general, administrative and operating expenses41,825 22,826 86,817 70,767 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES39,487 42,791 81,480 (61,118)Income tax (benefit) expense(298)2,325 189 2,556 NET INCOME (LOSS)39,785 40,466 81,291 (63,674)Net loss attributable to non-controlling interests5,035 2,383 14,231 33,034 NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY44,820 42,849 95,522 (30,640)Preferred stock dividends(12,118)(10,439)(36,021)(31,317)NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$32,702 $32,410 $59,501 $(61,957)Basic earnings (loss) per common share$0.36 $0.36 $0.66 $(0.68)Diluted earnings (loss) per common share$0.36 $0.36 $0.65 $(0.68)Weighted average shares outstanding-basic90,406 90,582 90,437 90,895 Weighted average shares outstanding-diluted91,614 90,586 91,352 90,895 

The accompanying notes are an integral part of the condensed consolidated financial statements.5

ADAMAS TRUST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Dollar amounts in thousands)

(unaudited)

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$32,702 $32,410 $59,501 $(61,957)OTHER COMPREHENSIVE INCOME    Reclassification adjustment for net loss included in net loss— — — 4 TOTAL OTHER COMPREHENSIVE INCOME— — — 4 COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$32,702 $