Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 2

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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6,007 20,769 Depreciation and amortization5,895 12,576 Other real estate expenses10,988 21,100 Total expenses related to real estate22,890 54,445 Total net loss from real estate(2,235)(16,369)OTHER INCOME (LOSS):  Realized losses, net(41,100)(10,533)Unrealized gains (losses), net118,203 (39,390)(Losses) gains on derivative instruments, net(46,802)49,211 Income (loss) from equity investments3,589 (2,136)Impairment of real estate(3,905)(36,247)Loss on reclassification of disposal group— (14,636)Other income (loss)1,967 (3,592)Total other income (loss)31,952 (57,323)GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:General and administrative expenses 12,414 13,054 Portfolio operating expenses7,206 7,742 Debt issuance costs5,482 3,545 Total general, administrative and operating expenses25,102 24,341 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES37,713 (80,170)Income tax expense (benefit)648 (111)NET INCOME (LOSS)37,065 (80,059)Net loss attributable to non-controlling interests5,090 22,158 NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY42,155 (57,901)Preferred stock dividends(11,870)(10,439)NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$30,285 $(68,340)Basic earnings (loss) per common share$0.33 $(0.75)Diluted earnings (loss) per common share$0.33 $(0.75)Weighted average shares outstanding-basic90,583 91,117 Weighted average shares outstanding-diluted91,091 91,117 

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

NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Dollar amounts in thousands)

(unaud