Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 208

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 208
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For the Three Months Ended June 30, 2025For the Six Months Ended June 30, 2025Net (loss) income attributable to Company's common stockholders$(3,486)$26,799 Net (loss) income attributable to Company's common stockholders per share (basic)$(0.04)$0.30 Earnings available for distribution attributable to Company's common stockholders (1)$20,024 $38,217 Earnings available for distribution per common share (1)$0.22 $0.42 Yield on average interest earning assets (1) (2)6.48 %6.48 %Interest income$140,901 $270,636 Interest expense$104,454 $201,091 Net interest income$36,447 $69,545 Net interest spread (1) (3)1.50 %1.42 %Book value per common share at the end of the period$9.11 $9.11 Adjusted book value per common share at the end of the period (1)$10.26 $10.26 Economic return on book value (4)(0.64)%2.48 %Economic return on adjusted book value (5)0.29 %3.00 %Dividends per common share$0.20 $0.40 

(1)Represents a non-GAAP financial measure. A reconciliation of the Company's non-GAAP financial measures to their most directly comparable GAAP measure is included in "Non-GAAP Financial Measures" elsewhere in this section.

(2)Calculated as the quotient of our adjusted interest income and our average interest earning assets and excludes all Consolidated SLST assets other than those securities owned by the Company. 

(3)Our calculation of net interest spread may not be comparable to similarly-titled measures of other companies who may use a different calculation.

(4)Economic return on book value is based on the periodic change in GAAP book value per common share plus dividends declared per common share, if any, during the period. 

(5)Economic return on adjusted book value is based on the periodic change in adjusted book value per common share, a non-GAAP financial measure, plus dividends declared per common share, if any, during the period.

Key Developments During Second Quarter 2025

Investing Activities

•Acquired approximately $503.7