Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 138

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 138
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5,650 $270,636 $169,293 $5,373 $— $174,666 GAAP interest expense(181,666)— (19,425)(201,091)(129,173)— (8,586)(137,759)GAAP total net interest income (loss)$78,512 $4,808 $(13,775)$69,545 $40,120 $5,373 $(8,586)$36,907 GAAP interest income$260,178 $4,808 $5,650 $270,636 $169,293 $5,373 $— $174,666 Adjusted for:Consolidated SLST CDO interest expense(15,393)— — (15,393)(12,553)— — (12,553)TBA dollar roll income7 — — 7 — — — — Adjusted interest income$244,792 $4,808 $5,650 $255,250 $156,740 $5,373 $— $162,113 GAAP interest expense$(181,666)$— $(19,425)$(201,091)$(129,173)$— $(8,586)$(137,759)Adjusted for:Consolidated SLST CDO interest expense15,393 — — 15,393 12,553 — — 12,553 Net interest benefit of interest rate swaps5,328 — 1,438 6,766 14,808 — 1,814 16,622 Adjusted interest expense$(160,945)$— $(17,987)$(178,932)$(101,812)$— $(6,772)$(108,584)Adjusted net interest income (loss) (1)$83,847 $4,808 $(12,337)$76,318 $54,928 $5,373 $(6,772)$53,529 

(1)Adjusted net interest income (loss) is calculated by subtracting adjusted interest expense from adjusted interest income.

Earnings Available for Distribution

Previously, we presented undepreciated earnings (loss) as a supplemental non-GAAP financial measure comparable to GAAP net income (loss) attributable to Company's common stockholders. Commencing with the quarter