Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 130

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 130
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 2,480 1,177 Equity transaction costs291 — 291 291 — 291 Total financing transaction costs$750 $4,552 $(3,802)$6,232 $8,098 $(1,866)

Financing transaction costs decreased in the three- and six- month periods as a result of decreased debt issuances in 2025 as compared to 2024.  Senior unsecured notes transaction costs and equity transaction costs recognized in the three months ended June 30, 2025 are related to a completed consent solicitation from holders of our 5.75% Senior Notes due 2026 for a covenant amendment and the replacement of an at-the-market preferred equity distribution agreement, respectively. 

103

Comprehensive (Loss) Income

The main components of comprehensive (loss) income for the three and six months ended June 30, 2025 and 2024, respectively, are detailed in the following table (dollar amounts in thousands):

For the Three Months Ended June 30,For the Six Months Ended June 30,20252024$ Change20252024$ ChangeNET (LOSS) INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$(3,486)$(26,028)$22,542 $26,799 $(94,367)$121,166 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net loss included in net loss— — — — 4 (4)TOTAL OTHER COMPREHENSIVE INCOME— — — — 4 (4)COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$(3,486)$(26,028)$22,542 $26,799 $(94,363)$121,162 

Beginning in the fourth quarter of 2019, the Company’s newly purchased investment securities are presented at fair value as a result of a fair value election made at the time of acquisition. Changes in the market values of investment securities where the Company elected the fair value option are reflected in earnings instead of in OCI.  As of June 30, 2025, all of the Company's investment securities are accounted for using the fair value option.

104

Analysis of Changes in GAAP Book Value 

The following table analyzes the changes in GAAP book value of our common stock for the three and six months ended June 30,