Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 131

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 131
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2025 (amounts in thousands, except per share data):

For the Three Months Ended June 30, 2025For the Six Months Ended June 30, 2025AmountSharesPer Share (1)AmountSharesPer Share (1)Beginning Balance$847,836 90,529 $9.37 $840,610 90,575 $9.28 Common stock issuance, net (2)2,467 16 3,328 (30)Preferred stock issuance, net3,969 3,969 Preferred stock issuance liquidation preference(4,388)(4,388)Common stock repurchases(1,502)(231)(1,502)(231)Balance after share activity848,382 90,314 9.39 842,017 90,314 9.32 Adjustment of redeemable non-controlling interest to estimated redemption value(3,562)(0.04)(8,899)(0.10)Dividends and dividend equivalents declared(18,629)(0.20)(37,212)(0.41)Net (loss) income attributable to Company's common stockholders(3,486)(0.04)26,799 0.30 Ending Balance$822,705 90,314 $9.11 $822,705 90,314 $9.11 

(1)Outstanding shares used to calculate book value per common share for the three and six months ended June 30, 2025 are 90,313,984.

(2)Includes amortization of stock based compensation.

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Non-GAAP Financial Measures

In addition to the results presented in accordance with GAAP, this Quarterly Report on Form 10-Q includes certain non-GAAP financial measures, including adjusted interest income, adjusted interest expense, adjusted net interest income (loss), yield on average interest earning assets, average financing cost, net interest spread, earnings available for distribution and adjusted book value per common share. Our management team believes that these non-GAAP financial measures, when considered with our GAAP financial statements, provide supplemental information useful for investors as it enables them to evaluate our current performance and trends using the metrics that management uses to operate our business. Our presentation of non-GAAP financial measures may not be comparable to similarly-titled measures of other companies, who may use different calculations. Because these measures are not calculated in accordance with GAAP, they should not be considered a substitute for,