Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 1

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 Entities12,782 12,359 Stockholders' Equity:  Preferred stock, par value $0.01 per share, 31,500,000 shares authorized, 22,339,909 and 22,164,414 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively ($558,498 and $554,110 aggregate liquidation preference as of June 30, 2025 and December 31, 2024, respectively)539,414 535,445 Common stock, par value $0.01 per share, 200,000,000 shares authorized, 90,313,984 and 90,574,996 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively903 906 Additional paid-in capital2,281,974 2,289,044 Accumulated other comprehensive loss— — Accumulated deficit(1,441,088)(1,430,675)Company's stockholders' equity1,381,203 1,394,720 Non-controlling interests2,670 4,055 Total equity1,383,873 1,398,775 Total Liabilities and Equity$10,552,332 $9,217,282     

(1)Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of June 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $4,413,851 and $3,988,584, respectively, and the liabilities of consolidated VIEs totaled $3,859,442 and $3,477,211, respectively. See Note 7 for further discussion.

The accompanying notes are an integral part of the condensed consolidated financial statements.4

Table of Contents

NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except per share data)

(unaudited)

For the Three Months EndedJune 30,For the Six Months EndedJune 30,2025202420252024NET INTEREST INCOME:    Interest income$140,901 $90,775 $270,636 $174,666 Interest