Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 241

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 241
---
 (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$32,702 $32,410 $292 $59,501 $(61,957)$121,458 OTHER COMPREHENSIVE INCOME Reclassification adjustment for net loss included in net loss— — — — 4 (4)TOTAL OTHER COMPREHENSIVE INCOME— — — — 4 (4)COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$32,702 $32,410 $292 $59,501 $(61,953)$121,454 

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 September 30, 2025, all of the Company's investment securities are accounted for using the fair value option.

111

Segment Information

As of September 30, 2025, the Company operates in two reportable segments: (i) investment portfolio and (ii) Constructive. The activities within Corporate/Other are reconciling items to the condensed consolidated financial statements and primarily consist of general and administrative expenses not directly attributable to Constructive, interest expense on senior unsecured notes and subordinated debentures, financing transaction costs unrelated to securitizations and preferred stock dividends.

The following tables present summarized financial information by reportable segment for the three and nine months ended September 30, 2025, respectively, which in total reconciles to the same data for the Company on a consolidated basis (dollar amounts in thousands):

For the Three Months Ended September 30, 2025Investment PortfolioConstructiveCorporate/OtherTotalTotal net interest income (loss)$45,023 $124 $(8,561)$36,586 Total net loss from real estate(3,878)— — (3,878)Total other income (loss)41,720 12,162 (5,278)48,604 Total general, administrative and operating expenses10,809 16,062 14,954 41,825 Income (loss) from operations before income taxes72,056 (3,776)(28,793)39,