Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 113

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 113
---
— 69,523 Total net loss from real estate(9,126)— — (9,126)OTHER INCOME:Realized losses, net(50,481)— — (50,481)Unrealized gains, net197,450 — 220 197,670 (Losses) gains on derivative instruments, net(87,995)(1,941)3,162 (86,774)Mortgage banking activities, net— 14,103 — 14,103 Income (loss) from equity investments2,121 — (1,554)567 Impairment of real estate(9,437)— — (9,437)Other income 5,644 — — 5,644 Total other income 57,302 12,162 1,828 71,292 GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:General and administrative expenses 1,277 12,274 33,998 47,549 Portfolio operating expenses20,040 — 1,267 21,307 Loan origination costs— 3,788 — 3,788 Financing transaction costs6,589 — 7,584 14,173 Total general, administrative and operating expenses27,906 16,062 42,849 86,817 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES146,257 (3,776)(61,001)81,480 Income tax expense26 — 163 189 NET INCOME (LOSS)146,231 (3,776)(61,164)81,291 Net loss attributable to non-controlling interests14,231 — — 14,231 NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY160,462 (3,776)(61,164)95,522 Preferred stock dividends— — (36,021)(36,021)NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$160,462 $(3,776)$(97,185)$59,501 

88

The following table presents the Company's assets by reportable segment as of September 30, 2025, which in total reconciles to the same data for the Company on a consolidated basis (dollar amounts in thousands):Investment Portfolio (1)Construct