Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 111

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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 were a single reportable segment.  Accordingly, segment information for prior periods has not been recast.  For the three and nine months ended September 30, 2024, the CODM also considered significant, and regularly reviewed, consolidated salaries and benefits expense in the amounts of approximately $8.4 million and $25.2 million, respectively, which is included in general and administrative expenses in the accompanying condensed consolidated statements of operations.

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The following tables present 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/OtherTotalNET INTEREST INCOME:Interest income$158,421 $2,192 $20 $160,633 Interest expense113,398 2,068 8,581 124,047 Total net interest income (loss)45,023 124 (8,561)36,586 NET LOSS FROM REAL ESTATE:Rental income16,600 — — 16,600 Other real estate income2,504 — — 2,504 Total income from real estate19,104 — — 19,104 Interest expense, mortgages payable on real estate5,409 — — 5,409 Depreciation and amortization5,936 — — 5,936 Other real estate expenses11,637 — — 11,637 Total expenses related to real estate22,982 — — 22,982 Total net loss from real estate(3,878)— — (3,878)OTHER INCOME (LOSS):Realized losses, net(5,610)— — (5,610)Unrealized gains (losses), net60,024 — (5,172)54,852 Loss on derivative instruments, net(10,912)(1,941)(153)(13,006)Mortgage banking activities, net— 14,103 — 14,103 (Loss) income from equity investments(1,642)— 47 (1,595)Impairment of real estate(1,619)— — (1,619)Other income (loss)1,479 —