Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 97

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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 9,545 3,302 Subordinated debentures955 1,071 1,905 2,144 Total interest expense104,454 71,731 201,091 137,759 Net interest income$36,447 $19,044 $69,545 $36,907 

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23.      Other Income (Loss)The following table details the components of the Company's other income (loss) for the three and six months ended June 30, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024Servicing fee income$1,973 $— $3,953 $— (Loss) gain on sale of real estate (1)(19)127 $(64)$261 Preferred equity and mezzanine loan premiums resulting from early redemption— — — 98 Gain on de-consolidation of joint venture equity investment in Consolidated VIEs— 261 — 311 Loss on extinguishment of collateralized debt obligations and mortgages payable on real estate— — — (692)Provision for uncollectible receivables (2)— — — (3,207)Miscellaneous income246 27 278 54 Total other income (loss)$2,200 $415 $4,167 $(3,175)(1)See Notes 8 and 9 for description of nature of transactions out of which items arose.(2)During the six months ended June 30, 2024, the Company recorded a provision for uncollectible receivables for asset management expenses incurred related to a non-accrual multi-family loan that are in excess of anticipated redemption proceeds (see Note 5).

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24.      Segment ReportingThe Company is in the business of acquiring, investing in, financing and managing primarily mortgage-related residential assets (the “investment portfolio”) in the United States and derives its revenues from management of the investment portfolio. The Company’s chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer. The operating results of the Company’s investment portfolio, which includes residential loans, investment securities, multi-family loans and equity investments, including joint venture equity investments in multi-family properties, are regularly reviewed, in the aggregate, by the CODM based upon total assets reported on the