Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 1

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 1
---
 Entities13,382 12,359 Stockholders' Equity:  Preferred stock, par value $0.01 per share, 31,500,000 shares authorized, 22,164,414 shares issued and outstanding ($554,110 aggregate liquidation preference)535,445 535,445 Common stock, par value $0.01 per share, 200,000,000 shares authorized, 90,529,421 and 90,574,996 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively905 906 Additional paid-in capital2,284,569 2,289,044 Accumulated other comprehensive loss— — Accumulated deficit(1,418,973)(1,430,675)Company's stockholders' equity1,401,946 1,394,720 Non-controlling interests2,984 4,055 Total equity1,404,930 1,398,775 Total Liabilities and Equity$10,004,055 $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 March 31, 2025 and December 31, 2024, assets of consolidated VIEs totaled $4,222,979 and $3,988,584, respectively, and the liabilities of consolidated VIEs totaled $3,679,092 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 EndedMarch 31,20252024NET INTEREST INCOME:  Interest income$129,734 $83,892 Interest expense96,636 66,029 Total net interest income33,098 17,863 NET LOSS FROM REAL ESTATE:Rental income17,534 33,153 Other real estate income3,121 4,923 Total income from real estate20,655 38,076 Interest expense, mortgages payable on real estate