ADAMAS TRUST INC. 8% SERIS D FXD TO FLOTIG RTE CUM RED PRE | 10-Q: FY2025 Q3 Revenue: USD 228.34 M

Revenue: As of FY2025 Q3, the actual value is USD 228.34 M.

EPS: As of FY2025 Q3, the actual value is USD 0.36.

EBIT: As of FY2025 Q3, the actual value is USD 2.901 M.

Investment Portfolio Segment: Revenue from investment securities available for sale was $6,838.7 million as of September 30, 2025, compared to $3,828.5 million as of December 31, 2024.
Constructive Segment: Revenue from residential loans held for sale was $105.0 million as of September 30, 2025.

Net Income: The net income attributable to the company for the nine months ended September 30, 2025, was $95.5 million, compared to a net loss of $30.6 million for the same period in 2024.
Gross Margin: Total net interest income for the nine months ended September 30, 2025, was $106.1 million, compared to $57.1 million for the same period in 2024.
Operating Profit: Income from operations before income taxes for the nine months ended September 30, 2025, was $81.5 million, compared to a loss of $61.1 million for the same period in 2024.
Operating Margin: Operating margin improved significantly, with net income attributable to the company’s common stockholders for the nine months ended September 30, 2025, being $59.5 million, compared to a loss of $62.0 million for the same period in 2024.
Operating Costs: General, administrative, and operating expenses for the nine months ended September 30, 2025, were $86.8 million, compared to $70.8 million for the same period in 2024.

Operating Cash Flow: Net cash provided by operating activities for the nine months ended September 30, 2025, was $72.0 million, compared to net cash used in operating activities of $15.0 million for the same period in 2024.
Free Cash Flow: Free cash flow was - $2,749.1 million for the nine months ended September 30, 2025, compared to - $1,660.2 million for the same period in 2024.

Residential Loans: The fair value of residential loans was $4,151.6 million as of September 30, 2025, compared to $3,841.7 million as of December 31, 2024.
Multi-Family Loans: The fair value of multi-family loans was $68.6 million as of September 30, 2025, compared to $86.2 million as of December 31, 2024.
Equity Investments: The fair value of equity investments was $28.8 million as of September 30, 2025, compared to $113.5 million as of December 31, 2024.

Core Business Focus: The company plans to continue strategically deploying capital across complementary businesses to generate durable earnings and long-term value for stockholders through disciplined portfolio management and an operating platform designed to capture opportunities across real estate and capital markets.
Non-Core Business: The company has completed its disposition of the real property held by its joint venture equity investments in multi-family properties and will reallocate its capital away from such assets to its targeted assets.
Priority: The company aims to maintain its REIT status by distributing at least 90% of its REIT taxable income to its stockholders and complying with various other requirements.