--- title: "ADAMAS TRUST INC. 8% SERIS D FXD TO FLOTIG RTE CUM RED PRE | 10-Q: FY2025 Q3 Revenue: USD 228.34 M" type: "news" locale: "en" url: "https://longbridge.com/en/news/264297321.md" published_at: "2025-11-04T22:20:09.000Z" --- # 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. ### Segment Revenue - **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. ### Operational Metrics - **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. ### Cash Flow - **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. ### Unique Metrics - **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. ### Future Outlook and Strategy - **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. ### Related Stocks - [ADAMN.US - ADAMAS TRUST INC. 8% SERIS D FXD TO FLOTIG RTE CUM RED PRE](https://longbridge.com/en/quote/ADAMN.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Adamas Trust Inc. 宣佈 2025 年股息分配的税務處理方案 | Adamas Trust Inc. 宣佈了其 2025 年普通股和優先股股息分配的税務處理，表示股息的任何部分都不會被視為超額包含收入。2026 年 1 月宣佈的現金分配將在聯邦所得税方面被視為 2026 年的分配 | [Link](https://longbridge.com/en/news/274358419.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.