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.<h3>Segment Revenue</h3><ul><li>Investment Portfolio Segment: The investment portfolio segment generated interest income of $431.3 million for the nine months ended September 30, 2025, compared to $283.0 million for the same period in 2024.</li><li>Constructive Segment: Constructive, a wholly-owned subsidiary, originated business purpose loans for residential real estate investors, contributing to the residential loans held for sale, which had a principal balance of $102.4 million as of September 30, 2025.</li></ul><h3>Operational Metrics</h3><ul><li>Net Income: The company reported a net income of $81.3 million for the nine months ended September 30, 2025, compared to a net loss of $63.7 million for the same period in 2024.</li><li>Gross Margin: Total net interest income was $106.1 million for the nine months ended September 30, 2025, compared to $57.1 million for the same period in 2024.</li><li>Operating Profit: Income from operations before income taxes was $81.5 million for the nine months ended September 30, 2025, compared to a loss of $61.1 million for the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Operating Cash Flow: Net cash provided by operating activities was $72.0 million for the nine months ended September 30, 2025, compared to net cash used in operating activities of $15.0 million for the same period in 2024.</li><li>Free Cash Flow: The company reported a net decrease in cash, cash equivalents, and restricted cash of $31.3 million for the nine months ended September 30, 2025.</li></ul><h3>Unique Metrics</h3><ul><li>Residential Loans: The company held residential loans at fair value totaling $4.2 billion as of September 30, 2025, compared to $3.8 billion as of December 31, 2024.</li><li>Investment Securities: Investment securities available for sale were valued at $6.8 billion as of September 30, 2025, compared to $3.8 billion as of December 31, 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>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.</li><li>Non-Core Business: The company has repositioned its business through the opportunistic disposition of its joint venture equity investments in multi-family properties and reallocation of its capital away from such assets to its targeted assets.</li></ul>

ADAMAS TRUST INC. 9.125% NTS 01/04/2030 USD25 | 10-Q: FY2025 Q3 Revenue: USD 228.34 M