ADAMAS TRUST, INC.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Operating income | $137.8M | -$92.9M | -$77.7M | -$340.1M | $190.9M |
| Operating expenses | $122.9M | $91.7M | $73.5M | $93.3M | $75.6M |
| Cash from operations | $134.0M | $14.1M | $30.0M | $91.8M | $138.9M |
| Capital expenditure | $8.2M | $24.6M | $50.4M | $209.4M | $46.1M |
| Free cash flow | $125.9M | -$10.6M | -$20.5M | -$117.6M | $92.9M |
| Share repurchases | $1.5M | $3.5M | $8.6M | $44.4M | $0 |
| Impairments | — | — | — | $0 | $0 |
| Total assets | $12.6B | $9.2B | $7.4B | $6.2B | $5.7B |
| Total liabilities | $11.2B | $7.8B | $5.8B | $4.4B | $3.2B |
Shares outstanding 89.9M · Free float 90.0%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.