Adamas Trust, Inc. (ADAMN) Financial Statements

Income statement

Metric	TTM	2025	2024	2023
Revenue
Total Revenue	918.5M	805.5M	558.9M	500.8M
Cost of Revenue	311.6M	452.6M	320.6M	192.1M
Gross Profit	607.0M	352.9M	238.3M	308.7M
Operating Expenses
R&D Expense	—	—	—	—
SG&A Expense	95.4M	66.3M	42.8M	44.8M
General & Admin Expense	95.4M	66.3M	42.8M	44.8M
Selling & Marketing Expense	—	—	—	—
Other Expenses	219.2M	148.8M	288.4M	341.6M
Total Operating Expenses	314.6M	215.1M	331.2M	386.4M
Cost and Expenses	626.1M	667.7M	651.8M	578.5M
Operating Income (EBIT)	292.4M	137.8M	(92.9M)	(77.7M)
Non-Operating
Interest Income	695.2M	601.9M	401.3M	258.7M
Interest Expense	519.6M	452.6M	317.4M	192.1M
Net Interest Income	175.6M	149.3M	83.9M	66.5M
Other Non-Op Income/Expense	(258.4M)	—	—	—
Non-Operating Income (excl Interest)	(10.0M)	—	—	—
EBT (Pre-Tax Income)	34.0M	137.8M	(92.9M)	(77.7M)
Income Tax Expense	106.0K	145.0K	1.0M	75.0K
Bottom Line
Net Income	(1.8M)	149.0M	(62.0M)	(48.7M)
Earnings from Cont. Ops	33.9M	137.7M	(94.0M)	(77.8M)
Earnings from Discont. Ops	—	—	—	—
Bottom Line Net Income	(49.1M)	101.1M	(62.0M)	(48.7M)
Per Share
Basic EPS	($0.54)	$1.12	($1.14)	($0.99)
Diluted EPS	($0.57)	$1.10	($1.14)	($0.99)
Revenue Per Share	$10.18	$8.91	$6.15	$5.50
Shares
Basic Shares Outstanding	90.3M	90.4M	90.8M	91.0M
Diluted Shares Outstanding	90.3M	91.5M	90.8M	91.0M
Profitability Metrics
EBITDA	330.4M	177.5M	(32.9M)	(25.6M)
D&A	28.0M	39.7M	60.0M	52.1M
EBIT	302.4M	137.8M	(92.9M)	(77.7M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026