For the year ending 2025-12-31, ADAM had $13,354K increase in cash & cash equivalents over the period. $125,886K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net income (loss) | 137,657 |
| Net amortization | -16,579 |
| Depreciation and amortization expense related to operating real estate | 23,125 |
| Realized losses, net | -65,428 |
| Unrealized (gains) losses, net | 217,395 |
| Losses (gains) on derivative investments, net | -58,303 |
| Other gains, net | 98 |
| Gains on residential loans held for sale, net | 14,443 |
| Originations of residential loans held for sale | 432,719 |
| Repurchases of residential loans | 4,738 |
| Proceeds from sales and repayments of residential loans held for sale | 450,175 |
| Impairment of real estate | 9,767 |
| Loss on reclassification of disposal group | 0 |
| Income from preferred equity, mezzanine loan and equity investments | 5,426 |
| Distributions of income from preferred equity, mezzanine loan and equity investments | 25,441 |
| Stock based compensation expense, net | 8,197 |
| Cash reclassified from assets of disposal group held for sale | -1,951 |
| Changes in operating assets and liabilities | -12,236 |
| Net cash provided by operating activities | 134,040 |
| Acquisition of businesses, net of cash and restricted cash acquired | 16,733 |
| Proceeds from sales of investment securities | 724,474 |
| Principal paydowns received on investment securities | 696,455 |
| Purchases of investment securities | 4,363,994 |
| Principal repayments received on residential loans-Residential Mortgage Loans | 1,428,808 |
| Proceeds from sales of residential loans-Residential Mortgage Loans | 169,850 |
| Purchases and originations of residential loans-Residential Mortgage Loans | 1,733,373 |
| Principal repayments received on preferred equity and mezzanine loan investments | 29,250 |
| Return of capital from equity investments | 33,150 |
| Funding of preferred equity, mezzanine loan and equity investments | 413 |
| Cash received from initial consolidation of vies | 0 |
| Proceeds from sales of joint venture equity investments in vies | 500 |
| Decrease in cash from de-consolidation of consolidated vies | 0 |
| Net variation margin (paid) received for derivative instruments | 70,124 |
| Net payments received from derivative instruments | -24,847 |
| Net proceeds from sale of real estate | 201,358 |
| Purchases of and capital expenditures on real estate | 8,154 |
| Purchases of investments held in consolidated slst | 12,179 |
| Purchases of mortgage servicing rights | 0 |
| Purchases of other assets | 845 |
| Net cash used in investing activities | -2,897,123 |
| Net proceeds received from repurchase agreements and warehouse facilities | 2,604,209 |
| Proceeds from issuance of senior unsecured notes, net | 193,505 |
| Proceeds from issuance of collateralized debt obligations, net | 947,788 |
| Repurchases of common stock | 1,502 |
| Proceeds from preferred stock issuance, net | 5,027 |
| Repurchases of preferred stock | 0 |
| Dividends paid on common stock and dividend equivalents | 75,507 |
| Dividends paid on preferred stock | 46,460 |
| Net distributions to non-controlling interests in consolidated vies | -2,557 |
| Redemptions of redeemable non-controlling interest in consolidated vie | 500 |
| Payments made on and extinguishment of collateralized debt obligations | 644,876 |
| Payments made on consolidated slst cdos | 74,146 |
| Net payments made on mortgages payable on real estate | -128,544 |
| Net cash provided by financing activities | 2,776,437 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 13,354 |
ADAMAS TRUST, INC. (ADAM)
ADAMAS TRUST, INC. (ADAM)