ADAMI: the cash flow

Cash Flow Overview

Change in Cash

-$56,179K

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-06-30

2026-03-31

2025-12-31

2025-09-30

Net income

53,051

86,566

56,366

81,291

Net amortization

-6,547

-5,377

-3,214

-13,365

Depreciation expense related to operating real estate

4,486

4,623

5,366

17,759

Realized losses, net

-12,960

-10,680

-14,947

-50,481

Unrealized losses (gains), net

-8,499

-62,568

19,725

197,670

(gains) losses on derivative instruments, net

48,790

87,814

28,471

-86,774

Other (gains) losses, net

-3,500

45,422

8,477

-8,379

Gains on residential loans held for sale, net

9,847

9,216

5,851

8,592

Originations of residential loans held for sale

84,956

161,175

197,206

235,513

Repurchases of residential loans

1,339

2,929

4,738

Proceeds from sales and repayments of residential loans held for sale

156,804

132,493

232,405

217,770

Impairment of real estate

160

2,231

330

9,437

Loss on reclassification of disposal group

Income from preferred equity, mezzanine loan and equity investments

-2,009

7,435

Income from multi-family loans and equity investments

1,450

2,353

Distributions of income from preferred equity, mezzanine loan and equity investments

25,425

Distributions of income from multi-family loans and equity investments

-4,471

-1,589

Stock based compensation expense, net

2,706

175

2,430

5,767

Cash reclassified from assets of disposal group held for sale

-339

-1,612

Changes in operating assets and liabilities

903

14,107

-9,127

-3,109

Net cash provided by operating activities

105,899

-16,714

62,081

71,959

Acquisition of businesses, net of cash and restricted cash acquired

16,733

Proceeds from sales of investment securities

293,348

61,138

663,336

Principal paydowns received on investment securities

334,765

300,126

303,672

392,783

Purchases of investment securities

675,107

422,527

412,150

3,951,844

Principal repayments received on residential loans-Residential Mortgage Loans

325,982

1,102,826

Principal repayments received on residential loans

261,834

292,282

Proceeds from sales of residential loans-Residential Mortgage Loans

4,734

165,116

Proceeds from sales of residential loans

10,083

10,301

Purchases and originations of residential loans-Residential Mortgage Loans

539,111

1,194,262

Purchases and originations of residential loans

583,985

483,242

Principal repayments received on preferred equity and mezzanine loan investments

15,250

14,000

Principal repayments received on multi-family loans

8,500

Return of capital from equity investments

1,570

33,150

Funding of preferred equity, mezzanine loan and equity investments

413

Cash received from initial consolidation of vies

Proceeds from sales of joint venture equity investments in vies

500

Decrease in cash from de-consolidation of consolidated vies

Funding of multi-family loan and equity investments

Net variation margin (paid) received for derivative instruments

70,124

Net variation margin received (paid) for derivative instruments

8,599

-163,777

104,379

Net payments received from derivative instruments

-33,394

-31,620

-542

-24,305

Net proceeds from sale of real estate

26,304

144,520

59,059

142,299

Purchases of and capital expenditures on real estate

8,154

Purchases of investments held in consolidated slst

12,179

Purchases of mortgage servicing rights

Capital expenditures on real estate

849

-5,918

6,887

Purchases of other assets

217

171

674

Net cash used in investing activities

-300,529

-66,992

-148,067

-2,749,056

Net proceeds received from repurchase agreements and warehouse facilities

48,181

265,471

272,254

2,331,955

Proceeds from issuance of senior unsecured notes, net

86,565

193,505

Repayment of senior unsecured notes

100,000

Proceeds from issuance of collateralized debt obligations, net

517,994

308,455

947,788

Repurchases of common stock

5,005

1,502

Proceeds from preferred stock issuance, net

5,027

Repurchases of preferred stock

Dividends paid on common stock and dividend equivalents

20,789

21,414

20,793

54,714

Dividends paid on preferred stock

11,722

11,903

12,137

34,323

Net distributions to non-controlling interests in consolidated vies

-4,613

-21,206

-266

-2,291

Redemptions of redeemable non-controlling interest in consolidated vie

500

Payments made on and extinguishment of collateralized debt obligations

368,785

319,043

58,805

586,071

Payments made on consolidated slst cdos

20,649

18,336

18,289

55,857

Net payments made on mortgages payable on real estate

-1,166

-56,862

-30,815

-97,729

Net cash provided by financing activities

138,451

106,722

130,649

2,645,788

Net decrease in cash, cash equivalents and restricted cash

-56,179

23,016

44,663

-31,309

Cash, cash equivalents and restricted cash - beginning of period

297,715

329,024

Cash, cash equivalents and restricted cash - end of period

309,215

365,394

297,715

Time Plot

Show the time plot by selecting a row from the table.

Cash Flow Overview

Change in Cash

-$56,179K

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-06-30

2026-03-31

2025-12-31

2025-09-30

Net income

53,051

86,566

56,366

81,291

Net amortization

-6,547

-5,377

-3,214

-13,365

Depreciation expense related to operating real estate

4,486

4,623

5,366

17,759

Realized losses, net

-12,960

-10,680

-14,947

-50,481

Unrealized losses (gains), net

-8,499

-62,568

19,725

197,670

(gains) losses on derivative instruments, net

48,790

87,814

28,471

-86,774

Other (gains) losses, net

-3,500

45,422

8,477

-8,379

Gains on residential loans held for sale, net

9,847

9,216

5,851

8,592

Originations of residential loans held for sale

84,956

161,175

197,206

235,513

Repurchases of residential loans

1,339

2,929

4,738

Proceeds from sales and repayments of residential loans held for sale

156,804

132,493

232,405

217,770

Impairment of real estate

160

2,231

330

9,437

Loss on reclassification of disposal group

Income from preferred equity, mezzanine loan and equity investments

-2,009

7,435

Income from multi-family loans and equity investments

1,450

2,353

Distributions of income from preferred equity, mezzanine loan and equity investments

25,425

Distributions of income from multi-family loans and equity investments

-4,471

-1,589

Stock based compensation expense, net

2,706

175

2,430

5,767

Cash reclassified from assets of disposal group held for sale

-339

-1,612

Changes in operating assets and liabilities

903

14,107

-9,127

-3,109

Net cash provided by operating activities

105,899

-16,714

62,081

71,959

Acquisition of businesses, net of cash and restricted cash acquired

16,733

Proceeds from sales of investment securities

293,348

61,138

663,336

Principal paydowns received on investment securities

334,765

300,126

303,672

392,783

Purchases of investment securities

675,107

422,527

412,150

3,951,844

Principal repayments received on residential loans-Residential Mortgage Loans

325,982

1,102,826

Principal repayments received on residential loans

261,834

292,282

Proceeds from sales of residential loans-Residential Mortgage Loans

4,734

165,116

Proceeds from sales of residential loans

10,083

10,301

Purchases and originations of residential loans-Residential Mortgage Loans

539,111

1,194,262

Purchases and originations of residential loans

583,985

483,242

Principal repayments received on preferred equity and mezzanine loan investments

15,250

14,000

Principal repayments received on multi-family loans

8,500

Return of capital from equity investments

1,570

33,150

Funding of preferred equity, mezzanine loan and equity investments

413

Cash received from initial consolidation of vies

Proceeds from sales of joint venture equity investments in vies

500

Decrease in cash from de-consolidation of consolidated vies

Funding of multi-family loan and equity investments

Net variation margin (paid) received for derivative instruments

70,124

Net variation margin received (paid) for derivative instruments

8,599

-163,777

104,379

Net payments received from derivative instruments

-33,394

-31,620

-542

-24,305

Net proceeds from sale of real estate

26,304

144,520

59,059

142,299

Purchases of and capital expenditures on real estate

8,154

Purchases of investments held in consolidated slst

12,179

Purchases of mortgage servicing rights

Capital expenditures on real estate

849

-5,918

6,887

Purchases of other assets

217

171

674

Net cash used in investing activities

-300,529

-66,992

-148,067

-2,749,056

Net proceeds received from repurchase agreements and warehouse facilities

48,181

265,471

272,254

2,331,955

Proceeds from issuance of senior unsecured notes, net

86,565

193,505

Repayment of senior unsecured notes

100,000

Proceeds from issuance of collateralized debt obligations, net

517,994

308,455

947,788

Repurchases of common stock

5,005

1,502

Proceeds from preferred stock issuance, net

5,027

Repurchases of preferred stock

Dividends paid on common stock and dividend equivalents

20,789

21,414

20,793

54,714

Dividends paid on preferred stock

11,722

11,903

12,137

34,323

Net distributions to non-controlling interests in consolidated vies

-4,613

-21,206

-266

-2,291

Redemptions of redeemable non-controlling interest in consolidated vie

500

Payments made on and extinguishment of collateralized debt obligations

368,785

319,043

58,805

586,071

Payments made on consolidated slst cdos

20,649

18,336

18,289

55,857

Net payments made on mortgages payable on real estate

-1,166

-56,862

-30,815

-97,729

Net cash provided by financing activities

138,451

106,722

130,649

2,645,788

Net decrease in cash, cash equivalents and restricted cash

-56,179

23,016

44,663

-31,309

Cash, cash equivalents and restricted cash - beginning of period

297,715

329,024

Cash, cash equivalents and restricted cash - end of period

309,215

365,394

297,715

Time Plot

Show the time plot by selecting a row from the table.