Adamas Trust (ADAM) Financial Statements & Analysis

Adamas Trust (ADAM) Income Statement

Adamas Trust reported revenue of $805.53M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 1864.0% from $41.01M a year earlier. Net income was $149.05M, a net margin of 18.5%. Gross margin was 43.8% and operating margin 17.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $105.07M, up 214.3% from the same quarter a year earlier.

Adamas Trust Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Adamas Trust, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	805.53	41.01	500.80	15.39	110.00	147.98	751.34	467.12	418.42
Cost of Revenue	452.65	320.63	192.13	129.42	79.28	12.34	14.70	18.60	48.06
Gross Profit	352.88	238.28	308.67	8.69	300.91	135.64	736.64	448.52	370.35
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	66.29	48.67	44.82	52.44	48.91	42.23	35.79	27.87	22.87
Operating Expenses	215.08	331.20	386.39	348.80	109.97	202.39	563.26	348.42	278.43
Operating Income	137.80	-51.53	-77.72	-360.95	187.38	-66.75	172.77	100.10	91.92
Other Income/Expense
Interest Income	601.95	401.28	258.66	258.39	206.87	350.16	694.61	455.80	365.82
Interest Expense	452.65	317.43	192.13	129.42	79.28	223.07	566.75	377.07	282.76
Other Income/Expense	0.00	0.00	0.00	0.00	-26.67	-220.52	-0.29	3.64	0.00
Income
Income Before Tax	137.80	-92.92	-77.72	-340.11	190.93	-287.26	172.48	103.74	91.92
Income Tax Expense	0.15	1.04	0.08	0.54	2.46	0.98	0.42	1.06	3.36
Net Income	149.05	-103.79	-48.67	-340.72	144.18	-288.51	173.74	102.89	91.98
Net Income - Continuous Operations	149.05	-93.95	-48.67	-298.61	188.48	-288.51	173.74	102.89	91.98
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	177.51	60.04	-25.60	152.96	51.39	-66.75	739.23	480.81	374.68
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	39.70	39.82	52.12	152.96	19.25	0.00	0.00	0.00	0.00
Earnings Per Share
Basic EPS	1.00	-1.00	-1.00	-4.00	2.00	-4.00	3.00	2.00	3.00
Diluted EPS	1.00	-1.00	-1.00	-4.00	2.00	-4.00	3.00	2.00	3.00
Basic Shares Outstanding	90.43	90.82	91.04	94.32	94.81	92.75	55.35	31.81	27.96
Diluted Shares Outstanding	91.51	90.82	91.04	94.32	95.24	92.75	60.65	36.86	32.59

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Adamas Trust Financial Statements

What was Adamas Trust's revenue in fiscal 2025?

Adamas Trust reported revenue of $805.53M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 1864.0% from $41.01M a year earlier.

Is Adamas Trust profitable?

Yes. Adamas Trust earned net income of $149.05M in fiscal 2025, a net margin of 18.5%. In fiscal 2024 it lost $103.78M.

What is Adamas Trust's operating margin?

Adamas Trust's operating income was $137.80M on revenue of $805.53M in fiscal 2025, an operating margin of 17.1%, compared with -125.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition