ADAMAS TRUST, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $149.0M | $-62.0M | $-48.7M | $-298.6M | $193.2M | $-288.5M | $173.7M | $102.9M |
| Depreciation & Amortization | $23.1M | $39.8M | $24.6M | $126.8M | $19.3M | $386.0K | — | — |
| Depreciation | — | — | — | — | $5.7M | $200.0K | $0 | — |
| Amortization | $0 | $2.4M | $0 | $79.6M | $13.6M | — | — | — |
| Stock-Based Compensation | $8.2M | $6.1M | $8.8M | $11.9M | $10.2M | $9.9M | $5.4M | $2.6M |
| Net Cash from Operating Activities | $134.0M | $14.1M | $30.0M | $91.8M | $138.9M | $110.8M | $35.1M | $24.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $8.2M | $24.6M | $50.4M | $209.4M | $46.1M | $206.0K | $128.0K | $457.0K |
| Business Acquisitions | $16.7M | $0 | $0 | — | — | — | — | $0 |
| Net Cash from Investing Activities | $-2.90B | $-2.24B | $-1.22B | $-508.8M | $-132.9M | $2.12B | $-769.1M | $-642.5M |
| Financing Activities | ||||||||
| Dividends Paid | $75.5M | $74.9M | $128.8M | $151.8M | $151.6M | $105.5M | $163.4M | $97.9M |
| Stock Repurchases | $1.5M | $3.5M | $8.6M | $44.4M | $0 | $0 | — | — |
| Net Cash from Financing Activities | $2.78B | $2.23B | $1.14B | $460.1M | $27.4M | $-2.05B | $746.4M | $621.2M |
| Net Change in Cash | $13.4M | $-1.6M | $-50.3M | $43.1M | $33.4M | $182.9M | $12.5M | $3.0M |
| Free Cash Flow | $125.9M | $-10.6M | $-20.5M | $-117.6M | $92.9M | $110.5M | $35.0M | $23.7M |