ADAMAS TRUST, INC. Earnings Per Share Disclosure
| For the Years Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
Basic Earnings (Loss) per Common Share: | ||||||||||||||||||||
Net income (loss) attributable to Company | $ | 149,048 | $ | (62,029) | $ | (48,665) | ||||||||||||||
| Less: Preferred Stock dividends | (47,942) | (41,756) | (41,837) | |||||||||||||||||
| Plus: Gain on repurchase of Preferred Stock | — | — | 467 | |||||||||||||||||
Net income (loss) attributable to Company’s common stockholders | $ | 101,106 | $ | (103,785) | $ | (90,035) | ||||||||||||||
Basic weighted average common shares outstanding | 90,427 | 90,815 | 91,042 | |||||||||||||||||
Basic Earnings (Loss) per Common Share | $ | 1.12 | $ | (1.14) | $ | (0.99) | ||||||||||||||
Diluted Earnings (Loss) per Common Share: | ||||||||||||||||||||
Net income (loss) attributable to Company | $ | 149,048 | $ | (62,029) | $ | (48,665) | ||||||||||||||
| Less: Preferred Stock dividends | (47,942) | (41,756) | (41,837) | |||||||||||||||||
| Plus: Gain on repurchase of Preferred Stock | — | — | 467 | |||||||||||||||||
Net income (loss) attributable to Company’s common stockholders | $ | 101,106 | $ | (103,785) | $ | (90,035) | ||||||||||||||
Weighted average common shares outstanding | 90,427 | 90,815 | 91,042 | |||||||||||||||||
Net effect of assumed PSUs vested | 768 | — | — | |||||||||||||||||
Net effect of assumed RSUs and DSUs vested | 315 | — | — | |||||||||||||||||
Diluted weighted average common shares outstanding | 91,510 | 90,815 | 91,042 | |||||||||||||||||
Diluted Earnings (Loss) per Common Share | $ | 1.10 | $ | (1.14) | $ | (0.99) | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 25, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 25, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.