Adamas Trust (ADAM) Operating Expenses (2010 - 2026)
Adamas Trust (ADAM) recorded Operating Expenses of $40.01 million in Q2 2026, up 101.2% from $19.89 million a year earlier and unchanged from the prior quarter.
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Analysis
Adamas Trust (ADAM) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Adamas Trust's Operating Expenses came in at $157.99 million as of Jun 30, 2026, up 78.0% year-over-year; for FY2025, it came in at $122.94 million, up 34.1% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 17.6% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $91.7 million in FY2024 (+24.7%), $73.52 million in FY2023 (-21.2%), $93.33 million in FY2022 (+23.5%) and $75.58 million in FY2021 (+38.5%).
- Quarterly Operating Expenses has ranged from $5.21 million in Q4 2021 to $109.78 million in Q2 2022 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for four consecutive quarters, with growth averaging 44.5% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 374.8% in Q2 2022, against a decline of 82.7% in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $40.03 million (Q1 2026), $36.12 million (Q4 2025) and $41.83 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.90 Bn | 29.58 Bn | - | 2.50 Bn |
| 2 | Orix | 42.96 Bn | 43.46 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 33.48 Bn | 33.39 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 23.94 Bn | 23.94 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.37 Bn | 17.06 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.31 Bn | -44.66 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 20.23 Bn | 19.45 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 15.24 Bn | 6.34 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.90 Bn | 11.34 Bn | - | - |
| 10 | Adamas Trust | 712.75 Mn | -107.09 Mn | - | 40.01 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.01 Mn |
| Mar 31, 2026 | 40.03 Mn |
| Dec 31, 2025 | 36.12 Mn |
| Sep 30, 2025 | 41.83 Mn |
| Jun 30, 2025 | 19.89 Mn |
| Mar 31, 2025 | 25.10 Mn |
| Dec 31, 2024 | 20.93 Mn |
| Sep 30, 2024 | 22.83 Mn |
| Jun 30, 2024 | 23.60 Mn |
| Mar 31, 2024 | 24.34 Mn |
| Dec 31, 2023 | 17.81 Mn |
| Sep 30, 2023 | 16.99 Mn |
| Jun 30, 2023 | 18.97 Mn |
| Mar 31, 2023 | 19.75 Mn |
| Dec 31, 2022 | 21.88 Mn |
| Sep 30, 2022 | 21.73 Mn |
| Jun 30, 2022 | 109.78 Mn |
| Mar 31, 2022 | 78.99 Mn |
| Dec 31, 2021 | 5.21 Mn |
| Sep 30, 2021 | 28.05 Mn |
API Access
Adamas Trust Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ADAM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ADAM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ADAM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();