New York Mortgage Trust, Inc. (ADAM) Income Statement
ADAM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsADAM revenue and net income
Where ADAM's revenue goes
2025Each bar shows an amount and its share of revenue. ADAM kept 18.5% of revenue as net income.
ADAM profit margins
ADAM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +44.1% | +80.0% | +40.3% | +7.9% |
| Gross profit | +48.1% | +243.7% | +21.1% | +0.7% |
| Operating income | — | — | — | +5.1% |
| Net income | — | — | — | +6.7% |
| EPS (diluted) | — | — | +14.6% | −9.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ADAM quarterly EPS vs estimates
New York Mortgage beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.30).
ADAM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $805.5M | $558.9M | $500.8M | $138.1M | $380.2M | $148.0M | $751.3M | $467.1M | $418.4M | $349.6M |
| Cost of revenue | $452.6M | $320.6M | $192.1M | $129.4M | $79.3M | $12.3M | $14.7M | $18.6M | $48.1M | $38.5M |
| Gross profit | $352.9M | $238.3M | $308.7M | $8.7M | $300.9M | $135.6M | $736.6M | $448.5M | $370.4M | $311.1M |
| Sales, general & admin | $66.3M | $42.8M | $44.8M | $47.7M | $45.4M | $42.2M | $35.8M | $27.9M | $22.9M | $24.5M |
| Total operating expenses | $215.1M | $331.2M | $386.4M | $348.8M | $110.0M | $202.4M | $563.3M | $348.4M | $278.4M | $244.5M |
| Operating income | $137.8M | −$92.9M | −$77.7M | −$340.1M | $190.9M | −$66.7M | $172.8M | $100.1M | $91.9M | $66.6M |
| Interest income | $601.9M | $401.3M | $258.7M | $258.4M | $206.9M | — | — | — | — | — |
| Interest expense | $452.6M | $317.4M | $192.1M | $129.4M | $79.3M | $223.1M | $566.8M | $377.1M | $282.8M | $236.9M |
| Income before taxes | $137.8M | −$92.9M | −$77.7M | −$340.1M | $190.9M | −$287.3M | $172.5M | $103.7M | $91.9M | $70.7M |
| Income taxes | $145,000 | $1.0M | $75,000 | $542,000 | $2.5M | $981,000 | $419,000 | $1.1M | $3.4M | $3.1M |
| Net income | $149.0M | −$62.0M | −$48.7M | −$298.6M | $193.2M | −$288.5M | $173.7M | $102.9M | $92.0M | $67.6M |
| EBITDA | $177.5M | −$32.9M | −$25.6M | −$187.1M | $242.3M | −$66.7M | $739.2M | $480.8M | $374.7M | $307.6M |
| EPS (diluted) | $1.01 | −$1.07 | −$0.99 | −$3.21 | $1.34 | $0.51 | $2.56 | $2.42 | $2.01 | $1.73 |
| Gross margin | 43.8% | 42.6% | 61.6% | 6.3% | 79.1% | 91.7% | 98.0% | 96.0% | 88.5% | 89.0% |
| Operating margin | 17.1% | −16.6% | −15.5% | −246.3% | 50.2% | −45.1% | 23.0% | 21.4% | 22.0% | 19.1% |
| Net margin | 18.5% | −11.1% | −9.7% | −216.2% | 50.8% | −195.0% | 23.1% | 22.0% | 22.0% | 19.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $227.7M | $266.8M | $235.6M | $226.5M | $156.8M | $187.2M | $129.6M | $134.6M | $129.7M | $115.6M | $80.2M | $104.4M |
| Cost of revenue | $33.1M | $123.7M | $127.5M | $124.0M | $104.5M | $96.6M | $91.5M | $88.1M | $71.7M | $69.2M | $62.0M | $61.5M |
| Gross profit | $194.6M | $143.1M | $108.1M | $102.5M | $52.4M | $90.5M | $38.0M | $93.7M | $53.1M | $53.4M | $18.2M | $42.8M |
| Sales, general & admin | $25.6M | $22.6M | $22.9M | $21.6M | $10.5M | $11.2M | $10.5M | $10.7M | $10.2M | $11.4M | $8.8M | $11.8M |
| Total operating expenses | $13.7M | $56.4M | $51.8M | $63.0M | $48.1M | $52.8M | $69.8M | $50.9M | $76.9M | $133.6M | −$83.5M | $46.4M |
| Operating income | $180.9M | $86.7M | $56.3M | $39.5M | $4.3M | $37.7M | −$31.8M | $118.8M | $50.4M | $39.3M | $101.7M | −$3.5M |
| Interest income | $174.4M | $172.1M | $170.7M | $160.6M | $140.9M | $129.7M | $118.3M | $108.4M | $90.8M | — | — | — |
| Interest expense | $127.1M | $123.7M | $127.5M | $124.0M | $104.5M | $96.6M | $91.5M | $88.1M | $71.7M | $66.0M | $62.0M | $48.4M |
| Income before taxes | $53.1M | $86.7M | $56.3M | $39.5M | $4.3M | $37.7M | −$31.8M | $42.8M | −$23.7M | −$80.2M | $32.9M | −$93.9M |
| Income taxes | $13,000 | $159,000 | −$44,000 | −$298,000 | −$161,000 | $648,000 | −$1.5M | $2.3M | $342,000 | −$111,000 | $134,000 | $56,000 |
| Net income | $55.2M | $48.6M | $53.5M | $44.8M | $8.5M | $42.2M | −$31.4M | $42.8M | −$15.6M | −$57.9M | $41.9M | −$84.5M |
| EBITDA | $185.0M | $96.7M | $64.9M | $49.9M | $14.4M | $48.4M | −$19.4M | $56.6M | −$4.8M | $51.9M | $107.9M | −$39.3M |
| EPS (diluted) | $0.30 | $0.29 | $0.23 | $0.36 | $0.22 | $0.20 | −$0.46 | $0.36 | −$0.29 | −$0.68 | $0.35 | −$1.04 |
| Gross margin | 85.5% | 53.6% | 45.9% | 45.2% | 33.4% | 48.4% | 29.4% | 69.6% | 40.9% | 46.2% | 22.7% | 41.0% |
| Operating margin | 79.4% | 32.5% | 23.9% | 17.4% | 2.7% | 20.1% | −24.5% | 88.3% | 38.8% | 34.0% | 126.9% | −3.4% |
| Net margin | 24.2% | 18.2% | 22.7% | 19.8% | 5.4% | 22.5% | −24.2% | 31.8% | −12.0% | −50.1% | 52.3% | −81.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ADAM's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ADAM financial results
In fiscal year 2025 (ended December 31, 2025), New York Mortgage reported revenue of $805.5 million, up 44.1% from the year before. It had net income of $149.0 million, a net profit margin of 18.5%. Diluted earnings per share came to $1.01. Over five years revenue grew at an average rate of 40.3% a year.
See the ADAM stock overview for the latest quote and news, or the ADAM chart for price history and technical indicators.
ADAM income statement FAQ
What is New York Mortgage's annual revenue?
New York Mortgage reported total revenue of $805.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 44.1% from $558.9 million the previous year.
Is New York Mortgage profitable?
Yes. New York Mortgage reported net income of $149.0 million in fiscal 2025, a net profit margin of 18.5%; its operating margin was 17.1%.
What is New York Mortgage's gross margin?
New York Mortgage's gross margin was 43.8% in fiscal 2025: for every $100 of revenue, New York Mortgage kept $44 after the direct cost of its products and services.
How fast is New York Mortgage growing?
Revenue grew 40.3% a year on average over the last five fiscal years, from $148.0 million to $805.5 million.
What are New York Mortgage's earnings per share?
New York Mortgage earned $1.01 per diluted share in fiscal 2025, compared with $-1.07 a year earlier.
When will New York Mortgage report its next earnings?
New York Mortgage is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does New York Mortgage's fiscal year end?
New York Mortgage's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.