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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and C3.ai, Inc. (AI). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $43.2M, roughly 1.7× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -139.3%, a 263.3% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -20.3%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-46.9M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
ADAM vs AI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $75.1M |
| Net Profit | $53.5M | $-104.7M |
| Gross Margin | — | 40.4% |
| Operating Margin | — | -149.2% |
| Net Margin | 124.0% | -139.3% |
| Revenue YoY | 61.6% | -20.3% |
| Net Profit YoY | 270.5% | -58.7% |
| EPS (diluted) | $0.45 | $-0.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.2M | $75.1M | ||
| Q3 25 | $36.6M | $70.3M | ||
| Q2 25 | $36.4M | $108.7M | ||
| Q1 25 | $33.1M | $98.8M | ||
| Q4 24 | $26.7M | $94.3M | ||
| Q3 24 | $20.2M | $87.2M | ||
| Q2 24 | $19.0M | $86.6M | ||
| Q1 24 | $17.9M | $78.4M |
| Q4 25 | $53.5M | $-104.7M | ||
| Q3 25 | $44.8M | $-116.8M | ||
| Q2 25 | $8.5M | $-79.7M | ||
| Q1 25 | $42.2M | $-80.2M | ||
| Q4 24 | $-31.4M | $-66.0M | ||
| Q3 24 | $42.8M | $-62.8M | ||
| Q2 24 | $-15.6M | $-72.9M | ||
| Q1 24 | $-57.9M | $-72.6M |
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 62.1% | ||
| Q1 25 | — | 59.1% | ||
| Q4 24 | — | 61.3% | ||
| Q3 24 | — | 59.8% | ||
| Q2 24 | — | 59.6% | ||
| Q1 24 | — | 57.8% |
| Q4 25 | — | -149.2% | ||
| Q3 25 | — | -177.7% | ||
| Q2 25 | 11.7% | -81.8% | ||
| Q1 25 | — | -88.7% | ||
| Q4 24 | -119.0% | -79.8% | ||
| Q3 24 | — | -83.2% | ||
| Q2 24 | -124.7% | -95.1% | ||
| Q1 24 | -448.8% | -105.3% |
| Q4 25 | 124.0% | -139.3% | ||
| Q3 25 | 122.5% | -166.2% | ||
| Q2 25 | 23.4% | -73.3% | ||
| Q1 25 | 127.4% | -81.2% | ||
| Q4 24 | -117.5% | -69.9% | ||
| Q3 24 | 211.7% | -72.0% | ||
| Q2 24 | -81.9% | -84.2% | ||
| Q1 24 | -324.1% | -92.6% |
| Q4 25 | $0.45 | $-0.75 | ||
| Q3 25 | $0.36 | $-0.86 | ||
| Q2 25 | $-0.04 | $-0.60 | ||
| Q1 25 | $0.33 | $-0.62 | ||
| Q4 24 | $-0.46 | $-0.52 | ||
| Q3 24 | $0.36 | $-0.50 | ||
| Q2 24 | $-0.29 | $-0.59 | ||
| Q1 24 | $-0.75 | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | $675.0M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $771.9M |
| Total Assets | $12.6B | $961.3M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $675.0M | ||
| Q3 25 | $185.3M | $711.9M | ||
| Q2 25 | $160.4M | $742.7M | ||
| Q1 25 | $177.1M | $724.3M | ||
| Q4 24 | $167.4M | $730.4M | ||
| Q3 24 | $195.1M | $762.5M | ||
| Q2 24 | $235.5M | $750.4M | ||
| Q1 24 | $226.9M | $723.3M |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $771.9M | ||
| Q3 25 | $1.4B | $798.8M | ||
| Q2 25 | $1.4B | $838.3M | ||
| Q1 25 | $1.4B | $860.2M | ||
| Q4 24 | $1.4B | $859.0M | ||
| Q3 24 | $1.4B | $874.9M | ||
| Q2 24 | $1.4B | $873.4M | ||
| Q1 24 | $1.5B | $898.0M |
| Q4 25 | $12.6B | $961.3M | ||
| Q3 25 | $12.4B | $968.7M | ||
| Q2 25 | $10.6B | $1.0B | ||
| Q1 25 | $10.0B | $1.1B | ||
| Q4 24 | $9.2B | $1.0B | ||
| Q3 24 | $8.9B | $1.1B | ||
| Q2 24 | $8.2B | $1.0B | ||
| Q1 24 | $7.4B | $1.1B |
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.67× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $134.0M | $-46.5M |
| Free Cash FlowOCF − Capex | $125.9M | $-46.9M |
| FCF MarginFCF / Revenue | 291.6% | -62.4% |
| Capex IntensityCapex / Revenue | 18.9% | 0.5% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-93.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-46.5M | ||
| Q3 25 | $6.9M | $-33.5M | ||
| Q2 25 | $39.2M | $11.3M | ||
| Q1 25 | $25.8M | $-22.0M | ||
| Q4 24 | $14.1M | $-38.7M | ||
| Q3 24 | $-922.0K | $8.0M | ||
| Q2 24 | $-993.0K | $21.3M | ||
| Q1 24 | $-13.1M | $-39.1M |
| Q4 25 | $125.9M | $-46.9M | ||
| Q3 25 | — | $-34.3M | ||
| Q2 25 | — | $10.3M | ||
| Q1 25 | — | $-22.4M | ||
| Q4 24 | $-10.6M | $-39.5M | ||
| Q3 24 | $-8.6M | $7.1M | ||
| Q2 24 | $-8.6M | $18.8M | ||
| Q1 24 | $-19.1M | $-45.1M |
| Q4 25 | 291.6% | -62.4% | ||
| Q3 25 | — | -48.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | -22.7% | ||
| Q4 24 | -39.6% | -41.9% | ||
| Q3 24 | -42.3% | 8.2% | ||
| Q2 24 | -44.9% | 21.7% | ||
| Q1 24 | -107.0% | -57.6% |
| Q4 25 | 18.9% | 0.5% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 92.3% | 0.9% | ||
| Q3 24 | 37.7% | 1.1% | ||
| Q2 24 | 39.7% | 2.9% | ||
| Q1 24 | 33.5% | 7.8% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
