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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Boxlight Corp (BOXL). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $29.3M, roughly 1.5× Boxlight Corp). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -21.1%, a 145.1% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -19.2%). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -23.1%).
Boxlight Corp is a global provider of interactive technology solutions, including interactive flat panel displays, projectors, collaborative software, and classroom technology accessories. It primarily serves K-12 and higher education institutions, as well as corporate and government customers across North America, Europe, and Asia Pacific, focusing on enhancing learning and work collaboration efficiency.
ADAM vs BOXL — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $29.3M |
| Net Profit | $53.5M | $-6.2M |
| Gross Margin | — | 29.1% |
| Operating Margin | — | -13.4% |
| Net Margin | 124.0% | -21.1% |
| Revenue YoY | 61.6% | -19.2% |
| Net Profit YoY | 270.5% | -102.0% |
| EPS (diluted) | $0.45 | $-1.88 |
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 | — | ||
| Q3 25 | $36.6M | $29.3M | ||
| Q2 25 | $36.4M | $30.9M | ||
| Q1 25 | $33.1M | — | ||
| Q4 24 | $26.7M | $24.0M | ||
| Q3 24 | $20.2M | $36.3M | ||
| Q2 24 | $19.0M | $38.5M | ||
| Q1 24 | $17.9M | $37.1M |
| Q4 25 | $53.5M | — | ||
| Q3 25 | $44.8M | $-6.2M | ||
| Q2 25 | $8.5M | $-4.7M | ||
| Q1 25 | $42.2M | — | ||
| Q4 24 | $-31.4M | $-16.7M | ||
| Q3 24 | $42.8M | $-3.1M | ||
| Q2 24 | $-15.6M | $-1.5M | ||
| Q1 24 | $-57.9M | $-7.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | 29.1% | ||
| Q2 25 | — | 35.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 30.6% | ||
| Q3 24 | — | 33.8% | ||
| Q2 24 | — | 37.7% | ||
| Q1 24 | — | 34.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | -13.4% | ||
| Q2 25 | 11.7% | -12.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | -119.0% | -67.6% | ||
| Q3 24 | — | -2.4% | ||
| Q2 24 | -124.7% | 3.2% | ||
| Q1 24 | -448.8% | -9.7% |
| Q4 25 | 124.0% | — | ||
| Q3 25 | 122.5% | -21.1% | ||
| Q2 25 | 23.4% | -15.3% | ||
| Q1 25 | 127.4% | — | ||
| Q4 24 | -117.5% | -69.6% | ||
| Q3 24 | 211.7% | -8.4% | ||
| Q2 24 | -81.9% | -3.8% | ||
| Q1 24 | -324.1% | -19.1% |
| Q4 25 | $0.45 | — | ||
| Q3 25 | $0.36 | $-1.88 | ||
| Q2 25 | $-0.04 | $-1.53 | ||
| Q1 25 | $0.33 | — | ||
| Q4 24 | $-0.46 | $-87.29 | ||
| Q3 24 | $0.36 | $-1.72 | ||
| Q2 24 | $-0.29 | $-0.92 | ||
| Q1 24 | $-0.75 | $-0.76 |
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 | $11.8M |
| Total DebtLower is stronger | $735.8M | $36.7M |
| Stockholders' EquityBook value | $1.4B | $-19.5M |
| Total Assets | $12.6B | $99.6M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | — | ||
| Q3 25 | $185.3M | $11.8M | ||
| Q2 25 | $160.4M | $7.6M | ||
| Q1 25 | $177.1M | — | ||
| Q4 24 | $167.4M | $8.0M | ||
| Q3 24 | $195.1M | $10.5M | ||
| Q2 24 | $235.5M | $7.5M | ||
| Q1 24 | $226.9M | $11.8M |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | $36.7M | ||
| Q2 25 | $653.0M | $39.0M | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | $37.1M | ||
| Q3 24 | $699.4M | $38.8M | ||
| Q2 24 | $800.7M | $40.3M | ||
| Q1 24 | $1.0B | $38.5M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $-19.5M | ||
| Q2 25 | $1.4B | $-20.6M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $-12.9M | ||
| Q3 24 | $1.4B | $6.5M | ||
| Q2 24 | $1.4B | $7.5M | ||
| Q1 24 | $1.5B | $9.1M |
| Q4 25 | $12.6B | — | ||
| Q3 25 | $12.4B | $99.6M | ||
| Q2 25 | $10.6B | $99.2M | ||
| Q1 25 | $10.0B | — | ||
| Q4 24 | $9.2B | $115.3M | ||
| Q3 24 | $8.9B | $142.9M | ||
| Q2 24 | $8.2B | $141.3M | ||
| Q1 24 | $7.4B | $142.4M |
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | 5.93× | ||
| Q2 24 | 0.56× | 5.38× | ||
| Q1 24 | 0.67× | 4.23× |
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 | $1.3M |
| Free Cash FlowOCF − Capex | $125.9M | — |
| FCF MarginFCF / Revenue | 291.6% | — |
| Capex IntensityCapex / Revenue | 18.9% | — |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | — | ||
| Q3 25 | $6.9M | $1.3M | ||
| Q2 25 | $39.2M | — | ||
| Q1 25 | $25.8M | — | ||
| Q4 24 | $14.1M | $1.6M | ||
| Q3 24 | $-922.0K | $5.2M | ||
| Q2 24 | $-993.0K | $-5.4M | ||
| Q1 24 | $-13.1M | $-1.9M |
| Q4 25 | $125.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-10.6M | — | ||
| Q3 24 | $-8.6M | — | ||
| Q2 24 | $-8.6M | — | ||
| Q1 24 | $-19.1M | — |
| Q4 25 | 291.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -39.6% | — | ||
| Q3 24 | -42.3% | — | ||
| Q2 24 | -44.9% | — | ||
| Q1 24 | -107.0% | — |
| Q4 25 | 18.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 92.3% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 39.7% | — | ||
| Q1 24 | 33.5% | — |
| 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% |
BOXL
| Products | $27.4M | 93% |
| Services | $2.0M | 7% |
