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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and ESTABLISHMENT LABS HOLDINGS INC. (ESTA). Click either name above to swap in a different company.
ESTABLISHMENT LABS HOLDINGS INC. is the larger business by last-quarter revenue ($64.6M vs $43.2M, roughly 1.5× ADAMAS TRUST, INC.). On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 45.2%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-2.0M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 31.9%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
ADAM vs ESTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $64.6M |
| Net Profit | $53.5M | — |
| Gross Margin | — | 70.5% |
| Operating Margin | — | -6.1% |
| Net Margin | 124.0% | — |
| Revenue YoY | 61.6% | 45.2% |
| Net Profit YoY | 270.5% | — |
| EPS (diluted) | $0.45 | $-0.07 |
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 | $64.6M | ||
| Q3 25 | $36.6M | $53.8M | ||
| Q2 25 | $36.4M | $51.3M | ||
| Q1 25 | $33.1M | $41.4M | ||
| Q4 24 | $26.7M | $44.5M | ||
| Q3 24 | $20.2M | $40.2M | ||
| Q2 24 | $19.0M | $44.1M | ||
| Q1 24 | $17.9M | $37.2M |
| Q4 25 | $53.5M | — | ||
| Q3 25 | $44.8M | $-11.1M | ||
| Q2 25 | $8.5M | $-16.6M | ||
| Q1 25 | $42.2M | $-20.7M | ||
| Q4 24 | $-31.4M | — | ||
| Q3 24 | $42.8M | $-16.7M | ||
| Q2 24 | $-15.6M | $-17.2M | ||
| Q1 24 | $-57.9M | $-16.2M |
| Q4 25 | — | 70.5% | ||
| Q3 25 | — | 70.1% | ||
| Q2 25 | — | 68.8% | ||
| Q1 25 | — | 67.2% | ||
| Q4 24 | — | 68.5% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 65.6% | ||
| Q1 24 | — | 65.6% |
| Q4 25 | — | -6.1% | ||
| Q3 25 | — | -7.5% | ||
| Q2 25 | 11.7% | -27.5% | ||
| Q1 25 | — | -41.0% | ||
| Q4 24 | -119.0% | -41.9% | ||
| Q3 24 | — | -32.7% | ||
| Q2 24 | -124.7% | -21.2% | ||
| Q1 24 | -448.8% | -23.8% |
| Q4 25 | 124.0% | — | ||
| Q3 25 | 122.5% | -20.7% | ||
| Q2 25 | 23.4% | -32.3% | ||
| Q1 25 | 127.4% | -50.1% | ||
| Q4 24 | -117.5% | — | ||
| Q3 24 | 211.7% | -41.5% | ||
| Q2 24 | -81.9% | -38.9% | ||
| Q1 24 | -324.1% | -43.6% |
| Q4 25 | $0.45 | $-0.07 | ||
| Q3 25 | $0.36 | $-0.38 | ||
| Q2 25 | $-0.04 | $-0.57 | ||
| Q1 25 | $0.33 | $-0.70 | ||
| Q4 24 | $-0.46 | $-1.21 | ||
| Q3 24 | $0.36 | $-0.59 | ||
| Q2 24 | $-0.29 | $-0.62 | ||
| Q1 24 | $-0.75 | $-0.58 |
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 | $75.6M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $23.5M |
| Total Assets | $12.6B | $357.2M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $75.6M | ||
| Q3 25 | $185.3M | $70.6M | ||
| Q2 25 | $160.4M | $54.6M | ||
| Q1 25 | $177.1M | $69.2M | ||
| Q4 24 | $167.4M | $90.3M | ||
| Q3 24 | $195.1M | — | ||
| Q2 24 | $235.5M | — | ||
| Q1 24 | $226.9M | — |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | $0 | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $23.5M | ||
| Q3 25 | $1.4B | $16.4M | ||
| Q2 25 | $1.4B | $22.8M | ||
| Q1 25 | $1.4B | $38.5M | ||
| Q4 24 | $1.4B | $53.1M | ||
| Q3 24 | $1.4B | $32.7M | ||
| Q2 24 | $1.4B | $45.0M | ||
| Q1 24 | $1.5B | $56.9M |
| Q4 25 | $12.6B | $357.2M | ||
| Q3 25 | $12.4B | $338.9M | ||
| Q2 25 | $10.6B | $329.7M | ||
| Q1 25 | $10.0B | $333.4M | ||
| Q4 24 | $9.2B | $346.8M | ||
| Q3 24 | $8.9B | $282.7M | ||
| Q2 24 | $8.2B | $285.1M | ||
| Q1 24 | $7.4B | $301.8M |
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | 0.00× | ||
| 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 | $-162.0K |
| Free Cash FlowOCF − Capex | $125.9M | $-2.0M |
| FCF MarginFCF / Revenue | 291.6% | -3.1% |
| Capex IntensityCapex / Revenue | 18.9% | 2.8% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-56.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-162.0K | ||
| Q3 25 | $6.9M | $-11.3M | ||
| Q2 25 | $39.2M | $-18.8M | ||
| Q1 25 | $25.8M | $-20.7M | ||
| Q4 24 | $14.1M | $-20.7M | ||
| Q3 24 | $-922.0K | $-12.5M | ||
| Q2 24 | $-993.0K | $-14.2M | ||
| Q1 24 | $-13.1M | $-11.2M |
| Q4 25 | $125.9M | $-2.0M | ||
| Q3 25 | — | $-13.1M | ||
| Q2 25 | — | $-20.4M | ||
| Q1 25 | — | $-21.5M | ||
| Q4 24 | $-10.6M | $-21.3M | ||
| Q3 24 | $-8.6M | $-13.9M | ||
| Q2 24 | $-8.6M | $-15.0M | ||
| Q1 24 | $-19.1M | $-14.5M |
| Q4 25 | 291.6% | -3.1% | ||
| Q3 25 | — | -24.4% | ||
| Q2 25 | — | -39.7% | ||
| Q1 25 | — | -51.9% | ||
| Q4 24 | -39.6% | -47.8% | ||
| Q3 24 | -42.3% | -34.6% | ||
| Q2 24 | -44.9% | -33.9% | ||
| Q1 24 | -107.0% | -38.9% |
| Q4 25 | 18.9% | 2.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | 92.3% | 1.2% | ||
| Q3 24 | 37.7% | 3.7% | ||
| Q2 24 | 39.7% | 1.8% | ||
| Q1 24 | 33.5% | 8.9% |
| 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% |
ESTA
Segment breakdown not available.
