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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Golden Matrix Group, Inc. (GMGI). Click either name above to swap in a different company.
Golden Matrix Group, Inc. is the larger business by last-quarter revenue ($49.6M vs $43.2M, roughly 1.1× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -179.0%, a 303.0% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -15.8%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $6.4M). Over the past eight quarters, Golden Matrix Group, Inc.'s revenue compounded faster (104.6% CAGR vs 55.5%).
Golden Matrix Group Inc. is a global gaming tech firm that develops and licenses proprietary online gaming platforms, social casino products and interactive solutions. It serves B2B gaming operator clients across North America, Europe and Asia-Pacific, plus runs direct-to-consumer casual gaming properties.
ADAM vs GMGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $49.6M |
| Net Profit | $53.5M | $-88.7M |
| Gross Margin | — | 57.5% |
| Operating Margin | — | -188.3% |
| Net Margin | 124.0% | -179.0% |
| Revenue YoY | 61.6% | -15.8% |
| Net Profit YoY | 270.5% | -4880.1% |
| EPS (diluted) | $0.45 | $-7.73 |
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 | $49.6M | ||
| Q3 25 | $36.6M | $47.3M | ||
| Q2 25 | $36.4M | $43.2M | ||
| Q1 25 | $33.1M | $42.7M | ||
| Q4 24 | $26.7M | $58.9M | ||
| Q3 24 | $20.2M | $41.0M | ||
| Q2 24 | $19.0M | $39.4M | ||
| Q1 24 | $17.9M | $11.8M |
| Q4 25 | $53.5M | $-88.7M | ||
| Q3 25 | $44.8M | $566.0K | ||
| Q2 25 | $8.5M | $-3.6M | ||
| Q1 25 | $42.2M | $-231.6K | ||
| Q4 24 | $-31.4M | $1.9M | ||
| Q3 24 | $42.8M | $-3.4M | ||
| Q2 24 | $-15.6M | $64.9K | ||
| Q1 24 | $-57.9M | $74.5K |
| Q4 25 | — | 57.5% | ||
| Q3 25 | — | 55.8% | ||
| Q2 25 | — | 56.4% | ||
| Q1 25 | — | 56.6% | ||
| Q4 24 | — | 69.8% | ||
| Q3 24 | — | 54.7% | ||
| Q2 24 | — | 55.0% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | — | -188.3% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | 11.7% | -5.3% | ||
| Q1 25 | — | -0.2% | ||
| Q4 24 | -119.0% | 5.6% | ||
| Q3 24 | — | -2.4% | ||
| Q2 24 | -124.7% | 0.3% | ||
| Q1 24 | -448.8% | 2.4% |
| Q4 25 | 124.0% | -179.0% | ||
| Q3 25 | 122.5% | 1.2% | ||
| Q2 25 | 23.4% | -8.3% | ||
| Q1 25 | 127.4% | -0.5% | ||
| Q4 24 | -117.5% | 3.2% | ||
| Q3 24 | 211.7% | -8.3% | ||
| Q2 24 | -81.9% | 0.2% | ||
| Q1 24 | -324.1% | 0.6% |
| Q4 25 | $0.45 | $-7.73 | ||
| Q3 25 | $0.36 | $0.00 | ||
| Q2 25 | $-0.04 | $-0.03 | ||
| Q1 25 | $0.33 | $0.00 | ||
| Q4 24 | $-0.46 | $-0.13 | ||
| Q3 24 | $0.36 | $-0.03 | ||
| Q2 24 | $-0.29 | $0.00 | ||
| Q1 24 | $-0.75 | $0.00 |
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 | — |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $46.5M |
| Total Assets | $12.6B | $118.1M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | — | ||
| Q3 25 | $185.3M | — | ||
| Q2 25 | $160.4M | — | ||
| Q1 25 | $177.1M | — | ||
| Q4 24 | $167.4M | — | ||
| 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 | — | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $46.5M | ||
| Q3 25 | $1.4B | $123.5M | ||
| Q2 25 | $1.4B | $121.3M | ||
| Q1 25 | $1.4B | $108.5M | ||
| Q4 24 | $1.4B | $105.1M | ||
| Q3 24 | $1.4B | $94.3M | ||
| Q2 24 | $1.4B | $90.4M | ||
| Q1 24 | $1.5B | $32.1M |
| Q4 25 | $12.6B | $118.1M | ||
| Q3 25 | $12.4B | $209.8M | ||
| Q2 25 | $10.6B | $210.3M | ||
| Q1 25 | $10.0B | $214.0M | ||
| Q4 24 | $9.2B | $213.7M | ||
| Q3 24 | $8.9B | $213.5M | ||
| Q2 24 | $8.2B | $191.5M | ||
| Q1 24 | $7.4B | $37.1M |
| 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 | $8.2M |
| Free Cash FlowOCF − Capex | $125.9M | $6.4M |
| FCF MarginFCF / Revenue | 291.6% | 13.0% |
| Capex IntensityCapex / Revenue | 18.9% | 3.6% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $19.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $8.2M | ||
| Q3 25 | $6.9M | $7.0M | ||
| Q2 25 | $39.2M | $2.4M | ||
| Q1 25 | $25.8M | $7.7M | ||
| Q4 24 | $14.1M | — | ||
| Q3 24 | $-922.0K | $4.8M | ||
| Q2 24 | $-993.0K | — | ||
| Q1 24 | $-13.1M | $8.2K |
| Q4 25 | $125.9M | $6.4M | ||
| Q3 25 | — | $6.2M | ||
| Q2 25 | — | $-89.4K | ||
| Q1 25 | — | $6.6M | ||
| Q4 24 | $-10.6M | — | ||
| Q3 24 | $-8.6M | $2.3M | ||
| Q2 24 | $-8.6M | — | ||
| Q1 24 | $-19.1M | $6.7K |
| Q4 25 | 291.6% | 13.0% | ||
| Q3 25 | — | 13.1% | ||
| Q2 25 | — | -0.2% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | -39.6% | — | ||
| Q3 24 | -42.3% | 5.6% | ||
| Q2 24 | -44.9% | — | ||
| Q1 24 | -107.0% | 0.1% |
| Q4 25 | 18.9% | 3.6% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | 92.3% | — | ||
| Q3 24 | 37.7% | 6.0% | ||
| Q2 24 | 39.7% | — | ||
| Q1 24 | 33.5% | 0.0% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | 12.42× | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.11× |
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% |
GMGI
| R Kings And CFAC | $43.8M | 88% |
| Other | $5.8M | 12% |
