vs
Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $43.2M, roughly 1.7× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -16.1%, a 140.1% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 17.6%). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 12.9%).
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
ADAM vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $72.0M |
| Net Profit | $53.5M | $-11.6M |
| Gross Margin | — | — |
| Operating Margin | — | -0.5% |
| Net Margin | 124.0% | -16.1% |
| Revenue YoY | 61.6% | 17.6% |
| Net Profit YoY | 270.5% | 76.9% |
| EPS (diluted) | $0.45 | $-0.11 |
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 | $72.0M | ||
| Q3 25 | $36.6M | $73.8M | ||
| Q2 25 | $36.4M | $67.1M | ||
| Q1 25 | $33.1M | $60.0M | ||
| Q4 24 | $26.7M | $61.2M | ||
| Q3 24 | $20.2M | $72.3M | ||
| Q2 24 | $19.0M | $60.4M | ||
| Q1 24 | $17.9M | $56.5M |
| Q4 25 | $53.5M | $-11.6M | ||
| Q3 25 | $44.8M | $1.1M | ||
| Q2 25 | $8.5M | $19.2M | ||
| Q1 25 | $42.2M | $-17.3M | ||
| Q4 24 | $-31.4M | $-50.2M | ||
| Q3 24 | $42.8M | $9.9M | ||
| Q2 24 | $-15.6M | $-9.7M | ||
| Q1 24 | $-57.9M | $-13.2M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 13.8% | ||
| Q2 25 | 11.7% | 9.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | -119.0% | -6.9% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | -124.7% | -2.4% | ||
| Q1 24 | -448.8% | -8.3% |
| Q4 25 | 124.0% | -16.1% | ||
| Q3 25 | 122.5% | 1.5% | ||
| Q2 25 | 23.4% | 28.6% | ||
| Q1 25 | 127.4% | -28.9% | ||
| Q4 24 | -117.5% | -82.1% | ||
| Q3 24 | 211.7% | 13.7% | ||
| Q2 24 | -81.9% | -16.0% | ||
| Q1 24 | -324.1% | -23.4% |
| Q4 25 | $0.45 | $-0.11 | ||
| Q3 25 | $0.36 | $-0.01 | ||
| Q2 25 | $-0.04 | $0.13 | ||
| Q1 25 | $0.33 | $-0.16 | ||
| Q4 24 | $-0.46 | $-0.57 | ||
| Q3 24 | $0.36 | $0.00 | ||
| Q2 24 | $-0.29 | $-0.01 | ||
| Q1 24 | $-0.75 | $-0.01 |
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 | $447.5M |
| Total DebtLower is stronger | $735.8M | $483.8M |
| Stockholders' EquityBook value | $1.4B | $355.7M |
| Total Assets | $12.6B | $2.3B |
| Debt / EquityLower = less leverage | 0.52× | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $447.5M | ||
| Q3 25 | $185.3M | $346.3M | ||
| Q2 25 | $160.4M | $308.2M | ||
| Q1 25 | $177.1M | $241.4M | ||
| Q4 24 | $167.4M | $391.2M | ||
| Q3 24 | $195.1M | $51.9M | ||
| Q2 24 | $235.5M | $64.3M | ||
| Q1 24 | $226.9M | $59.3M |
| Q4 25 | $735.8M | $483.8M | ||
| Q3 25 | $766.6M | $508.6M | ||
| Q2 25 | $653.0M | $491.5M | ||
| Q1 25 | $654.4M | $502.7M | ||
| Q4 24 | $573.2M | $511.4M | ||
| Q3 24 | $699.4M | $394.4M | ||
| Q2 24 | $800.7M | $393.1M | ||
| Q1 24 | $1.0B | $398.7M |
| Q4 25 | $1.4B | $355.7M | ||
| Q3 25 | $1.4B | $364.8M | ||
| Q2 25 | $1.4B | $360.9M | ||
| Q1 25 | $1.4B | $344.3M | ||
| Q4 24 | $1.4B | $358.9M | ||
| Q3 24 | $1.4B | $394.1M | ||
| Q2 24 | $1.4B | $383.0M | ||
| Q1 24 | $1.5B | $377.1M |
| Q4 25 | $12.6B | $2.3B | ||
| Q3 25 | $12.4B | $2.2B | ||
| Q2 25 | $10.6B | $1.9B | ||
| Q1 25 | $10.0B | $1.7B | ||
| Q4 24 | $9.2B | $1.7B | ||
| Q3 24 | $8.9B | $917.6M | ||
| Q2 24 | $8.2B | $926.2M | ||
| Q1 24 | $7.4B | $917.0M |
| Q4 25 | 0.52× | 1.36× | ||
| Q3 25 | 0.55× | 1.39× | ||
| Q2 25 | 0.47× | 1.36× | ||
| Q1 25 | 0.47× | 1.46× | ||
| Q4 24 | 0.41× | 1.43× | ||
| Q3 24 | 0.48× | 1.00× | ||
| Q2 24 | 0.56× | 1.03× | ||
| Q1 24 | 0.67× | 1.06× |
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 | $175.9M |
| 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 | $175.9M | ||
| Q3 25 | $6.9M | $236.0M | ||
| Q2 25 | $39.2M | $157.9M | ||
| Q1 25 | $25.8M | $51.9M | ||
| Q4 24 | $14.1M | $340.7M | ||
| Q3 24 | $-922.0K | $32.0M | ||
| Q2 24 | $-993.0K | $36.7M | ||
| Q1 24 | $-13.1M | $29.8M |
| 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× | 216.53× | ||
| Q2 25 | 4.59× | 8.22× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 3.23× | ||
| 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% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
