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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $43.2M, roughly 2.0× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -3.2%, a 127.2% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -14.9%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-1.2M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 28.0%).
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
ADAM vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $84.2M |
| Net Profit | $53.5M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | — | -2.9% |
| Net Margin | 124.0% | -3.2% |
| Revenue YoY | 61.6% | -14.9% |
| Net Profit YoY | 270.5% | -44.5% |
| EPS (diluted) | $0.45 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $36.6M | $102.9M | ||
| Q2 25 | $36.4M | $72.2M | ||
| Q1 25 | $33.1M | $57.6M | ||
| Q4 24 | $26.7M | $98.9M | ||
| Q3 24 | $20.2M | $54.2M | ||
| Q2 24 | $19.0M | $78.6M | ||
| Q1 24 | $17.9M | $51.4M |
| Q4 25 | $53.5M | $-2.7M | ||
| Q3 25 | $44.8M | $-2.3M | ||
| Q2 25 | $8.5M | $-2.3M | ||
| Q1 25 | $42.2M | $-1.1M | ||
| Q4 24 | $-31.4M | $-1.9M | ||
| Q3 24 | $42.8M | $-773.0K | ||
| Q2 24 | $-15.6M | $-2.0M | ||
| Q1 24 | $-57.9M | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | -2.9% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | 11.7% | -0.9% | ||
| Q1 25 | — | -1.0% | ||
| Q4 24 | -119.0% | -0.3% | ||
| Q3 24 | — | -0.1% | ||
| Q2 24 | -124.7% | -0.4% | ||
| Q1 24 | -448.8% | -0.4% |
| Q4 25 | 124.0% | -3.2% | ||
| Q3 25 | 122.5% | -2.3% | ||
| Q2 25 | 23.4% | -3.3% | ||
| Q1 25 | 127.4% | -2.0% | ||
| Q4 24 | -117.5% | -1.9% | ||
| Q3 24 | 211.7% | -1.4% | ||
| Q2 24 | -81.9% | -2.5% | ||
| Q1 24 | -324.1% | -1.1% |
| Q4 25 | $0.45 | $-0.92 | ||
| Q3 25 | $0.36 | $-0.68 | ||
| Q2 25 | $-0.04 | $-0.82 | ||
| Q1 25 | $0.33 | $-0.44 | ||
| Q4 24 | $-0.46 | $-1.19 | ||
| Q3 24 | $0.36 | $-0.40 | ||
| Q2 24 | $-0.29 | $-0.90 | ||
| Q1 24 | $-0.75 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | $735.8M | $4.1M |
| Stockholders' EquityBook value | $1.4B | $16.3M |
| Total Assets | $12.6B | $51.1M |
| Debt / EquityLower = less leverage | 0.52× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $2.2M | ||
| Q3 25 | $185.3M | $2.3M | ||
| Q2 25 | $160.4M | $2.0M | ||
| Q1 25 | $177.1M | $1.1M | ||
| Q4 24 | $167.4M | $2.5M | ||
| Q3 24 | $195.1M | $2.1M | ||
| Q2 24 | $235.5M | $797.2K | ||
| Q1 24 | $226.9M | $2.7M |
| Q4 25 | $735.8M | $4.1M | ||
| Q3 25 | $766.6M | $2.7M | ||
| Q2 25 | $653.0M | $4.5M | ||
| Q1 25 | $654.4M | $3.5M | ||
| Q4 24 | $573.2M | $2.5M | ||
| Q3 24 | $699.4M | $3.2M | ||
| Q2 24 | $800.7M | $2.5M | ||
| Q1 24 | $1.0B | $194.0K |
| Q4 25 | $1.4B | $16.3M | ||
| Q3 25 | $1.4B | $17.9M | ||
| Q2 25 | $1.4B | $14.3M | ||
| Q1 25 | $1.4B | $11.6M | ||
| Q4 24 | $1.4B | $11.9M | ||
| Q3 24 | $1.4B | $8.1M | ||
| Q2 24 | $1.4B | $7.6M | ||
| Q1 24 | $1.5B | $8.4M |
| Q4 25 | $12.6B | $51.1M | ||
| Q3 25 | $12.4B | $46.9M | ||
| Q2 25 | $10.6B | $51.4M | ||
| Q1 25 | $10.0B | $42.0M | ||
| Q4 24 | $9.2B | $79.0M | ||
| Q3 24 | $8.9B | $32.4M | ||
| Q2 24 | $8.2B | $30.0M | ||
| Q1 24 | $7.4B | $22.1M |
| Q4 25 | 0.52× | 0.25× | ||
| Q3 25 | 0.55× | 0.15× | ||
| Q2 25 | 0.47× | 0.31× | ||
| Q1 25 | 0.47× | 0.31× | ||
| Q4 24 | 0.41× | 0.21× | ||
| Q3 24 | 0.48× | 0.40× | ||
| Q2 24 | 0.56× | 0.34× | ||
| Q1 24 | 0.67× | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $125.9M | $-1.2M |
| FCF MarginFCF / Revenue | 291.6% | -1.5% |
| Capex IntensityCapex / Revenue | 18.9% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-1.2M | ||
| Q3 25 | $6.9M | $-953.0K | ||
| Q2 25 | $39.2M | $257.7K | ||
| Q1 25 | $25.8M | $-1.9M | ||
| Q4 24 | $14.1M | $-403.7K | ||
| Q3 24 | $-922.0K | $625.0K | ||
| Q2 24 | $-993.0K | $-2.6M | ||
| Q1 24 | $-13.1M | $-536.9K |
| Q4 25 | $125.9M | $-1.2M | ||
| Q3 25 | — | $-969.2K | ||
| Q2 25 | — | $211.7K | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $-10.6M | $-421.3K | ||
| Q3 24 | $-8.6M | $594.5K | ||
| Q2 24 | $-8.6M | $-2.6M | ||
| Q1 24 | $-19.1M | $-608.5K |
| Q4 25 | 291.6% | -1.5% | ||
| Q3 25 | — | -0.9% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | -39.6% | -0.4% | ||
| Q3 24 | -42.3% | 1.1% | ||
| Q2 24 | -44.9% | -3.4% | ||
| Q1 24 | -107.0% | -1.2% |
| Q4 25 | 18.9% | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 92.3% | 0.0% | ||
| Q3 24 | 37.7% | 0.1% | ||
| Q2 24 | 39.7% | 0.0% | ||
| Q1 24 | 33.5% | 0.1% |
| 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% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
