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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $23.3M, roughly 1.9× NORTHERN TECHNOLOGIES INTERNATIONAL CORP). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 1.0%, a 123.0% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 9.2%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-479.7K). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 5.8%).
Maxar Technologies Inc., was an American space technology company, specializing in geospatial intelligence, Earth observation, and on-orbit satellite servicing, satellite products, and related services. DigitalGlobe and MDA Holdings Company merged to become Maxar Technologies on October 5, 2017.
ADAM vs NTIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $23.3M |
| Net Profit | $53.5M | $237.8K |
| Gross Margin | — | 36.0% |
| Operating Margin | — | 4.0% |
| Net Margin | 124.0% | 1.0% |
| Revenue YoY | 61.6% | 9.2% |
| Net Profit YoY | 270.5% | -57.6% |
| EPS (diluted) | $0.45 | $0.03 |
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 | $23.3M | ||
| Q3 25 | $36.6M | $22.3M | ||
| Q2 25 | $36.4M | $21.5M | ||
| Q1 25 | $33.1M | $19.1M | ||
| Q4 24 | $26.7M | $21.3M | ||
| Q3 24 | $20.2M | $23.3M | ||
| Q2 24 | $19.0M | $20.7M | ||
| Q1 24 | $17.9M | $20.8M |
| Q4 25 | $53.5M | $237.8K | ||
| Q3 25 | $44.8M | $-1.1M | ||
| Q2 25 | $8.5M | $121.8K | ||
| Q1 25 | $42.2M | $434.3K | ||
| Q4 24 | $-31.4M | $561.1K | ||
| Q3 24 | $42.8M | $1.8M | ||
| Q2 24 | $-15.6M | $976.6K | ||
| Q1 24 | $-57.9M | $1.7M |
| Q4 25 | — | 36.0% | ||
| Q3 25 | — | 37.9% | ||
| Q2 25 | — | 38.4% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.2% | ||
| Q1 24 | — | 40.0% |
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 4.2% | ||
| Q2 25 | 11.7% | 4.0% | ||
| Q1 25 | — | -1.7% | ||
| Q4 24 | -119.0% | 5.2% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | -124.7% | 7.4% | ||
| Q1 24 | -448.8% | 10.6% |
| Q4 25 | 124.0% | 1.0% | ||
| Q3 25 | 122.5% | -4.9% | ||
| Q2 25 | 23.4% | 0.6% | ||
| Q1 25 | 127.4% | 2.3% | ||
| Q4 24 | -117.5% | 2.6% | ||
| Q3 24 | 211.7% | 7.9% | ||
| Q2 24 | -81.9% | 4.7% | ||
| Q1 24 | -324.1% | 8.2% |
| Q4 25 | $0.45 | $0.03 | ||
| Q3 25 | $0.36 | $-0.11 | ||
| Q2 25 | $-0.04 | $0.01 | ||
| Q1 25 | $0.33 | $0.04 | ||
| Q4 24 | $-0.46 | $0.06 | ||
| Q3 24 | $0.36 | $0.19 | ||
| Q2 24 | $-0.29 | $0.10 | ||
| Q1 24 | $-0.75 | $0.17 |
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 | $6.4M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $72.4M |
| Total Assets | $12.6B | $104.0M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $6.4M | ||
| Q3 25 | $185.3M | $7.3M | ||
| Q2 25 | $160.4M | $6.8M | ||
| Q1 25 | $177.1M | $5.1M | ||
| Q4 24 | $167.4M | $5.6M | ||
| Q3 24 | $195.1M | $5.0M | ||
| Q2 24 | $235.5M | $5.8M | ||
| Q1 24 | $226.9M | $4.8M |
| 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 | $72.4M | ||
| Q3 25 | $1.4B | $72.1M | ||
| Q2 25 | $1.4B | $72.4M | ||
| Q1 25 | $1.4B | $69.7M | ||
| Q4 24 | $1.4B | $70.2M | ||
| Q3 24 | $1.4B | $71.2M | ||
| Q2 24 | $1.4B | $68.9M | ||
| Q1 24 | $1.5B | $68.4M |
| Q4 25 | $12.6B | $104.0M | ||
| Q3 25 | $12.4B | $102.7M | ||
| Q2 25 | $10.6B | $99.3M | ||
| Q1 25 | $10.0B | $93.7M | ||
| Q4 24 | $9.2B | $94.0M | ||
| Q3 24 | $8.9B | $94.7M | ||
| Q2 24 | $8.2B | $89.3M | ||
| Q1 24 | $7.4B | $87.3M |
| 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 | $341.9K |
| Free Cash FlowOCF − Capex | $125.9M | $-479.7K |
| FCF MarginFCF / Revenue | 291.6% | -2.1% |
| Capex IntensityCapex / Revenue | 18.9% | 3.5% |
| Cash ConversionOCF / Net Profit | 2.50× | 1.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $341.9K | ||
| Q3 25 | $6.9M | $-1.4M | ||
| Q2 25 | $39.2M | $609.7K | ||
| Q1 25 | $25.8M | $803.7K | ||
| Q4 24 | $14.1M | $2.4M | ||
| Q3 24 | $-922.0K | — | ||
| Q2 24 | $-993.0K | $1.9M | ||
| Q1 24 | $-13.1M | — |
| Q4 25 | $125.9M | $-479.7K | ||
| Q3 25 | — | $-1.4M | ||
| Q2 25 | — | $-171.2K | ||
| Q1 25 | — | $293.1K | ||
| Q4 24 | $-10.6M | $1.2M | ||
| Q3 24 | $-8.6M | — | ||
| Q2 24 | $-8.6M | $869.4K | ||
| Q1 24 | $-19.1M | — |
| Q4 25 | 291.6% | -2.1% | ||
| Q3 25 | — | -6.3% | ||
| Q2 25 | — | -0.8% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | -39.6% | 5.5% | ||
| Q3 24 | -42.3% | — | ||
| Q2 24 | -44.9% | 4.2% | ||
| Q1 24 | -107.0% | — |
| Q4 25 | 18.9% | 3.5% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | 92.3% | 5.7% | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 39.7% | 5.2% | ||
| Q1 24 | 33.5% | — |
| Q4 25 | 2.50× | 1.44× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | 5.01× | ||
| Q1 25 | 0.61× | 1.85× | ||
| Q4 24 | — | 4.27× | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | 1.99× | ||
| 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% |
NTIC
| Inside The USA To Unaffiliated Customers | $7.5M | 32% |
| Natur Tec | $6.0M | 26% |
| Acobal | $3.6M | 15% |
| Other | $2.7M | 12% |
| BR | $2.1M | 9% |
| Zerust OY | $1.4M | 6% |
