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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Owlet, Inc. (OWLT). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $26.6M, roughly 1.6× Owlet, Inc.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -34.6%, a 158.6% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 29.6%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-651.0K). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 34.2%).
Owlet, Inc. is a pediatric health technology firm that develops smart wearable monitoring products for infants, most notably its signature smart sock that tracks real-time heart rate, oxygen levels, and sleep metrics. It serves global consumer markets across North America, Europe, and Asia-Pacific, distributing products via direct-to-consumer e-commerce and partnered retail outlets, focused on supporting parental peace of mind and infant health safety.
ADAM vs OWLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $26.6M |
| Net Profit | $53.5M | $-9.2M |
| Gross Margin | — | 47.6% |
| Operating Margin | — | -18.4% |
| Net Margin | 124.0% | -34.6% |
| Revenue YoY | 61.6% | 29.6% |
| Net Profit YoY | 270.5% | -1.5% |
| EPS (diluted) | $0.45 | — |
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 | $26.6M | ||
| Q3 25 | $36.6M | $32.0M | ||
| Q2 25 | $36.4M | $26.1M | ||
| Q1 25 | $33.1M | $21.1M | ||
| Q4 24 | $26.7M | $20.5M | ||
| Q3 24 | $20.2M | $22.1M | ||
| Q2 24 | $19.0M | $20.7M | ||
| Q1 24 | $17.9M | $14.8M |
| Q4 25 | $53.5M | $-9.2M | ||
| Q3 25 | $44.8M | $4.1M | ||
| Q2 25 | $8.5M | $-37.6M | ||
| Q1 25 | $42.2M | $3.0M | ||
| Q4 24 | $-31.4M | $-9.1M | ||
| Q3 24 | $42.8M | $-5.6M | ||
| Q2 24 | $-15.6M | $-1.1M | ||
| Q1 24 | $-57.9M | $3.3M |
| Q4 25 | — | 47.6% | ||
| Q3 25 | — | 50.6% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 49.5% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | — | -18.4% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | 11.7% | -7.4% | ||
| Q1 25 | — | -12.7% | ||
| Q4 24 | -119.0% | -36.2% | ||
| Q3 24 | — | -21.8% | ||
| Q2 24 | -124.7% | -10.8% | ||
| Q1 24 | -448.8% | -39.0% |
| Q4 25 | 124.0% | -34.6% | ||
| Q3 25 | 122.5% | 12.9% | ||
| Q2 25 | 23.4% | -144.4% | ||
| Q1 25 | 127.4% | 14.3% | ||
| Q4 24 | -117.5% | -44.2% | ||
| Q3 24 | 211.7% | -25.4% | ||
| Q2 24 | -81.9% | -5.5% | ||
| Q1 24 | -324.1% | 22.2% |
| Q4 25 | $0.45 | — | ||
| Q3 25 | $0.36 | $-0.06 | ||
| Q2 25 | $-0.04 | $-2.37 | ||
| Q1 25 | $0.33 | $0.11 | ||
| Q4 24 | $-0.46 | $-0.15 | ||
| Q3 24 | $0.36 | $-0.61 | ||
| Q2 24 | $-0.29 | $-0.30 | ||
| Q1 24 | $-0.75 | $-0.51 |
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 | $35.5M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $19.0M |
| Total Assets | $12.6B | $85.6M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $35.5M | ||
| Q3 25 | $185.3M | $23.8M | ||
| Q2 25 | $160.4M | $21.8M | ||
| Q1 25 | $177.1M | $16.3M | ||
| Q4 24 | $167.4M | $20.2M | ||
| Q3 24 | $195.1M | $21.6M | ||
| Q2 24 | $235.5M | $15.4M | ||
| Q1 24 | $226.9M | $18.4M |
| 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 | $2.1M | ||
| Q1 24 | $1.0B | $4.0M |
| Q4 25 | $1.4B | $19.0M | ||
| Q3 25 | $1.4B | $-54.1M | ||
| Q2 25 | $1.4B | $-59.2M | ||
| Q1 25 | $1.4B | $-25.8M | ||
| Q4 24 | $1.4B | $-29.8M | ||
| Q3 24 | $1.4B | $-21.5M | ||
| Q2 24 | $1.4B | $-33.4M | ||
| Q1 24 | $1.5B | $-32.9M |
| Q4 25 | $12.6B | $85.6M | ||
| Q3 25 | $12.4B | $74.9M | ||
| Q2 25 | $10.6B | $63.5M | ||
| Q1 25 | $10.0B | $51.4M | ||
| Q4 24 | $9.2B | $49.5M | ||
| Q3 24 | $8.9B | $56.1M | ||
| Q2 24 | $8.2B | $45.9M | ||
| Q1 24 | $7.4B | $43.8M |
| 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 | $-452.0K |
| Free Cash FlowOCF − Capex | $125.9M | $-651.0K |
| FCF MarginFCF / Revenue | 291.6% | -2.5% |
| Capex IntensityCapex / Revenue | 18.9% | 0.7% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-11.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-452.0K | ||
| Q3 25 | $6.9M | $-2.2M | ||
| Q2 25 | $39.2M | $-2.2M | ||
| Q1 25 | $25.8M | $-5.9M | ||
| Q4 24 | $14.1M | $3.0M | ||
| Q3 24 | $-922.0K | $-7.5M | ||
| Q2 24 | $-993.0K | $-3.4M | ||
| Q1 24 | $-13.1M | $-3.4M |
| Q4 25 | $125.9M | $-651.0K | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | — | $-5.9M | ||
| Q4 24 | $-10.6M | $3.0M | ||
| Q3 24 | $-8.6M | $-7.5M | ||
| Q2 24 | $-8.6M | $-3.4M | ||
| Q1 24 | $-19.1M | — |
| Q4 25 | 291.6% | -2.5% | ||
| Q3 25 | — | -6.8% | ||
| Q2 25 | — | -8.8% | ||
| Q1 25 | — | -28.1% | ||
| Q4 24 | -39.6% | 14.5% | ||
| Q3 24 | -42.3% | -33.9% | ||
| Q2 24 | -44.9% | -16.3% | ||
| Q1 24 | -107.0% | — |
| Q4 25 | 18.9% | 0.7% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 92.3% | 0.2% | ||
| Q3 24 | 37.7% | 0.0% | ||
| Q2 24 | 39.7% | 0.0% | ||
| Q1 24 | 33.5% | 0.0% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | -0.52× | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | -1.96× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1.03× |
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% |
OWLT
| US | $22.7M | 85% |
| Non Us | $3.2M | 12% |
| Other | $651.0K | 2% |
