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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and PETMED EXPRESS INC (PETS). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $40.7M, roughly 1.1× PETMED EXPRESS INC). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -26.0%, a 149.9% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -23.3%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-9.2M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -20.9%).
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
ADAM vs PETS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $40.7M |
| Net Profit | $53.5M | $-10.6M |
| Gross Margin | — | 23.3% |
| Operating Margin | — | -25.7% |
| Net Margin | 124.0% | -26.0% |
| Revenue YoY | 61.6% | -23.3% |
| Net Profit YoY | 270.5% | -1392.6% |
| EPS (diluted) | $0.45 | $-0.50 |
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 | $40.7M | ||
| Q3 25 | $36.6M | $44.4M | ||
| Q2 25 | $36.4M | $51.2M | ||
| Q1 25 | $33.1M | $50.8M | ||
| Q4 24 | $26.7M | $52.0M | ||
| Q3 24 | $20.2M | $58.0M | ||
| Q2 24 | $19.0M | $66.2M | ||
| Q1 24 | $17.9M | $65.1M |
| Q4 25 | $53.5M | $-10.6M | ||
| Q3 25 | $44.8M | $-8.5M | ||
| Q2 25 | $8.5M | $-34.2M | ||
| Q1 25 | $42.2M | $-11.6M | ||
| Q4 24 | $-31.4M | $-707.0K | ||
| Q3 24 | $42.8M | $2.3M | ||
| Q2 24 | $-15.6M | $3.8M | ||
| Q1 24 | $-57.9M | $-5.0M |
| Q4 25 | — | 23.3% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | — | 28.1% | ||
| Q1 25 | — | 29.9% | ||
| Q4 24 | — | 31.0% | ||
| Q3 24 | — | 32.3% | ||
| Q2 24 | — | 28.8% | ||
| Q1 24 | — | 29.3% |
| Q4 25 | — | -25.7% | ||
| Q3 25 | — | -18.9% | ||
| Q2 25 | 11.7% | -66.7% | ||
| Q1 25 | — | -11.9% | ||
| Q4 24 | -119.0% | -0.9% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | -124.7% | 6.6% | ||
| Q1 24 | -448.8% | -5.9% |
| Q4 25 | 124.0% | -26.0% | ||
| Q3 25 | 122.5% | -19.2% | ||
| Q2 25 | 23.4% | -66.7% | ||
| Q1 25 | 127.4% | -22.9% | ||
| Q4 24 | -117.5% | -1.4% | ||
| Q3 24 | 211.7% | 4.0% | ||
| Q2 24 | -81.9% | 5.7% | ||
| Q1 24 | -324.1% | -7.7% |
| Q4 25 | $0.45 | $-0.50 | ||
| Q3 25 | $0.36 | $-0.41 | ||
| Q2 25 | $-0.04 | $-1.65 | ||
| Q1 25 | $0.33 | $-0.56 | ||
| Q4 24 | $-0.46 | $-0.03 | ||
| Q3 24 | $0.36 | $0.11 | ||
| Q2 24 | $-0.29 | $0.18 | ||
| Q1 24 | $-0.75 | $-0.24 |
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 | $26.9M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $32.8M |
| Total Assets | $12.6B | $88.0M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $26.9M | ||
| Q3 25 | $185.3M | $36.1M | ||
| Q2 25 | $160.4M | $41.1M | ||
| Q1 25 | $177.1M | $54.7M | ||
| Q4 24 | $167.4M | $50.1M | ||
| Q3 24 | $195.1M | $52.0M | ||
| Q2 24 | $235.5M | $46.0M | ||
| Q1 24 | $226.9M | $55.3M |
| 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 | $32.8M | ||
| Q3 25 | $1.4B | $43.1M | ||
| Q2 25 | $1.4B | $51.5M | ||
| Q1 25 | $1.4B | $85.1M | ||
| Q4 24 | $1.4B | $96.2M | ||
| Q3 24 | $1.4B | $96.4M | ||
| Q2 24 | $1.4B | $93.5M | ||
| Q1 24 | $1.5B | $96.7M |
| Q4 25 | $12.6B | $88.0M | ||
| Q3 25 | $12.4B | $100.3M | ||
| Q2 25 | $10.6B | $109.8M | ||
| Q1 25 | $10.0B | $148.7M | ||
| Q4 24 | $9.2B | $144.8M | ||
| Q3 24 | $8.9B | $146.0M | ||
| Q2 24 | $8.2B | $152.7M | ||
| Q1 24 | $7.4B | $169.9M |
| 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 | $-9.2M |
| Free Cash FlowOCF − Capex | $125.9M | $-9.2M |
| FCF MarginFCF / Revenue | 291.6% | -22.7% |
| Capex IntensityCapex / Revenue | 18.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-23.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-9.2M | ||
| Q3 25 | $6.9M | $-2.2M | ||
| Q2 25 | $39.2M | $-12.3M | ||
| Q1 25 | $25.8M | $7.0M | ||
| Q4 24 | $14.1M | $-1.2M | ||
| Q3 24 | $-922.0K | $7.4M | ||
| Q2 24 | $-993.0K | $-8.5M | ||
| Q1 24 | $-13.1M | $7.1M |
| Q4 25 | $125.9M | $-9.2M | ||
| Q3 25 | — | $-4.8M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $4.6M | ||
| Q4 24 | $-10.6M | $-1.9M | ||
| Q3 24 | $-8.6M | $6.1M | ||
| Q2 24 | $-8.6M | $-9.2M | ||
| Q1 24 | $-19.1M | $5.9M |
| Q4 25 | 291.6% | -22.7% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | — | -26.5% | ||
| Q1 25 | — | 9.1% | ||
| Q4 24 | -39.6% | -3.7% | ||
| Q3 24 | -42.3% | 10.6% | ||
| Q2 24 | -44.9% | -13.9% | ||
| Q1 24 | -107.0% | 9.0% |
| Q4 25 | 18.9% | 0.1% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 92.3% | 1.5% | ||
| Q3 24 | 37.7% | 2.2% | ||
| Q2 24 | 39.7% | 1.0% | ||
| Q1 24 | 33.5% | 1.9% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 3.18× | ||
| Q2 24 | — | -2.27× | ||
| 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% |
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
