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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and RxSight, Inc. (RXST). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $32.6M, roughly 1.3× RxSight, Inc.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -28.1%, a 152.1% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -18.9%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-2.3M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 5.1%).
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
ADAM vs RXST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $32.6M |
| Net Profit | $53.5M | $-9.2M |
| Gross Margin | — | 77.5% |
| Operating Margin | — | -34.8% |
| Net Margin | 124.0% | -28.1% |
| Revenue YoY | 61.6% | -18.9% |
| Net Profit YoY | 270.5% | -54.1% |
| EPS (diluted) | $0.45 | $-0.22 |
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 | $32.6M | ||
| Q3 25 | $36.6M | $30.3M | ||
| Q2 25 | $36.4M | $33.6M | ||
| Q1 25 | $33.1M | $37.9M | ||
| Q4 24 | $26.7M | $40.2M | ||
| Q3 24 | $20.2M | $35.3M | ||
| Q2 24 | $19.0M | $34.9M | ||
| Q1 24 | $17.9M | $29.5M |
| Q4 25 | $53.5M | $-9.2M | ||
| Q3 25 | $44.8M | $-9.8M | ||
| Q2 25 | $8.5M | $-11.8M | ||
| Q1 25 | $42.2M | $-8.2M | ||
| Q4 24 | $-31.4M | $-5.9M | ||
| Q3 24 | $42.8M | $-6.3M | ||
| Q2 24 | $-15.6M | $-6.1M | ||
| Q1 24 | $-57.9M | $-9.1M |
| Q4 25 | — | 77.5% | ||
| Q3 25 | — | 79.9% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 71.6% | ||
| Q3 24 | — | 71.4% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 70.1% |
| Q4 25 | — | -34.8% | ||
| Q3 25 | — | -40.1% | ||
| Q2 25 | 11.7% | -41.6% | ||
| Q1 25 | — | -28.2% | ||
| Q4 24 | -119.0% | -21.5% | ||
| Q3 24 | — | -26.1% | ||
| Q2 24 | -124.7% | -23.9% | ||
| Q1 24 | -448.8% | -36.2% |
| Q4 25 | 124.0% | -28.1% | ||
| Q3 25 | 122.5% | -32.4% | ||
| Q2 25 | 23.4% | -35.0% | ||
| Q1 25 | 127.4% | -21.6% | ||
| Q4 24 | -117.5% | -14.8% | ||
| Q3 24 | 211.7% | -17.9% | ||
| Q2 24 | -81.9% | -17.4% | ||
| Q1 24 | -324.1% | -30.8% |
| Q4 25 | $0.45 | $-0.22 | ||
| Q3 25 | $0.36 | $-0.24 | ||
| Q2 25 | $-0.04 | $-0.29 | ||
| Q1 25 | $0.33 | $-0.20 | ||
| Q4 24 | $-0.46 | $-0.14 | ||
| Q3 24 | $0.36 | $-0.16 | ||
| Q2 24 | $-0.29 | $-0.16 | ||
| Q1 24 | $-0.75 | $-0.25 |
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 | $228.1M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $275.7M |
| Total Assets | $12.6B | $311.8M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $228.1M | ||
| Q3 25 | $185.3M | $227.5M | ||
| Q2 25 | $160.4M | $227.5M | ||
| Q1 25 | $177.1M | $229.3M | ||
| Q4 24 | $167.4M | $237.2M | ||
| Q3 24 | $195.1M | $237.1M | ||
| Q2 24 | $235.5M | $233.3M | ||
| Q1 24 | $226.9M | $125.4M |
| 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 | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $275.7M | ||
| Q3 25 | $1.4B | $276.0M | ||
| Q2 25 | $1.4B | $278.0M | ||
| Q1 25 | $1.4B | $279.3M | ||
| Q4 24 | $1.4B | $281.2M | ||
| Q3 24 | $1.4B | $277.3M | ||
| Q2 24 | $1.4B | $275.2M | ||
| Q1 24 | $1.5B | $163.9M |
| Q4 25 | $12.6B | $311.8M | ||
| Q3 25 | $12.4B | $308.5M | ||
| Q2 25 | $10.6B | $309.0M | ||
| Q1 25 | $10.0B | $313.0M | ||
| Q4 24 | $9.2B | $318.6M | ||
| Q3 24 | $8.9B | $310.5M | ||
| Q2 24 | $8.2B | $305.5M | ||
| Q1 24 | $7.4B | $183.2M |
| 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 | $-1.1M |
| Free Cash FlowOCF − Capex | $125.9M | $-2.3M |
| FCF MarginFCF / Revenue | 291.6% | -6.9% |
| Capex IntensityCapex / Revenue | 18.9% | 3.5% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-1.1M | ||
| Q3 25 | $6.9M | $-1.2M | ||
| Q2 25 | $39.2M | $-4.4M | ||
| Q1 25 | $25.8M | $-8.8M | ||
| Q4 24 | $14.1M | $-4.3M | ||
| Q3 24 | $-922.0K | $650.0K | ||
| Q2 24 | $-993.0K | $-4.0M | ||
| Q1 24 | $-13.1M | $-9.3M |
| Q4 25 | $125.9M | $-2.3M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-5.9M | ||
| Q1 25 | — | $-9.4M | ||
| Q4 24 | $-10.6M | $-5.1M | ||
| Q3 24 | $-8.6M | $-453.0K | ||
| Q2 24 | $-8.6M | $-5.5M | ||
| Q1 24 | $-19.1M | $-11.3M |
| Q4 25 | 291.6% | -6.9% | ||
| Q3 25 | — | -5.8% | ||
| Q2 25 | — | -17.6% | ||
| Q1 25 | — | -24.8% | ||
| Q4 24 | -39.6% | -12.7% | ||
| Q3 24 | -42.3% | -1.3% | ||
| Q2 24 | -44.9% | -15.9% | ||
| Q1 24 | -107.0% | -38.2% |
| Q4 25 | 18.9% | 3.5% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 92.3% | 2.1% | ||
| Q3 24 | 37.7% | 3.1% | ||
| Q2 24 | 39.7% | 4.4% | ||
| Q1 24 | 33.5% | 6.7% |
| 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% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
