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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Zevia PBC (ZVIA). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $37.9M, roughly 1.1× Zevia PBC). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -3.4%, a 127.4% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -4.0%). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -1.2%).
Zevia is a Los Angeles based company that produces soft drinks, organic tea, energy drinks, and mixers sweetened with stevia. All Zevia products are zero-calorie, sugar-free, gluten free, vegan, certified kosher, and certified by The Non-GMO Project. In June 2021, Zevia filed to go public with an IPO.
ADAM vs ZVIA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $37.9M |
| Net Profit | $53.5M | $-1.3M |
| Gross Margin | — | 47.7% |
| Operating Margin | — | -4.0% |
| Net Margin | 124.0% | -3.4% |
| Revenue YoY | 61.6% | -4.0% |
| Net Profit YoY | 270.5% | 80.9% |
| EPS (diluted) | $0.45 | $-0.02 |
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 | $37.9M | ||
| Q3 25 | $36.6M | $40.8M | ||
| Q2 25 | $36.4M | $44.5M | ||
| Q1 25 | $33.1M | $38.0M | ||
| Q4 24 | $26.7M | $39.5M | ||
| Q3 24 | $20.2M | $36.4M | ||
| Q2 24 | $19.0M | $40.4M | ||
| Q1 24 | $17.9M | $38.8M |
| Q4 25 | $53.5M | $-1.3M | ||
| Q3 25 | $44.8M | $-2.7M | ||
| Q2 25 | $8.5M | $-651.0K | ||
| Q1 25 | $42.2M | $-6.4M | ||
| Q4 24 | $-31.4M | $-6.8M | ||
| Q3 24 | $42.8M | $-2.5M | ||
| Q2 24 | $-15.6M | $-7.0M | ||
| Q1 24 | $-57.9M | $-7.2M |
| Q4 25 | — | 47.7% | ||
| Q3 25 | — | 45.6% | ||
| Q2 25 | — | 48.7% | ||
| Q1 25 | — | 50.1% | ||
| Q4 24 | — | 49.2% | ||
| Q3 24 | — | 49.1% | ||
| Q2 24 | — | 41.9% | ||
| Q1 24 | — | 45.7% |
| Q4 25 | — | -4.0% | ||
| Q3 25 | — | -7.0% | ||
| Q2 25 | 11.7% | -2.3% | ||
| Q1 25 | — | -16.8% | ||
| Q4 24 | -119.0% | -16.1% | ||
| Q3 24 | — | -8.2% | ||
| Q2 24 | -124.7% | -17.5% | ||
| Q1 24 | -448.8% | -18.8% |
| Q4 25 | 124.0% | -3.4% | ||
| Q3 25 | 122.5% | -6.6% | ||
| Q2 25 | 23.4% | -1.5% | ||
| Q1 25 | 127.4% | -16.8% | ||
| Q4 24 | -117.5% | -17.2% | ||
| Q3 24 | 211.7% | -6.9% | ||
| Q2 24 | -81.9% | -17.2% | ||
| Q1 24 | -324.1% | -18.6% |
| Q4 25 | $0.45 | $-0.02 | ||
| Q3 25 | $0.36 | $-0.04 | ||
| Q2 25 | $-0.04 | $-0.01 | ||
| Q1 25 | $0.33 | $-0.08 | ||
| Q4 24 | $-0.46 | $-0.10 | ||
| Q3 24 | $0.36 | $-0.04 | ||
| Q2 24 | $-0.29 | $-0.10 | ||
| Q1 24 | $-0.75 | $-0.10 |
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 | $25.4M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $51.0M |
| Total Assets | $12.6B | $63.6M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $25.4M | ||
| Q3 25 | $185.3M | $26.0M | ||
| Q2 25 | $160.4M | — | ||
| Q1 25 | $177.1M | — | ||
| Q4 24 | $167.4M | $30.7M | ||
| Q3 24 | $195.1M | — | ||
| Q2 24 | $235.5M | — | ||
| Q1 24 | $226.9M | — |
| 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 | $51.0M | ||
| Q3 25 | $1.4B | $51.3M | ||
| Q2 25 | $1.4B | $53.0M | ||
| Q1 25 | $1.4B | $53.7M | ||
| Q4 24 | $1.4B | $64.9M | ||
| Q3 24 | $1.4B | $72.5M | ||
| Q2 24 | $1.4B | $75.0M | ||
| Q1 24 | $1.5B | $80.3M |
| Q4 25 | $12.6B | $63.6M | ||
| Q3 25 | $12.4B | $60.0M | ||
| Q2 25 | $10.6B | $62.5M | ||
| Q1 25 | $10.0B | $62.0M | ||
| Q4 24 | $9.2B | $68.0M | ||
| Q3 24 | $8.9B | $72.9M | ||
| Q2 24 | $8.2B | $72.8M | ||
| Q1 24 | $7.4B | $85.1M |
| 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 | $-507.0K |
| Free Cash FlowOCF − Capex | $125.9M | — |
| FCF MarginFCF / Revenue | 291.6% | — |
| Capex IntensityCapex / Revenue | 18.9% | — |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-507.0K | ||
| Q3 25 | $6.9M | $116.0K | ||
| Q2 25 | $39.2M | $-1.4M | ||
| Q1 25 | $25.8M | $-2.9M | ||
| Q4 24 | $14.1M | $-2.0M | ||
| Q3 24 | $-922.0K | $3.9M | ||
| Q2 24 | $-993.0K | $282.0K | ||
| Q1 24 | $-13.1M | $-3.2M |
| Q4 25 | $125.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-10.6M | — | ||
| Q3 24 | $-8.6M | — | ||
| Q2 24 | $-8.6M | — | ||
| Q1 24 | $-19.1M | — |
| Q4 25 | 291.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -39.6% | — | ||
| Q3 24 | -42.3% | — | ||
| Q2 24 | -44.9% | — | ||
| Q1 24 | -107.0% | — |
| Q4 25 | 18.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 92.3% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 39.7% | — | ||
| Q1 24 | 33.5% | — |
| 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% |
ZVIA
Segment breakdown not available.
