Short answer
Axos Financial, Inc. (AX) filed its fiscal 2026 10-K annual report with the SEC on Aug 20, 2026. It reported revenue of $81M (+23.5% year over year) and net income of $490M.
- Top risk flagged: Regulatory risk from US Treasury FinCEN enforcement of Bank Secrecy Act/AML laws, potential fines and restrictions on dividends or acquisitions
FY2026 key financial metrics · XBRL
- Revenue
- $81M
- +23.5% YoY
- Net income
- $490M
- +13.3% YoY
- EPS (diluted)
- $8.48
- +14.1% YoY
- ROE
- 15.5%
- −0.7 pp YoY
- Operating cash flow
- $558M
- +13.7% YoY
Source: XBRL data from the Axos Financial, Inc. (AX) FY2026 10-K on SEC EDGAR. USD.
Axos Financial, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Technology-driven financial services with $30.0B assets; digital banking, clearing, custody, and investment advisory solutions
- Emphasis on digital and scalable deposit-gathering via online, mobile, and affinity partner channels
- Bank assets under custody/administration at Axos Clearing increased to $47.8B, expanding institutional custody services
- Employee base at 2,191 full-time, no union representation, with investments in talent development and tech tools
- Fully phased-out CECL capital adjustments as of July 1, 2025; capital ratios exceed "well-capitalized" minimums at June 30, 2026
Management Discussion & Analysis
- Revenue: Net interest income $1,246.9M up 10.5% YoY; Non-interest income $233.6M up 78.2% YoY; Total deposits $24.6B up 18%; Loans net $25.6B up 21.6% YoY
- Profitability: Net income $490.4M up 13.3% YoY; Diluted EPS $8.48 vs $7.43; Adjusted EPS $8.74 vs $7.50; Operating margin (Income before tax / Revenue approx.) 33.9% vs 32.9%
- Segment performance: Banking Segment income before tax $697.3M (+10.5%), Securities Segment $15.4M (-53.3%); Banking net interest income $1.23B; Securities net interest income $35.7M
- Cash flow & Capital: Share repurchases $22.0M common stock; Dividends not specified; Capital expenditures include $125M commercial office purchase; Tier 1 leverage 9.94% (Company), 9.24% (Bank)
- Outlook / Risks: Management sees stable liquidity; Acquisition-driven growth including Verdant, Jenius deposits; Key risk from credit losses, provision up $37.6M YoY; Effective tax rate lowered to 24.17% from 29.42%
Risk Factors
- Regulatory risk from US Treasury FinCEN enforcement of Bank Secrecy Act/AML laws, potential fines and restrictions on dividends or acquisitions
- Macroeconomic risk of California and New York real estate downturns impacting 70.9% of real estate loan portfolio value at 6/30/26, increasing loan defaults
- Supply chain/operational risk from reliance on third-party domestic and international vendors, risks of service disruptions and geopolitical instability
- Competitive risk from FinTechs and large internet-based banks eroding deposits and fee income, requiring continued tech innovation and customer acquisition
- Financial risk from key-person dependency on senior management like CEO Gregory Garrabrants, risking disruption if such executives depart unexpectedly
Generated from the filing text; verify against the original. How to read a 10-K
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