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Axos Financial, Inc. (AX) Q4 2025 10-Q Quarterly Report

Filed: Jan 29, 2026Period ending Dec 31, 2025
Financials
Savings Institution, Federally CharteredSEC EDGAR
Axos Financial, Inc. Overview

Axos Financial, Inc. (AX) 10-Q quarterly report for Q4 2025, filed with SEC EDGAR on Jan 29, 2026 for the fiscal period ending Dec 31, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Axos Financial, Inc. Q4 2025 10-Q Analysis

Management Discussion & Analysis

  • • Revenue $385.1M, up 34.4% YoY ($287.9M in Q4 2024, calculated from net interest + non-interest income)
  • • Net interest income $331.7M (+18.4% YoY); net interest margin 4.94% vs 4.83% YoY; banking segment income before tax $186.8M vs $152.9M YoY
  • • Banking Segment best performer: net interest income up 18.7% YoY; Securities Segment best non-interest income $30.2M up 4.1% YoY; non-interest expense increased 27% to $184.6M
  • • Cash: Total deposits $23.2B (+16.5% YoY); secured financings $691.5M new; stockholders' equity $2.93B (+16.1% YoY)
  • • Outlook: Provision for credit losses rose to $25M from $12.2M YoY, reflecting loan growth and macroeconomic factors; effective tax rate declined to 26.8% from 30.4% due to tax law changes

Risk Factors

  • • New acquisition risk: $1.0B loans and leases acquired from Verdant Commercial Capital on Sept 30, 2025, including $211M Purchased Credit Deteriorated (PCD) assets
  • • Updated operational risk: expanded equipment leasing business increasing asset base by $212.6M in operating leases from Verdant acquisition
  • • Compliance risk: Bank subject to direct CFPB supervision as depository with over $10B assets, increasing regulatory scrutiny
  • • Market risk: competitive pressures in digital banking and securities services could impact client acquisition and fee income growth
  • • Financial risk: $28.2B total assets with risk concentration from $1.0B newly acquired loan portfolio requiring proactive credit risk management

Axos Financial, Inc. Q4 2025 Quarterly Financials
XBRL

Revenue

$514M

▲ +12.7% YoY▲ +10.3% QoQ

Net Income

$128M

▲ +22.6% YoY▲ +14.3% QoQ

Net Margin

25.0%

▲ +203bp YoY▲ +86bp QoQ

ROE

4.4%

▲ +23bp YoY

Total Assets

$28.2B

▲ +18.9% YoY

EPS (Diluted)

$2.23

▲ +24.6% YoY▲ +14.9% QoQ

Operating Cash Flow

$104M

▼ -35.9% YoY▼ -12.1% QoQ

Source: XBRL data from Axos Financial, Inc. Q4 2025 10-Q filing on SEC EDGAR. All figures in USD.

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