Axos Financial ( (AX) ) has released its Q3 earnings. Here is a breakdown of the information Axos Financial presented to its investors.
Axos Financial, Inc. is a diversified financial services company that operates primarily through its subsidiaries, Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., offering consumer and business banking products, securities clearing services, and digital investment advisory services across the United States.
In its third quarter fiscal year 2025 earnings report, Axos Financial reported a net income of $105.2 million and a diluted earnings per share (EPS) of $1.81. This reflects a decrease compared to the same quarter last year, where net income was $110.7 million and diluted EPS was $1.91. Despite these declines, the company achieved significant net loan growth, marking its strongest quarter for fiscal year 2025.
Key financial metrics from the report include a 5.3% increase in net interest income to $275.5 million, driven by lower rates paid on deposit balances. Non-interest income saw a slight increase to $33.4 million, attributed to higher banking and service fees, although this was partially offset by lower mortgage banking income. The company also reported a rise in non-interest expenses, primarily due to increased salaries and regulatory fees.
Axos Financial’s balance sheet showed growth, with total assets increasing by 4.9% to $24.0 billion and total deposits rising by 5.4% annualized to $20.1 billion. The company’s credit quality improved, with non-performing assets decreasing to 0.79% of total assets. Additionally, Axos repurchased approximately $58 million of common stock during and shortly after the quarter.
Looking ahead, Axos Financial’s management remains focused on leveraging its strong loan growth and maintaining credit quality. The company’s strategic initiatives in asset-based lending and equipment leasing are expected to continue driving its performance in the coming quarters.