The earnings call for Axos Financial highlighted strong loan growth, net interest margin expansion, and a positive outlook from tax changes. However, there were challenges such as a one-time tax impairment and increased noninterest expenses. Overall, the highlights outweigh the lowlights.

Company Guidance -

Q1 2026

In the fourth quarter of fiscal 2025, Axos Financial reported strong financial performance, with notable metrics including $856 million in net loan growth, a 6-basis-point increase in net interest margin, and an 18% year-over-year increase in book value per share. The company achieved a 17% return on average common equity and a 1.9% return on assets. Net interest income for the quarter was $280 million, reflecting a 7.7% increase from the previous year. Total on-balance sheet deposits rose by 7.6% year-over-year to $21 million. Despite a 3% increase in total noninterest expenses from the prior quarter, cost management remained effective. The company's net income was approximately $110.7 million, with diluted EPS of $1.92. Axos also highlighted a $12 million pretax gain from multifamily loan sales and a noncash deferred tax impairment of $5.5 million. The company repurchased $31 million of common stock at an average price of $59 per share. Axos maintained a diversified funding mix across various business verticals, with noninterest-bearing deposits reaching approximately $3 billion. Looking ahead, the company anticipates continued organic loan growth in the mid- to high single-digit range for fiscal 2026, supported by a robust loan pipeline and solid credit quality. Additionally, Axos expects a reduction in income tax rate by 3 percentage points starting in September 2025, enhancing net income and EPS in the future.

Strong Loan Growth

Axos Financial achieved net loan growth of $856 million for the quarter ended June 30, 2025, representing a 4.2% increase linked quarter or 16% annualized.

Net Interest Margin Expansion

The net interest margin expanded by 6 basis points to 4.84% for the quarter ended June 30, 2025.

Increase in Book Value Per Share

There was an 18% year-over-year increase in book value per share.

Net Interest Income Growth

Net interest income was $280 million for the quarter, up 7.7% from the $260 million in the prior year period.

Improvement in Nonaccrual Loans

Total nonaccrual loans declined by $15 million linked quarter, improving the nonaccrual loans to total loans ratio by 89 basis points.

Asset Growth in Axos Clearing

Total assets under custody increased from $37.1 billion to $39.4 billion, with net new assets for the custody business increasing by $215 million.

Positive Impact of California Tax Change

A change in the California income tax calculation is expected to reduce the tax rate by 3 percentage points starting in fiscal 2026.

Axos Financial (AX) Earnings, Revenues Date & History

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AX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2026 (Q1)	1.92 / -	1.93	―	―	―
Jul 30, 2025	2025 (Q4)	1.78 / 1.92	1.8	6.67% (+0.12)
Apr 30, 2025	2025 (Q3)	1.74 / 1.81	1.91	-5.24% (-0.10)
Jan 28, 2025	2025 (Q2)	1.75 / 1.80	2.62	-31.30% (-0.82)
Oct 30, 2024	2025 (Q1)	1.79 / 1.93	1.38	39.86% (+0.55)
Jul 30, 2024	2024 (Q4)	1.80 / 1.80	1.46	23.29% (+0.34)
Apr 30, 2024	2024 (Q3)	1.70 / 1.91	1.32	44.70% (+0.59)
Jan 30, 2024	2024 (Q2)	1.40 / 2.62	1.35	94.07% (+1.27)
Oct 26, 2023	2024 (Q1)	1.35 / 1.38	0.97	42.27% (+0.41)
Jul 27, 2023	2023 (Q4)	1.27 / 1.46	0.96	52.08% (+0.50)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$85.29	$86.35	+1.24%
Apr 30, 2025	$63.48	$65.50	+3.18%
Jan 28, 2025	$72.40	$69.33	-4.24%
Oct 30, 2024	$66.49	$67.72	+1.85%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.