Axos Financial, Inc.
For the period ended Jun 30, 2025. Filed Aug 21, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Aug 21, 2025
AX$92.17-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| AXOS FINANCIAL, INC. | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| Fiscal Year Ended June 30, | |||
| (Dollars in thousands) | 2025 | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $432,908 | $450,008 | $307,165 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 29,019 | 27,086 | 23,387 |
| Other accretion and amortization | (108,076) | (58,275) | (1,616) |
| Stock-based compensation expense | 41,971 | 35,194 | 26,100 |
| Trading activity | (296) | 405 | 1,000 |
| Provision for credit losses | 55,745 | 32,500 | 24,250 |
| Deferred income taxes | (27,956) | 33,134 | (19,586) |
| Origination of loans held for sale | (199,845) | (197,305) | (160,607) |
| Unrealized and realized gains on loans held for sale | (9,596) | (8,639) | (7,999) |
| Proceeds from sale of loans held for sale | 195,202 | 209,503 | 149,091 |
| Change in the fair value of servicing rights | 2,605 | (2,326) | 634 |
| Gain on FDIC Loan Purchase | — | (92,397) | — |
| Gain on repurchase of subordinated notes | (729) | (973) | — |
| Net change in assets and liabilities which provide (use) cash: | |||
| Securities borrowed | (72,184) | 67,127 | 204,641 |
| Customer, broker-dealer and clearing receivables | (12,692) | 134,046 | 43,342 |
| Other assets | 18,506 | (114,040) | (11,984) |
| Securities loaned | 65,249 | (85,655) | (314,568) |
| Customer, broker-dealer and clearing payables | 49,479 | (144,350) | (66,177) |
| Accounts payable and other liabilities | 31,021 | 20,434 | (367) |
| Net cash provided by (used in) operating activities | 490,331 | 305,477 | 196,706 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of available-for-sale securities | (22,382) | (9,612) | (32,669) |
| Proceeds from sale and repayment of available-for-sale securities | 100,316 | 106,249 | 57,989 |
| Purchase of stock of regulatory agencies | (12,449) | — | (108,724) |
| Proceeds from redemption of stock of regulatory agencies | — | — | 108,724 |
| Net change in loans held for investment | (2,175,449) | (2,683,460) | (2,401,055) |
| Proceeds from sale of loans originally classified as held for investment | 440,115 | 39,159 | 14,185 |
| Proceeds from sale of other real estate owned and repossessed assets | 2,210 | 4,757 | 4,167 |
| Proceeds from BOLI claim settlement | — | — | 2,778 |
| Purchase of BOLI policies | (100,000) | — | — |
| Acquisition of business activity, net of cash acquired | — | — | (5,531) |
| Purchases of furniture, equipment, software and intangibles | (54,213) | (35,961) | (30,215) |
| Purchases of other investments | (19,296) | (12,401) | (9,035) |
| Distributions received from other investments | 81 | 1,989 | 288 |
| Net cash provided by (used in) investing activities | (1,841,067) | (2,589,280) | (2,399,098) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Net increase in deposits | 1,470,326 | 2,236,109 | 3,176,686 |
| Repayments of the Federal Home Loan Bank term advances | (30,000) | — | (27,500) |
| Net (repayment) proceeds of other borrowings | — | (27,200) | (84,300) |
| Payments related to settlement of restricted stock units | (27,640) | (16,192) | (6,144) |
| Purchase of treasury stock | (58,203) | (96,286) | (48,963) |
| Repurchase of subordinated notes | (13,169) | (8,938) | — |
| Net cash provided by (used in) financing activities | 1,341,314 | 2,087,493 | 3,009,779 |
| AXOS FINANCIAL, INC. | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| Fiscal Year Ended June 30, | |||
| (Dollars in thousands) | 2025 | 2024 | 2023 |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (9,422) | (196,310) | 807,387 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year | $2,185,776 | $2,382,086 | $1,574,699 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of year | $2,176,354 | $2,185,776 | $2,382,086 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Interest paid on interest-bearing liabilities | $687,244 | $698,956 | $368,311 |
| Income taxes paid | 153,689 | 200,809 | 131,365 |
| Transfers to other real estate and repossessed vehicles from loans held for investment | 8,778 | 4,472 | 12,664 |
| Transfers from loans held for investment to loans held for sale | 432,835 | 39,159 | 14,185 |
| Transfers from loans held for sale to loans held for investment | 12,530 | 2,783 | 690 |
| Operating lease liabilities from obtaining right of use assets | 4,491 | 6,330 | 3,400 |
| Non-cash LIHTC investments | 25,060 | 37,495 | — |
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