Axos Financial, Inc.

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

AX$92.17-1.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows (unaudited)

AXOS FINANCIAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Three Months Ended
	September 30,
(Dollars in thousands)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$112,352	$112,340
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	8,341	7,450
Other accretion and amortization	(21,699)	(37,358)
Stock-based compensation expense	10,826	10,239
Trading activity	116	(241)
Provision for credit losses	17,255	14,000
Deferred income taxes	38,919	464
Origination of loans held for sale	(47,122)	(69,570)
Unrealized and realized gains on loans held for sale	(783)	(2,881)
Proceeds from sale of loans held for sale	44,922	74,532
Change in the fair value of servicing rights	1,207	1,765
Gain on repurchase of subordinated notes	—	(604)
Net change in assets and liabilities which provide (use) cash:
Securities borrowed	(43,122)	(17,114)
Customer, broker-dealer and clearing receivables	(10,375)	(22,746)
Other assets	(52,699)	4,243
Securities loaned	65,194	21,706
Customer, broker-dealer and clearing payables	35,215	14,858
Accounts payable and other liabilities	(40,114)	(40,295)
Net cash provided by operating activities	118,433	70,788
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale securities	—	(16,000)
Proceeds from sale and repayment of available-for-sale securities	8,569	21,564
Purchase of stock of regulatory agencies	—	(12,446)
Net change in loans held for investment	(637,164)	(48,333)
Proceeds from sale of loans originally classified as held for investment	82,304	27,800
Proceeds from sale of other real estate owned and repossessed assets	260	2,202
Acquisition of business, net of cash acquired	(474,448)	—
Purchases of furniture, equipment, software and intangibles	(9,149)	(17,770)
Purchases of other investments	(3,826)	(2,558)
Distributions received from other investments	75	—
Net cash used in investing activities	(1,033,379)	(45,541)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	1,435,210	614,112
Payments related to settlement of restricted stock units	(8,473)	(9,476)
Repurchase of subordinated notes	—	(11,803)
Payment of debt issuance costs	(2,550)	—
Proceeds from issuance of subordinated notes	200,000	—
Net cash provided by financing activities	1,624,187	592,833
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	709,241	618,080
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year	$2,176,354	$2,185,776
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period	$2,885,595	$2,803,856
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid on interest-bearing liabilities	173,499	192,306
Income taxes paid	79,736	40,158
Transfers to other real estate and repossessed vehicles from loans held for investment	493	585
Transfers from loans held for investment to loans held for sale	82,279	28,140
Transfers from loans held for sale to loans held for investment	537	—
Operating lease liabilities from obtaining right of use assets	—	212
Non-cash Contingent Consideration	30,810	—

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