PARENT-ONLY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Jun. 30, 2025

Condensed Financial Information Disclosure [Abstract]

The following tables present Axos Financial, Inc. (Parent company only) financial information and should be read in conjunction with the Consolidated Financial Statements of the Company and the other notes to the Consolidated Financial Statements. Adjustments to investment in subsidiaries, stockholders’ equity and equity in undistributed earnings of subsidiaries have been made to eliminate an intercompany transaction between multiple subsidiaries and the Parent company.

CONDENSED BALANCE SHEETS


	At June 30,
(Dollars in thousands)	2025		2024
ASSETS
Cash and cash equivalents	$	185,865	$	109,610



Securities	68,749		78,321

Advances to non-bank subsidiaries	—		3,000
Other assets	126,611		68,321

Investment in bank subsidiaries	2,477,715		2,241,746
Investment in non-bank subsidiaries	352,630		216,164
Total assets	$	3,211,570	$	2,717,162
LIABILITIES AND STOCKHOLDERS’ EQUITY
Borrowings, subordinated notes and debentures	$	312,671	$	325,679



Accounts payable and other liabilities	218,222		100,887
Total liabilities	530,893		426,566
Stockholders’ equity	2,680,677		2,290,596
Total liabilities and stockholders’ equity	$	3,211,570	$	2,717,162

Schedule of Condensed Statements of Income

CONDENSED STATEMENTS OF INCOME


	Fiscal Year Ended June 30,
(Dollars in thousands)	2025		2024		2023
Interest income	$	7,388	$	4,279	$	1,656
Interest expense	14,827		15,990		15,909
Net interest (expense) income	(7,439)		(11,711)		(14,253)
Provision for loan losses	2,575		(184)		—
Net interest (expense) income, after provision for credit losses	(10,014)		(11,527)		(14,253)
Non-interest income (loss)	15,727		13,247		11,448
Non-interest expense and tax benefit (expense)1	56,078		31,366		15,866
Income (loss) before dividends from subsidiary and equity in undistributed income of subsidiaries	(50,365)		(29,646)		(18,671)
Dividends from bank subsidiaries	160,000		120,000		45,000
Dividends from non-bank subsidiaries	35,000		26,000		13,750
Equity in undistributed earnings of subsidiaries	288,273		333,654		267,086
Net income	$	432,908	$	450,008	$	307,165
Comprehensive income	$	435,722	$	454,152	$	303,488

1 Includes tax benefit/(expense) of $(10.3) million, $6.4 million, and $11.9 million for the fiscal years ended June 30, 2025, 2024, and 2023, respectively.

Schedule of Statements of Cash Flows

CONDENSED 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 used in operating activities:
Depreciation, amortization and accretion	24,499		9,532		12,383
Stock-based compensation expense	41,970		35,194		26,100
Equity in undistributed earnings of subsidiaries	(288,273)		(333,654)		(267,086)
Decrease (increase) in other assets	(4,235)		15,849		(3,448)
Increase (decrease) in other liabilities	111,982		(17,922)		(1,069)
Net cash provided by operating activities	318,851		159,007		74,045
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investments	(1,001)		(20,351)		—
Purchases of loans, net of discounts or premiums	(55,664)		—		—



Proceeds from principal repayments on loans	5,051		5,000		25,000

Purchases of furniture, equipment, software and intangibles	(18,650)		(5,378)		(805)
Investment in subsidiaries	(73,320)		(23,200)		(25,825)
Net cash used in investing activities	(143,584)		(43,929)		(1,630)
CASH FLOWS FROM FINANCING ACTIVITIES:




Tax payments related to the settlement of restricted stock units	(27,640)		(16,192)		(6,144)
Repurchase 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	(99,012)		(121,416)		(55,107)
NET CHANGE IN CASH AND CASH EQUIVALENTS	76,255		(6,338)		17,308
CASH AND CASH EQUIVALENTS—Beginning of year	109,610		115,948		98,640
CASH AND CASH EQUIVALENTS—End of year	$	185,865	$	109,610	$	115,948