On this page of StockholderLetter.com we present the latest annual shareholder letter from Axos Financial, Inc. — ticker symbol AX. Reading current and past AX letters to shareholders can bring important insights into the investment thesis.
2025 Annual Report Shaping Our Success

Our Position & Progress 2015 2010 2006 DOT-COM BUBBLE BURST & HOUSING BOOM 2025 2020 Total consolidated assets Earnings per share Stock price Return on equity 2000 A unified look at the forces around us and the movement we ve made. $737,835 $0.09 $2.00 4.56% GREAT FINANCIAL CRISIS $1,421,081 $0.56 $3.53 21.17% FINTECH PROLIFERATION $5,823,719 $1.34 $26.43 18.34% REGULATORY OVERHAUL $13,851,900 $2.98 $22.08 15.65% COVID-19 & REGIONAL BANKING CRISIS $24,783,078 $7.43 $76.04 17.30% FINTECH MATURATION Commercial Banking Build-Out Expansion into Securities Custody H&R Block & Nationwide Partnerships Zenith Business Management Acquisition Axos Bank Founded Universal Digital Bank Developed Fund Banking Expansion Single-Family Mortgage Expansion Clearing & Managed Portfolios Expansion FDIC Loan Purchase Costco Partnership Axos Fiduciary Services Acquisition White Label Banking for RIAs Axos Bank Headquarters: San Diego, CA Las Vegas, NV | Los Angeles, CA | Salt Lake City, UT Omaha, NE | Edison, NJ | Overland Park, KS Centennial, CO | Chicago, IL | New York, NY | Irvine, CA Menlo Park, CA | Woodland Hills, CA | Manila, Philippines
Scan to see how our wave of growth began and where we re steering it next.

 • shareholder letter icon 9/25/2025 Letter Continued (Full PDF)
 • stockholder letter icon 9/27/2023 AX Stockholder Letter
 • stockholder letter icon 9/25/2024 AX Stockholder Letter
 • stockholder letter icon More "Banking & Savings" Category Stockholder Letters
 • Benford's Law Stocks icon AX Benford's Law Stock Score = 96


AX Shareholder/Stockholder Letter Transcript:

2025 Annual Report
Shaping
Our Success


Our Position & Progress
2015
2010
2006
DOT-COM BUBBLE BURST
& HOUSING BOOM
2025
2020
Total consolidated assets
Earnings per share
Stock price
Return on equity
2000
A unified look at the forces around
us and the movement we   ve made.
$737,835
$0.09
$2.00
4.56%
GREAT FINANCIAL CRISIS
$1,421,081
$0.56
$3.53
21.17%
FINTECH PROLIFERATION
$5,823,719
$1.34
$26.43
18.34%
REGULATORY OVERHAUL
$13,851,900
$2.98
$22.08
15.65%
COVID-19 & REGIONAL
BANKING CRISIS
$24,783,078
$7.43
$76.04
17.30%
FINTECH MATURATION
Commercial Banking Build-Out
Expansion into Securities Custody
H&R Block & Nationwide Partnerships
Zenith Business Management Acquisition
Axos Bank Founded
Universal Digital Bank Developed
Fund Banking Expansion
Single-Family Mortgage Expansion
Clearing & Managed Portfolios Expansion
FDIC Loan Purchase
Costco Partnership
Axos Fiduciary Services Acquisition
White Label Banking for RIAs
Axos Bank Headquarters: San Diego, CA
Las Vegas, NV | Los Angeles, CA | Salt Lake City, UT
Omaha, NE | Edison, NJ | Overland Park, KS
Centennial, CO | Chicago, IL | New York, NY | Irvine, CA
Menlo Park, CA | Woodland Hills, CA | Manila, Philippines

Scan to see how our wave of growth began   
and where we   re steering it next.




shareholder letter icon 9/25/2025 Letter Continued (Full PDF)
 

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