Quick answer: latest quarter results, by ticker or company name

Reported Q: Q3 2024 Rev YoY: +40.5% EPS YoY: +45.9% Move: -2.42%

Axos Financial Inc

$86.14 -2.42%

Exchange NYSE Sector Financial Services Industry Banks Regional

Q3 2024

Published: Apr 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AX

Reported

Report Date

Apr 30, 2024

Quarter Q3 2024

Revenue

472.27M

YoY: +40.5%

EPS

1.91

YoY: +45.9%

Market Move

-2.42%

Previous quarter: N/A

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Earnings Highlights

Revenue of $472.27M up 40.5% year-over-year
EPS of $1.91 increased by 45.9% from previous year
Gross margin of 60.2%
Net income of 110.72M
"We delivered outstanding results, generating double-digit year-over-year growth in earnings per share, book value per share, and ending loan balances for a seventh consecutive quarter." - Greg Garrabrants

Company AX

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Mar 7, 2026

Executive Summary

Axos Financial delivered a solid Q3 2024, marking another quarter of double-digit earnings growth and continued loan and deposit expansion. Net income reached $111 million with diluted EPS of $1.91, up 38.7% and 45% respectively year over year, while ending loans rose 2.6% sequentially to $18.7 billion. Net interest margin (NIM) stood at 4.87%, benefiting from balance sheet liquidity and a favorable mix, including a one-time 3 bp lift from an FDIC loan purchase. Management highlighted ongoing organic loan growth in non-real estate lender finance, single-family warehouse and fund finance, supported by broad-based deposit growth of roughly $0.9 billion in the quarter (a 20% annualized pace).

Key Performance Indicators

Revenue

Increasing

472.27M

QoQ: 12.33% | YoY: 40.46%

Gross Profit

Increasing

284.31M

60.20% margin

QoQ: 18.02% | YoY: 27.85%

Operating Income

Increasing

155.54M

QoQ: -28.45% | YoY: 35.63%

Net Income

Increasing

110.72M

QoQ: -27.05% | YoY: 38.66%

EPS

Increasing

1.94

QoQ: -26.79% | YoY: 45.86%

Revenue Trend

Margin Analysis

Financial Highlights

Q3 2024 highlights and drivers:
- Revenue: $472.268 million, up 40.5% YoY and 12.3% QoQ.
- Gross profit: $284.31 million, up 27.9% YoY and 18.0% QoQ; gross margin ~60.2%.
- Operating income: $155.54 million, up 35.6% YoY; QoQ decline of 28.5% due to seasonality in non-interest expenses.
- Net income: $110.72 million, up 38.7% YoY; EPS (diluted) $1.91, up 45% YoY; EPS (reported) $1.94.
- Net interest margin (NIM): 4.87% consolidated; banking NIM 4.92%; above guidance of 4.25%–4.35%.
- Ended loans: $18.7 billion, up 2.6% QoQ (10.4% annualized).
- Deposits: up ~$900 million in the quarter; total deposits diversified and non-interest bearing deposits ~ $2.8 billion.
- Efficiency & cash flow: Operating cash flow $115.8 million; free cash flow $107.3 million; net change in cash +$582.2 million; cash at end of period $2.345 billion.
- Credit: NCOs annualized 7 bps; NPLs remain well-contained across CRE and multifamily portfolios; loan mix is biased toward floating/adjustable-rate and shorter-duration exposures.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	472.27M	40.46%	12.33%
Gross Profit	284.31M	27.85%	18.02%
Operating Income	155.54M	35.63%	-28.45%
Net Income	110.72M	38.66%	-27.05%
EPS	1.94	45.86%	-26.79%

Key Financial Ratios

Gross Profit Margin

Excellent

93.00%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Excellent

32.60%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

23.20%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Weak

0.49%

Return on assets suggests inefficient capital allocation

Return on Equity

Fair

5.04%

Return on equity is acceptable but below top-tier companies

Current Ratio

Concern

0.79

Current ratio below safe levels, potential liquidity risk

Debt to Equity

Conservative

0.28

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

Value

6.74x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Fair Value

1.36x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q3 2025	461.92	1.81	-2.2%	View
Q2 2025	479.57	1.80	+14.1%	View
Q1 2025	508.56	1.93	+28.9%	View
Q4 2024	480.45	1.80	+27.9%	View
Q3 2024	472.27	1.91	+40.5%	View

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Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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Q3 2024 Reports in Financial Services Sector

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Sector Analysis: Financial Services

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