Recently, magnetic gearboxes (MGBs) are attracting more followers as they offer great benefits over conventional mechanical gearboxes including contactless operation, lower noise, lower vibration, and they are maintenance-free. Improving MGBs performance is one of the popular topics under research. Axial MGB is one of the magnetic gear topologies that is suitable for applications which require a physical isolation between the input and output shafts. Unlike radial MGB, axial MGB is relatively simple, has an excellent reliability, and has a relatively low axial force magnitude exerted on the high and low speed rotors. In this paper, an axial MGB with an additional electric power output port is proposed. A conventional 14/4 axial MGB is equipped with Q-phase coils fitted around the ferromagnetic pole-pieces which represent a third output electric port used to sink extra power transmitted from one rotor side to the other side. This extracted output electric power can be used to feed an electrical load while transmitting a mechanical power without using an extra electrical generator. The proposed system is investigated using 3D finite element method analysis.