US Market News
1月前
Freedom Holding Corp (FRHC) Reports 2026 EarningsJune 1, 2026 5:44 PM
Business Wire Net Income increases to $153.3 million from $76.2 million; Revenue increases to $2.19 billion from $2.0 billion; Banking segment customers increase to 5,026,000 from 2,515,000; Brokerage segment customers increase to 858,000 from 683,000; Other segment customers increase to 1,105,000 from 605,000 Freedom Holding Corp. (the “Company”) (NASDAQ: FRHC), a multinational diversified financial services holding company with a presence in 22 countries, today reported financial results for fiscal year 2026, including revenue of $2.19 billion, and net income of $153.3 million for the 2026 fiscal year. Year ended Year ended March 31, 2026 Total revenue, net $2,191.3 million $2,004.2 million Income before income tax $226 million $104.6 million Net income $153.3 million $76.2 million Earnings per common share – basic $2.56 $1.28 Earnings per common share – diluted $2.51 $1.26 Fiscal Year ended March 31, 2026 Financial Overview
All comparisons are to the twelve months ended March 31, 2025 unless otherwise noted The Company reported total revenue, net of $2,191.3 million, as compared to $2,004.2 million. The increase was primarily attributable to the following: The Company’s net gain on trading securities was $158.8 million, an increase of $216.6 million, or 375%, primarily from sales of Kazakhstan sovereign and corporate debt securities. Sales of goods and services increased by $57.3 million, or 143%, to $97.4 million from $40.1 million, primarily the result of the Company’s expansion into the telecommunications sector and increased customer activity at Arbuz, online retail trade and e-commerce subsidiary. Net gain on derivatives was $66.8 million, an increase of $54.4 million, driven primarily by Freedom Bank KZ’s realized net gain of $40.9 million largely due to positive revaluation of currency swaps. Interest income was $882.5 million, an increase of $18.0 million, or 2%, primarily driven by increased margin loans to customers and continued expansion of Freedom Bank KZ's customer loan portfolio. Our net insurance revenue for fiscal 2026 was $402.4 million, representing a decrease of $168.8 million, or 29%, compared to fiscal 2025. This decrease was primarily driven by lower written insurance premiums, reflecting regulatory caps on agent commissions for bank and microfinance loan products, and by higher deferred profit liability issuance expense. Customer Growth The Company’s bank customers approximately doubled from 2.52 million to 5.03 million and retail brokerage accounts increased to 858,000, from 683,000 in the prior year. “Over the past few years, we have significantly expanded our customer base across brokerage, banking, and insurance by building a unified digital ecosystem,” said Timur Turlov, Freedom Chairman and CEO. “At the core of this growth is our SuperApp, which brings together essential financial services, including banking, insurance and lifestyle services in a single application. “The addition of attractive loyalty and referral programs, improvement and further diversification of our offerings within our SuperApp during fiscal 2026 has further supported customer adoption, increasing overall engagement within the ecosystem. Our mission is to provide our customers with the most convenient, seamless, and beneficial experience possible, engaging them across a broad range of digital products, each offered on terms designed to deliver maximum value and ease of use.” Freedom SuperApp In March 2026, monthly active users (MAU) climbed to 2.59 million, up from 1.02 million in March 2025, an increase of 154% year over year, while daily active users (DAU) averaged 634,578 compared with 183,000 in March 2025. Regional and Global Expansion One of the Company’s strategic goals is to build a network of banks, brokers, and digital financial infrastructure that connects markets across Central Asia, the Caucasus, and beyond. In this regard, in March 2026, the Company entered into an agreement to purchase approximately 99.32% of Turkish Bank A.S., a bank operating in Türkiye. Subject to completion of the transaction, the Company expects this bank may serve as a core platform for its financial services operations in Türkiye. The Company also plans to establish a fully operational brokerage business in Türkiye, subject to obtaining the required license from the Turkish financial regulator. External Social Projects During fiscal year 2026, the Company continued to support sports, education, and culture in the communities where it operates, including: Sports and chess — funding the Kazakhstan Chess Federation, hosting the World School Team Chess Championship and the "Chess in Education" Scientific Conference, launching construction of a football academy in Karaganda, sponsoring FC Zhenis and the youth teams of FC Shakhter, and supporting the inclusive "UNI FOOTBALL LEAGUE." Education — supporting "Teach for Qazaqstan," the Freedom Grants scholarship program, the IQanat Educational Fund, and student scholarships at Karagandy Buketov University. Culture — contributing to the renovation of Lermontov National Theatre in Almaty and the development of the Reception House in Astana. Additional highlights: Banking As of March 31, 2026, our Banking segment combined assets increased by 21% to $5,359.8 million, our loan portfolio increased by 29% to $2,045.3 million, our deposit portfolio increased by 46% to $2,522.8 million, and held-to-maturity securities increased by 552% to $429,423. Insurance Freedom Life recognized a net profit of approximately $32.9 million. As of March 31, 2026, Freedom Life held an approximately 7.4% market share in the Kazakhstan voluntary accident insurance and 19.3% of the pension annuity insurance segment in Kazakhstan, in each case according to the National Bank of Kazakhstan (NBK). Freedom Insurance recognized net profit of approximately $10.8 million in fiscal year 2026. According to the NBK, as of March 31, 2026, Freedom Insurance had an approximately 6.55% share of the total Kazakhstan general insurance market based on total assets and had an approximately 14.53% share of the Kazakhstan car owners liability insurance market based on insurance premiums received. Brokerage As of March 31, 2026 and 2025, we had approximately 858,000 and 683,000 total brokerage customer accounts respectively, of which more than 56% and 63% respectively had positive cash or asset account balances. Other The Other segment accounted for $172.8 million, or 8%, of our total revenue, net for the fiscal year ended March 31, 2026, mainly derived from online retail trade and e-commerce services, provision of payment processing services, retail online ticket sales and online aggregation of purchasing air and railway tickets. AI Data Center in Kazakhstan In November 2025, we signed a non-binding memorandum of understanding with the Kazakhstan Ministry of AI and Digital Development and NVIDIA Corporation with a view to develop a large-scale AI data center in Kazakhstan. This prospective growth project is expected to be implemented in phases. Employees As of March 31, 2026, we had 11,846 (11,627 full-time and 219 part-time) employees spanning 22 countries in the following regions: Central Asia - 10,830, Europe - 334, Middle East - 627, USA - 55. About Freedom Holding Corp. Freedom Holding Corp., a Nevada corporation, is a diversified financial services holding company conducting retail securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, mortgages, insurance, and consumer banking through its subsidiaries, operating under the name Freedom Finance in Europe and Central Asia, and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 11,000 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, International Trading System Limited, Armenia Stock Exchange, Kyrgyz Stock Exchange, the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange. Freedom Holding Corp.'s common shares are registered under the United States Securities Exchange Act of 1934 and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc. The Company has its main market of operations in Kazakhstan and has a presence in 22 countries. To learn more about Freedom Holding Corp., visit www.freedomholdingcorp.com. Cautionary Note Regarding Forward-Looking Statements This release, and any related statements, contains "forward-looking" statements within the meaning of section 21E of the United States Securities Exchange Act of 1934. All forward-looking statements are subject to uncertainty and changes in circumstances. In some cases, forward-looking statements can be identified by terminology such as "expect," "new," "plan," "strategy," "mission, " "seek," and "will," or the negative of such terms or other comparable terminology and include statements relating to our plans, intentions and expectations, regional and global expansion including our plans related to Turkish Bank A.S. and establishment of a fully operational brokerage business in Türkiye, the memorandum of understanding relating to AI data center in Kazakhstan and other non-historical statements. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions, and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include economic, business, and regulatory risks and other factors including those identified in under Risk Factors and elsewhere in the Company's periodic and current reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Website Disclosure Freedom Holding Corp. intends to use its website, https://ir.freedomholdingcorp.com, as a means for disclosing material non-public information and for complying with U.S. Securities and Exchange Commission Regulation FD and other disclosure obligation. FREEDOM HOLDING CORP.
CONSOLIDATED BALANCE SHEETS (All amounts in thousands of United States dollars, unless otherwise stated) March 31, 2026 March 31, 2025
(Recasted) ASSETS Cash and cash equivalents $ 966,115 $ 837,302 Restricted cash 1,246,312 807,468 Investment securities 3,342,561 2,814,733 Margin lending, brokerage and other receivables, net 4,690,782 3,319,145 Loans issued (including $21,321 and $188,445 to related parties) 2,077,606 1,595,435 Fixed assets, net 358,396 191,103 Intangible assets, net 73,319 54,186 Goodwill 51,099 49,093 Right-of-use asset 47,579 39,828 Insurance contract assets 36,849 37,183 Other assets, net (including $40,119 and $18,080 with related parties) 264,621 169,641 TOTAL ASSETS $ 13,155,239 $ 9,915,117 LIABILITIES AND SHAREHOLDERS' EQUITY Securities repurchase agreement obligations $ 1,024,923 $ 1,418,443 Customer liabilities 7,103,984 4,304,999 Margin lending and trade payables 689,641 1,322,241 Insurance contract liabilities 653,907 472,433 Current income tax liability 43,701 28,919 Debt securities issued 1,261,120 469,551 Lease liability 48,843 40,525 Liability arising from continuing involvement 554,594 503,705 Other liabilities 285,247 129,737 TOTAL LIABILITIES $ 11,665,960 $ 8,690,553 Commitments and Contingent Liabilities (Note 29) — — SHAREHOLDERS' EQUITY Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding — — Common stock - $0.001 par value; 500,000,000 shares authorized; 61,292,581 and 60,993,949 shares issued and outstanding as of March 31, 2026 and March 31, 2025, respectively 61 61 Additional paid in capital 314,657 246,610 Retained earnings 1,231,500 1,078,172 Accumulated other comprehensive loss (56,939 ) (100,396 ) TOTAL FRHC SHAREHOLDERS' EQUITY $ 1,489,279 $ 1,224,447 Non-controlling interest — 117 TOTAL SHAREHOLDERS' EQUITY $ 1,489,279 $ 1,224,564 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 13,155,239 $ 9,915,117 The accompanying notes are an integral part of these consolidated financial statements Years ended March 31, 2026 2025 (Recasted) 2024 (Recasted) Revenue: Fee and commission income (including $7,680, $4,725 and $65,972 from related parties) $ 489,765 $ 505,026 $ 440,333 Net gain/(loss) on trading securities 158,824 (57,810 ) 133,854 Interest income (including $12,703, $1,731 and $24,941 from related parties) 882,478 864,453 828,224 Net insurance revenue 402,396 571,224 245,122 Net gain on foreign exchange operations 67,680 51,684 72,245 Net gain/(loss) on derivatives 66,772 12,404 (103,794 ) Sales of goods and services 97,446 40,102 21,576 Other income 25,930 17,072 9,696 TOTAL REVENUE, NET 2,191,291 2,004,155 1,647,256 Expense: Fee and commission expense 218,565 346,502 154,716 Interest expense 489,036 535,895 501,111 Insurance claims and policyholder benefits, net of reinsurance 259,309 260,488 117,273 Payroll and bonuses 426,471 287,347 180,283 Professional services 46,258 28,924 34,238 Stock compensation expense 68,047 59,592 22,719 Advertising and sponsorship expense (including $27,151, $18,497, and $0 from related parties) 103,304 124,627 38,327 General and administrative expense 222,339 162,474 120,888 Allowance for expected credit losses 52,365 62,445 21,225 Cost of sales 79,632 31,278 17,538 TOTAL EXPENSE 1,965,326 1,899,572 1,208,318 INCOME BEFORE INCOME TAX 225,965 104,583 438,938 Income tax expense (72,637 ) (28,425 ) (60,419 ) NET INCOME 153,328 76,158 378,519 Less: Net loss attributable to non-controlling interest in subsidiary — (129 ) (588 ) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 153,328 $ 76,287 $ 379,107 OTHER COMPREHENSIVE INCOME Change in unrealized (loss)/gain on investments available-for-sale, net of tax effect (4,771 ) 4,364 6,196 Reclassification adjustment for net realized (gain)/loss on available-for-sale investments disposed of in the period, net of tax effect (4,937 ) 681 (3,209 ) Change in discount rate on liability for future policy benefits (881 ) 6,807 (4,811 ) Foreign currency translation adjustments 54,046 (104,102 ) 12,075 OTHER COMPREHENSIVE INCOME/(LOSS) 43,457 (92,250 ) 10,251 COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS $ 196,785 $ (16,092 ) $ 388,770 Less: Comprehensive loss attributable to non-controlling interest in subsidiary — (129 ) (588 ) COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 196,785 $ (15,963 ) $ 389,358 EARNINGS PER COMMON SHARE (In U.S. dollars): Earnings per common share - basic 2.56 1.28 6.43 Earnings per common share - diluted 2.51 1.26 6.39 Weighted average number of shares (basic) 59,992,357 59,393,629 58,958,363 Weighted average number of shares (diluted) 61,117,931 60,490,564 59,362,982 The accompanying notes are an integral part of these consolidated financial statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601134977/en/ Natalia Kharlashina
Public Relations
Freedom Holding Corp.
+7 701 364 1454
prglobal@ffin.kz Ramina Fakhrutdinova (KZ)
Public Relations
Freedom Finance JSC
+7 777 377 8868
pr@ffin.kz Media Contact for Freedom US Markets
Deborah Kostroun, Zito Partners
US Market News
5月前
Freedom Holding Corp. Reports Third Quarter Fiscal Year 2026 Financial ResultsFebruary 9, 2026 4:45 PM
Business Wire
Freedom Holding Corp. (the “Company”) (NASDAQ: FRHC), a multinational diversified financial services holding company with a presence in 21 countries, today announced financial results for the third quarter of fiscal year 2026 ended December 31, 2025.
Highlights during the three and nine months ended December 31, 2025 include the following:
Three months
ended
Nine months
ended
December 31, 2025
Total revenue, net
$628.6 million
$1,688.2 million
Income before income tax
$93.9 million
$194.9 million
Net income
$76.2 million
$145.4 million
Earnings per common share – basic
$1.27
$2.43
Earnings per common share – diluted
$1.25
$2.38
Customer Growth
The Company continued to grow its number of customers in several key areas.
Brokerage customers totaled 828,000 as of December, 31, 2025, an increase of 145,000 customers over the past nine months. Banking customers rose by two million customers, to 4.5 million customers. Customers for insurance and other segments rose by 8,000 and 92,000 customers respectively.
Three months ended December 31, 2025 Financial Overview
All comparisons are to the three months ended December 31, 2024, unless otherwise noted
The Company reported total revenues, net, of $628.6 million for the fiscal 2026 third quarter as compared to $664.6 million, reflecting higher net gain on foreign exchange operations, net gain on derivatives, interest income, sales of goods and services and other income offset by a decline in insurance premiums earned (net of reinsurance), lower net gain on trading securities, and fee and commission income.
For the three months ended December 31, 2025, we realized a net gain on foreign exchange operations of $45.8 million compared to a net gain of $3.9 million. The increase was primarily due to the gain from the revaluation of foreign currency.
For the three months ended December 31, 2025, we had net gain on derivatives of $26.5 million compared to a net gain of $11.9 million. The change was primarily driven by the revaluation of derivative positions at our subsidiary, which resulted in an unrealized net gain of $8.2 million for the three months ended December 31, 2025.
For the three months ended December 31, 2025, we had interest income of $228.8 million, representing an increase of $4.1 million, or 2%. The increase was primarily driven by a $24.1 million increase in interest income on loans to customers due to the increase of the loan portfolio. Additionally, interest income on held-to-maturity securities increased by $19.3 million due to the increase of the held-to-maturity portfolio. Interest income on margin loans to customers increased by $12.6 million, or 21% reflecting higher customer activity in margin lending. Increase in interest income was partially offset by decrease in interest income on trading securities.
For the three months ended December 31, 2025, we had insurance premiums earned, net of reinsurance of $106.9 million, a decrease of $70.5 million, or 40%. The decrease was primarily attributable to a $73.1 million, or 41%, decrease in written insurance premiums due to the regulatory cap on commissions to insurance agents for policies associated with bank and microfinance loan products, which reduced new business volumes during the period.
During the three months ended December 31, 2025, we had a realized gain on trading securities of $52.3 million. The gain primarily reflected our active portfolio management strategy, which mostly attributable to the sale of Kazakhstani corporate debts at favorable market prices following a short-term rally in the local debt market. However, we also incurred an unrealized net loss of $8.8 million during the same period due to the decline in the value of securities positions we held as of December 31, 2025.
Fee and commission income from banking services decreased by $27.4 million during the three months ended December 31, 2025 from $8.4 million for the three months ended December 31, 2024. The decrease was primarily driven by active use by our customers of a cashback-based loyalty program, with cashback amounts reflected as a reduction of banking service revenue.
Total expense was approximately $534.7 million in the fiscal 2026 third quarter compared to $566.3 million, driven by higher payroll and bonuses, general and administrative expense, cost of sales, professional services and stock compensation expense.
Net income was $76.2 million for the fiscal 2026 third quarter compared to $78.1 million.
Basic and diluted earnings per share were $1.27 and $1.25, respectively, compared to $1.32 and $1.29 per share, respectively, in last year’s third quarter.
Weighted average common shares outstanding used to compute diluted earnings per share for the quarter ended December 31, 2025 and 2024 were 61.1 million and 60.5 million, respectively.
Nine months ended December 31, 2025 Financial Overview
All comparisons are to the nine months ended December 31, 2024, unless otherwise noted
The Company reported total revenues, net, of $1,688.2 million for the fiscal 2026 third quarter as compared to $1,705.7 million, reflecting higher sale of goods and services, net gain on trading securities, net gain on derivatives, net gain on foreign exchange operations and other income offset by a decline in insurance premiums earned (net of reinsurance), lower interest income and fee and commission income.
During the nine months ended December 31, 2025, we had a realized gain on trading securities of $126.2 million, which is mostly attributable to Kazakhstani corporate debt securities sold during the nine months ended December 31, 2025. Also, we recognized an unrealized net gain of $21.1 million during the same period due to an increase in the value of securities positions we held as of December 31, 2025. The majority of the unrealized net gain is attributable to Kazakhstan sovereign bonds.
For the nine months ended December 31, 2025, we had net gain on derivatives of $38.8 million compared to a net gain of $30.7 million. The change was primarily attributable to the increase in realized gain from $2.5 million for the nine months ended December 31, 2024 to $8.6 million for the nine months ended December 31, 2025 due to the increased volume of swap turnover between two periods.
For the nine months ended December 31, 2025, we realized a net gain on foreign exchange operations of $32.9 million compared to a net gain of $18.5 million. The change was primarily due to the $54.9 million gain on dealing transactions.
For the nine months ended December 31, 2025, we had insurance premiums earned, net of reinsurance of $385.4 million, a decrease of $81.8 million, or 18%. The decrease was primarily attributable to a $88.5 million, or 18%, decrease in written insurance premiums due to the regulatory cap on commissions to insurance agents for policies associated with bank and microfinance loan products, which reduced new business volumes during the period.
For the nine months ended December 31, 2025, we had interest income of $639.0 million, representing a decrease of $22.0 million, or 3%. The decrease was primarily driven by a $176.6 million, or 57%, decrease in interest income on trading securities. This decrease was primarily due to a lower volume of trading securities held during the period.
Fee and commission income from banking services decreased by $60.1 million during the nine months ended December 31, 2025 from $12.7 million. The decrease was primarily driven by active use by our customers of a cashback-based loyalty program, with cashback amounts reflected as a reduction of banking service revenue.
Total expense was approximately $1,493.2 million for the nine months ended December 31, 2025, compared to $1,437.3 million, driven by higher payroll and bonuses, cost of sales, insurance claims incurred, net of reinsurance and professional services.
Net income was $145.4 million for the nine months ended December 31, 2025, compared to $226.9 million.
Basic and diluted earnings per share were $2.43 and $2.38, respectively, compared to $3.83 and $3.76 per share, respectively, in last year’s nine months ended December 31, 2024.
Weighted average common shares outstanding used to compute diluted earnings per share for the nine months ended December 31, 2025 and 2024 were 61.1 million and 60.4 million, respectively.
About Freedom Holding Corp.
Freedom Holding Corp., a Nevada corporation, is a diversified financial services holding company conducting retail securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, mortgages, insurance, and consumer banking through its subsidiaries, operating under the name Freedom Finance in Europe and Central Asia, and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 11,000 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, International Trading System Limited, Armenia Stock Exchange, Kyrgyz Stock Exchange, the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange.
Freedom Holding Corp.'s common shares are registered under the United States Securities Exchange Act of 1934 and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc. The Company has its main market of operations in Kazakhstan and has operations through its subsidiaries across 21 countries.
To learn more about Freedom Holding Corp., visit www.freedomholdingcorp.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. All forward-looking statements are subject to uncertainty and changes in circumstances. In some cases, forward-looking statements can be identified by terminology such as "expect," "new," "plan," “strategy,” "seek," and "will," or the negative of such terms or other comparable terminology and include statements relating to our plans, intensions and expectations and other non-historical statements. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions, and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include economic, business, and regulatory risks and other factors including those identified in the Company's periodic and current reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.
Website Disclosure
Freedom Holding Corp. intends to use its website, https://ir.freedomholdingcorp.com, as a means for disclosing material non-public information and for complying with U.S. Securities and Exchange Commission Regulation FD and other disclosure obligation.
FREEDOM HOLDING CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Unaudited)
(All amounts in thousands of United States dollars, unless otherwise stated)
December 31, 2025
March 31, 2025
ASSETS
Cash and cash equivalents
$
869,167
$
837,302
Restricted cash (including $463,254 and $30 to related parties)
2,643,375
807,468
Investment securities
3,129,439
2,814,733
Margin lending, brokerage and other receivables, net
3,010,625
3,319,145
Loans issued (including $19,534 and $188,445 to related parties)
1,982,543
1,595,435
Fixed assets, net
328,805
191,103
Intangible assets, net
65,856
54,186
Goodwill
49,453
49,093
Right-of-use asset
41,929
39,828
Insurance contract assets
28,011
37,183
Other assets, net (including $37,559 and $18,080 with related parties)
227,607
168,541
TOTAL ASSETS
$
12,376,810
$
9,914,017
LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities repurchase agreement obligations
$
1,055,274
$
1,418,443
Customer liabilities
6,815,396
4,304,999
Margin lending and trade payables
557,938
1,322,241
Liabilities from insurance activity
580,106
481,539
Current income tax liability
50,248
28,919
Debt securities issued
1,075,397
469,551
Lease liability
43,767
40,525
Liability arising from continuing involvement
520,397
503,705
Other liabilities
283,440
129,737
TOTAL LIABILITIES
$
10,981,963
$
8,699,659
Commitments and Contingent Liabilities (Note 23)
—
—
SHAREHOLDERS’ EQUITY
Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding
—
—
Common stock - $0.001 par value; 500,000,000 shares authorized; 61,180,039 shares issued and outstanding as of December 31, 2025, and 60,993,949 shares issued and outstanding as of March 31, 2025, respectively
61
61
Additional paid in capital
299,849
246,610
Retained earnings
1,230,917
1,085,565
Accumulated other comprehensive loss
(135,980
)
(117,995
)
TOTAL FRHC SHAREHOLDERS’ EQUITY
$
1,394,847
$
1,214,241
Non-controlling interest
—
117
TOTAL SHAREHOLDERS’ EQUITY
$
1,394,847
$
1,214,358
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
12,376,810
$
9,914,017
FREEDOM HOLDING CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Unaudited)
(All amounts in thousands of United States dollars, unless otherwise stated)
Three Months Ended December
31,
Nine Months Ended December
31,
2025
2024
2025
2024
Revenue:
Fee and commission income
$
126,089
$
143,436
$
365,969
$
379,976
Net gain on trading securities
43,478
89,564
126,184
105,779
Interest income
228,794
224,688
639,027
661,016
Insurance premiums earned, net of reinsurance
106,924
177,472
385,409
467,224
Net gain on foreign exchange operations
45,774
3,945
32,886
18,513
Net gain on derivatives
26,540
11,889
38,836
30,691
Sales of goods and services
29,148
10,815
66,370
28,059
Other income
21,874
2,769
33,470
14,458
TOTAL REVENUE, NET
$
628,621
$
664,578
$
1,688,151
$
1,705,716
Expense:
Fee and commission expense
$
33,691
$
93,927
$
182,724
$
264,911
Interest expense
127,915
131,136
343,584
401,519
Insurance claims incurred, net of reinsurance
77,937
104,511
238,145
218,504
Payroll and bonuses
124,084
77,395
310,328
201,129
Professional services
15,963
10,955
39,484
26,468
Stock compensation expense
15,352
13,417
53,902
36,088
Advertising and sponsorship expense (including $10,759 and $5,894 from related parties for the three months ended, and $21,164 and $12,583 for the nine months ended)
36,628
41,035
88,593
95,364
General and administrative expense
71,416
53,874
158,947
135,140
Allowance for expected credit losses
6,342
30,612
23,108
39,269
Cost of sales
25,348
9,388
54,390
18,911
TOTAL EXPENSE
$
534,676
$
566,250
$
1,493,205
$
1,437,303
INCOME BEFORE INCOME TAX
93,945
98,328
194,946
268,413
Income tax expense
(17,710
)
(20,191
)
(49,594
)
(41,529
)
NET INCOME
$
76,235
$
78,137
$
145,352
$
226,884
Less: Net loss attributable to non-controlling interest in subsidiary
—
(144
)
—
(455
)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
$
76,235
$
78,281
$
145,352
$
227,339
OTHER COMPREHENSIVE INCOME
Change in unrealized (loss)/gain on investments available-for-sale, net of tax effect
(929
)
7,993
6,472
15,673
Reclassification adjustment for net realized (gain)/loss on available-for-sale investments disposed of in the period, net of tax effect
(4,103
)
872
(4,858
)
1,039
Foreign currency translation adjustments
87,733
(101,212
)
(19,599
)
(186,990
)
OTHER COMPREHENSIVE INCOME/(LOSS)
82,701
(92,347
)
(17,985
)
(170,278
)
COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS
$
158,936
$
(14,210
)
$
127,367
$
56,606
Less: Comprehensive loss attributable to non-controlling interest in subsidiary
—
(144
)
—
(455
)
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS
$
158,936
$
(14,066
)
$
127,367
$
57,061
EARNINGS PER COMMON SHARE (In U.S. dollars):
Earnings per common share - basic
1.27
1.32
2.43
3.83
Earnings per common share - diluted
1.25
1.29
2.38
3.76
Weighted average number of shares (basic)
59,955,472
59,372,323
59,918,950
59,331,443
Weighted average number of shares (diluted)
61,114,058
60,548,794
61,098,469
60,422,124
The accompanying notes are an integral part of these condensed consolidated financial statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260209307353/en/
Natalia Kharlashina
Public Relations
Freedom Holding Corp.
+7 701 364 1454
prglobal@ffin.kz
Ramina Fakhrutdinova (KZ)
Public Relations
Freedom Finance JSC
+7 777 377 8868
pr@ffin.kz
Media Contact for Freedom US Markets
Deborah Kostroun, Zito Partners
deborah@zitopartners.com
+1 201-403-8158
Original: Freedom Holding Corp. Reports Third Quarter Fiscal Year 2026 Financial Results
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