Freedom Holding Corp.

Listed Company

FRHCCIK 0000924805NasdaqLarge AcceleratedSecurity Brokers, Dealers & Flotation CompaniesNevadaFY ends Mar 31

Period

FY 2026

Revenue

$2.19B

Net Income

$153.33M

Total Assets

$13.16B

Equity

$1.49B

Shares Out

61.29M

Op. Cash Flow

$185.22M

Business

Freedom Holding Corp. is a holding company that operates a diversified group of subsidiaries providing integrated digital financial services and ancillary lifestyle businesses. It offers securities brokerage and dealing, market making, investment research, banking, life and general insurance, payment and information processing, e‑commerce, ticketing, telecommunications and media services. The company organizes its operations into four reportable segments: Brokerage, Banking, Insurance and Other. It serves retail, SME and institutional customers across Kazakhstan, Europe, the United States, the Middle East and Central Asia through online platforms, retail offices and partner channels.

Summary from filing dated 2025-06-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Revenue:	—	—	—
Fee and commission income (including $7,680, $4,725 and $65,972 from related parties)	490	505	440
Net gain/(loss) on trading securities	159	−58	134
Interest income (including $12,703 , $1,731 and $24,941 from related parties)	882	864	828
Net insurance revenue	402	571	245
Net gain on foreign exchange operations	68	52	72
Net gain/(loss) on derivatives	67	12	−104
Sales of goods and services	97	40	22
Other income	26	17	10
TOTAL REVENUE, NET	2,191	2,004	1,647
Expense:	—	—	—
Fee and commission expense	219	347	155
Interest expense	489	536	501
Insurance claims and policyholder benefits, net of reinsurance	259	260	117
Payroll and bonuses	426	287	180
Professional services	46	29	34
Stock compensation expense	68	60	23
Advertising and sponsorship expense (including $27,151,$18,497, and — from related parties)	103	125	38
General and administrative expense	222	162	121
Allowance for expected credit losses	52	62	21
Cost of sales	80	31	18
TOTAL EXPENSE	1,965	1,900	1,208
INCOME BEFORE INCOME TAX	226	105	439
Income tax expense	73	28	60
NET INCOME	153	76	379
Less: Net loss attributable to non-controlling interest in subsidiary	0	−129,000	−588,000
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	153	76	379
OTHER COMPREHENSIVE INCOME	—	—	—
Change in unrealized (loss)/gain on investments available-for-sale, net of tax effect	−5	4	6
Reclassification adjustment for net realized (gain)/loss on available-for-sale investments disposed of in the period, net of tax effect	−5	681,000	−3
Change in discount rate on liability for future policy benefits	−881,000	7	−5
Foreign currency translation adjustments	54	−104	12
OTHER COMPREHENSIVE INCOME/(LOSS)	43	−92	10
COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS	197	−16	389
Less: Comprehensive loss attributable to non-controlling interest in subsidiary	0	−129,000	−588,000
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	197	−16	389
EARNINGS PER COMMON SHARE	—	—	—
Earnings per common share - basic (in dollars per share)	2.56	1.28	6.43
Earnings per common share - diluted (in dollars per share)	2.51	1.26	6.39
Weighted average number of shares (basic) (in shares)	60	59	59
Weighted average number of shares (diluted) (in shares)	61	60	59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
ASSETS	—	—
Cash and cash equivalents	966	837
Restricted cash	1,246	807
Investment securities	3,343	2,815
Margin lending, brokerage and other receivables, net	4,691	3,319
Loans issued (including $21,321 and $188,445 to related parties)	2,078	1,595
Fixed assets, net	358	191
Intangible assets, net	73	54
Goodwill	51	49
Right-of-use asset	48	40
Insurance contract assets	37	37
Other assets, net (including $40,119 and $18,080 with related parties)	265	170
TOTAL ASSETS	13,155	9,915
LIABILITIES AND SHAREHOLDERS' EQUITY	—	—
Securities repurchase agreement obligations	1,025	1,418
Customer liabilities	7,104	4,305
Margin lending and trade payables	690	1,322
Insurance contract liabilities	654	472
Current income tax liability	44	29
Debt securities issued	1,261	470
Lease liability	49	41
Liability arising from continuing involvement	555	504
Other liabilities	285	130
TOTAL LIABILITIES	11,666	8,691
Commitments and Contingent Liabilities (Note 29)	0	0
SHAREHOLDERS' EQUITY	—	—
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding	0	0
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	61,000	61,000
Additional paid in capital	315	247
Retained earnings	1,232	1,078
Accumulated other comprehensive loss	−57	−100
TOTAL FRHC SHAREHOLDERS' EQUITY	1,489	1,224
Non-controlling interest	0	117,000
TOTAL SHAREHOLDERS' EQUITY	1,489	1,225
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	13,155	9,915

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Cash Flows From Operating Activities	—	—	—
NET INCOME	153	76	379
Net income from discontinued operations	—	—	—
Net income from continuing operations	153	76	379
Adjustments to reconcile net income used in operating activities:	—	—	—
Depreciation and amortization	35	17	15
Amortization of deferred acquisition costs	128	210	50
Noncash lease expense	18	14	10
Change in deferred taxes	12	20	−800,000
Stock compensation expense	68	60	23
Unrealized loss/(gain) on trading securities	−5	−124	96
Unrealized (gain)/loss on derivatives	14	7	−3
Net realized (gain)/loss on available-for-sale securities	5	−681,000	3
Gain from sale of subsidiaries	2	4	0
Revaluation of investments in associates	−1	1	0
Net change in accrued interest	35	97	−69
Loss on sale of fixed assets	−141,000	0	0
Change in insurance reserves	−147	−229	−96
Revaluation of purchase price previously held interest in Arbuz	0	0	−1
Change in unused vacation reserve	10	3	6
Allowances for expected credit losses	−52	−62	−21
Other non-cash income/expense	129,000	0	0
Changes in operating assets and liabilities:	—	—	—
Trading securities	−25	−827	1,048
Margin lending, brokerage and other receivables (including $(19,041), $41,934, and $(108,275) changes from related parties)	1,203	1,744	1,273
Insurance contract assets	14	15	6
Other assets	175	269	75
Brokerage customer liabilities (including $46,647, $48,161, and $(325,904) changes from related parties)	−1,597	−1,517	−112
Current income tax liability	15	−4	28
Margin lending and trade payables (including $(471), $1,789, and $(39,371) changes from related parties)	730	−474	−735
Lease liabilities	18	14	10
Liabilities from insurance activity	−988,000	5	7
Other liabilities	70	44	33
Net cash flows from/(used in) operating activities	185	1,681	−1,064
Cash Flows From Investing Activities	—	—	—
Purchase of fixed assets	199	81	37
Purchase of intangible assets	23	14	7
Net change in loans issued to customers	412	436	569
Purchase of available-for-sale securities, at fair value	452	458	230
Proceeds from sale of available-for-sale securities, at fair value	382	174	260
Purchase of held-to-maturity securities	324	68	0
Consideration paid for acquisitions	13	19	35
Cash, cash equivalents and restricted cash received from acquisitions	8	93,000	2
Capital contribution to investment in associate	100,000	3	0
Cash received from sale of subsidiaries	2	2	0
Cash, cash equivalents disposed from sale of subsidiaries	55,000	542,000	0
Prepayment on acquisitions	18	19	22
Refund of prepayment on acquisition	0	15	0
Net cash flows used in investing activities	−1,049	−905	−638
Cash Flows From Financing Activities	—	—	—
Net (repayment)/proceeds from securities repurchase agreement obligations	−432	−1,061	1,191
Proceeds from issuance of debt securities	784	202	206
Settlement and repurchase of mortgage loans under the State Program	60	55	42
Funds received under state program for financing of mortgage loans	65	81	102
Net change in bank customer deposits	770	829	218
Purchase of non-controlling interest in Arbuz	0	0	3
Net proceeds from loans received	65	2	3
Net cash flows (used in)/from financing activities	1,192	−2	1,675
Effect of changes in foreign exchange rates on cash and cash equivalents and restricted cash	241	−137	12
Effect of expected credit losses on cash and cash equivalents and restricted cash	−1	79,000	−3
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	568	637	−19
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD FROM CONTINUING OPERATIONS	—	—	—
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD FROM CONTINUING OPERATIONS	—	—	—

Filings

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