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Freedom Holding Corp. Reports First Quarter Fiscal Year 2025 Results

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Freedom Holding Corp. (NASDAQ: FRHC) reported its Q1 FY2025 results, showing significant growth and expansion. The company achieved $451 million in revenue, a 43% increase from the previous year. However, net income decreased by 50% to $34 million, primarily due to unrealized losses on Kazakhstan sovereign bonds and increased expenses related to business growth.

Key highlights include:

  • Diluted EPS of $0.57
  • Total assets of $8.5 billion
  • Launch of Freedom Bank KZ mobile SuperApp
  • Expansion to 6,800 employees and 132 offices
  • Increase in brokerage accounts to 532,000

The company's growth strategy focuses on expanding its fintech ecosystem, including retail banking, insurance, and ancillary services. Despite challenges, FRHC remains optimistic about future prospects and continues to invest in organic growth and potential acquisitions.

Freedom Holding Corp. (NASDAQ: FRHC) ha riportato i risultati per il primo trimestre dell'anno fiscale 2025, evidenziando una crescita e un'espansione significative. L'azienda ha raggiunto 451 milioni di dollari in ricavi, con un aumento del 43% rispetto all'anno precedente. Tuttavia, l'utile netto è diminuito del 50% a 34 milioni di dollari, principalmente a causa di perdite non realizzate sui titoli sovrani del Kazakistan e dell'aumento delle spese legate alla crescita aziendale.

I principali punti salienti includono:

  • EPS diluiti di $0.57
  • Attività totali di 8,5 miliardi di dollari
  • Lancio della SuperApp mobile Freedom Bank KZ
  • Espansione a 6.800 dipendenti e 132 uffici
  • Aumento dei conti di intermediazione a 532.000

La strategia di crescita dell'azienda si concentra sull'espansione del suo ecosistema fintech, compresi il banking al dettaglio, l'assicurazione e i servizi ausiliari. Nonostante le sfide, FRHC rimane ottimista riguardo alle prospettive future e continua a investire nella crescita organica e in potenziali acquisizioni.

Freedom Holding Corp. (NASDAQ: FRHC) reportó sus resultados del primer trimestre del año fiscal 2025, mostrando un crecimiento y expansión significativos. La empresa alcanzó 451 millones de dólares en ingresos, un aumento del 43% respecto al año anterior. Sin embargo, el ingreso neto disminuyó un 50% a 34 millones de dólares, principalmente debido a pérdidas no realizadas en bonos soberanos de Kazajistán y a un aumento de los gastos relacionados con el crecimiento del negocio.

Los aspectos más destacados incluyen:

  • EPS diluido de $0.57
  • Activos totales de 8.5 mil millones de dólares
  • Lanzamiento de la SuperApp móvil Freedom Bank KZ
  • Expansión a 6,800 empleados y 132 oficinas
  • Aumento de las cuentas de corretaje a 532,000

La estrategia de crecimiento de la empresa se centra en expandir su ecosistema fintech, que incluye banca al por menor, seguros y servicios auxiliares. A pesar de los desafíos, FRHC sigue siendo optimista sobre las perspectivas futuras y continúa invirtiendo en crecimiento orgánico y posibles adquisiciones.

프리덤 홀딩 코프(Freedom Holding Corp.) (NASDAQ: FRHC)는 2025 회계연도 첫 분기 실적을 발표하며 중요한 성장과 확장을 보여주었습니다. 이 회사는 4억 5,100만 달러의 수익을 달성했으며, 이는 전년 대비 43% 증가한 수치입니다. 그러나 순이익은 50% 감소하여 3천 4백만 달러가 되었으며, 이는 주로 카자흐스탄 국채에서의 미실현 손실과 사업 성장과 관련된 비용 증가 때문입니다.

주요 하이라이트는 다음과 같습니다:

  • 희석주당순이익(EPS) $0.57
  • 총 자산 85억 달러
  • 프리덤 은행 KZ 모바일 슈퍼앱 출시
  • 6,800명의 직원과 132개의 사무소로 확장
  • 브로커리지 계좌 수 532,000개로 증가

회사의 성장 전략은 소매 은행, 보험 및 지원 서비스 등을 포함한 핀테크 생태계의 확장에 초점을 맞추고 있습니다. 도전에도 불구하고, FRHC는 미래 전망에 대해 낙관적이며 지속적으로 유기적 성장과 잠재적 인수에 투자하고 있습니다.

Freedom Holding Corp. (NASDAQ: FRHC) a annoncé ses résultats du premier trimestre de l'exercice 2025, montrant une croissance et une expansion significatives. L'entreprise a réalisé 451 millions de dollars de revenus, soit une augmentation de 43% par rapport à l'année précédente. Cependant, le bénéfice net a diminué de 50%, atteignant 34 millions de dollars, principalement en raison de pertes non réalisées sur les obligations souveraines du Kazakhstan et d'une augmentation des dépenses liées à la croissance de l'entreprise.

Les principaux faits saillants comprennent :

  • Bénéfice par action dilué de 0,57 $
  • Actifs totaux de 8,5 milliards de dollars
  • Lancement de la SuperApp mobile Freedom Bank KZ
  • Expansion à 6 800 employés et 132 bureaux
  • Augmentation des comptes de courtage à 532 000

La stratégie de croissance de l'entreprise se concentre sur l'expansion de son écosystème fintech, y compris la banque de détail, l'assurance et les services auxiliaires. Malgré les défis, FRHC reste optimiste quant à ses perspectives futures et continue d'investir dans la croissance organique et les acquisitions potentielles.

Freedom Holding Corp. (NASDAQ: FRHC) hat ihre Ergebnisse für das erste Quartal des Geschäftsjahres 2025 veröffentlicht, die ein signifikantes Wachstum und eine Expansion zeigen. Das Unternehmen erzielte 451 Millionen Dollar Umsatz, was einem Anstieg von 43% im Vergleich zum Vorjahr entspricht. Allerdings sank der Nettogewinn um 50% auf 34 Millionen Dollar, hauptsächlich aufgrund von unrealisierte Verluste bei kasachischen Staatsanleihen und gestiegenen Ausgaben im Zusammenhang mit dem Unternehmenswachstum.

Wichtige Höhepunkte sind:

  • Verdünnter Gewinn pro Aktie (EPS) von 0,57 $
  • Gesamtvermögen von 8,5 Milliarden Dollar
  • Einführung der mobilen SuperApp Freedom Bank KZ
  • Erweiterung auf 6.800 Mitarbeiter und 132 Büros
  • Erhöhung der Brokerage-Konten auf 532.000

Die Wachstumsstrategie des Unternehmens konzentriert sich auf die Erweiterung seines Fintech-Ökosystems, einschließlich Einzelhandelsbanking, Versicherungen und ergänzenden Dienstleistungen. Trotz der Herausforderungen bleibt FRHC optimistisch hinsichtlich der zukünftigen Perspektiven und investiert weiterhin in organisches Wachstum und potenzielle Übernahmen.

Positive
  • Revenue increased by 43% to $451 million
  • Interest income grew by 51% to $226 million
  • Insurance underwriting income increased by 188%
  • Fee and commission income rose by 17%
  • Brokerage accounts grew to 532,000, with an 81% increase in active accounts
  • S&P outlook for core subsidiaries revised from negative to positive
  • Launch of Freedom Bank KZ mobile SuperApp
  • Expansion to 6,800 employees and 132 offices
Negative
  • Net income decreased by 50% to $34 million
  • Unrealized net loss of $64.9 million on Kazakhstan sovereign bonds
  • Total expenses increased by 77% to $409 million
  • Banking segment experienced a 3% decrease in assets and 5% decrease in loan portfolio
  • Diluted EPS decreased from $1.15 to $0.57 year-over-year

Insights

Freedom Holding Corp.'s Q1 FY2025 results show a mixed performance. While revenue increased by 43% to $451 million, net income decreased by 50% to $34 million. This decline was primarily due to an unrealized loss of $64.9 million on Kazakhstan sovereign bonds and increased expenses related to business expansion.

The company's focus on growth is evident, with a 77% increase in expenses. Key growth areas include:

  • Insurance underwriting income: 188% increase
  • Interest income: 51% increase
  • Fee and commission income: 17% increase
The launch of the Freedom Bank KZ SuperApp and the expansion of services indicate a strong push towards fintech integration, which could drive future growth but may pressure short-term profitability.

Freedom Holding Corp.'s strategic expansion is yielding results in customer acquisition and service diversification. Notable metrics include:

  • Brokerage accounts increased by 33% to 532,000
  • Active accounts grew by 81%
  • Employee headcount rose by 33% to 6,800
The company's pivot from a pure brokerage model to a comprehensive fintech ecosystem, including banking, insurance and lifestyle services, positions it for potential long-term growth. However, investors should monitor the impact of increased expenses on profitability and the performance of the company's proprietary trading portfolio, which experienced significant losses this quarter.

The launch of Freedom Bank KZ's SuperApp marks a significant step in Freedom Holding Corp.'s digital transformation. This all-in-one financial platform integrates banking, investing and lifestyle services, positioning the company competitively in the fintech space. The SuperApp strategy can lead to:

  • Increased customer engagement and retention
  • Enhanced data collection for personalized services
  • Cross-selling opportunities across the company's ecosystem
However, the success of this initiative will depend on user adoption rates and the company's ability to leverage collected data effectively. Investors should watch for metrics on app usage and its impact on customer acquisition costs in future quarters.

Company Delivers $451 Million in Revenue and Continues its Business Expansion

ALMATY, Kazakhstan--(BUSINESS WIRE)-- Freedom Holding Corp. (the “Company”) (NASDAQ: FRHC), a multinational diversified financial services holding company with a presence through its subsidiaries in 22 countries, today announced the results for their first quarter ended June 30, 2024 of fiscal 2025. Highlights include:

  • $451 million in revenue
  • Net income of $34 million or $0.57 per share, diluted
  • Total expense of $409 million
  • $8.5 billion in total assets as of end of quarter
  • S&P outlook for Company’s core subsidiaries revised from negative to positive and the Company’s outlook from negative to stable
  • Approximately 6,800 employees and 132 offices as of end of quarter
  • Launch of the Freedom Bank KZ mobile application SuperApp
  • Board of directors adds three new members

Income Statement Highlights:

The Company recognized revenue of approximately $451 million for the first quarter of fiscal 2025, compared to $316 million in the first quarter of fiscal 2024, a 43% increase. The Company's total expenses were approximately $409 million in the first quarter of fiscal 2025 compared to $232 million for the same period last year, an increase of approximately 77%.

Net income was approximately $34 million for the first quarter of fiscal 2025 as compared to $68 million for the same period in fiscal 2024, a 50% decrease, providing for basic and diluted earnings per share of $0.58 and $0.57, respectively. This compares to $1.16 and $1.15 for the same period last year. Weighted average common shares outstanding used to compute diluted earnings per share for the three-month periods ended June 30, 2024, and 2023 were 60.3 million and 59.3 million, respectively. The decrease in net income was driven largely by an unrealized net loss of $64.9 million attributable to Kazakhstan sovereign bonds held in proprietary trading portfolio, primarily as a consequence of market price declines, as well as increased expenses, corresponding with the growth and development of the Company’s business.

Balance Sheet Highlights:

Total assets were $8.5 billion at June 30, 2024, as compared to $8.3 billion at March 31, 2024 and cash and cash equivalents totaled $719 million at June 30, 2024, compared to $545 million at March 31, 2024. Shareholder’s equity remained relatively constant at approximately $1.2 billion as of each of June 30, 2024 and March 31, 2024.

“Our investments in people, systems, and the expansion of our fintech ecosystem continues to bear fruit…”

Timur Turlov, the Company's founder and chief executive officer, provided commentary on the quarter by stating, "As has been our process for the past number of years, we continue to direct our profits into the further expansion of our business and the first quarter of fiscal 2025 was no exception. With a $177 million increase in total expenses as compared to the same period last year, we managed to contribute over $34 million to the bottom line during the quarter. Our investments in people, systems, and the expansion of our fintech ecosystem continues to bear fruit, which is evidenced by a 188% increase in insurance underwriting income, a 51% increase in interest income, and a 17% increase in fee and commission income, with these three being our largest sources of revenue for the quarter.”

Turlov continued, “Consistent with our general growth, I’m pleased to report that we have brought our global headcount to over 6,800 highly professional team members who support our business expansion. This compares to 5,100 for the first quarter of last year.”

“Our strongest contributor to our top line was interest income of just over $226 million, followed by insurance underwriting income of $129 million, and fee and commission income of $115 million. We were also pleased to note that we experienced an increase in brokerage accounts to 532,000 from 399,000 in the same period last year, of which there was an 81% increase in active accounts.”

“…now our digital fintech platform includes our retail bank, insurance companies, and a growing list of popular ancillary services that are contributing to the growth of our customer base.”

Turlov continued, “Historically brokerage accounts set the foundation for the overall growth of our digital fintech platform, but now our platform includes our retail bank, insurance companies, and a growing list of popular ancillary services that are contributing to the growth of our customer base. These include on-line grocery, travel and entertainment services, additional regional retail offerings, and planned telecommunications and media service offerings. In support of this, in April of this year our retail bank, Freedom Bank KZ, launched its SuperApp, a one-stop shop of financial services that our customers can use to check their account balances, review transaction histories, make transfers and payments, open and manage deposits as well as have real-time portfolio monitoring and access to a whole array of investing support services at their fingertips. This is a win-win scenario as our customers will gain the convenience of access to needed products and services and we will gain significant amounts of consumer data that will allow us to continue to build value-add products that our customers will enjoy. We expect innovation like this to be a significant driver of future growth.”

“…the quarter sets the stage for another exemplary year...”

“Overall, we are pleased with the results of the quarter which sets the stage for another exemplary year for Freedom Holding Corp. We continue to position our company for success by making strategic investments to accelerate our organic growth and by winning the battle for expertise, both operationally and from a corporate governance perspective, in a highly competitive talent marketplace. In June of this year, we welcomed three new members to our board of directors: Dr. Kairat Kelimbetov, Andrew Gamble, and Philippe Vogeleer, all with deep experience and with diverse backgrounds which we expect will be instrumental in helping guide the continued expansion strategy of our company. Going forward, we will continue to pursue organic growth objectives and review potential acquisition targets and opportunities for additional international expansion. We are encouraged about the future prospects of the enterprise,” Turlov concluded.

Additional Select First Quarter Fiscal 2025 Highlights:

The Company’s Banking segment, comprising Freedom Bank KZ, experienced a 3% decrease in assets, a 5% decrease in its loan portfolio and an 11% increase in its deposit portfolio during the quarter, in comparison with the year-end of fiscal 2024. The Bank’s trading portfolio also decreased by 8%, driven primarily by the volatility on the debt instruments in its proprietary trading portfolio.

As of June 30, 2024 and March 31, 2024, the Company’s Insurance segment comprising Freedom Life and Freedom Insurance reported assets of $546 million and $411 million in liabilities and $530 million in assets and $403 million in liabilities, respectively. Active contracts in the life insurance business grew to 888,787 from 616,000 from in the previous year and general insurance grew to 276,234 at June 30, 2024 from 191,000 at March 31, 2024, with the increase driven primarily by innovative and competitive products as well as significant investments in our sales force and related advertising initiatives in the Kazakhstan market.

About Freedom Holding Corp.

Freedom Holding Corp., a Nevada corporation, is a diversified financial services holding company conducting retail securities brokerage, securities trading, investment research, investment counseling, investment banking and underwriting services, mortgages, insurance, and commercial banking as well as several ancillary businesses which complement its core financial services businesses, all through its subsidiaries, operating under the name Freedom24 in Europe, Freedom Broker in, Central Asia and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 6,800 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, the Uzbek Republican Currency Exchange, and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange.

Freedom Holding Corp. is incorporated in Nevada, and has operations and subsidiaries in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Azerbaijan, among others.

Freedom Holding Corp.'s common shares are registered with the United States Securities and Exchange Commission and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc.

To learn more about Freedom Holding Corp., visit www.freedomholdingcorp.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking" statements, including with respect to Freedom Holding Corp.'s potential for future growth and success. 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," "seek," and "will," or the negative of such terms or other comparable terminology used in connection with any discussion of future plans, actions, and events. 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 certain economic, business, and regulatory risks and factors 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 obligations.

 

June 30, 2024

 

March 31, 2024

 

 

 

 

ASSETS

 

 

 

Cash and cash equivalents (including $257 and $203 from related parties)

$

718,678

 

 

$

545,084

 

Restricted cash (including $1,121 and $— with related parties)

 

1,179,510

 

 

 

462,637

 

Trading securities (including $1,256 and $1,326 with related parties)

 

3,393,936

 

 

 

3,688,620

 

Available-for-sale securities, at fair value

 

262,860

 

 

 

216,621

 

Margin lending, brokerage and other receivables, net (including $37,836 and $22,039 due from related parties)

 

1,217,885

 

 

 

1,660,275

 

Loans issued (including $136,558 and $147,440 to related parties)

 

1,314,552

 

 

 

1,381,715

 

Fixed assets, net

 

100,474

 

 

 

83,002

 

Intangible assets, net

 

45,535

 

 

 

47,668

 

Goodwill

 

50,591

 

 

 

52,648

 

Right-of-use asset

 

35,006

 

 

 

36,324

 

Insurance contract assets

 

24,949

 

 

 

24,922

 

Other assets, net (including $23,057 and $5,257 with related parties)

 

139,584

 

 

 

102,414

 

TOTAL ASSETS

$

8,483,560

 

 

$

8,301,930

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

Securities repurchase agreement obligations

$

2,558,794

 

 

$

2,756,596

 

Customer liabilities (including $84,970 and $44,127 to related parties)

 

2,699,912

 

 

 

2,273,830

 

Margin lending and trade payables (including $255 and $507 to related parties)

 

836,309

 

 

 

867,880

 

Liabilities from insurance activity (including $57 and $470 to related parties)

 

320,394

 

 

 

297,180

 

Current income tax liability

 

40,485

 

 

 

32,996

 

Debt securities issued

 

266,398

 

 

 

267,251

 

Lease liability

 

35,390

 

 

 

35,794

 

Liability arising from continuing involvement

 

505,659

 

 

 

521,885

 

Other liabilities (including $8,349 and $9,854 to related parties)

 

68,040

 

 

 

81,560

 

TOTAL LIABILITIES

$

7,331,381

 

 

$

7,134,972

 

Commitments and Contingent Liabilities (Note 22)

 

 

 

 

 

 

 

 

 

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; 60,721,010 shares issued and outstanding as of June 30, 2024, and 60,321,813 shares issued and outstanding as of March 31, 2024, respectively

 

60

 

 

 

60

 

Additional paid in capital

 

197,205

 

 

 

183,788

 

Retained earnings

 

1,033,140

 

 

 

998,740

 

Accumulated other comprehensive loss

 

(81,393

)

 

 

(18,938

)

TOTAL FRHC SHAREHOLDERS’ EQUITY

$

1,149,012

 

 

$

1,163,650

 

 

 

 

 

Non-controlling interest

 

3,167

 

 

 

3,308

 

TOTAL SHAREHOLDERS’ EQUITY

$

1,152,179

 

 

$

1,166,958

 

 

 

 

 

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

8,483,560

 

 

$

8,301,930

 

 

Three Months Ended June 30,

 

2024

 

2023

 

 

 

 

Revenue:

 

 

 

Fee and commission income (including $866 and $15,896 from related parties)

$

115,489

 

 

$

98,703

 

Net (loss)/gain on trading securities

 

(52,102

)

 

 

31,816

 

Interest income (including $270 and $5,352 from related parties)

 

226,004

 

 

 

149,349

 

Insurance underwriting income

 

129,408

 

 

 

44,889

 

Net gain on foreign exchange operations

 

8,089

 

 

 

19,301

 

Net gain/(loss) on derivative

 

12,494

 

 

 

(30,605

)

Other income

 

11,333

 

 

 

2,757

 

TOTAL REVENUE, NET

$

450,715

 

 

$

316,210

 

 

 

 

 

Expense:

 

 

 

Fee and commission expense (including $157 and $99 from related parties)

$

80,147

 

 

$

28,684

 

Interest expense (including $381 and $168 from related parties)

 

145,718

 

 

 

95,046

 

Insurance claims incurred, net of reinsurance

 

47,309

 

 

 

21,514

 

Payroll and bonuses

 

57,524

 

 

 

31,630

 

Professional services

 

7,268

 

 

 

6,625

 

Stock compensation expense

 

10,615

 

 

 

1,233

 

Advertising expense

 

17,201

 

 

 

8,100

 

General and administrative expense (including $2,725 and $478 from related parties)

 

45,105

 

 

 

24,475

 

(Recovery of)/provision for allowance for expected credit losses

 

(1,770

)

 

 

14,326

 

TOTAL EXPENSE

$

409,117

 

 

$

231,633

 

 

 

 

 

INCOME BEFORE INCOME TAX

 

41,598

 

 

 

84,577

 

 

 

 

 

Income tax expense

 

(7,339

)

 

 

(16,656

)

 

 

 

 

NET INCOME

$

34,259

 

 

$

67,921

 

 

 

 

 

Less: Net loss attributable to non-controlling interest in subsidiary

 

(141

)

 

 

(181

)

NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS

$

34,400

 

 

$

68,102

 

 

 

 

 

OTHER COMPREHENSIVE INCOME

 

 

 

Change in unrealized gain on investments available-for-sale, net of tax effect

 

3,374

 

 

 

2,239

 

Reclassification adjustment for net realized loss on available-for-sale investments disposed of in the period, net of tax effect

 

(18

)

 

 

(958

)

Foreign currency translation adjustments

 

(65,811

)

 

 

(1,760

)

OTHER COMPREHENSIVE LOSS

 

(62,455

)

 

 

(479

)

 

 

 

 

COMPREHENSIVE (LOSS)/INCOME BEFORE NON-CONTROLLING INTERESTS

$

(28,196

)

 

$

67,442

 

 

 

 

 

Less: Comprehensive loss attributable to non-controlling interest in subsidiary

 

(141

)

 

 

(181

)

 

 

 

 

COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS

$

(28,055

)

 

$

67,623

 

 

 

 

 

EARNINGS PER COMMON SHARE (In U.S. dollars):

 

 

 

Earnings per common share - basic

 

0.58

 

 

 

1.16

 

Earnings per common share - diluted

 

0.57

 

 

 

1.15

 

 

 

 

 

Weighted average number of shares (basic)

 

59,258,085

 

 

 

58,512,215

 

Weighted average number of shares (diluted)

 

60,255,593

 

 

 

59,293,691

 

 

Ramina Fakhrutdinova (KZ)

Public Relations

Freedom Finance JSC

+7 777 377 8868

pr@ffin.kz

Natalia Kharlashina

Public Relations

Freedom Holding Corp.

+7 701 364 1454

prglobal@ffin.kz

Al Palombo (US)

Global Communications Chief

Freedom US Markets

+1 212-980-4400, Ext. 1013

apalombo@freedomusmkts.com

Source: Freedom Holding Corp.

FAQ

What was Freedom Holding Corp's (FRHC) revenue for Q1 FY2025?

Freedom Holding Corp (FRHC) reported revenue of $451 million for Q1 FY2025, representing a 43% increase from the same period last year.

How did FRHC's net income change in Q1 FY2025 compared to the previous year?

FRHC's net income decreased by 50% to $34 million in Q1 FY2025, compared to $68 million in the same period of fiscal 2024.

What caused the decrease in FRHC's net income for Q1 FY2025?

The decrease in net income was primarily due to an unrealized net loss of $64.9 million on Kazakhstan sovereign bonds and increased expenses related to business growth and expansion.

How many brokerage accounts did FRHC have at the end of Q1 FY2025?

FRHC reported 532,000 brokerage accounts at the end of Q1 FY2025, up from 399,000 in the same period last year, with an 81% increase in active accounts.

What new product did Freedom Bank KZ launch in Q1 FY2025?

Freedom Bank KZ launched its SuperApp, a mobile application that serves as a one-stop shop for financial services, including account management, transfers, payments, and investing support.

Freedom Holding Corp.

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