Freedom Holding Corp. announces financial results for fiscal year 2025, which ended on March 31 of this year, DKnews.kz reports.
The main indicators showed the following dynamics:
- Revenue for the reporting period amounted to $2.1 billion, an increase of $384.2 million (23%) compared to the previous year, due to the growth in the number of pension annuity and accident insurance contracts. In addition, revenue was affected by the fact that instead of a net loss from derivative financial instruments, a net profit of $12.4 million (+112%) was recorded. It is also worth noting the increase in commission income from $440.3 million to $505 million (+15%) due to the continued growth in the number of retail clients of brokerage firms and their trading activity.
- Net income of Freedom Holding Corp. amounted to $84.5 million. Earnings per share were $1.43*.
- The Holding’s assets increased from $8.3 billion to $9.9 billion (+19%). Liabilities amounted to $8.7 billion (+22%).
In fiscal year 2025, the Holding allocated $51 million for sponsorship support. The most significant contributions were made to the Kazakhstan Chess Federation and QJ League.
During the reporting period, the client base continued to grow:
- Brokerage accounts – 683,000 (+153,000)
- Insurance company clients – 1.2 million (+636,000)
- Banking service users – 2.5 million (+1.6 million)
- Other segments – 605,000 (+486,000)
The growth in the banking service client base was largely due to the launch of the SuperApp. In the first year, the application was downloaded by more than 1.8 million users, and by early June 2025, the number had reached 2.3 million.
"The financial year that has just ended was an important stage for our company — a time of deep transformations, overcoming challenges, and sustainable development. We have reached a new level both in terms of business scale and investor perception. Today, considering the record growth in market capitalization, Freedom Holding Corp. is viewed as a key player not only in Kazakhstan but also in the region as a whole. Our achievements are the result of a long-term strategy and the trust of our investors, for which we are sincerely grateful." Timur Turlov, CEO of Freedom Holding Corp.
It is also important to note that in May 2025, the company’s share price reached a peak of $183.07, and its market capitalization stood at $11 billion.
The performance of FRHC shares remains stronger than the broader market. While major indices S&P 500 and Nasdaq have shown near-zero dynamics since the beginning of the calendar year, FRHC shares have gained more than 17% over the same period. This significantly outpaces the average performance of the U.S. financial sector and reflects both steady business growth and high investor confidence.
Among the largest shareholders are institutional players such as BlackRock, Millennium Management, Goldman Sachs, State Street Corporation, Morgan Stanley, D.E. Shaw, HRT Financial LP, SIG Holding LLC, and FMR LLC.
This year, Freedom Holding Corp. continued to implement its telecommunications development strategy. On April 30, 2025, it completed the acquisition of Astel Group Ltd. The company has expertise in satellite communications, systems integration, and digital solutions. The deal was valued at $22.6 million.
Another significant event was the inclusion of Freedom Holding Corp. shares in the Russell 3000 Index as part of its annual rebalancing, which will take effect after the U.S. market closes on June 27, 2025.
The Russell 3000 Index tracks the performance of 3,019 of the largest American companies, representing approximately 98% of the investable U.S. stock market.
The company’s fiscal year 2025 ended on March 31, 2025.
Change in reserves related to currency translation
The Holding’s other comprehensive income/expenses include gains and losses from currency translation reserve adjustments. These arise from translating the financial statements of subsidiaries, prepared in their functional currencies, into the Holding’s reporting currency during consolidation.
When calculating the reserve, asset and liability items are translated at the reporting date’s exchange rate, while income and expense items are translated at the average exchange rate over the reporting period.
A positive reserve change occurs when the exchange rates of subsidiaries’ functional currencies decline relative to the Holding’s reporting currency.
*Profit is calculated based on a basic weighted average of 59.4 million outstanding shares.
