Freedom Holding Increased Its Revenue by 40%
Freedom Holding continues to grow following the quarter's results. Photo: Freedom24.com
Freedom Holding Corp. In the first quarter of fiscal year 2027, which ended on June 30, 2026, the company increased its net revenue by 40% compared to the same period of the previous year—from $524 million to $732.5 million. Assets increased from $13.16 billion to $14.05 billion.
Interest income increased from $198.6 million to $295.1 million, and fee income rose from $107.6 million to $156.7 million. Net income from trading securities rose from $45.6 million to $79.8 million. A significant portion of this result was achieved “through the sale of Kazakhstani sovereign securities, corporate debt securities, and an increase in the fair value of securities remaining in the group’s portfolio at the end of the reporting period,” according to the holding company’s press release. The result from foreign exchange operations improved from a loss of $12.9 million to a profit of $13.7 million.
Revenue in the brokerage segment rose by 60%, in the banking segment by 54%, and in other businesses by approximately 100%, while revenue in the insurance segment was the only one to decline, by 8%.
The number of customers across the group’s companies reached 8.7 million. The number of brokerage accounts rose by 16,000 over the quarter to 874,000, while the number of Freedom SuperApp users increased by 493,000 to 5.7 million. Including customers of partner companies, the ecosystem has reached 13.8 million users, compared to 11.7 million a year earlier.
Net income, meanwhile, fell by 15%—to $31.7 million from $37.4 million. Basic earnings per share were $0.52, compared with $0.62 a year earlier. The 45% increase in total expenses to $691.7 million, as reported in the company’s financial statements, is attributed to higher customer payouts related to the growth of the insurance business, increased interest and administrative expenses, and the acquisition of a cloud service.
In July, Freedom placed 2.37 million shares worth $300 million. At the end of June, S&P Global Ratings upgraded the long-term ratings of Freedom Finance, Freedom Finance Global, Freedom Finance Europe, and Freedom Bank Kazakhstan from “B+” to “BB-” with a “stable” outlook.
Following the release of its financial results, Freedom Holding Corp. shares on the KASE closed the day down 3.19% at $147.59, however, on the NASDAQ, they rose 0.44% to $149.63 by 6:45 p.m. Almaty time on August 10.
Freedom Holding Corp. is incorporated in the state of Nevada, and its shares are traded on the Nasdaq under the ticker symbol FRHC. Kazakhstan is the primary market for the development of the group’s ecosystem. The group operates in Kazakhstan through Freedom Bank; the brokerage firms Freedom Finance and Freedom Finance Global; the insurance companies Freedom Life and Freedom Insurance; the telecommunications operator Freedom Telecom; and the services Arbuz, Ticketon, and Freedom Travel.
This article was AI-translated and verified by a human editor
