Freedom Holding Corp. Reports Revenue of $2.2 Billion for Fiscal Year 2026

June 2, 2026, Almaty

Freedom Holding Corp. announces its financial results for fiscal year 2026, which ended on March 31, 2026.

 

Timur Turlov, Chief Executive Officer of Freedom Holding Corp.: “Fiscal year 2026 was a period of continued business strengthening, further ecosystem expansion, and the execution of strategic initiatives in new areas for Freedom Holding Corp. We delivered solid revenue growth, expanded our client base, strengthened our positions in key segments, and continued our international expansion. These results reflect the effectiveness of our long-term strategy, the strong commitment of our team, and the trust placed in us by our clients, partners, and investors.”

Review of Financial Results for the Fiscal Year Ended March 31, 2026**

The Company reported total revenue of $2,191.3 million for fiscal year 2026, compared to $2,044.2 million for the corresponding period a year earlier. Revenue growth was driven by an increase in net gains on trading securities, higher revenue from the sale of goods and services, and growth in net gains on derivative financial instruments.

As of March 31, 2026, cash and cash equivalents, restricted cash, and investment securities totaled $5.5 billion. Total assets amounted to $13.2 billion, while shareholders’ equity reached $1.5 billion. Net cash provided by operating activities totaled $185.2 million.

The total number of clients across Freedom Holding Corp. companies increased to 8.1 million, including 858 thousand brokerage accounts (+175 thousand), 5 million banking service users (+2.5 million), 5.2 million Freedom SuperApp users (+3.4 million), and 1.105 million clients of non-financial companies (+500 thousand).

Including users of partner companies within the Freedom ecosystem, the total number of clients exceeds 14 million.

Net gain on trading securities amounted to $158.8 million, compared to a loss of $57.8 million in the previous year, primarily due to realized gains from the sale of Kazakhstan sovereign securities and corporate debt securities during fiscal year 2026.

Growth in revenue from the sale of goods and services was mainly driven by the Company’s entry into the telecommunications sector following the acquisition of Freedom Cloud Holding, as well as increased client activity and order volumes at Arbuz.kz.

Growth in net gains on derivative financial instruments was primarily attributable to the positive revaluation of currency swaps at Freedom Bank KZ and higher realized gains compared to the previous year.

Net insurance income amounted to $402.4 million compared to $571.2 million in the prior-year period. The decline was primarily due to legislative changes in the Republic of Kazakhstan regarding commissions paid to lending institutions for selling insurance policies to their borrowers.

Total expenses were approximately $1,965.3 million in fiscal year 2026, compared to $1,899.6 million a year earlier. The increase was mainly driven by higher salaries and bonuses, general and administrative expenses, and cost of sales. This growth was partially offset by lower commission and interest expenses.

During fiscal year 2026, $61.1 million was allocated through the Freedom Shapagat corporate foundation to support sustainable development projects.

A significant event of the fourth quarter was the inclusion of Freedom Holding Corp. shares in the ITS World Index as part of its regular rebalancing.

In March 2026, Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp., signed a Share Purchase Agreement (SPA) to acquire a 99.32% stake in Turkish Bank A.Ş., a member of the TurkishBank Group. The transaction is currently awaiting regulatory approval and represents another important strategic step for Freedom Holding Corp. in Türkiye, following regulatory approval for the establishment of Freedom Yatirim, a subsidiary brokerage company.

On February 25, 2026, the Company signed an agreement to acquire a 100% stake in ChessBase GmbH. As of March 31, 2026, the transaction had not yet closed and remained subject to the fulfillment of certain closing conditions.

Notes

The reserve related to the translation of reporting currency is included in other comprehensive income/loss. It arises from translating the financial statements of subsidiaries from their functional currencies into the holding company’s reporting currency during consolidation.

* Earnings per share were calculated based on a weighted average of 59.9 million common shares outstanding.

** Unless otherwise stated, all comparisons are made against the fiscal year ended March 31, 2025.

About the Company

Freedom Holding Corp. is a diversified financial services company engaged in brokerage, securities trading, investment research and advisory services, investment banking and underwriting, mortgage lending, insurance, telecommunications, online ticket sales for air travel, cultural and sporting events, online supermarket services, and many other businesses.

Including its subsidiaries, Freedom Holding Corp. employs more than 11,800 people. The holding operates in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and others.

Freedom Holding Corp. common shares are registered with the U.S. Securities and Exchange Commission and trade on the Nasdaq Capital Market under the ticker symbol FRHC.

Media Contacts: [email protected]
www.freedomholdingcorp.com