Freedom Holding Corp. Reports Strong Revenue Growth in Q3 2025 Fiscal Year, Driven by Brokerage and Banking Segments

Freedom Holding Corp. (NASDAQ: FRHC), a U.S.-based financial services company, has announced its financial results for the quarter ended December 31, 2024. The holding company reported a 57% increase in total revenue, with revenues reaching $655.2 million compared to $418.6 million in the same quarter of 2023. Total assets increased to $9.1 billion from $8.3 billion as of March 31, 2024.

The company's revenue has surged due to the increase of net gain on trading securities, which has risen from a $5.1 million loss to a $89.6 million gain. Additionally, company’s performance was significantly bolstered by its insurance underwriting income, which surged by 125% to $177.5 million, reflecting the expansion of pension annuities and accident insurance operations. The banking segment also demonstrated robust growth, with a 47% increase in revenue compared to the same period last year.

"In the era of globalization, we are building the Freedom ecosystem as a unified platform where diverse business segments — ranging from banking and insurance to lifestyle services — seamlessly interact to serve over 7 million clients. Recently, the holding’s revenue has become significantly more diversified; while brokerage was once the primary income driver, revenue is now evenly distributed across the insurance and banking segments, creating a more stable and balanced ecosystem," Timur Turlov, the founder of Freedom Holding, said.

Segment Performance
Brokerage: Revenue increased by 29% to $213.3 million, driven by an increase in net gains on trading securities and fee and commission income.
Banking: Revenue rose by 47% to $206.4 million, supported by net gains on trading securities and derivatives.
Insurance: Revenue doubled to $197.8 million, reflecting strategic growth in insurance underwriting income.
Other Segments: Revenue grew by 120% to $37.7 million, largely due to net gains on foreign exchange operations.

Despite strong revenue growth, the company's net income declined by 19% to $78.1 million, compared to $96.1 million in the previous year’s quarter. This was due to increased fees and commission expenses, general and administrative expenses, payroll and bonuses, advertising costs and stock-based compensation expenses. Total expenses for the quarter amounted to $556.9 million, up from $307.0 million in Q3 2024 fiscal year.

During the same period, fee and commission income increased from $120.2 million to $143.4 million.

Freedom Holding Corp. remains committed to expanding its product portfolio, improving operational efficiencies, capitalizing on emerging market opportunities, and considering selective acquisitions. In October 2024, the company acquired EliteCom, a telecommunications services company, for $3 million. The acquired licenses and assets will be used to develop Freedom Holding’s own telecommunications business.

In conclusion, Freedom Holding Corp.'s strong revenue growth in Q3 2025, driven by the brokerage and banking segments, reflects the company's strategic focus on diversifying its revenue streams and expanding its product portfolio. Despite a decline in net income due to increased expenses, the company remains committed to its growth strategy and is well-positioned to capitalize on emerging market opportunities.