Freedom Holding Corp. reported a total revenue of $533.4 million for the three months ended June 30, 2025, marking a 17% increase from $455.0 million in the same period last year. This growth was primarily driven by a significant rise in insurance premiums earned, which increased by 18% to $153.3 million, and a net gain on trading securities of $45.6 million, a substantial recovery from a net loss of $52.1 million in the prior year. However, fee and commission income decreased by 7% to $107.6 million, attributed to lower income from banking services and payment processing.
The company's total expenses rose to $492.9 million, up from $413.4 million a year earlier, largely due to increases in payroll and bonuses, insurance claims incurred, and advertising expenses. Notably, payroll expenses surged by 62% to $93.1 million, reflecting the expansion of the workforce and new acquisitions. Despite the increase in expenses, Freedom Holding Corp. achieved a net income of $30.4 million, down from $34.3 million in the previous year, with contributions from its Brokerage, Banking, and Insurance segments.
Operationally, Freedom Holding Corp. saw an increase in customer counts across its segments. The number of retail brokerage customers rose to approximately 725,000, up from 683,000, while banking customers increased to about 2.9 million from 2.5 million. The insurance segment also expanded its customer base, growing to approximately 1.4 million from 1.2 million. The company continues to focus on enhancing its digital fintech ecosystem, which integrates various financial services, including banking, brokerage, and insurance.
In terms of strategic developments, Freedom Holding Corp. completed the acquisition of Astel Group Ltd. on April 30, 2025, for approximately $22.3 million. This acquisition aims to bolster its telecommunications business in Kazakhstan. The company also reported a decrease in total assets to $9.7 billion as of June 30, 2025, down from $9.9 billion at the end of the previous fiscal period, primarily due to changes in cash and cash equivalents and investment securities.
Looking ahead, Freedom Holding Corp. remains focused on expanding its operations and enhancing its digital offerings. The company is actively reassessing its strategy for Freedom Telecom and its media subsidiary, Freedom Media, as it seeks to establish a comprehensive telecommunications and media platform in Kazakhstan. The management believes that these initiatives, along with its recent inclusion in the Russell 3000® Index, will further enhance its market presence and operational capabilities.
About Freedom Holding Corp.
Freedom Holding Corp. is a diversified financial services company providing securities brokerage, banking, insurance, and investment products across global markets. Its core offerings include retail and institutional brokerage, digital banking, insurance, and proprietary trading. Operating mainly in Kazakhstan with a growing international presence, it leverages advanced fintech, integrated ecosystems, and data analytics to deliver seamless, innovative financial solutions to individual and corporate clients worldwide.
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