Latest news with #SuperApp
Yahoo
17 hours ago
- Business
- Yahoo
Bolt Embraces Stablecoin Payments for Global Marketplaces as Digital Dollar Race Heats Up
Bolt, San Francisco-based checkout and payments platform, said on Friday it has added support for stablecoin payments, a move aimed at streamlining cross-border commerce for marketplaces and merchants using its network. The addition is part of Bolt Connect, a new product focused on helping digital marketplaces scale quickly by automating merchant onboarding, compliance and payouts. For merchants, receiving stablecoin payments means fewer bank intermediaries, faster settlements and lower transaction costs, the company explained the initiative in the press release. Consumers can benefit, too: a shopper without a bank account or buying from a store across the world can pay instantly using digital dollars without incurring foreign transaction fees or waiting on credit card clearances. "Marketplaces shouldn't have to choose between scale and simplicity," said Ryan Breslow, Founder and CEO of Bolt. "With Bolt Connect, we're giving them the tools to grow without the usual technical burden, while stablecoin support opens the door to faster, borderless payments for everyone in the network." Bolt is the latest example of global payment firms like Mastercard, Visa and Stripe racing to embrace stablecoins, a type of digital currency with prices anchored to an external asset such as fiat currencies, into their offerings. It's a $260 billion, and rapidly growing, asset class which promises programmable transactions and faster, cheaper cross-border payments than through traditional banking channels. Adoption is expected to accelerate after the U.S. Senate passed the GENIUS Act to regulate the stablecoin sector. Bolt's stablecoin initiative came on the heels of debuting its financial "SuperApp" that allows users to hold, send and receive cryptocurrencies including stablecoins within the application.
Business Insider
21 hours ago
- Business
- Business Insider
Freedom Holding Corp.: S&P Global Ratings Upgrades Outlook on Key Operating Subsidiaries to 'Positive' on Strengthened Risk Management and Compliance
Almaty, Kazakhstan, June 27th, 2025, FinanceWire International credit rating agency S&P Global Ratings has revised the outlook on Freedom Holding Corp.'s core operating subsidiaries from 'Stable' to 'Positive,' while affirming their credit ratings at 'B+/B'. The revised outlook applies to Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC. The rating of the parent company, Freedom Holding Corp., was affirmed at 'B-' with a Stable outlook. Positive Outlook: recognition of systemic progress The revised outlook reflects Freedom Holding's significant achievements in consolidating and enhancing its risk management and compliance functions across the organization. Over the past two years, the group has implemented a centralized risk management policy, adopted unified risk appetite standards, established a compliance project management office, and expanded its oversight team to include 129 risk specialists and 162 compliance professionals operating across 22 jurisdictions. 'We've come a long way — turning fragmented control functions into a unified, centralized system at the group level. This decision reflects the maturity of our governance model,' commented CEO Timur Turlov. Focus on resilience: lower risk and balanced growth The holding's overall capitalization strengthened in fiscal year 2025. Its risk-adjusted capital (RAC) ratio rose from 11.6% to around 13%, supported by moderate balance sheet growth, a decline in economic and industry risks in Kazakhstan, and a resilient brokerage business. As of March 2025, Freedom Group serves around 5 million customers, including over 4.4 million financial clients, with its SuperApp becoming a key digital tool for users' day-to-day financial activities. Market leadership in Kazakhstan, growth in Europe S&P highlighted Freedom's continued leadership in Kazakhstan's retail brokerage sector, serving approximately 683,000 clients worldwide, of whom over 151,000 executed at least one trade in the last quarter of FY2025. The group is also expanding its presence in Europe, with 391,000 clients via its Cyprus-based subsidiary and offices in 10 EU countries. The holding company continues to invest in the telecom segment and maintains a sustainable business model supported by income from brokerage operations. About Freedom Holding Corp. Freedom Holding Corp. is an international financial and technology group listed on the Nasdaq (ticker: FRHC). The company offers investment, banking, insurance, and digital services through its integrated platform, Freedom SuperApp. The group operates in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The Company's principal executive office is located in New York City. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC). Contact Public Relations
New Straits Times
2 days ago
- Business
- New Straits Times
I-Berhad commits RM10mil for i-City smart city push
SHAH ALAM: I-Berhad has allocated RM10 million for the rollout of intelligent infrastructure pilot projects across i-City, reinforcing its commitment to smart city development as part of its broader transition into a technology-driven urban platform. The latest initiative underscores the company's focus on embedding artificial intelligence and robotics into the core of i-City's ecosystem, transforming it into a truly tech-enabled intelligent city. In a statement, I-Berhad said these technologies will be integrated into building management systems, tenant services, and community engagement platforms, aimed at boosting automation, operational efficiency, and personalised urban experiences. "Our growth journey has always been grounded in bold vision and forward planning," said chairman Tan Sri Lim Kim Hong. "i-City was built two decades ago as Malaysia's first digital city with fibre-to-home broadband and smart infrastructure. Today, we are ready to write the next chapter by elevating i-City into an intelligent, adaptive urban ecosystem." With a strong recurring income base, sustained earnings growth, and an expanding digital infrastructure, I-Berhad is positioning i-City as a tech-centric urban hub that appeals to businesses, residents, and digital tourists, while enhancing overall property values within the development. The group delivered a robust financial performance in 2024, with revenue climbing 27 per cent year on year. Profit attributable to shareholders rose 143 per cent to RM29.2 million, up from RM12 million in 2023, a testament to the group's solid fundamentals and evolving business model. This growth trajectory continued into the first quarter of 2025 (Q1 2025), with revenue surging 53 per cent and net profit attributable to shareholders jumping 144 per cent year-on-year. All three of I-Berhad's core segments, property development, property investment, and leisure and hospitality, contributed meaningfully to earnings, reinforcing the strength of its diversified operations. According to Lim, these results reflect I-Berhad's successful pivot from a conventional property developer to a future-ready platform focused on long-term value creation through asset optimisation, digital transformation, and stable recurring income. The group's digital initiatives are designed to be self-sustaining, with monetisation driven by SuperApp service revenues, enhanced leasing from value-added property solutions, and cost savings through predictive maintenance and automation, he said. Lim said that by placing technology at the core of its business model, I-Berhad is strategically positioned at the intersection of real estate, digital innovation, and recurring income, unlocking scalable growth and new value creation opportunities. "With a technology-forward model and recurring income focus, I-Bhd is well-positioned to create long-term shareholder value," said Lim.
Yahoo
13-06-2025
- Business
- Yahoo
Freedom Holding Corp. Reports Fiscal Year 2025 Financial Results
Company Continues Top Line Growth Trend with 23% Increase in Reported Revenue NEW YORK, June 13, 2025--(BUSINESS WIRE)--Freedom Holding Corp. (the "Company") (NASDAQ: FRHC), a multinational diversified financial services holding company with a presence in 22 countries, today announced the financial results for their fiscal year 2025. Highlights include the following: $2.05 billion in revenue versus $1.67 billion for the fiscal year 2024, a 23% increase Net income of $1.40 earnings per diluted share; $1.43 per basic share $9.9 billion in total assets as of March 31, 2025 Headcount of 8,764 as of March 31, 2025 Fiscal 2025 Financial Highlights: The Company recognized revenue of approximately $2.05 billion in fiscal 2025, compared to $1.67 billion in fiscal 2024, a 23% increase. The Company's total expense was approximately $1.94 billion in fiscal 2025 as compared to $1.23 billion in fiscal 2024. Net income was approximately $84.5 million for fiscal 2025 compared to $375 million for the previous fiscal year, resulting in basic and diluted earnings per share of $1.43 and $1.40, respectively. This compares to $6.37 and $6.33 per share, respectively, last year. Weighted average common shares outstanding used to compute diluted earnings per share for the fiscal years ended March 31, 2025, and 2024 were 60.5 million and 59.4 million, respectively. Total assets were $9.9 billion on March 31, 2025, as compared to $8.3 billion as of the fiscal 2024 year-end. "An offering of increasingly diversified fintech-based services continues to attract new customers…" "Fiscal 2025 was another year of strong top-line growth for Freedom with revenue from both our brokerage and insurance businesses increasing by double-digits," said Timur Turlov, the Company's founder and chief executive officer. "This continued growth reflects the success of the investments we are making in digital infrastructure, AI, and our offering of increasingly diversified fintech-based services which continues to attract new customers." Turlov continued, "We are especially proud of the success of our Freedom SuperApp which not only provides customers access to the best products and services available from Freedom in our brokerage, banking and insurance ecosystem, but also allows them to shop, compare, save money, and earn cash back from retailers. Since its launch in April 2024, SuperApp has met with enthusiastic market acceptance, signing up over 1 million monthly active users and 183,000 daily active users in just over a year. Additional Fiscal 2025 highlights: Our fee and commission income for fiscal 2025 was $505 million, an increase of $64.7 million, or 15%, compared to fiscal 2024. The increase was mainly attributable to higher fee and commission income from brokerage services, primarily driven by the growth in retail brokerage customers from 530,000 to 683,000 at the end of fiscal 2025. We had approximately 2,515,000 bank customers at our Freedom Bank KZ subsidiary as of March 31, 2025, as compared to approximately 904,000 as of March 31, 2024. Freedom's insurance underwriting income for fiscal 2025 was $617.6 million, an increase of $353.4 million. This increase was driven by the expansion of the Company's insurance operations such as pension annuity and accident insurance, and an increase in the number of customers from 534,000 to 1,170,000 during the fiscal year. Freedom also had a gain of $12.4 million on derivatives trading, versus a loss of $103.8 million in 2024. "We are also excited to be entering the telecommunications and media markets this fiscal year… "Freedom ended the fiscal year with 8,764 employees – 2,567 more than at the same time a year ago, which bears witness to our rapid growth across the financial services sector in Kazakhstan and in other core markets," said Turlov. "We are proud of our employees and their efforts, as well as our Company's contributions to worthy causes in sports and education which include the Kazakhstan Chess Federation and the 2024 FIDE World Rapid & Blitz Chess Championship last December in New York. We continued our support for the development of chess in Kazakhstan. During the fiscal year ending March 31, 2025, the Fund has made financial contributions to the Kazakhstan Chess Federation to support the preparation and holding of championships, tournaments, and training camps. We supported the International Biology Olympiad (IBO), a prestigious competition among secondary school students from around the world, by financing its opening and closing ceremonies. We acted as the General Partner of the Kazakhstan Collegiate Programming Federation for its participation in the final round of one of the largest international competitions in the IT sphere, the ICPC World Finals 2024, in Astana. In 2024, we provided financial support for construction of a new center for advanced technologies, development, and research began at SDU University in Almaty. The new university building will serve as a hub for conducting research in the fintech field. The modern campus, opened in March 2025, features AI labs, fintech research centers, financial literacy zones, and interactive educational spaces. We continued supporting the 'Teach for Qazaqstan' initiative with funds covering operational costs and holding educational events. As part of the initiative, teachers receive access to master classes, seminars and specialized training modules aimed at creating a supportive and stimulating learning environment. Freedom Holding Corp. continued supporting the development of various sports in Kazakhstan, including football, tennis, and cycling." Concluded Turlov, "Looking ahead to fiscal 2026, we will continue to make investments in our digital infrastructure and AI to build out the Freedom portfolio of brokerage, banking and insurance services – an ecosystem that is disrupting regional banking and online retail services. We are also excited to be entering the telecommunications and media markets in Kazakhstan this fiscal year, an effort which is supported by our additional $200 million domestic bond offering last September, which was the largest offering of its kind to date on the Astana International Exchange." On April 30, 2025, the Company completed the acquisition of 100% of a new subsidiary Astel Group Ltd. by Freedom Telecom from a third party for $22.6 million as part of our expansion into the telecommunications market in Kazakhstan and building a digital fintech ecosystem. Astel Group Ltd. is the largest independent fixed-line operator providing modern telecommunications services, operating in the B2G and B2B segments. On June 27, 2025, following the close of the U.S. equity markets, Freedom Holding Corp. will be added to the Russell 3000® Index as part of the index's annual reconstitution. The Russell 3000® Index measures the performance of the 3,000 largest publicly traded U.S. companies, representing approximately 98% of the investable U.S. equity market. Inclusion in the Russell 3000® Index is expected to enhance the Company's visibility within the investment community and broaden its shareholder base. About Freedom Holding Corp. Freedom Holding Corp., a Nevada corporation, is a diversified financial services holding company conducting retail securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, mortgages, insurance, and consumer banking through its subsidiaries, operating under the name Freedom Finance in Europe and Central Asia, and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 8,764 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, International Trading System Limited, Armenia Stock Exchange, Kyrgyz Stock Exchange, the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange. Freedom Holding Corp.'s common shares are registered under the United States Securities Exchange Act of 1934 and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc. The Company has its main market of operations in Kazakhstan and has operations through its subsidiaries in 22 countries. To learn more about Freedom Holding Corp., visit Cautionary Note Regarding Forward-Looking Statements This release contains "forward-looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. All forward-looking statements are subject to uncertainty and changes in circumstances. In some cases, forward-looking statements can be identified by terminology such as "expect," "new," "plan," "seek," and "will," or the negative of such terms or other comparable terminology and include statements relating to our plans, intentions and expectations including our plans to enter the telecommunications market, our expectations with respect to 2026 and other non-historical statements. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions, and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include economic, business, and regulatory risks and other factors including those identified in the Company's periodic and current reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Website Disclosure Freedom Holding Corp. intends to use its website, as a means for disclosing material non-public information and for complying with U.S. Securities and Exchange Commission Regulation FD and other disclosure obligation. Financials: FREEDOM HOLDING BALANCE SHEETS(All amounts in thousands of United States dollars, unless otherwise stated) March 31,2025 March 31,2024 ASSETS Cash and cash equivalents $ 837,302 $ 545,084 Restricted cash 807,468 462,637 Investment securities 2,814,733 3,905,241 Margin lending, brokerage and other receivables, net 3,319,145 1,660,275 Loans issued (including $188,445 and $147,440 to related parties) 1,595,435 1,381,715 Fixed assets, net 191,103 83,002 Intangible assets, net 54,186 47,668 Goodwill 49,093 52,648 Right-of-use asset 39,828 36,324 Insurance contract assets 37,183 24,922 Other assets, net (including $18,080 and $5,257 with related parties) 168,541 102,414 TOTAL ASSETS $ 9,914,017 $ 8,301,930 LIABILITIES AND SHAREHOLDERS' EQUITY Securities repurchase agreement obligations $ 1,418,443 $ 2,756,596 Customer liabilities 4,304,999 2,273,830 Margin lending and trade payables 1,322,241 867,880 Liabilities from insurance activity 481,539 297,180 Current income tax liability 28,919 32,996 Debt securities issued 469,551 267,251 Lease liability 40,525 35,794 Liability arising from continuing involvement 503,705 521,885 Other liabilities 129,737 81,560 TOTAL LIABILITIES $ 8,699,659 $ 7,134,972 Commitments and Contingent Liabilities (Note 28) — — SHAREHOLDERS' EQUITY Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding — Common stock - $0.001 par value; 500,000,000 shares authorized; 60,993,949 and 60,321,813 shares issued and outstanding as of March 31, 2025 and March 31, 2024, respectively 61 60 Additional paid in capital 246,610 183,788 Retained earnings 1,085,565 998,740 Accumulated other comprehensive loss (117,995 ) (18,938 ) TOTAL FRHC SHAREHOLDERS' EQUITY $ 1,214,241 $ 1,163,650 Non-controlling interest 117 3,308 TOTAL SHAREHOLDERS' EQUITY $ 1,214,358 $ 1,166,958 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 9,914,017 $ 8,301,930 FREEDOM HOLDING CORP. CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (All amounts in thousands of United States dollars, unless otherwise stated) Years ended March 31, 2025 2024 2023 Revenue: Fee and commission income (including $4,725, $65,972 and $199,235 from related parties) $ 505,026 $ 440,333 $ 327,215 Net (loss)/gain on trading securities (57,810 ) 133,854 71,084 Interest income (including $1,731 , $24,941 and $23,191 from related parties) 864,453 828,224 294,695 Insurance underwriting income 617,596 264,218 115,371 Net gain on foreign exchange operations 51,684 72,245 52,154 Net gain/(loss) on derivatives 12,404 (103,794 ) (64,826 ) Sales of goods and services 40,102 21,576 — Other income 17,072 9,696 3,448 TOTAL REVENUE, NET 2,050,527 1,666,352 799,141 Expense: Fee and commission expense 346,074 154,351 65,660 Interest expense 535,895 501,111 208,947 Insurance claims incurred, net of reinsurance 298,109 139,561 77,329 Payroll and bonuses 288,163 181,023 81,819 Professional services 28,924 34,238 17,006 Stock compensation expense 59,592 22,719 9,293 Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 124,627 38,327 14,059 General and administrative expense (including $1,704, $10,341 and $2,953 from related parties) 162,474 120,888 59,971 Allowance for expected credit losses 62,445 21,225 29,119 Cost of sales 31,278 17,538 — TOTAL EXPENSE 1,937,581 1,230,981 563,203 INCOME BEFORE INCOME TAX 112,946 435,371 235,938 Income tax expense (28,425 ) (60,419 ) (42,776 ) INCOME FROM CONTINUING OPERATIONS 84,521 374,952 193,162 Income before income tax expense of discontinued operations — — 68,160 Reclassification of loss from cumulative translation adjustment of discontinued operations — — (25,415 ) Loss from divestiture of discontinued operations — — (26,118 ) Income tax benefit of discontinued operations — — (4,203 ) Income from discontinued operations — — 12,424 NET INCOME 84,521 374,952 205,586 Less: Net (loss)/income attributable to non-controlling interest in subsidiary (129 ) (588 ) 446 NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST $ 84,650 $ 375,540 $ 205,140 OTHER COMPREHENSIVE INCOME Change in unrealized (loss)/gain on investments available-for-sale, net of tax effect 4,364 6,196 1,431 Reclassification adjustment for net realized loss/(gain) on available-for-sale investments disposed of in the period, net of tax effect 681 (3,209 ) (2,916 ) Reclassification of loss from cumulative translation adjustment of discontinued operations — 25,415 Foreign currency translation adjustments (104,102 ) 12,075 5,195 OTHER COMPREHENSIVE INCOME (99,057 ) 15,062 29,125 COMPREHENSIVE (LOSS)/INCOME BEFORE NON-CONTROLLING INTERESTS $ (14,536 ) $ 390,014 $ 234,711 Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary (129 ) (588 ) 446 COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO CONTROLLING INTEREST $ (14,407 ) $ 390,602 $ 234,265 EARNINGS PER COMMON SHARE (In U.S. dollars): Earnings from continuing operations per common share - basic 1.43 6.37 3.29 Earnings from continuing operations per common share - diluted 1.40 6.33 3.24 Earnings/(loss) from discontinued operations per common share - basic — — 0.21 Earnings/(loss) from discontinued operations per common share - diluted — — 0.21 Earnings per common share - basic 1.43 6.37 3.50 Earnings per common share - diluted 1.40 6.33 3.45 Weighted average number of shares (basic) 59,393,629 58,958,363 58,629,580 Weighted average number of shares (diluted) 60,490,564 59,362,982 59,504,811 View source version on Contacts Natalia KharlashinaPublic RelationsFreedom Holding Corp.+7 701 364 1454prglobal@ Ramina Fakhrutdinova (KZ)Public RelationsFreedom Finance JSC+7 777 377 8868pr@ Media Contact for Freedom US MarketsDeborah Kostroun, Zito Partnersdeborah@ +1 201-403-8158 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
13-06-2025
- Business
- Business Wire
Freedom Holding Corp. Reports Fiscal Year 2025 Financial Results
- Company Continues Top Line Growth Trend with 23% Increase in Reported Revenue NEW YORK--(BUSINESS WIRE)--Freedom Holding Corp. (the 'Company') (NASDAQ: FRHC), a multinational diversified financial services holding company with a presence in 22 countries, today announced the financial results for their fiscal year 2025. Highlights include the following: $2.05 billion in revenue versus $1.67 billion for the fiscal year 2024, a 23% increase Net income of $1.40 earnings per diluted share; $1.43 per basic share $9.9 billion in total assets as of March 31, 2025 Headcount of 8,764 as of March 31, 2025 Fiscal 2025 Financial Highlights: The Company recognized revenue of approximately $2.05 billion in fiscal 2025, compared to $1.67 billion in fiscal 2024, a 23% increase. The Company's total expense was approximately $1.94 billion in fiscal 2025 as compared to $1.23 billion in fiscal 2024. Net income was approximately $84.5 million for fiscal 2025 compared to $375 million for the previous fiscal year, resulting in basic and diluted earnings per share of $1.43 and $1.40, respectively. This compares to $6.37 and $6.33 per share, respectively, last year. Weighted average common shares outstanding used to compute diluted earnings per share for the fiscal years ended March 31, 2025, and 2024 were 60.5 million and 59.4 million, respectively. Total assets were $9.9 billion on March 31, 2025, as compared to $8.3 billion as of the fiscal 2024 year-end. "An offering of increasingly diversified fintech-based services continues to attract new customers…' 'Fiscal 2025 was another year of strong top-line growth for Freedom with revenue from both our brokerage and insurance businesses increasing by double-digits,' said Timur Turlov, the Company's founder and chief executive officer. 'This continued growth reflects the success of the investments we are making in digital infrastructure, AI, and our offering of increasingly diversified fintech-based services which continues to attract new customers.' Turlov continued, 'We are especially proud of the success of our Freedom SuperApp which not only provides customers access to the best products and services available from Freedom in our brokerage, banking and insurance ecosystem, but also allows them to shop, compare, save money, and earn cash back from retailers. Since its launch in April 2024, SuperApp has met with enthusiastic market acceptance, signing up over 1 million monthly active users and 183,000 daily active users in just over a year. Additional Fiscal 2025 highlights: Our fee and commission income for fiscal 2025 was $505 million, an increase of $64.7 million, or 15%, compared to fiscal 2024. The increase was mainly attributable to higher fee and commission income from brokerage services, primarily driven by the growth in retail brokerage customers from 530,000 to 683,000 at the end of fiscal 2025. We had approximately 2,515,000 bank customers at our Freedom Bank KZ subsidiary as of March 31, 2025, as compared to approximately 904,000 as of March 31, 2024. Freedom's insurance underwriting income for fiscal 2025 was $617.6 million, an increase of $353.4 million. This increase was driven by the expansion of the Company's insurance operations such as pension annuity and accident insurance, and an increase in the number of customers from 534,000 to 1,170,000 during the fiscal year. Freedom also had a gain of $12.4 million on derivatives trading, versus a loss of $103.8 million in 2024. 'We are also excited to be entering the telecommunications and media markets this fiscal year… 'Freedom ended the fiscal year with 8,764 employees – 2,567 more than at the same time a year ago, which bears witness to our rapid growth across the financial services sector in Kazakhstan and in other core markets,' said Turlov. 'We are proud of our employees and their efforts, as well as our Company's contributions to worthy causes in sports and education which include the Kazakhstan Chess Federation and the 2024 FIDE World Rapid & Blitz Chess Championship last December in New York. We continued our support for the development of chess in Kazakhstan. During the fiscal year ending March 31, 2025, the Fund has made financial contributions to the Kazakhstan Chess Federation to support the preparation and holding of championships, tournaments, and training camps. We supported the International Biology Olympiad (IBO), a prestigious competition among secondary school students from around the world, by financing its opening and closing ceremonies. We acted as the General Partner of the Kazakhstan Collegiate Programming Federation for its participation in the final round of one of the largest international competitions in the IT sphere, the ICPC World Finals 2024, in Astana. In 2024, we provided financial support for construction of a new center for advanced technologies, development, and research began at SDU University in Almaty. The new university building will serve as a hub for conducting research in the fintech field. The modern campus, opened in March 2025, features AI labs, fintech research centers, financial literacy zones, and interactive educational spaces. We continued supporting the 'Teach for Qazaqstan' initiative with funds covering operational costs and holding educational events. As part of the initiative, teachers receive access to master classes, seminars and specialized training modules aimed at creating a supportive and stimulating learning environment. Freedom Holding Corp. continued supporting the development of various sports in Kazakhstan, including football, tennis, and cycling.' Concluded Turlov, 'Looking ahead to fiscal 2026, we will continue to make investments in our digital infrastructure and AI to build out the Freedom portfolio of brokerage, banking and insurance services – an ecosystem that is disrupting regional banking and online retail services. We are also excited to be entering the telecommunications and media markets in Kazakhstan this fiscal year, an effort which is supported by our additional $200 million domestic bond offering last September, which was the largest offering of its kind to date on the Astana International Exchange.' On April 30, 2025, the Company completed the acquisition of 100% of a new subsidiary Astel Group Ltd. by Freedom Telecom from a third party for $22.6 million as part of our expansion into the telecommunications market in Kazakhstan and building a digital fintech ecosystem. Astel Group Ltd. is the largest independent fixed-line operator providing modern telecommunications services, operating in the B2G and B2B segments. On June 27, 2025, following the close of the U.S. equity markets, Freedom Holding Corp. will be added to the Russell 3000® Index as part of the index's annual reconstitution. The Russell 3000® Index measures the performance of the 3,000 largest publicly traded U.S. companies, representing approximately 98% of the investable U.S. equity market. Inclusion in the Russell 3000® Index is expected to enhance the Company's visibility within the investment community and broaden its shareholder base. About Freedom Holding Corp. Freedom Holding Corp., a Nevada corporation, is a diversified financial services holding company conducting retail securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, mortgages, insurance, and consumer banking through its subsidiaries, operating under the name Freedom Finance in Europe and Central Asia, and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 8,764 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, International Trading System Limited, Armenia Stock Exchange, Kyrgyz Stock Exchange, the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange. Freedom Holding Corp.'s common shares are registered under the United States Securities Exchange Act of 1934 and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc. The Company has its main market of operations in Kazakhstan and has operations through its subsidiaries in 22 countries. To learn more about Freedom Holding Corp., visit Cautionary Note Regarding Forward-Looking Statements This release contains "forward-looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. All forward-looking statements are subject to uncertainty and changes in circumstances. In some cases, forward-looking statements can be identified by terminology such as "expect," "new," "plan," "seek," and "will," or the negative of such terms or other comparable terminology and include statements relating to our plans, intentions and expectations including our plans to enter the telecommunications market, our expectations with respect to 2026 and other non-historical statements. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions, and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include economic, business, and regulatory risks and other factors including those identified in the Company's periodic and current reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Website Disclosure Freedom Holding Corp. intends to use its website, as a means for disclosing material non-public information and for complying with U.S. Securities and Exchange Commission Regulation FD and other disclosure obligation. FREEDOM HOLDING CORP. CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (All amounts in thousands of United States dollars, unless otherwise stated) Years ended March 31, 2025 2024 2023 Revenue: Fee and commission income (including $4,725, $65,972 and $199,235 from related parties) $ 505,026 $ 440,333 $ 327,215 Net (loss)/gain on trading securities (57,810 ) 133,854 71,084 Interest income (including $1,731 , $24,941 and $23,191 from related parties) 864,453 828,224 294,695 Insurance underwriting income 617,596 264,218 115,371 Net gain on foreign exchange operations 51,684 72,245 52,154 Net gain/(loss) on derivatives 12,404 (103,794 ) (64,826 ) Sales of goods and services 40,102 21,576 — Other income 17,072 9,696 3,448 TOTAL REVENUE, NET 2,050,527 1,666,352 799,141 Expense: Fee and commission expense 346,074 154,351 65,660 Interest expense 535,895 501,111 208,947 Insurance claims incurred, net of reinsurance 298,109 139,561 77,329 Payroll and bonuses 288,163 181,023 81,819 Professional services 28,924 34,238 17,006 Stock compensation expense 59,592 22,719 9,293 Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 124,627 38,327 14,059 General and administrative expense (including $1,704, $10,341 and $2,953 from related parties) 162,474 120,888 59,971 Allowance for expected credit losses 62,445 21,225 29,119 Cost of sales 31,278 17,538 — TOTAL EXPENSE 1,937,581 1,230,981 563,203 INCOME BEFORE INCOME TAX 112,946 435,371 235,938 Income tax expense (28,425 ) (60,419 ) (42,776 ) INCOME FROM CONTINUING OPERATIONS 84,521 374,952 193,162 Income before income tax expense of discontinued operations — — 68,160 — — (25,415 ) Loss from divestiture of discontinued operations — — (26,118 ) Income tax benefit of discontinued operations — — (4,203 ) Income from discontinued operations — — 12,424 NET INCOME 84,521 374,952 205,586 Less: Net (loss)/income attributable to non-controlling interest in subsidiary (129 ) (588 ) 446 OTHER COMPREHENSIVE INCOME Change in unrealized (loss)/gain on investments available-for-sale, net of tax effect 4,364 6,196 1,431 Reclassification adjustment for net realized loss/(gain) on available-for-sale investments disposed of in the period, net of tax effect 681 (3,209 ) (2,916 ) — 25,415 Foreign currency translation adjustments (104,102 ) 12,075 5,195 (99,057 ) 15,062 29,125 Expand COMPREHENSIVE (LOSS)/INCOME BEFORE NON-CONTROLLING INTERESTS $ (14,536 ) $ 390,014 $ 234,711 Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary (129 ) (588 ) 446 EARNINGS PER COMMON SHARE (In U.S. dollars): Earnings from continuing operations per common share - basic 1.43 6.37 3.29 Earnings from continuing operations per common share - diluted 1.40 6.33 3.24 Earnings/(loss) from discontinued operations per common share - basic — — 0.21 Earnings/(loss) from discontinued operations per common share - diluted — — 0.21 Earnings per common share - basic 1.43 6.37 3.50 Earnings per common share - diluted 1.40 6.33 3.45 Weighted average number of shares (basic) 59,393,629 58,958,363 58,629,580 Weighted average number of shares (diluted) 60,490,564 59,362,982 59,504,811 Expand Contacts Natalia Kharlashina Public Relations Freedom Holding Corp. +7 701 364 1454 prglobal@ Ramina Fakhrutdinova (KZ) Public Relations Freedom Finance JSC +7 777 377 8868 pr@ Media Contact for Freedom US Markets Deborah Kostroun, Zito Partners deborah@ +1 201-403-8158 Industry: Finance Banking Professional Services Other Professional Services Fintech More News From Freedom Holding Corp. Get RSS Feed FIDE World Rapid & Blitz Chess Championship Announces Full List of Players Competing for World Title NEW YORK--(BUSINESS WIRE)--This holiday season, New York City's financial district will transform into a battleground for the world's greatest chess minds in the 2024 FIDE World Rapid & Blitz Chess Championship. The tournament, sponsored by Freedom Holding Corp. (NASDAQ: FRHC), will be held December 26-31 featuring fast-paced, high-stakes games and not the typical hours-long battles. This six-day event will showcase elite chess players from every continent as they converge on the heart of W... Chess and Finance Conference Makes Wall Street Debut During FIDE World Rapid & Blitz Chess Championship in New York City NEW YORK--(BUSINESS WIRE)--The 2024 FIDE World Rapid & Blitz Championships is taking the fusion of chess and finance to the next level with the introduction of Wall Street Gambit, a one-of-a-kind chess and finance conference that'll be held on Sunday, December 29, at Cipriani 55 Wall Street. Wall Street Gambit features an exceptional lineup of keynote speakers and a unique opportunity to play blitz against legends Magnus Carlsen, Viswanathan Anand and Fabiano Caruana, as well as a tournamen... Freedom Holding Corp. NASDAQ:FRHC Release Versions English Contacts Natalia Kharlashina Public Relations Freedom Holding Corp. +7 701 364 1454 prglobal@ Ramina Fakhrutdinova (KZ) Public Relations Freedom Finance JSC +7 777 377 8868 pr@ Media Contact for Freedom US Markets Deborah Kostroun, Zito Partners deborah@ +1 201-403-8158
