Freedom Holding Corp. More Than Doubles Net Income and Reports Record Revenue in Fiscal 2026

Freedom Holding Corp. (Nasdaq: FRHC) announced strong financial results for fiscal 2026, ending March 31, with net income rising 101% to $153.3 million from $76.2 million in 2025. Total revenue hit a record $2.19 billion, up 9% year-over-year, while total assets grew 33% to $13.16 billion, supported by increased customer balances and proprietary investments. Key revenue drivers included a $158.8 million net gain on trading securities, primarily from Kazakhstan corporate debt sales, and a $66.8 million net gain on derivatives due to foreign-currency swaps. Fee and commission income slightly declined by 3% to $489.8 million, while insurance revenue dropped 29% to $402.4 million due to regulatory changes in Kazakhstan. However, revenue from goods and services surged 143% to $97.4 million, reflecting expansion into telecommunications after acquiring Freedom Cloud Holding. Customer growth remained robust, with brokerage accounts rising from 683,000 to 858,000 and banking customers doubling to 5.03 million. The insurance segment served 1.1 million customers, while other business segments saw an 83% increase in their customer base. Diluted earnings per share reached $2.51, up from $1.25 in 2025, reflecting the company’s operational efficiency and diversified business model. CEO Timur Turlov attributed the success to the company’s ecosystem approach, focusing on solving everyday customer needs rather than individual products. The Freedom SuperApp, an all-in-one platform for banking, payments, insurance, and government services, now has over 5 million users, with monthly active users reaching 2.59 million in March 2026—more than double the 1.02 million recorded in March 2025. The company plans to replicate this model across its global markets.