New York, 10 February 2026 – Freedom Holding Corporation (NASDAQ: FRHC), a diversified financial services and technology company, has released its financial results for the third quarter and the nine months ending 31 December 2025. The report highlights significant growth in total assets and shareholder equity, alongside strong operating cash flow and an expanding customer base.
As of 31 December 2025, the company’s total assets stood at $12.38 billion, representing a 25% increase compared to the previous fiscal year. This growth was driven primarily by an expansion of its investment portfolio and increased client funds in brokerage accounts.
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Key Financial Highlights
| Metric | Nine Months (Jan–Dec 2025) | Q3 FY2026 | Previous Fiscal Year End |
|---|---|---|---|
| Total Assets | $12.38 billion | – | $9.91 billion |
| Shareholder Equity | $1.40 billion | – | $1.21 billion |
| Net Income | $1.73 billion | $76.2 million | – |
| EPS (Diluted) | $2.38 | $1.25 | – |
| Total Revenue | $1.69 billion | $628.6 million | – |
| Cash & Cash Equivalents | $3.51 billion | – | $1.64 billion |
Cash Flow and Liquidity
During the nine-month period, net cash flow from operating activities reached $1.73 billion. As of 31 December 2025, cash and cash equivalents, including restricted cash, totalled $3.51 billion, up from $1.64 billion at the start of the year. This increase was largely attributable to growth in customer deposits.
Revenue and Business Operations
Freedom Holding generated $628.6 million in revenue during Q3, derived from interest income, brokerage commissions, and insurance premiums. Total revenue for the nine months amounted to $1.69 billion, reflecting the resilience and stability of the company’s diversified income model amid market fluctuations.
Customer Base Expansion
The company also reported significant growth in its client base over the nine months. The number of banking clients increased from 2.5 million to 4.5 million, while brokerage clients grew by more than 20%. Freedom Holding continues to expand its digital and financial ecosystem to enhance everyday financial services for its users.
Chairman and CEO Timur Turlov stated, “Through our digital ecosystem, we are integrating brokerage and banking into everyday services. Our platform is now used by 7 million customers, and our super-app remains the most downloaded application in Kazakhstan.”
Company Overview
Freedom Holding operates in 21 countries, including the United States, Kazakhstan, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The company is publicly listed under the ticker FRHC on NASDAQ, KASE, and AIX.