Freedom Holding Corp. Reports Financial Results for the Nine Months and Quarter Ended December 31, 2025

Rhea-AI Summary

Freedom Holding Corp. (NASDAQ: FRHC) reported financial results for the three and nine months ended December 31, 2025, showing asset and equity expansion, strong operating cash flow, and customer growth. Total assets reached $12.38 billion (+25% year-over-year); shareholders' equity rose to $1.40 billion. Net income for the quarter was $76.2 million, with diluted EPS of $1.25 for the quarter and $2.38 for the nine months. Cash, cash equivalents, and restricted cash totaled $3.51 billion, supporting continued platform expansion and product rollout.

Positive

• Total assets of $12.38 billion (+25% year-over-year)
• Operating cash flow of $1.73 billion for nine months
• Shareholders' equity increased to $1.40 billion (+15.7%)

Negative

• None.

Key Figures

Total assets: $12.38B Operating cash flow: $1.73B Shareholders' equity: $1.40B +5 more

8 metrics

Total assets $12.38B End of Q3 FY2026 vs $9.91B prior fiscal year-end

Operating cash flow $1.73B Nine months ended December 31, 2025

Shareholders' equity $1.40B End of Q3 FY2026, up from $1.21B

Net income $76.2M Q3 FY2026

Diluted EPS $1.25 Q3 FY2026

Diluted EPS (9M) $2.38 Nine months ended December 31, 2025

Quarterly revenue $628.6M Three months ended December 31, 2025

Banking customers 4.5M Up from 2.5M over nine months

Market Reality Check

Price: $122.16 Vol: Volume 89,139 is below th...

normal vol

$122.16 Last Close

Volume Volume 89,139 is below the 20-day average of 107,364, suggesting a muted pre-news setup. normal

Technical Shares at $122.16 trade below the 200-day MA of $152.39 and sit 37.03% under the 52-week high of $194.01.

Peers on Argus

FRHC was down 0.49% while key peers were mixed: VOYA (+0.78%), HTH (+1.16%), IX ...

FRHC was down 0.49% while key peers were mixed: VOYA (+0.78%), HTH (+1.16%), IX (+3.22%), TREE (-3.69%), RILY (-0.89%). The pattern points to stock-specific factors rather than a broad sector move.

Previous Earnings Reports

5 past events · Latest: Nov 07 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	1H FY2026 earnings	Positive	-1.5%	1H FY2026 revenue and net income growth with expanding customer metrics.
Nov 07	Q2 FY2026 earnings	Positive	-1.5%	Q2 FY2026 revenue and earnings with stronger cash and asset base.
Aug 08	Q1 FY2026 earnings	Positive	-1.9%	Q1 FY2026 revenue up 17% and higher net income per share.
Jun 13	FY2025 results	Neutral	+3.2%	FY2025 revenue growth with materially lower net income year over year.
Feb 07	Q3 FY2025 earnings	Neutral	+5.3%	Q3 FY2025 strong revenue and asset growth but higher operating expenses.

Pattern Detected

Earnings releases often highlighted growth and ecosystem expansion, yet several past positive updates were followed by modestly negative next-day moves.

Recent Company History

Over the past year, Freedom Holding has reported multiple earnings updates showing rising revenue, expanding assets, and growing customer counts across brokerage and banking. Events from Feb 07, 2025 through Nov 07, 2025 detail progression from quarterly to full-year FY2025 results and then into FY2026 Q1 and Q2. Despite generally constructive fundamentals, several earnings releases saw short-term share price declines, while a few events with more mixed profit trends coincided with positive reactions.

Historical Comparison

earnings

+0.7 %

Average Historical Move

Historical Analysis

In the last five earnings releases, FRHC’s average next-day move was about 0.73%, with several fundamentally strong reports followed by modest share-price pullbacks.

Typical Pattern

Earnings events trace a path from Q3 FY2025 through FY2025 and into Q1 and Q2 FY2026, showing growing assets, expanding customer bases, and continued investment in technology and ecosystem development.

Market Pulse Summary

This announcement highlights substantial growth in assets to $12.38B, strong operating cash flow of ...

Analysis

This announcement highlights substantial growth in assets to $12.38B, strong operating cash flow of $1.73B, and expansion of banking customers to 4.5M and more than 7M total platform users. Compared with earlier FY2026 updates, it reinforces the trajectory of balance sheet and ecosystem scale. Investors may track future earnings for profitability trends, sustainability of cash generation, and ongoing customer growth across brokerage, banking, and insurance segments.

Key Terms

diluted earnings per share, restricted cash

2 terms

diluted earnings per share financial

"Diluted earnings per share (EPS) were $1.25 for the quarter"

Diluted earnings per share is a measure of a company's profit allocated to each share of stock, taking into account all possible shares that could be created through stock options, convertible bonds, or other securities. It shows the lowest possible earnings per share if all these potential shares were issued, helping investors understand the worst-case scenario for their ownership. This figure matters because it provides a more conservative view of a company's profitability per share.

restricted cash financial

"cash, cash equivalents, and restricted cash stood at $3.51 billion"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

AI-generated analysis. Not financial advice.

NEW YORK, Feb. 10, 2026 /PRNewswire/ -- Freedom Holding Corp. (NASDAQ: FRHC), a diversified financial services and technology group, today announced financial results for the three and nine months ended December 31, 2025, reflecting growth in assets and shareholders' equity, strong operating cash flow generation, and continued expansion of its customer base across core business segments.

The holding company's total assets at the end of the third quarter amounted to $12.38 billion, which is 25% higher than at the end of the previous fiscal year - $9.91 billion. The growth in assets was driven by the expansion of the company's own investment portfolio and an increase in client balances in brokerage accounts.

Key Financial Highlights

• For the nine months ending 31 December 2025, operating cash flow reached $1.73 billion
• Total shareholders' equity rose to $1.40 billion, up from $1.21 billion at the end of the prior fiscal year.
• Net income for the 3Q FY2026 was $76.2 million.
• Diluted earnings per share (EPS) were $1.25 for the quarter and $2.38 for the nine-month period.

Cash flow and liquidity

During the nine-month period, net cash provided by operating activities totaled $1.73 billion. This was driven primarily by growth in customer funds held in brokerage accounts, as well as a reduction in margin-related balances.

As of 31 December 2025, cash, cash equivalents, and restricted cash stood at $3.51 billion, compared to $1.64 billion at the start of the financial year.

Revenue and operating performance

Total revenue for the three months ending 31 December 2025 amounted to $628.6 million, driven by interest income, brokerage and commission revenues, and insurance premiums. Revenue for the nine-month period totaled $1.69 billion. This diversified revenue mix reflects continued customer activity across the brokerage, banking, and insurance segments, providing stability in the face of fluctuating market conditions.

Customer Growth and Business Development

Freedom Holding Corp. continued to scale its platform during the reporting period. The number of banking customers increased from 2.5 million to 4.5 million over nine months, while the brokerage customer base grew by more than 20%. Growth was supported by expanded digital offerings and continued development of the company's financial and non-financial ecosystem.

The company demonstrated the effectiveness of its diversified business model across financial, insurance, and technology segments.

"We continue to develop our digital ecosystem by integrating traditional brokerage and banking with everyday consumer services. This ecosystem supports a wide range of use cases, from daily purchases such as groceries and tickets to transactions involving complex investment instruments. The strategy we adopted several years ago - to build a trusted operating environment rather than a simple marketplace - is delivering results. More than 7 million customers now use our platform. Our SuperApp is the most downloaded application in Kazakhstan, with plans for expansion into additional markets. Global technology leaders, including NVIDIA, Amazon, and Microsoft, are participating in our projects," said Timur Turlov, Chairman of the Board of Directors and Chief Executive Officer of Freedom Holding Corp.

About Freedom Holding Corp.

Freedom Holding Corp. provides financial services in 21 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The Company's principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in Russell 3000 Index.

Contact: 

Head of Public Relations
Natalia Kharlashina
Freedom Holding Corp.
prglobal@ffin.kz 
+77013641454

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SOURCE Freedom Holding Corp.

FAQ

What were Freedom Holding Corp.'s reported total assets and YoY change as of December 31, 2025 (FRHC)?

Total assets were $12.38 billion, a 25% increase year-over-year. According to the company, asset growth was driven by its investment portfolio expansion and higher client brokerage balances.

How much operating cash flow did Freedom Holding Corp. report for the nine months ended December 31, 2025 (FRHC)?

Operating cash flow for the nine months was $1.73 billion. According to the company, this was primarily driven by growth in customer funds in brokerage accounts and reduced margin-related balances.

What were FRHC's quarterly net income and diluted EPS for the quarter ended December 31, 2025?

Net income for the quarter was $76.2 million with diluted EPS of $1.25. According to the company, revenue drivers included interest income, brokerage and commission revenues, and insurance premiums.

How many customers use Freedom Holding Corp.'s platform and what customer growth was reported (FRHC)?

More than 7 million customers use the platform, with banking customers rising from 2.5 million to 4.5 million. According to the company, growth was supported by expanded digital offerings and its SuperApp adoption.

How strong was Freedom Holding Corp.'s liquidity position as of December 31, 2025 (FRHC)?

Cash, cash equivalents, and restricted cash totaled $3.51 billion as of December 31, 2025. According to the company, this compares to $1.64 billion at the fiscal year start, reflecting improved liquidity.