Freedom Holding Corp. Reports Robust Q2 Fiscal 2025 Results

Freedom Holding Corp., a multinational financial services company, announced a substantial increase in revenue for its second quarter of fiscal 2025. The company achieved a record $581 million in revenue, marking a 33% rise from the $436 million reported during the same period in fiscal 2024. Despite higher operating expenses, which surged 50% to $452 million, net income remained stable at $115 million. The earnings per share slightly decreased compared to the previous year.

Driving revenue growth was the insurance underwriting segment, experiencing a 121% year-over-year increase. This expansion aligns with the company's strategic focus on the Kazakhstan market and the rollout of its Freedom SuperApp. The company reported significant growth in its customer base, particularly within its banking and insurance segments, which saw rises of 33% and 58%, respectively.

Total assets increased marginally to $8.8 billion by September 30, 2024. CEO Timur Turlov emphasized the importance of the company's digital ecosystem in maintaining competitive advantage and service innovation. Turlov highlighted the significant role of the Freedom SuperApp in accumulating consumer data to drive product development and market responsiveness.