Freedom Holding expands customer base as first-quarter revenue rises

Freedom Holding Corp, the parent company of Freedom24, reported a 40 per cent year-on-year increase in net revenue for the first quarter of its 2027 financial year, driven by strong growth across its brokerage and banking operations.

The Nasdaq-listed group reported total net revenue of $732.5 million for the three months to June 30, 2026, compared with $524 million in the corresponding period a year earlier.

Net income, however, fell to $31.7m, or $0.52 per diluted share, from $37.4m, or $0.61 per diluted share, in the same quarter of the previous year.

Total assets rose to $14 billion, up from $13.2 billion at the end of March, while the group’s combined customer base across banking, brokerage, insurance and other businesses reached 8.743 million.

“Our results this quarter reflect the continued strength and momentum of our business across the Freedom ecosystem,” said Timur Turlov, founder and chief executive of Freedom Holding Corp.

“We saw meaningful growth in revenue and in our customer base, underscoring the durability of our diversified model as we continue to expand into new markets and new lines of business,” he added.

The company’s brokerage business was among the main drivers of the quarterly performance, with revenue rising 60 per cent to $282.6m.

The increase was supported by higher fee and commission income as well as increased interest income.

The number of retail brokerage customers also increased, reaching 874,000 compared with 858,000 at the end of March.

Banking revenue grew by 54 per cent to $225.2m, driven mainly by foreign exchange operations, gains on trading securities, higher unrealised gains from the fair value of securities and increased interest income.

The number of banking customers increased to 5.4 million, up from 5 million at the end of the previous quarter.

The company said its broader digital fintech strategy continued to be an important contributor to its expansion.

“The Freedom SuperApp continues to bring our financial and lifestyle services together into a single, seamless experience for our customers,” Turlov said.

“As customers can move between products effortlessly, and our platform anticipates their needs through data and AI, we build deeper relationships and deliver more value with greater efficiency,” he added.

Freedom Holding also continued expanding its digital ecosystem during the quarter.

On June 1, 2026, the group acquired 100 per cent of ChessBase GmbH, a longstanding platform specialising in chess software, analytics and database solutions.

The acquisition adds a business outside the group’s core financial services operations to its wider digital ecosystem.

The group also received a ratings upgrade during June. S&P Global Ratings raised the long-term issuer credit ratings of Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC and Freedom Bank Kazakhstan JSC from B+ to BB-, with stable outlooks.

S&P’s upgrade reflected what it described as continued progress by the group in strengthening its financial discipline, risk management and compliance framework.

The latest results come as Freedom Holding continues to expand its operations across banking, brokerage, insurance and other financial and digital services.

The company ended the quarter with 8.743 million customers across these businesses, compared with the smaller customer base recorded across the group’s operations in previous periods.

Despite the strong increase in revenue, quarterly net income remained below the level recorded a year earlier, highlighting the difference between the group’s top-line expansion and its bottom-line performance.

The company reported basic and diluted earnings per share of $0.52 for the quarter.

Indeed, the results point to continued expansion in Freedom Holding’s core brokerage and banking operations, alongside efforts to build a broader digital platform around its financial services business.