Freedom Holding Corp. Reports Second Quarter Fiscal Year 2025 Financial Results

In This Article:

A Record Quarter for the Company with $581 Million in Revenue Reported

ALMATY, KAZAKHSTAN / ACCESSWIRE / November 8, 2024 / Freedom Holding Corp. (the "Company") (NASDAQ:FRHC), a multinational diversified financial services holding company with a presence through its subsidiaries in 22 countries, today announced the financial results for their second quarter and first six months of fiscal 2025. Highlights include the following:

  • $581 million in revenue for the quarter

  • Net income of $115 million, or $1.89 earnings per share, diluted, and $1.93 earnings per share, basic

  • Operating expenses of $452 million

  • $8.8 billion in assets at the end of the quarter

  • Insurance underwriting segment lead revenue growth with a 121% Y.O.Y. increase

  • Expansion to 189 offices worldwide with over 7,100 full-time employees

Second Quarter Financial Highlights:

The Company recognized revenue of approximately $581 million for the second quarter of fiscal 2025, compared to $436 million in the second quarter of fiscal 2024, a 33% increase. The Company's operating expense was approximately $452 million in the second quarter of fiscal 2025 as compared to $301 million for the same period last year, an increase of approximately 50%.

Net income was approximately $114.5 million for the second quarter of fiscal 2025 as compared to $115.5 million for the similar period in the previous fiscal year, providing for basic and diluted earnings per share of $1.93 and $1.89, respectively. This compares to $1.97 and $1.95 per share, respectively, for the same period last year. Weighted average common shares outstanding used to compute diluted earnings per share for the three-month periods ended September 30, 2024, and 2023 were 60.5 million and 59.3 million, respectively.

6 Months Year to Date Financial Highlights:

For the six months ending September 30, 2024, the Company's revenue totaled approximately $1.0 billion compared to approximately $752 million for the prior year period, an increase of 37%. The Company's operating expense was $862 million for the period as compared to $533 million in the prior year period, an increase of 62%.

Net income was approximately $149 million for the first six months of fiscal 2025, compared to $183 million for the same period in fiscal 2024, providing for basic and diluted earnings per share of $2.51 and $2.46, respectively. This compares to $3.13 and $3.09 per share, respectively, for the same period of the last fiscal year. Weighted average common shares outstanding used to compute diluted earnings per share for the six-month periods ended September 30, 2024, and 2023 were 60.4 million and 59.3 million, respectively.

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