Freedom Holding Corp. reports 23% revenue growth for FY2025, driven by strong performance across brokerage and insurance segments

Freedom Holding Corp. (FRHC), a diversified financial services firm and the founder of Freedom24, has announced its financial results for the fiscal year ended 31 March 2025. The company reported revenue of $2.05 billion, representing a 23% year-on-year increase, reflecting the successful execution of its growth strategy across key business lines.

The financial services group, headquartered in Kazakhstan and operating through subsidiaries and representative offices in 22 countries, stated that its net profit for the year reached $84.5 million, while earnings per share stood at $1.43, based on a basic weighted average of 59.4 million shares.

The performance was driven by a 134% increase in insurance underwriting income, which rose to $618 million, alongside a 4% growth in interest income to $864 million. Commission income also rose by 15% to $505 million, supported by increasing retail client activity across its brokerage platforms.

“Fiscal 2025 was another year of strong top-line growth for Freedom, with revenue from both our brokerage and insurance businesses increasing by double digits,” said CEO and founder Timur Turlov. “This continued growth reflects the success of the investments we are making in digital infrastructure, AI, and our offering of increasingly diversified fintech-based services, which continues to attract new customers.”

As of 31 March 2025, Freedom Holding Corp.’s assets had grown by 19% year-on-year to $9.9 billion, up from $8.3 billion. The company’s headcount increased to 8,764 employees, 2,567 more than the previous year, highlighting rapid expansion across Kazakhstan and other core markets.

Digital ecosystem expansion

Freedom Holding Corp. continued to invest in its fintech ecosystem, building on the successful launch of the Freedom SuperApp in April 2024. The app, which integrates brokerage, banking, and insurance services alongside cashback and retail savings features, surpassed 1 million monthly active users and 183,000 daily active users within its first year.

“The Freedom SuperApp gives customers seamless access to our best-in-class brokerage, banking, and insurance services — and goes beyond that by enabling them to shop, compare, invest, and save, all in one integrated platform,” said Turlov.

Strategic expansion into telecommunications

As part of its diversification strategy, Freedom Holding Corp. completed the acquisition of Astel Group Ltd. on April 30, 2025, through its subsidiary Freedom Telecom. The $22.6 million acquisition marks Freedom’s entry into Kazakhstan’s telecommunications sector. Astel is the country’s largest independent fixed-line operator, serving B2G and B2B clients with modern telecom solutions.

Growing market recognition

Investor confidence in Freedom Holding Corp. continues to grow. The company’s market capitalization surpassed $10 billion in May 2025, representing a 12-fold increase since its Nasdaq IPO in 2019.

In recognition of its growth and market position, the company has been selected for inclusion in the Russell 3000® Index, effective after the U.S. market closes on June 27, 2025. The index includes the 3,000 largest publicly traded U.S. companies and represents approximately 98% of the investable U.S. equity market.

Plans for the future

Looking ahead, Freedom plans to expand further into telecommunications and media markets in Kazakhstan, supported by its additional $200 million domestic bond offering in September 2024, one the largest offerings of its kind on the Astana International Exchange.

“As we enter fiscal 2026, we remain committed to building a digital-first financial ecosystem that brings value to individuals, institutions, and governments,” said Turlov. “With continued investments in AI, infrastructure, and regional diversification, we are well positioned for long-term, sustainable growth.”