Freedom Reports Record Revenue and Doubles Profit

International fintech ecosystem Freedom has published its financial results for fiscal year 2026. The company more than doubled its net profit, while revenue reached its highest level since Freedom Holding Corp. was listed on NASDAQ, surpassing $2 billion.

Profit and Assets Growth

Net profit increased by 101% year-over-year to $153.3 million, compared to $76.2 million a year earlier. Total revenue reached $2.19 billion, representing more than a 26-fold increase since the company’s NASDAQ listing (ticker: FRHC) in 2019.

Freedom Holding Corp.’s total assets reached $13.16 billion, up 33% from $9.92 billion a year earlier. The increase was driven by the expansion of the company’s investment portfolio and higher client cash balances in brokerage accounts. Basic earnings per share for the year amounted to $2.56.

The number of brokerage clients grew by 26% to 858,000, while the banking segment doubled its client base to 5.03 million. The insurance business reached 1.1 million customers, and the client base across other business segments increased by 83% year-over-year.

Financial market operations made a significant contribution to the record results. Interest income totaled $882.5 million, up 2% compared to the previous year. Net gain on trading securities surged 375% to $201.2 million, primarily driven by sales of Kazakhstan corporate debt securities. Net gain on derivatives increased by 438% to $66.8 million, mainly due to the positive revaluation of currency swaps.

Revenue from the sale of goods and services rose by 143% to $97.4 million. The growth was largely driven by the expansion of the telecommunications segment following the acquisition of cloud provider Freedom Cloud.

The company’s workforce continued to grow alongside the business. As of March 31, 2026, Freedom employed 11,846 people worldwide. Of these, 10,830 were based in Central Asia, 627 in the Middle East, 334 in Europe, and 55 in the United States.

As part of its social initiatives, Freedom Holding Corp. allocated more than $10 million to support the Kazakhstan Chess Federation and an additional $10.7 million to the development of a youth football league.

“Freedom Holding successfully completed another financial year despite significant investments in the development of the Freedom ecosystem. Our client base continues to grow rapidly, once again confirming the effectiveness of our strategy – building institutional infrastructure not around products and services, but around solving the key everyday needs of our customers,” said Freedom Holding Corp. CEO Timur Turlov.

Freedom SuperApp and Expansion into New Markets

The main driver of ecosystem client growth has been Freedom SuperApp. The application has become one of the fastest-growing apps in Kazakhstan, regularly ranking first in downloads on the App Store and Google Play.

“Today, the daily audience of Freedom SuperApp, the heart of our ecosystem, exceeds 2.5 million users, whereas just a year ago it was slightly above one million. The total number of app users now exceeds 5 million,” said Freedom Holding Corp. founder and Chief Executive Officer Timur Turlov.

At the beginning of 2026, Turlov announced plans to launch Freedom SuperApp in international markets, particularly in Turkey. There, the holding signed an agreement with Özyol Holding and the National Bank of Kuwait to acquire a 99.32% stake in Turkish Bank A.Ş. The transaction is currently awaiting approval from Turkish regulators. At the same time, Freedom has already established a brokerage company in the country – Freedom Yatırım Menkul Değerler A.Ş.

A significant portion of Freedom’s business is concentrated in the United States, where, according to Turlov, the company also plans to launch SuperApp in the future.

“I know for certain that the solutions we have successfully implemented in Kazakhstan will prove universal across all markets where we operate,” the CEO emphasized.

Over the past year, Freedom significantly expanded its operations in Europe, launched new business lines in Central Asia, received regulatory approval to establish a bank in Georgia, and signed a number of international agreements with partners in Japan, Pakistan, and the United States.

Positive Ratings Outlook and Partnerships with Global Leaders

In addition to strong financial performance and geographic expansion, the reporting year was marked by several strategic developments and partnerships.

The holding’s efforts to strengthen risk management and compliance received positive recognition. S&P Global Ratings revised the outlook on ratings for Freedom Finance JSC, Freedom Finance Global PLC, Freedom Finance Europe Ltd, and Freedom Bank Kazakhstan from Stable to Positive while affirming the existing ratings. Moody’s also assigned long-term deposit ratings of Ba3 with a Stable outlook to Freedom’s banking business for the first time.

During fiscal year 2026, Freedom, together with NVIDIA and Kazakhstan’s Ministry of Artificial Intelligence and Digital Development, announced plans to build sovereign AI infrastructure in Kazakhstan. Freedom’s investment in the project is expected to total $2 billion.

Freedom Holding Corp. also signed an agreement with the Government of Kazakhstan and OpenAI. As a result, 165,000 Kazakhstani teachers will gain access to ChatGPT Edu, an educational version of the platform featuring enhanced privacy and data management capabilities.

The company continues to attract interest from major international institutional investors. Over the course of the year, BlackRock, Morgan Stanley, and J.P. Morgan increased their holdings in Freedom Holding Corp. shares, while BlackRock remained the company’s largest institutional shareholder.

Freedom’s shares were also added to the Moneyball investment portfolio managed by consulting firm The Motley Fool, which recommends purchasing FRHC stock. During the reporting period, Freedom Holding Corp. was included in the Russell 3000 and Russell 1000 indices, which track the performance of the largest publicly traded U.S. companies and represent approximately 98% of the investable U.S. equity market.

The company’s business model also received international recognition. A case study on the development of the Freedom ecosystem was included in the MBA curriculum of Stanford Graduate School of Business and became part of the educational library of one of the world’s leading universities.