Freedom Holding Corp. (Nasdaq: FRHC), the parent company of Freedom24, has reported its financial results for the first quarter of fiscal year 2027, covering the three months ended 30 June 2026. The company posted total net revenue of $732.5 million, up 40% year on year from $524.0 million in the same period last year.
Net income and balance sheet
Net income for the quarter stood at $31.7 million, or $0.52 per diluted share, down from $37.4 million, or $0.61 per diluted share, a year earlier. Total assets rose to $14.0 billion, up from $13.2 billion as of 31 March 2026. The group's total customer base across banking, brokerage, insurance and other segments reached 8,743,000.
Segment performance
Brokerage revenue increased by 60% to $282.6 million, supported by higher fee and commission income and increased interest income. Retail brokerage customers rose to 874,000, up from 858,000 as of 31 March 2026.
Banking revenue grew by 54% to $225.2 million, driven mainly by foreign exchange operations, gains on trading securities, higher unrealised gains from the fair value of securities, and increased interest income. Total banking clients reached 5.4 million, up from 5.0 million at the end of the previous quarter.
Credit rating upgrade
In 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. The upgrade reflects the group's progress in strengthening its financial discipline, risk management and compliance framework.
Executive comment
Timur Turlov, Founder and CEO of Freedom Holding Corp., said the quarter's results reflected the continued strength and momentum of the business across the group. He pointed to the company's digital fintech strategy, centred on the Freedom SuperApp, as a key growth driver, saying it brings the group's financial and lifestyle services together into a single platform that anticipates customer needs through data and AI.
ChessBase acquisition
During the quarter, Freedom Holding Corp. continued expanding its digital ecosystem. On 1 June 2026, the company acquired 100% of ChessBase GmbH, one of the world's oldest and largest platforms specialising in chess software, analytics and database solutions.
