Freedom Holding Corp. (FRHC), the parent company of Freedom24, has announced two significant milestones: strong third quarter results for fiscal year 2025 and a record market capitalisation of $9 billion. These achievements underscore the success of the company’s strategy and its growing prominence in the global financial services sector.

For the quarter ended December 31, 2024, Freedom Holding Corp. reported revenues of $655.2 million, representing an increase of $236.6 million, or 57%, over the same period last year. The growth was primarily driven by higher insurance underwriting income and net gains on trading securities.

Net income for the quarter was $78.1 million, with earnings per share of $1.32 based on a weighted average of 59.4 million shares outstanding. Total assets increased from $8.302 billion to $9.135 billion over the same period.

The company’s customer base also grew significantly. As of December 31, 2024, Freedom Holding Corp. served 618,000 retail brokerage customers, 1.4 million banking customers, and 972,000 insurance customers, reflecting strong expansion across its key business segments.

The release of the results coincided with a surge in the company’s market capitalisation: shares of Freedom Holding Corp., traded on the Nasdaq Capital Market, closed at $149.61 on Thursday, February 6, taking the company’s valuation to an all-time high.

Freedom Holding Corp.’s stock has shown sustained momentum, with market capitalisation rising 85% over the past year. Since its Nasdaq debut in October 2019, FRHC’s share price has increased more than tenfold, reflecting steady growth and investor interest.

The company’s strong performance and business model were recognised by the international rating agency S&P Global Ratings. In December 2024, S&P raised the long-term credit ratings of Freedom Finance Europe Ltd — which operates under the Freedom24 brand — and three other Freedom Holding subsidiaries: Freedom Finance JSC, Freedom Finance Global PLC, and Freedom Finance Bank Kazakhstan JSC. The ratings were upgraded from ‘B’ to ‘B+’, with S&P citing the holding company’s solid position in Kazakhstan’s financial services market, its growing presence in Europe, and its diversified business portfolio, which spans brokerage, banking, and insurance operations.

In Europe, Freedom24 continues to attract a growing number of retail investors who appreciate the reliability and convenience of its trading platform. Accessible via both mobile app and web, the platform provides users with direct access to US, European, and Asian stock exchanges, enabling them to trade over one million financial instruments, including stocks, options, and exchange-traded funds (ETFs).

The platform’s rising popularity has driven Freedom24’s rapid expansion across Europe, with offices now established in Germany, France, Italy, Spain, the Netherlands, Belgium, Austria, Greece, Poland, Bulgaria, and Cyprus. Looking ahead, the company plans to further extend its European footprint with new offices in Belgium, Lithuania, and Denmark.

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