Freedom Holding Corp. - a NASDAQ-listed global fintech ecosystem - entered the summer on a strong note, reporting record annual revenue and more than doubling its net profit, while also advancing its European expansion with a banking license application in France and seeing the conclusion of an SEC review process. Together, these developments strengthen the company’s position for further growth, reduce regulatory uncertainty, and open new opportunities in the European market.
Reporting Strong Results
Freedom Holding Corp. released its Annual Report for the fiscal year ended March 31, 2026, on June 1. According to the document, net revenue reached a record $2.19 billion, compared with $2.0 billion a year earlier. Net income more than doubled to $153.3 million from $76.2 million in fiscal year 2025. Freedom Holding Corp’s earnings per share increased to $2.56 from $1.28 a year earlier.
The record revenue reflects continued expansion across Freedom Holding’s diversified ecosystem, which combines financial (brokerage, banking, insurance), lifestyle (e-commerce, travel, events), and telecommunication segments. According to the company, customers growth was recorded across all segments, with banking customers increasing from 2.52 million to 5.03 million, brokerage clients rising from 683,000 to 858,000, and customers in the other segment growing from 605,000 to 1.105 million. The figures indicate that the group not only generates higher revenue but also successfully scales its customer base and increases cross-selling opportunities across its ecosystem through Freedom SuperApp. In March 2026, its monthly active users (MAU) climbed to 2.59 million, up from 1.02 million in March 2025, an increase of 154% year over year, while daily active users (DAU) averaged 634,578 compared with 183,000 in March 2025.
These developments, combined with regional and global expansion, reinforce one another. “Over the past few years, we have significantly expanded our customer base across brokerage, banking, and insurance by building a unified digital ecosystem,” said Timur Turlov, Freedom Holding Corp. Chairman and CEO. “At the core of this growth is our SuperApp, which brings together essential financial services, including banking, insurance, and lifestyle services in a single application.
Opening New Chapter
Another notable news was the conclusion of the SEC’s investigation of Freedom Holding. As part of the process, the group received a Wells Notice. It is a standard SEC procedure that gives a company an opportunity to respond before any enforcement decision is made. Now, Freedom Holding Corp. can formally present its answer to the issues examined by the U.S. regulator.
Similar notices have previously been received by major financial institutions and public companies, including Tesla, Goldman Sachs and JPMorgan. In many cases, comprehensive explanations provided to the U.S. regulator are sufficient to resolve outstanding concerns without further action.
Thus, in 2024, the SEC issued a Wells notice to the fintech Robinhood Markets over its crypto business, alleging that certain digital assets may qualify as securities requiring broker-dealer registration. Robinhood challenged the SEC’s position, and in 2025, the regulator closed the investigation without any enforcement action. In the same year, the SEC also dropped its lawsuit against Coinbase, the largest publicly traded cryptocurrency exchange in the U.S., without a fine. In 2025, more than 300 companies received Wells Notices.
Continuing International Expansion
International expansion remains a central part of Freedom Holding’s long-term strategy. The group is actively expanding in its home market of Kazakhstan and neighboring CIS countries. In addition, Freedom is scaling its business in Turkey, where it has recently added a banking license to its brokerage business. Recently, Freedom also applied for a banking license in France. The group sees the country as a key growth hub for its broader expansion across the European Union.
As part of its European expansion, the holding plans to allocate €500 million to a digital bank and the development of local infrastructure, Timur Turlov said in an interview with Reuters. This would significantly expand Freedom’s existing brokerage business in Europe, which it operates through the Freedom 24 platform and its brokerage subsidiary, Freedom Europe.
“We want to move beyond being a traditional brokerage. The next stage of growth in Europe is not just about expanding a classic brokerage business, but about building a broader ecosystem around it, starting with banking services,” said executive director of Freedom Finance Europe, Yevgeniy Tyapkin. He added that the group aims to bring up to 50 million potential customers into its ecosystem.
