Freedom Holding Corp. Q1 FY25 10-Q Filed

TL;DR

**FREEDOM HOLDING CORP (FRHC) Q1 FY25 10-Q FILED. CHECK FINANCIALS.**

AI Summary

Freedom Holding Corp. filed its 10-Q for the period ending June 30, 2024. The filing covers the first quarter of their fiscal year 2025. The company, previously known as BMB MUNAI INC and INTERUNION FINANCIAL CORP, is incorporated in Nevada and operates in the security brokers, dealers & flotation companies sector.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Freedom Holding Corp. during the first quarter of its fiscal year 2025.

Risk Assessment

Risk Level: medium — As a publicly traded company filing quarterly reports, there are inherent risks associated with financial performance and market fluctuations.

Key Players & Entities

• Freedom Holding Corp. (company) — Filer
• BMB MUNAI INC (company) — Former Company Name
• INTERUNION FINANCIAL CORP (company) — Former Company Name
• 20240630 (date) — Period of Report
• 20240809 (date) — Filing Date

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share FRHC The Nasdaq Capital Marke
• $0 — 5,658 shares of common stock, par value $0.001, issued and outstanding. FREEDOM

Filing Documents

• frhc-20240630.htm (10-Q) — 2922KB
• ex1001employmentagreementb.htm (EX-10.01) — 57KB
• ex1002employmentagreementn.htm (EX-10.02) — 104KB
• ex1003supplementaryagreeme.htm (EX-10.03) — 17KB
• ex1004employmentagreementn.htm (EX-10.04) — 136KB
• ex1005supplementaryagreeme.htm (EX-10.05) — 10KB
• ex1006supplementaryagreeme.htm (EX-10.06) — 10KB
• ex1007outstaffingagreement.htm (EX-10.07) — 131KB
• ex1008employmentagreementn.htm (EX-10.08) — 113KB
• ex1009employmentagreementn.htm (EX-10.09) — 151KB
• ex1010employmentagreementn.htm (EX-10.10) — 128KB
• ex1011restrictedstockaward.htm (EX-10.11) — 49KB
• ex1012restrictedstockaward.htm (EX-10.12) — 53KB
• ex1013restrictedstockaward.htm (EX-10.13) — 46KB
• ex1014restrictedstockaward.htm (EX-10.14) — 45KB
• ex1015minutesno12018ofextr.htm (EX-10.15) — 56KB
• ex1016minutesno0514ofmeeti.htm (EX-10.16) — 63KB
• ex1017employmentagreementn.htm (EX-10.17) — 110KB
• exhibit3101frhc-20240630x.htm (EX-31.01) — 9KB
• exhibit3102frhc-20240630x.htm (EX-31.02) — 9KB
• exhibit3201frhc-20240630x.htm (EX-32.01) — 6KB
• 0000924805-24-000060.txt ( ) — 17258KB
• frhc-20240630.xsd (EX-101.SCH) — 109KB
• frhc-20240630_cal.xml (EX-101.CAL) — 110KB
• frhc-20240630_def.xml (EX-101.DEF) — 394KB
• frhc-20240630_lab.xml (EX-101.LAB) — 929KB
• frhc-20240630_pre.xml (EX-101.PRE) — 695KB
• frhc-20240630_htm.xml (XML) — 3578KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2024, and March 31, 2024 3 Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income for the Three Months Ended June 30, 2024 and 202 3 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2024 and 202 3 6 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended June 30, 2024 and 202 3 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 51 Item 3. Qualitative and Quantitative Disclosures About Market Risk 73 Item 4.

Controls and Procedures

Controls and Procedures 77

— OTHER INFORMATION

PART II — OTHER INFORMATION 78 Item 1.

Legal Proceedings

Legal Proceedings 78 Item 1A.

Risk Factors

Risk Factors 78 Item 5. Other Information 78 Item 6. Exhibits 79

Signatures

Signatures 80 2 Table of contents FREEDOM HOLDING CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (All amounts in thousands of United States dollars, unless otherwise stated) June 30, 2024 March 31, 2024 ASSETS Cash and cash equivalents (including $ 257 and $ 203 from related parties) $ 718,678 $ 545,084 Restricted cash (including $ 1,121 and $ — with related parties) 1,179,510 462,637 Trading securities (including $ 1,256 and $ 1,326 with related parties) 3,393,936 3,688,620 Available-for-sale securities, at fair value 262,860 216,621 Margin lending, brokerage and other receivables, net (including $ 37,836 and $ 22,039 due from related parties) 1,217,885 1,660,275 Loans issued (including $ 136,558 and $ 147,440 to related parties) 1,314,552 1,381,715 Fixed assets, net 100,474 83,002 Intangible assets, net 45,535 47,668 Goodwill 50,591 52,648 Right-of-use asset 35,006 36,324 Insurance contract assets 24,949 24,922 Other assets, net (including $ 23,057 and $ 5,257 with related parties) 139,584 102,414 TOTAL ASSETS $ 8,483,560 $ 8,301,930 LIABILITIES AND SHAREHOLDERS' EQUITY Securities repurchase agreement obligations $ 2,558,794 $ 2,756,596 Customer liabilities (including $ 84,970 and $ 44,127 to related parties) 2,699,912 2,273,830 Margin lending and trade payables (including $ 255 and $ 507 to related parties) 836,309 867,880 Liabilities from insurance activity (including $ 57 and $ 470 to related parties) 320,394 297,180 Current income tax liability 40,485 32,996 Debt securities issued 266,398 267,251 Lease liability 35,390 35,794 Liability arising from continuing involvement 505,659 521,885 Other liabilities (including $ 8,349 and $ 9,854 to related parties) 68,040 81,560 TOTAL LIABILITIES $ 7,331,381 $ 7,134,972 Commitments and Contingent Liabilities (Note 22) — — SHAREHOLDERS' EQUITY Preferred stock - $ 0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — Common stock