Freedom Holding Corp (FRHC) Q3 2025 Earnings Report

Freedom Holding Corp delivered a strong top-line in QQ3 2025, with revenue of $655.19 million and gross profit of $644.24 million, yielding a gross margin of 98.33% and an operating income of $570.80 million (operating margin 87.12%). The core business generated substantial profitability, as evidenced by an EBITDA of $230.16 million and an EBITDA margin of 35.13%. However, the bottom line was notably pressured by a large negative other income/expenses item of $-472.47 million, resulting in income before tax of $98.33 million and net income of $78.28 million (net margin 11.95%). Diluted EPS was $1.29 on 60.46 million shares outstanding. YoY revenue growth was +51.9% and QoQ growth was +29.3%, while net income declined YoY by 18.8% largely due to the increased negative other income line versus the prior year.