0000924805falseMarch 31Q12025http://fasb.org/us-gaap/2024#AccountingStandardsUpdate202202Memberxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesfrhc:subsidiaryxbrli:purefrhc:issuerfrhc:times00009248052024-04-012024-06-3000009248052024-08-060000924805us-gaap:RelatedPartyMember2024-06-300000924805us-gaap:RelatedPartyMember2024-03-3100009248052024-06-3000009248052024-03-310000924805us-gaap:RelatedPartyMember2024-04-012024-06-300000924805us-gaap:RelatedPartyMember2023-04-012023-06-3000009248052023-04-012023-06-3000009248052023-03-3100009248052023-06-300000924805us-gaap:CommonStockMember2023-03-310000924805us-gaap:AdditionalPaidInCapitalMember2023-03-310000924805us-gaap:RetainedEarningsMember2023-03-310000924805us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000924805us-gaap:ParentMember2023-03-310000924805us-gaap:NoncontrollingInterestMember2023-03-3100009248052022-04-012023-03-310000924805srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2023-03-310000924805srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ParentMember2023-03-310000924805srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-03-310000924805us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300000924805us-gaap:ParentMember2023-04-012023-06-300000924805us-gaap:RetainedEarningsMember2023-04-012023-06-300000924805us-gaap:NoncontrollingInterestMember2023-04-012023-06-300000924805frhc:ArbuzGroupLLPArbuzMemberus-gaap:RetainedEarningsMember2023-04-012023-06-300000924805frhc:ArbuzGroupLLPArbuzMemberus-gaap:ParentMember2023-04-012023-06-300000924805frhc:ArbuzGroupLLPArbuzMemberus-gaap:NoncontrollingInterestMember2023-04-012023-06-300000924805frhc:ArbuzGroupLLPArbuzMember2023-04-012023-06-300000924805us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000924805us-gaap:CommonStockMember2023-06-300000924805us-gaap:AdditionalPaidInCapitalMember2023-06-300000924805us-gaap:RetainedEarningsMember2023-06-300000924805us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000924805us-gaap:ParentMember2023-06-300000924805us-gaap:NoncontrollingInterestMember2023-06-300000924805us-gaap:CommonStockMember2024-03-310000924805us-gaap:AdditionalPaidInCapitalMember2024-03-310000924805us-gaap:RetainedEarningsMember2024-03-310000924805us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000924805us-gaap:ParentMember2024-03-310000924805us-gaap:NoncontrollingInterestMember2024-03-310000924805us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300000924805us-gaap:ParentMember2024-04-012024-06-300000924805us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000924805us-gaap:RetainedEarningsMember2024-04-012024-06-300000924805us-gaap:NoncontrollingInterestMember2024-04-012024-06-300000924805us-gaap:CommonStockMember2024-06-300000924805us-gaap:AdditionalPaidInCapitalMember2024-06-300000924805us-gaap:RetainedEarningsMember2024-06-300000924805us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000924805us-gaap:ParentMember2024-06-300000924805us-gaap:NoncontrollingInterestMember2024-06-300000924805frhc:FreedomFinanceJSCFreedomKZMember2024-06-300000924805frhc:FreedomFinanceGlobalPLCFreedomGlobalMember2024-06-300000924805frhc:FreedomFinanceEuropeLimitedFreedomEUMember2024-06-300000924805frhc:FreedomFinanceArmeniaLLCFreedomARMember2024-06-300000924805frhc:PrimeExecutionsInc.PrimeExMember2024-06-300000924805frhc:ForeignEnterpriseLLCFreedomFinanceMember2024-06-300000924805frhc:FreedomBankKazakhstanJSCFreedomBankKZMember2024-06-300000924805frhc:FreedomFinanceLifeJSCFreedomLifeMember2024-06-300000924805frhc:FreedomFinanceInsuranceJSCFreedomInsuranceMember2024-06-300000924805frhc:TicketonEventsLLPTicketonMember2024-06-300000924805frhc:FreedomFinanceSpecialPurposeCompanyLTDFreedomSPCMember2024-06-300000924805frhc:FreedomFinanceCommercialLLPMember2024-06-300000924805frhc:FreedomTechnologiesLLPPayboxMember2024-06-300000924805frhc:AviataLLPAviataMember2024-06-300000924805frhc:InternetTourismLLPInternetTourismMember2024-06-300000924805frhc:ArbuzGroupLLPArbuzMember2024-06-300000924805frhc:ComrunLLPReKassaMember2024-06-300000924805frhc:FreedomTelecomHoldingLimitedFreedomTelecomMember2024-06-300000924805frhc:FreedomKazakhstanPCLtdMember2024-06-300000924805frhc:FreedomAdvertisingLtdMember2024-06-300000924805frhc:FreedomShapagatCorporateFundMember2024-06-300000924805frhc:FRHCFractionalSPCLTDMember2024-06-300000924805frhc:FreedomHoldingOperationsLLPMember2024-06-300000924805frhc:FreedomHorizonsLLPMember2024-06-300000924805frhc:FreedomFinanceAzerbaijanLLCMember2024-06-300000924805frhc:FreedomFinanceFZE.Member2024-06-300000924805frhc:FreedomManagementLtd.Member2024-06-300000924805frhc:FreedomFinanceTurkeyLLCMember2024-06-300000924805frhc:FreedomFinanceTechnologiesLtdMember2024-06-300000924805frhc:FreedomPrimeUKLimitedPrimeUKMember2024-06-300000924805frhc:FreedomStructuredProductsPLCMember2024-06-300000924805frhc:FFINSecuritiesInc.Member2024-06-300000924805frhc:FreedomU.S.MarketLLCMember2024-06-300000924805frhc:LDMicroLDMicroMember2024-06-300000924805frhc:SubsidiariesListedOnTheUkrainianExchangeMember2024-06-300000924805frhc:FreedomFinanceUkraineLLCMember2024-06-300000924805frhc:SingleNonRelatedPartyMember2024-04-012024-06-300000924805frhc:SingleNonRelatedPartyMember2023-04-012023-06-300000924805frhc:BrokerageSegmentMember2023-03-310000924805frhc:BankingSegmentMember2023-03-310000924805frhc:InsuranceSegmentMember2023-03-310000924805frhc:OtherSegmentMember2023-03-310000924805frhc:BrokerageSegmentMember2023-04-012023-06-300000924805frhc:BankingSegmentMember2023-04-012023-06-300000924805frhc:InsuranceSegmentMember2023-04-012023-06-300000924805frhc:OtherSegmentMember2023-04-012023-06-300000924805frhc:BrokerageSegmentMember2023-06-300000924805frhc:BankingSegmentMember2023-06-300000924805frhc:InsuranceSegmentMember2023-06-300000924805frhc:OtherSegmentMember2023-06-300000924805frhc:BrokerageSegmentMember2024-03-310000924805frhc:BankingSegmentMember2024-03-310000924805frhc:InsuranceSegmentMember2024-03-310000924805frhc:OtherSegmentMember2024-03-310000924805frhc:BrokerageSegmentMember2024-04-012024-06-300000924805frhc:BankingSegmentMember2024-04-012024-06-300000924805frhc:InsuranceSegmentMember2024-04-012024-06-300000924805frhc:OtherSegmentMember2024-04-012024-06-300000924805frhc:BrokerageSegmentMember2024-06-300000924805frhc:BankingSegmentMember2024-06-300000924805frhc:InsuranceSegmentMember2024-06-300000924805frhc:OtherSegmentMember2024-06-300000924805frhc:CurrentAccountWithNationalBankKazakhstanMember2024-06-300000924805frhc:CurrentAccountWithNationalBankKazakhstanMember2024-03-310000924805frhc:ShortTermDepositsInCommercialBanksMember2024-06-300000924805frhc:ShortTermDepositsInCommercialBanksMember2024-03-310000924805frhc:SecuritiesPurchasedUnderReverseRepurchaseAgreementsMember2024-06-300000924805frhc:SecuritiesPurchasedUnderReverseRepurchaseAgreementsMember2024-03-310000924805frhc:PettyCashInBankVaultAndOnHandMember2024-06-300000924805frhc:PettyCashInBankVaultAndOnHandMember2024-03-310000924805frhc:OvernightDepositsMember2024-06-300000924805frhc:OvernightDepositsMember2024-03-310000924805frhc:CashInTransitMember2024-06-300000924805frhc:CashInTransitMember2024-03-310000924805frhc:ShortTermDepositInStockExchangesMember2024-06-300000924805frhc:ShortTermDepositInStockExchangesMember2024-03-310000924805frhc:ShortTermDepositsOnBrokerageAccountsMember2024-06-300000924805frhc:ShortTermDepositsOnBrokerageAccountsMember2024-03-310000924805frhc:CurrentAccountWithCentralDepositoryKazakhstanMember2024-06-300000924805frhc:CurrentAccountWithCentralDepositoryKazakhstanMember2024-03-310000924805frhc:CorporateEquityMemberus-gaap:CashAndCashEquivalentsMember2024-06-300000924805frhc:CorporateDebtMemberus-gaap:CashAndCashEquivalentsMember2024-06-300000924805frhc:USSovereignDebtMemberus-gaap:CashAndCashEquivalentsMember2024-06-300000924805frhc:NonUSSovereignDebtMemberus-gaap:CashAndCashEquivalentsMember2024-06-300000924805us-gaap:CashAndCashEquivalentsMember2024-06-300000924805frhc:CorporateEquityMemberus-gaap:CashAndCashEquivalentsMember2024-03-310000924805frhc:USSovereignDebtMemberus-gaap:CashAndCashEquivalentsMember2024-03-310000924805frhc:NonUSSovereignDebtMemberus-gaap:CashAndCashEquivalentsMember2024-03-310000924805frhc:CorporateDebtMemberus-gaap:CashAndCashEquivalentsMember2024-03-310000924805us-gaap:CashAndCashEquivalentsMember2024-03-3100009248052023-04-012024-03-310000924805frhc:BrokerageCustomersCashMember2024-06-300000924805frhc:BrokerageCustomersCashMember2024-03-310000924805frhc:GuaranteeDepositsMember2024-06-300000924805frhc:GuaranteeDepositsMember2024-03-310000924805frhc:RestrictedBankAccountsMember2024-06-300000924805frhc:RestrictedBankAccountsMember2024-03-310000924805frhc:DueFromBanksMember2024-06-300000924805frhc:DueFromBanksMember2024-03-310000924805frhc:DeferredDistributionPaymentsMember2024-06-300000924805frhc:DeferredDistributionPaymentsMember2024-03-310000924805frhc:NonUSSovereignDebtMember2024-06-300000924805frhc:NonUSSovereignDebtMember2024-03-310000924805frhc:CorporateDebtMember2024-06-300000924805frhc:CorporateDebtMember2024-03-310000924805frhc:CorporateEquityMember2024-06-300000924805frhc:CorporateEquityMember2024-03-310000924805frhc:USSovereignDebtMember2024-06-300000924805frhc:USSovereignDebtMember2024-03-310000924805frhc:ExchangeTradedNotesMember2024-06-300000924805frhc:ExchangeTradedNotesMember2024-03-310000924805frhc:UpToYear1Memberfrhc:CorporateDebtMember2024-06-300000924805frhc:A15YearsMemberfrhc:CorporateDebtMember2024-06-300000924805frhc:A510YearsMemberfrhc:CorporateDebtMember2024-06-300000924805frhc:MoreThan10YearsMemberfrhc:CorporateDebtMember2024-06-300000924805frhc:UpToYear1Memberfrhc:NonUSSovereignDebtMember2024-06-300000924805frhc:A15YearsMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805frhc:A510YearsMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805frhc:MoreThan10YearsMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805frhc:UpToYear1Memberfrhc:USSovereignDebtMember2024-06-300000924805frhc:A15YearsMemberfrhc:USSovereignDebtMember2024-06-300000924805frhc:A510YearsMemberfrhc:USSovereignDebtMember2024-06-300000924805frhc:MoreThan10YearsMemberfrhc:USSovereignDebtMember2024-06-300000924805frhc:UpToYear1Member2024-06-300000924805frhc:A15YearsMember2024-06-300000924805frhc:A510YearsMember2024-06-300000924805frhc:MoreThan10YearsMember2024-06-300000924805frhc:UpToYear1Memberfrhc:CorporateDebtMember2024-03-310000924805frhc:A15YearsMemberfrhc:CorporateDebtMember2024-03-310000924805frhc:A510YearsMemberfrhc:CorporateDebtMember2024-03-310000924805frhc:MoreThan10YearsMemberfrhc:CorporateDebtMember2024-03-310000924805frhc:UpToYear1Memberfrhc:NonUSSovereignDebtMember2024-03-310000924805frhc:A15YearsMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805frhc:A510YearsMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805frhc:MoreThan10YearsMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805frhc:UpToYear1Memberfrhc:USSovereignDebtMember2024-03-310000924805frhc:A15YearsMemberfrhc:USSovereignDebtMember2024-03-310000924805frhc:A510YearsMemberfrhc:USSovereignDebtMember2024-03-310000924805frhc:MoreThan10YearsMemberfrhc:USSovereignDebtMember2024-03-310000924805frhc:UpToYear1Member2024-03-310000924805frhc:A15YearsMember2024-03-310000924805frhc:A510YearsMember2024-03-310000924805frhc:MoreThan10YearsMember2024-03-310000924805frhc:MinistryOfFinanceOfTheRepublicOfKazakhstanMember2024-04-012024-06-300000924805frhc:KazakhstanSustainabilityFundJSCMember2024-04-012024-06-300000924805frhc:MinistryOfFinanceOfTheRepublicOfKazakhstanMember2024-06-300000924805frhc:KazakhstanSustainabilityFundJSCMember2024-06-300000924805frhc:MinistryOfFinanceOfTheRepublicOfKazakhstanMember2023-04-012024-03-310000924805frhc:KazakhstanSustainabilityFundJSCMember2023-04-012024-03-310000924805frhc:MinistryOfFinanceOfTheRepublicOfKazakhstanMember2024-03-310000924805frhc:KazakhstanSustainabilityFundJSCMember2024-03-310000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-06-300000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-06-300000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-06-300000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-06-300000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-06-300000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-06-300000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-06-300000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-06-300000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-06-300000924805us-gaap:FairValueMeasurementsRecurringMember2024-06-300000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:NonUSSovereignDebtMember2024-03-310000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateDebtMember2024-03-310000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-03-310000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-03-310000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:CorporateEquityMember2024-03-310000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:USSovereignDebtMember2024-03-310000924805us-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-03-310000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-03-310000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberfrhc:ExchangeTradedNotesMember2024-03-310000924805us-gaap:FairValueMeasurementsRecurringMember2024-03-310000924805us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000924805us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateDebt3MonthsMember2024-06-300000924805us-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateDebt3MonthsMember2024-06-300000924805us-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateDebt3MonthsMember2024-04-012024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-06-300000924805us-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-06-300000924805us-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-04-012024-06-300000924805frhc:MeasurementInputTerminationMultiplierMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity9YearsMember2024-06-300000924805us-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity9YearsMember2024-06-300000924805us-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity9YearsMember2024-04-012024-06-300000924805us-gaap:FairValueInputsLevel3Member2024-06-300000924805us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateDebt3MonthsMember2024-03-310000924805us-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateDebt3MonthsMember2024-03-310000924805us-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateDebt3MonthsMember2023-04-012024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-03-310000924805us-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-03-310000924805us-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2023-04-012024-03-310000924805frhc:MeasurementInputTerminationMultiplierMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity45YearsMember2024-03-310000924805us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity9YearsMember2024-03-310000924805us-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity9YearsMember2024-03-310000924805us-gaap:ValuationTechniqueDiscountedCashFlowMemberfrhc:CorporateEquity9YearsMember2023-04-012024-03-310000924805us-gaap:FairValueInputsLevel3Member2024-03-310000924805us-gaap:InvestmentsMember2023-03-310000924805us-gaap:InvestmentsMember2023-04-012024-03-310000924805us-gaap:InvestmentsMember2024-03-310000924805us-gaap:InvestmentsMember2024-04-012024-06-300000924805us-gaap:InvestmentsMember2024-06-300000924805frhc:USSovereignsDebtMember2024-06-300000924805frhc:USSovereignsDebtMember2024-03-310000924805frhc:MarginLendingReceivablesMember2024-06-300000924805frhc:MarginLendingReceivablesMember2024-03-310000924805frhc:ReceivablesFromPaymentProcessingServicesMember2024-06-300000924805frhc:ReceivablesFromPaymentProcessingServicesMember2024-03-310000924805frhc:BankCommissionsReceivableMember2024-06-300000924805frhc:BankCommissionsReceivableMember2024-03-310000924805frhc:BondCouponReceivableAndDividendsAccruedMember2024-06-300000924805frhc:BondCouponReceivableAndDividendsAccruedMember2024-03-310000924805frhc:ReceivablesFromBrokerageClientsMember2024-06-300000924805frhc:ReceivablesFromBrokerageClientsMember2024-03-310000924805frhc:OtherReceivablesMember2024-06-300000924805frhc:OtherReceivablesMember2024-03-310000924805frhc:OneMember2024-06-300000924805frhc:OneMember2024-03-310000924805frhc:OneMemberfrhc:MarginLendingReceivablesMember2024-06-300000924805frhc:OneMemberfrhc:MarginLendingReceivablesMember2024-03-310000924805frhc:MortgageLoanMember2024-06-300000924805frhc:CarLoansMember2024-06-300000924805frhc:UncollateralizedBankCustomerLoansMember2024-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMember2024-06-300000924805frhc:CollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:SubordinatedDebtMember2024-06-300000924805frhc:OtherLoansMember2024-06-300000924805frhc:OtherLoansKZTMember2024-06-300000924805frhc:OtherLoansUSDMember2024-06-300000924805frhc:OtherLoansEURMember2024-06-300000924805frhc:StateMortgageProgram72025Memberfrhc:MortgageLoanMember2024-06-300000924805frhc:StateMortgageProgram72025Memberfrhc:MortgageLoanMember2024-03-310000924805frhc:RightOfClaimForPurchasedRetailLoansMember2024-03-310000924805frhc:MortgageLoanMember2024-03-310000924805frhc:CarLoansMember2024-03-310000924805frhc:UncollateralizedBankCustomerLoansMember2024-03-310000924805frhc:CollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:SubordinatedDebtMember2024-03-310000924805frhc:OtherLoansMember2024-03-310000924805frhc:OtherLoansKZTMember2024-03-310000924805frhc:OtherLoansUSDMember2024-03-310000924805frhc:OtherLoansEURMember2024-03-310000924805frhc:MortgageLoanMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805frhc:MortgageLoanMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805frhc:MortgageLoanMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805frhc:CarLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805frhc:CarLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805frhc:CarLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805frhc:UncollateralizedBankCustomerLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805frhc:UncollateralizedBankCustomerLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805frhc:UncollateralizedBankCustomerLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805frhc:CollateralizedBankCustomerLoanMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805frhc:CollateralizedBankCustomerLoanMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805frhc:CollateralizedBankCustomerLoanMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805us-gaap:SubordinatedDebtMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805us-gaap:SubordinatedDebtMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805us-gaap:SubordinatedDebtMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805frhc:OtherLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-06-300000924805frhc:OtherLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-06-300000924805frhc:OtherLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-06-300000924805frhc:MortgageLoanMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805frhc:MortgageLoanMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805frhc:MortgageLoanMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805frhc:CarLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805frhc:CarLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805frhc:CarLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805frhc:UncollateralizedBankCustomerLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805frhc:UncollateralizedBankCustomerLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805frhc:UncollateralizedBankCustomerLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805frhc:RightOfClaimForPurchasedRetailLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805frhc:RightOfClaimForPurchasedRetailLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805frhc:RightOfClaimForPurchasedRetailLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805frhc:CollateralizedBankCustomerLoanMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805frhc:CollateralizedBankCustomerLoanMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805frhc:CollateralizedBankCustomerLoanMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805us-gaap:SubordinatedDebtMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805us-gaap:SubordinatedDebtMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805us-gaap:SubordinatedDebtMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805frhc:OtherLoansMemberfrhc:FinancingReceivableThatAreNotCreditImpairedMember2024-03-310000924805frhc:OtherLoansMemberfrhc:FinancingReceivableWithSignificantIncreaseInCreditRiskMember2024-03-310000924805frhc:OtherLoansMemberfrhc:FinancingReceivableThatAreCreditImpairedMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:MortgageLoanMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:MortgageLoanMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:MortgageLoanMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:MortgageLoanMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:CarLoansMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:CarLoansMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:CarLoansMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:CarLoansMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-06-300000924805frhc:UncollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:SubordinatedDebtMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:SubordinatedDebtMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:SubordinatedDebtMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberus-gaap:SubordinatedDebtMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:OtherLoansMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:OtherLoansMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:OtherLoansMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:OtherLoansMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000924805us-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000924805us-gaap:FinancialAssetNotPastDueMember2024-06-300000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:MortgageLoanMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:MortgageLoanMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:MortgageLoanMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:MortgageLoanMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:CarLoansMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:CarLoansMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:CarLoansMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:CarLoansMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:UncollateralizedBankCustomerLoanMember2024-03-310000924805frhc:UncollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:RightOfClaimForPurchasedRetailLoansMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:CollateralizedBankCustomerLoanMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:SubordinatedDebtMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:SubordinatedDebtMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:SubordinatedDebtMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberus-gaap:SubordinatedDebtMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMemberfrhc:OtherLoansMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMemberfrhc:OtherLoansMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrhc:OtherLoansMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMemberfrhc:OtherLoansMember2024-03-310000924805us-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000924805us-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310000924805us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000924805us-gaap:FinancialAssetNotPastDueMember2024-03-310000924805frhc:MortgageLoanMember2024-04-012024-06-300000924805frhc:UncollateralizedBankCustomerLoanMember2024-04-012024-06-300000924805frhc:CollateralizedBankCustomerLoanMember2024-04-012024-06-300000924805frhc:CarLoansMember2024-04-012024-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMember2024-04-012024-06-300000924805frhc:OtherLoansMember2024-04-012024-06-300000924805frhc:MortgageLoanMember2023-03-310000924805frhc:UncollateralizedBankCustomerLoanMember2023-03-310000924805frhc:CollateralizedBankCustomerLoanMember2023-03-310000924805frhc:CarLoansMember2023-03-310000924805frhc:RightOfClaimForPurchasedRetailLoansMember2023-03-310000924805frhc:OtherLoansMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Memberfrhc:MortgageLoanMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Memberfrhc:UncollateralizedBankCustomerLoanMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Memberfrhc:CollateralizedBankCustomerLoanMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Memberfrhc:CarLoansMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Memberfrhc:RightOfClaimForPurchasedRetailLoansMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Memberfrhc:OtherLoansMember2023-03-310000924805us-gaap:AccountingStandardsUpdate201613Member2023-03-310000924805frhc:MortgageLoanMember2023-04-012023-06-300000924805frhc:UncollateralizedBankCustomerLoanMember2023-04-012023-06-300000924805frhc:CollateralizedBankCustomerLoanMember2023-04-012023-06-300000924805frhc:CarLoansMember2023-04-012023-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMember2023-04-012023-06-300000924805frhc:OtherLoansMember2023-04-012023-06-300000924805frhc:MortgageLoanMember2023-06-300000924805frhc:UncollateralizedBankCustomerLoanMember2023-06-300000924805frhc:CollateralizedBankCustomerLoanMember2023-06-300000924805frhc:CarLoansMember2023-06-300000924805frhc:RightOfClaimForPurchasedRetailLoansMember2023-06-300000924805frhc:OtherLoansMember2023-06-300000924805country:US2024-06-300000924805country:US2024-03-310000924805country:KZ2024-06-300000924805country:AZ2024-06-300000924805country:KZ2024-03-310000924805country:AZ2024-03-310000924805country:KG2024-03-310000924805country:KG2024-06-300000924805country:DE2024-03-310000924805country:DE2024-06-300000924805country:CY2024-03-310000924805country:CY2024-06-300000924805country:GB2024-03-310000924805country:GB2024-06-300000924805country:AM2024-06-300000924805country:AM2024-03-310000924805country:UZ2024-03-310000924805country:UZ2024-06-300000924805frhc:NonUSSovereignDebtMember2024-06-300000924805frhc:NonUSSovereignDebtMemberus-gaap:MaturityUpTo30DaysMember2024-06-300000924805frhc:NonUSSovereignDebtMemberus-gaap:Maturity30To90DaysMember2024-06-300000924805frhc:CorporateDebtMember2024-06-300000924805frhc:CorporateDebtMemberus-gaap:MaturityUpTo30DaysMember2024-06-300000924805frhc:CorporateDebtMemberus-gaap:Maturity30To90DaysMember2024-06-300000924805frhc:USSovereignDebtMember2024-06-300000924805frhc:USSovereignDebtMemberus-gaap:MaturityUpTo30DaysMember2024-06-300000924805frhc:USSovereignDebtMemberus-gaap:Maturity30To90DaysMember2024-06-300000924805us-gaap:MaturityUpTo30DaysMember2024-06-300000924805us-gaap:Maturity30To90DaysMember2024-06-300000924805frhc:NonUSSovereignDebtMember2024-03-310000924805frhc:NonUSSovereignDebtMemberus-gaap:MaturityUpTo30DaysMember2024-03-310000924805frhc:NonUSSovereignDebtMemberus-gaap:Maturity30To90DaysMember2024-03-310000924805frhc:CorporateDebtMember2024-03-310000924805frhc:CorporateDebtMemberus-gaap:MaturityUpTo30DaysMember2024-03-310000924805frhc:CorporateDebtMemberus-gaap:Maturity30To90DaysMember2024-03-310000924805frhc:USSovereignDebtMember2024-03-310000924805frhc:USSovereignDebtMemberus-gaap:MaturityUpTo30DaysMember2024-03-310000924805frhc:USSovereignDebtMemberus-gaap:Maturity30To90DaysMember2024-03-310000924805us-gaap:MaturityUpTo30DaysMember2024-03-310000924805us-gaap:Maturity30To90DaysMember2024-03-310000924805frhc:TermDepositsMember2024-06-300000924805frhc:TermDepositsMembersrt:MinimumMember2024-04-012024-06-300000924805frhc:TermDepositsMembersrt:MaximumMember2024-04-012024-06-300000924805frhc:TermDepositsMember2024-03-310000924805frhc:TermDepositsMembersrt:MinimumMember2023-04-012024-03-310000924805frhc:TermDepositsMembersrt:MaximumMember2023-04-012024-03-310000924805frhc:BrokerageCustomerMember2024-06-300000924805frhc:BrokerageCustomerMember2024-03-310000924805frhc:CurrentCustomerAccountsMember2024-06-300000924805frhc:CurrentCustomerAccountsMember2024-03-310000924805frhc:JSCKazakhstanDepositInsuranceFundMember2024-06-300000924805frhc:JSCKazakhstanDepositInsuranceFundMember2024-03-310000924805frhc:MarginLendingPayableMember2024-06-300000924805frhc:MarginLendingPayableMember2024-03-310000924805frhc:PayablesToMerchantsMember2024-06-300000924805frhc:PayablesToMerchantsMember2024-03-310000924805frhc:PayablesToSuppliersOfGoodsAndServicesMember2024-06-300000924805frhc:PayablesToSuppliersOfGoodsAndServicesMember2024-03-310000924805frhc:TradePayableForSecuritiesPurchasedMember2024-06-300000924805frhc:TradePayableForSecuritiesPurchasedMember2024-03-310000924805us-gaap:OtherCurrentLiabilitiesMember2024-06-300000924805us-gaap:OtherCurrentLiabilitiesMember2024-03-310000924805frhc:FreedomSPCBondsDue2028Member2024-06-300000924805frhc:FreedomSPCBondsDue2028Member2024-03-310000924805frhc:FreedomSPCBondsDue2028Membersrt:MinimumMember2024-04-012024-06-300000924805frhc:FreedomSPCBondsDue2028Membersrt:MaximumMember2024-04-012024-06-300000924805frhc:FreedomSPCBondsDue2028Memberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MinimumMember2024-04-012024-06-300000924805frhc:FreedomSPCBondsDue2028Memberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MaximumMember2024-04-012024-06-300000924805frhc:FreedomSPCBondsDue2028Member2024-04-012024-06-300000924805frhc:FreedomSPCBondsDue2026Member2024-06-300000924805frhc:FreedomSPCBondsDue2026Member2024-03-310000924805frhc:AccruedInterestMember2024-06-300000924805frhc:AccruedInterestMember2024-03-310000924805frhc:AmountsDueFromPolicyholdersMember2024-06-300000924805frhc:AmountsDueFromPolicyholdersMember2024-03-310000924805frhc:AmountsDueFromReinsuredMember2024-06-300000924805frhc:AmountsDueFromReinsuredMember2024-03-310000924805frhc:AdvancesReceivedFromAgentMember2024-06-300000924805frhc:AdvancesReceivedFromAgentMember2024-03-310000924805frhc:ClaimsReceivableFromReinsuranceMember2024-06-300000924805frhc:ClaimsReceivableFromReinsuranceMember2024-03-310000924805frhc:AmountsPayableToAgentsAndBrokersMember2024-06-300000924805frhc:AmountsPayableToAgentsAndBrokersMember2024-03-310000924805frhc:AmountsPayableToInsurersMember2024-06-300000924805frhc:AmountsPayableToInsurersMember2024-03-310000924805frhc:AmountsPayableToReinsuredMember2024-06-300000924805frhc:AmountsPayableToReinsuredMember2024-03-310000924805us-gaap:MajorityOwnedSubsidiaryUnconsolidatedMember2024-06-300000924805us-gaap:MajorityOwnedSubsidiaryUnconsolidatedMember2024-03-310000924805srt:ManagementMember2024-06-300000924805srt:ManagementMember2024-03-310000924805us-gaap:OtherAffiliatesMember2024-06-300000924805us-gaap:OtherAffiliatesMember2024-03-310000924805srt:ManagementMember2024-04-012024-06-300000924805srt:ManagementMember2023-04-012023-06-300000924805us-gaap:MajorityOwnedSubsidiaryUnconsolidatedMember2024-04-012024-06-300000924805us-gaap:MajorityOwnedSubsidiaryUnconsolidatedMember2023-04-012023-06-300000924805us-gaap:OtherAffiliatesMember2024-04-012024-06-300000924805us-gaap:OtherAffiliatesMember2023-04-012023-06-300000924805us-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-04-012024-06-300000924805us-gaap:ShareBasedCompensationAwardTrancheOneMember2022-10-062022-10-060000924805us-gaap:ShareBasedCompensationAwardTrancheOneMember2021-05-012021-05-180000924805us-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-03-012024-03-010000924805us-gaap:ShareBasedCompensationAwardTrancheOneMember2024-03-012024-03-010000924805us-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-04-012024-04-010000924805us-gaap:ShareBasedCompensationAwardTrancheOneMember2024-04-012024-04-010000924805us-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-04-232024-04-230000924805us-gaap:ShareBasedCompensationAwardTrancheOneMember2024-04-232024-04-230000924805us-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-06-072024-06-070000924805us-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-06-242024-06-240000924805us-gaap:ShareBasedCompensationAwardTrancheOneMember2024-06-242024-06-240000924805frhc:MonteCarloMemberfrhc:April12024Member2024-04-012024-06-300000924805frhc:MonteCarloMemberfrhc:April232024Member2024-04-012024-06-300000924805frhc:MonteCarloMemberfrhc:June242024Member2024-04-012024-06-300000924805frhc:SettlementOfEstateOfShareholderMember2022-10-212022-10-210000924805country:KZ2024-04-012024-06-300000924805frhc:FreedomFinanceJSCFreedomKZMember2024-06-300000924805frhc:BankFreedomFinanceKazakhstanJSCFreedomBankKZMember2024-06-300000924805frhc:FreedomFinanceLifeJSCFreedomLifeMember2024-06-300000924805frhc:FreedomFinanceEuropeLimitedFreedomEUMember2024-06-300000924805frhc:FreedomFinanceInsuranceJSCFreedomInsuranceMember2024-06-300000924805frhc:FreedomFinanceGlobalPLCFreedomGlobalMember2024-06-300000924805frhc:FreedomFinanceArmeniaLLCFreedomARMember2024-06-300000924805frhc:OtherRegulatedOperatingSubsidiariesMember2024-06-300000924805frhc:FreedomFinanceJSCFreedomKZMember2024-03-310000924805frhc:BankFreedomFinanceKazakhstanJSCFreedomBankKZMember2024-03-310000924805frhc:FreedomFinanceLifeJSCFreedomLifeMember2024-03-310000924805frhc:FreedomFinanceEuropeLimitedFreedomEUMember2024-03-310000924805frhc:FreedomFinanceInsuranceJSCFreedomInsuranceMember2024-03-310000924805frhc:FreedomFinanceGlobalPLCFreedomGlobalMember2024-03-310000924805frhc:FreedomFinanceArmeniaLLCFreedomARMember2024-03-310000924805frhc:OtherRegulatedOperatingSubsidiariesMember2024-03-31

Commission File Number 001-33034

(Registrant's telephone number, including area code)

Securities registered under Section 12(b) of the Act:

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes x   No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x  No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)

Yes ☐  No x

As of August 6, 2024, the registrant had 60,745,658 shares of common stock, par value $0.001, issued and outstanding.

The accompanying notes are an integral part of these condensed consolidated financial statements

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows:

Freedom Holding Corp. (the "Company" or "FRHC" and, together with its subsidiaries, the "Group") is a corporation organized in the United States under the laws of the State of Nevada that through its operating subsidiaries provides securities brokerage, securities dealing for customers and for our own account, market making activities, investment research, investment counseling, investment banking services, retail and commercial banking, insurance products, payment services, and information processing services. The Company also owns several ancillary businesses which complement its core financial services businesses, including telecommunications and media businesses in Kazakhstan that are in a developmental stage. The Company is the holding company of subsidiaries incorporated in Kazakhstan, Cyprus, the United States, the United Kingdom, Armenia, the United Arab Emirates, Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, and Turkey, and also has a presence in Austria, Belgium, Bulgaria, France, Germany, Greece, Italy, Lithuania, The Netherlands, Poland and Spain. The Company's subsidiaries in the United States include a broker-dealer that is registered with the United States Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA"). The Company's common stock trades on the Nasdaq Capital Market, the Kazakhstan Stock Exchange ("KASE"), and the Astana International Exchange ("AIX").

As of June 30, 2024, the Company owned, directly or indirectly, the following companies:

Through its subsidiaries, the Company is a professional participant, with a license to provide one or more types of services, on a number of stock exchanges, including the Kazakhstan Stock Exchange (KASE), the Astana International Exchange (AIX), the Republican Stock Exchange of Tashkent (UZSE) and the Uzbek Republican Currency Exchange (UZCE) and is a member of the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange (Nasdaq). The Company also owns a 24.3% interest in the Ukrainian Exchange (UX).

Freedom EU provides the Company's clients with operational support and access to investment opportunities in the United States and European securities markets.

The Group's accounting policies and accompanying consolidated financial statements conform to accounting principles generally accepted in the United States of America (U.S. GAAP).

The consolidated financial statements present the consolidated accounts of FRHC and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated from the consolidated financial statements.

These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements, and related notes thereto, of the Group’s 2024 Annual Report on Form 10-K. Note 2 to the consolidated financial statements in Group’s 2024 Annual Report on Form 10-K contains a summary of all of Group’s significant accounting policies, except following amendments:

Freedom Securities Trading Inc. (formerly known as FFIN Brokerage Services, Inc.) ("FST Belize") is solely owned by Mr. Turlov since July 2014. The Company does not consolidate FST Belize under any of the primary consolidation methods - variable interest entity (“VIE”) accounting method and the voting interest method ("VOE") as (i) FST Belize is not a VIE due to the fact it has sufficient equity at risk to finance its activities without additional financial support and the control over its significant activities is held by its sole shareholder, Mr. Turlov, and (ii) Mr. Turlov has a controlling interest in FST Belize such that under the VOE model FRHC is not required to consolidate FST Belize. Except for Mr. Turlov, there are no other shareholders at FST Belize or parties with participating rights or the ability to remove Mr. Turlov from his ownership position or to make all decisions in respect of FST Belize. While prior to the end of the fiscal 2024 we had omnibus brokerage relationship with FST Belize, such relationship had been terminated as of March 31, 2024.

As at June 30, 2024, the Company owns a 9% interest in Freedom Finance Ukraine LLC ("Freedom UA"), a Kyiv, Ukraine-based broker-dealer. The remaining 91% interest in Freedom UA is controlled by Askar Tashtitov, the Company's president. The Company entered into a series of contractual arrangements with Freedom UA and Mr. Tashtitov, including a consulting services agreement, an operating agreement and an option agreement. Through March 31, 2023, the Company had consolidated Freedom UA into the financial statements of the Company. On October 19, 2022, Freedom UA was added to the Ukrainian government's sanctioned entities list, resulting in suspension of its brokerage license. Given the ongoing uncertainty surrounding the situation in Ukraine and based on the Company's management's belief that the Company does not maintain effective control over Freedom UA, the Company has accounted for the deconsolidation of Freedom UA since April 1, 2023 (the date of loss of control).

Revenues from one customer of the Group’s Brokerage segment represents the following amount of the Group’s consolidated revenues:

Goodwill is allocated to reporting units, which are identified as the operating segments or one level below operating segments that generate separate financial information regularly reviewed by management. The assignment of goodwill to reporting units allows for the assessment of potential impairment at the appropriate level within the organization.

The Group has identified its reporting units based on its organizational and operational structure, as well as the level at which internal financial information is reviewed by management to make strategic decisions. In line with this, the reporting units have been established as follows:

Brokerage Reporting Unit: This reporting unit represents the Group's operations in brokerage business. The management team responsible for the brokerage business regularly reviews financial information specific to this reporting unit, including revenue, expenses, and key performance indicators.

Bank Reporting Unit: This reporting unit comprises the Group's operations in bank business. The management team responsible for the bank business reviews financial information related to this reporting unit, including revenue, expenses, and market trends.

Insurance Reporting Unit: This reporting unit comprises the Group's operations in insurance business. The management team responsible for the insurance business reviews financial information related to this reporting unit, including revenue, expenses, and market trends.

Other Reporting Unit: This reporting unit represents the Group's various businesses operations. The management team responsible for the Group's various businesses reviews financial information related to this reporting unit, including revenue, expenses, and market trends.

Goodwill has been allocated to each reporting unit based on its relative fair value at the time of acquisition or significant triggering events. The fair value allocation of goodwill to reporting units is periodically reassessed to ensure alignment with the Group's evolving organizational structure and operational dynamics.

The Group conducts impairment testing on an annual basis or whenever indicators of potential impairment arise. The impairment testing involves comparing the carrying amount of each subsidiary, including its allocated goodwill, to its fair value. If the carrying amount exceeds the fair value, an impairment loss is recognized.

Further details regarding the measurement of goodwill impairment and the results of impairment tests for each reporting unit are provided below.

The Group discloses information about the reporting units, the carrying amounts of goodwill allocated to each reporting unit, and the impairment losses recognized. The allocation of goodwill to reporting units ensures a focused evaluation of each unit's financial performance and facilitates the identification of potential impairment, enhancing the transparency and reliability of the Company's financial reporting.

As of June 30, 2024 and March 31, 2024, goodwill recorded in the Company's Condensed Consolidated Balance Sheets totaled $50,591 and $52,648 respectively. The Group performs an impairment review at least annually unless indicators of impairment exist in interim periods. The entity compares the fair value of a reporting unit with its carrying amount. The goodwill impairment charge is recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. If fair value exceeds the carrying amount, no impairment is recorded.

The goodwill value at June 30, 2024 decreased compared to March 31, 2024, as a result of foreign exchange currency translation.

The changes in the carrying amount of goodwill for three months ended June 30, 2024 and 2023, were as follows: