Freedom Holding Corp 2025年季度报告

FORM 10-Q xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2024 OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission File Number001-33034 FREEDOM HOLDING CORP. (Exact name of registrant as specified in its charter) Nevada 30-0233726 (State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) 40 Wall Street, 58th FloorNew York, NY 10005 (Zip Code) (Address of principal executive offices) (212) 980 4400(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 or15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days. Yes xNo o Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yesx 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. Large accelerated filerxAccelerated fileroNon-accelerated fileroSmaller reporting companyoEmerging growth companyo If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards providedpursuant 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 theExchange Act.)Yes☐No x As of February 4, 2025, the registrant had 60,620,217 shares of common stock, par value $0.001, issuedand outstanding. FREEDOM HOLDING CORP.FORM 10-QTABLE OF CONTENTS PagePART I — FINANCIAL INFORMATION Item 1.Unaudited Condensed Consolidated Financial Statements3 Condensed Consolidated Balance Sheets as of December 31, 2024, andMarch 31, 20243 Condensed Consolidated Statements of Operations and Statements ofOther Comprehensive Income for the Three and Nine Months EndedDecember 31, 2024and 20234 Condensed Consolidated Statements of Cash Flows for the Nine MonthsEnded December 31, 2024and 20236 Condensed Consolidated Statements of Shareholders’ Equity for theThree and Nine Months Ended December 31, 2024and 20239 Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations60 Item 3.Qualitative and Quantitative Disclosures About Market Risk93Item 4.Controls and Procedures97PART II — OTHER INFORMATION98Item 1.Legal Proceedings98Item 1A.Risk Factors98Item 5.Other Information98Item 6.Exhibits98Signatures99 Table of contents FREEDOM HOLDING CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(All amounts in thousands of United States dollars, unless otherwise stated) Table of contents Revenue: The accompanying notes are an integral part of these condensed consolidated financial statements. Table of contents FREEDOM HOLDING CORP CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(All amounts in thousands of United States dollars, unless otherwise stated) FREEDOM HOLDING CORP CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(All amounts in thousands of United States dollars, unless otherwise stated) FREEDOM HOLDING CORP CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(All amounts in thousands of United States dollars, unless otherwise stated) The following table provides a reconciliation of cash and cash equivalents and restricted cash reportedwithin the Condensed Consolidated Balance Sheets that sum to the total of the same such amountsshown in the Condensed Consolidated Statements of Cash Flows: The accompanying notes are an integral part of these condensed consolidated financial statements.8 FREEDOM HOLDING CORP. FREEDOM HOLDING CORP. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated) NOTE 1 – DESCRIPTION OF BUSINESS Overview Freedom Holding Corp. (the "Company" or "FRHC" and, together with its subsidiaries, the "Group") is acorporation organized in the United States under the laws of the State of Nevada that through itsoperating subsidiaries provides securities brokerage, securities dealing for