Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 259

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 259
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4Three months ended December 31, 2023Change(amounts in thousands)Amount%*AmountAmount%Fee and commission expense$93,927 17 %$42,818 14 %$51,109 119 %Interest expense131,136 24 %131,223 43 %(87)— %Insurance claims incurred, net of reinsurance104,511 19 %40,989 13 %63,522 155 %Payroll and bonuses77,395 14 %45,083 15 %32,312 72 %Professional services10,955 2 %6,217 2 %4,738 76 %Stock compensation expense13,417 2 %1,039 — %12,378 1191 %Advertising expense21,472 4 %11,066 4 %10,406 94 %General and administrative expense73,437 13 %32,106 10 %41,331 129 %Provision for/(recovery of) allowance for expected credit losses30,612 5 %(3,526)(1)%34,138 (968)%Total expense$556,862 100 %$307,015 100 %$249,847 81 %              ______________

*    Percentage of total expense.

Fee and commission expense 

The following table sets forth information regarding our fee and commission expense for the periods presented.Three months ended December 31,(amounts in thousands)20242023Amount Change%ChangeAgency fees expense$74,684 $29,956 $44,728 149 %Brokerage services9,432 4,4984,934 110 %Banking services5,409 5,513(104)(2)%Exchange services351 762(411)(54)%Central depository services152 12626 21 %Other commission expenses 3,899 1,9631,936 99 %Total fee and commission expense$93,927 $42,818 $51,109 119 %

The following table sets out the components of our fee and commission expense as a percentage of total fee and commission expense, net for the periods presented.

Three months ended December 31,20242023(as a % of total fee and commission expense)Agency fees expense80 %70 %Brokerage services10