Company: FRHC
Filing Date: 2025-06-13
Form Type: 10-K
Source: 0000924805-25-000012
Chunk: 186

Company: Freedom Holding Corp.
Filing Date: 2025-06-13
Form: 10-K
Item: Item 7
Chunk 186
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 for the exclusive benefit of our brokerage customers.

(3)Consists of cash and cash equivalents, trading securities, and margin lending, brokerage and other receivables, net of securities repurchase agreement obligations. Includes liquid assets held after deducting securities repurchase agreement obligations. 

As at March 31, 2025 and 2024, we had total liabilities of $8.7 billion and $7.1 billion, respectively, including customer liabilities of $4.3 billion and $2.3 billion, respectively.

We finance our assets primarily from revenue-generating activities and short-term and long-term financing arrangements.

80

Cash Flows

The following table presents information from our statement of cash flows for the periods indicated. Our cash and cash equivalents include restricted cash, which principally consists of cash of our brokerage customers which are segregated in special custody accounts for the exclusive benefit of our brokerage customers.

Year ended March 31,20252024 Net cash from/(used in) operating activities$1,681,058 $(1,064,362)Net cash used in investing activities(905,472)(638,222)Net cash (used in)/from financing activities(1,578)1,674,572 Effect of changes in foreign exchange rates on cash and cash equivalents and restricted cash (137,038)12,194 Effect of expected credit losses on cash and cash equivalents and restricted cash79 (3,406)NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH$637,049 $(19,224)

Net Cash From Operating Activities

Net cash used in operating activities during fiscal 2025 was comprised of net cash from operating activities and net income adjusted for non-cash movements (changes in deferred taxes, unrealized gain on trading securities, net change in accrued interest, change in insurance reserves, and allowance for credit losses). Net cash used in operating activities resulted primarily from changes in operating assets and liabilities. Such changes included those set out in the following table.

Year ended March 31,20252024Decreases/(Increases) in trading securities (1)$827,157 $(1,048,205)Increases in brokerage customer liabilities (2)$1,516,767 $112,258 Increases in margin lending, brokerage and other receivables (3)$(1,743,595)$(1,272,652)Increases in margin lending and trade payables (4)$474,087 $734,605