Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 155

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 155
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521 $ 374,952 $ 193,162 Adjustments to reconcile net income used in operating activities: Depreciation and amortization 17,158 14,603 5,138 Amortization of deferred acquisition costs 209,689 49,635 8,450 Noncash lease expense 14,468 9,980 5,113 Change in deferred taxes (19,705) 800 (811) Stock compensation expense 59,592 22,719 9,293 Unrealized loss/(gain) on trading securities 123,665 (95,729) (107,310) Unrealized (gain)/loss on derivatives (7,415) 3,009 (12) Net realized loss/(gain) on available-for-sale securities 681 (3,209) (2,934) Gain from sale of ITS Tech (4,201) — — Revaluation of investments in associates (1,139) — — Net change in accrued interest 97,286 (69,289) (56,478) Change in insurance reserves 219,818 98,787 50,671 Revaluation of purchase price previously held interest in Arbuz — (1,040) — Change in unused vacation reserve 2,577 5,860 2,271 Allowances for expected credit losses 62,445 21,225 29,119 Changes in operating assets and liabilities: Trading securities 827,157 (1,048,205) (1,019,191) Margin lending, brokerage and other receivables (including $19,269, $(272,946), and $187,336 changes from related parties) (1,743,595) (1,272,652) (253,301) Insurance contract assets (15,319) (5,930) 3,217 Other assets (268,589) (74,497) (20,752) Securities sold, not yet purchased – at fair value — — (13,865) Brokerage customer liabilities (including $4,034, $(86,083), and $(195,694) changes from related parties) 1,516,767 112,258 105,942 Current income tax liability (4,090) 28,432 (10,019) Margin lending and trade payables (including $800, $(2,732), and $(35,650) changes from related parties) 474,087 734,605 163,763 Lease liabilities