Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 252

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 252
---
 statements of the entity.Receivables and Contract Balances Receivables arise when the Group has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. Margin lending, brokerage and other receivables are disclosed in Note 6 "Margin Lending, Brokerage and Other Receivables, Net" in the notes to consolidated financial statements.Contract assets arise when the revenue associated with the contract is recognized before the Group's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable or the cash is received. As of September 30, 2025 and March 31, 2025 contract asset balances were not material.Contract liabilities arise when customers remit contractual cash payments in advance of the Group satisfying its performance obligations under the contract and are derecognized when the revenue associated with the contract is recognized either when a milestone is met triggering the contractual right to bill the customer or when the performance obligation is satisfied. As of September 30, 2025 and March 31, 2025 contract liability balances were not material.During the three months ended September 30, 2025 and September 30, 2024 fee and commission income was comprised of:

43

Table of ContentsNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

Three months ended September 30, 2025BrokerageBankingInsuranceOtherTotalBrokerage services$137,646 $— $— $— $137,646 Agency fee income— — — 6,365 6,365 Commission income from payment processing— — — 5,008 5,008 Underwriting and market-making services1,527 — — — 1,527 Bank services— (18,929)— — (18,929)Other fee and commission income52 390 — 179 621 Total fee and commission income$139,225 $(18,539)$— $11,552 $132,238 Agency fee expense— 73 41,203 — 41,276 Brokerage services10,566 11 — 6 10,583 Bank services1,672 7,024 119