Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 325

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 325
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 of our brokerage customers which are segregated in a special custody

accounts 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. It includes liquid assets possessed after deducting securities repurchase agreement obligations.

As of September 30, 2025, and March 31, 2025, we had total liabilities of $9.1 billion and $8.7 billion, respectively, including customer liabilities of $5.8 billion and $4.3 billion, respectively. 

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

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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 a special custody accounts for the exclusive benefit of our brokerage customers.

Six Months EndedSeptember 30, 2025Six Months EndedSeptember 30, 2024(amounts in thousands)Net cash flows from operating activities$1,016,112 $416,072 Net cash flows used in investing activities(684,552)(223,437)Net cash flows from financing activities219,739 370,315 Effect of changes in foreign exchange rates on cash and cash equivalents(247,006)(106,027)Effect of expected credit losses on cash and cash equivalents and restricted cash(859)186 NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH$303,434 $457,109 

Net Cash Flows From Operating Activities

Net cash flow from operating activities during the six months ended September 30, 2025, was comprised of net change in operating assets and liabilities 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 receivables). Net cash from operating activities resulted primarily from changes in operating assets and liabilities. Such changes included those set out in the following table.

Six Months EndedSeptember 30, 2025Six Months EndedSeptember 30, 2024(amounts in thousands)Decrease/increases in trading securities (1)$383,638 $(187,941)Increases in brokerage customer liabilities (2)$1,406,494