Kazakhstan was Freedom Holding’s largest region in fiscal 2026, bringing in $1.84B of $2.19B (84%).
| Geography | FY 2020 | FY 2021 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|---|
| Kazakhstan | $568.29M | $1.47B | $1.70B | $1.84B | ||
| Europe, Excluding Eastern Europe | — | — | — | — | ||
| Central Asia & Eastern Europe | — | — | — | — | ||
| Cyprus | $215.25M | $118.33M | $69.49M | $154.16M | ||
| Armenia | $79.00K | $43.13M | $181.70M | $181.73M | ||
| Europe | — | — | — | — | ||
| Central Asia | — | — | — | — | ||
| United States | — | $12.84M | $43.95M | $2.93M | ||
| Us | $13.10M | — | — | — | ||
| Other | $2.43M | $1.70M | $5.30M | $13.95M | ||
| Total | $799.14M | $1.65B | $2.00B | $2.19B |
Freedom Holding brought in $2.19B from its five regions in fiscal 2026, the year ended March 31, 2026. That was up 9.3% from $2.00B in fiscal 2025. Kazakhstan was the largest at $1.84B (83.9%), ahead of Armenia at $181.73M (8.3%) and Cyprus at $154.16M (7.0%). The other two regions brought in $16.88M combined.
Compared with fiscal 2025, Cyprus grew fastest, up 121.8% to $154.16M. Every region above 2% of revenue grew.
Freedom Holding began breaking out United States in fiscal 2024, when it brought in $12.84M. Freedom Holding stopped reporting Us as a separate region after fiscal 2023, when it brought in $13.10M.
Brokerage was Freedom Holding’s largest segment in fiscal 2026, bringing in $831.51M of $2.19B (38%).
| Segment | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|
| Brokerage | $385.48M | $621.95M | $717.35M | $831.51M | |
| Bank | $245.34M | $615.87M | $506.15M | $689.20M | |
| Insurance | $173.07M | $325.51M | $636.65M | $497.78M | |
| Other | -$4.74M | $83.93M | $144.00M | $172.80M | |
| Total | $799.14M | $1.65B | $2.00B | $2.19B |
Freedom Holding brought in $2.19B from its four segments in fiscal 2026, the year ended March 31, 2026. That was up 9.3% from $2.00B in fiscal 2025. Brokerage was the largest at $831.51M (37.9%), ahead of Bank at $689.20M (31.5%) and Insurance at $497.78M (22.7%). The remaining segment, Other, brought in $172.80M.
Compared with fiscal 2025, Bank grew fastest, up 36.2% to $689.20M, while Insurance fell the most, down 21.8% to $497.78M. From fiscal 2023 to 2026, combined revenue from these segments grew from $799.14M to $2.19B, a compound annual growth rate of 40.0%. Brokerage's share of the total fell from 48.2% to 37.9%.
Freedom Holding (FRHC) reports its revenue by geography and by segment. In fiscal 2026, Kazakhstan was its largest region, bringing in $1.84B (83.9% of the total), followed by Armenia at $181.73M (8.3%).
Kazakhstan was Freedom Holding's largest region in fiscal 2026, bringing in $1.84B, or 83.9% of the $2.19B total across its five regions.
Brokerage was Freedom Holding's largest segment in fiscal 2026, bringing in $831.51M, or 37.9% of the $2.19B total across its four segments.
Among Freedom Holding's regions that make up at least 2% of revenue, Cyprus grew fastest in fiscal 2026, up 121.8% from $69.49M to $154.16M.
Every figure comes from Freedom Holding's annual financial filings, as reported. Each line keeps the name Freedom Holding gives it, and years follow its fiscal calendar.
Freedom Holding's revenue by geography goes back to fiscal 2020, with figures through fiscal 2026. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.