Timur Turlov's Freedom shares soared at the auction amid the completion of the SEC audit

Shares of Timur Turlov's fintech Freedom Holding Corp. On the NASDAQ on Tuesday, June 2, they rose by 4.9%, breaking the mark of $157.

Securities rose sharply against the background of the publication of the report for the 2026 financial year: in early June, Turlov's company reported record revenue of $ 2.19 billion and a twofold increase in net profit. In addition, the holding announced the actual completion of a multi-year audit by the U.S. Securities and Exchange Commission (SEC).

Freedom Holding received record revenue

According to the results of the fiscal year ended March 31, 2026, Freedom Holding's revenue reached $2.19 billion against $2.04 billion a year earlier. Since listing on NASDAQ in 2019, this figure has increased 26-fold. Profit before tax was $226 million, and net profit more than doubled to $153.3 million from $76 million a year earlier.

Earnings per share reached $2.56. The total assets of the holding increased to $13.2 billion, the volume of cash, investment securities and liquid assets amounted to $5.5 billion, equity reached $1.5 billion. Net cash flow from operating activities increased to $185.2 million.

The main growth driver for Timur Turlov's company was the positive financial result from operations with trading securities. The company made a profit of $158.8 million against a loss of $57.8 million a year earlier. The telecommunications business, cloud services and the development of the marketplace also made a significant contribution. Arbuz.kz .

The number of ecosystem customers continued to grow. The number of brokerage accounts increased to 858,000, banking customers to 5 million, and Freedom SuperApp users to 5.2 million. The total number of clients of the group's companies reached 8.1 million people. Taking into account partner services, the ecosystem's audience already exceeds 14 million users.

In fiscal year 2026, $61.1 million was allocated through the Freedom Shapagat corporate fund for the implementation of sustainable development projects.

"Fiscal year 2026 has become a period of consistent business strengthening for Freedom Holding, further expansion of the ecosystem and implementation of strategic initiatives in new directions. We have demonstrated steady revenue growth, increased our customer base, strengthened our positions in key segments, and continued our international expansion," said the CEO of Freedom Holding Corp. Timur Turlov.

Completion of the SEC review

An additional factor in the growth of quotations was the disclosure of information about the completion of a lengthy regulatory process. In its reporting, Freedom Holding announced the receipt of the Wells notification, a document in which the U.S. Securities and Exchange Commission actually announces the completion of the main verification process, which it has been conducting since 2021. The regulator was interested in settlements on individual transactions, the company's relations with some institutional investors, and accounting practices for transactions performed within the clearing system. Timur Turlov emphasizes that Wells' notification is not an accusation, a lawsuit, or an admission of violations. The company has submitted its objections to the regulator and continues to interact with the SEC as part of the standard procedure. In the market, Wells notification is considered a standard element of the regulatory procedure. Previously, such documents were received by Tesla, Goldman Sachs, JPMorgan Chase and hundreds of other companies.

The company notes that the auditor from the "big four" Deloitte confirmed the reliability of the financial statements of the holding and the absence of significant comments on the internal control system.

Founder and majority shareholder of Freedom Holding Corp. Timur Turlov noted on his social media that the completion of the audit opens a direct path for the holding to raise capital and obtain financial licenses in the United States and Europe.

Turlov Holding's position in the market

In the spring of 2026, S&P Global Ratings confirmed the holding's long-term rating at B- with a stable outlook. The Agency separately noted the development of the risk management system, the strengthening of compliance functions and the stable financial performance of the group.

In addition, for the first time, Moody's Ratings has assigned Freedom Bank a long-term deposit rating of Ba3 with a stable outlook. Moody's noted the bank's strong position in the Kazakh market, high capitalization, stable liquidity and support from the parent company Freedom Holding.

Freedom shares are now included in the Russell 3000, Nasdaq Composite and ITS World indexes. The company's institutional investors include BlackRock, Vanguard, Morgan Stanley, JPMorgan Chase, as well as hedge funds Citadel and Millennium Management.

Partnerships with AI industry leaders

At the same time, Freedom is strengthening its position in the technology sector and developing projects in the field of artificial intelligence, data centers and cloud computing.

Together with Nvidia, the holding is implementing a project of the national artificial intelligence center in Kazakhstan worth about $2 billion. Timur Turlov's holding company will build a hub with an exascale-level computing infrastructure for training AI models, processing big data, and launching services for businesses and the public sector.

The partnership with Amazon Web Services was the first such agreement between AWS and a local Central Asian company. It provides Kazakhstani customers with access to global cloud infrastructure, machine learning tools, and international certification programs.

In 2025, Freedom Holding signed an agreement with OpenAI and the Government of Kazakhstan to introduce the ChatGPT Edu platform into the country's education system. About 165,000 teachers received access to modern artificial intelligence tools as part of the project.

In May 2026, together with Nokia, the company opened a research laboratory in Silicon Valley. The parties are working on technologies for next-generation data centers, cloud platforms, telecommunications infrastructure, and artificial intelligence-based solutions.

Cooperation with China Mobile International has become another important project: as part of the partnership, the Akashi Data Center is being built in Astana, the largest data center in Central Asia with the highest level of Tier IV reliability. More than 60% of the space at the facility has been reserved, and companies from the USA, Kazakhstan, and China will become customers of the data center. Timur Turlov, being one of the ideological inspirers of the project, allocated personal funds for the construction of the Akashi Data Center.

This spring, Freedom Holding also joined the GSMA International Association, which unites the world's largest telecom operators. The company expects to use this partnership to develop digital financial services at the intersection of telecommunications and fintech.

The holding has also registered Freedom AI Ltd., which will develop a new generation of computing infrastructure, cloud platforms, and artificial intelligence solutions.

Today, Freedom Holding operates in more than 20 countries in Europe, Central Asia, the Middle East, and the United States. In recent years, the company has transformed from a broker into an international financial and technological ecosystem. It includes brokerage business, banking and insurance services, payment services, telecommunication projects, e-commerce, cloud technologies and digital platforms for everyday services.

International expansion remains one of the main areas of further growth: in March 2026, the holding's subsidiary signed an agreement to purchase 99.32% of Turkish Bank. The company has also received permission to establish a brokerage structure in Turkey and considers the country with a population of about 90 million people as one of the key foreign markets. In addition, Timur Turlov is exploring the possibilities of new banking transactions in Armenia and France.