Quarterly report [Sections 13 or 15(d)]

SEGMENT REPORTING (Tables)

v3.26.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Three months ended June 30, 2026
STATEMENT OF OPERATIONS
 Brokerage Banking Insurance Other Total
Fee and commission income $ 167,540  $ (26,736) $ —  $ 15,930  $ 156,734 
Net gain/(loss) on trading securities 1,082  77,227  (890) 2,359  79,778 
Interest income 114,524  150,660  26,644  3,278  295,106 
Net insurance revenue —  —  124,175  —  124,175 
Net (loss)/gain on foreign exchange operations (1,576) 15,463  96  (257) 13,726 
Net (loss)/gain on derivative (273) 7,812  —  2,314  9,853 
Sales of goods and services —  —  —  41,510  41,510 
Other income 1,260  800  832  8,753  11,645 
TOTAL REVENUE, NET 282,557  225,226  150,857  73,887  732,527 
Fee and commission expense 17,799  8,387  2,388  2,715  31,289 
Interest expense 9,819  130,091  2,032  35,621  177,563 
Insurance claims and policyholder benefits, net of reinsurance —  —  131,582  —  131,582 
Payroll and bonuses 56,114  39,011  10,566  47,436  153,127 
Professional services 2,401  69  704  6,830  10,004 
Stock compensation expense 3,511  2,126  14,798  2,800  23,235 
Advertising and sponsorship expense 10,503  1,175  174  23,933  35,785 
General and administrative expense 14,558  25,213  2,908  33,526  76,205 
Allowance for expected credit losses/(recoveries) 349  13,256  3,577  477  17,659 
Cost of sales —  —  —  35,244  35,244 
TOTAL EXPENSE 115,054  219,328  168,729  188,582  691,693 
INCOME/(LOSS) BEFORE INCOME TAX $ 167,503  $ 5,898  $ (17,872) $ (114,695) $ 40,834 
Income tax (expense)/benefit (33,857) (2,213) (1,324) 28,220  (9,174)
NET INCOME/(LOSS) $ 133,646  $ 3,685  $ (19,196) $ (86,475) $ 31,660 
Three months ended June 30, 2025 (Recasted)
STATEMENTS OF OPERATIONS
 Brokerage Banking Insurance Other Total
Fee and commission income $ 105,825  $ (8,825) $ —  $ 10,642  $ 107,642 
Net gain on trading securities 7,063  29,665  4,096  4,778  45,602 
Interest income 64,940  115,929  16,500  1,202  198,571 
Net insurance revenue —  —  143,815  —  143,815 
Net (loss)/gain on foreign exchange operations (2,445) (13,850) (142) 3,544  (12,893)
Net gain/(loss) on derivative 50  16,900  —  (1,491) 15,459 
Sales of goods and services —  —  —  17,224  17,224 
Other income 827  6,423  308  1,003  8,561 
TOTAL REVENUE, NET 176,260  146,242  164,577  36,902  523,981 
Fee and commission expense 10,787  5,603  65,517  2,447  84,354 
Interest expense 16,082  79,237  2,629  15,462  113,410 
Insurance claims and policyholder benefits, net of reinsurance —  —  64,996  —  64,996 
Payroll and bonuses 34,193  19,241  7,535  31,536  92,505 
Professional services 1,917  195  707  10,205  13,024 
Stock compensation expense 6,213  3,070  10,451  3,320  23,054 
Advertising and sponsorship expense 8,262  923  249  15,029  24,463 
General and administrative expense 10,788  12,316  2,074  16,797  41,975 
(Recoveries)/allowance for expected credit losses (2,323) 5,624  1,185  336  4,822 
Cost of sales —  —  —  13,903  13,903 
TOTAL EXPENSE 85,919  126,209  155,343  109,035  476,506 
INCOME/(LOSS) BEFORE INCOME TAX $ 90,341  $ 20,033  $ 9,234  $ (72,133) $ 47,475 
Income tax (expense)/benefit (15,993) (2,662) (4,118) 12,654  (10,119)
NET INCOME/(LOSS) $ 74,348  $ 17,371  $ 5,116  $ (59,479) $ 37,356 

The following tables summarize the Company's total assets and total liabilities by its business segments as of the dates presented. Intercompany balances have been eliminated for separate disclosure.

June 30, 2026
Brokerage Banking Insurance Other Total
Total assets $ 5,690,092  $ 6,026,079  $ 1,049,192  $ 1,281,521  $ 14,046,883 
Total liabilities 4,212,191  5,391,703  847,328  2,060,385  12,511,607 
Net assets $ 1,477,901  $ 634,376  $ 201,864  $ (778,864) $ 1,535,276 
March 31, 2026
Brokerage Banking Insurance Other Total
Total assets $ 6,136,241  $ 5,359,812  $ 892,186  $ 767,000  $ 13,155,239 
Total liabilities 4,763,038  4,727,241  680,071  1,495,610  11,665,960 
Net assets $ 1,373,203  $ 632,571  $ 212,115  $ (728,610) $ 1,489,279 

The following table presents revenues for the three months ended June 30, 2026 and 2025, and long-lived assets as of June 30, 2026 and March 31, 2026, classified by the major geographic areas based on subsidiaries' location.
Three months ended June 30, 2026
Revenue Brokerage Banking Insurance Other Total
Kazakhstan $ 173,053  $ 225,132  $ 150,857  $ 63,109  $ 612,151 
Armenia 65,162  —  —  —  65,162 
Cyprus 40,824  —  —  7,072  47,896 
US 1,766  —  —  572  2,338 
Other 1,752  94  —  3,134  4,980 
TOTAL REVENUE, NET $ 282,557  $ 225,226  $ 150,857  $ 73,887  $ 732,527 
Three months ended June 30, 2025 (Recasted)
Revenue Brokerage Banking Insurance Other Total
Kazakhstan $ 113,435  $ 146,158  $ 164,577  $ 27,954  $ 452,124 
Armenia 43,661  —  —  —  43,661 
Cyprus 17,265  —  —  3,191  20,456 
US 909  —  —  4,872  5,781 
Other 990  84  —  885  1,959 
TOTAL REVENUE, NET $ 176,260  $ 146,242  $ 164,577  $ 36,902  $ 523,981 

June 30, 2026
Long-lived assets Brokerage Banking Insurance Other Total
Fixed assets, net $ 24,128  $ 90,474  $ 7,212  $ 250,166  $ 371,980 
Right-of-use assets 21,556  7,225  2,001  30,656  61,438 
TOTAL LONG-LIVED ASSETS $ 45,684  $ 97,699  $ 9,213  $ 280,822  $ 433,418 
Kazakhstan 16,094  95,219  9,213  238,445  358,971 
Cyprus 11,600  —  —  29,233  40,833 
US 3,475  —  —  9,472  12,947 
Armenia 7,670  —  —  —  7,670 
Other 6,845  2,480  —  3,672  12,997 
TOTAL LONG-LIVED ASSETS $ 45,684  $ 97,699  $ 9,213  $ 280,822  $ 433,418 
March 31, 2026
Long-lived assets Brokerage Banking Insurance Other Total
Fixed assets, net $ 23,049  $ 89,083  $ 7,040  $ 239,224  $ 358,396 
Right-of-use assets 21,065  7,986  1,934  16,594  47,579 
TOTAL LONG-LIVED ASSETS $ 44,114  $ 97,069  $ 8,974  $ 255,818  $ 405,975 
Kazakhstan 15,124  95,288  8,974  219,533  338,919 
Cyprus 12,371  —  —  27,541  39,912 
US 3,640  —  —  5,782  9,422 
Armenia 5,571  —  —  —  5,571 
Other 7,408  1,781  —  2,962  12,151 
TOTAL LONG-LIVED ASSETS $ 44,114  $ 97,069  $ 8,974  $ 255,818  $ 405,975