13/09/2022
There is a management commandment
that a good top manager should be able to brag about
his/her achievements. And since I'm a CEO all the way
in an American public company, it's time for me to tell
you, many of whom are our shareholders and partners,
how we are doing and why you all indirectly pay my
salary. Yesterday, Freedom ($FRHC) reported for the
previous financial year. The year is strange, it begins on
April 1, and for us FY2020 has already ended on March
31. Last fall, we went to NASDAQ, raised capital,
brought hundreds of new shareholders, including many
of our clients and partners, and many global cool
names such as Renaissance Technologies, Arrowstreet,
BlackRock, FMR, Goldman Sachs, Frank Russell, Bank
of America, Allianz, Credit Suisse, Morgan Stanley and
others, according to the open according to the SEC. In
the past year, we've opened offices, prepared M&A,
launched new products, and faced one more
challenging challenge almost every day. We learned
together to manage an already large (under 2k) and
dynamically growing team, challenge security and IT
challenges, scale our systems, break key team
members, and discover new amazing talent. We have
taken on ourselves a huge responsibility to hundreds of
thousands of customers and thousands of partners and
partners and have truly become a systematic player in
our industry. Despite the tough quarantine in the USA
and all our countries, we managed the audit and got a
clean conclusion from the auditors, without any talk
about the quality of reporting and controls, bravo to
our CFO, Eugene Ler and his team! So, to the link in the
profile! We've hit $100 million a year and still growing
rapidlv! M Revenue of $122 million increased 64%, or
$47.6 million, over the same period in 2019, mainly due
to a vear-on-year increase in commission revenue of
109% or 48.4 million, from $44.3 million to $92.7
million. * Net profit increased by $15 million, to $22
million. M Profit on stock of $0.38, based on an
average of shares of 58 million, increased by $0.26
compared to profit of $0.12 per share for the 2019
fiscal ear ended March 31, 2019.
