Fin: The Rival Whose Newest Product Is Bigger Than TextThin moat

Text (TXT) — moat facet

Intercom renamed itself after its AI agent, priced by the answer, and took net revenue retention from 112% to 146%.

The company Text lists first among its competitors has renamed itself after the product that is beating it.

Fin against TextFin agent ARR, growing ~350%$100m+Fin whole company ARR~$400mText total ARR, growing 4,0%$89,5mFin net revenue retention after usage pricing112% to 146%Fin resolves ~2m queries a week for ~8 000 businesses at a 67% resolution rate
The rival renamed itself after the product that is beating Text, and prices by the answer.

Intercom now trades as Fin1. Its agent surpassed 100 million dollars of annual recurring revenue at roughly 350% annual growth, used by about 8 000 businesses and resolving close to two million support queries a week — the equivalent of more than 6 500 human agents — at a 67% average resolution rate2. The whole company sits near 400 million dollars of ARR, up from 382 million at the end of 2025, growing 27%3.

Set beside Text: 89,52 million dollars of ARR4, up 4,0% year on year after a decline, on a 74% resolution rate5.

Text is therefore ahead on the capability and behind on everything else, and the reason is what each company charges for. Fin sells the outcome at 99 cents per resolved conversation, and the move to that model took its net revenue retention from 112% to 146%6 — meaning existing customers spend nearly half again as much each year, without a single new logo. Text's revenue is 83,7% LiveChat7, priced at 49 to 79 dollars per seat8, where a customer's bill falls as automation succeeds.

Text has built the identical meter into its new suite at the identical 99 cents9. It has not yet moved the installed base onto it.

The falsifying comparison is straightforward and public. Fin reports agent ARR; Text reports total MRR. If Text's grows through a quarter with no repricing in it while Fin's growth rate decelerates, the gap is closing. Neither has happened yet.

Moat trajectory: Narrowing

One competitor's newest product line is now larger than the whole of Text and growing many times faster, on a pricing model Text has built but not yet applied to its own installed base.

The number that tests this moat
Third-party estimate
Fin agent ARR against Text's total ARR
$100m+ growing ~350%, against $89,52m growing 4,0%

Intercom renamed itself Fin after the product, which is used by around 8 000 businesses, resolves close to two million queries a week at a 67% resolution rate, and sits inside a company at roughly $400m of ARR. Text leads on resolution rate and trails on everything that follows from pricing and capital: Fin charges $0,99 per resolved outcome and took net revenue retention from 112% to 146%. The comparison is public on both sides.

Source: Sacra research note on Intercom ↗
References
  1. Third-party estimateIntercom now trades as Fin.
    Sacra research note on Intercom, now trading as Fin (approximately USD 400m of annual recurring revenue as of April 2026, up from 382m at the end of 2025 and growing 27%; the Fin AI agent surpassing USD 100m of ARR and expanding at about 350% a year across roughly 8 000 businesses, resolving close to two million support queries a week - equivalent to more than 6 500 human agents - at a 67% average resolution rate; usage-based pricing at USD 0,99 per resolved outcome, a shift that improved net revenue retention from 112% to 146%; a valuation of USD 1,3bn in 2024 with March 2026 venture debt discussions at USD 2bn or higher; and Zendesk at roughly 170 000 customers, about 30% of the global customer-service market, on a USD 9,1bn market capitalisation, with Freshworks around USD 3,7bn) — April 2026 · publ. 2026 · source ↗
  2. Third-party estimateIts agent surpassed 100 million dollars of annual recurring revenue at roughly 350% annual growth, used by about 8 000 businesses and resolving close to two million support queries a week - the equivalent of more than 6 500 human agents - at a 67% average resolution rate.
    Sacra research note on Intercom, now trading as Fin (approximately USD 400m of annual recurring revenue as of April 2026, up from 382m at the end of 2025 and growing 27%; the Fin AI agent surpassing USD 100m of ARR and expanding at about 350% a year across roughly 8 000 businesses, resolving close to two million support queries a week - equivalent to more than 6 500 human agents - at a 67% average resolution rate; usage-based pricing at USD 0,99 per resolved outcome, a shift that improved net revenue retention from 112% to 146%; a valuation of USD 1,3bn in 2024 with March 2026 venture debt discussions at USD 2bn or higher; and Zendesk at roughly 170 000 customers, about 30% of the global customer-service market, on a USD 9,1bn market capitalisation, with Freshworks around USD 3,7bn) — April 2026 · publ. 2026 · source ↗
  3. Third-party estimateThe whole company sits near 400 million dollars of ARR, up from 382 million at the end of 2025, growing 27%.
    Sacra research note on Intercom, now trading as Fin (approximately USD 400m of annual recurring revenue as of April 2026, up from 382m at the end of 2025 and growing 27%; the Fin AI agent surpassing USD 100m of ARR and expanding at about 350% a year across roughly 8 000 businesses, resolving close to two million support queries a week - equivalent to more than 6 500 human agents - at a 67% average resolution rate; usage-based pricing at USD 0,99 per resolved outcome, a shift that improved net revenue retention from 112% to 146%; a valuation of USD 1,3bn in 2024 with March 2026 venture debt discussions at USD 2bn or higher; and Zendesk at roughly 170 000 customers, about 30% of the global customer-service market, on a USD 9,1bn market capitalisation, with Freshworks around USD 3,7bn) — April 2026 · publ. 2026 · source ↗
  4. ReportedSet beside Text: 89,52 million dollars of ARR, up 4,0% year on year after a decline, on a 74% resolution rate.
    Text Group Management Board report for 2025/26, the chief executive's letter (the statement that on the financial results the past fiscal year was not a successful one, with dollar revenue similar to the prior year but lower after conversion to złoty and costs incurred in both currencies; an artificial-intelligence resolution rate of 74% against an industry average of 59%, a figure said to include customers who have not yet trained the models on their own data; the intention to measure success in dollars earned rather than dollars saved on customer support, building an ecosystem that becomes a growth engine for customers rather than a cost centre; and the assessment that Text operates in a market with strong competitors, many with enormous resources they can and sometimes must allocate to customer acquisition, that Text must be smarter, more creative, harder-working and more efficient, and that success is not guaranteed) — FY2025/26 · publ. June 2026 · source ↗
  5. ReportedSet beside Text: 89,52 million dollars of ARR, up 4,0% year on year after a decline, on a 74% resolution rate.
    Text Group Management Board report for 2025/26, the chief executive's letter (the statement that on the financial results the past fiscal year was not a successful one, with dollar revenue similar to the prior year but lower after conversion to złoty and costs incurred in both currencies; an artificial-intelligence resolution rate of 74% against an industry average of 59%, a figure said to include customers who have not yet trained the models on their own data; the intention to measure success in dollars earned rather than dollars saved on customer support, building an ecosystem that becomes a growth engine for customers rather than a cost centre; and the assessment that Text operates in a market with strong competitors, many with enormous resources they can and sometimes must allocate to customer acquisition, that Text must be smarter, more creative, harder-working and more efficient, and that success is not guaranteed) — FY2025/26 · publ. June 2026 · source ↗
  6. ReportedFin sells the outcome at 99 cents per resolved conversation, and the move to that model took its net revenue retention from 112% to 146% - meaning existing customers spend nearly half again as much each year, without a single new logo.
    Text pricing (Essential at USD 19 per user per month billed annually, or 25 monthly, including 10 AI Agent resolutions a month; Growth at USD 79 per user per month, or 99 monthly, including 200 resolutions a month; Enterprise on custom pricing; additional resolutions at USD 49,50 for a package of 50, or 0,99 each; a resolution counted when the AI Agent provides an answer that directly solves at least one customer question; and a 14-day free trial with full platform access and no credit card required) — September 2026 · publ. September 2026 · source ↗
  7. ReportedText's revenue is 83,7% LiveChat, priced at 49 to 79 dollars per seat, where a customer's bill falls as automation succeeds.
    LiveChat pricing (Starter at USD 19 per person per month billed annually or 25 monthly; Team at USD 49 billed annually or 59 monthly; Business at USD 79 billed annually or 89 monthly; and Enterprise on custom pricing, all charged per agent per month with a discount for annual billing) — September 2026 · publ. September 2026 · source ↗
  8. ReportedText's revenue is 83,7% LiveChat, priced at 49 to 79 dollars per seat, where a customer's bill falls as automation succeeds.
    LiveChat pricing (Starter at USD 19 per person per month billed annually or 25 monthly; Team at USD 49 billed annually or 59 monthly; Business at USD 79 billed annually or 89 monthly; and Enterprise on custom pricing, all charged per agent per month with a discount for annual billing) — September 2026 · publ. September 2026 · source ↗
  9. ReportedText has built the identical meter into its new suite at the identical 99 cents.
    Text pricing (Essential at USD 19 per user per month billed annually, or 25 monthly, including 10 AI Agent resolutions a month; Growth at USD 79 per user per month, or 99 monthly, including 200 resolutions a month; Enterprise on custom pricing; additional resolutions at USD 49,50 for a package of 50, or 0,99 each; a resolution counted when the AI Agent provides an answer that directly solves at least one customer question; and a 14-day free trial with full platform access and no credit card required) — September 2026 · publ. September 2026 · source ↗
Sources
Generated September 24, 2026