HelpDeskThin moat

Text (TXT) — moat facet

HelpDesk doubled to 23,5m zł in the year LiveChat lost 38,8m zł; the filings do not say how much was a transfer.

HelpDesk brought in 23,5 million złoty in the year to March 2026, up 91,6% from 12,2 million12. With KnowledgeBase it was 7,5% of Text's revenue3. It was launched in 20194.

HelpDesk revenue, financial years to March (zl m)5,2FY20237,1FY202412,2FY202523,5FY2026Text consolidated statements FY2023/24 and FY2025/26
Growth of about 66% a year, and a doubling in FY2026.

It is a ticketing system: it manages customer requests arriving by email, chat and other channels, with teamwork, tagging and satisfaction scoring, and Text names Zendesk, Freshdesk, Zoho Desk, HappyFox and Help Scout as its competition5. That is a different market from live chat, served by bigger companies, which the Zendesk and Freshworks page describes.

The growth has been the fastest in the group. Revenue was 5,2 million złoty in the year to March 2023, 7,1 million a year later, 12,2 million in the year to March 2025 and 23,5 million in the year to March 202667, about 66% a year8. The filings do not explain the latest doubling. It came in the same year that LiveChat revenue fell by 38,8 million złoty9, which is the pattern a customer base moving between Text's own products would produce as well as the pattern of new customers; the disclosures do not separate the two.

Text does not report HelpDesk's profit. Its capitalised development stood at 3,9 million złoty at March 2026, down from 5,3 million10, so the doubling came without a rise in capitalised spending.

The number to watch is HelpDesk revenue in the current year. If it keeps growing while LiveChat stabilises, Text has a second product; if it grows only when LiveChat shrinks, the growth is a transfer rather than an addition.

Moat trajectory: Widening

HelpDesk revenue rose 91,6% to 23,5m zł in FY2026.

The number that tests this moat
Reported
HelpDesk revenue, financial year
23,5m zł in FY2026, +91,6%

Growth that continues while LiveChat stabilises would make HelpDesk a second product rather than a transfer.

Source: Text consolidated statements FY2025/26 ↗
References
  1. ReportedHelpDesk brought in 23,5 million złoty in the year to March 2026, up 91,6% from 12,2 million.
    Text Group consolidated financial statements for the year ended 31 March 2026 (revenue of PLN 329 073 thousand against 354 178; operating profit 126 931 against 177 367; profit before tax 126 680; net profit 116 608 against 164 418; earnings per share 4,53; 25 750 thousand shares; operating cash flow 161 552 against 179 489; revenue by product line of LiveChat 275,495, ChatBot 28,694, HelpDesk 23 466 and KnowledgeBase 1 418; revenue in US dollars of 88 162 thousand against 88 595; approximately 95% of consolidated revenue generated through the group's subsidiary in the United States and Polish sales of 4 837; costs by type including depreciation 26,396, third-party services 159 821 against 140,300, employee benefits 6 458 and total operating costs 201 291 against 176,876, split as cost of goods sold 106 753 against 85,588, selling expenses 68 457 and administrative expenses 26 081; total assets 195 923 against 226 705; equity 109 965 against 136 418; cash 62 780 against 77 704; current contract liabilities 65 502 and non-current 1 539; trade payables 10 284; no credits or loans; and income tax at 19% on other income and 5% on qualifying intellectual property rights under the IP Box regime, with the deferred portion computed at 6,87% against 7,43%) — FY2025/26 · publ. June 2026 · source ↗
  2. Moat Explorer calcHelpDesk brought in 23,5 million złoty in the year to March 2026, up 91,6% from 12,2 million.
    Moat Explorer calculations from Text's filed revenue by product (consolidated statements FY2023/24 and FY2025/26) — FY2023 - FY2026 · publ. 2026 · source ↗
    Method: Growth = year / prior year - 1; CAGR = (FY2026/FY2023)^(1/3) - 1; dollar decline = złoty change adjusted by the 8,0% lower average USD/PLN rate
  3. ReportedWith KnowledgeBase it was 7,5% of Text's revenue.
    Text Group Management Board report for 2025/26, key performance indicators (monthly recurring revenue of USD 6,93m at 31 March 2026, down 2,7% year on year and 0,7% on December, giving annual recurring revenue of USD 83,12m; revenue in US dollars of 88,2m against 88,6m, down 0,5%; payments received of USD 87,9m, down 0,7%; Q4 dollar revenue of 22,56m, the highest since Q2 2024/25; a LiveChat customer churn rate of 4% on a monthly basis with net MRR churn described as significantly lower; LiveChat at 83,7% of group revenue with ChatBot 8,7% and HelpDesk with KnowledgeBase 7,5%; and an average USD/PLN translation rate 8,0% lower than the prior period) — FY2025/26 · publ. June 2026 · source ↗
  4. ReportedIt was launched in 2019.
    Text management report FY2025/26 - company history and product descriptions (sections 5.2.1-5.2.6): LiveChat, ChatBot (released August 2017), HelpDesk (2019, competitors Zendesk, FreshDesk, ZOHO Desk, HappyFox, HelpScout), KnowledgeBase, OpenWidget (free); rebrand from LiveChat Software to Text in September 2023 — FY2025/26 · publ. June 2026 · source ↗
  5. ReportedIt is a ticketing system: it manages customer requests arriving by email, chat and other channels, with teamwork, tagging and satisfaction scoring, and Text names Zendesk, Freshdesk, Zoho Desk, HappyFox and Help Scout as its competition.
    Text management report FY2025/26 - company history and product descriptions (sections 5.2.1-5.2.6): LiveChat, ChatBot (released August 2017), HelpDesk (2019, competitors Zendesk, FreshDesk, ZOHO Desk, HappyFox, HelpScout), KnowledgeBase, OpenWidget (free); rebrand from LiveChat Software to Text in September 2023 — FY2025/26 · publ. June 2026 · source ↗
  6. ReportedRevenue was 5,2 million złoty in the year to March 2023, 7,1 million a year later, 12,2 million in the year to March 2025 and 23,5 million in the year to March 2026, about 66% a year.
    Text Group consolidated financial statements for the year ended 31 March 2024, revenue by product line (LiveChat 305 368 thousand złoty against 272 507 restated for the year to 31 March 2023, ChatBot 21 912 against 18,008, HelpDesk 7 100 against 5,170, KnowledgeBase 969 against 32, and total revenue 335 349 against 295 717) — FY2023/24 · publ. June 2024 · source ↗
  7. ReportedRevenue was 5,2 million złoty in the year to March 2023, 7,1 million a year later, 12,2 million in the year to March 2025 and 23,5 million in the year to March 2026, about 66% a year.
    Text Group consolidated financial statements for the year ended 31 March 2026 (revenue of PLN 329 073 thousand against 354 178; operating profit 126 931 against 177 367; profit before tax 126 680; net profit 116 608 against 164 418; earnings per share 4,53; 25 750 thousand shares; operating cash flow 161 552 against 179 489; revenue by product line of LiveChat 275,495, ChatBot 28,694, HelpDesk 23 466 and KnowledgeBase 1 418; revenue in US dollars of 88 162 thousand against 88 595; approximately 95% of consolidated revenue generated through the group's subsidiary in the United States and Polish sales of 4 837; costs by type including depreciation 26,396, third-party services 159 821 against 140,300, employee benefits 6 458 and total operating costs 201 291 against 176,876, split as cost of goods sold 106 753 against 85,588, selling expenses 68 457 and administrative expenses 26 081; total assets 195 923 against 226 705; equity 109 965 against 136 418; cash 62 780 against 77 704; current contract liabilities 65 502 and non-current 1 539; trade payables 10 284; no credits or loans; and income tax at 19% on other income and 5% on qualifying intellectual property rights under the IP Box regime, with the deferred portion computed at 6,87% against 7,43%) — FY2025/26 · publ. June 2026 · source ↗
  8. Moat Explorer calcRevenue was 5,2 million złoty in the year to March 2023, 7,1 million a year later, 12,2 million in the year to March 2025 and 23,5 million in the year to March 2026, about 66% a year.
    Moat Explorer calculations from Text's filed revenue by product (consolidated statements FY2023/24 and FY2025/26) — FY2023 - FY2026 · publ. 2026 · source ↗
    Method: Growth = year / prior year - 1; CAGR = (FY2026/FY2023)^(1/3) - 1; dollar decline = złoty change adjusted by the 8,0% lower average USD/PLN rate
  9. ReportedIt came in the same year that LiveChat revenue fell by 38,8 million złoty, which is the pattern a customer base moving between Text's own products would produce as well as the pattern of new customers; the disclosures do not separate the two.
    Text Group consolidated financial statements for the year ended 31 March 2026 (revenue of PLN 329 073 thousand against 354 178; operating profit 126 931 against 177 367; profit before tax 126 680; net profit 116 608 against 164 418; earnings per share 4,53; 25 750 thousand shares; operating cash flow 161 552 against 179 489; revenue by product line of LiveChat 275,495, ChatBot 28,694, HelpDesk 23 466 and KnowledgeBase 1 418; revenue in US dollars of 88 162 thousand against 88 595; approximately 95% of consolidated revenue generated through the group's subsidiary in the United States and Polish sales of 4 837; costs by type including depreciation 26,396, third-party services 159 821 against 140,300, employee benefits 6 458 and total operating costs 201 291 against 176,876, split as cost of goods sold 106 753 against 85,588, selling expenses 68 457 and administrative expenses 26 081; total assets 195 923 against 226 705; equity 109 965 against 136 418; cash 62 780 against 77 704; current contract liabilities 65 502 and non-current 1 539; trade payables 10 284; no credits or loans; and income tax at 19% on other income and 5% on qualifying intellectual property rights under the IP Box regime, with the deferred portion computed at 6,87% against 7,43%) — FY2025/26 · publ. June 2026 · source ↗
  10. ReportedIts capitalised development stood at 3,9 million złoty at March 2026, down from 5,3 million, so the doubling came without a rise in capitalised spending.
    Text Group consolidated financial statements for the year ended 31 March 2026 (revenue of PLN 329 073 thousand against 354 178; operating profit 126 931 against 177 367; profit before tax 126 680; net profit 116 608 against 164 418; earnings per share 4,53; 25 750 thousand shares; operating cash flow 161 552 against 179 489; revenue by product line of LiveChat 275,495, ChatBot 28,694, HelpDesk 23 466 and KnowledgeBase 1 418; revenue in US dollars of 88 162 thousand against 88 595; approximately 95% of consolidated revenue generated through the group's subsidiary in the United States and Polish sales of 4 837; costs by type including depreciation 26,396, third-party services 159 821 against 140,300, employee benefits 6 458 and total operating costs 201 291 against 176,876, split as cost of goods sold 106 753 against 85,588, selling expenses 68 457 and administrative expenses 26 081; total assets 195 923 against 226 705; equity 109 965 against 136 418; cash 62 780 against 77 704; current contract liabilities 65 502 and non-current 1 539; trade payables 10 284; no credits or loans; and income tax at 19% on other income and 5% on qualifying intellectual property rights under the IP Box regime, with the deferred portion computed at 6,87% against 7,43%) — FY2025/26 · publ. June 2026 · source ↗
Sources
Generated September 24, 2026