European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank40

Italy · Technology

TXT e solutions

Provides software, consulting and digital solutions across aerospace, defence, industry, government and fintech markets.

+162%revenue growth
FY2022–FY2025
+94%net-income growth
FY2022–FY2025
+144%stock return
FY2022–FY2025
+67%2026 stock return
current context only

Company profile

Software inside aircraft, simulators and financial workflows

TXT e solutions develops software for systems where mistakes are expensive: aircraft design, airborne code, pilot training, factory operations and regulated financial processes. Its aerospace portfolio is unusually visual, with tools for configuring cabins, comparing aircraft architectures, optimising flight profiles and powering pilot-training devices. Other teams apply the same combination of specialist engineering and reusable software to anti-money-laundering controls, payments and supply-chain finance across an international group headquartered in Italy.

Design before metal

DESMO, MyCabin and Halo turn design choices into visual models

DESMO supports early aircraft and onboard-system trade-offs. ACE MyCabin gives teams a collaborative cabin-layout environment, while Halo is a 3D configurator for aircraft-interior products, using predefined allowed equipment positions and options. The embedded official demonstrations show layouts and product configurations changing on screen.

Training and simulation

From authoring XR training to powering flight-deck devices

WEAVR supports drag-and-drop authoring of hands-on XR training, browser-based distribution and knowledge-retention tracking. ProSim software powers partner-supplied fixed-base devices for 737 NG, 737 MAX and A320 ceo/neo aircraft. VAPS XT creates interactive real-time graphical displays used in simulation and embedded-interface development.

From code to operation

Certified software, efficient flights and digital factories

TXT takes airborne software from architecture through verification and DO-178C support. Pacelab Flight Profile Optimizer recommends cost-efficient speeds and altitudes. On 2 March 2026, PACE America acquired SmartRoutes and integrated its real-time en-route optimisation into FPO. The integrated offering, together with two major US airline contracts, is expected to reach approximately USD 20 million of subscription recurring revenue by 2027; H1 gives no airline deployment, active-user or realised-revenue KPI and does not update the earlier Q4 2026 full-service target. The digital-manufacturing practice links planning with shop-floor work, while the planned ISM4Italy hub remains future research infrastructure.

Fintech products

Fintech platforms address distinct financial workflows

Faraday applies machine learning to risk and anti-money-laundering analysis. Polaris connects buyers, suppliers and financial partners in supply-chain-finance programmes. TXT's payments offering covers digital payments, meal vouchers, loyalty services and terminal management, while Cheleo software covers lending, leasing, factoring and non-performing-loan workflows.

Current 2026 update

What is changing at TXT e solutions in 2026?

TXT is scaling flight optimisation through airline subscriptions, consolidating a digital-infrastructure acquisition and building a specialist defence-engineering team.

Latest official evidence H1 integration and execution update Published 6 August 2026

The change in one sentence

Three specialised platforms are moving from acquisition or agreement toward execution.

SmartRoutes extends a proprietary aviation product, Digital Edge adds infrastructure capabilities and the TXT-MBDA partnership creates a phased engineering build-out, each with a different proof point still missing.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · Flight operations

SmartRoutes becomes a two-airline subscription plan

PACE America completed the SmartRoutes acquisition on 2 March and integrated its real-time en-route flight optimisation into Pacelab FPO. TXT says the acquired business generated about USD 2 million of recurring revenue in 2025. Together with two contracts signed with major US airlines, the combined FPO-SmartRoutes offering is expected to reach approximately USD 20 million of subscription recurring revenue by 2027. H1 gives no airline-by-airline deployment, active-user or realised-revenue KPI and does not update the earlier Q4 2026 full-service target.

  • Current signalTwo US airline contracts · about USD 20m recurring revenue expected by 2027 · no rollout KPI
  • Why it mattersTXT is turning flight optimisation into a larger recurring software product, but forecast scale still needs deployment and revenue evidence.
  • H1 integration and execution update TXT e solutions · 2026-08-06

02 · Digital Edge

GCI closes and becomes the digital-infrastructure hub

TXT acquired 100% of GCI on 1 July and renamed it TXT Digital Edge. The business brings networking, data-centre, cybersecurity and data-platform capabilities for energy, finance, telecom and transport customers. TXT expects approximately EUR 30 million of revenue and EUR 3 million of EBITDA to consolidate in H2 2026; its 2027 plan targets about EUR 80 million and EUR 8 million at full run-rate including synergies. These are forecasts, not realised results at the cutoff.

  • Current signalAcquisition completed 1 July · H2 contribution forecast · 2027 synergy plan not yet realised
  • Why it mattersDigital Edge gives TXT an infrastructure-services platform, but integration quality and actual contribution matter more than the renamed perimeter.
  • H1 integration and execution update TXT e solutions · 2026-08-06
  • Digital Edge acquisition and plan TXT e solutions · 2026-07-01

03 · Defence engineering

The Turin partnership remains a three-year team build

TXT and MBDA agreed a phased Turin programme covering critical embedded software, systems engineering, advanced simulation and mission-critical algorithms. The plan combines experienced specialists with recruited and trained young engineers and calls for more than 100 new employees over three years. The release gives no hires completed, phase delivered, contract value, revenue or profit contribution by the cutoff.

  • Current signalFour technical domains · more than 100 planned hires · three-year horizon · no execution KPI
  • Why it mattersThe partnership can add scarce defence-software capacity, but the evidence is still a hiring and capability plan rather than delivered output.
  • TXT-MBDA Turin build-out TXT e solutions · 2026-07-13

04 · What to watch

Three questions for the next disclosures

The next reports should distinguish deployed software, realised acquisition synergies and recruited engineering capacity from forecasts and plans.

  • Airline rolloutDo both airlines enter service, and does TXT disclose active use or recurring revenue against the approximately USD 20 million 2027 expectation?
  • Integration and controlsDoes Digital Edge deliver its H2 forecast, and does TXT complete the remaining estimated EUR 6.2 million tax-regularisation cash outflow without recurrence?
  • Turin build-outHow many of the planned hires and technical phases are completed, and when does TXT disclose contract economics or delivered programmes?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202540+162%+94%+144%