Key Highlights

• On 5 August 2026, Topicus, together with Constellation Software, announced results for the second quarter ended 30 June 2026.
• Revenue was about €437.3 million, up about 18% year over year from about €372.0 million, with organic growth of about 4%.
• Revenue growth of about 18% is strong, but organic growth of about 4% clarifies that acquisitions did most of the work — a normal feature of this model rather than a flaw.
• Viewed through that lens, Topicus’s roughly 4% organic growth is unremarkable and expected, while the roughly 18% total growth and the improvement in free Cash Flow available to shareholders are the more relevant indicators of the engine…