INTU earnings call summary

Prepared Highlights

• Full year FY2025 total revenue grew 16% year-over-year; Q4 revenue was $3.8 billion, up 20% (prepared).
• Global Business Solutions Group Q4 revenue grew 18% (21% ex-Mailchimp); full year grew 16% (18% ex-Mailchimp) (CFO).
• Online Ecosystem Q4 revenue grew 21% (26% ex-Mailchimp); full year grew 20% (25% ex-Mailchimp) (CFO).
• QuickBooks Online Accounting Q4 revenue grew 23%; full year grew 22% (CFO).
• Online Services Q4 revenue grew 19% (29% ex-Mailchimp); full year grew 19% (29% ex-Mailchimp) (CFO).
• Consumer Group full year revenue grew 10% to $4.9 billion; TurboTax Live revenue grew 47% (30-point acceleration), customer growth 24% (CFO).
• Credit Karma full year revenue grew 32%; Q4 grew 34% (personal loans +15 pts, credit cards +13 pts, auto insurance +5 pts) (CFO).
• Desktop Ecosystem Q4 revenue grew 10%; full year grew 5% (CFO).
• ProTax Group full year revenue $621 million, up 4% (CFO).
• Online paying customers grew 5%; U.S. QBO customers (ex-Self-Employed) grew 8%; combined QBO Advanced + Intuit Enterprise Suite customers grew 23% (CFO).
• Online Ecosystem ARPC accelerated >3 pts in FY2025 to 14% (CFO).
• Total online payment volume Q4 growth 18% (CFO).
• GAAP operating income Q4 $339 million vs. loss of $151 million last year; non-GAAP operating income $1 billion, up 39% (CFO).
• GAAP diluted EPS Q4 $1.35 vs. loss of $0.07 last year; non-GAAP diluted EPS $2.75, up 38% (CFO).
• Share repurchases Q4 $748 million; FY2025 $2.8 billion (CFO).
• Quarterly dividend approved at $1.20 per share, 15% increase (CFO).
• Cash and investments $4.6 billion; debt $6 billion (CFO).

Official Guidance

• FY2026 total company revenue: $20.997B – $21.186B, growth 12%–13% (CFO).
• FY2026 Global Business Solutions Group revenue growth: 14%–15% (15.5%–16.5% ex-Mailchimp) (CFO).
• FY2026 Consumer Group revenue growth: 8%–9% (TurboTax +8%, Credit Karma +10%–13%, ProTax +2%–3%) (CFO).
• FY2026 GAAP diluted EPS: $15.49 – $15.69, growth 13%–15%; non-GAAP diluted EPS: $22.98 – $23.18, growth 14%–15% (CFO).
• FY2026 GAAP tax rate: ~23% (CFO).
• Q1 FY2026 total company revenue growth: 14%–15%; GAAP EPS: $1.19 – $1.26; non-GAAP EPS: $3.05 – $3.12 (CFO).
• Long-term expectations reiterated: Global Business Solutions Group 15%–20% revenue growth (ARPC 10%–20%, customer growth 5%–10%); TurboTax 6%–10% (TurboTax Live 15%–20%); Credit Karma 10%–15% (CFO).
• Mailchimp expected to exit FY2026 growing double digits (CFO).

Mgmt Quotes

• “Our full year revenue grew 16% with another year of strong operating margin expansion.” (CEO)
• “We launched a transformative virtual team of AI agents that complete jobs on behalf of our customers, dramatically improving how businesses run and grow.” (CEO)
• “The total number of new billed customers in Q4 was up nearly 2x versus Q3 with successful adoption by some very large customers, including 1 customer with over 200 entities.” (CEO)
• “We delivered strong results in fiscal 2025 across the company, including total revenue growth of 16%, a more than 2-point acceleration from fiscal 2024.” (CFO)
• “Our guidance includes total company revenue of $20.997 billion to $21.186 billion, growth of 12% to 13%.” (CFO)

Prepared Metrics