Intuit Inc. Q4 FY2025 earnings call

• Intuit achieved 16% full year revenue growth with strong operating margin expansion, fueled by investments in data, AI, and human intelligence.
• Launched a transformative all-in-one business platform with AI agents and human experts for lead to cash management. Saw strong traction with customer engagement in the millions and high repeat usage rates.
• Made progress in mid-market with Intuit Enterprise Suite, including Q1 2025 product releases boosting growth and profitability, and partnerships with accounting firms.
• Consumer Group had 10% revenue growth in fiscal 2025, driven by 47% growth in TurboTax Live and 32% growth in Credit Karma.

Global Business Solutions Group: Q4 revenue grew 18% (21% excluding Mailchimp), full year 16% (18% excluding Mailchimp). Online Ecosystem revenue Q4 21%, full year 20%. QuickBooks Online Accounting Q4 23%, full year 22%. Online Services Q4 19% (29% excluding Mailchimp), full year 19% (29% excluding Mailchimp). Mailchimp revenue down slightly but expected to exit fiscal 2026 growing double digits. Desktop Ecosystem: Q4 revenue 10%, full year 5%. QuickBooks Desktop Enterprise mid-teens in Q4, high single digits in fiscal 2025. Consumer Group: Fiscal 2025 revenue $4.9 billion, up 10%. TurboTax Live revenue grew 47%, Credit Karma revenue up 32%, ProTax Group up 4%.

• Fiscal 2026 total company revenue expected to be $20.997B to $21.186B, growth 12-13%.
• Global Business Solutions Group revenue growth 14-15% (15.5-16.5% excluding Mailchimp).
• Consumer Group revenue growth 8-9%, including 8% TurboTax growth, 10-13% Credit Karma growth, 2-3% ProTax growth.
• GAAP diluted EPS $15.49-$15.69 (13-15% growth), non-GAAP diluted EPS $22.98-$23.18 (14-15% growth).
• Q1 2026 total company revenue growth 14-15%, GAAP EPS $1.19-$1.26, non-GAAP EPS $3.05-$3.12.

• Potential impact of market conditions on results.
• Mailchimp integration challenges initially, though expected to exit fiscal 2026 growing double digits.
• Cyclicality concerns for Credit Karma, though investments in non-cyclical areas aim to mitigate this.

Q: Siti Panigrahi asked about small business growth in fiscal '26 and SEO impact on QuickBooks.

A: Sasan K. Goodarzi noted strong customer growth in U.S. QBO and mid-market, AI search plays in their favor with low reliance on SEO for Credit Karma, and majority of growth from recommendations.

Q: Keith Weiss asked about monetization of AI agents and Mailchimp's return to growth.

A: Sasan K. Goodarzi said AI agent monetization not counted in guidance but engagement above expectations; Mailchimp expected to exit fiscal 2026 in double digits with sales playbook and product improvements driving growth.

Q: Kirk Materne inquired about Credit Karma's cyclicality and confidence in guidance.

A: Sasan K. Goodarzi explained Credit Karma's strategic role in consumer platform, share gains due to data/AI investments, and investments in non-cyclical areas like insurance and prime customers.