The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Brad Zelnick - Deutsche Bank - Analyst
: Great. Thanks so much for taking the question. So Sasan I wanted to ask about the restructuring, which I know you take very seriously.
We appreciate it wasn't motivated by cost savings, but rather to better position the company ahead, how are you thinking about
reinvesting, any savings as it takes time staff back up to prior levels? Are there specific initiatives that get allocated to any additional
color would be great. Thanks.
Question: Brad Zelnick - Deutsche Bank - Analyst
: Thanks Sandeep. Look forward to seeing you guys at Investor Day.
Question: Kash Rangan - Goldman Sachs - Analyst
: Thank you very much team here. A nice finish to the fiscal year and quite positive on the guidance. Sasan I couldn't help, but notice
that you're a small business, self-employed group is now running at the rate of $10 billion. I think as of this most recent quarter
10-ish.
Very few companies in software -- in the enterprise software market hit the $10 billion. And congrats you are there. You've done a
good job with finance accounting for the most part, you've got payments and payroll. So this puts you on track with ServiceNow I
believe also is a $10 billion run rate business growing a little bit faster and you're moving upmarket, your skilled mix is decidedly
more advanced and less of that lower value units.
So this has been -- at least from my perspective, more successful, your $10 billion in revenue, one of the largest enterprise software
companies in the world. What, so having come this far, where else could you go with this business? And I'm glad I'm not asking a
tax question. Thank you, so much.
Question: Kash Rangan - Goldman Sachs - Analyst
: Thank you Sasan. $10 billion onto to $20 billion. Thank you.
Question: Kirk Materne - Evercore ISI - Analyst
: Yeah, Thanks. Congrats on the quarter and upbeat guidance on next year. I guess Sasan my question comes around sort of the global
business solutions group. How are you thinking about Intuit Assists impact on that in the coming year. Where is that sort of in the
integration process? I'd just be curious about how you see that empowering your customers maybe growing, helping in areas like
mid-market or attach rates and some of your other products in that area. So I would wanted answer that -- discussed Intuit Assist
on the small-business side. Thanks.
Question: Kirk Materne - Evercore ISI - Analyst
: Super. Thank you so much.
Question: Kartik Mehta - Northcoast Research - Analyst
: Good evening, Sasan and Sandeep. Just a question on tax. Sasan, it seems as though you're executing on the live products, you're
starting to execute on the full service. I'm just wondering what was the thought of maybe lowering guidance now, considering the
momentum you're building in the business?
Question: Kartik Mehta - Northcoast Research - Analyst
: And just one follow-up, Sasan, as you look at the health of the Small Business, any change as you look throughout the quarter? Any
changes that may be give you concern or hope what's happening to your customers?
Question: Kartik Mehta - Northcoast Research - Analyst
: Okay. Thank you very much. Appreciate it.
Question: Daniel Jester - BMO Capital Markets - Analyst
: Great. Thanks for taking my question. It was great to hear about QBO Live, the number of clients more than tripling. Can you maybe
spend a moment talking about what's resonating there? And as you sort of move more into the middle market, what's the opportunity
for QBO Live to accelerate that more upmarket push?
Question: Daniel Jester - BMO Capital Markets - Analyst
: Great. Thank you very much.
Question: Brad Sills - Bank of America - Analyst
: Okay, wonderful. I wanted to ask a question around the platform for AI, the GenOS and the studio that you've outlined in the past,
I know it's a little further out to start thinking about separate SKUs, and it sounds like this is more of a conversion and a retention
play in the near term. But what were some of the learnings that you had over the course of the year in building out that platform for
AI, harnessing the data and some of the platform components that you've outlined at the Analyst Day last year that are underpinning
that. Thank you so much.
Question: Brad Sills - Bank of America - Analyst
: That's exciting. Thanks, Sasan.
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