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.
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AUGUST 22, 2024 / 8:30PM, INTU.OQ - Q4 2024 Intuit Inc Earnings Call
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?
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AUGUST 22, 2024 / 8:30PM, INTU.OQ - Q4 2024 Intuit Inc Earnings Call
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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