Intuit Inc Q4 2025 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Siti Panigrahi - Mizuho Securities USA LLC - Analyst : Thank you. Sasan, that's a great into fiscal '25. Mainly, I want to focus on the small business that your global business grew 18% growth ex Mailchimp -- but as you look at fiscal '26, what are the areas you're more excited about? And what you learn in the fiscal '25 execution. And if I could add one more to this, there is concern about this lead generation with the slowdown in SEO search. I would love to hear your views in terms of what you're seeing your quick book business.

Question: Siti Panigrahi - Mizuho Securities USA LLC - Analyst : Thank you. Thanks for that color.

Question: Keith Weiss - Morgan Stanley & Co Ltd - Analyst : Excellent. Thank you, guys, for taking the question and congratulations on a really strong overall FY25, a lot of the pieces coming together. Looking forward into FY26. Really one question but in two parts. I think -- on one side of the equation, you guys released a lot of really interesting functionality with new agents a couple of weeks back what should our expectations be for monetization around those agents? Is it still too early? Or what should the time frame we should be thinking about those ramping up into the revenue base. And then on the other side of the equation, Mailchimp has been a drag through FY25, as on that part of the equation. But you guys sound really confident we're going to come back to double-digit growth any inklings you could give us on what's driving that confidence in getting that business back to a double-digit growth rate. So it's no longer a drag on this overall GBS revenues anymore.

Question: Keith Weiss - Morgan Stanley & Co Ltd - Analyst : Awesome. Thank you, guys.

Question: Kirk Materne - Evercore Inc - Analyst : I guess, for you, there's a lot of things going positively right now with Xtend, with some of the partners contributing just wondering, are there any cross currents out there that are offsetting that relative to what you would have thought maybe at the beginning of the year, obviously, tariffs with Europe. Just anything you could give us some context on because it seems like you have some really nice momentum in some of your our early stage.

Question: Arjun Bhatia - William Blair Capital Partners - Analyst : Yes. Perfect. Thank you so much. Sasan, for you on the -- some of the agentic capabilities and the AI that you're launching seems very interesting. I'm curious how you think about AI readiness amongst tribesmen already, but already are your customers to REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 21, 2025 / 8:30PM, INTU.OQ - Q4 2025 Intuit Inc Earnings Call implement these agents? And does that require some work on your end? Or is it fairly plug and play thinking through what we might expect in 2016 and 2017? Thank you.

Question: Arjun Bhatia - William Blair Capital Partners - Analyst : All right. Perfect. Very helpful. Thank you so much. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 21, 2025 / 8:30PM, INTU.OQ - Q4 2025 Intuit Inc Earnings Call

Question: Kirk Materne - Evercore Inc - Analyst : Yeah. Thanks, and sorry about earlier. Sasan, I was wondering if you could actually just talk a little bit about Credit Karma, Obviously, a fantastic year for that business. I think there's some concern, obviously, with that business that it can be potentially more cyclical than other parts of your business, but the double-digit guide for next year against what are very tough comps, seems to give some indication that you guys feel good about how that's operating. Just curious if you add a little bit more color to the confidence in the guide and maybe some of the new product lines there coming about to make that perhaps a little bit less cyclical than it was perhaps before you bought it in the early days. Thanks.

Question: Kirk Materne - Evercore Inc - Analyst : Super. Thanks, Sasan. Congrats on a great year.

Question: Taylor McGinnis - UBS AG - Analyst : Yeah. Hi. Thanks so much for taking my question. So if I look at the Global Solutions business performance Mailchimp was really strong in 4Q, and it looks like that was driven by an acceleration in online. So first, can you maybe talk through the drivers of that performance? And how durable you think some of those trends could be as we go into 2026. And then secondly, as we look ahead into the guidance, excluding MailChimp, it implies a little bit of a decel. So -- maybe you could just walk us through how we should think about the implied -- what that implies for desktop versus online and some of the assumptions there? Thank you.

Question: Taylor McGinnis - UBS AG - Analyst : Thank you so much. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 21, 2025 / 8:30PM, INTU.OQ - Q4 2025 Intuit Inc Earnings Call

Question: Brad Zelnick - Deutsche Bank AG - Analyst : I was on mute, you would think you'd -- that I'd figure that out by now. Can you maybe just help expand a little bit on improvements that underpin the confidence in the 15% to 20% TTL growth next year after such a fantastic year. Thanks.

Question: Brad Zelnick - Deutsche Bank AG - Analyst : Sasan was really helpful. And shame on me, I didn't speak very clearly. I actually meant to say TurboTax Live and I abbreviated at TTL, but that was still very helpful. Thank you.

Question: Brad Zelnick - Deutsche Bank AG - Analyst : Thank you, both. Really helpful.

Question: Kash Rangan - Goldman Sachs Group Inc - Analyst : Yeah. I'm with Brad, guys. I thought I had TurboTax, but I love the explanation for the QuickBooks Online though. But somewhat of a mundane topic, maybe back to essentials of how into it goes to market with its QuickBooks business. I think people have been a little apparent about AI searches overviews taking over from regular paid search, that thing. Can you give us a prime -- how is the go-to-market engine of QuickBooks and other products that do depend upon ads, Internet ads works in this new era? And how do you take advantage of -- or how do you make sure that you're not first at disadvantage? How do you take advantage of AI search taken over relative to normal paid search? Thank you so much.

Question: Kash Rangan - Goldman Sachs Group Inc - Analyst : Awesome. Thank you, Sandeep and Sasan. I'm so glad that I stuck my neck out a few weeks ago and investors asked me about this, I said, anybody working for Sasan will have figured this out. Otherwise, they will not catch up. So I'm so glad you're on top of it. Thank you so much.

Question: Steven Enders - Citi Infrastructure Investments LLC - Analyst : Okay. Great. Thanks for taking the question. I guess I just want to ask on just maybe SMB Health and maybe what you're seeing out there from a macro perspective. Have you seen any change in terms of how -- what you're seeing from that perspective, either in your underlying data or from customers coming through? Just maybe what have you seen from a deal environment perspective? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 21, 2025 / 8:30PM, INTU.OQ - Q4 2025 Intuit Inc Earnings Call

Question: Steven Enders - Citi Infrastructure Investments LLC - Analyst : Okay. Perfect. Thanks for taking the question.

Question: Alex Zukin - Wolfe Research LLC - Analyst : Congrats, Sasan. Maybe for you, following up on the prior question about just the general macro picture for your customer base. If you think about how over the course of the next 12 to 18 months, you think about all of the functionality in the products and as well as in the AI functionality, starting to mix shift your customers with a more simplistic yet holistic offering into higher tiers of service. How much is it -- how how much push is it versus pull? How does the Agentic functionality unlock that opportunity for you? And it seems like there's an opportunity, at least signal with AI search yielding better and in-app selling and cross-selling also driving more efficiency in the go-to-market process to also do that in a more margin positive way. So maybe just comment on both of those aspects if you can.

Question: Alex Zukin - Wolfe Research LLC - Analyst : Sounds like ERP for the SMB, and it's working.

Question: Brad Sills - Bofa Merrill Lynch Asset Holdings Inc - Analyst : Great. Thank you so much. I wanted to ask a question around the AI platform, maybe a little different angle. You've had the invoice generator out for quite some time, but I would love to hear about any traction you're seeing there and how that's performing? And could that be a leading indicator perhaps for other agents that might be coming over time?

Question: Brad Sills - Bofa Merrill Lynch Asset Holdings Inc - Analyst : Thank you, Sasan.

Question: Brent Thill - Jefferies LLC - Analyst : Sasan, the playbook to get Mailchimp back to growth, how do you think about this? What's what's the most important thing? I know you mentioned the user interface was a little too complicated for SMBs to use. How much longer is this going to take to get you back to growth in that business?

Question: Brent Thill - Jefferies LLC - Analyst : Great. Thanks.