Q4 2026 Intuit Inc Earnings Call Transcript
Key Points
- Intuit Inc (INTU) delivered solid fiscal 2026 results with total revenue growth of 14% and 20% growth in both GAAP and non-GAAP EPS.
- The company's Big Bets (assisted tax, money, and mid-market) collectively grew 34% and now represent 30% of total revenue, demonstrating strong momentum in key strategic areas.
- Mid-market revenue grew 39%, with Intuit Enterprise Suite annualized revenue surpassing $145 million in Q4, a 4x increase from the prior year, and new-to-franchise mid-market customers grew over 30%.
- Online money portfolio revenue grew 31%, and total online payment volume, including Bill Pay, grew 30% to over $225 billion, reflecting strong adoption of platform services.
- TurboTax Live revenue and customers grew 37% and 38%, respectively, and new-to-franchise customers in the assisted category grew 15%, indicating strong traction in the high-value assisted tax segment.
- The company is taking decisive actions to accelerate customer growth, including launching QuickBooks Free and QuickBooks Lite, which have already attracted over 20,000 active customers or conversions, and is investing in AI-native experiences to enhance customer value.
- Intuit Inc (INTU) is committed to returning capital to shareholders, with $5.5 billion in share repurchases in fiscal 2026 (up 96% year-over-year) and a 15% increase in the quarterly dividend.
- The company provided long-term guidance for GBS segment revenue growth of 10-15% CAGR and consumer segment growth of 4-8% CAGR, reflecting a focus on durable growth and market share expansion.
- Total online paying customers grew only 3% in fiscal 2026, a deceleration of about 2 points from the prior year, indicating slower new customer acquisition in the business segment.
- The company lost quality DIY tax customers to lower-cost providers, with price now the number 1 reason customers leave TurboTax, leading to a need to rebuild the DIY funnel.
- Fiscal 2027 revenue growth is expected to decelerate to 9-10%, down from 14% in fiscal 2026, due to deliberate actions to improve price-value in DIY tax and increased competition.
- TurboTax revenue growth is guided to only 2-3% in fiscal 2027, reflecting lower initial DIY ARPCs as the company accepts lower pricing to acquire and retain customers.
- Desktop Ecosystem revenue is expected to decline in the low single digits in fiscal 2027, as customers migrate to online offerings, impacting overall GBS growth.
- Mailchimp revenue is expected to be flat to down 1% in fiscal 2027, with increased churn partially offset by higher effective prices, indicating ongoing challenges in that segment.
- The company's long-term GBS growth guidance was lowered to 10-15% CAGR from previous expectations of 15-20%, reflecting a more prudent outlook on growth levers.
- Credit Karma revenue growth is expected to moderate to 11-13% in fiscal 2027, following strong growth in fiscal 2026, as the company takes a prudent stance on partner demand.
Good afternoon, ladies and gentlemen, my name is Bo, and I will be your conference operator today. At this time, I would like to welcome everyone to Intuit's fourth quarter and fiscal year 2026 conference call. (Operator Instructions)
With that, I'll now turn the call over to Ms. Kendra Goodenough, Intuit's Vice President of Investor Relations. Please go ahead, ma'am.
Good afternoon, and welcome to Intuit's fourth quarter fiscal 2026 conference call. I'm here with Intuit's CEO, Sasan Goodarzi; and our CFO, Sandeep Aujla. Before we start, I'd like to remind everyone that our remarks will include forward-looking statements. There are a number of factors that could cause Intuit's results to differ materially from our expectations. You can learn more about these risks in the press release we issued earlier this afternoon, our Form 10-K for fiscal 2025, and our other SEC filings.
All of these documents are available on the Investor Relations page of Intuit's
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