Intuit Inc. · NASDAQ:INTU
Intuit — Shareholder Meeting (January 2022)
38 slides from Intuit's shareholder meeting presentation, Jan 20, 2022
Slide 1: Annual Shareholder Meeting, January 20, 2022
e A INTUIT = viturbotax quickbooks @ mint ck creditkarma ©@mailchimp Annual Shareholder Meeting Januar y 20, 2022
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. There are a number of factors that could cause our results to differ materially from our expectations. See the section entitled “Cautions about forward-looking statements” in the accompanying Appendix for information r
Slide 3: History of self-disruption and re-imagination
History of self-disruption and re-imagination ERA OF ERA OF : ERA OF ERA OF DOS : WINDOWS : WEB MOBILE AND CLOUD ws i) = & ww 2 <= x= 5 = E IPO Intuit Founded "Employees: 150 Employees: 4,500 Employees: 7,700 © Customers: 1.3M © Revenue: $33M “INTU: +1,000%, NASDAQ +500% © Customers: 5.6M. © Revenue
Slide 4: July 2010 July 2021 Jan 2010
July 2010 July 2021 Jan 2010 July 2021
Slide 5: Delivered strong financial results in FY'21
Delivered strong financial results in FY’21 GROWTH RATE ACTUAL PRIOR YEAR ACTUAL GUIDANCE Revenue $9,633 $7,679 25% 15-17% GAAP Operating Income $2,500 $2,176 15% 9-12% Non-GAAP Operating Income $3,485 $2,668 31% 12-14% GAAP Diluted EPS $7.56 $6.92 9% (21-23%) Non-GAAP Diluted EPS $9.74 $7.86 24% 4-
Slide 6: Strong performance continued in Q1'22
Strong performance continued in O1'22 Revenue GAAP Operating Income Non-GAAP Operating Income GAAP Diluted EPS Non-GAAP Diluted EPS Online Ecosystem Revenue ACTUAL +/-VS.Q1'21 GUIDANCE 2,007 $1,795 - $1,825 195 $0 - $15 555 $353 - $368 0.82 $0.14 -$0.19 1.53 $0.94 - $0.99 845 >30% over time $ in mil
Slide 7: What matters most to our customers
What matters most to our customers Consumer Problems Small Business & Self-Employed Problems Need Rank Need Rank Make Ends Meet 4 Get Customers 1 Maximize Tax Refund 2 Get Paid 2 Get Capital 3 Save More 3 Pay Workers 4 Pay Off Debt 4 Access Advice 5 DGS See © Be Compliant And Organized 6 Reduce My P
Slide 8: Key trends that can be a catalyst for growth
Key trends that can be a catalyst for growth Al Reinventing Digital — Mid-Market User Experiences Money Offerings Moving to Cloud Virtual : Online and Experiences i Omnichannel Commerce Intui. 8
Slide 9: Intuit's game plan to deliver for customers
Intuit’s game plan to deliver for customers rN y ... N YN Intult.
Slide 10: Intuit Mission: Powering Prosperity Around the World
Slide 11: Our Values
Our Values Integrity Without Compromise We speak the truth and assume best intent. We value trust above all else. We do the right thing, even when no one is looking. Courage We are bold and fearless in how we think and act. We relentlessly hold a high bar for performance. We value speed, a bias for
Slide 12: Bold 2025 Goals
Bold 2025 Goals Prosperity Double household savings rate and improve SMB success rate >10 pts vs. industry Reputation Best-in-Class of Most Reputable Companies Growt >200M customers, accelerating revenue growth Prosperity based on customers on intuit platform. US. average household savings rate is b
Slide 13: Bold 2025 Goals
Bold 2025 Goals FY'19 FY'20 FY'21 Double household savings rate and Household % ; 18% % . 2x avi 2a 2xav Prosperity improve SMB success rate Savings Rate! US. savings rate Usisavings rate US. savings rate >10 pts vs. industry SMB Success Rate 69% SMB 5-year survival rate ~50%" R Best-in-Class of Mos
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Slide 15: Intuit Strategy: AI-Driven Expert Platform
Intult. Intuit Strategy Al-Driven Expert Platform 15
Slide 16: Five Big Bets accelerating growth
Five Big Bets accelerating growth Intult. Revolutionize speed to benefit Connect people to experts Unlock smart money decisions Be the center of small business growth Disrupt the small business mid-market 16
Slide 17: Five Big Bets: Be the center of small business growth
Five Big Bets accelerating growth 4 Be the center of small business growth (5 Disrupt the small business mid-market Intult. 7
Slide 18: 2/3 25% 50% 50% 64% 60% 77% 84% 76%
2/3 25% 50% 50% 64% 60% 77% 84% 76%
Slide 19: The source of truth for your business
The source of truth for your business Provide an innovative platform for small and mid-market inesses to grow and run their business INTUIT Get customers Deepen business insights a Retain customers Pay employees Ln @aui kbook: ] , ; mailchimp quickbooks. Get capital Be.compliant and organized Get pa
Slide 20: Build an online presence and sell online with easy-to-use tools
Build an online presence and Create and send the right Centralize contact data and use Get insights to make it easy to sell online with easy-to-use messages on all the predictive insights to drive market better and smarter with each design and content tools right channels at exactly customer value a
Slide 21: Delivering an innovative customer growth platform
Delivering an innovative customer growth platform Accelerating vision to be the source of truth for small and mid-market businesses — B maitchimp @iiickbooks. Get your Market your Manage your customer Payments Human capital Accounting business online business relationships and expense management and
Slide 22: Mailchimp brings technology at scale and customer reach
Mailchimp brings technology at scale and customer reach Global customer engagement and digital marketing platform for growing small and mid-market businesses CORE COMPETENCIES total users Global* customer reach inteorat Data and technology stsegten Al-powered automation at scale contacts Intult. mon
Slide 23: Global leader in helping small businesses grow
Global leader in helping small businesses grow Large customer base and strong revenue growth total users monthly active users paid customers net promoter score* recurring revenue in CY20 revenue growth in CY20 revenue in CY20 revenue outside the U.S. Intult. Average of last 3 NP
Slide 24: Mission, values, 2025 goals and strategy
MISSION INTUIT. Powering Prosperity Around the World VALUES Integrity Without Compromise Courage Customer Obsession Stronger Together We Care and Give Back 2025 GOALS TRUE NORTH GOALS STRATEGY BIG BETS METRICS Prosperity Double household savings rate and improve SMB success rate > 10 pts vs. industr
Slide 25: Unique consumer and small business assets at scale
Unique consumer and small business assets at scale 8 M TOTAL ACTIVE CUSTOMERS $345B money movement 16M @ Worcs 1 in 5 SMB use QB Payroll $232B payroll volume TAX PROS fab 7) & PRO ADVISORS 30M ProConnect returns $51B in refunds Intult. ceLF-EMPLOYE, 1 3 M TOTAL USERS 2.4M Monthly Active Users 70B co
Slide 26: Our secret sauce, strategy, and assets create advantage
Our secret sauce, strategy, and assets create advantage Our strategy and assets Large, growing market accelerated by secular shifts aligned with our product strategy Strong customer relationships at scale with 102M customers engaging with us at critical moments of truth Multi-sided expert and partne
Slide 27: Our strategy and assets position us to penetrate our TAM
Our strategy and assets position us to penetrate our TAM os . a Large market growth opportunities, with a strategy to ‘@ mailchimp +$30B increase penetration and grow ARPC SS SEGMENT CUSTOMERS CUSTOMERS TAM $ TAM $64B $230B $260B SMALL BUSINESS 7M CORE ECOSYSTEM GLOBAL 75M SELF-EMPLOYED 1M CONSUMER
Slide 28: Our strategy is driving momentum
Our strategy is driving momentum Three big opportunities SEGMENT CUSTOMERS #TAM $TAM Grow the Core SMALL BUSINESS 7M ; : Consumer tax and SMB financial aR 75M 64B |°230B 52605 management software (FMS) in the U.S. SSPE I FMONAED) DIY and Assisted platforms (TurboTax and QuickBooks) CONSUMER 94M 240M
Slide 29: Our strategy is driving momentum
Our strategy is driving momentum Three big opportunities SEGMENT CUSTOMERS #TAM STAM Grow the Core SMALL BUSINESS 7M 7 A 75M $64B $230B Consumer tax and SMB financial 1M management software (FMS) in the U.S. SELF-EMPLOYED DIY and Assisted platforms (TurboTax and QuickBooks) CONSUMER 94M 240M Connect
Slide 30: Our strategy is driving momentum
Our strategy is driving momentum Three big opportunities SEGMENT CUSTOMERS #TAM $TAM Grow the Core SMALL BUSINESS 7M $ $ g Consumer tax and SMB financial aN 75M 64B $230B $260B management software (FMS) in the U.S. SELF-EMPLOYED DIY and Assisted platforms (TurboTax and QuickBooks) CONSUMER 94M 240M
Slide 31: Accelerating innovations across horizons
Accelerating innovations across horizons Near-term Medium-term QuickBooks Live QuickBooks Commerce QuickBooks Online FR, BR, ROW Longer-term Credit Karma Money Credit Karma in TurboTax platform TurboTax in Credit Karma platform Horizon 3 0+ MONTHS 18+ MONTHS 36+ MONTHS FUTURE intuit. 31
Slide 32: History of self-disruption and re-imagination
History of self-disruption and re-imagination : : ERA OF ERAOF = ERAOF | ERA OF - ERA OF ARTIFICIAL DOS » WINDOWS _ WEB : MOBILE AND CLOUD INTELLIGENCE wt Ss) = & im B <= x= & 3 e “IPO FUTURE IntuitFounded Employees: 150 © Employees: 4,500 Employees: 7,700 Employees: 13,500 © Customers: 1.3M. © Cust
Slide 33: Intuit Mission: Powering Prosperity Around the World
Slide 34: Appendix
Slide 35: About non-GAAP financial measures
About non-GAAP financial measures The accompanying presentation contains non-GAAP financial measures. Table 1 reconciles the non-GAAP financial measures in the presentation to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP).
Slide 36: About non-GAAP financial measures (cont.)
About non-GAAP financial measures (cont.) The following are descriptions of the items we exclude from our non-GAAP financial measures. Share-based compensation expenses. These consist of non-cash expenses for stock options, restricted stock units, and our Employee Stock Purchase Plan. When consideri
Slide 37: Non-GAAP reconciliation table
(Dollars in millions, except per share amounts) Q1 Q1 Fiscal Fiscal Fiscal 2022 Fiscal 2021 2021 2020 GAAP operating income $ 195 $ 209 $ 2,500 $ 2,176 Amortization of acquired technology 15 7 50 22 Amortization of other acquired intangible assets 53 2 146 6 Professional fees for business combinatio
Slide 38: Cautions about forward-looking statements
Cautions about forward-looking statements Except for historical or current facts, the content in this presentation contains forward-looking statements, which include expectations regarding our prospects for the business in fiscal 2022 and beyond; our growth outside the US; the timing and growth of r