Intuit Inc. · NASDAQ:INTU
Intuit — Investor Day (September 2022)
152 slides from Intuit's investor day presentation, September 2022
Slide 1: Investor Day 2022
INVESTOR DAY 2022 September 2022
Slide 2: Kim Watkins
Kim Watkins
Slide 3: Agenda
Agenda Welcome Kim Watkins — VP, Investor Relations Company growth strategy Sasan Goodarzi — CEO BREAK Platform Immersion Experience Senior leaders BREAK Technology fueling innovation Marianna Tessel — EVP and CTO Small Business & Self-Employed Group Alex Chriss — EVP and GM, Small Business & Self-E
Slide 4: Forward looking statements; Non-GAAP financial measures
Forward looking statements These presentation materials include forward-looking statements. There are a number of factors that could cause our results to differ materially from our expectations. Please see the section entitled “Cautions about forward-looking statements” in the enclosed Appendix for
Slide 5: Platform Immersion Experience (PIE)
Platform Immersion Experience (PIE) MARK NOTARAINNI LANCE WILLIAMS Big Bet 2 EVP and Chief Customer Success Officer SVP, Product Management Intuit TurboTax Global Platform JOE KAUFFMAN POULOMI DAMANY Big Bet 3 President SVP and GM Credit Karma Credit Karma Money and Tax RANIA SUCCAR JON FASOLI Big B
Slide 6: Sasan Goodarzi
Sasan Goodarzi
Slide 7: History of self-disruption and reimagination
History of self-disruption and reimagination ERA OF ERA OF ERA OF ERA OF ERA OF MOBILE AND ARTIFICIAL DOS WINDOWS WEB CLOUD INTELLIGENCE INTU SHARE PRICE Refreshed Big Bets Declared Bold 2025 Goals, Refreshed Strategy, and Big Bets Accelerating platform innovation Refreshed values and True North Goa
Slide 8: Solid track record in delivering for each stakeholder
Solid track record in delivering for each stakeholder CULTURE AND REPUTATION Fortune | Bloomberg | Forbes | Human Rights Campaign Fortune 100 Best Companies 2015–2022 2002 2022 CUSTOMER GROWTH 103M STOCK PERFORMANCE INTUIT 1,400% NASDAQ 450% 29M S&P 500 300% July 2010 July 2022 Jan 2010 July 2022 8
Slide 9: Delivered strong financial results in FY22
Delivered strong financial results in FY22 GROWTH RATE INITIAL GUIDANCE AFTER ACTUAL PRIOR YEAR ACTUAL MAILCHIMP CLOSE Revenue $12,726 $9,633 32% 26%–28% GAAP operating income $2,571 $2,500 3% (2%)–0% Non-GAAP operating income $4,504 $3,485 29% 25%–27% GAAP diluted EPS $7.28 $7.56 (4%) (7%–5%) Non-G
Slide 10: FY22 reflections
FY22 reflections Progress made PERFORMANCE DRIVERS Progress needed Strong culture, attracting great talent EMPLOYEES Connectedness, DEI, internal mobility Growing active customers, retention CUSTOMERS Day 1 mindset – courage & customer obsession ` Job creation & readiness, carbon positive COMMUNITY
Slide 11: 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 1 Get customers 1 Get paid 2 Maximize tax refund 2 Get capital 3 Save more 3 Pay workers 4 Pay off debt 4 Access advice 5 Know where I stand 5 Be compliant and organized 6
Slide 12: Three secular shifts powered by data and technology
Three secular shifts powered by data and technology Online and Virtual Omnichannel Digital Experiences Commerce Money Offerings POWERED BY: DATA & AI | CRYPTO | METAVERSE 12
Slide 13: We have a large TAM
We have a large TAM INCREASING PENETRATION AND GROWING SHARE OF WALLET GROW THE CORE Consumer & Business Tax and SMB Financial Management Software (FMS) in the US $81B DIY and Assisted platforms (TurboTax and QuickBooks) GROW THE CORE • $39B US FMS opportunity, including $22B from connecting SMBs to
Slide 14: $312B TAM with low penetration
$312B TAM with low penetration ($ in billions) PCG: CG: $37B TAM $2B TAM CK: $85B TAM SBSEG: $188B TAM $57 $53 TAM Intuit revenue $32 $27 $28 $28 $27 $21 $19 $10 $4 $4 $2 Consumer Tax: Business Accountant Consumer Consumer Payments Marketing Accounting/ Capital Accounting/ Payroll Commerce Banking D
Slide 15: Intuit's game plan to deliver for customers
Intuit’s game plan to deliver for customers MISSION VALUES 2025 GOALS TRUE NORTH GOALS STRATEGY BIG BETS METRICS 15
Slide 16: Powering Prosperity Around the World
MISSION Powering Prosperity Around the World 16
Slide 17: Our values
Our values Integrity Without Customer Stronger We Care and Compromise Courage Obsession Together Give Back We speak the truth and We are bold and fearless We fall in love with our We champion We are stewards assume best intent. in how we think and act. customers’ problems. diversity, inclusion, and
Slide 18: Bold 2025 Goals
Bold 2025 Goals Prosperity Double household savings rate and improve SMB success rate >10 points vs. industry Reputation Best-in-Class of Most Reputable Companies Growth 200M+ customers, accelerating revenue growth Prosperity based on customers on Intuit’s platform. US average household savings rate
Slide 19: True North Goals
True North Goals Deliver best-we-can-be results in the current period for each key stakeholder while building the foundation for an even stronger future Employees Customers Communities Shareholders Empower the world’s top talent Delight customers by solving Make a difference in Drive long-term growt
Slide 20: Intuit strategy
Intuit strategy More Money No Work Complete Confidence AI-Driven Expert Platform 20
Slide 21: Refreshed five Big Bets accelerate innovation
Refreshed five Big Bets accelerate innovation 1 Revolutionize speed to benefit 2 Connect people to experts 3 Unlock smart money decisions 4 Be the center of small business growth 5 Disrupt the small business mid-market 21
Slide 22: Intuit's platform that powers prosperity
Intuit’s platform that powers prosperity More Money No Work Complete Confidence AI-Driven Expert Platform 22
Slide 23: Intuit's platform that powers prosperity
Intuit’s platform that powers prosperity Grow Business Get Paid Payments Pay Bills 10M 93M Capital Get Loans Cash Mgmt. Insurance Small businesses Consumers and self-employed Payroll Save More Money Time Tracking Spend No Work Accounting Complete Confidence Taxes Customers AI-Driven Expert Platform
Slide 24: Intuit's platform that powers prosperity
Intuit’s platform that powers prosperity Grow Business Get Paid Payments Pay Bills 58B Capital Get Loans 55K Machine learning Tax and financial predictions per day Cash Mgmt. Insurance attributes per consumer Payroll Save 400K Time Tracking More Money No Work Spend 730M Customer/financial AI-driven
Slide 25: Intuit's platform that powers prosperity
Intuit’s platform that powers prosperity Grow Business Get Paid Payments Pay Bills $2.0T Capital Get Loans $113B Invoices managed on Consumer tax refunds on our platform per year Cash Mgmt. Insurance our platform per year Payroll Save $270B Time Tracking More Money No Work Spend $8.4T US SMB payroll
Slide 26: Intuit's platform that powers prosperity
Intuit’s platform that powers prosperity Grow Business Get Paid 10M Small businesses 93M Consumers Payments Pay Bills Machine learning Tax and financial 58B predictions per day Capital Get Loans 55K attributes per consumer Customer/financial AI-driven customer 400K attributes per SMB Cash Mgmt. Insu
Slide 27: Our strategy and assets create growth flywheel
Our strategy and assets create growth flywheel OUR STRATEGY AND ASSETS DRIVE GROWTH AND STRENGTHEN OUR DURABLE ADVANTAGE Large, growing market accelerated by secular shifts aligned with our product strategy Better products More and services customers Strong customer relationships at scale with 100M+
Slide 28: Our strategy is driving momentum
Our strategy is driving momentum GROW THE CORE $81B Consumer & Business Tax and SMB Financial Management Software (FMS) in the US GROW THE CORE DIY and Assisted platforms (TurboTax and QuickBooks) QUICKBOOKS ONLINE GROWTH QUICKBOOKS ONLINE ADVANCED $253B +11% +34% +40% +95% CONNECT THE ECOSYSTEM Sub
Slide 29: Our strategy is driving momentum
Our strategy is driving momentum CONNECT THE ECOSYSTEM $81B Platform solutions beyond Tax and FMS for consumers and SMBs in the US GROW THE CORE Connected platform solutions for SMBs and consumers CREDIT KARMA PAYROLL $253B 129M +54% +3x 17.6M $270B CONNECT THE ECOSYSTEM Matched Increase in average
Slide 30: Our strategy is driving momentum
Our strategy is driving momentum EXPAND GLOBALLY $81B International markets outside of the US Core and Ecosystem solutions for SMBs (Canada, UK, and Australia) GROW THE CORE and Consumer Tax (Canada) INCREASING MONETIZATION MAILCHIMP CA, UK, AU $253B +30% >50% +65% CONNECT THE ECOSYSTEM Online inter
Slide 31: Accelerating innovations across horizons
Accelerating innovations across horizons EXPECTED CONTRIBUTIONS FROM INNOVATIONS QuickBooks Platform QuickBooks Payroll US and QuickBooks Time QuickBooks Payments US Near term Mailchimp TurboTax Platform (DIY and Live) Credit Karma credit cards and personal loans QuickBooks Online Advanced and Mailc
Slide 32: CDI and D4D: Execution excellence secret sauce #1
CDI and D4D: Execution excellence secret sauce #1 An important, …that we, unsolved and those we Deep customer customer enable, can empathy problem solve well SUCCESS Go broad to IS DELIGHT go narrow HERE …and build durable competitive advantage Rapid experiments with customers CUSTOMER-DRIVEN INNOVA
Slide 33: Intuit's operating system: Execution excellence secret sauce #2
Intuit’s operating system: Execution excellence secret sauce #2 6 year plan (December) One Intuit Forum 3 year plan (8x Year) (May) Intuit Org & Leadership Talent Conference Review (Yearly) Intuit (Quarterly) Operating State of the Company System CEO Staff (Monthly) (Quarterly) Business Big Bet and
Slide 34: We're always reimagining the future to accelerate innovation
We’re always reimagining the future to accelerate innovation FY22 FY Refreshed Big Bets 19–21 Revenue +32% YoY (24% excluding Mailchimp) Declared 5 Big Bets Pre- Revenue +13%–25% YoY2 FY19 Era of mobile and the cloud Revenue +10%–15% YoY1 1. Revenue growth range for FY16, FY17 and FY18 under ASC 605
Slide 35: Intuit opportunities and risks
Intuit opportunities and risks Opportunities Risks • Becoming the source of truth for SMBs • Creating a culture of speed • Digitizing payments—B2C and B2B • Incorporating crypto to deliver customer benefit • Becoming an everyday consumer platform • International becoming a growth driver • Disrupting
Slide 36: Powering Prosperity Around the World
MISSION Powering Prosperity Around the World VALUES Integrity Without Compromise Courage Customer Obsession Stronger Together We Care and Give Back Prosperity Reputation Growth 2025 Double household savings rate and improve SMB Best-in-class of Most >200M customers, accelerating GOALS success rate >
Slide 37: Powering Prosperity Around the World
MISSION Powering Prosperity Around the World 37
Slide 38: Marianna Tessel
Marianna Tessel
Slide 39: 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 1 Get customers 1 Get paid 2 Maximize tax refund 2 Get capital 3 Save more 3 Pay workers 4 Pay off debt 4 Access advice 5 Know where I stand 5 Be compliant and organized 6
Slide 40: Our tech strategy is driven by our 2025 Goals and Big Bets
Our tech strategy is driven by our 2025 Goals and Big Bets 6-YEAR GOALS TRUE NORTH GOALS BIG BETS 40
Slide 41: Intuit strategy
Intuit strategy More Money No Work Complete Confidence AI-Driven Expert Platform 41
Slide 42: Our priorities accelerate innovation and development velocity
Our priorities accelerate innovation and development velocity 1 2 3 Delight our customers Power our vision Accelerate our work through product and with world-class Intuit with a modern Intuit operational excellence Platform capabilities development environment We deliver high-quality products, We de
Slide 43: Our platform is represented by our City Map
Our platform is represented by our City Map Clarity and alignment: We describe the key capabilities we have or need across our platform, providing clarity and focusing on developing one set of world-class capabilities. We created Accountability and ownership: We continue to drive accountability and
Slide 44: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 45: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 46: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 47: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 48: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 49: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 50: Platform Applications Workforce
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 51: Platform Applications
Platform Applications QuickBooksQuickBooks Mailchimp Mailchimp TurboTax TurboTax Credit Karma Credit Karma ProTax ProTax Development Portals Development Portals QBO QBSE Credit EasyAcct QBO QBSE Easy Extension Credit EasyAcct QBDT QB Time Easy Extension Lacerte QBDT QB Time Marketing Lacerte Externa
Slide 52: Our platform is fueling innovation
Platform Applications QuickBooksQuickBooks Mailchimp Mailchimp TurboTax TurboTax Credit Karma Credit Karma ProTax ProTax Development Portals Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QBTime Marketing Platform Lacerte External Developer Portal Auto QBCommerce QBOP ItsDeductible
Slide 53: A closer look at some capabilities that are core to Intuit
A closer look at some capabilities that are core to Intuit 1 2 3 4 5 Development AI Data Fintech Identity environment infrastructure integration infrastructure 53
Slide 54: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 55: Development environment enables speed and innovation
Development environment enables speed and innovation WE ARE FASTER WITH OUR MODERN DEVELOPMENT ENVIRONMENT DEVELOPMENT ENVIRONMENT AND FOCUS CAPABILITY AT SCALE ON CREATING SELF-SERVE CAPABILITIES 6x increase in development productivity since FY20 100% ~1M DEVELOPMENT of services on active CPU cores
Slide 56: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 57: We deliver smarter products through Artificial Intelligence
We deliver smarter products through Artificial Intelligence AI INFRASTRUCTURE CAPABILITY AT SCALE MATCH EVERY CUSTOMER WITH THE RIGHT EXPERT AI INFRASTRUCTURE 58B 730M machine learning AI-driven customer Machine learning, predictions per day interactions per year ~1-hour reduction in knowledge custo
Slide 58: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 59: We effortlessly import customer data from providers
We effortlessly import customer data from providers DATA INTEGRATION CAPABILITY AT SCALE FIRST-IN-MARKET CRYPTO TAX SOLUTION DATA INTEGRATION 24K 50+ 41 financial crypto countries Bidirectional data institutions providers exchange that 1.7M crypto tax imports enabled by data import facilitates the c
Slide 60: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 61: We give customers fast access to money
We give customers fast access to money FINTECH INFRASTRUCTURE CAPABILITY AT SCALE REDUCING SMB CASH FLOW CHALLENGES FINTECH INFRASTRUCTURE $2.0T $465B invoices managed money moved AI-enabled Get Paid on our platform Upfront1 offering allows E2E customer per year experience customers to draw money as
Slide 62: Platform Applications Capabilities
Platform Applications QuickBooks Mailchimp TurboTax Credit Karma ProTax Development Portals QBO QBSE Credit EasyAcct Easy Extension QBDT QB Time Marketing Lacerte External Developer Portal Auto QB Commerce QBO Payroll ItsDeductible ProConnect Tax Online Money by QB Workforce Loan ProFile QB Live QBO
Slide 63: We seamlessly connect customers to product experiences
We seamlessly connect customers to product experiences OUR IDENTITY CAPABILITY CONNECTS CUSTOMERS IDENTITY CAPABILITY AT SCALE ACROSS PRODUCTS UNLOCKING NEW VALUE QUICKLY IDENTITY 400K 55K Customer/financial tax and financial We seamlessly connected Uniquely identify attributes per SMB attributes pe
Slide 64: Our platform accelerates our acquisitions
Our platform accelerates our acquisitions Exchanging data through Data Bridge: Enabled Intuit and its extended Our acquisition ecosystem to securely move data in real time, powering personalized, data-driven, and seamless experiences. More than 5 billion data elements approach focuses transferred vi
Slide 65: Key takeaways
Key takeaways Our platform enables us to innovate for our customers with speed at scale OUR CORE PLATFORM CAPABILITIES ARE A SIGNIFICANT ADVANTAGE THAT FUELS GROWTH We have the building blocks to rapidly create solutions for our customers’ most important financial problems. WITH OUR FLYWHEEL OF INNO
Slide 66: Alex Chriss
Alex Chriss
Slide 67: Powering Prosperity Around the World
MISSION Powering Prosperity Around the World 67
Slide 68: We remain guided by our customers' key problems
We remain guided by our customers’ key problems CONSUMER PROBLEMS SMALL BUSINESS & SELF-EMPLOYED PROBLEMS Need Rank Need Rank Make ends meet 1 Get customers 1 Get paid 2 Maximize tax refund 2 Get capital 3 Save more 3 Pay workers 4 Pay off debt 4 Access advice 5 Know where I stand 5 Be compliant and
Slide 69: Our global opportunity remains large across a $188B TAM
Our global opportunity remains large across a $188B TAM Solving top customer problems end-to-end with a robust ecosystem of at-scale offerings 1 GET CUSTOMERS 2 GET PAID 3 GET CAPITAL 4 PAY WORKERS 5 ACCESS ADVICE 6 BE COMPLIANT TAM $32B $61B $21B $19B $28B $27B Mailchimp Invoicing Banking1 Term Loa
Slide 70: Well positioned to address key small business needs
We are well positioned to address key small business needs with our data-advantaged, connected ecosystem CUSTOMER SEGMENTS NEEDS SERVED BY OUR PLATFORM GET CUSTOMERS ENTER- PRISE 100+ ACCESS ADVICE GET PAID MID-MARKET 10–100 employees BE COMPLIANT GET CAPITAL SMALL BUSINESS & ORGANIZED 0–9 employees
Slide 71: Delivering for our customers drove outstanding FY22 results
Delivering for our customers drove outstanding FY22 results Small business is growing rapidly at scale across the ecosystem CUSTOMERS 7.1M 5.9M 165K 2.4M Online paying customers QBO subscribers, QBO Advanced Mailchimp monthly (QBO + Standalone Services1 +11% YoY subscribers, +40% YoY active users +
Slide 72: Small business base evolution
Robust suite of online offerings driving Small business base evolution small business growth • Successfully solving customers’ top problems through our leading online platform with FROM PREDOMINANTLY DESKTOP SOFTWARE TO A CLOUD offerings spanning Mailchimp, Money Portfolio, ECOSYSTEM AND A SUBSCRIPT
Slide 73: Growth formula remains durable with addition of Mailchimp
Growth formula remains durable with addition of Mailchimp Updating customer and ARPC definition to include QBO, Standalone Services, and Mailchimp paying customers PRIOR TO FY23 CUSTOMERS ARPC QBO subscribers Online ecosystem revenue1 ÷ QBO subscribers FY23 AND BEYOND CUSTOMERS QBO subscribers + Sta
Slide 74: Scaling our online customer base
Scaling our online customer base FY22 ONLINE PAYING CUSTOMER BASES 7.1M Becoming the source of truth for 1 +24% more small businesses 5.9M • QBO subscribers up 11% in FY22, fueled by 80% retention and by 40% growth in QBO Advanced as we meet more mid-market needs • Mailchimp acquisition added 0.8M p
Slide 75: Driving strong ARPC across customers
Driving strong ARPC across customers FY22 INDIVIDUAL ARPCs FY22 ONLINE PAYING ARPC $1,237 ARPC growth bolstered by ecosystem services • QBO ecosystem ARPC up 24% in FY22 driven by: $832 $692 ○ Online accounting ARPC growth of 20% from +37%1 higher effective prices and QBO Advanced mix $604 ○ Online
Slide 76: 38% total revenue growth (22% excl. Mailchimp) in FY22
38% total revenue growth Strong momentum online across all (22% excl. Mailchimp) in FY22 3 strategic pillars Grow the core • 33% YoY worldwide Online accounting (QBO, QBO REVENUE GROWTH Advanced, QB Live) revenue growth $6.5B 38% YoY • QBO Advanced customers grew 40% and QB Live customers grew 55% a
Slide 77: Small business and self-employed strategy
Small business and self-employed strategy Grow Connect Expand the core the ecosystem globally Grow and transform the Financial Connect customers to benefits Expand our platform to win in Management Software category in across the platform geographies outside the US. the US through innovation and mee
Slide 78: Grow the core: QuickBooks Live
Grow the core Big Bet 2: Connect people to experts QUICKBOOKS LIVE VISION We are the leading virtual expert platform, connecting people to experts. QB LIVE HUB We help build confidence for people at moments of truth as they seek financial and business expertise by allowing them to easily connect and
Slide 79: Grow the core: QuickBooks Online Advanced
Grow the core Big Bet 5: Disrupt the small business mid-market QUICKBOOKS ONLINE ADVANCED VISION QBO ADVANCED We offer an integrated ecosystem of tools for mid-market businesses, with SPEND DASHBOARD QBO Advanced at the core. We let customers create a solution that works for their unique needs throu
Slide 80: Connect the ecosystem: Money Portfolio
Connect the ecosystem Big Bet 4: Be the center of small business growth MONEY PORTFOLIO VISION CASHFLOW We put small businesses in complete control of their money by becoming the platform of choice for money movement and money management. We PLANNER provide easy receivables and payables, instant low
Slide 81: Connect the ecosystem: Workforce Solutions
Connect the ecosystem Big Bet 4: Be the center of small business growth EMPLOYEE APP WORKFORCE SOLUTIONS1 BENEFITS VISION We power prosperity for employers and their teams by reimagining how they work and grow. We eliminate the administrative burden of people management with a scalable, integrated s
Slide 82: Connect the ecosystem: Mailchimp
Connect the ecosystem Big Bet 4: Be the center of small business growth MAILCHIMP GETTING CUSTOMERS IS THE #1 CHALLENGE THAT SMBS FACE #1 priority for SMBs is increasing online sales and #2 is improving marketing results 77% of small and mid-market businesses have not adopted a formal CRM despite th
Slide 83: Connect the ecosystem: Mailchimp priorities
Connect the ecosystem Big Bet 4: Be the center of small business growth MAILCHIMP BECOME AN END-TO-END CUSTOMER GROWTH PLATFORM Continue improving Mailchimp features while integrating Mailchimp and QuickBooks ● Connect QuickBooks and Mailchimp data to create one platform experience Mailchimp priorit
Slide 84: Expand globally
Expand globally Refreshing our strategy: Mailchimp expanding addressable market and accelerating global growth WHAT WE HAVE LEARNED WHAT IS CHANGING FINANCIAL MANAGEMENT SOFTWARE (FMS) REQUIRES QBO + MAILCHIMP IN OUR ESTABLISHED MARKETS PRECISE LOCALIZATION, COMPLICATING GLOBAL SCALABILITY (Canada,
Slide 85: Our ecosystem is well positioned to solve E2E needs
Our ecosystem is well positioned to solve E2E needs Breadth of our connected ecosystem allows us to address all key problems small and midsize businesses face 1 GET CUSTOMERS 2 GET PAID 3 GET CAPITAL 4 PAY WORKERS 5 ACCESS ADVICE 6 BE COMPLIANT Full suite of money in/money Superior risk models E2E g
Slide 86: Solving small businesses' #1 problem of getting customers
Solving small businesses’ #1 problem of getting customers 360-degree view of customer and order data positions us well to help small businesses grow efficiently 1 GET CUSTOMERS 2 GET PAID 3 GET CAPITAL 4 PAY WORKERS 5 ACCESS ADVICE 6 BE COMPLIANT Reach new audiences Manage money in and Capital is av
Slide 87: Leveraging differentiated data to solve cash flow
Leveraging differentiated data to solve cash flow Comprehensive cash management solutions eliminate the anxiety of uneven cash flow 1 GET CUSTOMERS 2 GET PAID 3 GET CAPITAL 4 PAY WORKERS 5 ACCESS ADVICE 6 BE COMPLIANT Reach new audiences Manage money in and Capital is available at and nurture existi
Slide 88: Scaling with small businesses into the mid-market
Scaling with small businesses into the mid-market Customizable ecosystem solutions help growing businesses address their increasingly complex needs 1 GET CUSTOMERS 2 GET PAID 3 GET CAPITAL 4 PAY WORKERS 5 ACCESS ADVICE 6 BE COMPLIANT QBO Advanced Full suite of benefits QB Live helps automated workfl
Slide 89: Key takeaways
Key takeaways We are successfully executing our strategy and have high confidence in the runway ahead DURABLE STRATEGY Strategy and approach remain durable and grounded in customers’ needs BUSINESS MODEL TRANSFORMED Cloud and subscription are the de facto choice for SMBs; connected ecosystem driving
Slide 90: Execution of our strategy creates a path to robust, long-term growth
Execution of our strategy creates a path to robust, long-term growth REVENUE GROWTH DRIVERS GROWTH DRIVERS MULTIYEAR RANGE LONG-TERM Online paying customers Online paying ARPC 10%–20% 10%–20% EXPECTATION SMALL BUSINESS & 15%–20% ANNUAL REVENUE GROWTH SELF-EMPLOYED GROUP 90
Slide 91: Varun Krishna
Varun Krishna
Slide 92: Solid financial performance
Solid financial performance In less than 5 years, TurboTax Live has become a $1.0B business and accelerated our future Consumer Group 10% FY22 Consumer Group TurboTax Live $3.9B revenue revenue growth TurboTax Online DIY Desktop, Retail & Other +30% TurboTax Live revenue growth +22% Investor and sel
Slide 93: US tax industry landscape
US tax industry landscape Assisted tax category remains the largest opportunity 10-YEAR US TAX INDUSTRY TRENDS 10-YR Returns (M) CAGR +1.1% Industry dynamics over time TOTAL IRS • Industry has grown at ~1% per year on average even with the 3-year COVID period +0.6% CPA/Pro • DIY category has grown f
Slide 94: Season scorecard
Season scorecard Our focus is growing share of total IRS returns 3-YEAR LAST CAGR1 SEASON1 Performance reflections IRS returns +2% ~(1%) • Gained share of total IRS returns last season despite decline in IRS and DIY categories. • Transforming the assisted category DIY share of IRS returns +0.5 pts ~
Slide 95: TurboTax US average revenue per return
TurboTax US average revenue per return Healthy growth in ARPR as we transform the assisted category and win with underpenetrated segments 4% Paying ARPR growth YoY $109 $105 • 17% total avg revenue per return growth1 Total ARPR $97 $89 • 9% TurboTax Online paying customer growth Paying ARPR $80 $79
Slide 96: TurboTax Online US acquisition funnel
TurboTax Online US acquisition funnel Opportunities to address low-hanging fruit and accelerate penetration of assisted category FY21 FY22 YoY OPPORTUNITIES Expecting return to more normal TOTAL IRS RETURNS1 164M 163M -1% trends after prior year’s contraction Big opportunity to persuade TRAFFIC 127M
Slide 97: Opportunity for TAM expansion
Opportunity for TAM expansion Deepening our focus on assisted tax and business taxes TOTAL ADDRESSABLE MARKET (TAX) Opportunities • 88M consumers use assisted tax preparation CONSUMER BUSINESS ASSISTED methods every year TAX1 $21.4B $9.5B • 10M customer churn within the assisted category to another
Slide 98: Key customer segments
Key customer segments Sizable population of underserved assisted customers, with big unsolved problems we can address Life events Investor Self-employed Tax stores 61M DIY: 30M Assisted: 31M 30M DIY: 9M Assisted: 21M 29M DIY: 9M Assisted: 20M 15M DIY: 0M Assisted: 15M MINDSET MINDSET MINDSET MINDSET
Slide 99: Season learnings informing our refreshed strategy
Season learnings informing our refreshed strategy Accelerating customer and revenue growth through innovation and TAM expansion 1 2 3 4 68M assisted filers We lose 17M 3M users leave after 10M customers don’t are open to a digital prospects in our top completing tax prep, return the next year, platf
Slide 100: TurboTax vision: Ease, Confidence, Money
TURBOTAX VISION EASE CONFIDENCE MONEY 100 100
Slide 101: TurboTax strategy
TurboTax strategy Persuade Delight Accelerate Captivating tax and money value Easy, accurate, intuitive. Infused with Always on, data-rich, and props that compel assisted filers to expertise and instant access to money, hyperpersonalized global technology make the switch to TurboTax. to grow with cu
Slide 102: Key priorities
Key priorities Disruptive go-to-market focused on assisted filers Persuade New and improved onboarding Faster refund access Simplified lineup New customer channels and partnerships Easy, accurate, and intuitive experiences infused with expertise Delight Underpenetrated segments Win customer loyalty
Slide 103: Persuade
Persuade Disruptive go-to-market focused on prior-year assisted filers Opportunity 58M TurboTax visitors who only view a single page 17M TurboTax visitors view 2+ pages and then drop 10M assisted customers switching providers yearly 90%+ aided awareness in season New experiences ★ Transformative go-
Slide 104: Delight
Delight Easy, accurate, and intuitive experiences infused with expertise Opportunity $10B business tax TAM 20M+ gig workers receiving their first 1099-K $104B generated in income by SE creators 17% of Americans own cryptocurrency New experiences ★ Improved mobile doc capture ★ Streamlined 1099 SE ex
Slide 105: Accelerate
Accelerate Always on, data-rich, hyperpersonalized global technology platform Opportunity 60%+ of tax customers with credit scores $113B tax refunds processed 55K tax and financial attributes per consumer 52% of traffic is on mobile devices Platform innovation ★ 24K connected financial institutions
Slide 106: Path to robust, long-term growth in the Consumer Group
Execution of our strategy creates a path to robust, long-term growth in the Consumer Group REVENUE GROWTH DRIVERS 1 PT OF GROWTH MULTIYEAR GROWTH DRIVERS YIELDS REVENUE OF RANGE LONG-TERM 8%–12% IRS returns ~1% 0–2% DIY category share ~2.5% 2–4% EXPECTATION ANNUAL REVENUE GROWTH CONSUMER GROUP Total
Slide 107: Kenneth Lin
Kenneth Lin
Slide 108: Delivered strong financial results in FY22
Delivered strong financial results in FY22 COVID uncertainty led to strong FY20 FY21 FY22 increases in both member engagement and frequency. Members 112M 121M 129M Lightbox is differentiating what Credit Karma can do for members in the credit card Average monthly active users (MAUs) 39M 41M 42M and
Slide 109: Our members face real financial problems
Our members face real financial problems Many Americans function with a poor working knowledge of common financial situations1 LIVING AND EMERGENCIES INFLATION AND WAGES MONEY AND MENTAL HEALTH 77% Americans report feeling ~50% Americans are falling deeper 68% Americans worry about anxious about the
Slide 110: Credit Karma vision
Credit Karma vision Be a comprehensive, self-driving financial platform that propels our members forward wherever they are on their financial journey. So our members can: • Understand their financial picture • Make smart financial decisions • Stick to their financial plan in the near term and long t
Slide 111: Credit Karma data ecosystem creates differentiation
Credit Karma data ecosystem creates differentiation Credit Karma connects financial data that financial institutions use for underwriting and more, allowing members to compare products and pricing with low friction and high certainty. (AI Recommendation Engine, Easy Apply, Lightbox) • Strong engagem
Slide 112: A differentiated AI platform built on trust, scale, and engagement
A differentiated AI platform built on trust, scale, and engagement, creating powerful network effects 129M members in the Together with Intuit, connections Scale Large customer base US, Canada, and UK to over 24K financial institutions Trust and Trusted brand with 42M MAUs with an average of 70 PRS
Slide 113: Lightbox is a key differentiator
Lightbox is a key differentiator Lightbox and the new Karma Guarantee provide more certainty to members and partners by delivering sets of recommendations for personal loans and credit cards, personalized for members. In FY23, as we deploy Lightbox technology to accelerate new verticals, we also exp
Slide 114: Lightbox unlocks value for members, partners, and Credit Karma
Lightbox unlocks value for members, partners, and Credit Karma WHY AND HOW BENEFITS CUSTOMER PROBLEM: Consumers suffer from a lack MEMBERS receive sets of personalized of certainty, transparency, and simplicity in financial recommendations for products from a variety services, especially when applyi
Slide 115: Credit Karma strategy
Credit Karma strategy Grow Expand Develop Core business Growth verticals Emerging verticals Grow the core business, including Expand growth verticals, including Develop emerging verticals, credit cards and personal loans, mortgages, home equity lines of focused on money innovation by leveraging Ligh
Slide 116: Grow core business
Grow core business Leverage Lightbox to grow the core business, which includes credit cards and personal loans NEW KARMA GUARANTEE Karma Guarantee leverages Lightbox technology to give our members more confidence. When a member sees a Karma Guarantee offer, it indicates that either they will be appr
Slide 117: Expand growth verticals
Expand growth verticals Expand growth verticals Home and Auto by increasing certainty, simplicity, and speed PRE-APPROVAL LETTERS AND QUICK CLOSE FOR HOME LOANS Leveraging their data, members who are eligible early-stage home buyers can see their affordability amount and obtain a Pre-Approval Letter
Slide 118: Develop emerging verticals
Develop emerging verticals Focusing on money innovation with Credit Karma Money CREDIT KARMA MONEY Credit Karma Money is an important foundation for growth and engagement, especially with Gen Z, as we execute against opportunities across the platform. Members with a Credit Karma Money funded account
Slide 119: Accelerating growth with platform capabilities
Accelerating growth with platform capabilities Connecting and leveraging the ecosystem with Credit Karma Money, QuickBooks Online Payroll, and TurboTax GROW TURBOTAX BY In FY22, over 700K members used Credit Karma’s PROVIDING ACCESS TO Refund Estimator. Members who estimated their CREDIT KARMA MEMBE
Slide 120: Accelerating growth with platform capabilities
Accelerating growth with platform capabilities Connecting and leveraging the ecosystem with Credit Karma Money, QuickBooks Online Payroll, and TurboTax GROW TURBOTAX BY PROVIDING ACCESS TO CREDIT KARMA MEMBERS Grow member base by introducing TurboTax and QuickBooks Online Payroll customers to Credit
Slide 121: Accelerating growth with platform capabilities
Accelerating growth with platform capabilities Connecting and leveraging the ecosystem with Credit Karma Money, QuickBooks Online Payroll, and TurboTax GROW TURBOTAX BY PROVIDING ACCESS TO CREDIT KARMA MEMBERS GROW CREDIT KARMA MEMBER BASE In FY22 Credit Karma Money integrated with TurboTax to offer
Slide 122: Accelerating growth with platform capabilities
Accelerating growth with platform capabilities Connecting and leveraging the ecosystem with Credit Karma Money, QuickBooks Online Payroll, and TurboTax GROW TURBOTAX BY PROVIDING ACCESS TO CREDIT KARMA MEMBERS GROW CREDIT KARMA MEMBER BASE INTEGRATED CREDIT KARMA MONEY WITH TURBOTAX The integration
Slide 123: Vision, strategy, and execution unlocks TAM and creates durable growth
Vision, strategy, and execution unlocks TAM and creates durable growth Large TAM with significant opportunity to increase penetration There is significant opportunity to increase penetration within our existing addressable $85B CREDIT KARMA TAM market in 4 key ways Grow core business – $17B 7% share
Slide 124: Vision, strategy, and execution create a path to robust, long-term growth
Vision, strategy, and execution create a path to robust, long-term growth KEY DRIVERS FOR GROWTH GROWTH DRIVERS MULTIYEAR RANGE Members 4%–6% LONG-TERM Average MAU 6%–8% EXPECTATION 20%–25% CREDIT KARMA ANNUAL REVENUE GROWTH Average revenue per MAU Driven by growth in visit 10%–15% frequency, transa
Slide 125: Michelle Clatterbuck
Michelle Clatterbuck
Slide 126: Outstanding performance vs. FY22 objectives
Outstanding performance vs. FY22 objectives LAST YEAR’S OBJECTIVES FY22 OUTCOMES • Double-digit revenue growth 32% Intuit revenue growth • Fast-growing SaaS business 45% Combined platform revenue growth • Disciplined investments yield operating income dollars growing 61% Small business online ecosys
Slide 127: Financial principles remain enduring
Financial principles remain enduring GROW ORGANIC REVENUE DOUBLE DIGITS • Customer growth fueled by delivery of the customer benefit • Grow average revenue per customer OPERATING INCOME DOLLARS GROW FASTER THAN REVENUE • Revenue grows faster than expense • Acceptable LTV/CAC as we grow online DEPLOY
Slide 128: Platform revenue driving revenue growth
Platform revenue driving revenue growth • Small Business & Self-Employed Group Online Ecosystem, TurboTax Online, and Credit Karma revenue grew 45% to $9.6B in FY22, 34% excluding Mailchimp ~83% • Small Business & Self-Employed Group Online Ecosystem organic revenue grew 34% in FY22 ~70% • >80% of I
Slide 129: Strong customer and ARPC growth; large opportunity ahead
Strong customer and ARPC growth; large opportunity ahead TOTAL PAYING CUSTOMERS IN MILLIONS ONLINE PAYING ARPC $1,237 8.1 $832 +11% YoY $692 6.7 6.0 +37% YoY 5.6 4.6 $604 +24% YoY in M FY18 FY19 FY20 FY21 FY22 QBO subs 3.1 4.1 4.6 5.3 5.9 Standalone 0.4 0.4 0.4 0.4 0.3 services FY18 FY19 FY20 FY21 F
Slide 130: Increased share of total returns; grew ARPR
Increased share of total returns; grew ARPR FOCUSING ON GROWING TOTAL SHARE OF IRS RETURNS TURBOTAX US AVERAGE REVENUE PER RETURN 10-year US tax industry trends (M) 10-YR CAGR +1.1% TOTAL IRS $109 $105 +0.6% Total ARPR $97 $89 CPA/Pro Paying ARPR $80 $79 $68 (2.1%) $62 $63 $58 $52 Tax stores $47 $47
Slide 131: Increased share and grew average revenue per MAU
Increased share and grew average revenue per MAU LARGE TAM WITH SIGNIFICANT FY21 FY22 YoY OPPORTUNITY TO INCREASE PENETRATION Members 121M 129M 7% $85B CREDIT KARMA TAM Average MAUs 41M 42M 2% Grow core business—$17B 7% share of credit card and Credit cards, personal loans personal loan transactions
Slide 132: ARPC: Improved monetization over time
ARPC: Improved monetization over time FY19 FY20 FY21 FY22 FY23–FY25 ARPC ARPC ARPC ARPC EXPECTED TRAJECTORY QuickBooks Online INCREASE: Maturing base, online services, and new product innovation $386 $432 $488 $604 Ecosystem WW (for example, QB Live and QBO Advanced) Standalone Services $665 $721 $7
Slide 133: Disciplined investment: Drives operating income growth
Disciplined investment: Drives operating income growth Focus is on durable customer and revenue growth; manage operating margin at Intuit level GAAP BASIS UNLESS NOTED OTHERWISE FY22 % OF LONG-TERM EXPECTATION REVENUE Revenue 100 Double-digit growth driven by customers and ARPC Gross margin 81 % fla
Slide 134: Prioritizing investment opportunities is in our DNA
Prioritizing investment opportunities is in our DNA Investing to drive customer, revenue, and operating income growth INVESTING IN HIGHEST-YIELDING OPPORTUNITIES AREAS OF INVESTMENT INCLUDE • Investing to drive durable growth Revolutionize speed to benefit • Focusing on organic growth drivers and M&
Slide 135: Platform evolution drives margin expansion over time
Platform evolution drives margin expansion over time Leveraging key services and capabilities across our businesses Increasing developer velocity to drive faster delivery of customer benefits across products with TECHNOLOGY data and AI capabilities, expert services, money movement, unified identity
Slide 136: A track record of margin expansion
A track record of margin expansion FY23 operating income guidance considerations 36.4% • Expect non-GAAP operating margins to 36.2% 35.4% 33.6% 34.7% expand in FY23. • FY23 GAAP guidance includes stock-based 28.3% 27.3% 26.0% compensation of $1.8B, up 39% YoY, with ~25% of this total being equity gr
Slide 137: Overall capital allocation
Overall capital allocation (in billions) M& A $8.5 A healthy mix of uses of capital Debt Repay debt • Investing in organic growth drivers Dividends (R&D, infrastructure, sales, and marketing) Repurchases Share repurchases $6.2 • Use acquisitions to accelerate speed and CapEx Capex velocity, grow in
Slide 138: Share repurchase guiding principles
Share repurchase guiding principles Our intent is to be in the market each quarter, guided by these principles Share repurchase is used to 1 At a maximum, we limit repurchase amounts to: • Cash in excess of liquidity needs return cash to shareholders • Price level defined by “smart grid” to exceed i
Slide 139: Our rich data provides insights that allow us to be nimble
Our rich data provides insights that allow us to be nimble 6 year plan MACRO AND EXTERNAL INDICATORS (December) One Intuit Forum 3 year plan Monitor the impact of macro and external indicators throughout both (8x Year) (May) our small business and consumer platforms. • Interest rates • Unemployment
Slide 140: Playbook for operating in both good and difficult economic times
Playbook for operating in both good and difficult economic times DO THE RIGHT THING MANAGE FOR THE FOCUS ON FUTURE FOR CUSTOMERS SHORT AND LONG TERM INNOVATION Give customers access to the tools Play offense in any macro environment Play offense by investing aggressively in and offerings they need m
Slide 141: FY23 guidance: double-digit revenue growth
FY23 guidance: double-digit revenue growth GUIDANCE (in millions) FY23 GROWTH Small Business & Self-Employed $7,675–$7,755 19%–20% Consumer $4,265–$4,305 9%–10% Credit Karma $1,985–$2,075 10%–15% ProTax $560–$565 3% TOTAL REVENUE $14,485–$14,700 14%–16% 141
Slide 142: FY23 guidance: strong operating income growth
FY23 guidance: strong operating income growth (in millions, except EPS GUIDANCE and dividend per share) FY23 GROWTH GAAP operating income $2,794–$2,899 9%–13% Non-GAAP operating income $5,258–$5,363 17%–19% GAAP diluted EPS $6.92–$7.22 (5)%–(1)% Non-GAAP diluted EPS $13.59–$13.89 15%–17% Dividend pe
Slide 143: Long-term expectation for annual revenue growth
Long-term expectation for annual revenue growth CONSUMER CREDIT KARMA SMALL BUSINESS & SELF-EMPLOYED 1 PT OF GROWTH REVENUE GROWTH DRIVERS YIELDS REVENUE OF MULTIYEAR RANGE LEVERS MULTIYEAR RANGE REVENUE GROWTH DRIVERS MULTIYEAR RANGE IRS returns ~1% 0%–2% Members 4%–6% Online paying customers 10%–2
Slide 144: Large market opportunity & consistent operating excellence
Large market opportunity & consistent operating excellence • Double-digit revenue growth • Fast-growing platform company • Disciplined investments yield operating income dollars growing faster than revenue • AI-driven expert platform strategy enables new drivers of operating margin expansion • Consi
Slide 145: Q&A
Q&A Sasan Goodarzi Marianna Tessel Alex Chriss Varun Krishna CEO EVP and CTO EVP and GM, EVP and GM, Small Business & Self-Employed Group Consumer Group Kenneth Lin Michelle Clatterbuck Lara Balazs Humera Shahid CEO and Founder, EVP and CFO EVP, CMO, and GM, Chief Diversity, Equity and Credit Karma
Slide 146: Appendix
Appendix
Slide 147: About non-GAAP financial measures
About non-GAAP financial measures The accompanying presentation contains non-GAAP financial measures. Table 1, Table 2, and Table 3 reconcile the non-GAAP financial measures in the presentation to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounti
Slide 148: 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 149: Table 1: Reconciliation of historical non-GAAP financial measures
Table 1: Reconciliation of historical non-GAAP financial measures to the most directly comparable GAAP financial measures Fiscal Fiscal 2022 2021 GAAP operating income $ 2,571 $ 2,500 Amortization of acquired technology 140 50 Amortization of other acquired intangible assets 416 146 Professional fee
Slide 150: Table 2: Reconciliation of forward-looking guidance for non-GAAP measures
Table 2: Reconciliation of forward-looking guidance for non-GAAP financial measures to projected GAAP revenue, operating income (loss), and EPS (Dollars in millions, except per share amounts) Forward-Looking Guidance GAAP Non-GAAP Range of Estimate Range of Estimate From To Adjustments From To Twelv
Slide 151: Table 3: Calculation of free cash flow
Table 3: Calculation of free cash flow (Dollars in millions) Fiscal Fiscal Fiscal Fiscal 2022 2021 2020 2019 Net cash provided by operating activities $ 3,889 $ 3,250 $ 2,414 $ 2,324 Less capital expenditures: Purchases of property and equipment (157) (53) (59) (76) Capitalization of internal use so
Slide 152: Cautions about forward-looking statements
Cautions about forward-looking statements This presentation contains forward-looking statements, including expectations regarding: forecasts and timing of growth and future financial results of Intuit and its reporting segments; the impact of macroeconomic conditions on our business, segments and pr