H&r Block, Inc. · NYSE:HRB
H&r Block — Q3 2025 Earnings Presentation
28 slides from H&r Block's earnings presentation, May 7, 2025
Slide 1: Q3 FY25 Financial Results Conference Call
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Q3 FY25 Financial Results Conference Call May 7, 2025
Slide 2: Jordyn Eskijian, Program Manager, Investor Relations & ESG
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Jordyn Eskijian Program Manager, Investor Relations & ESG
Slide 3: Safe Harbor Statement
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Safe Harbor Statement Forward-Looking Statement This presentation contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not rela
Slide 4: Safe Harbor Statement: Non-GAAP Measures
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Safe Harbor Statement Non-GAAP Measures We refer to certain Non-GAAP financial measures in this presentation, including adjusted earnings per share (EPS), earnings before interest, taxes, depreciation, and amortization (EBI
Slide 5: Jeff Jones, President & Chief Executive Officer
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Jeff Jones President & Chief Executive Officer
Slide 6: Strong Q3 Results as Transformation Continues
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Strong Q3 Results as Transformation Continues Q3 results: FY25 Outlook reaffirmed 4% Revenue growth 5% EBITDA growth 1 9% EPS growth 2 1 Please see the safe harbor statement at the beginning of this presentation for i
Slide 7: Tax Industry: Clients Seek Help and Expertise
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Tax Industry: Clients Seek Help and Expertise HRB is the Assisted category leader At the Industry level: More clients waiting until closer to the x Volume Assisted DIY grew ~1%, category category deadline to file as anticip
Slide 8: Assisted: Improved volume and share trends
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Assisted: Improved volume and share trends Redesigned Assisted client How? experience to: x Improved tax pro matching algorithm 1 Convert more clients Introduced new steps to ensure tax pros better 2 Improve retention u
Slide 9: Assisted: Improved volume and share trends
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Assisted: Improved volume and share trends Increased client conversion Second Look ® for second consecutive year x Unique among nationwide preparers, Boosted customer free to new clients satisfaction scores Uncovers
Slide 10: Assisted: Improved volume and share trends
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Assisted: Improved volume and share trends HRB’s trusted brand For the third Shift toward Assisted is a competitive consecutive year: shows desire for expert differentiator help and value x x Client growth in each Str
Slide 11: DIY: Disciplined focus on paid clients
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l DIY: Disciplined focus on paid clients Q3 DIY Revenue Paid NAC through 4/30 Online paid volume +8% +9% essentially flat HRB disciplined in Higher customer More than half of unprecedented satisfaction across growth from mix
Slide 12: DIY: Disciplined focus on paid clients
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l DIY: Disciplined focus on paid clients AI Tax Assist Tax Pro Review MyBlock Expanded knowledge Delivered another H&R Block’s mobile app base, driving higher year of growth and digital front door user engagement and Re
Slide 13: Block Horizons
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Block Horizons 13
Slide 14: Continued Opportunity in Small Business
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Continued Opportunity in Small Business In Q3: In Q3: High single-digit revenue growth Key priorities of accelerating in Assisted Small Business tax revenue growth and driving Improved conversion from four- profitabil
Slide 15: Financial Products Improve Clients' Well-Being
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Financial Products Improve Clients’ Well-Being From launch through 4/30/25: 700K ~50% Engaging clients year-round Highly effective cross- sign ups of deposits selling efforts non-tax up ~50% related Access to federal
Slide 16: Jeff Jones, President & Chief Executive Officer
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Jeff Jones President & Chief Executive Officer
Slide 17: Tiffany Mason, Chief Financial Officer
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Tiffany Mason Chief Financial Officer
Slide 18: H&R Block Investment Thesis
H & R BLO C K Q3 FY25 Financial Results Conference Call H&R Block Investment Thesis National Scale & Compelling Stable Industry Strong Brand Recognition Financial Profile Business model tied ~9K company and Consistent, strong to essential tax prep franchise offices free cash flow1 services 6
Slide 19: Q3 FY25 Financial Results
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Q3 FY25 Financial Results In millions, except per share amounts Q3 FY25 Q3 FY24 Change Revenue $2,277.1 $2,184.8 4.2% Operating Expenses $1,298.8 $1,256.6 (3.4%) Interest Expense $24.7 $26.1 5.3% Net Income $722.9 $691.6 4.
Slide 20: Steadfast & Strong Capital Allocation Practices
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Steadfast & Strong Capital Allocation Practices Disciplined strategy focused on funding the business and supporting shareholder returns In Q1 & Q2 FY25: ~$1.1B remaining on Repurchased $1.5B share $400M, ~5% of repurchase t
Slide 21: FY25 Outlook Reaffirmed
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l FY25 Outlook Reaffirmed Assumptions: Typical industry growth FY25 Outlook of ~1% Maintain market share in Revenue $3.69 - $3.75B overall tax category Low single-digit price EBITDA1 $975M - $1.02B increases Wave and
Slide 22: Jeff Jones, President & Chief Executive Officer
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Jeff Jones President & Chief Executive Officer
Slide 23: Q&A
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Q&A 23
Slide 24: Appendix
H & R BLO C K Q 3 F Y 2 5 F i n a n c i al Res ul t s Co n fer en c e Ca l l Appendix 24
Slide 25: H&R Block Operating Statistics
H&R Block Operating Statistics OPERATING STATISTICS TAX RETURNS PREPARED (U.S. only, in 000s)": July 1, 2024 April 30, 2025 July 1, 2023 April 30, 20 Company-owned operations 8,696 8,605 11% Franchise operations” 2,358 2,542 (7.2)% Total Assisted 11,054 11,147 (0.8)% Desktop 1,717 1,764 (2.7)% Onlin
Slide 26: H&R Block Tax Offices
H&R Block Tax Offices TAX OFFICES (as of March 31): 2025 U.S. offices: Company-owned offices 6,701 6,643 Franchise offices 2,013 2,168 Total U.S. offices 8,714 8,811 International offices: Canada 946 952 Australia 401 397 Total international offices 1,347 1,349 Tax offices worldwide 10,061 10,160
Slide 27: Non-GAAP Measure: EBITDA
Non-GAAP Measure: EBITDA The following is a reconciliation of net income to EBITDA from continuing operations, which is a non-GAAP financial measure: {in 000s) nths ended EBITDA March 31, 2025 31, 2024 Net income - as reported $ 722,330 $ 690,737 Discontinued operations, net 598 849 Net income from
Slide 28: Non-GAAP Measure: Adjusted EPS
Non-GAAP Measure: Adjusted EPS The following is a reconciliation of our results from continuing operations to our adjusted results from continuing operations, which is a non-GAAP financial measure: {in 000s, except per share amounts) Three months ended ADJUSTED EPS 31, 2024 Net income from continuin