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CLAIM #32345 · Intuit Inc (INTU) · 2021Q4 earnings call · Aug 24, 2021 · due Jul 31, 2022

We expect no impact on revenue from this decision.

Sasan Goodarzi · CEO

PENDING
graded after results covering Jul 31, 2022 are reported

In context

n to win remains durable. Let me now turn over to tax. This year marks our fourth consecutive year of double-digit revenue growth. We've built a durable strategy and we've made outstanding progress this year, with customer growth of 6% and our share of total returns up approximately 1 point. We extended our lead into the Do-It-Yourself category by focusing on underpenetrated segments, including investor customers, where we tripled the growth rate from last year. We continue to transform the $20 billion assisted segment with TurboTax Live, accelerating total customer growth by nearly 100%. We have a highly predictable model and a platform with a significant runway for growth as we accelerate innovation. Recently, we announced plans not to renew our participation in the IRS refile program. We expect no impact on revenue from this decision. I want to make sure that you understand how this decision fits within our overall strategy. Free offerings are a critical part of our strategy to serve and grow with customers over time, offering benefits to power their prosperity. Intuit has delivered nearly 100 million free tax filings over the past eight years. And with nearly 90% of those free tax filings coming outside of the IRS refile program. Looking ahead with no IRS refile program constraints, customers can enjoy all of the innovation we have to offer on our TurboTax, Credit Karma, and Mint platform. Our AI-driven expert platform strategy and 5 big bets are driving strong momentum and accelerating innovation across the Company. These big bets are focused on the largest problems our customers face and represent durable growth op

Verify independently

SEC filings for INTU · Claim quote is verbatim from the 2021Q4 earnings call.