CLAIM #32364 · Intuit Inc (INTU) · 2021Q4 earnings call · Aug 24, 2021 · due Jul 31, 2022
“But we do anticipate that that will just continue to decline over time.”
Michelle Clatterbuck · CFO
In context
“latterbuck: Hey, Keith. Thanks for your question. Well, first of all, I'd say we've been really excited about how Small Business has performed this year. And obviously, you can see with next year with our guide of 12% to 14%, we feel that it will be strong next year also. We feel that you really need to continue to look at Online Ecosystem revenue growth. And we do expect that to be 30% or better over time. We haven't guided to it. We don't do it quarterly, but we do expect it to be there over the long term and being driven by the 10% to 20% gross number of customers on the ARPC. Now when I go to the other side, which you were asking about around Desktop. Desktop, we have over time, the last few years, we've seen some growth in it, and obviously, this past year in 2021, we saw 4% growth. But we do anticipate that that will just continue to decline over time. We've got more and more customers. As they come in, they choose the online versions and so you've got 8, 9 out of 10 customers that come in and choose QBO. So that's where I would help you with your math on that. Keith Weiss: Got it. And just to be clear, is there any kind of structural change in terms of trying to more aggressively shift people from the desktop version to the online version, or is this just sort of normal course business and this is the trend line that you've been seeing over time? Michelle Clatterbuck: We have -- we've chosen not to force people to move onto online. We do think that there is a much better value proposition, and they just have a much better experience if they're using our online products, but we want them to use whatever works for them. But we have seen”
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SEC filings for INTU ↗ · Claim quote is verbatim from the 2021Q4 earnings call.