“We continue to expect the online ecosystem to be our growth catalyst longer-term.”

In context

“d we continue to see them adopt multiple offerings across the platform to manage their business. Desktop Ecosystem revenue grew 19% in the fourth quarter and QuickBooks Desktop Enterprise revenue grew in the low 20s. We are approximately two-thirds of the way through a three-year transition for customers that remained on license-based desktop offering to a recurring subscription model. We also raised our desktop prices across multiple products last September, consistent with our principle to price for value. Looking ahead, we expect continued strong desktop ecosystem revenue growth next year as we complete the remaining part of the three-year transition. Our focus is to continue building out our online ecosystem and to help our desktop customers migrate seamlessly to our online offerings. We continue to expect the online ecosystem to be our growth catalyst longer-term. Looking ahead, we continue to anticipate Small Business and Self-Employed revenue growth of 15% to 20% per year in long term. Now shifting to Credit Karma. Credit Karma delivered revenue of $424 million in Q4, down 11%. On a product basis, the decline in Q4 was driven primarily by macroeconomic headwinds in personal loans, auto insurance, home loans and auto loans, partially offset by growth in credit cards and Credit Karma Money. Full year revenue was $1.6 billion down 9%. Credit Karma represented 11% of Intuit's total revenue in fiscal '23. We have seen continued stability across our core verticals, which led to the improvement in year-over-year performance during Q4 versus Q3. For context, credit cards and personal loans represented nearly 50% and nearly 30% of Credit Karma’s revenue i”