CLAIM #32608 · Intuit Inc (INTU) · 2023Q4 earnings call · Aug 24, 2023 · due Aug 24, 2028
“You're going to see more come from ARPC than volume, and that's just the nature of the opportunity.”
Sasan Goodarzi · CEO
How to check this claim
Look at: TurboTax consumer segment revenue growth attributable to ARPC (average revenue per customer) versus volume/customer count growth
It came true if: ARPC growth contribution to TurboTax revenue growth exceeds volume/customer growth contribution, as described in management commentary
Where: management commentary on earnings calls / Intuit Consumer segment disclosures (10-K/10-Q and investor materials)
In context
“over again, we lost you. Scott Schneeberger: Absolutely. Thanks. So two quick on consumer. First, volume and price mix. Just your consideration of that going into fiscal 2024 and beyond given the trends of the recent years? And then for you or Sandeep, just curious in the extension season in the post-tax season, what did you see? Anything interesting with California? Should we see a shift from fiscal '23 to '24 that's material related to anything extension wise? Thank you. Sasan Goodarzi: Sure. Let me start with your volume mix question around TurboTax. I would say the way to think about it was what I described earlier, leaning into full service, leaning into business tax and continue to lean into TurboTax Live, which really comes with assistance, recognizing it's all data and AI driven. You're going to see more come from ARPC than volume, and that's just the nature of the opportunity. Now there is 88 million-plus people that are in the assisted segment and there's $30 billion of spend. So there's both a volume opportunity and an ARPC opportunity. Just our view, looking at the next 10 years, by the way, this is not a one-year answer, both matter, you're going to get -- we're going to get more from ARPC. And I'll let Sandeep jump in here as well. I mean on the extension season, that's just been very weird with many states that got extended to July and California to October and what we're seeing from customers is they're even gotten confused which month they have to file in their state. So net-net is there's more to file. When you look at it at the company level, it's really not material, but not everybody has filed yet. Sandeep Aujla: And that’s -- that's basically the a”
Verify independently
SEC filings for INTU ↗ · Claim quote is verbatim from the 2023Q4 earnings call.