Workflow
Intuit(INTU) - 2025 Q3 - Quarterly Report
INTUIntuit(INTU)2025-05-22 20:17
Transcript
Slide

Financial Performance - Total net revenue for Q3 Fiscal 2025 reached 7,754million,a15.17,754 million, a 15.1% increase from 6,737 million in Q3 Fiscal 2024[12] - Service revenue contributed 6,971million,up15.36,971 million, up 15.3% from 6,048 million year-over-year[12] - Net income for the quarter was 2,820million,representinga17.92,820 million, representing a 17.9% increase compared to 2,389 million in the same quarter last year[12] - Basic net income per share increased to 10.09,upfrom10.09, up from 8.53 in Q3 Fiscal 2024, reflecting a 18.3% growth[12] - Total net revenue for the nine months ended April 30, 2025, reached 15,000million,up14.515,000 million, up 14.5% from 13,101 million in the prior year[152] - Operating income for the three months ended April 30, 2025, was 3,720million,reflectinga19.83,720 million, reflecting a 19.8% increase from 3,105 million in the same quarter of 2024[152] - Net income for the nine months ended April 30, 2025, was 3,488million,comparedto3,488 million, compared to 2,983 million for the same period in 2024, representing a 16.9% increase[21] - Operating income for the nine months ended April 30, 2025, was 4,584million,comparedto4,584 million, compared to 3,781 million for the same period in 2024, marking a 21.2% increase[12] Assets and Equity - Total assets as of April 30, 2025, were 36,593million,anincreasefrom36,593 million, an increase from 32,132 million as of July 31, 2024[16] - Intuit's total stockholders' equity increased to 20,125millionfrom20,125 million from 18,436 million, reflecting a strong financial position[16] - Total stockholders' equity as of April 30, 2025, was 20,125million,anincreasefrom20,125 million, an increase from 18,757 million as of April 30, 2024, indicating a year-over-year growth of 7.3%[19] - Total current assets as of April 30, 2025, were 13,965million,anincreasefrom13,965 million, an increase from 9,678 million as of July 31, 2024[16] Cash Flow and Investments - Cash and cash equivalents rose to 5,443million,comparedto5,443 million, compared to 3,609 million at the end of the previous fiscal year[16] - The net cash provided by operating activities for the nine months ended April 30, 2025, was 5,826million,upfrom5,826 million, up from 4,467 million in the same period of 2024, representing a growth of 30.4%[21] - Cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of the period on April 30, 2025, totaled 10,184million,upfrom10,184 million, up from 6,481 million a year earlier, reflecting a significant increase of 57.5%[22] - The company reported a net cash used in financing activities of 1,652millionfortheninemonthsendedApril30,2025,comparedto1,652 million for the nine months ended April 30, 2025, compared to 851 million in 2024[22] Expenses and Costs - Total costs and expenses for the quarter were 4,034million,a11.14,034 million, a 11.1% increase from 3,632 million in Q3 Fiscal 2024[12] - Research and development expenses for the three months ended April 30, 2025, were 707million,anincreasefrom707 million, an increase from 671 million in the same period of 2024[12] - Share-based compensation expense for the nine months ended April 30, 2025, was 1,478million,slightlyhigherthan1,478 million, slightly higher than 1,421 million for the same period in 2024[21] Stock and Dividends - The company repurchased 754millionworthofstockunderitsstockrepurchaseprogramsduringthethreemonthsendedApril30,2025[17]−Dividendsdeclaredpershareincreasedto754 million worth of stock under its stock repurchase programs during the three months ended April 30, 2025[17] - Dividends declared per share increased to 1.04 for the three months ended April 30, 2025, compared to 0.90forthesameperiodin2024[19]−CashdividendsdeclaredduringtheninemonthsendedApril30,2025totaled0.90 for the same period in 2024[19] - Cash dividends declared during the nine months ended April 30, 2025 totaled 3.12 per share, amounting to 891million[125]SegmentPerformance−GlobalBusinessSolutionssegmentreportednetrevenueof891 million[125] Segment Performance - Global Business Solutions segment reported net revenue of 2,849 million for the three months ended April 30, 2025, a 19.4% increase from 2,387millionintheprioryear[152]−Consumersegmentnetrevenueincreasedto2,387 million in the prior year[152] - Consumer segment net revenue increased to 4,048 million for the three months ended April 30, 2025, compared to 3,653millioninthesameperiodof2024,markingan11.53,653 million in the same period of 2024, marking an 11.5% growth[152] - Credit Karma segment net revenue for the three months ended April 30, 2025, was 579 million, up 30.8% from 443millioninthesamequarterof2024[152]FutureOutlookandInvestments−Thecompanyexpectstocontinueinvestingsignificantlyinproductdevelopmentandmarketing,particularlyinartificialintelligence[10]−Thecompanyanticipateslong−termgrowthintotalservicerevenueasapercentageoftotalrevenue[10]LegalandCompliance−Thecompanyiscurrentlyinvolvedinvariouslegalproceedings,includingasettlementagreementwithstateattorneysgeneralfor443 million in the same quarter of 2024[152] Future Outlook and Investments - The company expects to continue investing significantly in product development and marketing, particularly in artificial intelligence[10] - The company anticipates long-term growth in total service revenue as a percentage of total revenue[10] Legal and Compliance - The company is currently involved in various legal proceedings, including a settlement agreement with state attorneys general for 141 million related to marketing practices[135] - The company is evaluating the impact of new accounting standards on its consolidated financial statements, effective for fiscal years beginning after December 15, 2023[44] Miscellaneous - No customer accounted for 10% or more of total net revenue in the three or nine months ended April 30, 2025[43] - The company reorganized technology and customer success functions across segments to enhance overall platform management[28]