Intuit(US:INTU)2022-09-13 19:53Key Points Industry/Company - Company: Intuit Inc. (NASDAQ:INTU) - Industry: Financial Technology, specifically focusing on small business and consumer financial services Core Points and Arguments - Shift in Strategy: Intuit is transitioning from a tax and accounting platform company to a platform that plays a meaningful role in consumers' and small businesses' everyday lives. - Growth: Excluding Mailchimp acquisition, Intuit delivered over 20% organic growth in the past year. The company has a $300 billion Total Addressable Market (TAM) with a 4% penetration rate. - Five Big Bets: 1. Revolutionize speed to benefit for customers 2. Connect people to experts 3. Unlock smart money decisions 4. Be the center of small business growth 5. Go upmarket and disrupt mid-market small businesses - Small Business Resilience: Intuit's focus on helping small businesses grow and manage their cash flow, combined with its subscription-based model, contributes to its resilience in the SMB ecosystem. - Payment Growth: Intuit's payments volume is growing over 30%, driven by innovations like instant deposit and access to loans. - Economic Indicators: Intuit's data indicates strong consumer and small business spending, with low unemployment and stable account balances. - Tax Simplification: Intuit advocates for tax simplification, which it believes will be a tailwind for its business. - Capital Allocation: Intuit remains disciplined in its financial principles, focusing on organic growth and strategic investments. Other Important Points - Mailchimp Acquisition: Intuit acquired Mailchimp to create a comprehensive platform for small businesses to grow and run their operations. - QuickBooks Live: This service connects small businesses with experts to help them make decisions and manage their books. - International Expansion: Mailchimp has significant international potential, which Intuit plans to explore. - Tax Services: Intuit focuses on the $30 billion market for tax assistance, targeting consumers and small businesses with complex tax situations. - Digital Payments: Intuit aims to digitize all payments on its platform, making it easier for businesses and consumers to manage their finances.