Intuit Inc. (INTU) CEO Sasan Goodarzi Presents at Goldman Sachs TMT Conference (Transcript)

Key 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.