# EDGAR Filing Document

**Accession Number:** 0000896878
**File Stem:** 0000896878-25-000031
**Filing Date:** 2025-8
**Character Count:** 57100
**Document Hash:** 525f014aa1afc0c19365c2b407209409
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000896878-25-000031.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0000896878-25-000031

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250821

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INTUIT INC.
- **CENTRAL INDEX KEY:** 0000896878
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 770034661
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-21180
- **FILM NUMBER:** 251240688

**BUSINESS ADDRESS:**
- **STREET 1:** 2700 COAST AVENUE
- **CITY:** MOUNTAIN VIEW
- **STATE:** CA
- **ZIP:** 94043
- **BUSINESS PHONE:** 650-944-6000

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 7850
- **CITY:** MOUNTAIN VIEW
- **STATE:** CA
- **ZIP:** 94039-7850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTUIT INC
- **DATE OF NAME CHANGE:** 19930204

?xml version='1.0' encoding='ASCII'? intu-20250821

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): August 21, 2025**

**INTUIT INC.** 

**(Exact Name of Registrant as Specified in its Charter)** 

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-21180** | **77-0034661** |
| **(State or other Jurisdiction<br>of Incorporation)** | **(Commission<br>File Number)** | **(I.R.S. Employer<br>Identification No.)** |

---

**<u>2700 Coast Avenue, Mountain View, CA 94043</u>**

*(Address of principal executive offices, including zip code)*

**(650) 944-6000** 

*(Registrant's telephone number, including area code)*

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of Each Class</u> | <u>Trading Symbol</u> | <u>Name of Exchange on Which Registered</u> |
| Common Stock, $0.01 par value | INTU | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.**

On August 21, 2025, Intuit Inc. announced its financial results for the fiscal quarter and year ended July 31, 2025 and provided forward-looking guidance. A copy of the press release is attached to this Report as Exhibit 99.01.

The information in this Report and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing.

**ITEM 8.01 OTHER EVENTS.**

On August 21, 2025, Intuit also announced that its Board of Directors approved a cash dividend of $1.20 per share. The cash dividend will be paid on October 17, 2025 to shareholders of record as of the close of business on October 9, 2025. Future declarations of dividends and the establishment of future record dates and payment dates are subject to the final determination of the Intuit Board of Directors. A copy of the press release announcing the cash dividend is furnished as Exhibit 99.01 to this Report.

**ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.**

(d) Exhibits

---

| | |
|:---|:---|
| 99.01 | <u>[Press release issued on August 2](fy25q4earningspressrelease.htm)[1](fy25q4earningspressrelease.htm)[, 202](fy25q4earningspressrelease.htm)[5](fy25q4earningspressrelease.htm)[, reporting financial results for the](fy25q4earningspressrelease.htm)[fiscal](fy25q4earningspressrelease.htm)[quarter and year ended July 31, 202](fy25q4earningspressrelease.htm)[5](fy25q4earningspressrelease.htm)[and announcing the cash dividend.](fy25q4earningspressrelease.htm)</u>\* |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |

---

\* This exhibit is intended to be furnished and shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: August 21, 2025 | INTUIT INC. | INTUIT INC. |
|  | By: | /s/ SANDEEP S. AUJLA |
|  |  | Sandeep S. Aujla |
|  |  | Executive Vice President and <br>Chief Financial Officer |

---

## Exhibit 99.01

**Exhibit 99.01**

---

| | | |
|:---|:---|:---|
| **Contacts:&nbsp;&nbsp;&nbsp;&nbsp;** | **Investors** | **Media** |
| | Kim Watkins | Kali Fry |
| | Intuit Inc. | Intuit Inc. |
| | 650-944-3324 | 650-944-3036 |
| | kim_watkins@intuit.com&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | kali_fry@intuit.com |

---

**Intuit Reports Strong Fourth Quarter and Full Year Fiscal 2025 Results; Sets Fiscal 2026 Guidance With Double Digit Revenue Growth and Continued Operating Margin Expansion**

**Fourth-quarter revenue grew 20 percent, full year fiscal 2025 revenue grew 16 percent**

**MOUNTAIN VIEW, Calif. - Aug. 21, 2025 -** <u>Intuit Inc.</u> (Nasdaq: INTU) the global financial technology platform that makes Intuit <u>TurboTax</u>, <u>Credit Karma</u>, <u>QuickBooks</u>, and <u>Mailchimp</u>,

announced financial results for the fourth quarter and full fiscal year 2025, which ended July 31, 2025.

"We had an exceptional fiscal 2025 with 20 percent growth in the fourth quarter and 16 percent growth for the full year," said Sasan Goodarzi, Intuit's chief executive officer. "Our virtual team of AI agents and AI-enabled human experts are powering success for consumers and businesses. We could not be more excited about the opportunity ahead."

**Financial Highlights**

For the full year, Intuit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grew total revenue to $18.8 billion, up 16 percent year-over-year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased combined platform revenue, which includes the Global Business Solutions Group Online Ecosystem, TurboTax Online, and Credit Karma, 19 percent to $14.9 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grew Global Business Solutions Group revenue 16 percent to $11.1 billion and Online Ecosystem revenue 20 percent to $8.3 billion. Excluding Mailchimp, Global Business

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

Solutions Group revenue grew 18 percent, and Online Ecosystem revenue grew 25 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased Consumer Group revenue 10 percent to $4.9 billion and TurboTax Live revenue 47 percent to $2.0 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grew Credit Karma revenue 32 percent to $2.3 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased GAAP operating income 36 percent to $4.9 billion, and non-GAAP operating income 18 percent to $7.6 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grew GAAP earnings per share 31 percent to $13.67, and non-GAAP earnings per share 19 percent to $20.15.

For the fourth quarter, Intuit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grew total revenue 20 percent to $3.8 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased Global Business Solutions Group revenue 18 percent to $3.0 billion and Online Ecosystem revenue 21 percent to $2.2 billion. Excluding Mailchimp, Global Business Solutions Group revenue grew 21 percent, and Online Ecosystem revenue grew 26 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grew Credit Karma revenue 34 percent to $649 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased Consumer Group revenue 21 percent to $137 million.

Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics.

**Snapshot of Fiscal Year 2025 Full-year Results** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **GAAP** | **GAAP** | **GAAP** | **GAAP** | **Non-GAAP** | **Non-GAAP** | **Non-GAAP** |
| | **FY25** | **FY24** | **Change** | **FY25** | **FY24** | **Change** |
| **Revenue** | $18831 | $16285 | 16% | $18831 | $16285 | 16% |
| **Operating Income** | $4923 | $3630 | 36% | $7572 | $6402 | 18% |
| **Earnings Per Share** | $13.67 | $10.43 | 31% | $20.15 | $16.94 | 19% |

---

Dollars are in millions, except earnings per share. See "About Non-GAAP Financial Measures" below for more information regarding financial measures not prepared in accordance with Generally Accepted Accounting Principles (GAAP).

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

**Snapshot of Fourth-quarter Fiscal Year 2025 Results**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **GAAP** | **GAAP** | **GAAP** | **GAAP** | **Non-GAAP** | **Non-GAAP** | **Non-GAAP** |
| | **Q4<br>FY25** | **Q4<br>FY24** | **Change** | **Q4<br>FY25** | **Q4<br>FY24** | **Change** |
| **Revenue** | $3831 | $3184 | 20% | $3831 | $3184 | 20% |
| **Operating Income (Loss)** | $339 | $(151) | NM | $1016 | $730 | 39% |
| **Earnings (Loss) Per Share** | $1.35 | $(0.07) | NM | $2.75 | $1.99 | 38% |

---

NM = Not Meaningful

Dollars are in millions, except earnings per share. See "About Non-GAAP Financial Measures" below for more information regarding financial measures not prepared in accordance with Generally Accepted Accounting Principles (GAAP).

"We delivered strong business outcomes for fiscal 2025, and we are proud of our progress across the big bets that delivered accelerated growth," said Sandeep Aujla, Intuit's chief financial officer. "We saw outstanding execution across our platform, driving breakthrough adoption in assisted tax, introducing transformative AI agents across our business platform, and building our mid-market go-to-market capabilities, all while driving strong margin expansion."

**Business Segment Results**

**<u>Global Business Solutions Group</u>**

Global Business Solutions Group revenue grew 18 percent for the quarter and 16 percent for the year to $11.1 billion. Online Ecosystem revenue grew 21 percent for the quarter and 20 percent for the year to $8.3 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• QuickBooks Online Accounting revenue grew 23 percent for the quarter and 22 percent for the year. Growth in the quarter was driven by higher effective prices, customer growth, and mix shift.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Online Services revenue grew 19 percent for both the quarter and the year. Growth in the quarter was driven by growth in money and payroll. Excluding Mailchimp, Online Services revenue grew 29 percent for both the quarter and the year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total international online revenue grew 9 percent for both the quarter and the year on a constant currency basis.

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

**<u>Consumer and ProTax Groups</u>**

Consumer Group revenue grew 10 percent for the year to $4.9 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• TurboTax Live revenue grew 47 percent for the year, representing 41 percent of total Consumer Group revenue. TurboTax Live customers grew 24 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• TurboTax Online paying units grew 6 percent on share gains from higher average revenue per return (ARPR) filers. TurboTax Online units declined 1 percent and total TurboTax units declined 2 percent for the year, due to yielding share with lower ARPR customers.

**TurboTax Federal Unit Data**

---

| | | | |
|:---|:---|:---|:---|
| **Units in millions** | **Season through<br>July 31, 2025** | **Season through<br>July 31, 2024** | **Change<br>Year-Over-Year** |
| Desktop Units | 4.3 | 4.6 | (4)% |
| Online Units | 34.9 | 35.4 | (1)% |
| **Total U.S. TurboTax Units** | **39.2** | **39.9** | **(2)%** |

---

ProTax Group revenue grew 4 percent for the year to $621 million.

**<u>Credit Karma</u>**

Credit Karma revenue grew 32 percent to $2.3 billion for the year. Credit Karma revenue grew 34 percent for the quarter to $649 million, driven by strength in personal loans, credit cards, and auto insurance.

**Capital Allocation Summary** 

The company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reported a total cash and investments balance of approximately $4.6 billion and total debt of $6.0 billion as of July 31.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Repurchased $2.8 billion of stock during fiscal year 2025. The Board approved a new $3.2 billion repurchase authorization, giving the company a total authorization of $5.3 billion to repurchase shares.

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Received Board approval for a quarterly dividend of $1.20 per share, payable on October 17, 2025. This represents a 15 percent increase versus last year.

**One Consumer Platform** 

Consistent with the company's vision to deliver one consumer platform, effective August 1, 2025, Intuit combined the Consumer, Credit Karma and ProTax businesses into a single Consumer business. The company will reflect this new organization in its fiscal 2026 segment reporting. Additional information can be found on the company's fact sheet at https://investors.intuit.com/financial-information.

**Forward-looking Guidance**

Intuit announced guidance for the full fiscal year 2026. The company expects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue of $20.997 billion to $21.186 billion, growth of approximately 12 to 13 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP operating income of $5.782 billion to $5.859 billion, growth of approximately 17 to 19 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP operating income of $8.611 billion to $8.688 billion, growth of approximately 14 to 15 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP diluted earnings per share of $15.49 to $15.69, growth of approximately 13 to 15 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP diluted earnings per share of $22.98 to $23.18, growth of approximately 14 to 15 percent.

The company expects the following segment revenue results for fiscal year 2026:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Global Business Solutions: growth of 14 to 15 percent. Excluding Mailchimp, the company expects Global Business Solutions Group revenue growth of 15.5 percent to 16.5 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Consumer: growth of 8 to 9 percent. This includes TurboTax growth of 8 percent, Credit Karma growth of 10 to 13 percent, and ProTax growth of 2 to 3 percent.

Intuit also announced guidance for the first quarter of fiscal year 2026, which ends Oct. 31. The company expects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue growth of approximately 14 to 15 percent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP earnings per share of $1.19 to $1.26.

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP diluted earnings per share of $3.05 to $3.12.

**Conference Call Details**

Intuit executives will discuss the financial results on a conference call at 1:30 p.m. Pacific time on Aug. 21. The conference call can be heard live at https://investors.intuit.com/news-events/ir-calendar. Prepared remarks for the call will be available on Intuit's website after the call ends.

**Replay Information** 

A replay of the conference call will be available for one week by calling 800-839-2383, or 402-220-7202 from international locations. There is no passcode required. The audio webcast will remain available on Intuit's website for one week after the conference call.

**Investor Day 2025**

Intuit will host its annual Investor Day on Sept. 18 at 8:00 a.m. Pacific time, at its headquarters in Mountain View, CA, and it can be viewed live at https://investors.intuit.com/news-events/ir-calendar. The half-day event will include presentations from Sasan Goodarzi, chief executive officer, Sandeep Aujla, chief financial officer, and other leaders.

**About Intuit**

<u>Intuit</u> is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as <u>TurboTax</u>, <u>Credit Karma</u>, <u>QuickBooks</u>, and <u>Mailchimp</u>, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at <u>Intuit.com</u> and find us on <u>social</u> for the latest information about Intuit and our products and services.

**About Non-GAAP Financial Measures**

This press release and the accompanying tables include non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles, please see the section of the accompanying tables titled "About Non-GAAP Financial Measures" as well as the related Table B1,

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

Table B2, and Table E. A copy of the press release issued by Intuit today can be found on the investor relations page of Intuit's website.

**Cautions About Forward-looking Statements**

This press release contains forward-looking statements, including expectations regarding: forecasts and timing of growth and future financial results of Intuit and its reporting segments; the impact of macroeconomic conditions on our business, segments, and products; Intuit's prospects for the business in fiscal 2026 and beyond; Intuit's growth outside the US; timing and growth of revenue from current or future products, features, and services; innovation across our ecosystem; demand for our products; customer growth and retention; Intuit's corporate tax rate; changes to our products, including the impact of AI; the amount and timing of any future dividends or share repurchases; our capital structure; availability of our offerings; and the impact of acquisitions and strategic decisions on our business; as well as all of the statements under the heading "Forward-looking Guidance."

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. These risks and uncertainties may be amplified by the effects of global developments and conditions or events, including macroeconomic uncertainty or geopolitical conditions, which have caused significant global economic instability and uncertainty. Given these risks and uncertainties, persons reading this communication are cautioned not to place any undue reliance on such forward-looking statements. These factors include, without limitation, the following: our ability to compete successfully; potential governmental encroachment in our tax business; our ability to develop, deploy, and use artificial intelligence in our platform and products; our ability to adapt to technological change and to successfully extend our platform; our ability to predict consumer behavior; our reliance on intellectual property; our ability to protect our intellectual property rights; any harm to our reputation; risks associated with our environmental, social, and governance efforts; risks associated with acquisition and divestiture activity; the issuance of equity or incurrence of debt to fund acquisitions or for general business purposes; cybersecurity incidents (including those affecting the third parties we rely on); customer or regulator concerns about privacy and cybersecurity incidents; fraudulent activities by third parties using our offerings; our failure to process transactions effectively; interruption or failure of our information technology; our ability to maintain critical third-party business relationships; our ability to attract and retain talent and the success of our hybrid work model; any deficiency in the quality or accuracy of our offerings (including the advice given by experts on our platform); any delays in product launches;

------

Intuit Reports Fourth Quarter and Full-year 2025 Earnings

difficulties in processing or filing customer tax submissions; risks associated with international operations; risks associated with climate change; changes to public policy, laws, or regulations affecting our businesses; legal proceedings in which we are involved; fluctuations in the results of our tax business due to seasonality and other factors beyond our control; changes in tax rates and tax reform legislation; global economic conditions (including, without limitation, inflation); exposure to credit, counterparty and other risks in providing capital to businesses; amortization of acquired intangible assets and impairment charges; our ability to repay or otherwise comply with the terms of our outstanding debt; our ability to repurchase shares or distribute dividends; volatility of our stock price; and our ability to successfully market our offerings.

More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2024 and in our other SEC filings. You can locate these reports through our website at https://investors.intuit.com. First-quarter and full-year fiscal 2026 guidance speaks only as of the date it was publicly issued by Intuit. Other forward-looking statements represent the judgment of the management of Intuit as of the date of this presentation. Except as required by law, we do not undertake any duty to update any forward-looking statement or other information in this presentation.

------

**TABLE A**

INTUIT INC.

GAAP CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| | **July 31,<br>2025** | **July 31,<br>2024** | **July 31,<br>2025** | **July 31,<br>2024** |
| Net revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Service | $3291 | $2670 | $16400 | $13861 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product and other | 540 | 514 | 2431 | 2424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net revenue | 3831 | 3184 | 18831 | 16285 |
| Costs and expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of service revenue | 834 | 733 | 3624 | 3250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of product and other revenue | 16 | 14 | 68 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired technology | 44 | 36 | 156 | 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling and marketing | 1251 | 1104 | 5035 | 4312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 801 | 725 | 2928 | 2754 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 424 | 377 | 1601 | 1418 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of other acquired intangible assets | 121 | 123 | 481 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 1 | 223 | 15 | 223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total costs and expenses [A] | 3492 | 3335 | 13908 | 12655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 339 | (151) | 4923 | 3630 |
| Interest expense | (59) | (60) | (247) | (242) |
| Interest and other income, net | 86 | 71 | 158 | 162 |
| Income (loss) before income taxes | 366 | (140) | 4834 | 3550 |
| Income tax (benefit) provision [B] | (15) | (120) | 965 | 587 |
| Net income (loss) | $381 | $(20) | $3869 | $2963 |
| Basic net income (loss) per share | $1.36 | $(0.07) | $13.82 | $10.58 |
| Shares used in basic per share calculations | 279 | 280 | 280 | 280 |
| Diluted net income (loss) per share | $1.35 | $(0.07) | $13.67 | $10.43 |
| Shares used in diluted per share calculations | 282 | 280 | 283 | 284 |

---

See accompanying Notes.

------

**INTUIT INC.**

**NOTES TO TABLE A**

[A]The following table summarizes the total share-based compensation expense that we recorded in operating income (loss) for the periods shown.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(In millions)* | **July 31, 2025** | **July 31, 2024** | **July 31, 2025** | **July 31, 2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue | $101 | $102 | $423 | $402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling and marketing | 137 | 137 | 541 | 506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research and development | 159 | 161 | 629 | 639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 93 | 94 | 375 | 368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring |  | 25 |  | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total share-based compensation expense | $490 | $519 | $1968 | $1940 |

---

[B]We recognized excess tax benefits on share-based compensation of $143 million in our provision for income taxes for the twelve months ended July 31, 2025 and $183 million for the twelve months ended July 31, 2024.

Our effective tax rate for the twelve months ended July 31, 2025 was approximately 20%. Excluding certain tax benefits primarily related to share-based compensation, our effective tax rate was approximately 24%. This rate differed from the federal statutory rate of 21% primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the benefit we received from the federal research and experimentation credit.

Our effective tax rate for the twelve months ended July 31, 2024 was approximately 17%. Excluding certain tax benefits primarily related to share-based compensation, our effective tax rate was approximately 24%. This rate differed from the federal statutory rate of 21% primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the benefit we received from the federal research and experimentation credit.

On July 4, 2025, the U.S. federal government enacted the One Big Beautiful Bill Act (OBBBA), which includes significant tax law changes. The OBBBA has multiple effective dates from fiscal 2025 through fiscal 2027. The provisions effective during fiscal 2025 did not have a significant impact on our consolidated financial statements.

In the current global tax policy environment, the U.S. and other domestic and foreign governments continue to consider, and in some cases enact, changes in corporate tax laws. As changes occur, we account for finalized legislation in the period of enactment.

------

**TABLE B1**

INTUIT INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

TO MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES

(In millions, except per share amounts)

(Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Fiscal 2025** | **Fiscal 2025** | **Fiscal 2025** | **Fiscal 2025** | **Fiscal 2025** |
| | **Q1** | **Q2** | **Q3** | **Q4** | **Full Year** |
| **GAAP operating income (loss)** | $271 | $593 | $3720 | $339 | $4923 |
| Amortization of acquired technology | 37 | 37 | 38 | 44 | 156 |
| Amortization of other acquired intangible assets | 120 | 120 | 120 | 121 | 481 |
| Restructuring | 9 | 4 | 1 | 1 | 15 |
| Professional fees for business combinations |  |  | 2 |  | 2 |
| Net (gain) loss on executive deferred compensation plan liabilities [A] | 5 | 8 | (7) | 21 | 27 |
| Share-based compensation expense | 511 | 498 | 469 | 490 | 1968 |
| **Non-GAAP operating income (loss)** | $953 | $1260 | $4343 | $1016 | $7572 |
| **GAAP net income (loss)** | $197 | $471 | $2820 | $381 | $3869 |
| Amortization of acquired technology | 37 | 37 | 38 | 44 | 156 |
| Amortization of other acquired intangible assets | 120 | 120 | 120 | 121 | 481 |
| Restructuring | 9 | 4 | 1 | 1 | 15 |
| Professional fees for business combinations |  |  | 2 |  | 2 |
| Net (gain) loss on executive deferred compensation plan liabilities [A] | 5 | 8 | (7) | 21 | 27 |
| Share-based compensation expense | 511 | 498 | 469 | 490 | 1968 |
| Net (gain) loss on debt securities and other investments [B] | 42 | 3 | 2 | (2) | 45 |
| Net (gain) loss on executive deferred compensation plan assets [A] | (4) | (7) | 7 | (20) | (24) |
| Income tax effects and adjustments [C] | (208) | (196) | (172) | (260) | (836) |
| **Non-GAAP net income (loss)** | $709 | $938 | $3280 | $776 | $5703 |
| **GAAP diluted net income (loss) per share** | $0.70 | $1.67 | $10.02 | $1.35 | $13.67 |
| Amortization of acquired technology | 0.13 | 0.13 | 0.13 | 0.16 | 0.55 |
| Amortization of other acquired intangible assets | 0.42 | 0.42 | 0.43 | 0.43 | 1.70 |
| Restructuring | 0.03 | 0.01 |  |  | 0.05 |
| Professional fees for business combinations |  |  | 0.01 |  | 0.01 |
| Net (gain) loss on executive deferred compensation plan liabilities [A] | 0.02 | 0.03 | (0.02) | 0.07 | 0.10 |
| Share-based compensation expense | 1.80 | 1.76 | 1.66 | 1.74 | 6.95 |
| Net (gain) loss on debt securities and other investments [B] | 0.15 | 0.01 | 0.01 | (0.01) | 0.16 |
| Net (gain) loss on executive deferred compensation plan assets [A] | (0.02) | (0.02) | 0.02 | (0.07) | (0.09) |
| Income tax effects and adjustments [B] | (0.73) | (0.69) | (0.61) | (0.92) | (2.95) |
| **Non-GAAP diluted net income (loss) per share** | $2.50 | $3.32 | $11.65 | $2.75 | $20.15 |
| **Shares used in GAAP diluted per share calculations** | 283 | 283 | 282 | 282 | 283 |
| **Shares used in non-GAAP diluted per share calculations** | 283 | 283 | 282 | 282 | 283 |

---

[A] During the first quarter of fiscal 2025, we began to exclude from non-GAAP measures both the gains and losses on executive deferred &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;compensation plan liabilities, and the related gains and losses on executive deferred compensation plan assets. Prior periods have not been reclassified as the amounts are not material.

[B]&nbsp;&nbsp;&nbsp;&nbsp;During the three months ended October 31, 2024, we recognized a $42 million net loss on other long-term investments.

[C] As discussed in "About Non-GAAP Financial Measures - Income Tax Effects and Adjustments" following Table E, our long-term non-GAAP tax rate eliminates the effects of non-recurring and period-specific items. Income tax adjustments consist primarily of the tax impact of the non-GAAP pre-tax adjustments and tax benefits related to share-based compensation.

See "About Non-GAAP Financial Measures" immediately following Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure.

------

**TABLE B2**

INTUIT INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

TO MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES

(In millions, except per share amounts)

(Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Fiscal 2024** | **Fiscal 2024** | **Fiscal 2024** | **Fiscal 2024** | **Fiscal 2024** |
| | **Q1** | **Q2** | **Q3** | **Q4** | **Full Year** |
| **GAAP operating income (loss)** | $307 | $369 | $3105 | $(151) | $3630 |
| Amortization of acquired technology | 38 | 36 | 36 | 36 | 146 |
| Amortization of other acquired intangible assets | 120 | 120 | 120 | 123 | 483 |
| Restructuring [A] |  |  |  | 223 | 223 |
| Professional fees for business combinations |  |  |  | 5 | 5 |
| Share-based compensation expense | 495 | 475 | 451 | 494 | 1915 |
| **Non-GAAP operating income (loss)** | $960 | $1000 | $3712 | $730 | $6402 |
| **GAAP net income (loss)** | $241 | $353 | $2389 | $(20) | $2963 |
| Amortization of acquired technology | 38 | 36 | 36 | 36 | 146 |
| Amortization of other acquired intangible assets | 120 | 120 | 120 | 123 | 483 |
| Restructuring [A] |  |  |  | 223 | 223 |
| Professional fees for business combinations |  |  |  | 5 | 5 |
| Share-based compensation expense | 495 | 475 | 451 | 494 | 1915 |
| Net (gain) loss on debt securities and other investments  | 1 | (3) | 1 | 1 |  |
| Loss on disposal of a business | 1 |  | 9 | (1) | 9 |
| Income tax effects and adjustments [B] | (198) | (235) | (202) | (298) | (933) |
| **Non-GAAP net income (loss)** | $698 | $746 | $2804 | $563 | $4811 |
| **GAAP diluted net income (loss) per share** | $0.85 | $1.25 | $8.42 | $(0.07) | $10.43 |
| Amortization of acquired technology | 0.13 | 0.13 | 0.13 | 0.13 | 0.51 |
| Amortization of other acquired intangible assets | 0.42 | 0.42 | 0.42 | 0.43 | 1.70 |
| Restructuring [A] |  |  |  | 0.79 | 0.79 |
| Professional fees for business combinations |  |  |  | 0.02 | 0.02 |
| Share-based compensation expense | 1.75 | 1.67 | 1.59 | 1.74 | 6.75 |
| Net (gain) loss on debt securities and other investments | 0.01 | (0.01) |  |  |  |
| Loss on disposal of a business | 0.01 |  | 0.03 |  | 0.03 |
| Income tax effects and adjustments [B] | (0.70) | (0.83) | (0.71) | (1.05) | (3.29) |
| **Non-GAAP diluted net income (loss) per share** | $2.47 | $2.63 | $9.88 | $1.99 | $16.94 |
| **Shares used in GAAP diluted per share calculations** | 283 | 284 | 284 | 280 | 284 |
| **Shares used in non-GAAP diluted per share calculations** | 283 | 284 | 284 | 283 | 284 |

---

[A] &nbsp;&nbsp;&nbsp;&nbsp; Restructuring charges for the three and twelve months ended July 31, 2024 includes $25 million in share-based compensation expense. See "About Non-GAAP Financial Measures" for further information on restructuring charges.

[B]&nbsp;&nbsp;&nbsp;&nbsp;As discussed in "About Non-GAAP Financial Measures - Income Tax Effects and Adjustments" following Table E, our long-term non-GAAP tax rate eliminates the effects of non-recurring and period-specific items. Income tax adjustments consist primarily of the tax impact of the non-GAAP pre-tax adjustments and tax benefits related to share-based compensation.

See "About Non-GAAP Financial Measures" immediately following Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure.

------

**TABLE C**

INTUIT INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)

---

| | | |
|:---|:---|:---|
| | **July 31, 2025** | **July 31, 2024** |
| ASSETS |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $2884 | $3609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | 1668 | 465 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 530 | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes receivable held for investment, net | 1403 | 779 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes receivable held for sale |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes receivable | 50 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 496 | 366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current assets before funds receivable and amounts held for customers | 7031 | 5757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Funds receivable and amounts held for customers | 7076 | 3921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 14107 | 9678 |
| Long-term investments | 94 | 131 |
| Property and equipment, net | 961 | 1009 |
| Operating lease right-of-use assets | 541 | 411 |
| Goodwill | 13980 | 13844 |
| Acquired intangible assets, net | 5302 | 5820 |
| Long-term deferred income tax assets | 1222 | 698 |
| Other assets | 751 | 541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $36958 | $32132 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term debt | $— | $499 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 792 | 721 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation and related liabilities | 858 | 921 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 1019 | 872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 625 | 557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current liabilities before funds payable and amounts due to customers | 3294 | 3570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Funds payable and amounts due to customers | 7076 | 3921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 10370 | 7491 |
| Long-term debt | 5973 | 5539 |
| Operating lease liabilities | 597 | 458 |
| Other long-term obligations | 308 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 17248 | 13696 |
| Stockholders' equity | 19710 | 18436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $36958 | $32132 |

---

------

**TABLE D**

INTUIT INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

---

| | | |
|:---|:---|:---|
| | **Twelve Months Ended** | **Twelve Months Ended** |
| | **July 31, 2025** | **July 31, 2024** |
| **Cash flows from operating activities:** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $3869 | $2963 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 172 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 637 | 630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash operating lease cost | 75 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 1968 | 1940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (435) | (554) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 127 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total adjustments | 2544 | 2348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Originations and purchases of notes receivable held for sale |  | (96) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and principal repayments of notes receivable held for sale |  | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (71) | (52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes receivable | 27 | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (283) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 73 | 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation and related liabilities | (64) | 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 142 | (49) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (77) | (71) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 47 | (569) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total changes in operating assets and liabilities | (206) | (429) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash provided by operating activities** | **6207** | **4884** |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of corporate and customer fund investments | (2363) | (780) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of corporate and customer fund investments | 320 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maturities of corporate and customer fund investments | 864 | 676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (124) | (250) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions of businesses, net of cash acquired | (184) | (83) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Originations and purchases of notes receivable held for investment | (3992) | (2538) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of notes receivable originally classified as held for investment | 562 | 234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal repayments of notes receivable held for investment | 2706 | 2068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (107) | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in investing activities** | **(2318)** | **(227)** |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of long-term debt, net of discount and issuance costs |  | 3956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of debt | (500) | (4200) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from borrowings under unsecured revolving credit facility |  | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments on borrowings under unsecured revolving credit facility |  | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from borrowings under secured revolving credit facilities | 429 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments on borrowings under secured revolving credit facilities |  | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of stock under employee stock plans | 398 | 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments for employee taxes withheld upon vesting of restricted stock units | (982) | (1002) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for purchases of treasury stock | (2772) | (1988) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends and dividend rights paid | (1189) | (1034) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in funds receivable and funds payable and amounts due to customers | 3107 | 3436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (1) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash used in financing activities** | **(1510)** | **(397)** |
| Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents | 3 | (13) |
| **Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents** | **2382** | **4247** |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period | 7099 | 2852 |
| **Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period** | $**9481** | $**7099** |

---

------

---

| | | |
|:---|:---|:---|
| Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents reported within the consolidated balance sheets to the total amounts reported on the consolidated statements of cash flows |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $**2884** | $**3609** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted cash and restricted cash equivalents included in funds receivable and amounts held for customers | **6597** | **3490** |
| **Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period** | $**9481** | $**7099** |
| **Supplemental disclosure of cash flow information:** |  |  |
| Interest paid | $**284** | $**200** |
| Income taxes paid, net | $**1408** | $**1881** |
| **Supplemental schedule of non-cash investing activities:** |  |  |
| Transfers of notes receivable originated or purchased as held for investment to held for sale, net | $**546** | $**231** |

---

------

**TABLE E**

INTUIT INC.

RECONCILIATION OF FORWARD-LOOKING GUIDANCE FOR NON-GAAP FINANCIAL MEASURES TO PROJECTED GAAP REVENUE, OPERATING INCOME, AND EPS

(In millions, except per share amounts)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Forward-Looking Guidance** | **Forward-Looking Guidance** | **Forward-Looking Guidance** | **Forward-Looking Guidance** | **Forward-Looking Guidance** | **Forward-Looking Guidance** |
| | **GAAP<br>Range of Estimate** | **GAAP<br>Range of Estimate** | | | **Non-GAAP<br>Range of Estimate** | **Non-GAAP<br>Range of Estimate** |
| | **From** | **To** |<br>**Adjmts** | | **From** | **To** |
| **Three Months Ending October 31, 2025** | | | | | | |
| Revenue | $3744 | $3776 | $— |  | $3744 | $3776 |
| Operating income | $440 | $460 | $719 | [a] | $1159 | $1179 |
| Diluted earnings per share | $1.19 | $1.26 | $1.86 | [b] | $3.05 | $3.12 |
| **Twelve Months Ending July 31, 2026** |  |  |  |  |  |  |
| Revenue | $20997 | $21186 | $— |  | $20997 | $21186 |
| Operating income | $5782 | $5859 | $2829 | [c] | $8611 | $8688 |
| Diluted earnings per share | $15.49 | $15.69 | $7.49 | [d] | $22.98 | $23.18 |

---

See "About Non-GAAP Financial Measures" immediately following Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure.

[a] Reflects estimated adjustments for share-based compensation expense of approximately $554 million; amortization of other acquired intangible assets of approximately $121 million; and amortization of acquired technology of approximately $44 million.

[b] Reflects estimated adjustments in item [a], income taxes related to these adjustments, and other income tax effects related to the use of the non-GAAP tax rate.

[c] Reflects estimated adjustments for share-based compensation expense of approximately $2.2 billion; amortization of other acquired intangible assets of approximately $483 million; and amortization of acquired technology of approximately $176 million.

[d] Reflects estimated adjustments in item [c], income taxes related to these adjustments, and other income tax effects related to the use of the non-GAAP tax rate.

------

**INTUIT INC.**

**ABOUT NON-GAAP FINANCIAL MEASURES**

The accompanying press release dated August 21, 2025 contains non-GAAP financial measures. Table B1, Table B2, and Table E reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures include non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP diluted net income (loss) per share.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names, and may differ from non-GAAP financial measures with the same or similar names that are used by other companies.

We compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. Beginning in the first quarter of fiscal 2025, we exclude from our non-GAAP measures gains and losses from the revaluation of our executive deferred compensation plan liabilities, and the related gains and losses on our executive deferred compensation plan assets. Prior periods have not been reclassified as amounts are immaterial.

We exclude the following items from all of our non-GAAP financial measures:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amortization of acquired technology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amortization of other acquired intangible assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Restructuring charges

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Share-based compensation expense

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains and losses on executive deferred compensation plan liabilities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Goodwill and intangible asset impairment charges

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains and losses on disposals of businesses and long-lived assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Professional fees and transaction costs for business combinations

We also exclude the following items from non-GAAP net income (loss) and diluted net income (loss) per share:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains and losses on debt securities and other investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains and losses on executive deferred compensation plan assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Income tax effects and adjustments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Discontinued operations

We believe these non-GAAP financial measures provide meaningful supplemental information regarding Intuit's operating results primarily because they exclude amounts that we do not consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization, our individual operating segments, or our senior management. Segment managers are not held accountable for share-based compensation expense, amortization, restructuring, or the other excluded items and, accordingly, we exclude these amounts from our measures of segment performance. We believe our non-GAAP financial measures also facilitate the comparison by management and investors of results for current periods and guidance for future periods with results for past periods.

The following are descriptions of the items we exclude from our non-GAAP financial measures.

*Amortization of acquired technology and amortization of other acquired intangible assets*. When we acquire a business in a business combination, we are required by GAAP to record the fair values of the intangible assets of the business and amortize them over their useful lives. Amortization of acquired technology in cost of revenue includes amortization of software and other technology assets of acquired businesses. Amortization of other acquired intangible assets in operating expenses includes amortization of assets such as customer lists and trade names.

*Restructuring charges*. This consists of costs incurred as a direct result of discrete strategic restructuring actions, including, but not limited to severance and other one-time termination benefits, and other costs, which are different in terms of size, strategic nature, and frequency than ongoing productivity and business improvements.

*Share-based compensation expense*. This consists of non-cash expenses for stock options, restricted stock units, and our Employee Stock Purchase Plan. When considering the impact of equity awards, we place greater emphasis on overall shareholder dilution rather than the accounting charges associated with those awards.

------

*Gains and losses on executive deferred compensation plan liabilities*. We exclude from our non-GAAP financial measures gains and losses on the revaluation of our executive deferred compensation plan liabilities.

*Goodwill and intangible asset impairment charges*. We exclude from our non-GAAP financial measures non-cash charges to adjust the carrying values of goodwill and other acquired intangible assets to their estimated fair values.

*Gains and losses on disposals of businesses and long-lived assets.* We exclude from our non-GAAP financial measures gains and losses on disposals of businesses and long-lived assets because they are unrelated to our ongoing business operating results.

*Professional fees and transaction costs for business combinations*. We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. These include investment banking, legal, and accounting fees.

*Gains and losses on debt securities and other investments*. We exclude from our non-GAAP financial measures credit losses on available-for-sale debt securities and gains and losses on other investments.

*Gains and losses on executive deferred compensation plan assets*. We exclude from our non-GAAP financial measures gains and losses on the revaluation of our executive deferred compensation plan assets.

*Income tax effects and adjustments.* We use a long-term non-GAAP tax rate for evaluating operating results and for planning, forecasting, and analyzing future periods. This long-term non-GAAP tax rate excludes the income tax effects of the non-GAAP pre-tax adjustments described above, and eliminates the effects of non-recurring and period specific items which can vary in size and frequency. Based on our long-term projections, we are using a long-term non-GAAP tax rate of 24% for fiscal 2025 and fiscal 2026. This long-term non-GAAP tax rate could be subject to change for various reasons including significant acquisitions, changes in our geographic earnings mix, or fundamental tax law changes in major jurisdictions in which we operate. We will evaluate this long-term non-GAAP tax rate on an annual basis and whenever any significant events occur which may materially affect this rate.

*Operating results and gains and losses on the sale of discontinued operations*. From time to time, we sell or otherwise dispose of selected operations as we adjust our portfolio of businesses to meet our strategic goals. In accordance with GAAP, we segregate the operating results of discontinued operations as well as gains and losses on the sale of these discontinued operations from continuing operations on our GAAP statements of operations but continue to include them in GAAP net income or loss and net income or loss per share. We exclude these amounts from our non-GAAP financial measures.

The reconciliations of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures in Table E include all information reasonably available to Intuit at the date of this press release. These tables include adjustments that we can reasonably predict. Events that could cause the reconciliation to change include acquisitions and divestitures of businesses, goodwill and other asset impairments, sales of available-for-sale debt securities and other investments, and disposals of businesses and long-lived assets.