Intuit (INTU) Q2 2025 Earnings Call Transcript

Intuit (INTU -2.05%)
Q2 2025 Earnings Call
Feb 25, 2025, 4:30 p.m. ET

Contents:

• Prepared Remarks
• Questions and Answers
• Call Participants

Prepared Remarks:

Operator

Good afternoon. My name is Angela, and I will be your conference operator. At this time, I would like to welcome everyone to Intuit’s second quarter fiscal year 2025 conference call. All lines have been placed on mute to prevent any background noise.

After the speakers’ remarks, there will be a question-and-answer period. [Operator instructions] With that, I will now turn the call over to Kim Watkins, Intuit’s vice president of investor relations. Ms. Watkins?

Kim A. Watkins — Vice President, Investor Relations

Thanks, Angela. Good afternoon, and welcome to Intuit’s second quarter fiscal 2025 conference call. I’m here with Intuit CEO, Sasan Goodarzi; and our CFO, Sandeep Aujla. Before we start, I’d like to remind everyone that our remarks will include forward-looking statements.

There are a number of factors that could cause Intuit’s results to differ materially from our expectations. You can learn more about these risks in the press release we issued earlier this afternoon, our Form 10-K for fiscal 2024, and our other SEC filings. All of those documents are available on the investor relations page of Intuit’s website at intuit.com. We assume no obligation to update any forward-looking statement.

Some of the numbers in these remarks are presented on a non-GAAP basis. We’ve reconciled the comparable GAAP and non-GAAP numbers in today’s press release. 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. A copy of our prepared remarks and supplemental financial information will be available on our website after this call ends.

With that, I’ll turn the call over to Sasan.

Sasan K. Goodarzi — Chief Executive Officer and Director

Great. Thanks, Kim, and thanks to all of you for joining us today. We delivered very strong results in Q2 with revenue growth of 17%, and we’re off to a great start in tax. We have strong momentum this year as we execute our global AI-driven expert platform strategy, powering prosperity for consumers and businesses.

We are confident in delivering double-digit revenue growth and expanding margin this year, and we’re reiterating our full year guidance. Today. I will focus on three areas: revolutionizing speed to benefit by delivering done-for-you experiences with expertise, winning in tax, and mid-market. We’re making strong progress across our platform with our data and AI investments to deliver done-for-you experiences with AI-powered human expertise.

Our focus is on automating tasks, end-to-end workflows, and entire functions, connecting customers to one of our more than 12,000 AI-powered human experts for the last mile or to complete all of the work. This is Intuit Assist, the combination of AI and AI-powered human experts, digitizing everything for customers and fueling their success. Let me share one example to demonstrate our progress. On our business platform, Intuit Assist delivers done-for-you experiences, automating workflows using AI agents.

It automatically turns emails, electronic documents, and handwritten notes into estimates, invoices, or bills while doing the accounting in the background. It spots potential cash flow shortages in real time and suggests personalized solutions like applying for a line of credit through QuickBooks Capital. With these capabilities, we’re seeing a 10% higher payment conversion rate on overdue invoices when customers use AI-generated invoice reminders versus those that don’t. We’re also connecting customers to our AI-powered experts at their point of need through QuickBooks live, up 2.5x in Q2, with 20-point higher ecosystem attach rate than the rest of the QBO base.