Intuit (INTU) 10-K risk factor changes: FY2025 vs FY2024

For the fiscal year ended July 31, [removed: 2024][added: 2025]

[removed: ][added: ]

*(Address of principal executive [removed: offices, including zip code)*][added: offices) (Zip Code)*]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such [removed: reports);] [added: reports),] and (2) has been subject to such filing requirements for the past 90 days.

See [removed: definition] [added: the definitions] of “large accelerated filer,” “accelerated filer,” “smaller reporting [removed: company,”] [added: company”] and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to [removed: § 240.10D-1(b).][added: §240.10D-1(b).]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the [removed: Exchange] Act).

The aggregate market value of Intuit Inc. outstanding common stock held by non-affiliates of Intuit as of January 31, [removed: 2024,] [added: 2025,] the last business day of our most recently completed second fiscal quarter, based on the closing price of [removed: $631.33] [added: $601.51] reported by the Nasdaq Global Select Market on that date, was [removed: $172.1] [added: $164.2] billion.

The number of shares (in thousands) of Intuit voting common stock outstanding as of August [removed: 27, 2024] [added: 26, 2025] was [removed: 280,292.][added: 278,805.]

Portions of the registrant’s definitive proxy statement for its [added: 2026] Annual Meeting of Stockholders [removed: to be held on January 23, 2025] are incorporated by reference in Part III of this Annual Report on Form 10-K.

| INTUIT INC. FISCAL [removed: 2024] [added: 2025] FORM 10-K INDEX | | |

| [ITEM [removed: 1:](#iadadc3be278e4dd1be33298e6b75c612_13)] [added: 1:](#i581672766df440d3b4e85441bf1f5b75_13)] | | | [removed: [Business](#iadadc3be278e4dd1be33298e6b75c612_13)] [added: [Business](#i581672766df440d3b4e85441bf1f5b75_13)] | | | | | | [removed: [4](#iadadc3be278e4dd1be33298e6b75c612_13)] [added: [4](#i581672766df440d3b4e85441bf1f5b75_13)] | | |

| [ITEM [removed: 1A:](#iadadc3be278e4dd1be33298e6b75c612_61)] [added: 1A:](#i581672766df440d3b4e85441bf1f5b75_73)] | | | [Risk [removed: Factors](#iadadc3be278e4dd1be33298e6b75c612_61)] [added: Factors](#i581672766df440d3b4e85441bf1f5b75_73)] | | | | | | [removed: [16](#iadadc3be278e4dd1be33298e6b75c612_61)] [added: [15](#i581672766df440d3b4e85441bf1f5b75_73)] | | |

| [ITEM [removed: 1B:](#iadadc3be278e4dd1be33298e6b75c612_64)] [added: 1B:](#i581672766df440d3b4e85441bf1f5b75_76)] | | | [Unresolved Staff [removed: Comments](#iadadc3be278e4dd1be33298e6b75c612_64)] [added: Comments](#i581672766df440d3b4e85441bf1f5b75_76)] | | | | | | [removed: [29](#iadadc3be278e4dd1be33298e6b75c612_64)] [added: [29](#i581672766df440d3b4e85441bf1f5b75_76)] | | |

| [ITEM [removed: 2:](#iadadc3be278e4dd1be33298e6b75c612_67)] [added: 2:](#i581672766df440d3b4e85441bf1f5b75_82)] | | | [removed: [Properties](#iadadc3be278e4dd1be33298e6b75c612_67)] [added: [Properties](#i581672766df440d3b4e85441bf1f5b75_82)] | | | | | | [removed: [31](#iadadc3be278e4dd1be33298e6b75c612_67)] [added: [30](#i581672766df440d3b4e85441bf1f5b75_82)] | | |

| [ITEM [removed: 3:](#iadadc3be278e4dd1be33298e6b75c612_70)] [added: 3:](#i581672766df440d3b4e85441bf1f5b75_85)] | | | [Legal [removed: Proceedings](#iadadc3be278e4dd1be33298e6b75c612_70)] [added: Proceedings](#i581672766df440d3b4e85441bf1f5b75_85)] | | | | | | [removed: [31](#iadadc3be278e4dd1be33298e6b75c612_70)] [added: [30](#i581672766df440d3b4e85441bf1f5b75_85)] | | |

| [ITEM [removed: 4:](#iadadc3be278e4dd1be33298e6b75c612_73)] [added: 4:](#i581672766df440d3b4e85441bf1f5b75_88)] | | | [Mine Safety [removed: Disclosures](#iadadc3be278e4dd1be33298e6b75c612_73)] [added: Disclosures](#i581672766df440d3b4e85441bf1f5b75_88)] | | | | | | [removed: [31](#iadadc3be278e4dd1be33298e6b75c612_73)] [added: [30](#i581672766df440d3b4e85441bf1f5b75_88)] | | |

| [ITEM [removed: 5:](#iadadc3be278e4dd1be33298e6b75c612_79)] [added: 5:](#i581672766df440d3b4e85441bf1f5b75_94)] | | | [Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity [removed: Securities](#iadadc3be278e4dd1be33298e6b75c612_79)] [added: Securities](#i581672766df440d3b4e85441bf1f5b75_94)] | | | | | | [removed: [32](#iadadc3be278e4dd1be33298e6b75c612_79)] [added: [31](#i581672766df440d3b4e85441bf1f5b75_94)] | | |

| [ITEM [removed: 6:](#iadadc3be278e4dd1be33298e6b75c612_82)] [added: 6:](#i581672766df440d3b4e85441bf1f5b75_97)] | | | [removed: [\[Reserved\]](#iadadc3be278e4dd1be33298e6b75c612_82)] [added: [\[Reserved\]](#i581672766df440d3b4e85441bf1f5b75_97)] | | | | | | [removed: [33](#iadadc3be278e4dd1be33298e6b75c612_82)] [added: [32](#i581672766df440d3b4e85441bf1f5b75_97)] | | |

| [ITEM [removed: 7:](#iadadc3be278e4dd1be33298e6b75c612_85)] [added: 7:](#i581672766df440d3b4e85441bf1f5b75_100)] | | | [Management’s Discussion and Analysis of Financial Condition and Results of [removed: Operations](#iadadc3be278e4dd1be33298e6b75c612_85)] [added: Operations](#i581672766df440d3b4e85441bf1f5b75_100)] | | | | | | [removed: [34](#iadadc3be278e4dd1be33298e6b75c612_85)] [added: [33](#i581672766df440d3b4e85441bf1f5b75_100)] | | |

| [ITEM [removed: 7A:](#iadadc3be278e4dd1be33298e6b75c612_121)] [added: 7A:](#i581672766df440d3b4e85441bf1f5b75_136)] | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#iadadc3be278e4dd1be33298e6b75c612_121)] [added: Risk](#i581672766df440d3b4e85441bf1f5b75_136)] | | | | | | [removed: [53](#iadadc3be278e4dd1be33298e6b75c612_121)] [added: [52](#i581672766df440d3b4e85441bf1f5b75_136)] | | |

| [ITEM [removed: 8:](#iadadc3be278e4dd1be33298e6b75c612_124)] [added: 8:](#i581672766df440d3b4e85441bf1f5b75_139)] | | | [Financial Statements and Supplementary [removed: Data](#iadadc3be278e4dd1be33298e6b75c612_124)] [added: Data](#i581672766df440d3b4e85441bf1f5b75_139)] | | | | | | [removed: [55](#iadadc3be278e4dd1be33298e6b75c612_124)] [added: [54](#i581672766df440d3b4e85441bf1f5b75_139)] | | |

| [ITEM [removed: 9:](#iadadc3be278e4dd1be33298e6b75c612_211)] [added: 9:](#i581672766df440d3b4e85441bf1f5b75_229)] | | | [Changes in and Disagreements with Accountants on Accounting and Financial [removed: Disclosure](#iadadc3be278e4dd1be33298e6b75c612_211)] [added: Disclosure](#i581672766df440d3b4e85441bf1f5b75_229)] | | | | | | [removed: [102](#iadadc3be278e4dd1be33298e6b75c612_211)] [added: [99](#i581672766df440d3b4e85441bf1f5b75_229)] | | |

| [ITEM [removed: 9A:](#iadadc3be278e4dd1be33298e6b75c612_214)] [added: 9A:](#i581672766df440d3b4e85441bf1f5b75_232)] | | | [Controls and [removed: Procedures](#iadadc3be278e4dd1be33298e6b75c612_214)] [added: Procedures](#i581672766df440d3b4e85441bf1f5b75_232)] | | | | | | [removed: [102](#iadadc3be278e4dd1be33298e6b75c612_214)] [added: [99](#i581672766df440d3b4e85441bf1f5b75_232)] | | |

| [ITEM [removed: 9C:](#iadadc3be278e4dd1be33298e6b75c612_220)] [added: 9C:](#i581672766df440d3b4e85441bf1f5b75_238)] | | | [Disclosure Regarding Foreign Jurisdictions that Prevent [removed: Inspections](#iadadc3be278e4dd1be33298e6b75c612_220)] [added: Inspections](#i581672766df440d3b4e85441bf1f5b75_238)] | | | | | | [removed: [102](#iadadc3be278e4dd1be33298e6b75c612_220)] [added: [99](#i581672766df440d3b4e85441bf1f5b75_238)] | | |

| [ITEM [removed: 10:](#iadadc3be278e4dd1be33298e6b75c612_226)] [added: 10:](#i581672766df440d3b4e85441bf1f5b75_244)] | | | [Directors, Executive Officers and Corporate [removed: Governance](#iadadc3be278e4dd1be33298e6b75c612_226)] [added: Governance](#i581672766df440d3b4e85441bf1f5b75_244)] | | | | | | [removed: [103](#iadadc3be278e4dd1be33298e6b75c612_226)] [added: [100](#i581672766df440d3b4e85441bf1f5b75_244)] | | |

| [ITEM [removed: 12:](#iadadc3be278e4dd1be33298e6b75c612_232)] [added: 12:](#i581672766df440d3b4e85441bf1f5b75_250)] | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#iadadc3be278e4dd1be33298e6b75c612_232)] [added: Matters](#i581672766df440d3b4e85441bf1f5b75_250)] | | | | | | [removed: [103](#iadadc3be278e4dd1be33298e6b75c612_232)] [added: [100](#i581672766df440d3b4e85441bf1f5b75_250)] | | |

| [ITEM [removed: 13:](#iadadc3be278e4dd1be33298e6b75c612_235)] [added: 13:](#i581672766df440d3b4e85441bf1f5b75_253)] | | | [Certain Relationships and Related Transactions, and Director [removed: Independence](#iadadc3be278e4dd1be33298e6b75c612_235)] [added: Independence](#i581672766df440d3b4e85441bf1f5b75_253)] | | | | | | [removed: [103](#iadadc3be278e4dd1be33298e6b75c612_235)] [added: [100](#i581672766df440d3b4e85441bf1f5b75_253)] | | |

| [ITEM [removed: 14:](#iadadc3be278e4dd1be33298e6b75c612_238)] [added: 14:](#i581672766df440d3b4e85441bf1f5b75_256)] | | | [Principal Accountant Fees and [removed: Services](#iadadc3be278e4dd1be33298e6b75c612_238)] [added: Services](#i581672766df440d3b4e85441bf1f5b75_256)] | | | | | | [removed: [103](#iadadc3be278e4dd1be33298e6b75c612_238)] [added: [100](#i581672766df440d3b4e85441bf1f5b75_256)] | | |

| [PART [removed: IV](#iadadc3be278e4dd1be33298e6b75c612_241)] [added: III](#i581672766df440d3b4e85441bf1f5b75_241)] | | | | | | | | | | | |

| [ITEM [removed: 15:](#iadadc3be278e4dd1be33298e6b75c612_244)] [added: 15:](#i581672766df440d3b4e85441bf1f5b75_262)] | | | [Exhibits and Financial Statement [removed: Schedules](#iadadc3be278e4dd1be33298e6b75c612_244)] [added: Schedules](#i581672766df440d3b4e85441bf1f5b75_262)] | | | | | | [removed: [104](#iadadc3be278e4dd1be33298e6b75c612_244)] [added: [101](#i581672766df440d3b4e85441bf1f5b75_262)] | | |

| | | | [added: 2 | | |] Intuit Fiscal [removed: 2024] [added: 2025] Form 10-K | | | [removed: 2] | | | [removed: | | |]

- our assumptions underlying our critical accounting [removed: policies and] estimates, including our judgments and estimates regarding revenue recognition; the fair value of goodwill; and expected future amortization of acquired intangible assets;

- our belief that [removed: the credit] [added: our debt] facilities will be available to us should we choose to borrow under them;

Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to those discussed in the section entitled “*Risk Factors”* in Item 1A of Part I of [added: this] Annual Report.

| | | | [added: | | |] Intuit Fiscal [removed: 2024] [added: 2025] Form 10-K | | | 3 | | | [removed: | | |]

We do this through our [removed: global AI-driven expert] platform [removed: and our offerings including] [added: that powers] TurboTax, Credit Karma, QuickBooks, [added: Mailchimp,] and [removed: Mailchimp.][added: Intuit Enterprise Suite.]

| [removed: Small] [added: Global] Business [removed: & Self-Employed:] [added: Solutions(1):] This segment serves small and mid-market businesses around the world, and the accounting professionals who assist and advise them. [removed: Our] QuickBooks [removed: offerings include financial] and [added: Intuit Enterprise Suite are offerings powered by our all-in-one] business [added: platform which includes financial] management [removed: online services and desktop software,] [added: services, human capital management solutions such as] payroll [removed: solutions,] [added: and] time tracking, [added: money solutions, such as] merchant payment [removed: processing and] [added: processing,] bill [removed: pay solutions,] [added: pay,] checking accounts through an [removed: FDIC member] [added: FDIC-member] bank partner, and financing for small [added: and mid-market] businesses. [removed: Our] [added: Intuit Enterprise Suite provides mid-market businesses with a configurable, AI-powered solution that includes multi-entity and multi-dimensional financial management capabilities designed to seamlessly scale and enhance productivity and profitability for more complex businesses to streamline operations.] Mailchimp offerings include marketing automation and customer relationship [removed: management.] [added: tools.] Consumer: This segment [added: primarily] serves [removed: consumers and includes] [added: consumers, helping customers get their taxes done with confidence—whether they do it themselves or with the help of an AI-enabled human expert. TurboTax delivers] do-it-yourself and assisted [removed: TurboTax] income tax preparation products and services sold in the [removed: U.S.] [added: United States (U.S.)] and Canada. Credit Karma: This segment serves consumers with a personal finance [removed: platform] [added: offering] that [removed: provides] [added: helps members find the right financial products and make smarter money decisions throughout the year to reach their financial goals. This includes] personalized recommendations [removed: of] [added: for] credit card, home, auto, and personal loan, and insurance products; online savings and checking accounts through an [removed: FDIC member] [added: FDIC-member] bank partner; and access to their credit scores and reports, credit and identity monitoring, credit report dispute, credit building tools, and tools to help understand net worth and make financial progress. ProTax: This segment serves professional accountants in the U.S. and Canada, who are essential to both [removed: small] business success and tax preparation and filing. Our professional tax offerings include Lacerte, ProSeries, and ProConnect Tax Online in the U.S., and ProFile and ProTax Online in Canada. | | |

Our strategy, combined with our [removed: five] Big Bets that focus on the largest customer problems and growth opportunities, positions us for durable [removed: growth in the future.][added: growth.]

| | | | [added: 4 | | |] Intuit Fiscal [removed: 2024] [added: 2025] Form 10-K | | | [removed: 4] | | | [removed: | | |]

[Table](#i581672766df440d3b4e85441bf1f5b75_7) [of Contents](#i581672766df440d3b4e85441bf1f5b75_7)

[Table](#i581672766df440d3b4e85441bf1f5b75_7) [of Contents](#i581672766df440d3b4e85441bf1f5b75_7)

| [PART I](#i581672766df440d3b4e85441bf1f5b75_10) | | | | | | | | | | | |

| [ITEM 1C:](#i581672766df440d3b4e85441bf1f5b75_79) | | | [Cybersecurity](#i581672766df440d3b4e85441bf1f5b75_79) | | | | | | [29](#i581672766df440d3b4e85441bf1f5b75_79) | | |

| [PART II](#i581672766df440d3b4e85441bf1f5b75_91) | | | | | | | | | | | |

| [ITEM 9B:](#i581672766df440d3b4e85441bf1f5b75_235) | | | [Other Information](#i581672766df440d3b4e85441bf1f5b75_235) | | | | | | [99](#i581672766df440d3b4e85441bf1f5b75_235) | | |

| [ITEM 11:](#i581672766df440d3b4e85441bf1f5b75_247) | | | [Executive Compensation](#i581672766df440d3b4e85441bf1f5b75_247) | | | | | | [100](#i581672766df440d3b4e85441bf1f5b75_247) | | |

| [PART IV](#i581672766df440d3b4e85441bf1f5b75_259) | | | | | | | | | | | |

| [ITEM 16](#i581672766df440d3b4e85441bf1f5b75_265): | | | [Form 10-K Summary](#i581672766df440d3b4e85441bf1f5b75_265) | | | | | | [104](#i581672766df440d3b4e85441bf1f5b75_265) | | |

| | | | [Signatures](#i581672766df440d3b4e85441bf1f5b75_268) | | | | | | [105](#i581672766df440d3b4e85441bf1f5b75_268) | | |

[Table](#i581672766df440d3b4e85441bf1f5b75_7) [of Contents](#i581672766df440d3b4e85441bf1f5b75_7)

[Table](#i581672766df440d3b4e85441bf1f5b75_7) [of Contents](#i581672766df440d3b4e85441bf1f5b75_7)

Serving approximately 100 million consumers, small and mid-market businesses, and accountants worldwide, Intuit’s platform brings the power of artificial intelligence (AI) and human intelligence together to fuel customers’ success.

With TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite, we help put more money in customers’ pockets, save them time by eliminating work, and help ensure that they have complete confidence in every financial decision they make.

Our strategy is to be an AI-driven expert platform by connecting customers to a virtual team of AI agents and AI-enabled human tax and financial experts.

We're creating done-for-you experiences by automating everyday tasks, managing complex workflows and processes, and solving challenges before they arise with predictive insights.

We connect customers to AI-enabled human experts for that last mile of decisions or to complete the work for them.

We harness the power of data, data services, AI, and human intelligence that help customers reach their financial goals.

Intuit's all-in-one business platform helps customers run and grow their businesses end-to-end, from lead to cash.

This includes financial management - including payments and capital - compliance, human capital management, and marketing products and services.

Intuit's consumer platform helps customers do their taxes with ease and confidence and improve their financial success, from credit building to wealth building, with tax and personal financial management products.

For accounting professionals, we provide professional tax and financial management products and services.

[Table](#i581672766df440d3b4e85441bf1f5b75_7) [of Contents](#i581672766df440d3b4e85441bf1f5b75_7)

The era of AI is igniting global innovations at an incredible pace and will fundamentally transform every part of our work and personal lives.

We made an early bet on AI, declaring our AI-driven expert platform strategy in 2019.

We have transformed the company from a tax and accounting platform to an AI-driven expert platform.

We have a significant competitive advantage with our scale of data, data services, AI capabilities, ecosystem of applications, and our large network of AI-enabled human experts to become the all-in-one platform for consumers, businesses, and accountants.

We're disrupting the categories we operate in to drive better money outcomes for our customers.

We leverage AI and human intelligence to provide our customers with done-for-you experiences that automate tasks, identify actionable insights to drive important decisions, and manage end-to-end workflows or entire processes to eliminate work, while ensuring the customer remains in control.

When customers need additional help or want help to complete the work on their behalf, we connect them with the best human expert from our network of thousands of AI-enabled financial, tax, and bookkeeping experts who can complete a specific task, address specialized questions, or manage the entire workload.

In fiscal 2025, we launched a transformative set of AI agents that provide customers with a virtual team to complete jobs on their behalf, dramatically improving how businesses run and grow.

Combined with our AI-enabled human experts, these agents are automating workflows and delivering real-time insights to drive growth and improve cash flow.

Our redesigned user interface and new business feed highlights these real-time insights and recommendations and the tasks completed by agents on behalf of the customer.

We also launched AI agents in Intuit Enterprise Suite, including accounting, payments, finance, and project management agents, transforming how our small and mid-market business customers manage their finances by automating a variety of day-to-day tasks, and increasing productivity.

Our innovation has been possible with the investments in our proprietary Generative AI Operating System (GenOS), which have enabled us to fuel innovation with unparalleled speed for our customers.

Built for our internal developers, GenOS not only keeps pace with rapid technological industry advances but is setting the pace—by melding the best of artificial intelligence and human intelligence on our platform.

This enables us to rapidly deliver a new class of intelligent, autonomous financial solutions that will define the next decade of growth for our customers and for Intuit.

Our AI-driven expert platform and products are built in keeping with the company’s commitment to data privacy, security, and responsible AI governance.

We safeguard customer data and protect privacy using industry-leading technology and practices, and adhere to responsible AI principles that guide how we operate and scale our platform with our customers’ best interests in mind.

We have driven significant momentum across the company over the past year.

[Tables of Contents](#iadadc3be278e4dd1be33298e6b75c612_7)

| | | | | | | | | | | | | | | |

(Check one)

| | | |

| --- | --- | --- |

| | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| [PART I](#iadadc3be278e4dd1be33298e6b75c612_10) | | | | | | | | | | | |

| [I](#iadadc3be278e4dd1be33298e6b75c612_1649267443652)[TEM 1C:](#iadadc3be278e4dd1be33298e6b75c612_1649267443652) | | | [C](#iadadc3be278e4dd1be33298e6b75c612_1649267443652)[ybersecurity](#iadadc3be278e4dd1be33298e6b75c612_1649267443652) | | | | | | [29](#iadadc3be278e4dd1be33298e6b75c612_1649267443652) | | |

| [PART II](#iadadc3be278e4dd1be33298e6b75c612_76) | | | | | | | | | | | |

| [ITEM 9B:](#iadadc3be278e4dd1be33298e6b75c612_217) | | | [Other Information](#iadadc3be278e4dd1be33298e6b75c612_217) | | | | | | [102](#iadadc3be278e4dd1be33298e6b75c612_217) | | |

| [PART III](#iadadc3be278e4dd1be33298e6b75c612_223) | | | | | | | | | | | |

| [ITEM 11:](#iadadc3be278e4dd1be33298e6b75c612_229) | | | [Executive Compensation](#iadadc3be278e4dd1be33298e6b75c612_229) | | | | | | [103](#iadadc3be278e4dd1be33298e6b75c612_229) | | |

| [ITEM 16](#iadadc3be278e4dd1be33298e6b75c612_247): | | | [Form 10-K Summary](#iadadc3be278e4dd1be33298e6b75c612_247) | | | | | | [108](#iadadc3be278e4dd1be33298e6b75c612_247) | | |

| | | | [Signatures](#iadadc3be278e4dd1be33298e6b75c612_250) | | | | | | [109](#iadadc3be278e4dd1be33298e6b75c612_250) | | |

Our platform helps consumers and small and mid-market businesses prosper by delivering financial management, compliance, and marketing products and services.

We also provide specialized tax products to accounting professionals, who are key partners that help us serve small and mid-market business customers.

Across our platform, we use the power of data and artificial intelligence (AI) to deliver three core benefits to our customers: helping put more money in their pockets, saving them time by eliminating work, and ensuring that they have complete confidence in every financial decision they make.

We help consumers do their taxes with ease and confidence, understand their financial picture, build credit, save more to make ends meet, get their largest tax refund, pay off debt, and receive personalized suggestions on how to grow their money.

We help small and mid-market businesses grow and run their business all in one place, including bookkeeping, getting paid, accessing capital, paying employees, getting and retaining customers, and managing their customer relationships.

We serve approximately 100 million customers and generated revenue of $16.3 billion in our fiscal year ended July 31, 2024.

The era of AI is one of the most significant technological shifts in decades, igniting global innovations at incredible pace.

Intuit made an early bet on AI, declaring its AI-driven expert platform strategy in 2019 to deliver on its mission of powering prosperity for consumers and small and mid-market businesses.

Our scale of data, our investment in AI capabilities such as knowledge engineering, machine learning, and generative AI (GenAI), and our network of AI-powered virtual experts give us significant advantage as we deliver reimagined customer experiences.

With the introduction of GenAI, we are transforming how we strive to serve our customers by delivering “done for you” experiences, where we do the hard work for them, and connecting them with AI-powered human expertise to fuel their

success.

We use powerful and relevant contextual data sets spanning small business, consumer finance, and tax to deliver personalized financial insights to customers across our platform.

Additionally, our investment in AI, GenAI, data, and world-class developer tools in particular, provides a foundation for us to accelerate productivity, innovate at scale, and move with speed to deliver benefits to our customers.

This includes utilizing our own financial large language models (LLMs), as well as models from other leaders in GenAI, which together unlock new opportunities to serve our customers with accuracy and speed in a cost-efficient way.

These priorities focus on solving the problems that matter most to customers and include:

- Revolutionizing speed to benefit: When customers use our products and services, we use the power of AI to deliver value instantly and aim to make interactions with our offerings frictionless, without the need for customers to manually enter data.

We are accelerating the application of AI to deliver “done for you” experiences to our customers.

This is foundational, and execution against this priority positions us to succeed with our other four Big Bets.

- Connecting people to experts: The largest problem our customers face is lack of confidence to file their own taxes or to manage their books.

To build their confidence, we connect our customers to experts.

We offer customers access to experts to help them make important decisions – and experts, such as accountants, gain access to new customers so they can grow their businesses.

We are also expanding our virtual expert network and broadening the segments we serve beyond tax and accounting to play a more meaningful role in our customers’ financial lives.

- Unlocking smart money decisions: To address the challenges of high-cost debt and lack of savings, we are creating a comprehensive, self-driving financial platform with Credit Karma that propels our members forward wherever they are on their financial journey, so they can understand their financial picture, make smart financial decisions, and stick to their financial plan in the near term and long term.

- Be the center of small business growth: Globally, we are focused on helping customers grow their businesses by offering a broad, seamless set of tools that are designed to help them get and retain customers, get paid faster, manage and get access to capital, pay employees with confidence, and use third-party apps to help run their businesses.

Our money solutions enable customers to manage their money and improve cash flow.