Intuit 10-Q 2023-10-31

Filed 2023-11-28. 1 sections, 311K characters. Original on sec.gov · Markdown · JSON

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________________________

FORM 10-Q

☑Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended October 31, 2023

OR

☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from ____________ to ____________ .

Commission File Number 0-21180

INTUITLOCKUP082522.jpg

INTUIT INC.

(Exact name of registrant as specified in its charter)

Delaware77-0034661
(State or other jurisdiction of incorporation or organization)(IRS Employer Identification No.)

2700 Coast Avenue, Mountain View, CA 94043

(Address of principal executive offices, including zip code)

(650) 944-6000

(Registrant’s telephone number, including area code)

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

Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par valueINTUNasdaq Global Select Market

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 reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐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. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. The number of shares (in thousands) of Common Stock, $0.01 par value, outstanding as of November 20, 2023 was 279,936.

INTUIT INC. FORM 10-Q INDEX
Page
PART I - FINANCIAL INFORMATION
ITEM 1: Financial Statements (Unaudited)
Condensed Consolidated Statements of Operations for the three months ended October 31, 2023 and 20224
Condensed Consolidated Statements of Comprehensive Income for the three months ended October 31, 2023 and 20225
Condensed Consolidated Balance Sheets at October 31, 2023 and July 31, 20236
Condensed Consolidated Statements of Stockholders’ Equity for the three months ended October 31, 2023 and 20227
Condensed Consolidated Statements of Cash Flows for the three months ended October 31, 2023 and 20228
Notes to Condensed Consolidated Financial Statements10
ITEM 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations28
ITEM 3: Quantitative and Qualitative Disclosures about Market Risk44
ITEM 4: Controls and Procedures44
PART II - OTHER INFORMATION
ITEM 1: Legal Proceedings45
ITEM 1A: Risk Factors45
ITEM 2: Unregistered Sales of Equity Securities and Use of Proceeds59
ITEM 5: Other Information59
ITEM 6: Exhibits59
Signatures60

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