Intuit 10-Q 2025-04-30

Filed 2025-05-22. 1 sections, 338K 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 April 30, 2025

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 May 15, 2025 was 278,947.

INTUIT INC. FORM 10-Q INDEX
Page
PART I - FINANCIAL INFORMATION
ITEM 1: Financial Statements (Unaudited)
Condensed Consolidated Statements of Operations for the three and nine months ended April 30, 2025 and 20244
Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended April 30, 2025 and 20245
Condensed Consolidated Balance Sheets at April 30, 2025 and July 31, 20246
Condensed Consolidated Statements of Stockholders’ Equity for the three and nine months ended April 30, 2025 and 20247
Condensed Consolidated Statements of Cash Flows for the nine months ended April 30, 2025 and 20249
Notes to Condensed Consolidated Financial Statements11
ITEM 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations32
ITEM 3: Quantitative and Qualitative Disclosures about Market Risk49
ITEM 4: Controls and Procedures50
PART II - OTHER INFORMATION
ITEM 1: Legal Proceedings51
ITEM 1A: Risk Factors51
ITEM 2: Unregistered Sales of Equity Securities and Use of Proceeds65
ITEM 5: Other Information65
ITEM 6: Exhibits65
Signatures66

Intuit, QuickBooks, TurboTax, Credit Karma, and Mailchimp, among others, are registered trademarks and/or registered service marks of Intuit Inc., or one of its subsidiaries, in the United States and other countries. Other parties’ marks are the property of their respective owners.

Intuit Q3 Fiscal 2025 Form 10-Q2

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