# Intuit Inc. (INTU) Q4 2025 Financial Results Summary
Released on August 21, 2025, Intuit Inc. has reported its financial results for the fourth quarter and full fiscal year 2025, which ended on July 31, 2025.
## Financial Highlights
### Full Year Fiscal 2025 Results
– **Total Revenue:** $18.8 billion, up **16%** year-over-year.
– **Combined Platform Revenue:** $14.9 billion, an increase of **19%**.
– **Global Business Solutions Group Revenue:**
– Total: $11.1 billion, up **16%**.
– Online Ecosystem Revenue: $8.3 billion, up **20%**.
– Excluding Mailchimp:
– Global Business Solutions Group Revenue: up **18%**.
– Online Ecosystem Revenue: up **25%**.
– **Consumer Group Revenue:** $4.9 billion, up **10%**.
– TurboTax Live Revenue: $2.0 billion, an increase of **47%**.
– **Credit Karma Revenue:** $2.3 billion, up **32%**.
– **GAAP Operating Income:** $4.9 billion, a growth of **36%**.
– **Non-GAAP Operating Income:** $7.6 billion, reflecting an increase of **18%**.
– **GAAP Earnings Per Share (EPS):** $13.67, up **31%**.
– **Non-GAAP EPS:** $20.15, up **19%**.
### Fourth Quarter Results
– **Total Revenue:** $3.8 billion, up **20%**.
– **Global Business Solutions Group Revenue:**
– Total: $3.0 billion, increased by **18%**.
– Online Ecosystem Revenue: $2.2 billion, up **21%**.
– Excluding Mailchimp:
– Global Business Solutions Group Revenue: up **21%**.
– Online Ecosystem Revenue: up **26%**.
– **Credit Karma Revenue:** $649 million, an increase of **34%**.
– **Consumer Group Revenue:** $137 million, up **21%**.
### Operating Performance
– **Quarterly Operating Income:**
– GAAP: $339 million (previous year loss of $151 million).
– Non-GAAP: $1.016 billion, an increase of **39%**.
– **Quarterly Earnings Per Share:**
– GAAP: $1.35 (previous year loss of $0.07).
– Non-GAAP: $2.75, an increase of **38%**.
## Capital Allocation
– **Stock Repurchase:** $2.8 billion of stock repurchased in fiscal year 2025.
– New repurchase authorization: $3.2 billion, totaling $5.3 billion.
– **Quarterly Dividend:** Declared at $1.20 per share, a **15%** increase compared to the previous year.
## Business Segment Performance
### Global Business Solutions Group
– **Overall Revenue Growth:** **18%** in Q4 and **16%** for FY25.
– **QuickBooks Online Revenue:** Up **23%** in Q4 and **22%** for FY25.
– **Online Services Revenue:** Grew **19%** for the quarter and year.
### Consumer and ProTax Groups
– **Consumer Group Revenue:** Grew **10%** for the year.
– **ProTax Group Revenue:** Up **4%** for the year.
### Credit Karma
– **Yearly Growth:** **32%**, driven primarily by personal loans, credit cards, and auto insurance.
## Financial Position and Guidance
– **Total Cash and Investments Balance:** Approximately $4.6 billion.
– **Total Debt:** $6.0 billion as of July 31, 2025.
### Forward-looking Guidance for Fiscal Year 2026:
– **Expected Revenue:** $20.997 billion to $21.186 billion, growth of **12-13%**.
– **GAAP Operating Income:** $5.782 billion to $5.859 billion, growth of **17-19%**.
– **Non-GAAP Operating Income:** $8.611 billion to $8.688 billion, growth of **14-15%**.
– **GAAP Diluted EPS:** $15.49 to $15.69, growth of **13-15%**.
– **Non-GAAP Diluted EPS:** $22.98 to $23.18, growth of **14-15%**.
### First Quarter of Fiscal Year 2026 Guidance
– **Revenue Growth:** Approximately **14-15%**.
– **GAAP EPS:** $1.19 to $1.26.
– **Non-GAAP Diluted EPS:** $3.05 to $3.12.
## Concluding Remarks
Intuit’s strong growth in Q4 and fiscal year 2025 indicates robust demand for its financial technology services, driven by innovation in its product offerings and a growing consumer base.
### GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
| Three Months Ended | Twelve Months Ended | |||
|---|---|---|---|---|
| July 31, 2025 | July 31, 2024 | July 31, 2025 | July 31, 2024 | |
| Net revenue: | ||||
| Service | $3,291 | $2,670 | $16,400 | $13,861 |
| Product and other | 540 | 514 | 2,431 | 2,424 |
| Total net revenue | 3,831 | 3,184 | 18,831 | 16,285 |
| Costs and expenses: | ||||
| Cost of revenue: | ||||
| Cost of service revenue | 834 | 733 | 3,624 | 3,250 |
| Cost of product and other | 16 | 14 | 68 | 69 |
| Amortization of acquired technology | 44 | 36 | 156 | 146 |
| Selling and marketing | 1,251 | 1,104 | 5,035 | 4,312 |
| Research and development | 801 | 725 | 2,928 | 2,754 |
| General and administrative | 424 | 377 | 1,601 | 1,418 |
| Amortization of other acquired intangible assets | 121 | 123 | 481 | 483 |
| Restructuring | 1 | 223 | 15 | 223 |
| Total costs and expenses [A] | 3,492 | 3,335 | 13,908 | 12,655 |
| Operating income (loss) | 339 | -151 | 4,923 | 3,630 |
| Interest expense | -59 | -60 | -247 | -242 |
| Interest and other income, net | 86 | 71 | 158 | 162 |
| Income (loss) before income taxes | 366 | -140 | 4,834 | 3,550 |
| Income tax (benefit) provision [B] | -15 | -120 | 965 | 587 |
| Net income (loss) | $381 | -20 | $3,869 | $2,963 |
| 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 |
—
### CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
| July 31, 2025 | July 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $2,884 | $3,609 |
| Investments | 1,668 | 465 |
| Accounts receivable, net | 530 | 457 |
| Notes receivable held for investment, net | 1,403 | 779 |
| Notes receivable held for sale | — | 3 |
| Income taxes receivable | 50 | 78 |
| Prepaid expenses and other current assets | 496 | 366 |
| Current assets before funds receivable and amounts held for customers | 7,031 | 5,757 |
| Funds receivable and amounts held for customers | 7,076 | 3,921 |
| Total current assets | 14,107 | 9,678 |
| Long-term investments | 94 | 131 |
| Property and equipment, net | 961 | 1,009 |
| Operating lease right-of-use assets | 541 | 411 |
| Goodwill | 13,980 | 13,844 |
| Acquired intangible assets, net | 5,302 | 5,820 |
| Long-term deferred income tax assets | 1,222 | 698 |
| Other assets | 751 | 541 |
| Total assets | $36,958 | $32,132 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Short-term debt | $— | $499 |
| Accounts payable | 792 | 721 |
| Accrued compensation and related liabilities | 858 | 921 |
| Deferred revenue | 1,019 | 872 |
| Other current liabilities | 625 | 557 |
| Current liabilities before funds payable and amounts due to customers | 3,294 | 3,570 |
| Funds payable and amounts due to customers | 7,076 | 3,921 |
| Total current liabilities | 10,370 | 7,491 |
| Long-term debt | 5,973 | 5,539 |
| Operating lease liabilities | 597 | 458 |
| Other long-term obligations | 308 | 208 |
| Total liabilities | 17,248 | 13,696 |
| Stockholders’ equity | 19,710 | 18,436 |
| Total liabilities and stockholders’ equity | $36,958 | $32,132 |
