Intuit (NASDAQ:INTU) used its 2026 Investor Day to outline a strategy centered on scaling its AI-driven “Intuit Intelligence” platform, expanding its mid-market and assisted-tax businesses, and restoring new customer growth after falling short of internal targets in fiscal 2026.
Chairman and CEO Sasan Goodarzi said the company delivered strong overall results, supported by its three major growth bets: assisted tax, money benefits and mid-market offerings. Together, those businesses account for about 30% of Intuit’s revenue and are growing about 30%, he said. However, Intuit did not meet its new-customer targets, particularly in do-it-yourself tax filing and its core QuickBooks Online business.
AI platform and customer-growth priorities
Goodarzi described Intuit Intelligence as a financial system of intelligence built on permissioned customer data, financial and industry expertise, and AI and human-intelligence capabilities. The company said it has data on 10 million businesses, averaging more than 625,000 data points per business.
Intuit plans to make most of its DIY tax-preparation experience AI-native for the coming tax season. Under that approach, AI would gather data, prepare tax returns and answer customer questions, while customers review and approve outcomes. In assisted tax, Intuit plans to use AI to automate preparation work while tax experts review, sign and take accountability for returns.
Chief Technology Officer Alex Balazs said Intuit has integrated with more than 60 large language models and uses different AI models, traditional machine learning, deterministic code and human oversight depending on the task. He said Intuit’s product-development transformation improved coding velocity by 40% during its first 90 days while reducing failure rates by 31%.
Balazs also said 70% of Intuit’s code pull requests were delivered by AI and that the company is on pace to double development velocity by the end of the fiscal year.
The company identified two main priorities: scaling its existing growth bets and accelerating new-customer acquisition. Intuit plans to broaden entry points through offerings including QuickBooks Free, QuickBooks Lite, money-related front doors, expanded local presence and partnerships with large language model providers.
Business platform targets mid-market, payments and accountants
Ashley Still, executive vice president and general manager of Intuit’s Small Business and Mid-Market Group, said the business platform grew nearly 18% to nearly $12 billion in fiscal 2026. Mid-market revenue and money-related offerings each grew more than 30%, she said.
David Hahn, executive vice president and general manager of Intuit’s Services Group, said Intuit ended the fiscal year with nearly 8 million online paid customers, up 4% year over year, while retention remained at 83%. He said Intuit’s online-services revenue grew 24%, including 31% growth in its money portfolio and 17% growth in workforce solutions.
Intuit said it will seek to gain customers through lower-friction offerings aimed at businesses that do not yet use financial-management software. In the first six months after launch, 20,000 customers were actively using QuickBooks Free, converting to paid offerings or using payments services, Hahn said.
- Payments and bill-pay volume totaled $229 billion, up 30%.
- Payroll volume totaled $355 billion.
- Bill-pay volume reached $54 billion, up 89% year over year.
- Capital loan volume reached $7 billion, up 75% year over year.
Still said mid-market revenue rose 39% and customer growth rose 28% in fiscal 2026. Intuit Enterprise Suite reached nearly $150 million in annualized revenue, a fourfold increase from the prior year. The company plans to expand industry-specific offerings, beginning with construction and extending to manufacturing and nonprofit organizations.
Intuit also emphasized accountants as direct customers rather than solely channel partners. Its Intuit Accountant Suite has been adopted by more than 150,000 accounting firms, according to the company. More than 70% of mid-market businesses work with an external accountant, and 25% of new Intuit Enterprise Suite contracts came from accountant referrals during the year.
The company’s business platform is expected to generate compound annual revenue growth of 10% to 15% over the next three years.
Consumer strategy focuses on Credit Karma and tax share
Mark Notarainni, executive vice president and general manager of Intuit’s Consumer Group, said consumer revenue grew 11% to $8.6 billion in fiscal 2026. Intuit lost one point of IRS e-file share, reflecting weaker-than-needed growth in its DIY tax franchise.
The company plans to position Credit Karma as a year-round entry point for money, tax and personal-finance services. Intuit reported 37.4 million platform customers, up 2%, and average revenue per platform customer of $198, up 11%.
To attract price-sensitive filers, Intuit is expanding Credit Karma Tax, which offers federal filing at no charge and state returns for $15, with no interruptive upsells. The company said a tax-year 2025 pilot generated 80% customer incrementality, meaning most customers would otherwise have been lost, while 34% of Credit Karma Tax Gen Z customers were new to the Credit Karma platform.
Intuit also plans to expand assisted tax through AI-native service experiences, transparent pricing and a local-market expansion of more than 30%. The company said nearly 25% of its full-service tax growth came from a $150 transparent-price offer, while assisted-tax share nearly doubled in fiscal 2026.
The consumer platform is expected to grow revenue at a 4% to 8% compound annual rate over the next three years.
Financial outlook and capital returns
CFO Sandeep Aujla said Intuit’s total revenue increased 14% in fiscal 2026 to more than $21 billion. GAAP operating income and earnings per share each grew 20%, while the company returned nearly 80% of its cash flow to shareholders through dividends and repurchases.
For fiscal 2027, Intuit reaffirmed guidance for companywide revenue growth of 9% to 10%. The business platform is expected to grow 13% to 14%, while the consumer platform is expected to grow 4% to 6%. TurboTax revenue is forecast to rise 2% to 3%, and Credit Karma revenue is expected to increase 11% to 13%.
Intuit expects GAAP margin expansion of 440 basis points and non-GAAP margin expansion of 260 basis points in fiscal 2027. The company also declared a 15% dividend increase and said buybacks would continue to play a meaningful role in its capital-allocation strategy.
Separately, Intuit said that effective Aug. 1, 2026, Mailchimp became a separate reportable segment and share-based compensation is no longer excluded from non-GAAP financial measures. Prior-period measures were revised to reflect those changes.
About Intuit (NASDAQ:INTU)
Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.
Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.
Intuit was founded in 1983 by Scott Cook and Tom Proulx.
