IntuitINTU

01QuickBooks Online functions as a sticky system-of-record for small and mid-market businesses, and once customers adopt it they layer on payroll, payments, capital, and workforce services that auto-reconcile with the books—driving 15% ARPU expansion even as customer growth slows to 3%. The expanding attach of adjacent money services deepens switching costs and creates a compounding revenue loop that competitors offering point solutions cannot replicate.

02Credit Karma revenue increased $441 million in fiscal 2026 compared with fiscal 2025 driven by increases in personal loan vertical of $235 million, credit card vertical of $101 million, and insurance vertical of $85 million Credit Karma leverages Lightbox, a differentiated proprietary technology that allows participating lenders to apply their own decisioning models, together with thousands of de-identified data attributes from Credit Karma users, to provide them with even greater certainty of their approval odds for applicable financial products Cost-per-action revenue is earned based on a predetermined fee for approved actions, such as when credit cards are issued or when personal loans and other loans to businesses are funded

03TurboTax is migrating customers from low-ARPU DIY filing into higher-ARPU assisted and full-service tiers by deploying AI agents that triage complexity and escalate to human experts only when needed. This blended model allows Intuit to capture professional-services pricing while keeping labor costs variable, widening unit economics as the assisted mix grows.

04We purchased business loans from our originating bank partner with principal balances in the amount of $6.2 billion in fiscal 2026 compared with $3.5 billion in fiscal 2025 Money revenue increased $434 million reflecting a $257 million increase in payments revenue and a $177 million increase from QuickBooks Capital due to increased loan volume We have entered into multiple forward flow arrangements with institutional investors that facilitate the sale of participation interests in eligible unsecured business loans with expiration dates ranging from 2027 to 2030 The total unpaid principal balance of business loans sold during the twelve months ended July 31, 2026 amounted to $2.1 billion