Intuit expects 2027 revenue to ‘decelerate,’ CFO says

Dive Brief:

TurboTax and Mailchimp operator Intuit expects revenue for its full year 2027 to decelerate as the company focuses on boosting customer growth, CFO Sandeep Aujla said Tuesday.
For fiscal 2027, the company expects total company revenue between $23.2 billion to $23.5 billion, or growth between nine percent and 10%, Aujla said during the company’s fourth quarter and full year fiscal 2026 earnings call. For the full fiscal year 2026, Intuit reported $21.4 billion in revenue, a 14% jump year-over-year, according to its earnings report.
The slowing will be primarily driven by the company’s Desktop Ecosystem, TurboTax and Credit Karma products, he said. “Our guidance reflects deliberate choices to accelerate customer growth, increase market share, and strengthen the long-term durability of our growth model,” Aujla said.

Dive Insight:

Intuit’s guidance comes as the Mountain View, California-based software company, which operates Quickbooks and Credit Karma among other services, continues to invest in artificial intelligence.

Intuit CEO Sasan Goodarzi sees the company’s 2027 guidance as a way of “resetting expectations,” he said in response to an analyst question on what underpinned the company’s confidence that 2026 was the “bottom of the J curve” and that the business is not experiencing structural changes, perhaps due to AI.

The current environment is the “perfect time” for such a reset, as the company can “play offense,” Goodarzi said. Intuit is going to continue to scale its “three big bets,” but, at the same time, “with all of our AI investments we are making to make our experiences far better, we are really doubling down in core areas where I am personally dissatisfied and hold myself accountable for the lack of performance, which is DIY tax, and on the low end in the business group,” the CEO said.

The software business has moved to integrate AI across its products with the aim at building out what Goodarzi termed “always-on financial intelligence.”

AI can be tapped to create real-time, rather than monthly financial reporting, removing manual work from the to-do lists of finance employees during the close process, Ashley Still, Intuit’s EVP and general manager for its mid-market business, previously told CFO Dive. Such manual work — including report stitching, reconciliation and exports — should be “largely invisible” in the next five years, Still said.

Scaling out its AI-native platform is one of three "big bets" Intuit is looking to make, along with accelerating its impact in the mid-market space and becoming the “center of money” for consumers and businesses, according to a May press releas

The company earlier this month announced it would be bringing conversational AI, including its Intuit Intelligence Chatbot, into its mid-market platform for accounting professionals and CFOs, according to an Aug. 12 press release. The business is also focused on bringing AI into consumer-facing products such as TurboTax and Credit Karma, according to company releases.

During its fiscal Q4 the business also “significantly increased” its share repurchases, repurchasing $2.1 billion in stock during the period — a 179% jump from the prior year period, Aujla said. Intuit anticipates share repurchases will remain a key part of its capital allocation strategy throughout its fiscal 2027, he said.

As well as its fiscal 2027 guidance, Intuit also announced several reporting changes it will be making to its financial results moving forward.

Intuit will report Mailchimp — its email and marketing campaign service — as its own operating segment, separate from its Global Business Solutions, effective as of fiscal 2027, Aujla said. Intuit anticipates revenue for Mailchimp will be down approximately 1% YoY for fiscal 2027.

“As we realigned our internal structure under which Mailchimp is managed, we are focused on maximizing its value and delivering strong profitability,” he said.

Secondly, the company will no longer exclude share-based compensation as part of its non-GAAP financial measures, which the company believes will reflect its core operating results, the CFO said. Doing so also “reinforces our focus on managing all expenses and driving operating leverage over time,” he said.

Both changes are reflected in Intuit’s guidance for the full-year of fiscal 2027 and its first quarter, Aujla said.