Amid external market volatility, Intuit\u2019s senior leadership team is reiterating confidence in the company\u2019s strategy and long-term growth trajectory. Management believes Intuit\u2019s current stock price is meaningfully misaligned with the company\u2019s fundamental value. To underscore their strong conviction, Intuit\u2019s executive leadership team and company founder are terminating all outstanding pre-scheduled stock sale plans established under Rule 10b5-1. This action builds on the aggressive share repurchase program shared in Intuit\u2019s second quarter 10-Q filing on February 26.<\/p>\n\n\n\n
\u201cIn our category, consumers and businesses make high-stakes financial decisions where accuracy, compliance, security, and trust are critical and the liability of getting it wrong is high. That\u2019s why customers demand human expertise \u2013 customers buy confidence, not code, hence spend at least seven times more on accounting & tax human experts than software. Our AI-driven expert platform combines the power of technology and AI-powered human experts all in one place to deliver done-for-you experiences and complete confidence,\u201d said Sasan Goodarzi, chairman and chief executive officer of Intuit.<\/p>\n\n\n\n
Goodarzi continued, \u201cWith the combination of data, AI, and human intelligence, we are expanding our addressable market beyond the software category and becoming the AI-fueled human interface that customers demand to have complete confidence, all while scaling ARPC and expanding margin, resulting in accelerated growth. We are more confident than ever in our game plan to win the interface layer that matters most to our customers.\u201d<\/p>\n\n\n\n
In the first half of its fiscal year, the company repurchased $1.8 billion of Intuit shares, a 40 percent increase compared to prior year. Intuit intends to substantially accelerate repurchases utilizing up to the $3.5 billion that remained under its current authorization at the end of the second quarter of fiscal year 2026, which ended January 31. Under current market conditions, executing on the remaining authorization would approximately double the first half repurchase pace and nearly double full-year buybacks compared to the prior year. Repurchases under the remaining authorization, together with expected dividends, would represent a substantial increase in capital returned to shareholders in fiscal year 2026.<\/p>\n\n\n\n
The expansion of Intuit\u2019s share repurchase program is supported by a long history of disciplined execution as evidenced by our accelerating revenue growth, our strong cash generation, and shareholder returns.<\/p>\n\n\n\n
This is the next chapter of Intuit: service as software, built on data, AI, and human intelligence, delivering double-digit revenue growth with expanding margins.<\/p>\n\n\n\n
This blog contains forward-looking statements, including expectations regarding the amount, timing and impact of any future share repurchases and dividends; forecasts and timing of growth and future financial results; Intuit\u2019s prospects for the business in fiscal 2026 and beyond; and innovation across our ecosystem.<\/p>\n\n\n\n
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. These risks and uncertainties may be amplified by the effects of global developments and conditions or events, including macroeconomic uncertainty and geopolitical conditions, which have caused significant global economic instability and uncertainty. Given these risks and uncertainties, persons reading this communication are cautioned not to place any undue reliance on such forward-looking statements. These factors include, without limitation, the following: our ability to compete successfully; potential governmental encroachment in our tax business; our ability to develop, deploy, and use artificial intelligence in our platform and offerings; our ability to adapt to technological change and to successfully extend our platform; our ability to predict consumer behavior; our ability to anticipate and solve new and existing customer problems; our reliance on intellectual property; our ability to protect our intellectual property rights; any harm to our reputation; risks associated with our environmental, social, and governance efforts; risks associated with acquisition and divestiture activity; the issuance of equity or incurrence of debt to fund acquisitions or for general business purposes; cybersecurity incidents (including those affecting the third parties we rely on); customer or regulator concerns about privacy and cybersecurity incidents; fraudulent activities by third parties, including through the use of AI; our failure to process transactions effectively; interruption or failure of our information technology; our ability to develop and maintain critical third-party business relationships; our ability to attract and retain talent and the success of our hybrid work model; our ability to effectively develop and deploy AI in our offerings; any deficiency in the quality or accuracy of our offerings (including the advice given by experts on our platform); any delays in product launches; difficulties in processing or filing customer tax submissions; risks associated with international operations; risks associated with climate change; changes to, and evolving interpretations of public policy, laws, or regulations affecting our businesses; allegations of legal claims and legal proceedings in which we are involved; fluctuations in the results of our tax business due to seasonality and other factors beyond our control; changes in tax rates and tax reform legislation; global economic conditions (including, without limitation, inflation); exposure to credit, counterparty, and other risks in providing capital to businesses; amortization of acquired intangible assets and impairment charges; our ability to repay or otherwise comply with the terms of our outstanding debt; our ability to repurchase shares or distribute dividends; volatility of our stock price; and our ability to successfully market our offerings.<\/p>\n\n\n\n