Intuit Stock Price, News & Analysis

Intuit (NASDAQ: INTU) has officially opened its new Canadian headquarters in Toronto, located at 'The Well' on Front Street West. This innovative 116,000 square foot office is designed to enhance hybrid work culture and foster collaboration among employees. David Marquis, VP and Canada country manager, emphasized the company's commitment to investing in growth and leveraging Toronto's rich talent pool, which ranks as North America's third-largest tech hub. The new office features diverse spaces for focus, collaboration, and wellness, affirming Intuit's aim to empower employees and communities.

NEXT Insurance and Intuit have partnered to launch NEXT Connect, an embedded insurance solution within QuickBooks. This offering allows small businesses to access digital insurance products directly from their QuickBooks accounts, facilitating quotes and coverage binding without leaving the platform. The embedded solution includes a pay-as-you-go workers' compensation option, enhancing cash flow management for small businesses. This initiative aims to address the unique needs of small businesses in light of economic challenges, providing customizable coverage aligned with payroll.

Intuit (Nasdaq: INTU) will hold its annual Investor Day on Sept. 29, at 8:00 a.m. Pacific time at its Mountain View, CA headquarters. CEO Sasan Goodarzi and CFO Michelle Clatterbuck will discuss the company's strategy for fiscal year 2023, which runs from August 1, 2022 to July 31, 2023. The event will be webcast live and available for replay on Intuit’s website two hours after the meeting concludes. Intuit serves over 100 million customers globally through its financial technology products including TurboTax and QuickBooks.

Intuit (Nasdaq: INTU) announced that CEO Sasan Goodarzi will present at the Goldman Sachs TMT Conference on September 13, starting at 10:00 a.m. Pacific time. This presentation will be accessible via a live audio webcast on Intuit’s investor relations website and a replay will be available approximately 24 hours after the presentation concludes. Intuit is a leading global financial technology platform, serving over 100 million customers worldwide with products like TurboTax and QuickBooks.

Intuit has launched the Intuit Tax Advisor (ITA), a new tool for tax professionals aimed at enhancing tax planning and advisory services. ITA integrates with existing Intuit software like Lacerte and ProConnect Tax, offering personalized reports for clients to maximize tax savings. The tool aims to simplify the planning process, reduce errors, and allows for unlimited tax plans for clients with a single credit purchase, including three free credits in 2022.

Intuit reported a strong financial performance for fiscal year 2022, achieving a 32% revenue growth to $12.7 billion, bolstered by the addition of Mailchimp. The Small Business and Self-Employed Group saw revenue increase by 38%, while the Online Ecosystem revenue surged 61%. In Q4, however, total revenue fell 6% to $2.4 billion, impacted by an earlier IRS tax filing deadline. GAAP EPS declined 4% while non-GAAP EPS grew 22%. The company maintained a cash balance of $3.3 billion and approved a $2 billion share repurchase program, reflecting confidence in its long-term strategy.

Knowify has launched the Knowify Connector, enhancing integration with QuickBooks Online Advanced for construction project management. This tool aims to streamline financial management by allowing users to sync data in nearly real-time, reducing double entry and improving data quality. Users can conveniently monitor project profitability and manage costs, enhancing collaboration between project managers and financial teams. The Connector is available at no additional cost for existing users of both platforms.