INTU 10-Q for Q3 FY2026 filed 2026-05-20 | Key takeaways
INTU filed its 10-Q; the most relevant disclosure change is added subsequent events: 2026 Plan: In May 2026, management approved a plan to simplify organizational structure through workforce reductions and site closures; estimated restructuring charges of $300 million to $340 million, primarily in Q4 FY2026 ending July 31, 2026; actions expect.
Guidance updates
Forward guidance
Key takeaways
Q3 FY2026 revenue $8.56B (+10.4% YoY) with net income $3.06B and EPS $11.09, both up approximately 9-11% YoY
FY2026 total company revenue guidance raised to $21.3B-$21.5B, approximately $200M higher at midpoint
2026 Plan: subsequent event disclosed management-approved restructuring with estimated charges of $300M-$340M, expected primarily in Q4 FY2026 and substantially complete by Q1 FY2027
Segment reorganization effective August 1, 2025 consolidates Consumer, Credit Karma, and ProTax into single Consumer segment
Global Business Solutions revenue $3.29B (+15.3% YoY) outpaced overall company growth in Q3
Credit Karma revenue $631M (+14.9% YoY) continues strong growth trajectory
Long-term debt decreased to $5.4B from $5.97B; short-term debt of $750M added as of April 30, 2026
Key metrics
Disclosure changes
- subsequent_events
2026 Plan: In May 2026, management approved a plan to simplify organizational structure through workforce reductions and site closures; estimated restructuring charges of $300 million to $340 million, primarily in Q4 FY2026 ending July 31, 2026; actions expected substantially complete by Q1 FY2027
Material restructuring charge expected in Q4 FY2026 will impact near-term profitability; workforce reduction and site closures indicate strategic shift toward leaner operations - segment_disclosure
Effective August 1, 2025, combined Consumer, Credit Karma, and ProTax businesses into single Consumer segment; certain platform-level expenses recast to corporate; data science teams moved from platform to segment level
Segment structure changes affect comparability of segment revenue and operating income; recast expenses of $1M-$7M (GBS) and $155M-$456M (Consumer) reclassified to corporate - customer_concentration
No customer accounted for 10% or more of total net revenue in three or nine months ended April 30, 2026 or April 30, 2025; no customer accounted for 10% or more of gross accounts receivable as of April 30, 2026 or July 31, 2025
Low customer concentration risk; no material change - liquidity_debt
Short-term debt of $750M as of April 30, 2026 (nil as of July 31, 2025); long-term debt decreased to $5,412M from $5,973M
Increase in short-term debt may reflect refinancing or working capital needs
Primary source
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