The document provides an overview of Intuit's strategy and addressable market opportunities. Key points include:
- Intuit aims to win worldwide with its QuickBooks Online ecosystem, win with accountants who fuel small business success, and win with TurboTax Online and mobile.
- External shifts in end user contribution, cloud adoption, mobility, and data present strategic implications for Intuit to become a great product and network effects platform company, accelerate global growth through cloud services, and leverage data while ensuring security.
- Intuit is expanding its total addressable market through entering new markets and customer segments with QuickBooks Online, QuickBooks Self-Employed, and by addressing over 65 million small businesses worldwide and 40
This document provides definitions and explanations around the non-GAAP financial measures that are included in Intuit's presentation materials. It explains that non-GAAP measures exclude items such as share-based compensation, amortization of acquired intangibles, impairment charges, and certain other one-time expenses and gains. The purpose is to provide a measure of operating performance that management uses internally and investors can use to analyze the business. A reconciliation of non-GAAP to GAAP measures is included.
The document outlines Intuit's investor day agenda, including presentations on Intuit's growth strategy, financial results and outlook, and key strategic priorities. Brad Smith, Intuit's President and CEO, discusses Intuit's strong fiscal year 2015 financial results and key metrics like QuickBooks Online subscribers. He also reflects on Intuit's overall performance and areas of focus, and outlines Intuit's multi-year strategic goals. The external market shifts of a mobile-first, cloud-driven world and Intuit's strategic implications around becoming a network effects platform company are also summarized.
- Intuit aims to be a premier innovative growth company and accelerate results through delivering awesome product experiences, enabling network effects, using data to create delight, and expanding globally.
- Operational priorities include amazing first use experiences, reimagining mobile-first design, solving multi-sided problems, and enabling customer data.
- The goal is to grow the customer base from 5 million to 10 million in 5 years through offerings like QuickBooks Online globally.
- Intuit is well positioned in tax preparation and aims to accelerate the shift to cloud and mobile experiences.
This document discusses forward-looking statements and non-GAAP financial measures. It cautions that actual results could differ from expectations and refers readers to risk factors in SEC filings. It also explains management's use of non-GAAP measures and provides reconciliations to GAAP measures. The agenda outlines a CEO perspective, discussions of various Intuit business units, and a financial perspective.
- The document discusses Intuit's transition to a cloud and platform business model between FY12-FY16 which successfully increased connected services revenue and global customers. Intuit executed its "Focus & Accelerate" strategy to shift to a product and platform company.
- In FY16, Intuit exceeded financial targets and saw continued momentum with 41% growth in QuickBooks Online subscribers. The CEO reflected that while progress was made, more work is needed in areas like speed, customer delight, and data-driven innovation.
- Looking ahead, Intuit will focus on priorities like delivering awesome product experiences, enabling network effects through contributions from others, using data to create delight, and technology to accelerate growth. The strategy
Intuit provides an overview of its strategy to grow its small business and tax businesses. It aims to [1] win worldwide with its QuickBooks online ecosystem, [2] win with accountants who fuel small business success, and [3] win with TurboTax online and mobile. Intuit sees opportunities for growth in new markets, increasing attach rates of additional services, and continuing to shift customers to online and mobile platforms.
- Intuit aims to become the operating system behind accountant and small business success through its online platform. Its goals are for accountants to waste no hours, for all firms to achieve ideal growth rates, and for small business success to increase by 50%.
- The strategy is to connect small businesses and accountants on one online platform for doing accounting and tax work, collaborating, and gaining insights. This will allow accountants to save time, grow their practices, and make a difference for their clients.
The document discusses:
1. Intuit's strategy of building an open platform to enable small business success through personalized experiences and indispensable connections.
2. Large addressable markets for QuickBooks Online of over 800 million businesses globally that Intuit is pursuing.
3. Growth drivers of TurboTax Online share, revenue per return, and category growth that can deliver long-term 5-10% revenue growth.
This document provides definitions and explanations around the non-GAAP financial measures that are included in Intuit's presentation materials. It explains that non-GAAP measures exclude items such as share-based compensation, amortization of acquired intangibles, impairment charges, and certain other one-time expenses and gains. The purpose is to provide a measure of operating performance that management uses internally and investors can use to analyze the business. A reconciliation of non-GAAP to GAAP measures is included.
The document outlines Intuit's investor day agenda, including presentations on Intuit's growth strategy, financial results and outlook, and key strategic priorities. Brad Smith, Intuit's President and CEO, discusses Intuit's strong fiscal year 2015 financial results and key metrics like QuickBooks Online subscribers. He also reflects on Intuit's overall performance and areas of focus, and outlines Intuit's multi-year strategic goals. The external market shifts of a mobile-first, cloud-driven world and Intuit's strategic implications around becoming a network effects platform company are also summarized.
- Intuit aims to be a premier innovative growth company and accelerate results through delivering awesome product experiences, enabling network effects, using data to create delight, and expanding globally.
- Operational priorities include amazing first use experiences, reimagining mobile-first design, solving multi-sided problems, and enabling customer data.
- The goal is to grow the customer base from 5 million to 10 million in 5 years through offerings like QuickBooks Online globally.
- Intuit is well positioned in tax preparation and aims to accelerate the shift to cloud and mobile experiences.
This document discusses forward-looking statements and non-GAAP financial measures. It cautions that actual results could differ from expectations and refers readers to risk factors in SEC filings. It also explains management's use of non-GAAP measures and provides reconciliations to GAAP measures. The agenda outlines a CEO perspective, discussions of various Intuit business units, and a financial perspective.
- The document discusses Intuit's transition to a cloud and platform business model between FY12-FY16 which successfully increased connected services revenue and global customers. Intuit executed its "Focus & Accelerate" strategy to shift to a product and platform company.
- In FY16, Intuit exceeded financial targets and saw continued momentum with 41% growth in QuickBooks Online subscribers. The CEO reflected that while progress was made, more work is needed in areas like speed, customer delight, and data-driven innovation.
- Looking ahead, Intuit will focus on priorities like delivering awesome product experiences, enabling network effects through contributions from others, using data to create delight, and technology to accelerate growth. The strategy
Intuit provides an overview of its strategy to grow its small business and tax businesses. It aims to [1] win worldwide with its QuickBooks online ecosystem, [2] win with accountants who fuel small business success, and [3] win with TurboTax online and mobile. Intuit sees opportunities for growth in new markets, increasing attach rates of additional services, and continuing to shift customers to online and mobile platforms.
- Intuit aims to become the operating system behind accountant and small business success through its online platform. Its goals are for accountants to waste no hours, for all firms to achieve ideal growth rates, and for small business success to increase by 50%.
- The strategy is to connect small businesses and accountants on one online platform for doing accounting and tax work, collaborating, and gaining insights. This will allow accountants to save time, grow their practices, and make a difference for their clients.
The document discusses:
1. Intuit's strategy of building an open platform to enable small business success through personalized experiences and indispensable connections.
2. Large addressable markets for QuickBooks Online of over 800 million businesses globally that Intuit is pursuing.
3. Growth drivers of TurboTax Online share, revenue per return, and category growth that can deliver long-term 5-10% revenue growth.
The document outlines Intuit's investor day agenda and materials. It includes presentations on Intuit's strategy to win in key areas like the QuickBooks Online ecosystem, TurboTax online and mobile, accountants, technology, data and security. The document reflects on Intuit's successful transition to a cloud and platform business model over the past 4 years and doubling of its total addressable market. It discusses priorities and metrics for the coming year to continue delighting customers through product experiences, data insights, ecosystem contributions and security leadership.
Intuit Investor Overview document provides an overview of Intuit's strategy and performance:
[1] Intuit has transitioned successfully to a cloud-based software and platform business model, growing connected services revenue 36% annually over 5 years while accelerating cloud adoption.
[2] The company has more than doubled its total addressable market opportunity by entering new markets, connecting its ecosystem of products and services, and growing its existing categories.
[3] Key priorities include continuing to grow customer bases for QuickBooks Online and TurboTax Online, while increasing attachment of additional services to deliver more customer value.
This document provides an overview of Intuit's strategy and addressable market opportunities. It discusses Intuit's transition to cloud-based products which is accelerating category adoption. Intuit's customer base grew 14% YoY to over 5 million customers. The strategy is to grow the core products and markets, connect the ecosystem through offerings like e-invoicing and lending, and expand globally by proving the model in countries like Canada, UK, and Australia which now have over 100k subscribers each. This pursues a total addressable market of $145 billion.
The document provides an earnings call summary for AdvancePierre Foods for the third quarter of 2016. It discusses the following key points:
1) The implementation of a CEO succession plan, with Chris Sliva joining as president in November 2016 and succeeding John Simons as CEO in March 2017.
2) Strong third quarter performance with adjusted EBITDA of $79 million, adjusted net income of $35 million, and proactive pricing responses to commodity deflation.
3) Acquisition of Allied Specialty Foods, a competitor in Philly steak products, to expand market position and enhance synergies around raw materials procurement.
4) Financial outlook for 2016 anticipates net sales between $1,
- The document provides an overview of Intuit, including forward-looking statements and metrics. It discusses Intuit's strategy to win with QuickBooks Online, accountants, and TurboTax Online and Mobile.
- Key goals include accelerating QuickBooks Online customer growth, increasing the number of accountants using Intuit's tax and accounting solutions, and growing Intuit's online/mobile share versus rivals in the tax preparation market.
- Intuit aims to expand its total addressable market by entering new markets with QuickBooks and addressing small businesses and self-employed individuals worldwide.
The newspaper conducted a three-month test comparing the forecasting accuracy of YieldEdge and their ad server. YieldEdge proved 10% more accurate in predicting inventory availability. This improved accuracy allowed the newspaper to book more targeted deals with confidence, avoiding overbooking and generating over $60,000 in additional revenue. It also uncovered 320 million unused impressions and provided workflow benefits like reducing time spent on underdelivery issues.
Direct Insite provides cloud-based accounts payable and accounts receivable automation solutions for large global companies. The document discusses Direct Insite's business model, growth strategy, and competitive positioning. It notes their recurring revenue model, growing customer base and transaction volumes, expanding vendor network, and potential to develop new products and revenue streams. The summary highlights consolidation occurring in the industry and sees opportunity for Direct Insite to participate through continued growth.
The document discusses research methods for gaining insights into small and medium-sized businesses (SMBs) to help increase sales to this segment. It outlines both qualitative and quantitative research approaches that can provide information on attitudes, usage, buyer identification, perceptions, segmentation, behaviors and preferences. The analytics output from this research can then inform content, social media, collateral and other marketing programs. Specific awareness initiator events, roles, and content formats that drive SMBs to investigate new products and services are also examined.
This document brings together a set
of latest data points and publicly
available information relevant for
IoT & AR Services Industry. We are
very excited to share this content and
believe that readers will benefit from
this periodic publication immensely
Direct Insite Investor Presentation - September 2013Company Spotlight
Direct Insite Corp. provides cloud-based accounts payable and accounts receivable automation tools to large companies. The presentation discusses the company's SaaS business model, large global supplier network, new customer wins, growing revenues, and cash flow positive position. It highlights growth opportunities through new customers and products, network monetization, and selective acquisitions. The goal is to achieve over 30% revenue growth by automating more of the global $30 trillion invoice market and financial supply chain.
Direct Insite provides cloud-based financial supply chain automation tools for accounts payable and accounts receivable. Their presentation highlights their blue-chip customer base, global supplier network, recent growth, and cash flow positive position. They discuss opportunities in further automating the market and monetizing their supplier network, as well as growth objectives over the next few years such as introducing new products and exploring acquisitions.
AT&T has faced many challenges throughout its history such as competitors infringing on its patents, antitrust lawsuits from the government, and a rapidly evolving industry. However, AT&T has remained a leader in communications technology for over a century by pioneering technologies like pay phones, radio broadcasts, and transatlantic phone cables. Today, AT&T must continue to innovate and provide superior service and devices to consumers to remain competitive against other major carriers like Verizon, Sprint, and T-Mobile in the tightly contested US market. Recent acquisitions of DirecTV and Time Warner will help AT&T expand its video and media offerings internationally and domestically.
Ingram Micro is the world's largest technology distributor, providing products and services to customers in over 150 countries. In the first quarter of 2009, Ingram Micro saw worldwide sales decline 21% to $6.75 billion due to macroeconomic softness. However, the company improved working capital management and ended the quarter with over $1 billion in cash. Looking ahead, Ingram Micro is focused on competitive costs, higher margin businesses, and profitability.
CA World 2010- LA Briefing- Kenneth ArredondoCA Technologies
The document provides an overview of CA and its strategy in Latin America for FY2011. It discusses CA's strong financial performance in FY2010, highlights of its success in Latin America, forecasts for the Latin American IT industry, and CA's strategy to expand its market reach and product portfolio through investments in growth markets, new routes to market, and localized products.
What you need to know about Corporate Travel in 2019CertifyInc
Tech brands are transforming the business travel and expense landscape—and business traveler expectations. Join us as we look at the biggest trends in corporate travel and how finance leaders can create a future-proofed corporate travel policy that will help manage spending and cut costs—while also meeting the needs of business travelers in 2019.
- Intuit reported financial results for Q4 and full fiscal year 2020. Revenue grew to $1.8 billion in Q4, up from $994 million in the prior year. Revenue from the Consumer Group was $710 million, while the Small Business and Self-Employed Group revenue increased 16% to $1.0 billion.
- For the full fiscal year, revenue grew 13% to $7.1 billion. Net income increased 28% to $2.0 billion.
- Intuit expects revenue growth of 6-8% for fiscal year 2021, driven by growth across its business segments and continued innovation.
- Faster growing small and midsize companies are further along in their digital transformations, with over half actively engaged. Effective use of technology to automate functions and optimize processes is associated with better performance.
- While many companies have deployed digital technologies like collaboration software and CRM, effectively coordinating and integrating these resources is important for progressing digital transformations. Successful companies continually invest in improving their use of digital technologies.
- Faster growing companies are more optimistic about the benefits of digital transformation for performance and competition, but also realize challenges in relying too much on data and losing personal customer relationships. Advanced business analytics that provide insights are seen as key to transformation success.
This document provides a summary of a study on how small and midsize enterprises are adapting to digital transformation. Some key findings include:
- Faster growing companies are further along in their digital transformation journey and see more benefits from new technologies.
- While most companies have implemented some digital technologies, effective coordination and use is important for success.
- Advanced business analytics and insights into external operations can help drive business success.
- Younger-led companies and those in North America tend to be more advanced in digital transformation.
The document recommends that digital transformation is an ongoing process, benefits come from integrating technologies into business processes, and tapping internal and external resources is important.
I-Bytes Telecommunication, Media & TechnologyEGBG Services
The document is an August 2019 edition of an IT company's newsletter called "I-Bytes" covering the telecommunications, media, and technology industry. It includes several financial updates from major companies in that industry such as Apple, Arista Networks, BCE, Corning, Crown Castle, Discovery, Fiserv, Flex, and Interpublic, reporting their recent quarterly revenues, earnings, growth rates, and executive commentary on performance. The newsletter is published by ITShades.com to share latest industry data and information with readers.
Brad Smith, President and CEO of Intuit, presented at the annual shareholder meeting in January 2016. He reflected on Intuit's strong fiscal year 2015 financial results, which exceeded guidance across key metrics such as revenue, operating income, and QuickBooks Online subscribers. However, he noted areas for improvement around core growth, multi-year outlook, and inorganic growth integration. Smith also discussed external market shifts towards open ecosystems, mobile experiences, and data privacy, and how Intuit is transforming its business model to address these changes.
This presentation contains forward-looking statements, including our ability to drive sales productivity, our expectations for reduced churn, our expectations for revenue, adjusted EBITDA and capital expenditures in 2015 and our ability to accelerate profitable growth through the introduction and customer adoption of new performance-based product offerings and greatly improved execution
The document outlines Intuit's investor day agenda and materials. It includes presentations on Intuit's strategy to win in key areas like the QuickBooks Online ecosystem, TurboTax online and mobile, accountants, technology, data and security. The document reflects on Intuit's successful transition to a cloud and platform business model over the past 4 years and doubling of its total addressable market. It discusses priorities and metrics for the coming year to continue delighting customers through product experiences, data insights, ecosystem contributions and security leadership.
Intuit Investor Overview document provides an overview of Intuit's strategy and performance:
[1] Intuit has transitioned successfully to a cloud-based software and platform business model, growing connected services revenue 36% annually over 5 years while accelerating cloud adoption.
[2] The company has more than doubled its total addressable market opportunity by entering new markets, connecting its ecosystem of products and services, and growing its existing categories.
[3] Key priorities include continuing to grow customer bases for QuickBooks Online and TurboTax Online, while increasing attachment of additional services to deliver more customer value.
This document provides an overview of Intuit's strategy and addressable market opportunities. It discusses Intuit's transition to cloud-based products which is accelerating category adoption. Intuit's customer base grew 14% YoY to over 5 million customers. The strategy is to grow the core products and markets, connect the ecosystem through offerings like e-invoicing and lending, and expand globally by proving the model in countries like Canada, UK, and Australia which now have over 100k subscribers each. This pursues a total addressable market of $145 billion.
The document provides an earnings call summary for AdvancePierre Foods for the third quarter of 2016. It discusses the following key points:
1) The implementation of a CEO succession plan, with Chris Sliva joining as president in November 2016 and succeeding John Simons as CEO in March 2017.
2) Strong third quarter performance with adjusted EBITDA of $79 million, adjusted net income of $35 million, and proactive pricing responses to commodity deflation.
3) Acquisition of Allied Specialty Foods, a competitor in Philly steak products, to expand market position and enhance synergies around raw materials procurement.
4) Financial outlook for 2016 anticipates net sales between $1,
- The document provides an overview of Intuit, including forward-looking statements and metrics. It discusses Intuit's strategy to win with QuickBooks Online, accountants, and TurboTax Online and Mobile.
- Key goals include accelerating QuickBooks Online customer growth, increasing the number of accountants using Intuit's tax and accounting solutions, and growing Intuit's online/mobile share versus rivals in the tax preparation market.
- Intuit aims to expand its total addressable market by entering new markets with QuickBooks and addressing small businesses and self-employed individuals worldwide.
The newspaper conducted a three-month test comparing the forecasting accuracy of YieldEdge and their ad server. YieldEdge proved 10% more accurate in predicting inventory availability. This improved accuracy allowed the newspaper to book more targeted deals with confidence, avoiding overbooking and generating over $60,000 in additional revenue. It also uncovered 320 million unused impressions and provided workflow benefits like reducing time spent on underdelivery issues.
Direct Insite provides cloud-based accounts payable and accounts receivable automation solutions for large global companies. The document discusses Direct Insite's business model, growth strategy, and competitive positioning. It notes their recurring revenue model, growing customer base and transaction volumes, expanding vendor network, and potential to develop new products and revenue streams. The summary highlights consolidation occurring in the industry and sees opportunity for Direct Insite to participate through continued growth.
The document discusses research methods for gaining insights into small and medium-sized businesses (SMBs) to help increase sales to this segment. It outlines both qualitative and quantitative research approaches that can provide information on attitudes, usage, buyer identification, perceptions, segmentation, behaviors and preferences. The analytics output from this research can then inform content, social media, collateral and other marketing programs. Specific awareness initiator events, roles, and content formats that drive SMBs to investigate new products and services are also examined.
This document brings together a set
of latest data points and publicly
available information relevant for
IoT & AR Services Industry. We are
very excited to share this content and
believe that readers will benefit from
this periodic publication immensely
Direct Insite Investor Presentation - September 2013Company Spotlight
Direct Insite Corp. provides cloud-based accounts payable and accounts receivable automation tools to large companies. The presentation discusses the company's SaaS business model, large global supplier network, new customer wins, growing revenues, and cash flow positive position. It highlights growth opportunities through new customers and products, network monetization, and selective acquisitions. The goal is to achieve over 30% revenue growth by automating more of the global $30 trillion invoice market and financial supply chain.
Direct Insite provides cloud-based financial supply chain automation tools for accounts payable and accounts receivable. Their presentation highlights their blue-chip customer base, global supplier network, recent growth, and cash flow positive position. They discuss opportunities in further automating the market and monetizing their supplier network, as well as growth objectives over the next few years such as introducing new products and exploring acquisitions.
AT&T has faced many challenges throughout its history such as competitors infringing on its patents, antitrust lawsuits from the government, and a rapidly evolving industry. However, AT&T has remained a leader in communications technology for over a century by pioneering technologies like pay phones, radio broadcasts, and transatlantic phone cables. Today, AT&T must continue to innovate and provide superior service and devices to consumers to remain competitive against other major carriers like Verizon, Sprint, and T-Mobile in the tightly contested US market. Recent acquisitions of DirecTV and Time Warner will help AT&T expand its video and media offerings internationally and domestically.
Ingram Micro is the world's largest technology distributor, providing products and services to customers in over 150 countries. In the first quarter of 2009, Ingram Micro saw worldwide sales decline 21% to $6.75 billion due to macroeconomic softness. However, the company improved working capital management and ended the quarter with over $1 billion in cash. Looking ahead, Ingram Micro is focused on competitive costs, higher margin businesses, and profitability.
CA World 2010- LA Briefing- Kenneth ArredondoCA Technologies
The document provides an overview of CA and its strategy in Latin America for FY2011. It discusses CA's strong financial performance in FY2010, highlights of its success in Latin America, forecasts for the Latin American IT industry, and CA's strategy to expand its market reach and product portfolio through investments in growth markets, new routes to market, and localized products.
What you need to know about Corporate Travel in 2019CertifyInc
Tech brands are transforming the business travel and expense landscape—and business traveler expectations. Join us as we look at the biggest trends in corporate travel and how finance leaders can create a future-proofed corporate travel policy that will help manage spending and cut costs—while also meeting the needs of business travelers in 2019.
- Intuit reported financial results for Q4 and full fiscal year 2020. Revenue grew to $1.8 billion in Q4, up from $994 million in the prior year. Revenue from the Consumer Group was $710 million, while the Small Business and Self-Employed Group revenue increased 16% to $1.0 billion.
- For the full fiscal year, revenue grew 13% to $7.1 billion. Net income increased 28% to $2.0 billion.
- Intuit expects revenue growth of 6-8% for fiscal year 2021, driven by growth across its business segments and continued innovation.
- Faster growing small and midsize companies are further along in their digital transformations, with over half actively engaged. Effective use of technology to automate functions and optimize processes is associated with better performance.
- While many companies have deployed digital technologies like collaboration software and CRM, effectively coordinating and integrating these resources is important for progressing digital transformations. Successful companies continually invest in improving their use of digital technologies.
- Faster growing companies are more optimistic about the benefits of digital transformation for performance and competition, but also realize challenges in relying too much on data and losing personal customer relationships. Advanced business analytics that provide insights are seen as key to transformation success.
This document provides a summary of a study on how small and midsize enterprises are adapting to digital transformation. Some key findings include:
- Faster growing companies are further along in their digital transformation journey and see more benefits from new technologies.
- While most companies have implemented some digital technologies, effective coordination and use is important for success.
- Advanced business analytics and insights into external operations can help drive business success.
- Younger-led companies and those in North America tend to be more advanced in digital transformation.
The document recommends that digital transformation is an ongoing process, benefits come from integrating technologies into business processes, and tapping internal and external resources is important.
I-Bytes Telecommunication, Media & TechnologyEGBG Services
The document is an August 2019 edition of an IT company's newsletter called "I-Bytes" covering the telecommunications, media, and technology industry. It includes several financial updates from major companies in that industry such as Apple, Arista Networks, BCE, Corning, Crown Castle, Discovery, Fiserv, Flex, and Interpublic, reporting their recent quarterly revenues, earnings, growth rates, and executive commentary on performance. The newsletter is published by ITShades.com to share latest industry data and information with readers.
Brad Smith, President and CEO of Intuit, presented at the annual shareholder meeting in January 2016. He reflected on Intuit's strong fiscal year 2015 financial results, which exceeded guidance across key metrics such as revenue, operating income, and QuickBooks Online subscribers. However, he noted areas for improvement around core growth, multi-year outlook, and inorganic growth integration. Smith also discussed external market shifts towards open ecosystems, mobile experiences, and data privacy, and how Intuit is transforming its business model to address these changes.
This presentation contains forward-looking statements, including our ability to drive sales productivity, our expectations for reduced churn, our expectations for revenue, adjusted EBITDA and capital expenditures in 2015 and our ability to accelerate profitable growth through the introduction and customer adoption of new performance-based product offerings and greatly improved execution
1) The VP provided an overview of Intuit's Consumer Tax Group's performance in FY2014, noting good growth and market share gains in the US but room for improvement in Canada.
2) While progress was made innovating the product experience and customer service, further work is needed to improve the experience for returning and new users.
3) The FY2014 results marked a good start to a multi-year journey to fully deliver on the promise of innovating at every customer touchpoint.
This presentation contains forward-looking statements, including our expectations for churn improvement in the fourth quarter of 2015, our expectations for revenue, adjusted EBITDA and capital expenditures in 2015 and our ability to accelerate profitable growth from our new performance-based product offerings and greatly improved execution.
The document is an investor presentation from Intuit given in March 2015 that provides an overview of the company's strategy, priorities, financial metrics and outlook. Some of the key points include:
- Intuit's mission is to improve customers' financial lives so profoundly that they can't imagine going back to the old way.
- The company's strategic priorities are to win online/mobile, grow globally, create a unified SMB profile, accelerate its "taxes are done" goal, and make everything a service.
- Intuit expects QuickBooks Online subscribers to grow to around 1 million in FY2015 and around 2 million in FY2017, with total revenue reaching approximately $5.8 billion.
- The presentation
Certain statements in the materials may be forward-looking and involve risks and uncertainties. Investors should review SEC filings to understand associated risks. All material is copyrighted by Direct Insite. While forward-looking statements are made, the company does not undertake to update them. Direct Insite provides invoice automation solutions and has a growing customer base and supplier network.
This presentation contains forward-looking statements, including our belief in the benefits to be achieved from the business unit realignment, expectations for annualized cost savings achieved from our cost optimization program and resulting restructuring charges, expectations for revenue, adjusted EBITDA and capital expenditures in 2016 and our ability to further improve margin profile and generate positive levered free cash flow for the full-year 2016. Because such statements are not guarantees of future performance and involve risks and uncertainties, there are important factors that could cause Internap's actual results to differ materially from those in the forward-looking statements.
Intuit Overview document from May 2017 provides:
- Forward-looking statements are subject to risks and uncertainties outlined in SEC filings.
- Intuit's strategy focuses on delivering awesome product experiences using data, enabling contributions from partners, and being the operating system behind SMB success and doing the nation's taxes.
- Intuit has transitioned successfully from a product to a platform company, growing connected services revenue over 36% annually while maintaining overall revenue growth.
This presentation summarizes Internap's 3rd quarter 2016 earnings results. Revenue declined year-over-year primarily due to lower IP connectivity pricing and customer churn. The company reported a large net loss that included a non-cash goodwill impairment charge. Looking forward, the new CEO plans to improve operations, cut costs, and explore ways to recapitalize the business in order to focus on growth. Financial guidance for 2016 was reaffirmed with some minor adjustments to revenue and adjusted EBITDA expectations.
How to Take the First Steps to a Lucrative Virtual CFO Business ModelCPA.com
We all know that our clients are looking to us to provide higher-level, more prospective business insight, but how do we get there from here? You will learn how to seize the opportunity before the accounting profession today and the steps to ensure success.
- Revenue decreased 1% year-over-year and 4% quarter-over-quarter due to higher than expected churn from a small number of significant customers.
- Adjusted EBITDA increased 1% year-over-year but decreased 21% quarter-over-quarter due to the revenue shortfall and seasonal costs.
- While first quarter results were soft, the company expects a rapid recovery in the second quarter and maintains its full-year guidance for Adjusted EBITDA.
This is the pitch deck we used at Duco in 2018 for a $28bn Series B equity fund raise, when Duco was still relatively small.
Duco is a SaaS company that provides data integrity solution in Financial Services, Insurance and elsewhere.
Cowen and Company 8th Annual Global Transportation Conference PresentationDelta_Airlines
Delta presented at the Cowen and Company Global Transportation Conference on September 9, 2015. The presentation discussed Delta's evolution over the past decade through consolidation, investments in its product and network, and focus on sustainable earnings. It highlighted Delta's industry-leading operational performance and customer satisfaction. The presentation also discussed Delta's ongoing focus on capacity discipline, lowering costs, strengthening its balance sheet, and returning cash to shareholders.
Overview of Latin America Electronic Invoicing and Tax Reporting RequirementsInvoiceware International
This document discusses Latin American e-invoicing compliance requirements and how they present challenges for multinational companies using centralized SAP systems. It notes that VAT tax evasion in Latin America ranges from 25-50% and that countries are increasingly mandating e-invoicing to improve tax collection. However, constant regulatory changes in each country strain companies' abilities to continuously update and support siloed compliance systems. The document proposes that Invoiceware International's hybrid cloud platform could provide a single solution covering multiple Latin American countries, reducing companies' SAP support costs and dependency on internal resources to manage compliance changes.
The presentation discusses Symantec's business strategy and financial guidance. It aims to improve growth, increase profitability, and create shareholder value through the following priorities:
1. Optimize businesses based on their lifecycle and growth potential, such as improving margins in mature, low-growth areas while prioritizing investments in growth areas.
2. Further prioritize investments for growth in backup, storage management, and security where Symantec sees multi-billion dollar market opportunities.
3. Continue reducing costs and improving efficiencies, having already reduced costs and improved operating margin, with a path to further expansion.
The presentation discusses Symantec's business strategy and financial outlook. It states that Symantec aims to:
1) Improve its growth profile and increase profitability through optimizing businesses based on their lifecycle and growth potential, prioritizing investments, reducing costs, strengthening leadership, and returning cash to shareholders.
2) Provide revenue guidance for Q1 2015 of $1.65-1.69 billion and FY2015 of $6.63-6.77 billion, and non-GAAP operating margin guidance of 24.1-24.5% for Q1 2015 and 27.7-28.2% for FY2015.
3) Outline priorities including optimizing
Q1 2015 TE Connectivity Ltd. Earnings Conference CallTEConnectivityltd
TE Connectivity reported Q1 2015 earnings and announced the planned divestiture of its Broadband Networks Solutions business. Key points:
- Revenue was $3.47 billion, up 4% year-over-year, with adjusted EPS of $0.98, up 20% year-over-year.
- BNS will be sold to CommScope for $3 billion, about 10 times the business' adjusted EBITDA. The sale is expected to close by the end of 2015.
- For FY2015, guidance remains unchanged with adjusted EPS expected between $4.05-$4.35, up 11% over prior year despite foreign exchange headwinds.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
World economy charts case study presented by a Big 4
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2. These presentation materials include forward-looking statements. There are a number of factors that could
cause our results to differ materially from our expectations. Please see the section entitled “Cautions About
Forward-Looking Statements” in the enclosed Appendix for information regarding forward-looking statements
and related risks and uncertainties. You can also learn more about these risks in our Form 10-K for fiscal
2015 and our other SEC filings, which are available on the Investor Relations page of Intuit's website at
www.intuit.com. We assume no obligation to update any forward-looking statement.
The information in this presentation is intended to outline our general product direction for online products, but
represents no obligation and should not be relied on in making a purchasing decision.
These presentations include certain non-GAAP financial measures. Please see the section entitled “About
Non-GAAP Financial Measures” in the enclosed Appendix for an explanation of management’s use of these
measures and a reconciliation to the most directly comparable GAAP financial measures.
Non-GAAP Financial Measures
Forward-Looking Statements
4. Win worldwide
with QBO
Ecosystem
Win with
accountants who
fuel SMB success
Win with
TurboTax Online
and Mobile
Technology to
accelerate growth
Data-driven
intelligent
systems
Industry-wide
security
leadership
Delivering Awesome
Product Experiences
Using Data to
Create Delight
Enabling the Contributions of Others
- “Network Effect Platforms”
Be the Operating System Behind SMB Success Do the Nations’ Taxes
Employees
Create an environment where the
world’s top talent can do the best
work of their lives
Shareholders
Inspire confidence in our long term
growth, leading to a higher stock price
Customers
Delight customers more than rivals
in ways that matter most
Partners
Delight partners who add
value to the ecosystem
Integrity Without Compromise We Care & Give Back
Be PassionateBe Bold Be Decisive Learn Fast Win Together Deliver Awesome
Values
True
North
Goals
Strategy
Priorities
Metrics
• Deliver the customer benefit
• QBO customer base growth relative
to our strongest local competition
• Improve QBO LTV/CAC
• QBO Ecosystem NPS relative to
local rivals
• NTTF QBO
• Accountants
• Deliver the customer benefit
• Share of accountants doing
tax & accounting
• Increase # of accountants doing
tax & QBO+3
• Increase $ value of accountant
• NPS of accountants doing tax
& acctg. vs. rivals
• Deliver the customer benefit
• Grow DIY category vs.
assisted methods
• Grow online/mobile share
vs. rivals
• Improve Conversion
• TTO NPS vs. rivals
• % ready-to-consume strategic
services
• Reduce downtime minutes …
customers & agents
• Reduce % of customers needing help
• Improve customer effort score
• % of developers & agents on
common tools
• Deliver breakthrough
benefits for customers (&
partners, with permission)
• % customers utilizing data
• Data coverage
• Reduce user errors
• Reduce time to insight
• Reduced fraud …Intuit
customers & industry
• Intuit trust rating
To improve our customers’ financial lives so profoundly… they can’t imagine going back to the old way
Mission
5. External Market Shifts & Strategic Implications
External Market Shifts
End user & 3rd party contribution
• Increase in user/developer value creation
• Open ecosystem and network effects win
A world without borders
• Significantly expands addressable geographies
• 40+% of workforce will be “on-demand” in 2020
Mobile experience prevails
• Connected devices that work seamlessly
• Beyond “our palm” – wearables & automobiles
Most valuable resource
• Privacy & security of customer data the top priority
• Intelligent systems that surprise & delight
Social
Cloud
Mobile 1st
Data
Strategic Implications For Intuit
Being a Great Product &
Network Effects Platform Company
Accelerating Growth Through
Cloud-Driven Global Services
Reimagining User Experiences
in a Mobile First World
Securing Data while
Creating Delight & Driving Growth
6. Multi-Year Transformation: Product & Platform Company
Accelerating to the cloud Increasing connected services revenue
FY’12-’15
CAGR
-3%
11%
FY’13
9M
FY’12 FY’14 FY’15
8M
21M
29M
$4,243 $4,192$3,946
$3,663
Connected Services
Product
36%
64%
60%
62%
40% 38%
71%
FY’14 FY’15FY’13FY’12
362 455 600
87718
32
83
198
FY’12 FY’13 FY’14 FY’15
FY’12-’15
CAGR
34%
124%
Growing global customers
In thousands
Leaned into the cloud Created new connections Entered new markets
FY’12-’15
CAGR
-6%
11%
…tangible proof points of successful
business model transition
29%
QBO Non-US
QBO US
Online Customers
Desktop Customers
$M
7. Expanding TAM: The Opportunity Ahead
3
• Enter new markets with QuickBooks ecosystem
• Enter new markets with QuickBooks Self-Employed
• Expanded prospect pool … 6 priority countries = 43M additional prospects
- Converting to paid QBO subs … ~200,000 today growing 135+%
• QBSE is incremental oppty … UK alone = 4M QBSE prospects
Entering New Markets
Cumulative Total Addressable Market Opportunity
Reasons to Believe
$47B - $54B
2 • U.S. attach rates increasing by cohort
- New QBO payroll attach is 23% … payments attach is 11%
• One Intuit Product & Platform Strategy connections
- SMB & accountant matchmaking … advice for SMB & new clients for acct
- Improved cash flow … e-invoices w/ e-pay … paid <10 days with “2 taps”
- Access to capital … $200M SMB loans … 70% approval in days
- Home loans … TT fills 80% of questions … better rates … +10 pt. conv. lift
Connecting the Ecosystem
• Increase attach / solve additional problems
• Facilitate new connections
$36B - $42B
• New customers choosing cloud & mobile solutions, growing the categories
- 60% new SMB’s choose QBO … 80% new QBO users 1st time users
- 90% new tax filers choose TTO … Tax SW growth 3-6X faster than assisted
• New QBSE a strong value prop. for 38-50M self-employed / gig economy
- 30% of QBSE users also purchasing integrated solution with TurboTax
1
• Accelerate shift to cloud
• Convert non-consumption
$17B - $20B
Growing Our Categories
9. Desktop Remains Strong and Important to Our Success
Desktop ecosystem revenue remaining steady
− QBO migration lower than expected, but growing >50% YOY
− Active base remaining stable even with current year purchase down $1.7B
$1.7B
Desktop Ecosystem Revenue (pre-ratable)
10% 20% 70%
FY15 Desktop Revenue (pre-ratable)
Units Attach / servicesSubs
Enterprise/Plus
Desktop Ecosystem ARPC (pre-ratable)
+8%
Business is predominantly subscription and services
− Unit repurchase cycle lengthening, shifting to QB subscriptions gradually
− Bulk of revenue driven by attach services
ARPC rising as complex customers stay and grow with us
− Focusing on high value customer experience releases, not features
− Growth in QB Enterprise further bolstering overall ARPC
FY’14
FY’15
FY’14
FY’15
Desktop migration not driving online growth and that’s fine with us
10. But the Cloud is Our Future
An Open Platform Everything Works Together Personalized
• One Code Base
• Built to Scale
• Open for All Developers
• Accountant & SMB Collaboration
• Integrated 3rd Party Apps
• Flawless Embedded Service
• By/For Devs, Accts, & SMBs
• For All Sizes and Industries
• For all Geographies
11. We are Expanding Our Addressable Base
Addressing ~65M SMBs in Prioritized Countries… …and 40-50M+ Self-Employed in US and UK
#
SMBs
QBO
subs
US 21M 852K
Canada 2M 63K
UK 5M 40K
India 10M 32K
Australia 2M 33K
Brazil 20M 8K
France 4M New
Rest of world 91M 22K
Worldwide ~155M 1,050K
`
#
SEs
QBOSE
subs
US 38M-50M 25K
Canada ~1.5M --
UK 4M --
India >100M --
Australia 1.2M --
Brazil 26M --
France 3M --
Rest of world ~500M --
Worldwide ~700M 25K
1,075K QBO subscribers and growing rapidly as we serve new geographies and customers
12. FY'12 FY'13 FY'14 FY'15 FY'16 FY'17
QBDT QBO US QB SE QBO Non-US
Accelerating Customer Growth
QB Customer Growth
Paying QBO users and Desktop purchases
2.0M
2.3M
1.9M
2.1M
2 to 2.2 million
QuickBooks
Online
subscribers in
FY’17
~900k desktop
units/subscribers
Accelerating QBO customer growth through increased penetration,
self-employed and new markets
Accelerating QBO customer growth through increased penetration,
self-employed and new marketsAccelerating QBO customer growth with increased penetration, self-employed and non-US
13. Small Business Online Revenue Growing 25-30%
20%
10%
80%
70%
Customer FY’15 ARPC
FY’15-FY’17
Subscriber CAGR
QuickBooks
Online US
$425 >25%
QuickBooks
Online Non-US
$120 >50%
QuickBooks
Self-Employed
$65 >200%
Total $370 >40%
• QuickBooks Online growth driven by new adopters
− Desktop migration happening, but gradually
• Accelerating new customer acquisition for QBO
− Rise in mix of new vs. mature customers in QBO base
− Starting ARPC typically lower but grows over time
• Penetrating new segments & markets worldwide
− Lower ARPCs in non-US and Self-Employed
− Limited near-term attach and promotional pricing
− Non-US ARPC will rise with launch of ecosystem offerings
Customers expected to grow faster outside US and in new category segments
14. Data Will Drive the Future of Our Ecosystem Experience
116M
Vendor Names
$240B
Invoices Created
$540B
Vendor Payments
$19B
Gross Payroll Payments
Pay EmployeesReports
Create Invoices Sell Products
Order Products Track Inventory
152M
Customer Names
6M
Employee Names
Data platform is core to delighting customers, partners and developers
15. One Point of Growth in These Key Drivers …
Number of Addressable SMBs
Accounting Software Consumption
QuickBooks Share
QuickBooks ARPC (Attach, Price, Mix)
Yields Revenue Growth of … Multiyear Range
~1% 1 - 2%
~3.5% 4 - 6%
~2% 1 - 2%
~1% ~4 - 5%
Implied Small Business Rev Growth: 10% - 15%
With operating margins in low 40%’s
Long-Term Small Business Growth Drivers
Accelerating QBO customer growth through increased penetration,
self-employed and new markets10-15% growth with operating margins in the low 40% range
17. Leadership Position With Opportunity to Capture Share
Total individual returns
U.S./Canada (M)
CAGR
FY'12-FY'15
1%
(3%)
4%
(12%)8
66
20
81
FY’15
175
Pros
Stores
Software
Manual
Intuit leads in
Returns
Intuit leads in
Accountants
#1 Position
• 26M returns
• 32% share of returns
• +4M small business returns
#1 Position
• 42M returns
• 63% share of returns
#1 Position
• 120K tax accountants
• 200K total accountants
• 45% total accountant share
18. Small Businesses and Accountants Depend On Each Other
Total
Number
% Using
Bookkeeping Services
% Using Tax
Services
85% on Tax and Accounting
Who accountants serve
Where accountants make money
% of US Small Business/Self-
Employed Using Accountants
Value of Small Business/Self-Employed
to Accountants
Accounting
30%
Tax
55%
Other
15%
Consumer
40%
Small Business
60%
15M
6M
38-50M
Registered Employers
Sole Proprietor QBO
Service Economy
70%
70%
9%
95%
79%
79%
89% of small businesses say they are more successful with an accountant
19. Intuit’s Role is Central to Their Relationship
QuickBooks Ecosystem for Small Business
2.3M Paying QuickBooks Users
Connected to our Accountant Network
> 200K Accountants Worldwide
• 13M Invoices Per Month
• 1.1M QBO Customers
• 1.4M Payroll Customers
• 273K Payments Customers
Intuit’s end-to-end solutions drive share across accounting and tax
• 120K Accountants
• 30M Tax Returns
• 130K ProAdvisors
• 58K Accountants
Referring 3+ QBO Users
20. One Point of Growth in
These Key Drivers …
Customer Growth
Customer Expansion
Attach and New Services
Yields Revenue Growth of … Multiyear Range
~0 - 1% 1.5 - 2%
~1 - 1.5% 1 - 2%
~1% 1.5 - 2%
Implied ProTax Revenue Growth: 4% - 6%
With operating margins of 60%+
Long-Term ProTax Growth Drivers
31. • Grow organic revenue double digits
– Expect double-digit revenue growth in FY’16 and beyond
• Grow revenue faster than expenses
– Margins expanding over 100 basis points on average per year between FY’08 and FY’14
– Anticipate margins in mid-30s going forward
• Deploy cash to highest-yield opportunities
– Investing in organic growth drivers (R&D, infrastructure, sales & marketing)
– 16 acquisitions to accelerate growth (talent, technology) in FY’14 & FY’15
– Return cash to shareholders via dividend and share repurchase
• Maintain a strong balance sheet
– $1.7 billion in cash and securities at the end of FY’15
– Investment-grade rating secure
Our Financial Principles Guide Planning
32. 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
FY'12 FY'13 FY'14 FY'15 FY'16 FY'17
QuickBooks Desktop QuickBooks Online TurboTax Online TurboTax Desktop ProTax Mint
Revenue Growth Reflects Business Model Transition
$3.7B
$1B from fast-growing online services added to highly profitable franchises
$4.5B-$4.6B
TTO and QBO
expected to add
~$1 billion in
revenue from
FY’12 to FY’16
33. FY‘17 EPS Drivers
FY’17 EPS Revenue Growth Margin Share Count
$4.00 - $4.50+ 10%-12%+ 33%-35% 260-275 million
Levers FY’17 EPS at High End+ Long-Term Investments FY’17 EPS in Range
• Faster expansion into new markets
• Investments in product, security and care
• More QBO subscribers that are
− Expanding the category
− Newer, younger businesses
• Customer growth beyond plan
• Additional monetization opportunities
• Slower global expansion
• Increased share repurchase
34. Summary
• Fast-growing SaaS business with highly profitable desktop business
• Double-digit EPS and cash flow growth FY’16-’18
• Reduce share count annually via share repurchases
• Consistent dividend increases, up 20% in FY’16
• ROIC 25%+ in FY’16
36. About Non-GAAP Financial Measures
INTUIT INC.
ABOUT NON-GAAP FINANCIAL MEASURES
The accompanying presentation contains non-GAAP financial measures. Table 1, Table 2, and Table 3 reconcile the non-GAAP financial measures in that press release to the most directly
comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures include non-GAAP operating income, non-
GAAP net income, and non-GAAP net income per share.
Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial
measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names and may differ from non-GAAP financial measures with the same or similar
names that are used by other companies.
We compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year. We may consider whether other significant items that arise in the future
should be excluded from our non-GAAP financial measures.
We exclude the following items from all of our non-GAAP financial measures:
• Share-based compensation expense
• Amortization of acquired technology
• Amortization of other acquired intangible assets
• Goodwill and intangible asset impairment charges
• Professional fees for business combinations
We also exclude the following items from non-GAAP net income and diluted net income per share:
• Gains and losses on debt and equity securities and other investments
• Income tax effects and adjustments
• Discontinued operations
We believe that these non-GAAP financial measures provide meaningful supplemental information regarding Intuit’s operating results primarily because they exclude amounts that we do not
consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization, our individual operating segments or our senior management.
Segment managers are not held accountable for share-based compensation expense, amortization, or the other excluded items and, accordingly, we exclude these amounts from our measures
of segment performance. We believe that our
non-GAAP financial measures also facilitate the comparison by management and investors of results for current periods and guidance for future periods with results for past periods.
37. About Non-GAAP Financial Measures (cont.)
The following are descriptions of the items we exclude from our non-GAAP financial measures.
Share-based compensation expenses. These consist of non-cash expenses for stock options, restricted stock units and our Employee Stock Purchase Plan. When considering the impact of
equity awards, we place greater emphasis on overall shareholder dilution rather than the accounting charges associated with those awards.
Amortization of acquired technology and amortization of other acquired intangible assets. When we acquire an entity, we are required by GAAP to record the fair values of the intangible assets
of the entity and amortize them over their useful lives. Amortization of acquired technology in cost of revenue includes amortization of software and other technology assets of acquired entities.
Amortization of other acquired intangible assets in operating expenses includes amortization of assets such as customer lists, covenants not to compete and trade names.
Goodwill and intangible asset impairment charges. We exclude from our non-GAAP financial measures non-cash charges to adjust the carrying values of goodwill and other acquired intangible
assets to their estimated fair values.
Professional fees for business combinations. We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. These include investment
banking, legal and accounting fees.
Gains and losses on debt and equity securities and other investments. We exclude from our non-GAAP financial measures gains and losses that we record when we sell or impair available-for-
sale debt and equity securities and other investments.
Income tax effects and adjustments. During fiscal 2014, we excluded from our non-GAAP financial measures the income tax effects of the non-GAAP pre-tax adjustments described above, as
well as income tax effects related to business combinations. This was consistent with how we were evaluating our operating results and planning, forecasting, and evaluating future periods
during that fiscal year.
During fiscal 2015, we began using a long-term non-GAAP tax rate for evaluating operating results and for planning, forecasting, and analyzing future periods. This long-term non-GAAP tax rate
excludes the income tax effects of the non-GAAP pre-tax adjustments described above, assumes the federal research and experimentation credit is continuously in effect, and eliminates the
effects of non-recurring and period specific items which can vary in size and frequency. Based on our current long-term projections, we are using a long-term non-GAAP tax rate of 34% which is
consistent with the average of our normalized fiscal year tax rate over a four year period that includes the past three fiscal years plus the current fiscal year. We will evaluate this long-term non-
GAAP tax rate on an annual basis and whenever any significant events occur which may materially affect this long-term rate. This long-term non-GAAP tax rate could be subject to change for
various reasons including significant changes in our geographic earnings mix or fundamental tax law changes in major jurisdictions in which we operate.
Operating results and gains and losses on the sale of discontinued operations. From time to time, we sell or otherwise dispose of selected operations as we adjust our portfolio of businesses to
meet our strategic goals. In accordance with GAAP, we segregate the operating results of discontinued operations as well as gains and losses on the sale of these discontinued operations from
continuing operations on our GAAP statements of operations but continue to include them in GAAP net income or loss and net income or loss per share. We exclude these amounts from our
non-GAAP financial measures.
38. TABLE 1
RECONCILIATIONS OF HISTORICAL NON-GAAP FINANCIAL MEASURES TO MOST DIRECTLY COMPARABLE GAAP
FINANCIAL MEASURES
(Dollars in millions, except per share amounts)
See "About Non-GAAP Financial Measures" immediately preceding Table 1 for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons
management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure.
Pre- Post-
Divestiture Reclassify Divestiture
Fiscal Discontinued Fiscal
2015 Operations 2015
Total revenue 4,428$ (236)$ 4,192$
GAAP operating income from continuing operations 552$ 186$ 738$
Amortization of acquired technology 40 30
Amortization of other acquired intangible assets 25 12
Professional fees for business combinations 4 2
Goodwill and intangible asset impairment charge 297 148
Gain on sale of long-lived assets (31) (31)
Share-based compensation expense 257 242
Non-GAAP operating income 1,144$ (3)$ 1,141$
GAAP net income 365$ -$ 365$
Amortization of acquired technology 40 30
Amortization of other acquired intangible assets 25 12
Professional fees for business combinations 4 2
Goodwill and intangible asset impairment charge 297 148
Gain on sale of long-lived assets (31) (31)
Share-based compensation expense 257 242
Net gains on debt securities and other investments 6 6
Income tax effects of non-GAAP adjustments (98) (83)
Discontinued operations (123) 48
Non-GAAP net income 742$ (3)$ 739$
GAAP diluted net income per share 1.28$ -$ 1.28$
Non-GAAP diluted net income per share 2.59$ -$ 2.59$
Shares used in diluted per share amounts 286 286
Non-GAAP tax rate 34% 34%
39. TABLE 2
CALCULATION OF FREE CASH FLOW
(Dollars in millions)
To supplement our statements of cash flows prepared in accordance with GAAP, we use free cash flow to analyze cash flow generated from operations. We define free cash flow as net cash provided by operating activities less total capital expenditures.
This non-GAAP financial measure should not be considered as a substitute for, or superior to, GAAP net income as an indicator of our operating performance or GAAP cash flows from operating activities as a measure of our liquidity.
Fiscal Fiscal Fiscal Fiscal Fiscal Fiscal
2010 2011 2012 2013 2014 2015
Net cash provided by operating activities 998$ 1,013$ 1,246$ 1,366$ 1,446$ 1,504$
Less capital expenditures:
Purchases of property and equipment (74) (114) (135) (129) (104) (142)
Capitalization of internal use software (56) (99) (51) (66) (82) (119)
Total capital expenditures (130) (213) (186) (195) (186) (261)
Free cash flow 868$ 800$ 1,060$ 1,171$ 1,260$ 1,243$
40. Cautions About Forward-Looking Statements
This presentation includes "forward-looking statements" which are subject to safe harbors created under the U.S. federal securities laws. All statements included in this presentation that address
activities, events or developments that Intuit expects, believes or anticipates will or may occur in the future are forward looking statements, including: our expected market, customer and share
growth; our goals, our ability to achieve them, and their impact on our business; our opportunities and strategies to grow our business; our expected revenue, operating income and earnings per
share results and growth; our expectations regarding future dividends, share repurchases and ROIC improvements; our expectations for our product and service offerings and cross-sell
opportunities; and future market trends. 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 factors include, without limitation, the following: inherent difficulty in predicting consumer behavior;
difficulties in receiving, processing, or filing customer tax submissions; consumers may not respond as we expected to our advertising and promotional activities; the competitive environment;
governmental encroachment in our tax businesses or other governmental activities or public policy affecting the preparation and filing of tax returns; our ability to innovate and adapt to
technological change; business interruption or failure of our information technology and communication systems; problems with implementing upgrades to our customer facing applications and
supporting information technology infrastructure; any failure to properly use and protect personal customer information and data; our ability to develop, manage and maintain critical third party
business relationships; increased government regulation of our businesses; any failure to process transactions effectively or to adequately protect against potential fraudulent activities; any
significant offering quality problems or delays; our participation in the Free File Alliance; the global economic environment; changes in the total number of tax filings that are submitted to
government agencies due to economic conditions or otherwise; the highly seasonal and unpredictable nature of our revenue; our inability to attract, retain and develop highly skilled employees;
increased risks associated with international operations; our ability to repurchase shares; we may issue additional shares in an acquisition causing our number of outstanding shares to grow; our
inability to adequately protect our intellectual property rights; disruptions, expenses and risks associated with our acquisitions and divestitures; amortization of acquired intangible assets and
impairment charges; our use of significant amounts of debt to finance acquisitions or other activities; and the cost of, and potential adverse results in, litigation involving intellectual property,
antitrust, shareholder and other matters. More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2015 and in our other SEC filings. You
can locate these reports through our website at http://investors.intuit.com. Fiscal 2016 guidance speaks only as of the date it was publicly issued by Intuit. Other forward-looking statements
represent the judgment of the management of Intuit as of the date of this presentation. We do not undertake any duty to update any forward-looking statement or other information in this
presentation.
only as of the date it was publicly issued by Intuit. Other forward-looking statements represent the judgment of the management of Intuit as of the date of this presentation. We do not undertake
any duty to update any forward-looking statement or other in