In Mountain View with us, and also wanted to welcome those of you joining us online. We really appreciate you taking the time to be with us today. We have a great day planned for you. Sasan is going to kick us off and take us through our AI-driven expert platform strategy. After Sasan, Alex will come up and take us through the technology fueling our innovation and powering our platform. Then we'll head to a deep dive on the business platform growth strategy. First, Marianna will take us through small business, and she'll be followed by Ashley, who will take us through mid-market. Then David will come up and take us through an immersion of our business platform offerings, really to bring the strategy to life.
After a short break, Mark will come up and take us through our consumer group, our consumer platform growth strategy, followed by Arundhati, who will also take us through another immersion. Sandeep will finish us off with some financial perspectives. Don't worry, we'll have plenty of time for Q&A. For those of you here with us in Mountain View, we also invite you to join us for lunch, where you'll have plenty of time to interact with all the presenters. We have one change today, which is that we're going to actually be immersing you in our offerings and our strategy right here on this stage. You actually will not need to leave your seats. A couple of quick housekeeping items. First, Wi-Fi is available on the Intuit guest network. Hopefully, you found that already. There's no access code required.
Second, the restrooms are to your back left, just across from the elevators. The presentations we'll be sharing today are available on the investor relations page of our website. Now we're ready for the part that everyone loves, the forward-looking statements.
Forward-looking statements. These presentations contain 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 Appendix accompanying this presentation for information regarding forward-looking statements and related risks and uncertainties. You can also learn more about the risks in our Form 10-K for fiscal 2025 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 except as required by law. Non-GAAP financial measures. 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 reconciliations to the most directly comparable GAAP financial measures.
In this presentation, we may also announce plans or intentions regarding functionality that is not yet delivered. This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing or investing decision. Additional terms, conditions, and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, and functionality are subject to change without notice. Certain product screen images are simulated and videos shortened. Some numbers may not agree with the sum of the components nor with SEC filings due to immaterial rounding adjustments.
Okay, I think we're ready to get started. Please join me in welcoming Sasan.
All right. Good morning. Good afternoon to everyone on the webcast and a very, very warm welcome to everyone in the room. We believe that every SaaS company, anybody that makes software, is either going to get disrupted or they're going to be the disruptors. That is because of what's possible with AI. We believe that SaaS players must become the system of intelligence, which means you have to be great at data, data models, data ingestion, and AI capabilities to ultimately architect learning systems that learn from customers and deliver the experiences that they are looking for. Which means business logic, workflows, and the app layer will completely get disrupted. Which brings us to what we're going to talk about today.
Today, we're going to talk about three things, and what you're going to experience is, one, what the growth drivers of the company have been looking backwards, what got us to 16% growth this past fiscal year. Two, what you can expect from us in the coming months and this fiscal year to accelerate growth. Three, why we are the disruptors. It was in this room six years ago where we shared with you that we're betting the entire company on data and AI. Six years later, AI has become a force multiplier for Intuit. We now have all of the pieces and parts to ultimately become the system of intelligence, a learning system that delivers done-for-you experiences. In fact, in the last several months, we've kicked it into an entirely new gear. We've narrowed from five bets to three bets.
We've significantly reallocated more capital to three bets and put our best talent on those three bets. We believe that will significantly accelerate impactful innovation for our customers and accelerate the growth of the company. In fact, based on our declaration of becoming an AI company, we have profoundly changed the growth profile of Intuit. About 10 years ago, we were less than $5 billion in size, growing 8%. Today, we are 4x that size, nearly $20 billion, growing at double the rate at 16%, with 40% operating margins. The best is yet to come. This past year, we exceeded on every metric that we committed to you. We are constructively dissatisfied with two areas of the company. One is Mailchimp, one is international, both of which we have the best talent on and the proper focus so it can be accretive to the company's growth.
Now, one of the things that I love about Intuit is we try to practice a day-one mindset every single day. A day-one mindset for us means if today is your day one on the job, the curiosity that you bring, the questions that you ask, the objectivity that you bring, you're never in love with what you've declared, but you're in love with making things better. We apply that once a year, very intentionally, to the reflections of the company. We step back and think about it through the lens of if today we were a new management team that took over the company, what would we be proud of and what would we be constructively dissatisfied with? We share this with our board, then with our leadership team, and then the entire company, and you are our last stop. Let me walk through.
If today was Sasan's first day as CEO, this is what I would share with you. First and foremost, we are an absolute talent magnet. We are bringing in talent from the outside, some of the best builders, some of the best makers, some of the best senior talent from the outside. We have all of the pieces and parts to truly become a one-stop shop. Half of the company's TAM is mid-market and the assisted tax segment. The assisted tax segment is a $2 billion business growing at 47%. Mid-market is growing at 40%. We are constructively dissatisfied with both. We believe we can do better because of what's possible, because of our capabilities, and because of the size of the opportunity. In my 20+ years at the company, I would tell you this past year was our biggest year of really durable, impactful innovation.
You know, there's innovation, and then there is impactful innovation. This was our biggest year ever. The innovation, which was the combination of AI and HI that drove a $2 billion business growing 47% in TurboTax Live, was the most incredible adoption we've ever had. In Credit Karma, you're going to hear later that we took four to five points of share respectfully in credit cards and personal loans, all because of the innovation across the platform. It was this time last year where we launched Intuit Enterprise Suite. It may seem like a long time ago. It's only been a year. In this last quarterly deliverables, it was our largest July roadmap deliverable ever. It's only been a year with Intuit Enterprise Suite, and it is fueling growth.
Last but not least, in July, just a few months ago, we had our largest launch of a virtual team of AI agents and AI-enabled human experts that are doing the work for businesses. It is the largest impactful innovation that we've ever had that we believe will accelerate growth in the future. We also are always looking to architect the company for velocity. Our view internally is that we need to move faster than entrepreneurs and startups, but with the scale of a massive company behind it. We are always looking to see what we can do to move faster. One of the number one levers to move faster is mission-based teams that are self-contained, that can make all the decisions, that have access to all the platform services, that can move without dependencies, blockers, et cetera.
Just three months ago, we shifted over 1,200 data analysts, data scientists, data engineers closer to the business within payments, within TurboTax Live, within all of our segments, so our teams can move much faster. That is on the side of constructively dissatisfied because we will never be satisfied with our velocity, although the pace of code deployment is better than it's ever been. Last but not least, we feel like we had a very, very strong year, growing top line 16% and operating margin at 40%. We have so much more room for growth. Even though TurboTax Live customers grew 24%, even though mid-market customers grew 23%, even though money overall, the revenue grew 37%, we are constructively dissatisfied. We believe we can do more because of all of the capabilities that we have.
If today was day one as CEO, I would say, wow, what a foundation, but we can do so much more. We're hungry, we're bullish, we have all the pieces and parts to do amazing things. Let's talk about what those amazing things are. It starts with what we're trying to do for our customers. They ultimately pay the bills. What we're trying to do for customers is for consumers, it's to help them from credit building to wealth building. For businesses, it's from lead to cash. It is a significant total addressable market. It's $300+ billion in size. In this past year, our penetration went from 5%- 6%. So 6% down, 94% to go. Huge opportunity.
These secular shifts play into our favor, and I would tell you that if you go back to last year's Investor Day, they've completely changed from what we shared with you a year ago. Every consumer, every business, large or small, every accountant that I talk to, that we talk to, is completely over-digitized. They have an app for everything. In fact, AI is in the middle of everything that they do, and the new generation coming in is amplifying it by 10x. What does that mean? Let's talk about that a bit more. If you're a small business, and then depending on your size, you could be using up to 25+ different applications to run your business. I'm going to use a business as an example. You could be using one app to create an estimate and send an invoice.
You could be using a different app to pay bills. You could be using a different app for workforce solutions. You could be using a different app for financial management, for reporting, a different app to get advice. By the way, now in the midst of all that, they're using Gemini, Claude, ChatGPT to get advice. The biggest thing that we hear from customers now, which is very different than just a year ago, is my data is trapped in all of these different apps. I'm actually spending a lot more time trying to figure out what is going on in my business, and I'm spending a lot more money today than I did a year ago. This is what we have been focused on and built for for the last six years.
To have a platform where, at a minimum, we can reduce 80% of all of the apps that you use, so in one place, you can get to insights because we're doing the work for you. You can drive growth, and we consolidate your tech stack so that you can do it at lower cost, but a higher spend with us. You're going to experience that today. With that context, let me just walk you through what are we doing about it. What's our strategy? First of all, for those of you that are new to it, we are very intentional about how we run the company. For us, culture is everything because culture drives growth. We run the company from the mission and why we wake up every morning to do amazing things for our customers to how we measure that.
Let me talk about a few things that I think are very relevant to how we're going to accelerate delivering for our customers. First and foremost, our mission is our guide to fall in love with what customers need and what customers want, and never to fall in love with our own solutions. Always look to find ways to power their prosperity. This is a big cultural point for us in terms of why we show up to work every day. The second is our values, which have changed three times in our history. The last time it changed was a few years ago. Very intentionally, what changed is what you see in the middle. It's courage, it's customer obsession, and it's stronger together. We believe that culture is not static.
We have to, for us to live and thrive and disrupt in the world of AI, our values, which are our leadership principles, must evolve. The three in the middle is what evolved several years ago. I'll just point to one, which is courage. Courage is not the most important value, but it is one of the important values that you see here, which is it's about taking on things that nobody else will. It's about going down roads that are unpaved. It's about taking risks and being willing to disrupt yourselves. It's being incredibly bold with the goals that we set and aspire to greatness for our customers, which is one of the aspects of what drives our 2030 goals. Let me just pause and spend a few minutes here because this is very important. There is guidance that we provide you.
Then there is what we aspire to internally. For our customers, our aspiration is that anybody that's on our platform, a consumer, that we double the household savings rate. It goes right after their pocketbook. For businesses that are on our platform, we want them to be more successful on our platform versus off of our platform. Specifically, what that means is businesses, in general, 50% of them go out of business after five years. Our stated goal is that any business on our platform should be far more successful than if they're not on our platform. We want to be one of the most trusted companies in the world, and we aspire to 20% top line growth. Let me hit on a few things to make this real. Today, consumers that are on our platform, their savings rate is 1.9x those that are not on our platform.
We are actually quite close to doubling the household savings rate of any consumer on our platform. Any business that's on our platform, their success rate is 21 points already. We've exceeded the goal, but we need to sustain it. They're 21 points more successful on our platform versus if they are off our platform. The second and last thing I would touch on on this page is Intuit grew 16% this past year. Internally, we believe 20% is possible. It's our aspiration. Our business group grew 16%. The overall consumer platform grew 15% this year. How could we get to 20%? We have to be great at many things, but the three things that matter are all of our AI investments are fueling massive adoption of services. The second is we sustain 40%+ growth with TurboTax Live. Low penetration, it's possible. Third, we sustain 40% growth in mid-market.
We're just getting started, and our penetration is low. That's our aspirations of what's possible by delivering incredible benefits for our customers. How will we do it? Our AI-driven expert platform, there are two, three things that are important for you to take away. It is data plus AI plus HI, human intelligence. That is our differentiation. Ultimately, it is to deliver experiences that are done for customers with no dead ends because of human intelligence that sits on our AI platform. The second most important thing is that we are building a system of intelligence. What does that mean? We are building our systems in a way where we're disrupting business logic so that ultimately the customer can engage with us and ask for, how do I grow my business? How do I sell wine that's over $50 versus other competitors? Which customers are most profitable?
Let me give you my POS data. Can you tell me which areas I should focus on? Whatever you want to engage with the platform on, we ultimately, our data, AI, and HI capabilities deliver that experience. That is a system of intelligence. That is our strategy. That's what you're going to experience today. We made a significant shift this year, the last few months, and we narrowed the company's five bets to three bets. It was a significant shift in capital allocation, a significant shift in our talent because of the progress that we've made and because we now see where we're getting traction to accelerate growth. The three bets are shifting and accelerating delivering done-for-you experiences. Marketing is done for you. Customer management is done for you. Cash flow management is done for you. Payroll is done for you. Your books are done for you.
Your accounting is done for you. Your taxes are done for you. All of which never has a dead end because it's AI plus HI with the massive data we have and the capabilities to ingest data. That's the done-for-you experience across the entire platform. The second, money is everything. People don't do taxes because they love taxes. They want the money. Businesses follow their passion, but cash flow matters. We are accelerating all of our investments around money, helping you get immediate access to your refund, helping you with how to grow your refund, helping you with how to grow your savings. You are going to see all of these launches of innovation today of how we are doing that, which all leads to taxes are done with Intuit. The same thing, making money the center of what we do on our business platform. Last but not least, mid-market.
We believe very strongly that mid-market will be bigger than Intuit is today, sooner rather than later. It is a massive opportunity, and we are going to disrupt it with AI-native platform, with AI plus HI, with a peripheral of data that we have. If I were to zoom out and just talk a moment about our advantage and what gives us confidence. First, it is important for all of you to know we operate as a company with paranoia, with passion, and hunger. When you hear the words advantage and where we have confidence, please know that we operate in a mode where every day and every week matters. With that said, to win in the era of AI, data, data, data, data matters. I am talking about a long tail of data.
When you see here that we have 625,000 data points per business or over 70,000 data points for consumer, that is not generic. That is I have data and understand you as a plumber and what you do as a plumber. I have data and understand what you do, all your money in and money out as a landscaper, as a hairstylist, wealth management. These data points are not generic data points. It is data points that drive the success of specific businesses in specific industries and consumers, depending on where they are in their life. Data is our advantage. We have incredible data, but more importantly, we have built data services that can ingest data from anywhere. Gmail, Excel, take a picture so customers can contribute their data.
The second is we move over $1 trillion, nearly $1 trillion of money, which means we know a lot about our customers. We are incredibly advanced when it comes to AI. We have 15+ LLMs that we use. All of it is driven by our internal Intuit financial large language models. We work with the best of the best and are in the forefront of what is possible with LLMs. If I were to zoom out, there are three big advantages that we have. It is data and data services, and everything is about data. It is AI plus HI. That is our advantage, which is human intelligence that sits on our AI platform. It's been the system of record.
As I said earlier, our focus is to become the system of intelligence, building learning systems that learn from customers and deliver all the experiences that they need versus business logic workflows, assuming you know exactly what the customer wants, because that's possible in the era of data and AI. Let's shift to some proof points. Let me orient you before I get into a few proof points. I'm going to share proof points around done-for-you experiences. What progress have we made? Consumer platform, small business, and mid-market. In terms of done-for-you experiences, in July, we launched one of our biggest launches, a virtual team of AI agents that do the work for our businesses. We have well over 2 million customers on our business platform that are engaging with the AI agents. Over 80% repeat engagement. Those that use our AI accounting agent are saving 12 hours a month.
Customers that are using our AI agents for money are getting paid five days faster. Any interaction on routine tasks with AI agents, they're 2x faster to get to complete. This is since our July launch. The second is with all of our data, AI, and HI investments in tax. Customers that choose to do taxes themselves at the scale that we have are getting their taxes done nearly 12% faster. Experts that do taxes for our customers, a 20% reduction year- over- year. I want you to think about that. Data, AI, and HI at scale driving those kinds of savings. Internally, you're going to hear a lot from Alex. Engineers that use our AI assistants are coding 40% faster. Each developer, on average, is delivering 39% more code today than a year ago. We are becoming a rocket ship based on leveraging data and AI.
On the consumer platform, I know I touched on this a few times, but everybody asks, what proof points do you have around AI? How about a $2 billion business that's growing 47%? That's all data, AI, and HI. It's a rocket ship, and we're just getting started. The second is the proof point of all the integration between Credit Karma and TurboTax. Credit Karma contributed to one point of tax growth this year, and we're just getting started. As I said, money is the center of everything. You can see on this slide, we invested in our money offering, and we gave early access to refunds in tune of $14 billion this year. The TurboTax Credit Karma platform becoming one is working. The second, I think our business platform is the best example of all-in-one that's working incredibly well. You can see here that our customers in the U.S.
grew 8%. Our ARPC is up 14%. QB Live, which is HI, up 2x from a year ago. By the way, any customer that uses one of our experts, the attached rate of payments and payroll is 22 points higher. You can see money and payroll grew 37% and 25% respectively because we are a platform where data, AI, and HI is doing all of the work. In mid-market, as I said earlier, we're just getting started. 23% customer growth, 40% revenue growth. What I think we're the most excited about is that revenue per contract is $27,000. You can see the penetration of payments and payroll is much higher with Intuit Enterprise Suite. Why? Because it's a platform.
I think the most important thing I would call out on this page is the Forrester study that we had done that demonstrates that customers that are on Intuit Enterprise Suite see a 300% return on their investment over a three-year period. Why? One, because we consolidate their tech stack on all their data in one place. Then we're doing the work for them, delivering insights where they can grow their top line. That's one driver. It's almost 1/3 of the driver of the 300%. The second, because we're combining everything on one platform, we're driving automation across the platform, eliminating manual work across money in, money out, payroll. They're saving a ton of money through automation. They don't need as many people. Third, we're consolidating their tech stack. You remember the slide I showed you earlier with 25 different apps? People pay for those.
We're eliminating 80% of the apps on that slide, and their tech consolidates, their cost consolidates. We get paid a lot more, but they're saving a ton of money. That's where the 300% comes into play. We're super excited about our proof points to truly become the system of intelligence. We have all the pieces and parts to really fuel the next chapter of success for our customers. Now, let me talk about one of our secret sauces. I often get asked, particularly by new analysts and/or investors that are covering Intuit, how do you all do all of this stuff? What's your secret sauce? It's our Intuit operating system, which we revisit once, sometimes twice a year. As I said earlier, we take a day-one mindset to everything that we do. We're not in love with what we declare.
We're in love with what we need to do and get done. Our Intuit operating system is really, if I were to frame it at the highest level and not get into too many of the details, it's one, to help us balance short and long. It's to help us with prioritization and roadblocks. It's to actually understand how we change our build process. You know, our build process today is very different than a year ago. It's not about requirements and getting in a room and let's debate and let's talk about PowerPoint. Let's go build. A learning system learns from customers faster than any requirements document that can be put together. Our operating system allows us to move faster than entrepreneurs and at the scale of the company. I don't want you to hear we're perfect.
I want you to hear that we architect the company continuously for velocity to win both short-term and long-term. This is our secret sauce. In fact, at my staff meeting this Monday, we evolved a few things because we learned that certain things aren't working and we need to change them. Let me bring all of this to a close before I turn it over to Alex. I want to bring it to a close. If you've not paid attention to anything I've said so far, please pay attention to what you're about to see. What you're about to see is all of our launches that are in market today, with a few that are coming in the next few months. What you're about to see is not a vision clip. It is what's in market today. It's what's coming in the next few months.
It's an important umbrella for what you're going to hear and see in the next couple of hours. Can you roll the video, please? If I could summarize three quick things that are not just about the summary of what you saw in the video, but what you should expect to see and hear in the next couple of hours. One, we are a data, AI, and HI company. Our strategy and the things that we're going to do is not in the future. It's here, and we are rapidly becoming the system of intelligence by architecting everything that we do that can learn from customers and deliver the experiences on the spot because of all of the capabilities that we've built. That's one element of what you saw.
The second, which we're not going to get into today, but I wanted to call it out, is we have a huge launch coming up in the next month at Intuit Connect, which is a platform for accountants to be able to run their entire firm on our platform. That's in essence a glimpse that you saw in here, and our teams have been working on this for a very long time. That's a very big change and driver of growth for the future. The third is monetization. There are three ways in which we are monetizing today: new customer growth, adoption of services, which is consumption, payments, payroll, live, and third is lineup, mix, and upgrades based on what's available where. Those are three ways in which we are monetizing today.
We also remain open to new monetization models based on what's possible, based on consumption and what we learn from customers. Awesome. With that, let me turn it over to Alex.
Thank you, Sasan. Hello, I'm Alex Balazs, Intuit's Chief Technology Officer. Today, I'm going to walk you through how our platform continues to fuel agility, innovation, and velocity at Intuit. Let's start with a couple of takeaways, which will describe the power of the Intuit technology platform. Data, data services, and AI are our durable advantage. As we evolve from a system of record to a system of intelligence, our all-in-one platform and agentic capabilities fuel customer growth. Our powerful combination of artificial intelligence, human intelligence, and platform leverage both velocity, efficiency, and innovation for our customers. We're guided by our platform strategy to be a global AI-driven expert platform. It's a declaration we made seven years ago.
We are evolving from the system of record into the system of intelligence because we draw from the combination of the power of our investments in artificial intelligence, human intelligence, and our platform that uses data both from inside of Intuit and outside of Intuit. This is a platform that does all the work for you. It's not reliant on the concept of business applications. This is the place where customers can achieve insights into their financials and run their daily lives, whether it's a consumer or a business. We've really architected the company for velocity through our technology platform. It fuels done-for-you experiences based on the principles of agility, innovation, and velocity. Our teams are empowered to move quickly with very few dependencies. They innovate to deliver customer solutions quickly using our capabilities, our data, our data services, our AI, and our builder culture.
They drive both the velocity and efficiency that are truly our durable advantage as a company. We've also supercharged the Intuit platform to give our customers access to what they need at the time that they need it. We continue to enhance our generative AI operating system, GenOS, to accelerate this agility, innovation, and velocity that I talked about before. By rapidly advancing GenOS, we've dramatically stepped up the pace of our innovation to further unleash the power of this data, of the AI, and the human intelligence on our platform to truly become this system of intelligence for our customers. The latest release of GenOS empowers our developers to rapidly put robust agentic experiences into the hands of our consumers and businesses. As a reminder, this is the slide that I showed you last year. It actually serves as our system of record.
It's basically the location where all of our customers' capabilities and data are that solves their problem. It's the all-in-one platform, and it solves any customer job. You'll see examples of this all-in-one platform in the following business and consumer platform presentations, and they're all powered by this, the City Map. This is our platform. We've been building the Intuit platform for nearly a decade, and now we can combine these capabilities in accounting, payments, taxes, marketing, together with clean data and world-class AI to create these AI-native experiences better and faster than before. All the jobs to be done or the solutions to these customers' problems can be addressed by the City Map in order to solve our customers' problems faster through leveraging and reuse of these capabilities. It's actually a big competitive advantage for us.
Now, with the combination of artificial intelligence, human intelligence, and our data, we truly have become the system of intelligence. We can build customized solutions and personalized products that solve any job. We sit as the intelligent middleware in between the jobs to be done, the things that customers want solved, and the underlying capabilities of our platform. Customers have the ability to accomplish what they need, whether it's financial services, customer relationship management, or any other action. Here's the best part. They don't have to leave our platform. They stay on platform. This is truly being the system of intelligence. The entire City Map is supported by our development ecosystem. It's a world-class environment that enables our developers to deliver code fast with security and compliance built in.
We've achieved a 69% reduction in incident resolution time in the last three years and achieved five nines of service availability, really world-class. By achieving five nines of service availability, we've had 100% uptime the past two TurboTax seasons. Our data infrastructure provides self-service capabilities, reusable systems to organize, process, interpret, stream, and store data so we can build smarter products and experiences. It is this infrastructure that allows us to store the data that we're actually using to train our models. We're delivering 188 million interactions through natural language, which really illustrates the scale of our infrastructure. In the last fiscal year, GenOS actually enabled 9,800 model deployment events. 9,800. That reflects our ability to build, test, and iterate with AI with a high velocity.
It also is illustrating that we really have a balanced approach in applying both generative AI and traditional and classic AI techniques as we're building these experiences. Our data infrastructure is really the foundation that all of our products are built on, including the Intuit Enterprise Suite, which is a key product for one of our Big Bets, fueling the success of the mid-market. Our AI infrastructure is the key for our data, data services, and AI durable advantage. They're the capabilities that enable machine learning, knowledge engineering, and large language model development. Our AI infrastructure capabilities allow our developers to choose the model that's best suited to the problem that they're solving. Today, we have over 1,300 of our engineers who are actively working on building agents with GenOS due to these foundational building blocks.
These AI infrastructure capabilities are accelerating the building of these agentic capabilities, including the accounting agent. It's one of the things you saw in the demo, the accounting agent for businesses and Credit Karma's refund assistance, across all business and consumer workflows. We're continuing to work on the Model Context Protocol as well, which is a mechanism, an API, so that agents can talk to data, can talk to services, and facilitate agents to talk with each other. Embedded fintech provides an environment that allows our developers to build financing and payment solutions. Our fintech capabilities support one of our Big Bets, accelerate money benefits, over $890 billion of money movement, and facilitating 18 million employees to get paid. This results in our customers being able to make payments and effectively manage their money and their cash flow.
In the following presentations, you'll see some examples of these features used by a construction company on the business platform presentation. Our domain capabilities, that's really our secret sauce as a platform because it enables our developers to build these customer-facing products in the areas that are truly Intuit's areas of expertise. For our reimagined QuickBooks platform experience, we were able to build it 6x faster with City Map capabilities than we would have if we built it from scratch. In fact, 3 million of our business intelligence customers come to our platform to see all their data in one place on our all-in-one platform. We've invested in these AI capabilities for several years, and we're operating at an enormous scale. You can see some of the numbers here.
We'll continue to invest in data and AI to serve our customers through the scale of the clean data that we have, our data and AI infrastructure to maintain customer attributes, and, very importantly, dynamic usage of large language models. This allows us to do things that we haven't been able to do before and to deliver better customer benefit. Our durable advantage of data and AI accelerates us, and it drives business impact. It's this technology that fuels the done-for-you experiences, money, and mid-market. As I said before, and as Sasan mentioned, we are definitely architecting the company for velocity. It's always something that's very top of mind for me. We've made great progress with key drivers of platform velocity. It's allowed teams to move faster when building these customer experiences.
In the past year, we've increased the number of AI tools that are available to our developers and different members of the workforce. We've accelerated on cutting-edge technology and really doubled down on builder culture. To get really specific about it, our GenAI-powered workforce has really, we've really amped up their velocity. Here are a couple of key metrics that really illustrate how they can move faster, and because of that, they can deliver more for our customers. Developer velocity, we're continuing to use that as a lever. It's increased 12x over the past five years. The GenAI tools have accelerated our workforce productivity to the point where there's 40% average faster coding with AI assistance, which has led to 39% more code per developer. We've seen an improvement in also the contact rate of talking to customer support, a 15% reduction in contact rate in the past year.
All right, those are the capabilities. I'd like to take a pause. It's my pleasure to actually show you some of the massive changes that we're creating for our customers and our employees with this technology. We're achieving powerful efficiencies across all Intuit roles through AI. You are going to see some of these done-for-you experiences that are both for our employees and for our customers. First, Intuit's marketing employees usually spend one to two weeks stitching together in-product campaigns across multiple tools. It is a really complex process because it involves multiple teams, and it involves lots of handoffs. Each of those comes with a service and SLA, so it can be really, really slow. With Intuit's marketing studio, they simply share a brief, answer a few prompts, and then AI generates a complete campaign from start to finish.
Instead of one or two weeks, all of this is done in 20 minutes. This eliminates manual work and enables real-time experimentation, keeping us on the leading edge and really allows us to respond to customer feedback much more quickly. Intuit's sellers are actually used to spending 16 or so hours a week preparing, qualifying leads, preparing for calls, and follow-ups. With our AI seller product support suite, we expect to save 256 hours per seller per year. How are we doing that? AI now recommends high-quality leads, automatically books the meetings, and prepares the insights. It dramatically reduces the time of busy work, so our sellers spend more time selling, building relationships, and converting opportunities into revenue. Something that is obviously very close to me, our developers.
Our developers used to waste weeks on writing down product requirements, creating mockups, and setting up environments before they could even start coding. Weeks before they could even start coding. With Intuit DevAssist, customer feedback instantly becomes requirements, auto-generates mockups, and creates the boilerplate code. It helps our developers deliver features 40% faster. Instead of spending weeks getting prepared, they are actually out in front of customers in days. We can get these curated products to our customers faster, and we can learn faster. Now, I want to show you what we are working on, including AI scaffolding and avatars that may one day provide guidance and insights to our customers. As we look at the next generation of technology for mid-market businesses, we know every single business is unique. There is pain in actually getting custom solutions, and it leads to the over-digitization that Sasan mentioned before.
We see that for about every $100 million of revenue for one of these customers, they spend an average of $5 million on consultants to build custom tools for them. We are exploring how to solve this for mid-market, for their internal operations, and for their customer-facing engagements. Powering the back office is something we refer to as Project Scaffolding AI. It is a self-learning agent that assesses policies, documents, observes patterns, and adapts to each customer's business as it evolves. It learns what is important. No consultants, no long setup, and mid-market businesses do not need to know how to build or to refine this agent. Scaffolding AI does all the work for them so they never have to leave our platform. That is the back office. Let me actually show you exactly how this looks. Let's take one of our customers, Sarah.
She runs a large real estate firm. Scaffolding AI will give her a competitive edge through this tailored functionality. Her custom-created agent understands her business. It learns how her team manages offer to close, working across all her software systems, not just ours, but any software system she has. It generates custom business processes using reinforcement learning, business-aware orchestration, and tool integration, automatically integrating all these tools. These intelligent systems learn and do the work for Sarah so that she does not have to do it, and she does not have to hire anyone to do it. Sarah will be able to approve the new process, and the agent will update it in real time. With Scaffolding AI, it is all done for her and all done in one place. Now let's get to the front office.
This is the one I am really excited about, I almost jumped the gun. In the front office, through AI avatars powered by Intuit's multimodal AI, in minutes, Sarah can create a digital twin. It is her face, it is her voice, it is her style of talking. Sarah connects on a personal level with more clients more quickly through this AI-powered avatar messaging. In just minutes, Sarah can create custom multimodal messaging personalized to thousands of customers. Our research suggests that Sarah will have 4x higher conversion and 3.5x more retention using this capability. Through the combination of Scaffolding AI and AI avatars, it's really just the beginning of how Intuit is revolutionizing the future for mid-market businesses. We can't wait to empower these solutions for our customers using the next generation of AI done-for-you experiences so they never leave the Intuit platform.
To close, our AI-driven expert platform, our data, our scale, our world-class platform capabilities, and our talent are our durable advantages. It allows us to deliver both growth and innovation. We have supercharged the Intuit platform to be the system of intelligence, giving our customers access to personalized, easy-to-use, done-for-you experiences using the combination of artificial intelligence and human intelligence. We're creating differentiated value for our customers with agility, innovation, and velocity to better deliver what the customers want, what they need, and at the time that they need it. This is only the beginning of the platform innovations that we're looking to deliver, all in service to powering the prosperity of our customers. With that, I'll turn it over to my colleague, Marianna Tessel.
Hi, everyone. I'm super excited to be here today. I'm the General Manager of our Small Business Group, and I'll be joined here today by Ashley, who leads our Mid-Market team, and by David, who leads our Services team. Together, we will tell you the story of our incredible vision and progress of the Global Business Solutions Group. We'll cover three key points today that I want you to take away that make us very confident in our trajectory. The first one is that we have a massive opportunity across a large TAM, and we increase our penetration from 5% to 6%. The second is that our all-in-one platform serves as the system of intelligence for our customers to run and grow their business. Last, our platform scales to serve all kinds of businesses from small to large. Fiscal year 2025 was a milestone year for GBSG.
We drove 16% total revenue growth, surpassing the $10 billion mark for our franchise. We scaled to an impressive $11.1 billion in revenue. I'm particularly proud of the meaningful progress we've made on our stated strategy to increase platform adoption and disrupt the mid-market. Look at some of the stats. We grew our online ecosystem revenue by 20%, our money revenue 37%, payroll 25%, and mid-market revenue by 40%. As we look ahead, we're excited to continue to build on this momentum in fiscal year 2026 and beyond. Let's anchor back in our mission, which is to power prosperity around the world. For our team, that means solving small and mid-market businesses' most pressing challenges. We know that every business has similar critical needs, from getting customers to getting paid and staying compliant and organized.
Our audiences are broad, and we're serving more customers than ever before across many dimensions of complexity, small businesses and solopreneurs that are just getting started, all the way to multi-entity mid-market corporations generating millions of dollars each year and actually growing rapidly. We also serve many business types across industries and geographies. This breadth of customer needs and audiences gives us a massive total addressable market. When you look at the largest opportunities by customer needs, nearly half of it is in money, as all customers need to pay vendors, get paid, and get capital. When you look at it by audience, nearly half of it is in mid-market, despite being a relatively small subset in terms of number of customers. This is exactly why accelerating money benefits and fueling success for mid-market are two of our three Big Bets.
It is also why the ARPC expansion is a key focus of our growth formula. What does it look for customers today? Small businesses spend a lot of time, and we're spending a lot of time speaking to them and to our small and mid-market customers. What we hear from them is consistently that they feel overwhelmed, they feel over-digitized, and they have a lot of complexity that they need to manage. Businesses today are making do with fragmented tech stacks using a patchwork of different apps that don't talk to each other. All of this is resulting in more time that they spend with their data silos, limited visibility into their financial health, and they actually end up paying more in total cost of ownership to use and integrate all these tools.
What businesses really want is a single connected platform to reduce this complexity and to help them thrive. They want consolidated data, consolidated tech stacks, and consolidated spend. This is exactly our vision and exactly where we come in. Our vision is to be the connected end-to-end platform that small and mid-market businesses rely on every single day to run and grow their business. Our platform powers prosperity by delivering undisputed benefits of more money, no work, and complete confidence. To bring this vision to our customers, we're building a mission-critical all-in-one platform that serves as the system of intelligence. Our platform solves the complexity for our customers and enables them to run and grow their business. It leverages, like Alex said, a combination of data, AI, and human intelligence, all of it to deliver powerful done-for-you experiences.
The breadth of the offerings in our platform meets the needs of any business, small or large. For small businesses just getting started, we can help them discover the right solutions at the right time. As businesses grow into the mid-market, our platform is robust enough to grow with them, handling their increased complexity and actually helping them scale. As we mentioned before, this past July, we totally reimagined how customers experience our platform. At the heart of this new experience, it serves all jobs to be done all in one place with more seamless integrated experiences. It also improves discoverability of our different offerings. It is global, and it is mobile, meeting our customers wherever they are. It is built with done-for-you experiences at the core, powered by both AI and human intelligence. It introduces new jobs.
For example, we brought a powerful CRM capability directly into our platform with Customer Hub. We are seeing solid traction at scale since we launched, with strong engagement across nearly 9 million customers. Now, let's go deeper into some of the different elements of our all-in-one platform and the momentum we're seeing. Let me start by how we're delivering a revolutionary done-for-you experience. In a massive launch this past July, we introduced first-of-its-kind virtual team of agents, including accounting agent, payment agent, payroll, customer agent, and more. These AI agents are seamlessly embedded across our platform, transforming how customers do their work and grow their business. While this is still early, we're seeing incredible momentum. Customers are twice as fast completing routine tasks, and we're seeing nearly 80% repeat engagement across agents. What makes these capabilities particularly powerful is their seamless integration with AI-enabled human experts, providing complete confidence.
Like we mentioned before, we're seeing momentum here as well, with QuickBooks Live customers doubling since last year. We are also further empowering businesses to understand their financials and run their business with powerful BI and seamless workflows that simplify important tasks like reconciliation and month close, driving better, quicker business decisions and unleashing the growth for our customers. With business intelligence, we help customers to run their business more effectively, highlighting trends, identifying root causes, and even proactively surfacing insights. Our accounting agent does work for customers with impressive accuracy, saving customers 12 hours per month on average. Within our money portfolio, we have a massive opportunity to be the end-to-end money platform of choice, including accounts receivable, accounts payable, and capital. We launched exciting new innovations this past year. For example, our payment agent, which helps customers get paid on average five days faster.
By the way, this is one of our highest repeat usage rates. We have our AI-powered bill ingestion and multi-product lending capabilities. This is just to name a few innovations in our money portfolio. These innovations contributed to our incredible results. Our online money portfolio revenue.
Now $1.4 billion, and it is up 37% year- over- year. Our total payment volume is now $174 billion, and it is up 34% year- over- year. Within workforce solutions, our vision is to power prosperity for employers and their teams by reimagining how they work and grow. This year, we delivered 25% growth in online payroll revenue. We served more than 18 million employees and processed over $300 billion of payroll. We launched new innovations here as well, like our payroll agent to streamline workforce management. We also acquired a company called GoCo in Q3 of fiscal year 2025. This acquisition enabled us to deliver a more comprehensive workforce solutions suite with robust human capital management included, especially for mid-market customers with large and growing teams. Let's talk about Mailchimp. Mailchimp represents the marketing job in our platform. It helps SMB to get, grow, and manage customers.
While we're constructively dissatisfied with our results in fiscal year 2025, we made foundational progress this year. In product, for example, we released multiple innovations, including improved SMS offering, and we have seen and continue to see great adoption. Customers that are using it are spending 76% more with us on average. On the go-to-market side, we improved our motions, and we focused on high-value mid-market customers. Sales productivity doubled in July when you compare it to April. Looking ahead, we're focused on three key areas to build momentum throughout the year: our product, go-to-market, and our platform experience. First, we're going to enhance our product. We're introducing improved segmentation, campaign management, and omnichannel communication that includes SMS, WhatsApp, and transactional emails. Second, our go-to-market motions. We're refreshing our marketing, we're improving sales and onboarding of customers, and we're also investing in integration with a few strategic partners.
Finally, our end-to-end platform experience. We're deepening our platform workflows and driving awareness and engagement of the marketing and CRM jobs. All of it unlocking the abilities for SMBs to get, grow, and manage customers within our platform. Overall, I'm proud of the progress we made and feel confident in our plan to achieve double-digit Mailchimp revenue growth by fiscal year 2026 exit. Together, these platform innovations are successfully bringing our vision to life. With them, our all-in-one platform is delivering undisputed benefit. You can see some of it on the screen here. AI and human intelligence are expected to create meaningful long-term acceleration for Intuit, benefiting our shareholders as well. Let me start by reminding you about the direct monetization actions we've already taken.
Our AI agents are delivering incredible customer benefits, and when we launched them in July, we actually increased the price for our SKUs to reflect that enhanced value. As we look ahead, we expect to further monetize our AI and human intelligence capabilities in a few key ways. The first one is to increase platform adoption. Our AI agents' human expert can help customers discover relevant offerings across the platform. The second one is to improve SKU mix and upgrades. We were very intentional in including agents across our SKUs, with customers able to unlock more agents and more capabilities with higher SKUs. The third, it actually helps with customer growth. Our AI and live experts are revolutionizing speed to benefit for our customers and expect it to drive funnel and retention improvements. Finally, we will continue to monetize directly.
When I take a step back and look at the amazing innovations and results we delivered this past year, I'm so proud of what the team has accomplished. We are so excited that our all-in-one AI-driven expert platform is so clearly resonating with our customers. It gives us a lot of confidence in our opportunity to build on this momentum ahead. With that, we'd like to bring this platform experience to life for you. For that, I'd like to invite David on stage for our first demo.
Thank you.
Good morning, everyone. Thank you, Marianna. That was great. As Marianna highlighted, customers want more money, less work, and the complete confidence to grow. We've delivered that through an all-in-one platform that brings together the key jobs that businesses do every day. It's all powered by connected data, AI, plus human expertise. This July, we updated QuickBooks with design, automation, and business insights to make running a business easier. To show you just how much has changed, I'm actually going to start with the old version. Our old design was anchored on accounting and didn't offer visibility and easy navigation to our leading services like payroll and payments. In fact, 70% of our prospective customers didn't even know we offered payroll, and 65% didn't know that we offered payments.
This is despite the fact that we are the largest SMB payroll provider, and despite the fact that we do $174 billion of charge volume. The new QuickBooks experience changes all of that. It's a transformative all-in-one platform to manage the entire lead-to-cash journey, limiting the need for separate apps. Let me take you through that experience that Marianna showed a little bit earlier. First, the app carousel. It makes discovering our offerings easier than ever. This includes our newest offering, the Customer Hub, which brings CRM directly into the platform. Next, with Intuit's AI front and center, customers soon can ask anything, and our platform will get it done. By harnessing the full power of our platform, we're going to deliver more than just answers. Our customers have seamless access to AI agents and human experts.
We also deliver detailed insights and recommendations on data across our platform, as well as any data that's uploaded into our platform for richer insights. The business feed is a real-time source of truth, summarizing what matters most. Soon, a daily summary of what is most important to our customers will be delivered directly to their phone. The dynamic dashboard is fully customized and fully customizable, giving businesses real-time insights into what matters most. As we step back, the results are clear. Customers are unlocking next-level efficiency and growth. Millions of customers have already used our AI agents, enabling them to complete routine tasks twice as fast. Let's bring all this to life through Alejandra, who owns a construction business with $2 million in revenue and six employees. She’s focused on modernizing her operations, reducing manual work, and gaining insights to fuel her revenue growth.
Yet, high-quality insights can be hard to come by for many business owners. You heard earlier, they’re increasingly experimenting with AI, but the tools they’re trying lack real-time access to their own data and certainly don’t have the advantage of data for businesses like theirs. By harnessing our all-in-one platform, combining data and decades of experience, we cut through all the noise and deliver clear, actionable guidance. Coming soon, Alejandra’s experience will change with our AI-powered chat experience. I’m going to show you that right now. Alejandra opens up QuickBooks and starts a chat to see how she can improve her profitability. Since Alejandra is on our platform, we’re able to analyze her data as well as compare it to businesses like hers. We can then highlight the key drivers that impact her profitability, her revenue, and her expenses.
In Alejandra’s case, material costs and labor costs stand out as the key drivers of higher spend, both higher than her peers, pulling her profit margin below businesses like hers. Alejandra wants to lower her material costs, so she uploads her vendor pricing list. After scanning and comparing the vendor pricing list, we break down pricing across her vendors and provide actionable insights to reduce cost. Now that Alejandra has identified ways to lower her material costs, she wants to turn her attention to labor costs, and she asks what to do. We analyze her numbers, showing that overtime currently makes up a significant part of her spend compared to similar businesses, and give her some insights into how she can control her overtime. To ensure that she has a clear sense of what steps to take next, we suggest a summary.
She asked to include last year’s data in the summary, and she receives a clear prioritized set of key steps powered by her data and that of similar businesses, showing that her profit margins are projected to increase. If she wants extra confidence, we proactively surface the option to connect with an AI-enabled human expert, ready to develop an actionable plan. This is the power of AI and human intelligence all in one place. By harnessing the full power of the platform and leveraging the 625,000 customer and financial attributes that we referenced earlier for every small business, we're bringing all their data together in one place so that it's always up to date. The biggest problem for small businesses is actually getting and growing customers. On our platform, small businesses already manage 3.5 billion customer records, making us one of the largest customer management systems around.
They couldn't add all the data they needed, things like lead status, notes, full metadata. With our Customer Hub, we're going to give them exactly what they want: CRM capabilities inside of QuickBooks. Soon, they'll be able to manage their entire lead-to-cash journey all in one place. Let's see how Alejandra's experience will change with a customer agent while she's in between site visits. The customer agent alerts her to five new leads across her channels. She reviews, and she can see the leads are clearly organized, making it easy for her to prioritize. She clicks into Derek's profile, a promising lead from Gmail who's looking for a kitchen remodel. A customer agent will auto-draft a response for her, and they land a time to meet. During the site visit, she can capture photos and even audio notes directly into Derek's profile. With one tap, she can create an estimate.
This is auto-filled with all the context from her previous emails, from her notes, as well as data we have about previous services she's offered and prices she's offered previously. She sends it to Derek, and he approves. After the work is complete, Alejandra can easily convert it to an invoice and send it over to Derek. Derek receives the invoice via email on his phone. Because he previously saved his payments information when he worked with another QuickBooks customer, his invoice is ready to pay with one click. This is important. Alejandra and Derek are benefiting from the fact that we have more than 60 million saved wallets on our platform with credit card data and bank data. This lets our customers offer seamless checkout to their customers, which boosts conversion. With one tap, he can pay. Alejandra gets notified, and the money is in her account.
We're building the entire lead-to-cash workflow directly into QuickBooks. Everything from generating leads to estimates to e-signatures, proposals, and payments, it will all be in one place. This makes every touchpoint an opportunity for revenue and long-term growth. For customers who need advanced marketing, they can connect their data seamlessly with Mailchimp. From one platform, they can launch engaging emails, SMS messages, or even full omnichannel campaigns. Now, let's switch gears. Paying and managing employees is critical to growth, but payroll is time-consuming. We hear it over and over again from our customers. 70% report chasing missing data, and many customers talk about how they spend 80+ hours a year on payroll and taxes. We pay out over $330 billion annually to 18 million workers through our payroll offering.
With that scale, we've built a payroll agent that can take on the heavy lifting, turning a painful, error-prone process into a seamless, automated workflow. Let's see how the payroll agent works for Alejandra with her preferred format, which is simple text messages. The payroll agent reaches out via text to Ted, Alejandra's construction manager, to collect the hours that he worked this week. It automatically translates those texts into structured, payroll-ready data. No manual entry required. It can notice anomalies. In this case, Ted didn't provide hours for Wednesday, so it can automatically follow up. Once the data is in, the payroll agent texts Alejandra a summary of the total payroll and asks if she's ready to run it. Alejandra simply replies yes. In seconds, payroll is complete. With the payroll agent, Alejandra no longer wastes hours chasing data or worrying about errors.
Payroll is not only faster, it's proactive, it's automated, and it's ready to run the next cycle. That means that Alejandra can focus less time on admin work and more time growing her business. The all-in-one platform I just showed you serves our small businesses, and it's the foundation for our mid-market customers you're going to hear about shortly. By consolidating their tech stack and data, we unlock insights, automate workflows, reduce spend, and drive higher ROI. Customers avoid paying for redundant apps like payroll and payments and CRM. We deliver done-for-you experiences through AI and experts, freeing them to focus on growth. Our vision is clear: to be the connected end-to-end platform our customers rely on every day to run and grow their business. Customers choose us because we save them time, we lower their cost, and we give them the confidence to make better decisions every day.
Thank you. With that, I'd like to bring up Ashley Still.
Thank you, David. Good morning, everybody. How's everybody doing? Good. I am so excited to be here leading our mid-market business and the massive opportunity that we are executing on. As Marianna shared, we had an exceptional year in the mid-market group, growing revenue 40% year- over- year. We grew mid-market customers 23% year- over- year to nearly 350,000. Our IES average revenue per contract is $27,000, and we nearly doubled the average revenue of customers that are upgrading from within our franchise. IES launched just one year ago. This early traction that we're seeing really underscores the strong demand that we have for our all-in-one platform. When we think about our mid-market opportunity, we're focused primarily on two segments: emerging mid-market businesses with revenue in the single-digit millions and larger mid-market businesses with revenue ranging from $10 million to over $100 million.
These companies are under or overserved in the market today, which gives Intuit a huge white space opportunity. 800,000 mid-market customers are already using our core QBO offerings. We're deepening penetration of the massive $89 billion TAM by upselling our existing customers to offerings that are right for them, tailored to their size, business needs, and complexity. While our current focus is $2.5 million- $100+ million , we are absolutely not limiting ourselves. We're going after larger customers and ensuring our platform scales as our focus expands. I want to spend a minute on the challenges that mid-market businesses face. Sasan and Marianna both spoke about the issues with overdigitization and the massive problems, whether it's data silos, limited visibility, and high total cost of ownership that this creates for businesses.
As businesses grow, these issues actually become even more pronounced because they have more customers, they have more employees, they have more vendors, they have more entities. Businesses add more and more apps to try to manage this complexity, but it actually ends up exacerbating this overdigitization. To address this, we've expanded our all-in-one platform with advanced capabilities so that businesses can grow to $100 million and beyond. Importantly, this means customers can grow with Intuit, whether with advanced or with IES. Take a small business that starts on QBO Essentials. As the businesses grow in size and needs, that business can seamlessly upgrade to advanced. When they hit hypergrowth with multiple operating entities, industry-specific needs, more invoices, more bills, more employees to manage, IES is there for them with an intuitive interface, simple onboarding experience, and lower cost of ownership.
Gone are the days when growing your business means needing to migrate off of the Intuit platform. As I mentioned, we launched IES just one year ago. It is a modern AI-powered ERP without the cost and complexity that comes with legacy ERPs. First, it's an all-in-one platform with integrated workflows from accounting to AR to AP to workforce, all the workflows that mid-market businesses need, all working together. It has robust multi-entity capabilities, advanced AI-powered automation that takes the power of AI and HI to the next level, and real-time business insights that actually help businesses make decisions on how to grow and where to invest. I cannot emphasize enough the power of the IES experience. It's an intuitive interface familiar to anyone that's used QuickBooks. I've talked to so many customers who tell me they are afraid of their ERP. They're not afraid of IES.
The Intuit platform also gives us innovation velocity. We've had three major releases since launch, releasing new agents and over 80 features, and we are just getting started. We win on experience, price, and total cost of ownership, and we're seeing momentum build rapidly. We're achieving impressive annual revenue per contract, and we doubled new build IES customers in Q4 versus Q3 of 2025. I want to highlight some of the key differentiators that are resonating with customers. In the last few months, I've spent a lot of time engaging with mid-market businesses, whether it's the business owners themselves, the finance leaders, and their accounting partners. They consistently tell me that they struggle to make informed business decisions. The reason why is they don't have a reliable, accurate, and real-time consolidated view across their entire business.
IES is built to solve this pain point, and it has what we call multi-everything at its core. First, there's multi-entity consolidation. This means no more hours manually entering data across 10 different platforms, no more troubleshooting all the errors from manually entering data across all of these interfaces. It's not just about better accounting. Business owners get the real-time consolidated view that they need to run their business. Next, IES delivers multi-dimensional reporting without complexity. This means it's easy to get reports and insights by the unique dimensions of your business. Let's take an example. Take P&L. A real estate company wants to view their P&L often by location. A construction company would want to view their P&L by project, and a nonprofit by program or grant. This is what the multi-dimension capabilities in IES enable. Finally, there's multi-user capabilities.
As businesses grow, employees have to have access to the appropriate data and insights for their role. No more, no less. Going back to the real estate example, a CEO can now grant their regional leads access to only their regional data and maintain separation across regions and at the broader company rollup. IES's multi-everything is the aha moment for so many of our customers and our prospects. The average IES customer has four to six entities, and these capabilities are the core driver of efficiency, improved decision-making, and faster performance that fuel their growth. Next, in addition to the agents and done-for-you experiences that Marianna highlighted, IES has even more powerful and sophisticated agents. First, there's a project management agent, which obviously is incredibly relevant to industries that are project-based, that tracks profitability and automates workflows. It reduces manual project work by up to 60%.
Next, imagine if finance teams could automatically summarize their monthly performance. I've worked with many FP&A professionals for a long time. They all want this. This is what the finance agent delivers. It also offers predictive analyses so teams can make better strategy decisions. We are redefining what truly seamless onboarding means with done-for-you implementation. In IES, we've seen our customers take a 90% take rate on our new automated setup workflows and experiences. Our customers are getting value quickly from the agentic experiences in IES. As you've seen, we have tremendous product value and innovation in IES, and we are accelerating our go-to-market motions to capitalize on this momentum and the opportunity that we have. Our go-to-market engine is both enterprise-grade and highly efficient. It's built on three pillars: high-touch sales and customer success, robust accounting partnerships, and disruptive industry playbooks.
The efficiency and velocity we're building with our direct go-to-market is truly remarkable after being in market for just one year, especially in the last few months since I've onboarded to the team. We're building a world-class sales and customer success team, and the first-year results are impressive. Our seller productivity more than doubled in Q4 versus Q3. Our average sales cycle is less than eight weeks, which is a fraction of typical enterprise sales cycles. We're winning large customers. Half of IES contracts are with customers with $10 million or more in revenue. We've also signed significant deals with even larger customers. We recently signed a deal with a customer with over 200 entities. It's proof that we can serve even more complex customer needs. If a customer is not ready for IES, we're successfully moving them to advanced and driving more adoption of platform services.
We are not starting from scratch. We have deep customer insights from our large installed base that helps us efficiently target and serve our mid-market customers. Now let's talk about accountants. Accountants are critical to the success of mid-market businesses. In fact, over 80% of mid-market QBO customers work with an external accountant. We are scaling our partnership with the accountant community, and we're seeing strong early results. In the last six months, we saw a 2x increase in accountant-driven IES deals. What's really important is accounting firms are transforming their own practices to deliver high-value services, and we view ourselves as their trusted partner in this transformation. IES is strategic for accounting firms because our all-in-one platform enables them to shift from doing the work to delivering insights.
We're structuring our partnerships with large accounting firms to deliver joint value to mutual clients, fully using our platform and reducing manual work, streamlining applications, and enabling these accounting partners to deliver truly high-value business advice. Finally, I want to highlight our progress in unlocking key verticals with scalable playbooks. As I mentioned, we know these customers. Intuit is already a trusted brand of choice across these focus industries. We speak to customers in their language. We lead with their use cases, and we support all of this with powerful customer testimonials and proof points that are relevant to their industry and their business. We also meet them where they are, whether it's online or in person, from podcasts to trade shows. Incredibly importantly, we onboard them with industry best practices so that they realize value in 30 days.
This is the core of our industry marketing and sales approach, and it's supported by industry-specific product capabilities. It's working. More than 40% of our deals in 2025 were in these focus verticals that really show the product-market fit that we have and the impact of these industry go-to-market motions. Sasan talked about this earlier, but it bears reinforcement. We win on three things. We deliver best-in-class experience, disruptive price, and lower total cost of ownership. Legacy ERPs are infamous for being slow, expensive, having incredibly high implementation failure rates, and being very complex and expensive to maintain. IES disrupts this paradigm. We get you up and running with done-for-you implementation. 95% of our customers are up and running in 30 days and realizing value. They save up to $50,000 upfront just on implementation. For many, this is a year or more in licensing fees. The ROI is clear.
As Sasan mentioned, Forrester recently conducted a study and found IES yields 300% projected ROI over three years. This is driven by the efficiency in critical jobs to be done like accounting, payroll, and invoicing, the faster business growth that they enjoy from improved decision-making, and technology cost savings from streamlining all of these backend systems that they currently have onto IES. To bring this to life, I want to highlight two customers and how IS is delivering tangible benefits for them. First, meet Marsha. She's the co-founder of Humble House Foods, and they manufacture and retail specialty sauces. She started using QuickBooks 13 years ago and recently upgraded to IES as her business scaled to a new 10,000 sq ft facility and three business entities. She has told us that IES is saving her 24 hours a month.
That is three full business days because of the consolidated multi-entity capabilities and reporting that she now has. This is absolutely a valuable time that she can reinvest in growing her business faster. Next, meet Chad. He's the CEO of Cornerstone Development Company that operates five business entities across construction, environmental consulting, and engineering. He's used QuickBooks for the last eight years and has already moved with us from Desktop to QB O Advanced, and as of last year, also moved up to I ES. Before IE S, he ran multiple software systems and had to type the same information seven times into different systems for a single project. Seven times. That is a complete waste of time.
Now with IE S, he has been able to grow his business, and he's actually saved on hiring two additional employees and canceled all the unnecessary apps and add-ons, so he's simplifying his tech stack and saving money. As I said, we're just getting started. Nothing is more motivating than hearing firsthand how I E S is improving how our customers work and grow their business. I couldn't be more excited to accelerate this momentum. Before I welcome David back on stage to demo some of these disruptive mid-market experiences, I want to close with the same three takeaways that we started with, which gives us enormous confidence in the global business platform trajectory. We have a large TAM with significant runway. Our all-in-one platform is the system of intelligence for our customers, and our platform seamlessly scales to solve the complex needs of mid-market businesses.
With that, please help me welcome David back to the stage.
Thank you, Ashley. Hello everyone again. I'm back. I'm back to share the latest innovations for our mid-market customers. As you heard from Ashley, it's been just one year since the launch of Intuit Enterprise Suite, and that's where I'm going to focus today. Intuit Enterprise Suite is the all-in-one platform that fuels mid-market business growth. To do the demo, I'm going to bring us back to Alejandra. It's years later. She has strategically acquired some specialty contractors since we saw her last, like renewable energy and masonry across several cities. She's brought some trades in-house. She's expanded markets, and she's grown her business to more than $25 million in revenue. With more than 50 employees, multiple entities, and dozens of projects, her operations are now far more complex than they used to be.
The increasing size and complexity of her business brings with it some very specific challenges: managing multiple entities with no consolidated view of overall performance, slicing data by dimensions or key attributes of the business, more employees, which requires roles-based access, and siloed data across many separate point solutions. To address these challenges, Alejandra is ready to seamlessly upgrade to Intuit Enterprise Suite, where growing with Intuit is simple with minimal disruption. She starts by scheduling a call to connect with her customer success manager, who can help her understand her business needs and her structure. She's excited about the IES offering, so she signs the contract, and it's time to get her set up. On the back end, all of her QBO accounts seamlessly migrate over to IES. Her customer success manager can help get her set up with the rest of the platform: payroll, bill pay, and payments.
Now she's ready to go with the full platform. As you heard from Ashley, this isn't unique to Alejandra. 95% of IES customers are fully set up and running within 30 days. By comparison, as you heard, a legacy ERP would take six months, cost $50,000, and still only have a 50% chance of success. For customers that are new to our franchise, we're tailoring onboarding with a dedicated set of professional services designed to ensure seamless transition with minimal downtime. This is what growing with Intuit looks like: fast, simple onboarding, and a clear reason why we win. The team now has access to Intuit Enterprise Suite. It has the familiar look and feel of QuickBooks that Alejandra's team loves. It's a powerful, modern ERP with the enhanced functionality needed for efficient and scalable operations.
The CFO starts with a done-for-you implementation that creates a customized onboarding experience by vertical. One area is dimensions. The dimensions are the different ways to slice and view a business by portfolio, region, department, company, understanding performance at any level of detail. They review and approve with one click. Next, they see the multi-entity view of the entire business. This is the consolidated portfolio-wide view they have been looking for, gone are the hours spent manually reconciling and consolidating data in spreadsheets. The team can toggle seamlessly between this big-picture view and the individual entities themselves. They've also been looking to get a better view on how they're performing. Because their dimensions are set up during implementation, when they click on their profit and loss, they can break it down by company and region, giving them the granular categorizations to drill down and understand performance.
Because this is a full platform, multi-entity and dimensions flow across everything: payroll, bill pay, payments, giving Alejandra and her team the complete view of their business all the way down to the transaction level. Construction businesses like Alejandra have industry-specific workflows. Think things like milestone-based billing or project-level job costing. Without these vertical capabilities, businesses like hers have to cobble together many discrete apps and manually combine data and spreadsheets. Fortunately, IES provides these vertical capabilities right out of the box for project-based businesses like construction, financial, and professional services. Let's see how a project manager on our team leverages IES along with the project management agent to automate their workflow and more accurately track project profitability. The project manager logs into IES to look at the project overview page.
They can easily see all of their projects at a glance, making it simple to manage progress and easily spot things that require attention. A mid-market company like Horizon Construction gets hundreds of bills per week. Here, the project management agent has already identified the 20 transactions specific to the Haight project. When they click in, the project management agent streamlines the project cost allocation and reduces errors by leveraging the data that's on our platform. With just a click, the product manager approves them all in under one minute. When they navigate back to the project overview, actual income versus cost updates instantly, giving a live view of profitability per project. Because IES is multi-user with roles-based access built in, bills are automatically routed to the CFO for approval and eventually for payment.
The result is 30+ hours a week saved reviewing, approving, paying, reconciling transactions one by one across entities. For most mid-market businesses, forecasting is a real challenge, and that's because their data is scattered between apps and entities. Finance teams spend months stitching this together, 70% saying that planning takes too long. Others are paying thousands of dollars for separate reporting tools, yet they still lack the real-time insights in the systems they use. With Intuit Enterprise Suite, the finance agent will automate real-time performance reporting and make scenario planning simple. Let's take a look. It's year-end, and the CFO logs into IES and asks to summarize year-end financials. The finance agent, powered by our financial expertise as well as agentic technology, analyzes data across entities to deliver a clear financial summary of income and expenses. The agent also highlights key insights and reinvestment opportunities.
The CFO wants to see options for reinvesting the additional cash that's been called out here. The finance agent analyzes the impact on sales of purchasing new equipment versus spending.
Charles was listening to it. My intuition would be the equivalent of 30,000 years at those scales, which my intuitions may be useless of what you can accomplish. It helps to find out what's in the black box and what's responding. I think all of us so far until we pro.
Finally, at the CFO's request, it can update the scenario to focus only on one region, the West region. It then generates a strategic summary, includes the option chosen by the CFO, and supporting rationale that the CFO can easily download and share. Let's recap. Intuit Enterprise Suite lets customers run their business on one platform. IES is a modern AI-powered ERP. We win because of a best-in-class experience, a disruptive price for value, and a lower total cost of ownership for our customers. This positions us to unlock the mid-market, our biggest opportunity yet. With IES, we're not just serving mid-market businesses. We're redefining it with a modern ERP designed for growth. Now, you've seen the innovation we're bringing across our business platform today, but we haven't even touched on what's next, our Intuit Accountant Suite.
This will transform the way that accountants run their firm and recommend Intuit, driving an important network effect. Sasan briefly touched on this earlier, but please stay tuned in the months ahead. Thank you. With that, I'll bring Kim back up on stage.
Thank you, David. Love the demos. Thank you. OK, we're about to head into our first break. Before we do, I just wanted to mention we have many of our business customers here with us today represented or actually here, including the coffee station, our snacks. We have a dessert station at lunch, and we also have our parting gifts. I wanted to make sure you didn't miss those. Make sure to say hello. I just wanted to give you a really quick roadmap where we're going to head when we come back from our break. We'll have Mark come up and talk about our consumer platform growth strategy. Then we'll have Sandeep come up and talk about some financial reflections and how we're delivering on our financial commitments. Enjoy your break and be back in your seats in about 15 minutes, please. Thank you.
Please take your seats. We will resume in two minutes. Please take your seats. We are about to resume.
OK. We're ready to get started. Thanks, everyone, for taking your seats. Before we do, I have one quick announcement. Following our presentations today, we are going to email you a short survey. We would really appreciate it if you could take just two minutes to fill it out. I promise it's short. We would love to hear your feedback and how we can make this day more valuable to you. In exchange, we'll provide you a little incentive, which is a voucher you can use to file your taxes with TurboTax. We're ready to get started now. Please join me in welcoming Mark.
All right. I expect to see a big surge in our TurboTax filings this year. Thank you, Kim. It's really great to be here with everyone today. I'm extremely excited.
to share our performance this year, our insights, and how that's informing our strategic plans to become a much more integral part of our customers' financial lives. In this session, I will share with you how we will bring done-for-you experiences across our entire consumer platform. Arundhati will come up here and show how those experiences will come to life in our products for one of our critical customer cohorts. As we unpack our performance and we share our strategic plans, we have three critical takeaways we'd like you to leave with. One, we are making traction across a massive opportunity. While we had 15% growth this year, which we're super proud of, there's much more growth ahead of us. Two, we have momentum in solving more of our customers' critical problems across our platform.
Powered by data, artificial, and human intelligence, we are uniquely positioned to start to serve our customers across tax, money, and personal finance. Finally, our platform is a powerful ecosystem of offerings that actually our customers can rely on to drive their prosperity every single day. We're just getting started in bringing together our reach, our capabilities, and our data to drive engagement, adoption, and monetization, both in the near term and for the long term as well. Let's take a look back on our last fiscal year. We're incredibly excited that the consumer platform is approaching $8 billion of revenue. That was built off of the back of an incredible fiscal year 2025, 15% growth. That was driven by returning TurboTax to double-digit growth year- over- year and an impressive 32% growth in Credit Karma.
What's really exciting for us is that performance was powered by our critical growth vectors. Sasan talked about TurboTax Live. We hit breakthrough adoption this year, and that generated 47% revenue growth year- over- year. This cements our conviction that we can grow our assisted tax business by offering a superior experience, fastest access to money, and we can do it at the best price in the market. With Credit Karma, we saw a 43% increase in our Light box conversion, highlighting the importance of our data and our personalized offers that deliver both value to our customers and our partners. Our focus on this frictionless platform experience that we talked about last year, coupled with innovative money products, we added new growth vectors for this past year. We saw a 30% increase in Credit Karma members filing in TurboTax and 240% growth in our money products across our platform.
Now let's dive deeper into tax. We are positioned more than ever to transform the tax market with our data, AI, and HI capabilities. While we had an incredible year in TurboTax, and we're super proud of that, we have much more headroom to grow in the 86 million returns that are filed through the assisted tax segment. In fact, there are over 11 million customers that switch tax filers each and every year. Because we invested in local, we now have 80% coverage of local searches, which means we can serve those customers when and where they are looking for that help. Most importantly for us, our distributed expert network that's powered by AI enables us to efficiently scale our services across the country. Now turning to Credit Karma, we are incredibly proud of the 18% compounded annual growth rate we've seen since fiscal year 2021.
In fact, we've doubled our revenue in just four short years. This is powered by the depth of our personalization and our offerings within our Light box platform and our strategic focus on expanding our growth verticals like insurance, which grew 106% this past year. To be clear, AI is the power behind our platform. It delivers durable growth as we deliver 60 billion daily predictions to arrive at a financial solution that's unique to our members on our platform. More than ever, our consumer platform is able to deliver prosperity. We're going to bring the experiences to our customers that they need to make easier, faster, and better financial decisions every single day. In the next few minutes, I'll walk you through how we will use these offerings and how we're uniquely positioned to deliver those offerings to our customers and deliver on our mission.
As always, we always start with focusing on our customers. Our consumer problems range from making ends meet when every dollar matters, getting every dollar they deserve and have earned in their tax refund, getting faster access to money when they need it to pay debt, to maybe save for a rainy day, or to start investing in their future. For the more than 75% of U.S. households with less than $100,000 in annual income, these decisions are daily, and they're daunting. Managing personal finances is not easy. People's data is fragmented across multiple apps, making it time-consuming and difficult to make these decisions. In fact, consumers spend on average seven hours a week managing these personal finances. 64% don't feel confident in the decisions that they're making.
That's because until now, they have not had one platform that they can turn to that works for them, that works in their best interest, and that does the work so they don't have to. It's a massive landscape. It's a $142 billion TAM across the consumer finance ecosystem. We have the opportunity now to actually meet those consumer needs at tax, money, and personal finance. We've already seen incredible growth this year across each one of those categories. We're poised to accelerate even further as we focus on our continued disruption of the assisted tax market as we maintain our revenue share in DIY, and we expand value and adoption in personal finance and money for our year-round engagement. With our AI and HI-enabled experiences on our platform, we will give consumers insights to confidently make the right decisions year-round.
Our platform provides the tools that will enable those financial decisions on a year-round basis. For instance, in tax, we will deliver the best experience for our customers by driving maximum outcomes and value for all of our customers. For our money offerings, we are able to deliver fast access to refund. For many Americans, this is the largest paycheck of the year. Not only will we deliver that, we will actually help them save and manage it more effectively. In personal finance, we will help our customers manage debt, do more with their money, and help them manage their credit cards, loans, and insurance products that are best suited for them. All of this is enabled by our AI agents, such as our document assistant, which will take unstructured data and translate that for customers in TurboTax, and our debt assistant for debt management within Credit Karma.
Our consumer platform is built on those strategic advantages that we've talked about quite a bit today: data, artificial, and human intelligence. Combining that is where we actually get tons of value for our customers. We have scale with two of the most trusted brands in consumer finance in TurboTax and Credit Karma. They each have massive customer bases. You combine that with the value we can unlock with the 70,000 data points we have per customer. Our platform allows us to serve and solve more problems for our customers, from tax and credit to money management and savings. Looking ahead, our strategy is built on three core pillars: tax, money, and personal finance. Our platform experiences will work seamlessly so that we can get the fastest access to money for our customers and do more with it.
What this means is we will be doing the work for our customers. We will be connecting them to the AI-powered experts when they are needed and delivering unparalleled customer benefits across this process. Let me dive into the details on each one of these. Last year, unlocking our local presence drove significant growth in our traffic and in our engagements with our tax experts. This year, we will continue to prioritize local to capture this significant runway we have ahead of us in the assisted tax segment. We are going to be broadening our local presence, and we will be shifting our experiences to a service-first experience this next year. For business tax, we will build on the momentum that we had this year in our 3x growth that we saw for our business tax product. We will be leveraging our local presence that I just talked about.
Specifically for businesses, we will be bringing industry expertise into our product and into our experts so we can focus on acquiring and scaling that business again this year. We'll continue also to manage and maintain our revenue in DIY share by delivering agentic experiences and personalizing across key customer cohorts. Last year, our customers told us they want, but more importantly, they need faster access to their money. They want personalized insights as well that we can generate based on their cash flow through their connected accounts in Credit Karma. This year, we are focused on helping our customers access more money quickly. We will expand our fast money options. That's all backed by the power of our tax and financial data underwriting.
We will help them do more with their money by delivering solutions that help customers save, save more, and access money when they're needed, driving daily engagement. As we're driving that daily engagement, we will drive tax intent. With those connected accounts, we will bring more personalized guidance and experiences across our entire platform. Building on our strength in AI and data and our year-round tax insights, our personal finance strategy this year will transform our experiences to a personalized financial guidance that leverages agentic experiences to improve credit scores, consolidate debt, build wealth, and maximize their tax refund. We will expand in prime and insurance by helping our prime customers make decisions across credit cards, wealth, and insurance.
These year-round tax insights that we will drive and the engagement that comes with that will lead to a far easier and seamless experience come tax time. What is very exciting for us is that we actually demonstrated the power of the consumer platform this past year. In tax, our local strategy drove a billion-plus impressions and gave us a massive opportunity to serve the assisted customers. Our money offers make it much easier for our customers to manage and save money. Our year-round engagement drives those personalized recommendations in personal finance, which grows Credit Karma and TurboTax businesses. Combined, this gives us really great confidence in our vision and strategy. I can promise you the team that is designing these experiences is incredibly excited to deliver more value to our customers to help customers make better financial decisions. I will finish where I started.
We had an incredible year last year with 15% growth across the consumer platform. More importantly, this sets us up for a massive $142 billion opportunity that is ahead of us in tax, money, and personal finance. We are poised to capture this opportunity through the power of our consumer platform, delivering the experiences that our customers need to make easier, faster, and better financial decisions. Now let me turn it over to Arundhati. Arundhati is going to walk you through how this strategy comes to life for our customers.
Thanks, Mark. Like Mark mentioned, our members struggle with making the right decisions for their unique financial needs. Today, we'll walk you through our end-to-end consumer platform experience through the lens of Desiree, who represents a large and growing customer segment where we have significant momentum. Desiree owns a growing wedding photography business while also working part-time as a garden center manager. With her family CPA recently retired, she is one of the over 11 million customers who we estimate switched assisted tax prep methods in tax year 2024. Beyond taxes, Desiree is navigating financial challenges faced by many of the 60% of small business customers who are sole proprietors, like high-interest debt and the need for flexible cash flow to manage expenses. 80% of our new assisted tax customers last year were similar to Desiree in prioritizing convenience, value, and a fast refund.
This year, we are doubling down on three key value propositions that helped us fuel 47% assisted tax revenue growth in TY 2024: one, local expertise; two, AI-powered automation; and three, fast access to money. Let me show you. Desiree opens her favorite AI app to search for nearby tax preparers. In FY 2026, we are laser-focused on optimizing AI search, building on our strength in SEO with our hybrid physical and digital strategy. Last year, customers made tens of millions of searches for local tax experts. Desiree taps to visit the TurboTax Phoenix storefront page, where she can call the store immediately or browse the profiles of multiple local experts. Assisted-seeking customers are 5x more likely to book with a pro within 50 miles and twice as likely to convert with a local match.
Customers can also schedule convenient online appointments, tapping into our 13,000 virtual experts nationwide this year, all without the friction of creating an account upfront. For those customers who are not immediately ready to connect with an expert, this year, we are launching our new AI concierge, which will answer common questions in a personalized conversational style, like what full service is and how much she'll pay. Price transparency is one of the things our customers care about most. Intrigued, Desiree answers a few questions about her tax situation. She confirms any additional income and gets a free price estimate, representing an incredible value with a guaranteed maximum price. Now, Desiree feels confident getting started with a tax expert. The AI concierge matches Desiree with her expert, Ben, whom she's happy to see is also in Phoenix, has 13 years of experience, and has expertise in small business income.
Ben reaches out to start a one-way video call. Desiree joins the call, where Ben will answer her initial questions. He helps her create a TurboTax account to securely share her data. Once her account is created, Desiree can share her screen so that Ben can easily guide her as they get started on her tax forms. Our AI document assistant will help Ben generate a checklist with all the documents that Desiree needs. Ben also walks her through connecting her bank account and bulk uploading other relevant tax documents, like her business expenses. Our AI agent will then categorize and extract information from all of these docs, one of the many ways it helps our experts become even more efficient. Today, we support categorization and extraction of 90% of the most popular forms that customers use in TurboTax.
In the future, our document assistant will do even more of the work of identifying, locating, and importing tax-related documents automatically for Desiree. Ben now has everything he needs and advises Desiree to download the TurboTax app so she can be notified when he's done. Desiree hangs up, and she's very happy to have some time back to edit wedding photographs. She downloads the app, which lets her follow along live on Ben's progress. Within an hour, she gets a notification that Ben has finished her taxes. They connect again, and Ben guides her through her total refund amount, including his personal summary of her tax outcome. He also highlights that she can get access to her federal refund amount instantly by opening a Credit Karma money account. Excited, Desiree continues to pay, sign, and create a Credit Karma account.
Ben files her return for her, and within 60 seconds of IRS acceptance, her refund hits her Credit Karma money account. Previously, Desiree would typically wait over three weeks to finish filing and get her refund. We can now complete the entire process and get her refund into a Credit Karma money account within an hour, all at a compelling, transparent price. Getting refunds into customers' hands quickly is an incredibly powerful driver for daily engagement on our consumer platform. For nearly half of Americans, their tax refund is the largest paycheck of the year. Credit Karma will help Desiree use that money to start building wealth. Let me show you how that journey is superpowered with our AI agents: refund assistant, debt assistant, and tax assistant. Desiree opens Credit Karma, and her tax refund is ready to use in her money account.
Our AI-powered refund assistant will use the data from financial connections she already linked through TurboTax to maximize the impact of her tax refund, whether that's putting money into a high-yield savings account or paying down a loan. In Desiree's case, her best course of action is to use her refund to pay off close to 40% of her high-interest credit card debt from business expenses. Credit Karma is also monitoring Desiree's entire financial picture, including her spending, bills, fees, savings, and investments, all through Intuit's integrated consumer platform. Throughout the year, we'll use this data to help Desiree proactively navigate her financial journey while building daily engagement. We continue to push the envelope on helping members build their credit with tools such as Credit Builder and our latest innovation, Credit Spark. These tools are particularly valuable to our growing Gen Z member base, who often have limited credit history.
Fast forward a month. Desiree receives a notification that her credit score has increased after paying down her credit card balance, and she can continue to build her credit by using Credit Spark. She learns that it will boost her credit score by adding her rent and utility bills to her credit history. All she has to do is to continue making payments on time. She enrolls in Credit Spark and reviews her payments, which have been pulled automatically into Credit Karma since she already linked her financial accounts to do her taxes. Now, Desiree can set it and forget it and watch her credit score increase while she pays her bills. Credit Karma leads the industry with free credit improvement tools that help members monitor and build their credit score with ease.
After another few months, Desiree's credit score has increased further since her credit utilization is down and Credit Spark has been active. Meanwhile, our new AI-powered debt assistant will be leveraging all of her connected accounts and data to proactively search for ways to help her save more on her remaining debt. She receives a notification that Credit Karma has identified an opportunity to help her save on that debt. She opens Credit Karma to find out more and sees an insight from the debt assistant. It suggests she gets started with a personalized plan to help her pay down her debt faster and with less interest. She taps in to learn more and shares her comfort level with her current payments. Because our platform has all the rest of her information, our debt assistant doesn't need anything else to surface the right solution for her.
Now, we can present a tailored debt consolidation plan that offers Desiree a personal loan at a great rate and simplifies her paydown. With this offer, she's saving over $900 in interest and can pay off her credit card debt sooner. This Credit Karma capability is driven by our proprietary Light box technology, which allows Desiree to see all her loan details without her data being shared or any impact to her credit score. The conversions attributed to Light box have grown 43% year- over- year for FY 2025. Desiree likes her recommended plan and accepts the offer. She applies and is approved in minutes. Last year, we also introduced year-round tax insights for Credit Karma members.
This year, we're introducing even more engaging interactive insights that not only keep members like Desiree engaged throughout the year, but will also capture the critical information they'll need when it's time to file taxes again. Let's take a look. Desiree sees a notification from Credit Karma about a change in her income. She taps in to confirm her new job, and this allows us to update her tax profile in real time throughout the year as we notice potential tax-related events and deductions, updating her profile as we go. Come next tax season, we can notify her that she's just one step away from her refund. Her filing is already over 80% complete. All of her information is in one place, and she can file her taxes again with Ben, her tax expert from last year.
Last year, Credit Karma drove a full point of TurboTax's growth, with a 30% increase in filers coming directly from Credit Karma. Still, only a small share of Credit Karma's nearly 150 million members file with TurboTax today, giving us significant upside. To wrap up for consumer, we finished FY 2025 strong, setting ourselves up for the massive opportunity ahead in tax, money, and personal finance. We are well-positioned to deliver another year of breakthrough growth by leveraging our proprietary data and strengthened AI and human expertise at scale.
I just walked through how we supercharged our customers' financial goals throughout the year, starting from filing taxes conveniently with a local expert, getting their refund right away and putting it to immediate use, building their credit, and using that to improve their debt situation, all while prepping next year's taxes as we go so they can be ready to file again immediately. We are excited for our future as we build one consumer platform to truly power prosperity for our customers. I would now like to hand it off to Sandeep to share more about Intuit's financial commitments.
Hey, everybody. Good to see you all. Thank you for spending a part of your day with us today. Thank you for your continued support of Intuit. We appreciate it. I trust the innovations you've been seeing this morning are bringing our strategy to life. I'm going to touch on three key themes that give us confidence in the durability of the growth ahead. It starts with a large addressable market in excess of $300 billion, where the current 6% penetration provides ample headroom for future growth, a robust AI-driven expert platform strategy that is working and delivering results.
Now we are honing in on the three Big Bets that are keys to unlocking the majority of the addressable market and a track record of being consistent and disciplined in how we run this company, focused on delivering customer benefit in the process, strong revenue growth, impressive margin expansion, and returning capital to shareholders. Our financial principles continue to be the foundation of how we manage this business day in, day out. Our top objective as a management team is to deliver organic double-digit revenue growth. I see ample opportunity for us to abide by this principle for years to come. We also want to make sure that revenue continues to grow faster than expenses, thereby delivering margin expansion as we scale this company. We hold a high bar for capital, how we utilize capital, whether it's R&D, go-to-market, looking at acquisitions.
We aim for a ROI that is in excess of our cost of capital. The cash that we cannot deploy at the right ROI, we return to shareholders and have had consistent dividend increases and a strong buyback program. Finally, we run this company with an ironclad investment-grade balance sheet. When we all met last year at this time, I shared with you the objectives for the year ahead based on these principles. I'm proud of what we accomplished in fiscal 2025: 16% overall revenue growth, more than two-point acceleration from the year before, operating income growing much faster than revenues, delivering impressive GAAP and non-GAAP margin expansion. We returned $4 billion to shareholders through both dividend increases and buybacks. These results are a testament to the fact that our strategy is working. It is that durability of that strategy that drives our optimism about the growth that lays ahead.
It starts with the fact that we play in large end markets, where our ecosystem of offerings address multiple customer needs. The strategies you heard today, the innovations you experienced today, are all keys to unlocking this opportunity. We made tremendous progress in the last 12 months. We were early to declare AI as key to future growth. In July, we launched agentic experiences across the business platform. These experiences are in use by millions of businesses that are seeing strong outcomes, as demonstrated by the fact that repeat usage is ahead of our own internal expectations. We leaned into our differentiation with AI and HI and are disrupting the assisted tax category, as demonstrated by the 47% revenue growth in TurboTax Live. We introduced I E S, unleashing the power of a business platform to address the needs of the more complex mid-market customer.
This strategy drove strong outcomes across both our business and our consumer platform. Business platform revenue is up 16%, surpassing $11 billion, with strong momentum in our online ecosystem, which grew 20% overall, 25% if you exclude Mailchimp. With our focus on being the all-in-one platform, addressing the end-to-end customer needs for small and mid-market businesses, we grew online accounting 22%, online services, excluding Mailchimp, 29%, and have driven mid-market revenue growth 40%. We are excited about the momentum we have in mid-market and expect mid-market to grow meaningfully higher than the top end of the 15% to 20% growth expectation that we have for our Global Business Solutions Group. On customers, we grew customers 5%, but our deliberate focus on the high-value customer grew U.S. QBO 8%, mid-market 23%. Highlighting the power of our all-in-one strategy, we grew by 12% customers adopting multiple parts of our platform.
There are areas we need to be better and are working quickly to lay the foundation to re-accelerate Mailchimp and international, such as our new product experience in Mailchimp and investing in the Mailchimp mid-market sales force. While we re-accelerate Mailchimp and international, the strategic focus on the high-value customer is driving strong ARPC growth. ARPC was up 14%, a three-point acceleration from the year before, through durable factors such as customers adopting more parts of our platform, particularly money and workflow solutions, by the momentum we have across IE S and Advanced in addressing the needs of the mid-market customer. As we continue to add capabilities to our product and earn the right to price our products for the value they deliver. Highlighting the power of platform adoption, services now account for half of online ecosystem revenue, up 12 points since fiscal 2020.
We have added Mailchimp to our portfolio since fiscal 2020, but we have also quadrupled our payments business and tripled our payroll business. With the momentum we have and the progress we're making, executing on an all-in-one strategy, I see ample room for us to continue to scale services at a strong rate for years to come. Shifting to our consumer platform, before I dive in, just a quick reminder that starting this fiscal year, we're combining TurboTax, Credit Karma, and Pro Tax into a single consumer platform, consistent with a vision of addressing the entire spectrum of consumer needs, from building credit to building wealth. With that, consumer had an exceptional fiscal 2025. TurboTax returned to double-digit growth. Credit Karma delivered 32% revenue growth, yielding 15% growth across the overall consumer segment.
With our years of investments in data, data services, AI, and AI-powered human expertise, we're disrupting the assisted tax category, as demonstrated by the 24% growth in customers in TurboTax Live and 47% growth in revenue. By building a seamless experience across Credit Karma and TurboTax, we increased by 30% Credit Karma members filing with TurboTax, put $14 billion of fast refunds in the pockets of our customers. When customers experience both Credit Karma and TurboTax offerings, we get a 38% lift in our ARPC. We have strong momentum driving monetization across TurboTax. Paying customers were up 6%.
ARPU was up an even stronger 12% as we increase the mix of paying customers, as we continue making progress disrupting the assisted tax category with TurboTax Live, as we scale new innovations such as business tax, which, by the way, has tripled in the last year alone, and as we add new innovations such as fast money offerings for our consumers. Our results are a reflection of the innovation we're putting into the market, such as using AI to guide customers to the offering that's right for them, creating a seamless experience across our platform between Credit Karma and TurboTax, and highlighting the value of having human expertise alongside the customer.
With that, TurboTax Live now accounts for 41% of overall TurboTax revenue and expects TurboTax Live to be the majority of TurboTax revenue over time as we continue making progress disrupting the assisted tax category while we maintain our dollar share in do-it-yourself taxes. The innovation we're driving across our consumer platform is driving strong outcomes in Credit Karma. Credit Karma revenue has surpassed $2 billion. Credit Karma growth has been 18% compounding annual growth rate since fiscal 2021, the year we acquired the business. This growth is all a result of our relentless focus on what matters most to our customers and to our partners. That focus shows up not just in these numbers, but the share of wallet that we gained: 5 points across credit card originations, 4 points across personal loan originations.
With nearly 150 million members on Credit Karma, we're excited about the opportunity ahead to drive year-round monetization and year-round engagement as we address the entire spectrum of consumer needs, from building credit to building wealth. When you step back and look at our business holistically, what stands out is a massive opportunity we have to drive monetization. We have scaled ARPC across each one of our business segments over the years, while continuing to make sure that the majority of interest revenue growth came from volume increase and mix improvements, including customers adopting multiple parts of our platform. With that, I expect ARPC to continue to grow across each business segment for years to come. In our business segment, as we drive platform adoption, as we continue scaling mid-market, and as we continue adding product capabilities, earning us the right to price for value.
In our consumer platform, as we continue making progress disrupting the assisted tax category, as we scale our new innovations such as business tax and money offerings for consumers, and as we drive deeper penetration and adoption across the Credit Karma platform. Across each one of these business segments, we're also excited about the tremendous opportunity that lays ahead for AI to augment monetization. We have delivered transformative done-for-you experiences across AI and human intelligence. As an example, a payments agent in our business platform is helping customers get paid up to five days faster, highlighting the value of adopting electronic payments. By embedding AI across the entirety of our TurboTax experience, we're helping customers get their taxes done 12% faster with even greater confidence. Through highlighting the value of human expertise alongside the customer, we've doubled our QuickBooks Live business. We've grown by 24% our TurboTax Live customers.
TurboTax Live itself is a $2 billion business today, run entirely by AI and HI working seamlessly together. We're using AI to increase the efficiency of our experts, driving meaningful and direct impact on our unit economics. It is proof points like these that give us the confidence of the meaningful opportunity that lays ahead for AI to drive increased platform adoption, increased platform usage, and thereby increased monetization. Now, let me also touch on how we invest in our business and service to accelerating growth. With the principle of ensuring that revenues continue to grow faster than expenses, we expect each line item on this page to be flat to down as a percentage of revenue over time. I'll also touch on stock-based compensation, an area we made tremendous progress in the last two years.
I expect stock-based compensation to be down at least another point in the next three years, highlighting our focus and discipline in managing our business and paying attention to each and every line item. Our discipline in how we invest in the company has not changed. As a management team, we allocate capital to areas we believe will be the greatest catalysts for future growth acceleration. With that, we are reallocating an ever-increasing part of our investments towards the three Big Bets: investing in creating breakthrough done-for-you experiences across AI and HI, investing in money innovations that provide seamless experiences for consumers and businesses, and investing in product and go-to-market capabilities to penetrate the $90 billion opportunity we have in mid-market.
While we continue to invest an ever-greater part of our investment portfolio in the three Big Bets, we're staying disciplined in how we allocate investments towards core innovation and run the business activities. It is this discipline that, over the years, has allowed us to deliver breakthrough innovation, deliver the strong outcomes I shared earlier, while also continuing to drive impressive margin expansion. GAAP margins are up six points the last three years, non-GAAP margins up five points. The discipline that drove this margin expansion continues, thereby driving our confidence in the opportunity to deliver strong revenue growth and margin expansion for years to come. A key part of where we get the confidence driving margin expansion is how we are leveraging AI across the company. We are using AI to rethink how Intuit works, thereby unleashing the productivity of our employee base.
To give you a few examples, in our technology organization, 80% of our developers are using at least one AI tool, allowing them to code 40% faster. This allows us to bring more innovation at an ever-greater pace to market. In our customer success organization, AI is at the core of everything we do, to how we train our agents, how we schedule our agents, to how we route calls. That is leading to over $135 million of cost savings just this fiscal year, fiscal 2026. In our marketing organization, 90% of our marketers are using an AI-based tool, allowing them to target better and drive more optimal outcomes from the marketing campaigns.
We are just getting started. It is productivity unlocks like these that allowed us to deliver the strong revenue growth you saw last year, 16%, with flat headcount. It is what drives our confidence to continue to grow and deliver strong outcomes in fiscal 2026, with headcount up low single digit. As we practice discipline and continue focusing on allocating our resources and driving margin expansion, we are also being disciplined in what we do with the cash flow. This past year, we returned 65% of our free cash flow to shareholders through a 15% dividend increase in fiscal 2025. The board approved another 15% dividend increase for fiscal 2026 in a strong buyback program, $3 billion this past year. We remain committed to returning capital to shareholders through both dividend increases and share buybacks. We expect our buybacks to, at a minimum, offset stock-based compensation over a three-year period.
Our approach to running the business remains consistent. With the momentum we have across the company, we are focused on building upon the strength of our platform. With that, we are guiding the overall company to 12% to 13% revenue growth in fiscal 2026, surpassing $21 billion of revenue at the top end. Our largest business segment, the Global Business Solutions Group, we're guiding to 14% to 15% revenue growth, with the exciting momentum we have in our online ecosystem continuing in fiscal 2026, while our desktop ecosystem slows to low single-digit growth now that we are done with our migration from a license-based to a subscription-based model. Each aspect of this guidance is consistent with that which I shared in the August earnings call. Our discipline on the bottom line continues as well. Operating income is growing much faster than revenue, delivering strong GAAP and non-GAAP margin expansion.
As I shared earlier, a 15% increase in dividends. This guidance is also consistent with that which I shared at the August earnings call. With the momentum we have in the business, with the durability of a strategy that is delivering results, and with now honing in on the three Big Bets that are keys to unlocking the majority of our addressable market, we are reaffirming our long-term expectations for each one of our business groups. On our business platform, we expect revenue growth of 15% to 20%, with customers growing 5% to 10% over time, and ARPC growing 10% to 20% as we continue to drive platform adoption, continue to grow at mid-market, and continue to add product capabilities, thereby earning the right to price for value.
In TurboTax, we expect revenue growth of 6% to 10% overall, with the strong momentum in disrupting the assisted tax category continuing, with TurboTax Live growing 15% to 20% over time. In Credit Karma, we expect revenue growth of 10% to 15% as we continue to penetrate our core verticals, add new growth verticals, and make progress with the underpenetrated prime segment. The key takeaways I want you to have from our conversation this morning are threefold. Intuit has a massive market opportunity, providing an ample opportunity for years of strong revenue growth. Our strategy is working, and it's durable. We're doubling down the three Big Bets that are keys to unlocking the majority of our addressable market. The management team remains disciplined, focused on what matters most to its customers, thereby delivering revenue growth, margin expansion, and returning capital to shareholders.
I know we've shared a lot this morning across our strategies, our product experiences, and data points on the business. At the end of the day, it comes down to delivering benefits that matter to our customers and have positive, transformative impact in their lives. With that, to sum up the entire morning, let's revisit the video we saw this morning to see how our work impacts the lives of the 100 million customers that we serve. Will you please play the video?
We covered a lot of ground this morning. Take just a minute and reflect on what you heard, and then we're going to come up and take your questions. Right now, we'll take a five-minute break, a real quick break, and then you can come back, and we'll get started with Q&A. Thank you.
Please take your seats. We will resume in two minutes. Please take your seats. We are about to resume. Please take your seats. We are about to resume.
All right. Welcome back for questions. We've got plenty of time for questions. If you could raise your hand high. Look at that. We have mic runners. We'll get the mic runners to you all. By the way, the whole team is here. Sandeep and I will tag team and probably just ask our team to jump in as well. Let's get started. Keith, I'll turn it over to you first.
Excellent. Thank you guys for taking the question, and thank you for a great analyst day. A lot of data points, and I know a lot of work goes into it. Maybe a question for Sandeep that I know Sasan is going to jump into. Sasan
He always has valuable things to add.
Always has something to say.
Sasan--
That was feedback. Please continue.
He gave us a big number out there, saying, given a view that this company at this scale could return to 20% growth. I can't believe he got Kim to sign off on that. That's probably the most impressive part of the analyst day. You gave us a four-year outlook of 12% to 13% growth after we just did a year of over 15% growth, a year of acceleration. Help us kind of rectify the two. Are there items that we should be thinking about in the coming year that are like foundational investments to faster growth on a go-forward basis? Is it just conservatism? How should we rectify those two data points?
Yeah, absolutely. Great question. The overarching thing you should keep in mind is that when it comes to guidance, we want to make sure that it is something that continues to preserve the credibility we spent years building. It is a very high-confidence guidance. What we are excited about is the momentum we have in the business. In the Global Business Solutions Group, we've talked about Mailchimp. I'm going to put that on the side. Marianna already touched on all the momentum we're building there towards a 10% exit. The opportunity set and the momentum on the online ecosystem continues. On the desktop, there is a slowdown to low single-digit growth. We've been sharing that over the last three years while we're driving the migration. That's what you got to keep in mind. The momentum is continuing.
On the TurboTax side, we're excited about the progress you made disrupting the assisted tax category. There are many things worked. As I've shared with you, everything that worked, we have so much opportunity to be better. We did early marketing, and we learned so much. Now we're going to hone in on areas that worked better and discard the areas that weren't as fruitful. We unlocked the local opportunity, where we see people convert 5x faster when we show up local. As you know, we are within a 10 mi radius of 80% of the U.S. population. We really didn't unlock local until late in season because all this stuff about Google verified and showing up in organic search. That happened late in season last year. This year, we're going to have the whole seasonal benefit. Lastly, Credit Karma. Last year, we built a seamless experience.
To me, that's table stakes. What we want to share, what Mark and Arundhati talked about, was a bespoke experience. Hey, come here. We got your data. Let's get your taxes done in 20 minutes. That's what we continue to build upon the momentum. Similarly, on Credit Karma, that business has exposure to the macro. A lot of that result, the majority of those results, were our execution and focusing on what matters most to our customers. Your key takeaway should be the guidance is high confidence, similar to the principles we had for the last several years. The momentum in the business and all the key levers for future growth remain strong and is driving our optimism. There are a couple of areas where we want to make sure that we're giving them the room to scale up in a healthy way: Mailchimp, international.
The last one, desktop, we've been transparent. It's just going to, it's done with the migration, so it's low single digits. It's a long answer to your question, but hopefully that unpacked the entire thinking that the management team took into the guidance that we provided you.
Yeah, super helpful. Thank you.
Yeah.
Alex. That's it.
Oh.
Hey, guys. Thanks for taking the question. An amazing spread today for breakfast. Congrats to all your vendors.
It's our amazing businesses.
You guys came across very inspired today. I think a lot of us have watched a couple of analyst days in the last week, and our heads have been on a swivel. Inspiring in terms of the way that you're bringing all of this technology together to make it tangible rather than, I would say, fragmented and confusing. The guide for 20%, if you think about the pieces that get you there, it feels like the most aggressive part of that is that GBSG growth that's going to have to be probably well north of 20%, given the other parts of the business that are growing below that, likely for a while.
When you think about the consumption element, the AI monetization element that you're bringing into the core, how do you stack rank, and how do you think about the linearity of that growth in that business as we get to that 2030 number?
Can I answer that? We'll tag team up here. First of all, I actually appreciate you calling out our energy. We are inspired because all the pieces and parts have come together from just all the hard work of the team that was up here presenting and the many that are at work right now.
We feel inspired because we're seeing the proof points and we see now what's possible. I would say there are really three things that would have to line up for us to accelerate growth from 16% to 20%, and all three things go hand in hand. The first one is with all the pieces coming together with AI plus HI across the platform and really stitching our platform experience together. That's a consumption driver. You heard David Hahn stand and talk up here about, although our money is $1.4 billion, growing 37%, the majority of our customers don't have any idea that we can help them with AR and AP. The same thing applies to payroll. That's a real illustrative example of now truly being a platform for consumers and businesses with both AI and HI.
We believe that's a huge opportunity for consumption—consumption of money, consumption of payroll, consumption of HI, which is our human experts. Human experts is a big deal because any of our businesses that use one of our AI-powered experts, the attach rate is up 22 points. That's one we believe is a significant growth driver that, frankly, is more coming versus in our numbers. The second is assisted tax market. We finally got to breakthrough adoption. $2 billion business growing 47%. It's all AI and HI. We've got a couple of percent penetration. It's a disaggregated market, lots of mom-and-pop shops, all manual, and we've got incredible scale. Maintaining 40%+ growth there is how you get to 20%. The third is mid-market.
You heard both Ashley and Marianna talk about this, but with the focus that we have on mid-market now, one year into Intuit Enterprise Suite, we're in the early days of even our commercial motions. You sustain that for 40%. Those three things get the company to 20%+ growth. That's our internal aspirations. By the way, everything we work towards is how do we deliver these undisputed benefits that can sustain that kind of growth. The thing I would just remind us of, it's one of why I showed one of the slides that I did. In 2014, when we grew 8% and we were a $5 billion company, we didn't guide we were going to grow 16%. Today we are 4x the size at $20 billion, and we're growing at double the growth rate of 16%.
We have a very clear path to what's possible as we look ahead. All right, Siti?
Siti Panigrahi from Mizuho. Another great Investor Day . Thanks to Kim and her team. I want to drill into this last point you said, mid-market. IE S has now been a year. Could you drill into what have you learned? You know, this is kind of a new outbound sales. Now you have a new General Manager. What have you learned and what's your plan for this year and what's baked into your guidance when you think about IE S?
If I could start it, I'd love to hand it over to you and Ashley. Would love to tag team with Ashley as well. I think a couple of things I would say. One, it's really important to once again recognize that we just launched Intuit Enterprise Suite a year ago. With where we are with our innovation and with the fact that most of what we are launching is AI- native and becoming a system of intelligence, we're going to be able to really go across many verticals and verticalize Intuit Enterprise Suite so that if you're a construction company, if you're a real estate company, if you're a wealth management, if you manage RV parks, our system of intelligence can frame the KPIs the way you want it, the reporting the way you want it, the insights the way you want it.
We're just at the beginning of what's possible with our platform to serve many verticals within our base, which is where the majority of the TAM is, and then building capabilities to go outside of our base. That's one huge element, which is around what's possible with the platform. When you first launch something, you're in the nascent stage. We're a year in, and we feel like we've been at it now for five years, and a lot is possible now in the year ahead. The second is commercial. In a moment I'd love for you to hear from Ashley, which is although we've been at this building the commercial motion for a year plus with Intuit Enterprise Suite, when someone comes in that's built an enterprise and mid-market business, they look at that and go, wow, we need to build a commercial motion.
That's a huge growth driver as we look ahead. Let me pause on that because I want Ashley to jump in, but would you add anything before I turn it over to Ashley?
Yeah, a couple of things, Siti. One is we think about mid-market as a holistic portfolio that's bigger than just IES. It's advanced in IES. As I shared, it grew 40% last year. As I highlighted, we expect it to be growing meaningfully faster than the top end of the 15% to 20%. I would take that in terms of your thinking. The second thing I would point out is doubling down on what Sasan shared. It's been in the market 12 months. I'll take you to our business stacks, right? The first year you put something out in the market, you learn from feedback. We've never had a sales force. We had to hone in that sales motion. Does one person go out and sell the whole portfolio, or does one person go and sell ERP and we bring in experts on payments and payroll, right?
These are all things we learned and evolved on. We just had a massive release in July, another one coming the next quarter. That helps unlock the accountants. You're not fishing with hooks, you're fishing with nets, right? The business tax is a great analogy, tripled in the second year because we took the learnings from the first year, built into the second year. It'll scale even faster the third year. That is a good reference point for you to think about how this management team leads. We get into the market, we learn, we iterate, and we accelerate. With that, I'll turn it to you.
Great. Just to add, through my onboarding, I have spent time with probably 100 customers and accountants since I joined. One of the things that has really struck me is not just the permission for us to be the leader in this market, but the customers are asking us to be leaders in this market. You have to remember these are $25 million, $50 million, $100 million businesses. They are trying to scale their employees, they're trying to scale their customers, they're trying to grow their business, and they want help. They don't today feel like they have a strategic partner. They want Intuit to be that strategic partner. It was really striking to me.
There are very few times in my career where I've met with so many customers that just thank us for focusing in this area and making the investments in the platform to make their lives easier. They're raising kids, they want to make sure that their employees are prospered, not just them, all of that. Next, what have we learned? The product has incredible value, and as I emphasized earlier this morning, people, our customers, can actually realize that value quickly and easily. This is completely game-changing and different from the products that have been in the market today until now. Importantly, as Sasan mentioned, there is a lot of progress, but a lot of opportunity left in our go-to-market.
This is everything from just the fundamentals of sales productivity, making sure that salespeople every single day, five days a week, are being as productive as possible as they can, identifying the highest opportunities in our install base and having great conversations with our customers. We're making phenomenal progress, and there's still a lot of progress left to go. The second is leverage in the model, right? This is something that I could not be more excited about, is leverage, whether it be from marketing and then also from the accounting partnerships that enable us to really build both this higher touch, but incredibly efficient go-to-market motion for mid-market. Lots of opportunity, really incredible solid foundation. Again, one of the things that I could not be more excited about is the permission, enthusiasm, and desire from all of our customers for us to solve this problem for them.
Great, thank you.
Yes, sorry, I can't see. Light is there.
Hey, Sasan, Brent Thill with Jefferies. On international, your near-term and long-term aspirations, just like to hear how you think about this. To get to 20%, would this be the fourth or fifth thing in that order when you gave us the three, or where do you rank this to get to that aspiration?
Yeah, I'll double team this with Sandeep. First of all, international, everything we talked about today is a global strategy, first and foremost. In fact, what you saw up there with our platform in the coming months, it's being launched outside of the U.S. First and foremost, every one of our bets are global bets. We didn't talk about international because one of the lessons that we've learned is we want to deliver the proof points and then talk to you about it versus talk to you about what we're doing and the proof points lag. The thing that I have a lot of confidence in is we are truly thinking about our platform global first versus U.S. first. We have the right talent in place that has built international businesses, and we have the proper focus by our product teams and by our commercial teams.
I have a lot of confidence in what's coming. A lot of it also is driven by the innovation that's coming with Mailchimp because 50% of Mailchimp's revenue is also international. I'd love for us to come back and share with you how much of the growth it's driving versus talking about it, which is why it wasn't part of the three that gets us to potentially 20% one day.
The only thing I would add is I think international is key to driving the 5% to 10% customer growth and unlocking the TAM. When you look at our business, the opportunity we have to drive monetization, we have massive runway left in the U.S. to deliver accelerated growth. Platform adoption, we talked about 22 points higher adoption with QB Live. That could prove out a hypothesis as a discoverability issue, right? People are spending billions with third parties on offerings that we could solve for them. They're like, oh, I didn't even know you could do that for me, right? I see plenty of opportunity. I think of international as a future accelerant. The durability of growth, we got plenty of runway in the U.S. I don't need to bank on international for that.
Stefan?
We got two up here. I'll come back in the back after this.
Great. Stefan Slowinski from BNP Paribas, thanks as well for the presentations today. Sasan, I think you may have mentioned earlier about potential for other new monetization models. If you did or you didn't, if you could mention whether or not you do see that as possible. You have a lot of models already, but with AI, is there any more that you can do in terms of new formats of monetizing that? Kind of associated with that, just wondering if you could update us on any discussions with the U.S. government around potential public-private partnerships and whether there's new potential revenue streams for Intuit coming out of that.
Sure.
Thank you.
Do you want to take the monetization? I'll take the U.S. government.
Sure, absolutely. The keys to monetizing with the customers is think about their workflows, right? They're coming in and getting their job done. These are customers who are used to their workflows, and we need to break the inertia. Our first step in monetization was putting agents into the experiences. One of our strongest agents is an accounting agent. Someone sits down to do the work. They would have spent 50 minutes doing their books. Now an agent helps them get that done in 10 minutes. They're like, wow, there's massive benefit there. That breaks the inertia to go back to the lineup to say, what else is out there that I could look? That could drive upgrades, right? A payment agent helping drive faster payments. Let me accept electronic payment. When we say, hey, you have five invoices late, would you like to send a reminder?
They're like, of course. We tell them, hey, customers like you, when they accept electronic payments, get paid five days faster. At that point, I'm not making a sale. I'm delivering a benefit. It drives better adoption. Upgrades, platform adoption, that's the key to monetization. There are opportunities we continue to experiment with, which is a customer may not want to upgrade. Like, you know what? I'm happy with my SKU. Can we just buy agent X or agent Y? Alex and team are building more agentic experiences. It's still early. It's a wide aperture. Just know that we are focused on delivering the benefit, unlocking our customers' productivity, which earns us multiple ways to monetize their productivity.
Your question about U.S. government, what specifically is your question? You asked about monetization.
Any new public-private partnerships that have been discussed more on the tax side, and whether those are new potential revenue opportunities for Intuit coming out of that?
Got it. Thank you for the question. A couple of things I would say. We've been working very closely with the Treasury and the IRS. A couple of things that I would say they're focused on. First and foremost, their view is building tax software is a waste of money and not the right investment. They're doing a study to confirm that is ultimately not the best use of funds. They've already actually removed any of the employees that were working on what was a direct file. That's one takeaway that you should have, which is the U.S. government believes that there are plenty of companies commercially that build software. We don't need to be building software that's already free, provided by commercial entities.
The second and most important thing is we're collectively working with the government and private entities in terms of how do we continue to commercialize and amplify what's available for consumers. Today, it's actually quite confusing. If you look at the Free File program, there's a lot of different commercial offers. They're all different principles, different standards, very confusing for consumers. We're working together in terms of how do you standardize that. If you just look at us as an example, in the last several years, 100 million customers have done their taxes for free. How do you amplify that even more so? That's the discussion and partnership that is in place. I think you should expect some sort of an announcement in the October timeframe. I think the takeaway should be government is eliminating waste. They don't want to build software.
They want private industry to work together to amplify the free that they already have.
Sasan, Mark Murphy with JPMorgan. You know, several of the large enterprise SaaS companies have started to disclose an AI contribution. They usually won't do that until it crosses above $100 million. You look at it and you say, it's a quarter of a percent of your revenue or maybe half a percent of your revenue. There's been a bit of a mixed response to that. You've been very, I think, careful not to embed AI contributions into the forecast, Sandeep. When you look at what the enterprise, what these other companies are disclosing, do you look at it and say, hey, it's impressive that that's something crossing that $100 million, it's something we aspire to.
Are you in the camp that it's going to monetize faster in the SMB arena because, first of all, they don't have an IT department, they don't have to do any of the data integration, so they don't have the hurdles? Then you've got all the data kind of contained in one system, so it's more of a sort of a click and go.
Yeah, you know, I love your question. The reason we don't separate out AI-driven revenue is the whole company, the whole platform is built on data and AI. When you look at TurboTax Live, it's $2 billion in revenue growing 47%. That is all data, AI, and HI. When you look at all the innovation that you saw that we talked about today, it's all fueled by data and AI. I think for us to try to break out what's AI-driven is a meaningless exercise because the whole company is fueled by data and AI. Based on everything we talked about today, we believe it is the fuel of driving future growth, whether it's adoption and consumption, whether it's fueling our growth in mid-market and/or disrupting the entire assisted market of tax, bookkeeping, and accounting.
That's really, it's for very practical reasons that we don't break it out because a majority of what we deliver today is all fueled by AI, both our revenue and all of our internal productivity, which turns into margin expense.
For the specific agentic SKUs that have been rolled out recently, is that going to remain in that category of maybe kind of a non-disclosure?
It's not a non-disclosure because let's take your example. When you look at our business platform lineup, we have agentic experiences across everything in the lineup. We're also very intentional about what agentic experiences we include in which lineup because of the cohort of the customers and their behaviors. While they have access to all the AI agents, they would have to upgrade to the next SKU. The reason we don't break it out is because it's actually core to our lineup. Really, the message I would leave you with is we don't contemplate internally do we break it out or not. Will they find it impressive or not? It's actually, for us, it's not useful because everything that we're doing is driven by data, AI, and HI.
To dimensionalize that a bit, Mark, think about the lineup we introduced in July. The primary change was the agentic experiences. If you just take the pricing for value we did as part of embedding those agents into the lineup, the contribution was automatically higher than the numbers you mentioned that others are talking about. If you look at TurboTax Live, it's just the way we think about delivering customer benefit. That entire business, $2 billion, is AI and HI working seamlessly together. To us, AI isn't a side thing we're adding our customers to think about and separately pay for us. It's just driving the entire workflow. As Sasan mentioned, it's embedded in everything we do. It's just hard to do a bunch of algebra to isolate it and make us all feel better with the contribution. Just know it's automatically higher than the numbers you just quoted.
Thank you. That's helpful right there.
Yeah.
Yes.
Taylor?
You know what? I'm going to let you start.
That'd be good.
Thanks. Kirk Materne at Evercore ISI. A lot of amazing innovation on display today. It's great to see. I was wondering if you could talk a little bit about Mailchimp in the context of what you're doing with QuickBooks, meaning one of the real opportunities would seem to be to go up and help businesses, you know, not only manage their finances, but grow. What should we expect from Mailchimp in terms of the look and feel, integrating more into the look and feel of QuickBooks? What is the opportunity to sort of cross-pollinate those from a go-to-market perspective? Because if I remember correctly, the ARPU uplift for Mailchimp is pretty significant relative to QuickBooks.
Can you just give us a status and maybe what should we be watching for to hold you to account on Mailchimp maybe over the next year, or what you're holding your team to account for over the next year?
Yeah, you know, thank you for the question. I'll give you just a couple of headlines that I think answers your question. I would think about Mailchimp very similar to our journey in the last 10 years with payroll, payments, and now HI, which is our live experts in terms of the role that they play. The role that they play, just as a reminder, 10 years ago, payments was far, or money was far smaller than it is today, and it was growing like 10%. Today, it's $1.4 billion growing at 37%. Why? Because of the work that we did to really integrate it into the platform. The same thing applies to payroll, and the same thing applies to why Live, both TurboTax Live and QuickBooks Live, are sort of a rocket ship. It's not because of what they do standalone.
It's because of the power of all-in-one, integrating it, being at the moment of truth for customers. That's the same playbook because it's a customer-backed playbook on Mailchimp. There's a couple of things in context of the details that I thought Marianna did a very thoughtful job answering the question around what we're doing around product and/or go-to-market that you should expect. One is the key elements of the engine around driving marketing capabilities, managing your customer hub, is Mailchimp and will be Mailchimp and integrated into sort of one look and feel, which you saw today. For the customer, it's seamless. That's first and foremost.
Two, Greg Johnson, our commercial leader, actually just put together the commercial team combining across sales and Mailchimp across payments, payroll, Mailchimp, both marketing and sales, combining them and putting them in one group so that they are actually thinking about how to go to market holistically with a set of benefits and that the sales folks can holistically be able to offer the platform. I think I'll end with where I started. Just like payments and payroll and our HI capabilities with Live, you can expect Mailchimp to be integrated fully. The key, which we'll continue to report out on, is, and that should accelerate the growth rate of Mailchimp, just like we did in payments, just like we did in payroll, just like we did with our Live. We expect the same from Mailchimp.
Let's go to Taylor in the white.
Yeah, hi. Thanks so much for taking the time today. You talked earlier about how internal AI efficiency is central to margin expansion going forward. Could you maybe just talk about, as we look ahead, you've already had so much success to date, but where do you see the biggest opportunities? As we think about quantifying what those cost savings could potentially look like, any color there? Is it really a function of headcount growth or anything else we should be keeping in mind?
Absolutely. The project around rethinking how Intuit works using AI is one that Alex , our C TO, Carol, our C HR O, and myself are working across. The stats I shared, those are early innings, right? I think there's much more opportunity for our developers to continue to get more productive. As we think about the marketing organization, I see opportunity for us to continue to invest in even delivering faster cycle times, faster testing, delivering better targeting, better optimization of our campaigns, and customer success. If you think about AI, it's amazing rule-based stuff, right? The way Sarah Kim and the team run that organization, AI is at the core of everything we do. Some of the stats they share with Sasan in terms of the efficiencies they're gaining that we learned from and then amplified across the entire company are mind-boggling.
That is a key area that I look at that's giving me the confidence on margin expansion. If you look at the 90 bps non-GAAP we delivered last year, on top of that guiding for another strong 80 bps, which I think all of you were surprised by that we came out the gate with such a strong guide. That is driving the confidence, and I look forward to working across our organization to continue to unleash the productivity of our teams.
Alex, is there anything you would add connecting what you shared up on stage to what Sandeep just shared, just to maybe amplify the how?
Yeah, just to highlight one thing and emphasize one of the things Sandeep just brought up. One of the big things that we learned in enabling amazing scale with the experts for TT Live and QB Live is that you have to track basically their work. What are they actually working on? We track that in something we refer to as an engagement. We know how long an engagement takes. We know what the pieces are. We know how long the pieces take. What we've done is we've turned that towards our entire workforce. We've said, what do marketers do? What do engineers do? What do finance people do? What does everyone do in their job? How do we actually break them apart piece by piece and enable them to actually be much more efficient by replacing certain parts of their job with AI?
You saw the marketing example where something that could easily take two or three weeks now can be done in 20 minutes. The last thing that I would add is that we're hyper-focused on identifying what are the friction points that exist in us delivering as an organization that we could completely change with AI. For example, are there certain meetings that we have that could be completely automated through AI? Instead of being, hey, I'm going to accept to attend this meeting or not attend this meeting, it could be, tell me what happened in this meeting. Tell me if I got any action items. Then your agent goes and attends the meeting. It comes back to you, and you didn't have to attend the meeting. You're actually working.
These are some of the things that we're working on, both that are role-specific and really across the organization, basically to completely change the way that we work with AI.
Thank you, Alex.
Let's go with the first gentleman, then go to the back. Yeah, just sequencing it. That's it.
Thanks very much. Appreciate you taking the question, and all the great content is always very useful. Sandeep, on the TAM slide, if I look at the revenue share that Intuit is presenting, I think it's really just accounting and tax where you're showing up on that slide, and then the rest is still just meaningful market opportunity. There's probably close to 15 bars there. Maybe you can just give us a sense for how you prioritize which bar to go after. Is it the biggest TAM and you work down? Is there a sequence you expect customers to kind of start with and move towards? Does the focus on agents and assist at all shift that in any way?
Yeah, great question. Were you asking of me or Sandeep? I don't want to.
Oh, both. We'll allow both to answer.
The good news is both of our names start with an S.
That's right.
It's a great question. I think what's really important to call out are two things. One is what we talked about earlier, which is today businesses are completely over-digitized. They're using a lot of different apps depending on their size to do pieces and parts of their business: an app for estimating and invoicing, an app for paying a bill, an app for reporting, an app for financial management, right? I could go on and on. The biggest thing today is that their data is trapped in a bunch of different apps. They're spending a lot more time than they did even a year ago to try to understand what's going on in their business. They're spending far more money than where they were just even a year ago. For us, it's customer back, and it's about winning as a platform. It's not about just what TAM is large.
I mean, when you look at the spend of a business, they spend money on managing their employees. They spend money on AP and AR. They spend money on financial management. They spend money on getting the reporting and insights that they need. They spend money on bookkeeping and tax and accounting. Today, we have all of the pieces and parts based on all the investments we've made in the last six years to truly have an all-in-one platform that's fueled by data, AI, and HI to do the work for them. That is what gives us a lot of confidence as we look at our growth formula looking ahead. It's actually why 10 years ago we were growing 8%, and today we're growing 16%, and we're 4x the size.
It's because of the fact that more so than ever, we have all the pieces in one place, and the customers are more ready than ever before. They want all of their stuff in one place so they can get to the insights to drive growth. Now that we've got all the parts and pieces to truly become the system of intelligence to do the work for the customers, that's why we have so much confidence about our growth formula going forward. It's the question I answered earlier when Alex asked, we know what your guidance is, but your aspiration is 20%. How do you get to it? It's fueled by AI. It's how we then disrupt the assisted market, tax, bookkeeping, and accounting with our partners. Third, it's mid-market. That's all fueled by having all the pieces and parts in one place.
Raimo Lenschow from Barclays. First of all, can I sign up for that agent with the meetings? That sounds like super interesting.
We still need you to come here in person. You can't send the agent.
My question is on international. We've been talking international for quite a few years now with you guys. I remember when you bought Mailchimp, that was kind of seen as a way to open up doors because they had more international exposure already. How do you think about that kind of journey there now? Is that, are we waiting now for Mailchimp to come back and then international starts getting better again? How do you think about that journey? Thank you.
Yeah, may I start?
Oh, yeah, go for it.
We're not waiting for Mailchimp. I think the key takeaway with international is what you saw up here today. We're launching outside of the U.S. in the months to come, and that's really important from the perspective of helping customers manage their business, whether we've built the app or it's a partner, truly shifting from where we've been to a system of intelligence. Mailchimp is simply going to be an ignition for that acceleration of growth, but it's not dependent on Mailchimp. One is just really building our platform globally versus just U.S. and then over-sequencing. The second, and I don't want to overplay this too much, but it has a lot to do with it, which is just talent.
The talent we've put in place, the focus that we have in place, we have a lot of confidence that in the future it's going to be far more creative than it is today. I would just tell you, it's repeating what Sandeep said earlier. We're not talking that much about international, not because it's not important. We want to talk about it when it's actually accretive to growth. We have so much opportunity across what we've talked about earlier today that international is important to us five years from now. It's not important relative to accelerating the company's growth. For us, our mindset is less talk, more do, more points on the board. You'll be asking us how did we accelerate international, and that's the right time to talk about it.
The small component is complementary, I'll add from my lens. International strategy for us is a mix of customer growth with this massive unlock there and healthy ARPC growth. It has to be platform. Platforms are entire platform capabilities inclusive of Mailchimp. That's how we think about it. The team we have there, that's a mandate. Come back to us with a durable strategy that's going to grow not just customers, but also strong monetization. You want to call?
Now he's putting it on me. Please, back there. Sorry, the light is in my eye, so I can't see who's back there. Just stand.
All good. Thanks, Sasan. Brad Sills from Bank of America. Thanks again for hosting another great analyst day. Questions on mid-market since it's such a key pillar of growth here for you. With IE S, I think the focus this past year was on selling into the existing QB O base. As you think about that TAM, they think the up-market opportunity is probably more significant. Curious where your thinking is now. Are you looking back over the past year? What were some of the learnings now that you've had the product in market for a full year? Are you ready to kind of move into that up-market segment of the business? What changes might be required as you make that pivot?
I would call out, if I were to zoom out, a few big learnings that we've had that inform what we're doing now to accelerate in FY 2026. One is our sweet spot is customers with $10 million and over, particularly with Intuit Enterprise Suite. What we've learned is the larger the customer, it's our sweet spot, which gives us a lot of confidence in terms of continuing to build out the platform so we can go well beyond the $100 million mark. Although revenue is not the only indication, it's the complexity of the business, but revenue is one way to talk about it. That's one huge learning that we've had. The second one, which we've had this learning before, but now that we have the platform and are really partnering with our accountants, we now see it at work in a very big way in mid-market.
Accountants are such important partners of ours, not only for us to help them digitize their firm, but to partner with them to serve these larger customers. It's done right. It's to their benefit because of the reasons why you heard from Ashley, we win. We win on experience. We win on price. We win on total cost of ownership. That makes the accountant look great, and it's great for the end client. That's the second big learning. That's why you see that we have 2x the growth that's driven from accountants because we're really building out a model that is important to be able to serve accountants. Although we said stay tuned, the Accountant Suite is going to help a lot with this.
I would say the third big thing, which really Ashley has opened our eyes to, is she was very thoughtful in the way she answered the question. She was like, great platform, great sales team, but you're not doing any B2B marketing. There's no awareness of what you do out there. That's the third thing that we've learned that we're doubling down on, which is B2B marketing, making sure that we have great leads for our sales folks so they can continue to be more productive rather than finding the leads, having the leads in their hands because of the work that marketing does. Last but not least, to put a fine point on the question that you asked, our base continues to be a massive opportunity for both emerging mid-market, which is QuickBooks Advanced, and Intuit Enterprise Suite, both of which comprise our mid-market growth.
While our base continues to be the largest opportunity, and frankly, if we didn't do anything the next five years and just focus on our base, we could have a huge business here. We are starting to put the right things in place to begin to hunt for new customers because they're actually calling us. The word is getting out. If an RV park that just came, RV park management, or wealth management, or a construction company that was an existing customer that comes to Intuit Enterprise Suite, they rave about it. The next construction company that may be on outdated systems or a bunch of apps picks up the phone and calls us and says, hey, can we talk about Intuit Enterprise Suite? That's a motion that now we are building as we look ahead.
Those are all the biggest insights and learnings that are informing everything that we are doing today.
Thanks very much, Scott Schneeberger from Oppenheimer. A couple of tax questions. Sasan, the big, beautiful bill looks like it's going to add a lot of complexity, which do it for me, do it with me, seems like a great opportunity for you. Do you see it as a big tailwind? Is there anything we should consider negatively as well with that? The second one, Sandeep, when you were speaking, you stressed maintaining dollar market share in DIY tax. There's a lot that goes into that equation, but I guess the free, how you're thinking about free permanent versus evolution? Thanks.
Why don't I take both of those, and then you and Mark can augment?
Please.
Awesome. Let me start with the Triple B Act, right? We think it can be tremendously helpful to the U.S. economy, but there are levels of complexity. Is this over time paid deductible or not? Or do I have to pay taxes to it or not? We do think there is a high level of complexity, but it's not something we're necessarily banking on as we think about our guidance. That's one way to think about it. The other thing to keep in mind with the one big beautiful bill act is that IRS typically opens on the last Monday of January. There's a lot of complexity here.
If this bill could actually lead to the IRS potentially opening a little later, which could push revenue from Q2 to Q3, that's an area we have no insight about, early knowledge about, but just something that I want you to have on your radar once we get to Q2 and our guide towards Q2. Now, coming back to how we think about DIY and assisted. To us, it's all about growing our ecosystem of filers. If you have a complex situation in your life, such as my eldest started attending college, I'll likely be an assisted customer this time because I have more questions. Next year, my life is going to be pretty much similar, status quo year- over- year. I might go back to being a DIY. That's totally fine for us because we're maximizing the LTV of the customer. That's kind of how we think about it.
When I stated our goal of continuing to serve assisted tax, growing TurboTax Live 15 to 20, we also want to make sure that we don't take the eye off the ball of innovating on the DIY segment and making sure we're winning on DIY across all of the income bands that we've talked about in the past on our earnings calls. That's the guidance we're putting out there that continue to make progress to assisted while we make sure that we don't lose and are maintaining our share on duty to ourselves on the dollar basis. Anything you'll add?
Nope. Perfect. Kash.
Let's go to Kash, and then we'll come here.
Thank you. Excellent, excellent analyst day. I had two questions and will try to be as brief as possible. One on AI. There's this view that foundation models can do everything. They're magical. The VCs posting all kinds of messages that SaaS CEOs are under death watch, irrelevant business model. I mean, almost, almost unbelievable. What is wrong when there's so much smart money behind that seemingly smart thinking? What could they be not factoring in with companies like Intuit that you're very strong? You've got a strong position. What is wrong with that thinking in the valley? Number one. Number two, the delta between current growth rate, which is 16%, is very solid at 20%. I could chalk it up to maybe online ecosystem growth a little faster. There was a target a few years ago that that business would grow 30%.
You could see a path to that, or you could see taxes do significantly better. Both are very different paths. One has some friction, and the other one has less friction. The thinking is that we can still grow margins irrespective. Just wondering what your thoughts on both those questions. Thank you.
Yeah, sure. I'll start with the first one, Kash. I'll just share our belief versus comment on maybe the belief of others. My belief is SaaS companies will either be disrupted or they will be disruptors. Over time, I don't think there's going to be much in the middle. The reason that we believe that, I believe that, is because with what's possible with data and AI. With what's possible with data and AI, you can't do anything with LLMs unless you have data. It's all about data. With data services, which is about ingesting data that you don't have, and AI capabilities, what we are doing is building a system of intelligence, which is a learning system that will do whatever the customer needs it to do.
Just give us a prompt of what you need, and we'll do it for you, which is what you saw us demoing today. That's what we've been building for the last six years. It's why we bet the company on data and AI. Many at the time in which we declared this weren't even listening to us. We have six years of building data, data services, AI capabilities, and a system to do the work for customers. Our strength is the data, data ingestion, and all the AI capabilities to be a system of intelligence, which is why structurally our growth rate is profoundly different today than just 10 years ago. 8% growth at $5 billion, $20 billion growing 16%. We have a lot of confidence based on all the proof points that you saw that our best years are ahead of us.
Frankly, we don't think about things in years. We think about them in hours, days, and weeks because that's how fast we are moving. That's what gives us confidence. I do believe that if you are fundamentally not focused on data, data models, data services, and AI to build learning systems that become the system of intelligence, you can get disrupted. LLMs by themselves are not magical. It's all the things that I just mentioned, the domain expertise that ultimately comes with it. That's the first question that I think you asked. The second one is maybe it's a repeat, but when you look at all of our innovation with what's possible now with AI and HI, you add to that a $2 billion. I mean, how many $2 billion businesses do you know that are growing 47%? That's TurboTax Live. We believe we're just scratching the surface.
You maintain that, plus you maintain 40% in mid-market, which is all fueled by the same platform capabilities. These are not different businesses. These are all, it's one platform, one data lake, data services that ingest data, similar data models, and then AI capabilities that's fueling these three areas. I think we can accelerate the growth rate of the company, but we'd rather guide the way we do and deliver high-stakes do than otherwise. That's the way we think about it.
Should we go up here? Talk to you up here, and then those two gentlemen back there after that.
Hi, Ben Solak from F/m Investments. I'm just curious on that AI agents you guys were talking about. This person had to input their data seven times before it goes across all their different apps. I'm curious what kind of structural advantage you guys have to say instead of a third-party app coming in and taking all that data, you have Intuit's app using the data that they're putting in into all the other systems?
I'm going to let Alex answer that question because it's all about how we've built our platform capability.
Yeah, the structural advantage we have is that once you enter the data once inside of our platform, it's immediately available everywhere across the platform. Even in the scenarios where you have a customer who may be using another provider to pay bills or to collect payments, we can actually, for lack of a better word, simulate what that would look like on our platform. We could show it to them because we already have their data. We've made significant investments in our data and capabilities, these data services that Sasan was referring to. We can basically go get data from anywhere. It can be data where we call an API and go get the data. It could be data that is sitting inside of an email app like Gmail. We can go get the data, extract the attachments, take the data off of it.
We can upload pictures of documents. Somebody can scratch a note on a piece of paper that's an estimate and take a picture of it and send it to us. Our structural advantage is that, as Sasan has been saying, we've invested so much in being good at data, the data models, going and getting new data that now what we can do is instead of the customer having to manually enter it in these different places, it just immediately shows up in our version.
Looks like we are out of time. First of all, thank you for all the questions in the room. Thank you for everybody on the webcast that has joined us. I just want to maybe wrap and end with where we started. Our posture is very different today versus even a year ago because we have put together all of the pieces and the parts to be able to truly be an all-in-one platform that's the system of intelligence for customers that does all of the work for them, disrupting the business logic layer, the workflows, and apps, and ultimately becoming the place where, based on data, data models, HI, and AI, we can do everything for our customers. We are very excited about the foundation that we have. We are very hungry and bullish about what's possible.
We look forward to talking about the amazing benefits we're delivering for customers and our results going forward. I think that will bring us to a close for the webcast. For everybody in the room, we are going to dart upstairs where there's going to be amazing food and the leadership team will be up there. You can mingle with anyone that you would like. See you up there in a few minutes. Thank you.
Thank you all.