Short answer
Intuit (INTU) filed its Q1 2026 10-Q quarterly report on Feb 26, 2026 for the quarter ended Jan 31, 2026. Quarterly revenue was $4.7B (up 17.4% year over year) with net income of $693M.
Q1 2026 key financials · XBRL
- Revenue
- $4.7B
- +17.4% YoY · +19.7% QoQ
- Net income
- $693M
- +47.1% YoY · +55.4% QoQ
- Operating margin
- 18.4%
- EPS (diluted)
- $2.47
- +48.8% YoY · +55.3% QoQ
Source: XBRL data from the Intuit (INTU) Q1 2026 10-Q on SEC EDGAR. USD.
Intuit Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q2 FY26 revenue $4.65B, up $688M (+17%) YoY; H1 FY26 revenue $8.54B, up $1.3B (+18%) YoY
- H1 operating income $1.39B, up 61% YoY; operating expenses grew only 13% vs revenue growth of 18%, indicating meaningful margin expansion
- Global Business Solutions strongest segment: Q2 revenue $3.16B (+18%), Online Ecosystem up 21% to $2.47B; Consumer Q2 revenue $1.49B (+15%), led by Credit Karma up $116M
- Cash $3.0B at Jan 31, 2026, down $1.6B from Jul 31, 2025; operating cash flow $2.21B H1 vs $1.43B prior year; repurchased 2.8M shares with $3.5B buyback authorization remaining
- TurboTax/ProTax seasonality means H1 results not indicative of full year; full 2025 tax season results not available until Q3 FY26
Risk Factors
- EU AI Act went into force Feb 2025; multiple US states (Utah, Colorado, California) enacting AI-specific frameworks, adding compliance costs and operational constraints
- IRS free direct filing system suspended but advocacy continues; government-funded tax prep could displace Intuit's consumer tax revenue materially
- Credit Karma subject to 20-year FTC security order (from 2014); failure to comply risks fines, enforcement actions, and reputational damage
- Macroeconomic headwinds: rising rates, inflation, trade policy uncertainty, reducing Credit Karma partner activity and small business loan repayment capacity
- 2020 Notes contain change-of-control repurchase trigger tied to credit rating downgrades; early repayment obligation could impair liquidity and deter acquisition activity
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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