Intuit says AI focus has caused a slip in new customers

Intuit CEO Sasan Goodarzi said the company is "resetting expectations" and shifting focus back to customer acquisition after heavy AI spending slowed growth, with online paying customer growth slipping to 3% and FY27 growth projected at 9-10%. Intuit reported FY26 revenue of $21.4 billion, up 14%, but lost customers to low-cost competitors.

AI /tag/ai/ Intuit’s CEO says he is “resetting expectations” for the tax software company and shifting focus to finding new customers after a period of heavy AI spending led to a slowdown in growth. Sasan Goodarzi said Intuit was “not as focused as we need to be” on new customers as he fended off concern that AI-driven competition was responsible for its smaller 9-10% growth projection for FY27 https://investors.intuit.com/news-events/press-releases/detail/1320/intuit-reports-fourth-quarter-and-full-year-fiscal-2026-results-sets-fiscal-2027-guidance?ref=thestack.technology . During an earnings call Tuesday, the CEO said: “We are really doubling down in core areas where I am personally dissatisfied and hold myself accountable for the lack of performance, which is DIY tax, and on the low end in the business group.” After marking a 14% increase in revenue to $21.4 billion in FY26, he told analysts he was “resetting expectations for the company” and taking offensive action after losing customers to low-cost competitors. He said Intuit had to “really shift” focus and capital to build its agentic platform but would now move investments back toward the goal of customer acquisition. While its overall customer base grew 28% during the year, online paying customer growth slipped two points to just 3%. Intuit’s AI shift Get the full story: Subscribe for free Join peers managing over $100 billion in annual IT spend and subscribe to unlock full access to The Stack’s analysis and events. Subscribe now https://www.thestack.technology/membership/ Already a member? Sign in https://www.thestack.technology/signin/