I always feared for their business in case the government would create some kind of web portal that allows people to file their tax returns easily and cheaply and so not need private products. The UK has this where people can file online.
Though I guess with US capitalism, my fears are probably unfounded. And I’m sure Intuit are good at bribing lobbying the right people.
Also I don’t believe any company will use a vibe-coded product. But Joe Sixpack individual, I can see them using some vibe-coded open source tax filing product to save $50.
Also:
Intuit beats Q3 estimates, raises FY26 guidance and cuts 17% of workforce as Jefferies cuts PT to $550, keeps Buy
- Q3 revenue $8.6B, +10% YoY; non-GAAP EPS $12.80, +10% YoY, above guidance.
- Raised FY26 revenue growth outlook to 13–14% and non-GAAP EPS growth to ~18%
They beat, raise and even cut headcount and the market still punishes them. What do they need to do?!