Good morning. My name is Jenny, and I will be your meeting operator for today. At this time, I would like to turn the call over to Kerry McLean, Intuit's General Counsel and Corporate Secretary. Hello, and welcome to the 2026 Annual Stockholders' Meeting of Intuit Inc. I'm Kerry McLean, General Counsel and Corporate Secretary of Intuit. Thank you for joining us today, wherever in the world you're located. We'll begin the business portion of our meeting. After that, Sasan Goodarzi, Intuit's CEO and President and a Director, will give an update on our business and answer your questions. We'll do our best to answer as many questions as possible, and we'll address any unanswered questions on the Investor Relations section of our website shortly after the meeting. This meeting is now officially called to order. We are joined today by Steve Mayer, representing Ernst & Young, our independent auditor. We also have Kathy Wheaton, representing Broadridge, the Inspector of Elections for this meeting. In addition to Sasan, Sandeep Aujla, Intuit's Chief Financial Officer, is also on this call and will be available to take your questions. A list of stockholders of record entitled to vote at this meeting has been available for examination for the past 10 days at Intuit's headquarters. Now, let's turn to the formal portion of the meeting. I have an affidavit from Broadridge certifying that the meeting notice, proxy statement, and 2025 annual report, or the Notice of Internet Availability of those documents, were sent on or about November 26, 2025, to all stockholders as of the November 24, 2025, record date. These documents will be incorporated into the minutes of this meeting. The Inspector of Elections has executed their oath, which will be filed with the minutes of this meeting. Broadridge has counted the votes cast on each proposal, and Ms. Wheaton has informed me that we have a quorum. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted by telephone or internet and who do not want to change their vote don't need to take any further action. The polls will close in a few moments, after which the formal business of today's meeting will be concluded. After Sasan's business presentation, we'll provide time for general questions. Only validated stockholders may ask questions in the designated field on the web portal. You can submit your questions before the Q&A portion of the meeting begins. Please limit yourself to one question. Only questions on the proposals to be voted on at this meeting that are consistent with the rules of conduct will be considered. Please note that this meeting is being recorded, and a replay will be made available after the conclusion of the meeting. We do not authorize any other recording of this meeting. Now, we'll turn to the matters being voted on. We have three management proposals that will be voted on at this meeting. Proposal number one is the election of 11 directors to hold office until 2027 annual meeting of stockholders, or until their successors are duly elected and qualified. Proposal number two is the advisory vote on executive compensation, or say-on-pay vote, and proposal number three is the ratification of Ernst & Young as our independent registered public accounting firm for fiscal 2026. This year, we received a stockholder proposal, and the sponsor of the proposal wishes to make a brief presentation. Operator, please open the line for Stefan Padfield from the National Center for Public Policy Research, the sponsor of proposal number four. My name is Stefan Padfield, and I'm the Executive Director of the Free Enterprise Project, which is part of the National Center for Public Policy Research. The National Center is the proponent of proposal four, which requests a report assessing the return on investment of Intuit's diversity and inclusion programs. We are realistic about today's proceedings. We anticipate that the official vote count in favor of this proposal will likely be low. However, it would be a critical mistake for the board to rely on that result to conclude that shareholders do not care about the financial viability of DEI initiatives. First, the claim that shareholders are indifferent to DEI ROI is facially difficult to swallow. We are discussing the company's capital, money that belongs to the true owners of this firm, many of whom are everyday citizens relying on corporate returns to fund their retirements. To suggest that these investors are uninterested in whether distinct corporate expenditures generate value is contrary to the very nature of investing. Second, there are numerous red flags suggesting that the vote counts reported today do not accurately reflect the views of these true owners. The modern voting system is heavily mediated by intermediaries. A glaring red flag is the specter of conflicts of interest involving the Big Five asset managers and proxy advisors. The control these entities exercise over shareholder votes is hard to overstate. But these firms are arguably driven by both financial and ideological conflicts that drive them to vote against anti-DEI mandates, effectively decoupling their voting behavior from the strict financial interests of the beneficial owners they claim to represent. Third, we must look at the board's voting recommendation itself, which arguably controls the bulk of the remaining votes. Notably, the board's opposition statement doesn't even bother to mention ROI once and is instead apparently content to spend half its time spewing what can only be described as empty platitudes. Are we to conclude that D&I is an unprofitable cost center? If so, say that. In addition, directors are certainly not immune from their own perverse incentives, including potentially prioritizing personal legacy and social standing over internal fiscal discipline, but nonetheless, I note that if the board dismisses this proposal based solely on the vote count, then it is effectively stating that financial accountability for D&I is unnecessary. This would, however, constitute a very tenuous defense if the directors were ever sued for consciously ignoring the ROI of D&I. Imagine being told that they ignored the DEI ROI because they believe shareholders simply don't care about ROI. The bottom line is that shareholders deserve to know the DEI ROI. That concludes that. Please move on. Sure. Thank you, Mr. Padfield. We will now continue with the meeting. The board recommends that you vote for all 11 director nominees, for proposals two and three, and against proposal four. We'll now pause briefly for anyone voting live to complete their votes. Now that everyone has had the opportunity to vote, the polls are officially closed. We'll publish the final vote totals in a Form 8-K that we expect to file within the next four business days. Based on the preliminary results of the vote, the stockholders have elected the 11 board nominees named in our proxy statement, approved the advisory say-on-pay proposal, ratified the selection of Ernst & Young as our independent registered public accounting firm for fiscal 2026, and not approved the shareholder proposal. That includes our formal business today, and the formal portion of the meeting is now adjourned. In just a moment, we'll turn the meeting over to Sasan to give you his business update and answer any questions. Sasan's remarks may contain forward-looking statements, and there are a number of risks that may cause actual results to differ materially from our expectations. For more information about those risks, please see our SEC filings, which can be found on the Investor Relations page at intuit.com. Thank you for your time this morning, and now I'll turn things over to Sasan. Hello, everyone, and welcome to Intuit's annual shareholder meeting. I'm so excited that you're with us today. I'm going to focus on three things today. One is a look back. Second is the future that we're focused on creating for our customers to power their prosperity. And third, what you can expect from us. Now, as you know, we serve consumers, small businesses, and larger mid-market businesses. And we have two big benefits that we are focused on. One is we want to double the household savings rates of any consumer that's on our platform. And we want to double the revenue and profit growth rate of any business over a three-year period that is on our platform. That will lead to higher success rates for businesses. Now, the way we are focused on doing that is to create a system of intelligence. What that means is that we want to be in a place where we can do all of the work for our customers, from lead to cash, from credit to wealth, to power their prosperity, to bring enterprise-level expertise to our customers with them always in control so we can help a consumer thrive. We can help a business grow. Today, I'll talk about how we're doing that. But I think it's important to go back to seven years ago when we declared that data, AI, and HI, human intelligence, was going to be where we were going to put our capital allocation, our talent, our intelligence, our focus of the entire company to create this system of intelligence. Because we believed back then, based on everything that we have learned from those that we serve, the more we do the work for our customers, the more we bring them insights so they can act on those insights, the more we eliminate drudgery and work and give them confidence, the more we can help them thrive. And that has really paid off for us. When you look at our growth rate from FY14 to where we are today, we have nearly 4X the company from $5 billion in size to almost $20 billion in size. And we have doubled our growth rate from 8% to 16% growth. Now, if you look last year specifically, we beat on every metric that we committed to you. At the same time, we've always been a company that's always about what can we do better. And there are two areas where we are constructively dissatisfied. One is the growth of Mailchimp. The second is the growth of international. We have confidence that we have the right leaders in those places. We have the right plans and the right focus. Now, that momentum from last fiscal year carried on to our first quarter where we grew the company 18% and once again beat on every metric that we committed. Now, that's a brief look back. But I would tell you that this look back is about the foundation that we have put in place over the years to deliver for our customers and to deliver the shareholder results. And I'm actually more excited about what's possible in the future. Now, for the future is all about our customers. And it's all about the problems that we're focused on solving for our customers. These are very complex problems because for consumers, we want to help them build credit to build wealth as defined by them, to help them make ends meet, to help them get out of debt, to be able to ultimately save for the most precious things that's important to them, and to be able to get ahead in life, again, as defined by them. And for businesses, we want entrepreneurs to thrive. We want entrepreneurs to be successful. We want them to be able to do the fundamental things well, which is about growing customers. It's about cash flow, and it's about making sure that they are putting aside the right plans and investments for the future, which is about Lead to Cash. Now, what's very exciting about the space that we play in is twofold. One, these problems are hard to solve and they're complex. Two, we have a very large total addressable market of over $300 billion. Now, as you just saw on the slide, our penetration has actually gone up from 5% to 6%. But we have so much more room to improve, to solve our customer problems in ways that they could never imagine possible to power their prosperity. This is what makes us very excited about the future. We also have secular shifts that we believe play in our favor, and there are multiple things that are happening at the same time, and they've evolved over the last several years, but they're happening at the same time. First of all, consumers and businesses of all sizes are completely over-digitized. I'll come back to that in a moment. As all of you know, AI is everywhere, and it's actually being used by everyday consumers and businesses and enterprises to figure out how can I extract value from AI? How can it help me do my work? How can it help me propel forward? And the third thing that's converging is the new generation of customers, the Gen Z and the Gen Alpha that have been born after the smartphone and want things done for them with expertise at their fingertips. So these secular shifts really play into our hand relative to what we declared seven years ago. And we have all of the pieces and parts today and a narrowed focus to really deliver for customers and leverage these secular shifts. Now, let me spend a minute on over-digitization. This is something that's really changed a lot in the last couple of years. When I spend time talking to consumers, businesses of all sizes, our accountant partners, in this case, I'm just going to focus on businesses for a moment. What's happened is businesses are using from either seven apps, by the way, in some cases, almost up to 30 to 40 different apps to be able to run their business. And at the time, it was a great idea. I'm going to have an app for an estimate, an app for invoicing, an app for paying bills, an app for managing my cash flow. I have multiple experts that are helping me. And at the time, each of those decisions made a lot of sense. But what's happened now is that these businesses are paying more money than they did in the past. They're spending more time to try to figure out what's actually happening in their business because their data is siloed across all of these apps, which means they have no insights. And ultimately, more time, more money, less insights. And this, again, is something that we've been working on for years, which is how do we do the work for you. So with that context, let me now talk about our game plan to win. I just want to pause for a moment and talk about how intentional Intuit has been over the last 40 years to really focus on culture and system of how we lead the company so that ultimately we can always reimagine the company, always be willing to disrupt ourselves for our customers. And that game plan is the fact that everything starts with our mission, and we measure what we say is important. Today, I'm going to go through a couple of these areas that are highlighted here. I won't go through all of them. But your takeaway should be that we are a company about culture and system and standards and principles to really deliver for our customers. And all of that for our customers really starts with our mission of powering prosperity around the world. And I think the thing that's most important about our mission is we fall in love with our customers' problems. We do our best never to fall in love with our solutions. But by being obsessed with our customers, it allows us to always do what's right for our customers. Our values are very important to us. We are a company where if you come walk around our campuses, you'll see our values. But it's embedded in everything that we do every single day. These are the behaviors that we expect from myself, from our teams when no one is looking. And two of these values have not changed: integrity without compromise and we care and give back. Those two are really about always doing what's right, always having good intent, and doing what's right, more importantly, when nobody's looking, and ensuring that we make the communities around us better. The three in the middle are ones that we've changed in the last several years, particularly in the era of AI and the era of what's possible. We want a company that is bolder. We want a company that swings for the fences. We want a company that is obsessed with what matters to our customers and a company that really galvanizes the best of every employee to deliver for our customers. Now, part of those values around courage, which is about being bold, is to set bold aspirational goals. This is very important to us internally. We want to shoot for the moon. We want to take big swings. And that's what these goals represent. The first one, and I would say probably the most important, is what we want to do for our customers. And I mentioned this a few minutes ago. We want to double the household savings rate of any consumer on our platform. And most businesses, or I should say, when you look at all businesses, 50% of them go out of business after five years. We want anybody that's on our platform to have a 20-point better success rate than those that are not on our platform. And in terms of where we are today, by the way, for the consumers that are on our platform, their household savings rate is 1.9%. Those that aren't. So we're close to our goal. And in fact, those that are on our platform are 21 points more likely to succeed than those that are not. So these goals are ones that are not just aspirational. We strive for them. We work hard towards them. We want to sustain them. And the last one I want to touch on is we have aspirations by doing the right thing for our customers to grow the company 20%. At our scale, that's difficult. But if you just look at last fiscal year, our consumer platform grew 15%. Our business platform grew 16%. And there are three things that when we get right on a sustained basis, we have an opportunity to grow Intuit 20%. And those are the growth that we can enable based on all of our AI and HI investments, which is about really getting our experiences where they're all done for our customers, with our customers in control, really sustaining our assisted tax growth. And third is sustaining our mid-market growth at 40%. So we are very excited about our bold goals because it stretches us to do things that we never imagined possible. So let's now talk about, well, what is our strategy to deliver the two big benefits that I talked about for our customers? Our strategy is very simple, very straightforward. It's about an AI-driven expert platform. What that means is we want to be able to create a system of intelligence that does all of the work for our customers, from lead to cash, from credit to wealth. What does that mean? What that means is imagine marketing plans are done for you. Helping you manage your customers are done for you. Managing your cash flow is done for you. Your books, your taxes are done for you with the customer always in control. Now, the way we do that is through our investments in data, in AI, and human intelligence. We believe in our category, the integration of technology and humans is essential because technology will always run out of what's possible to achieve, and the human has to be involved, and humans want to interact with humans in our category because it's about people's money. So an AI-driven expert platform is all about AI being the new UI and HI being the X factor, our differentiation and what customers rely on for confidence. Now, strategy is important, but it's about what are we going to do. And so we've made three big bets. We have shifted significantly the attention and the resources and the capital allocation of the company on these three big bets that you see here to bring that strategy to life for our customers. The first one, which I've talked about quite a bit, is about delivering done-for-you experiences. And that simply, again, means whatever it is that you're trying to do, whatever that task is you're trying to achieve, whether it's an estimate or an invoice or getting your tax done, we will do it for you with the combination of our AI agents that do the work for our customers and human intelligence integrated as one platform. So if you are a business, you're based on all of the data and everything that we know about you and all the businesses on our platform and businesses like you, we can help you with what kind of marketing plans should you put in place. And we'll propose it to you and execute it on your behalf. How do we make sure we can increase your cash flow, the invoices that are overdue, get you paid on those invoices automatically, give you access to capital automatically, and ultimately make sure your books and taxes are done for you? And whether it's an AI agent doing it and/or a human that is doing it with our accounting partners, that is done-for-you experiences with customers always in control. And the reason this is important is this is what drives doubling household savings rate of our consumers and helping businesses grow their top line and bottom line. The second big bet is really about accelerating the money benefits that we deliver for our customers. At the end of the day, businesses get into business because of their passion and their love, but they've got to make money. And so we are very focused on how do we ensure our entire platform is about the customer's cash flow and increasing their cash flow, making sure they can make smart decisions. And for consumers, it's not just about getting their taxes done. It's actually about the largest refund. How do we grow the refund? What are the bills they should pay first, second, and third? How do they grow that money? All the while, we're doing it for them with their permission and with them always in control. So money movement is our second bet. We want to stand for money for our customers. And the third, when you think about the $300 billion total addressable market that I talked about earlier, a third of that is mid-market. These are customers we define today from about 10 million in size to about 100 million in size. We're not going to stop there. We're going to serve larger businesses over time. But this is a massive opportunity for us where we win on experience, we win on price, and we win on total cost of ownership, and again, bringing the intelligence of done-for-you for larger businesses that helps them thrive. So these are the big bets of the company. And we couldn't be more excited about the progress that we're making, the momentum that we have, and again, as I said earlier, just what's possible. Let me just, if I could, spend a minute on, well, what is our advantage as a company? A couple of things I would say. One is our advantage is we are focused on solving the jobs that matter most to consumers and businesses end to end because at the end of the day, the customer wants everything done for them. It's everything that we hear from customers today, particularly because they are over-digitized and overwhelmed. The second is the data platform that we have built. It's our customer's data, not ours. But we have a massive amount of proprietary customer data that allows us to deliver some of these insights. And we see over $1 trillion of money. And so the combination of our domain expertise, longitudinal data, and behavioral data we have over the years, and what we see in all the money that we move and all of our machine learning and knowledge engineering and Gen AI capabilities, you put all of that together, that's how we are able to create value for our customers in ways that are very advantageous to deliver the benefits that I talked about earlier. And if I were to really synthesize all of this, it comes down to three things. One is data and data services. I've talked about data a lot. Data services are capabilities that we have built to be able to ingest data, whether you have data in Gmail, you have data in an Excel spreadsheet, you have handwritten notes where you can take a picture of it in our platform ingestion. Those are data services. That's one big advantage. The other is artificial intelligence and human intelligence. Now, LLMs are actually commoditized, and we like that. They're going to keep improving, but they're commodity. What really matters for us is the combination of machine learning, knowledge engineering, and our financial large language models that we have built in combination with our largest network of AI-powered trusted experts. The combination of that is an advantage. And third, we're the system of record. At the end of the day, we're about managing money and financial management, and we're the system of record for our customers. But we're taking that to a whole different level, which is about being the system of intelligence. And again, assisted intelligence means that we are truly the assistant by your side where we'll do the work with you and for you in a platform that you can interact with, like, "Hey, who are my most profitable customers? Give me a marketing plan. Can you execute the marketing plan for me?" We want to be that intelligence layer based on all the capabilities that I talked about earlier. So that's the second thing I wanted to talk about, which is what's the future we are creating for our customers. But let's now talk about our say-do. And let me talk about some of the results, the proof points that show where we are on this continuum of creating this future. Let me share with you four different sort of categories of proof points. The first one is just in terms of delivering done-for-you experiences. Since we have launched the combination of our AI agents and human intelligence, and AI agents being things like an AI accounting agent that does accounting for you, a payment AI agent that will create invoices and send them on your behalf and make sure you get paid. Those are illustrative examples. But since we have launched some of these agents, we've had 80% repeat usage of these overall agents by our customers. And for routine tasks, customers are able to complete tasks at a 2x faster rate, which is a really big deal. For those that use the accounting agent, they're saving about 12 hours a month, which is significant, and those that use our payments capabilities and agents are getting paid five days earlier, and these are just illustrative examples of just the start of a real customer benefit based on all the investments that we are making, and internally, to be great at experiences externally, you have to use these capabilities internally. For instance, our engineers that are using AI assistants internally are creating 40% of their code with AI assistants and delivering almost 39% more code than they did, and that's important because code is innovation for our customers. The second category I want to talk about is the impact for our consumers, and this is a real sort of good proof point around disrupting the assisted segment with AI and HI and fundamentally the data that we have. Our TurboTax Live, which is, we help do your taxes with you or for you, grew 47%. This is now over $2 billion business growing at 47%. And the second proof point that shows the power of our platform, TurboTax and Credit Karma integration, Credit Karma has contributed one point of growth in tax. And when you're using the combination of Credit Karma and TurboTax, our ARPC is up 38%. And we've helped consumers get access to $14 billion of their refunds sooner than they could have otherwise. So this is the real power of data, AI and HI at work to deliver customer benefit and accelerate growth. The third area is just on our platform serving small businesses. I think this is a wonderful example of the impact that the system of intelligence is having, both in terms of customer growth, ARPC growth. QuickBooks Live, which is our human intelligence, grew 2x in the last year, and then the services that customers use to run their business, whether it's payments to get paid fast or payroll to pay their employees, you can see those respectively grew 37% and 25%. Real proof points around the progress that we're making at one platform doing it for our customers, and last but not least is mid-market. As I mentioned earlier, this is one of our three bets, and it's a rocket ship, and we're really excited about what we can do for larger customers. This segment grew 40%, which we're excited about. Those that use our Intuit Enterprise Suite, which is built for mid-market companies, that's an AI-native ERP platform. The attached rate of payroll and payments and usage is much higher, as you can see here. But the thing I want to end with on this slide, which I'm super excited about, is the ultimate impact for customers. We had Forrester do a study, and customers that are on Intuit Enterprise Suite are seeing a 300% return on investment by being on Intuit Enterprise Suite. And it's really divided into three parts. A third of that 300% is they're actually accelerating revenue growth because all their stuff is in one place. We're giving them insights as to choices and decisions they can make, and it's accelerating their revenue growth. The second is because everything is in one place, they're actually seeing efficiency gains. And the third is total cost of ownership. We're getting more revenue, but the customer is actually spending less money, and that's where the 300% comes in. So we are super excited about the proof points because it's always important to have a bold goal, customer-backed strategy, but then the proof around the progress is also important. And this is what gives us confidence around the future and what's possible. Let me begin to bring us to a close and reflect on something I said earlier, which is we truly believe culture, systems, standards is the way we run the company so we can always have a company that is willing to reimagine itself, willing to disrupt itself for customers, and always be in love with our customer problems. And our Intuit operating system is a real advantage for us because it keeps us honest. It keeps us focused on customers. These mechanisms have multiple different parts. One is about thinking about the future and having a work-back plan. The other is experience reviews where what kind of experience are we delivering for customers today to the focus that we have on talent and culture. And this allows us to be intentional about how we lead the company on behalf of our customers. Now, I've done three things. I'm hoping landed with you. One is our say-do. Two is the future that we are focused on creating for our customers to power their prosperity. And then third is what you can expect from us. But let me bring to life a lot of what I said with respect to the experiences that we are delivering for our customers and some experiences that are to be launched to bring it to life for you. So let me just ask our team to roll the video. I hope you are as excited as I am by watching that video because that's ultimately what we fight for every day, is to power the prosperity of those that we serve. Thank you for joining me today. Thank you for believing in Intuit. I want to thank all of our employees for all the effort that they put in to deliver for our customers, and of course, we wouldn't be here if it weren't for our customers. It's a real honor and a privilege to have a chance to serve consumers, businesses of all sizes, and of course, our amazing accounting partners. Thank you, and we'll talk soon. Bye, everybody. Thanks, Sasan. We'll now open it up for stockholder questions and comments. I'm Jeff Cogler, Intuit's Director of Investor Relations. I will read the questions that are germane to the meeting. If there are any germane questions that we don't get to during the time allotted, we will respond to them on the Investor Relations section of our website. Our first question is, Intuit asserts that it reviews areas of corporate policy such as DEI policies. What is the company's current relationship to Human Rights Campaign's corporate index? Yeah, thank you for the question. We're rated by a number of different outside organizations, including those that are focused on sustainability, faith-based organizations, and others, including the Human Rights Campaign. Thanks, Sasan. Our next question. There is little tangible shareholder value delivered over the last few years. Institutions seem optimistic, but not the retail investors. What is Intuit doing to improve the message and increase value? Thanks, Jeff. This is Sandeep, CFO of Intuit. From our lens, as a management team, we focus on executing a strategy and thereby delivering shareholder value through that execution. As we look over the last five years, we have scaled our revenue from $9.5 billion in 2021 to nearly $19 billion this past year, doubled our net income from $2 billion to north of $4 billion this past year, and also doubled our free cash flow from $3 billion to north of $6 billion this last fiscal year in the last five years. On top of that, we've been returning two-thirds of our free cash flow to shareholders in that time period, all indications of strong performance across the company, as well as strong focus on shareholder returns. Now, we can't control market gyrations, but what we do look at is how are we performing vis-à-vis our peer set. When I look over the last five years, our stock is up more than three times versus the S&P Software and Services ETF. And if you look at other software companies in our similar size, our performance is even stronger than what it was across the ETF. So from our lens, we are delivering through strong execution, and that's showing up in our share performance and our capital return to shareholders. Thank you, Sandeep. Our next question. One, any chance to return to in-person meetings? And two, how about having a video as well as an audio feed? Yeah, thank you for your input. We'll take it into consideration. At this point, we don't foresee coming back to a physical shareholder meeting, but we will take your input under consideration. So thank you. Thank you, Sasan. Next question. What percentage of Intuit's revenue is coming from international markets today, and what is the strategy to increase that? And will AI agents be coming to TurboTax? Yeah, great question. Thank you. First of all, 8% of the company's revenues are international. And the strategy and the bets that I just walked through is Intuit's global strategy. And ultimately, we are focused on executing that geographically, which, based on different geographies, our strategies are unique to delivering for customers locally. In terms of your question around AI agents, I want to reiterate a couple of things. First of all, the headline answer is yes. We already have a number of AI agents that do work for customers as part of our consumer platform and specifically TurboTax. I think what's important to amplify, which I know I touched on moments ago, is that we're focused on delivering customer benefits. It's not technology for technology's sake. And ultimately, what we're focused on is how do we fuel the success of businesses? How do we power the prosperity of consumers by doubling household savings rates for those that are on our platform? And we do that through a combination of leveraging data and AI and HI, human intelligence, that does the work for our customers. And AI agents doing the work is just one element. It's an important element, but it's only a part of what we do to really deliver undisputed benefits for our customers. Thank you, Sasan. Next question. Where do you see the future of brick-and-mortar stores in 10 years from now? How is the cost justified for a software company? Yeah, thank you for the question. First of all, what we are doing is to execute the combination of bringing technology and human intelligence together in a way that delivers an exceptional experience to really. We've really built a platform that's eating up the labor market. And what we mean by that is we're combining technology and human intelligence on one platform so we can virtually help customers with anything that they need. In this case, I think your question was around taxes. Our stores are very tech-led. They are asset-light. They're actually already in our run rate and in our guidance that we have provided. And you can see in context of all of that, not only are we delivering double-digit revenue growth, but expanding our margins because they're very asset-light. And it's really to ensure that we can show up locally throughout the year in a very technology-oriented way that's humane, that has soul, and really is disruptive to the way people do their taxes. So we're incredibly excited about where we are. And by the way, this has been years in the making, and we're excited about just experiences that have never been experienced before by consumers. Thank you, Sasan. Our last question today is, would a sale or spinoff of QuickBooks' desktop business line be considered in future plans? Yeah, not at all. First of all, I want to start with these are customers that we've had the privilege and honor to serve for the last 40 years and have really built Intuit with us. And we are a platform company that has ultimately, over the years, built everything in the cloud and now building an AI-native platform that can do everything for customers. And our goal is to serve our desktop customers. The majority of our desktop platform, by the way, is already in the cloud. And eventually, we will want to help all customers be on our cloud platform. But this is an integrated part of our platform. It's an integrated part of our company, and we will always want to serve these customers. Thanks, Sasan. That's all the time we have today. Thanks so much for joining us and for your questions. Have a great day. Ladies and gentlemen, thank you for participating. This concludes today's meeting.