Intuit Q2 18

Hi all,

Intuit released another set of good results...2.8M total subs
If you discount the QBSE, about 2.3m which is roughly double Xero's last announcement.
Xero has roughly 1/3 the total subs on the QB ecosystem (if you also include desktop), which is not bad from a standing start, but has not really budged these numbers in the last year or two.
Of note, QBO is starting to finally see revenue increase proportionately to subscriber growth suggesting that the years of undercutting might be finally beyond us.

Will be nice to see Xeros next update in May.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10	Column 11	Column 12	Column 13	Column 14	Column 15	Column 16	Column 17	Column 18	Column 19	Column 20	Column 21	Column 22	Column 23
0		Q1FY13	Q213	Q313	Q413	Q114	Q214	Q314	Q414	Q115	Q215	Q315	Q415	Q116	Q216	Q316	Q416	Q117	Q217	Q317	Q417	Q118	Q218
1	Total QBO	399	430	459	487	516	561	624	683	739	841	965	1075	1159	1257	1397	1513	1638	1870	2220	2383	2552	2827
2	Revenue									48	52	57	61	66	72	78	87	93	103	117	129	145	163
3	QoQ growth		8%	7%	6%	6%	9%	11%	9%	8%	14%	15%	11%	8%	8%	11%	8%	8%	14%	19%	7%	7%	11%
4	pcp growth					29%	30%	36%	40%	43%	50%	55%	57%	57%	49%	45%	41%	41%	49%	59%	58%	56%	51%
5	Qoq rev growth									8%	10%	7%	8%	9%	8%	12%	7%	11%	14%	10%	12%	12%
6	US				455				600				877				1226	1315	1500		1883	2002	2197
7	Non-US				32				83				198				287	323	370		500	550	630
8	NON-US/US				7%				14%				23%				23%	25%	25%		27%	27%	29%
9	UK												40				71	~87K	100		>100
10	Aus												33				53				>100
11	Brazil												8				16
12	France																1
13	India												31				26
14	ROW												22				31
15	QBSE													35			85	110	180	360	390	425	490
16	QBO-QBSE		430	459	487	516	561	624	683	739	841	965	1075	1124	1257	1397	1428	1528	1690	1860	1993	2127	2337
17	pcp growth ex QBSE												52%			33%	36%	34%	33%	40%	39%	38%
18	Xero			51		112		210		371		475		593		717		862			1035		1200
19	Xero/Intuit			11%		22%		34%		50%		49%		53%				56%			52%		51%
20	QB TOTAL									1209	1376	1579	1633	1624	1810	2012	2113	2153	2434	2816	2963	3032	3383
21	Gross subs adds															837
22	net adds																438
23	Xero/QB total				6%												31%				31%		31%