Intuit Reports Mailchimp Revenue Decline in Q3 FY26
Intuit disclosed Mailchimp revenue decline and workforce cuts on its Q3 FY26 earnings call, with growth rates improving when the unit is excluded.
Intuit Discloses Mailchimp Performance Shift
On its Q3 FY26 call on May 20, 2026, Intuit reported Global Business Solutions revenue of $3.3B, up 15%. The figure rose to 17% growth when Mailchimp was excluded. Online Ecosystem revenue reached $2.5B, up 19%, or 22% ex-Mailchimp. Management stated Mailchimp revenue declined year over year. The company announced a 17% workforce reduction affecting roughly 3,100 roles, citing rightsizing in Mailchimp. Restructuring charges of about $300M are expected mostly in the quarter ending July 31, 2026. Intuit has not disclosed a Mailchimp revenue figure since Q4 FY22.
Acquisition Background and Prior Scale
Intuit acquired Mailchimp in 2021 for approximately $12B. At the time the business generated $800M in revenue and grew about 20% a year. In the single quarter Intuit broke out the number, Q4 FY22, Mailchimp recorded $265M, equivalent to roughly $1.06B annualized. According to SaaStr, Intuit now publishes segment growth rates with Mailchimp removed.
User Metrics and Competitive Comparison
EmailToolTester’s January 2026 update showed Mailchimp at 11 million users with no growth over eighteen months. Klaviyo reported Q1 2026 revenue of $358M, up 28%, with 196,000 customers and net revenue retention of 110%. Mailchimp’s headline user count includes businesses on the platform, most of them free.
Product Releases and Market Position
Mailchimp released an ecommerce product in February 2026 and a native conversational analytics agent in May 2026, with integrations to Shopify, WooCommerce, Wix, Canva, ChatGPT and Claude. According to SaaStr, the platforms where new apps are built no longer list Mailchimp. The same source notes Intuit paid partly with a $4.7B term loan for the acquisition.
