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  "documentTitle": "Intuit Inc. (INTU)",
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      "text": "What incremental data Intuit does provide shows (1) decreasing penetration of the payroll offering (using the imperfect data Intuit provides), (2) essentially no growth in average employees per payroll customer, suggesting poor mid-market penetration, (3) average payments volume per customer of just $20K, again highlighting Intuit's micro-business customer base, (4) YoY growth rates that are significantly lower than revenue growth rates, suggesting heavy reliance on price increases that may not be sustainable, and (5) declining growth rates over time, particularly in FY 2023.",
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      "text": "While SBSE has demonstrated impressive revenue growth, underlying customer and volume metrics tell a different story.",
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      "text": "The SBSE Payments Customer And Volume Metrics Intuit Does Disclose Are Not Terribly Impressive",
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