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2026-03-31 0000012659 us-gaap:StandbyLettersOfCreditMember 2026-03-31 0000012659 2026-04-01 2026-06-30 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-06089 H&R Block, Inc. (Exact name of registrant as specified in its charter) Missouri 44-0607856 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) One H&R Block Way , Kansas City , Missouri 64105 (Address of principal executive offices, including zip code) ( 816 ) 854-3000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, without par value HRB New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one) Large accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑ The number of shares outstanding of the registrant's Common Stock, without par value, at the close of business on April 30, 2026: 126,760,207 shares. Table of Contents Form 10-Q for the Period ended March 31, 2026 Table of Contents PART I Item 1. Consolidated Statements of Operations and Comprehensive Income Three and nine months ended March 31, 2026 and 2025 1 Consolidated Balance Sheets As of March 31, 2026 and June 30, 2025 2 Consolidated Statements of Cash Flows Nine months ended March 31, 2026 and 2025 3 Consolidated Statements of Stockholders' Equity Three and nine months ended March 31, 2026 and 2025 4 Notes to Consolidated Financial Statements 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3. Quantitative and Qualitative Disclosures About Market Risk 27 Item 4. Controls and Procedures 27 PART II Item 1. Legal Proceedings 28 Item 1A. Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29 Signatures 30 Table of Contents PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME: (unaudited, in 000s, except per share amounts) Three months ended March 31, Nine months ended March 31, 2026 2025 2026 2025 REVENUES: Service revenues $ 2,226,323 $ 2,099,481 $ 2,586,213 $ 2,434,220 Royalty, product and other revenues 171,784 177,623 214,310 215,764 2,398,107 2,277,104 2,800,523 2,649,984 OPERATING EXPENSES: Costs of revenues 1,031,951 969,392 1,645,887 1,553,182 Selling, general and administrative 329,332 329,399 623,722 640,111 Total operating expenses 1,361,283 1,298,791 2,269,609 2,193,293 Other income (expense), net 3,941 4,554 15,077 19,215 Interest expense on borrowings ( 24,307 ) ( 24,686 ) ( 65,087 ) ( 62,285 ) Income from continuing operations before income taxes 1,016,458 958,181 480,904 413,621 Income taxes 167,678 235,253 39,058 104,580 Net income from continuing operations 848,780 722,928 441,846 309,041 Net loss from discontinued operations, net of tax benefits of $ 263 , $ 180 , $ 576 , and $ 811 ( 879 ) ( 598 ) ( 1,930 ) ( 2,707 ) NET INCOME $ 847,901 $ 722,330 $ 439,916 $ 306,334 BASIC EARNINGS PER SHARE: Continuing operations $ 6.66 $ 5.38 $ 3.43 $ 2.26 Discontinued operations — ( 0.01 ) ( 0.02 ) ( 0.02 ) Consolidated $ 6.66 $ 5.37 $ 3.41 $ 2.24 DILUTED EARNINGS PER SHARE: Continuing operations $ 6.61 $ 5.32 $ 3.40 $ 2.23 Discontinued operations ( 0.01 ) ( 0.01 ) ( 0.02 ) ( 0.02 ) Consolidated $ 6.60 $ 5.31 $ 3.38 $ 2.21 DIVIDENDS DECLARED PER SHARE $ 0.42 $ 0.375 $ 1.26 $ 1.125 COMPREHENSIVE INCOME: Net income $ 847,901 $ 722,330 $ 439,916 $ 306,334 Change in foreign currency translation adjustments ( 4,008 ) 445 ( 7,591 ) ( 22,472 ) Other comprehensive income (loss) ( 4,008 ) 445 ( 7,591 ) ( 22,472 ) Comprehensive income $ 843,893 $ 722,775 $ 432,325 $ 283,862 See accompanying notes to consolidated financial statements. H&R Block, Inc. |Q3 FY2026 Form 10-Q 1 Table of Contents CONSOLIDATED BALANCE SHEETS (unaudited, in 000s, except share and per share amounts) As of March 31, 2026 June 30, 2025 ASSETS Cash and cash equivalents $ 867,008 $ 983,277 Cash and cash equivalents - restricted 19,737 19,862 Receivables, less allowance for credit losses of $ 53,638 and $ 55,775 297,636 63,621 Prepaid expenses and other current assets 104,102 95,788 Total current assets 1,288,483 1,162,548 Property and equipment, at cost, less accumulated depreciation and amortization of $ 880,616 and $ 828,744 147,694 135,068 Operating lease right of use assets 522,885 521,215 Intangible assets, net 275,966 259,412 Goodwill 815,620 802,053 Deferred tax assets and income taxes receivable 270,090 317,691 Other noncurrent assets 70,980 65,911 Total assets $ 3,391,718 $ 3,263,898 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES: Accounts payable and accrued expenses $ 303,595 $ 144,046 Accrued salaries, wages and payroll taxes 299,695 107,375 Accrued income taxes and reserves for uncertain tax positions 262,533 296,244 Current portion of long-term debt — 349,893 Operating lease liabilities 209,269 209,203 Deferred revenue and other current liabilities 219,321 191,849 Total current liabilities 1,294,413 1,298,610 Long-term debt 1,490,933 1,143,305 Deferred tax liabilities and reserves for uncertain tax positions 187,707 306,134 Operating lease liabilities 325,561 322,847 Deferred revenue and other noncurrent liabilities 117,476 104,106 Total liabilities 3,416,090 3,175,002 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Common stock, no par, stated value $ 0.01 per share, 800,000,000 shares authorized, shares issued of 156,506,438 and 164,367,434 1,565 1,644 Additional paid-in capital 776,872 766,998 Accumulated other comprehensive loss ( 55,346 ) ( 47,755 ) Retained earnings (deficit) ( 110,471 ) 12,061 Less treasury shares, at cost, of 29,746,662 and 30,420,033 ( 636,992 ) ( 644,052 ) Total stockholders' equity (deficiency) ( 24,372 ) 88,896 Total liabilities and stockholders' equity $ 3,391,718 $ 3,263,898 See accompanying notes to consolidated financial statements. 2 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in 000s) Nine months ended March 31, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 439,916 $ 306,334 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 90,442 87,247 Provision for credit losses 57,523 56,042 Deferred taxes 3,044 ( 12,503 ) Stock-based compensation 22,177 25,420 Changes in assets and liabilities, net of acquisitions: Receivables ( 289,209 ) ( 335,605 ) Prepaid expenses, other current and noncurrent assets ( 17,548 ) ( 7,504 ) Accounts payable, accrued expenses, salaries, wages and payroll taxes 340,925 240,246 Deferred revenue, other current and noncurrent liabilities 41,186 20,684 Income tax receivables, accrued income taxes and income tax reserves ( 99,767 ) 50,049 Other, net ( 1,972 ) ( 1,088 ) Net cash provided by operating activities 586,717 429,322 CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures ( 67,144 ) ( 71,784 ) Payments made for business acquisitions, net of cash acquired ( 55,047 ) ( 35,323 ) Franchise loans funded ( 18,201 ) ( 21,455 ) Payments from franchisees 16,503 11,478 Other, net 1,329 6,194 Net cash used in investing activities ( 122,560 ) ( 110,890 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayments of line of credit borrowings ( 2,375,000 ) ( 1,950,000 ) Proceeds from line of credit borrowings 2,375,000 1,950,000 Repayments of long-term debt ( 350,000 ) — Proceeds from issuance of long-term debt 346,980 — Dividends paid ( 157,766 ) ( 147,136 ) Repurchase of common stock, including shares surrendered ( 412,686 ) ( 436,516 ) Other, net ( 6,009 ) ( 11,854 ) Net cash used in financing activities ( 579,481 ) ( 595,506 ) Effects of exchange rate changes on cash ( 1,070 ) ( 8,429 ) Net decrease in cash and cash equivalents, including restricted balances ( 116,394 ) ( 285,503 ) Cash, cash equivalents and restricted cash, beginning of period 1,003,139 1,075,193 Cash, cash equivalents and restricted cash, end of period $ 886,745 $ 789,690 SUPPLEMENTARY CASH FLOW DATA: Income taxes paid, net (includes payments for purchased investment tax credits) $ 135,460 $ 65,505 Interest paid on borrowings 76,480 63,251 Accrued additions to property and equipment 2,020 2,448 New operating right of use assets and related lease liabilities 182,343 135,372 Accrued dividends payable to common shareholders 53,239 50,194 See accompanying notes to consolidated financial statements. H&R Block, Inc. | Q3 FY2026 Form 10-Q 3 Table of Contents CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (amounts in 000s, except per share amounts) Common Stock Additional Paid-in Capital Accumulated Other Comprehensive Loss (1) Retained Earnings (Deficit) Treasury Stock Total Stockholders’ Equity Shares Amount Shares Amount Balances as of July 1, 2025 164,367 $ 1,644 $ 766,998 $ ( 47,755 ) $ 12,061 ( 30,420 ) $ ( 644,052 ) $ 88,896 Net loss — — — — ( 165,819 ) — — ( 165,819 ) Other comprehensive loss — — — ( 9,308 ) — — — ( 9,308 ) Stock-based compensation — — 6,172 — — — — 6,172 Stock-based awards exercised or vested — — ( 10,551 ) — ( 1,797 ) 579 12,255 ( 93 ) Acquisition of treasury shares (2) — — — — — ( 244 ) ( 12,297 ) ( 12,297 ) Repurchase and retirement of common shares ( 7,861 ) ( 79 ) ( 4,638 ) — ( 399,401 ) — — ( 404,118 ) Cash dividends declared - $ 0.42 per share — — — — ( 54,343 ) — — ( 54,343 ) Balances as of September 30, 2025 156,506 $ 1,565 $ 757,981 $ ( 57,063 ) $ ( 609,299 ) ( 30,085 ) $ ( 644,094 ) $ ( 550,910 ) Net loss — — — — ( 242,166 ) — — ( 242,166 ) Other comprehensive income — — — 5,725 — — — 5,725 Stock-based compensation — — 7,625 — — — — 7,625 Stock-based awards exercised or vested — — 2,925 — ( 160 ) 342 7,328 10,093 Acquisition of treasury shares (2) — — — — — ( 5 ) ( 230 ) ( 230 ) Cash dividends declared - $ 0.42 per share — — — — ( 53,215 ) — — ( 53,215 ) Balances as of December 31, 2025 156,506 $ 1,565 $ 768,531 $ ( 51,338 ) $ ( 904,840 ) ( 29,748 ) $ ( 636,996 ) $ ( 823,078 ) Net income — — — — 847,901 — — 847,901 Other comprehensive loss — — — ( 4,008 ) — — — ( 4,008 ) Stock-based compensation — — 8,379 — — — — 8,379 Stock-based awards exercised or vested — — ( 38 ) — ( 293 ) 3 45 ( 286 ) Acquisition of treasury shares (2) — — — — — ( 1 ) ( 41 ) ( 41 ) Cash dividends declared - $ 0.42 per share — — — — ( 53,239 ) — — ( 53,239 ) Balances as of March 31, 2026 156,506 $ 1,565 $ 776,872 $ ( 55,346 ) $ ( 110,471 ) ( 29,746 ) $ ( 636,992 ) $ ( 24,372 ) 4 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents (amounts in 000s, except per share amounts) Common Stock Additional Paid-in Capital Accumulated Other Comprehensive Loss (1) Retained Earnings (Deficit) Treasury Stock Total Stockholders’ Equity Shares Amount Shares Amount Balances as of July 1, 2024 170,916 $ 1,709 $ 762,583 $ ( 48,845 ) $ 12,654 ( 31,325 ) $ ( 637,507 ) $ 90,594 Net loss — — — — ( 172,576 ) — — ( 172,576 ) Other comprehensive income — — — 6,117 — — — 6,117 Stock-based compensation — — 7,463 — — — — 7,463 Stock-based awards exercised or vested — — ( 23,990 ) — ( 2,611 ) 1,319 26,848 247 Acquisition of treasury shares (2) — — — — — ( 567 ) ( 35,882 ) ( 35,882 ) Repurchase and retirement of common shares ( 3,301 ) ( 33 ) ( 1,980 ) — ( 209,708 ) — — ( 211,721 ) Cash dividends declared - $ 0.375 per share — — — — ( 52,307 ) — — ( 52,307 ) Balances as of September 30, 2024 167,615 $ 1,676 $ 744,076 $ ( 42,728 ) $ ( 424,548 ) ( 30,573 ) $ ( 646,541 ) $ ( 368,065 ) Net loss — — — — ( 243,420 ) — — ( 243,420 ) Other comprehensive loss — — — ( 29,034 ) — — — ( 29,034 ) Stock-based compensation — — 9,156 — — — — 9,156 Stock-based awards exercised or vested — — 810 — ( 245 ) 54 1,144 1,709 Acquisition of treasury shares (2) — — — — — ( 4 ) ( 253 ) ( 253 ) Repurchase and retirement of common shares ( 3,248 ) ( 32 ) ( 1,949 ) — ( 190,396 ) — — ( 192,377 ) Cash dividends declared - $ 0.375 per share — — — — ( 50,176 ) — — ( 50,176 ) Balances as of December 31, 2024 164,367 $ 1,644 $ 752,093 $ ( 71,762 ) $ ( 908,785 ) ( 30,523 ) $ ( 645,650 ) $ ( 872,460 ) Net income — — — — 722,330 — — 722,330 Other comprehensive income — — — 445 — — — 445 Stock-based compensation — — 7,424 — — — — 7,424 Stock-based awards exercised or vested — — ( 696 ) — ( 260 ) 41 856 ( 100 ) Acquisition of treasury shares (2) — — — — — ( 6 ) ( 283 ) ( 283 ) Cash dividends declared - $ 0.375 per share — — — — ( 50,194 ) — — ( 50,194 ) Balances as of March 31, 2025 164,367 $ 1,644 $ 758,821 $ ( 71,317 ) $ ( 236,909 ) ( 30,488 ) $ ( 645,077 ) $ ( 192,838 ) (1) The balance of our accumulated other comprehensive loss consists of foreign currency translation adjustments. (2) Represents shares swapped or surrendered to us in connection with the vesting or exercise of stock-based awards. See accompanying notes to consolidated financial statements. H&R Block, Inc. |Q3 FY2026 Form 10-Q 5 Table of Contents NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION – The consolidated balance sheets as of March 31, 2026 and June 30, 2025, the consolidated statements of operations and comprehensive income for the three and nine months ended March 31, 2026 and 2025, the consolidated statements of cash flows for the nine months ended March 31, 2026 and 2025, and the consolidated statements of stockholders' equity for the three and nine months ended March 31, 2026 and 2025 have been prepared by the Company, without audit. In the opinion of management, all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position, results of operations, and cash flows as of March 31, 2026 and 2025 and for all periods presented, have been made. "H&R Block," "the Company," "we," "our," and "us" are used interchangeably to refer to H&R Block, Inc., to H&R Block, Inc. and its subsidiaries, or to H&R Block, Inc.'s operating subsidiaries, as appropriate to the context. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our June 30, 2025 Annual Report on Form 10-K. All amounts presented herein as of June 30, 2025 or for the year then ended are derived from our Annual Report on Form 10-K. MANAGEMENT ESTIMATES – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates, assumptions and judgments are applied in the evaluation of contingent losses associated with pending claims and litigation, reserves for uncertain tax positions, and fair value of reporting units. Estimates have been prepared based on the best information available as of each balance sheet date. As such, actual results could differ materially from those estimates. SEASONALITY OF BUSINESS – Our operating revenues are seasonal in nature with peak revenues typically occurring in the months of February through April. Therefore, results for interim periods are not indicative of results to be expected for the full year. DISCONTINUED OPERATIONS – Our discontinued operations include the results of operations of Sand Canyon Corporation, previously known as Option One Mortgage Corporation, which exited its mortgage business in fiscal year 2008. 6 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents NOTE 2: REVENUE RECOGNITION The majority of our revenues are from our United States (U.S.) tax services business. The following table disaggregates our U.S. revenues by major service line, with revenues from our international tax services businesses and from Wave included as separate lines: (in 000s) Three months ended March 31, Nine months ended March 31, 2026 2025 2026 2025 Revenues: U.S. assisted tax preparation $ 1,742,135 $ 1,635,877 $ 1,846,698 $ 1,727,220 U.S. royalties 128,182 133,961 139,139 143,312 U.S. DIY tax preparation 215,245 214,666 235,797 231,646 Refund Transfers 119,935 113,732 121,416 115,229 Peace of Mind® Extended Service Plan 14,347 15,625 54,087 54,867 Tax Identity Shield® 8,485 7,025 16,851 14,947 Emerald Card® and Spruce SM 39,590 40,195 56,566 59,169 Interest and fee income on Emerald Advance® 15,198 14,286 28,644 26,594 International 70,119 60,438 170,498 157,104 Wave 29,871 26,717 89,506 79,681 Other 15,000 14,582 41,321 40,215 Total revenues $ 2,398,107 $ 2,277,104 $ 2,800,523 $ 2,649,984 Changes in the balances of deferred revenue and wages for our Peace of Mind® Extended Service Plan (POM) are as follows: (in 000s) POM Deferred Revenue Deferred Wages Nine months ended March 31, 2026 2025 2026 2025 Balance, beginning of the period $ 149,302 $ 156,610 $ 19,884 $ 20,212 Amounts deferred 83,409 70,536 9,355 7,222 Amounts recognized on previous deferrals ( 61,743 ) ( 64,885 ) ( 7,925 ) ( 8,396 ) Balance, end of the period $ 170,968 $ 162,261 $ 21,314 $ 19,038 As of March 31, 2026, deferred revenue related to POM was $ 171.0 million. W e expect that $ 91.9 million will be recognized over the next twelve months , while the remaining balance will be recognized over the following five years . As of March 31, 2026 and 2025, Tax Identity Shield® (TIS) deferred revenue was $ 37.6 million and $ 31.2 million, respectively. Deferred revenue related to TIS was $ 22.6 million and $ 21.4 million as of June 30, 2025 and 2024, respectively. All deferred revenue related to TIS will be recognized by April 2027 . NOTE 3: EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY EARNINGS PER SHARE – Basic and diluted earnings (loss) per share is computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income (loss) from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period. Diluted earnings per share excludes the impact of shares of common stock issuable upon the lapse of certain restrictions or the exercise of options to purchase 1.3 million and 0.8 million shares for the three and nine months ended March 31, 2026, H&R Block, Inc. |Q3 FY2026 Form 10-Q 7 Table of Contents respectively, and 0.6 million and 0.5 million shares for the three and nine months ended March 31, 2025, respectively, as the effect would be antidilutive. The computations of basic and diluted earnings per share from continuing operations are as follows: (in 000s, except per share amounts) Three months ended March 31, Nine months ended March 31, 2026 2025 2026 2025 Net income from continuing operations attributable to shareholders $ 848,780 $ 722,928 $ 441,846 $ 309,041 Amounts allocated to participating securities ( 4,250 ) ( 3,442 ) ( 2,193 ) ( 1,408 ) Net income from continuing operations attributable to common shareholders $ 844,530 $ 719,486 $ 439,653 $ 307,633 Basic weighted average common shares 126,760 133,853 128,248 136,207 Potential dilutive shares 1,053 1,476 1,241 1,737 Dilutive weighted average common shares 127,813 135,329 129,489 137,944 Earnings per share from continuing operations attributable to common shareholders: Basic $ 6.66 $ 5.38 $ 3.43 $ 2.26 Diluted 6.61 5.32 3.40 2.23 The decrease in the weighted average shares outstanding is due to share repurchases completed in the current and prior fiscal years. STOCK-BASED COMPENSATION – We granted 1.0 million and 1.1 million shares, including adjustments for performance achievement and dividend equivalents, under our stock-based compensation plans during the nine months ended March 31, 2026 and 2025, respectively. Stock-based compensation expense of our continuing operations totaled $ 8.4 million and $ 22.2 million for the three and nine months ended March 31, 2026, respectively, and $ 7.5 million and $ 25.4 million for the three and nine months ended March 31, 2025, respectively. As of March 31, 2026, unrecognized compensation cost for nonvested shares and units totaled $ 55.3 million. NOTE 4: RECEIVABLES Receivables, net of their related allowance, consist of the following: (in 000s) As of March 31, 2026 June 30, 2025 Short-term Long-term Short-term Long-term Loans to franchisees $ 16,438 $ 11,349 $ 7,386 $ 16,402 Receivables for U.S. assisted and DIY tax preparation and related fees 179,870 11,250 15,896 6,361 H&R Block's Instant Refund® receivables 17,294 789 2,243 939 Emerald Advance® 20,101 24,219 13,899 22,816 Software receivables from retailers 7,313 — 2,582 — Royalties and other receivables from franchisees 33,671 — 4,414 — Wave payment processing receivables 6,274 — 1,533 — Other 16,675 597 15,668 498 Total $ 297,636 $ 48,204 $ 63,621 $ 47,016 8 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents Balances presented above as short-term are included in receivables, while the long-term portions are included in other noncurrent assets in the consolidated balance sheets. LOANS TO FRANCHISEES – Franchisee loan balances consist of term loans made primarily to finance the purchase of franchises and revolving lines of credit primarily for the purpose of funding working capital needs. Loans with a principal balance more than 90 days past due or on non-accrual status were $3.0 million and $3.1 million as of March 31, 2026 and June 30, 2025, respectively. H&R BLOCK'S INSTANT REFUND ® – H&R Block's Instant Refund® amounts are generally received from the Canada Revenue Agency within 60 days of filing the client's return, with the remaining balance collectible from the client. We review the credit quality of our Instant Refund receivables based on pools, which are segregated by the tax return year of origination, with older years being deemed more unlikely to be repaid. We establish an allowance for credit losses at an amount that we believe reflects the receivable at net realizable value. In December of each year, we charge-off the receivables and the related allowance to an amount we believe represents the net realizable value. B alances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by tax return year of origination, as of March 31, 2026 are as foll ows: (in 000s) Tax return year of origination Balance More Than 60 Days Past Due 2025 $ 17,482 $ 79 2024 and prior 1,163 1,163 18,645 $ 1,242 Allowance ( 562 ) Net balance $ 18,083 EMERALD ADVANCE ® – We review the credit quality of our purchased participation interests in Emerald Advance® (EA) receivables based on pools, which are segregated by the fiscal year of origination, with older years being deemed more unlikely to be repaid. We establish an allowance for credit losses at an amount that we believe reflects the receivable at net realizable value. Typically, in December of each year, we charge-off the receivables and the related allowance for EAs to an amount we believe represents the net realizable value. Balances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by fiscal year of origination, as of March 31, 2026 are as follows: (in 000s) Fiscal year of origination Balance Non-Accrual 2026 $ 35,495 $ — 2025 and prior 26,403 26,403 61,898 $ 26,403 Allowance ( 17,578 ) Net balance $ 44,320 H&R Block, Inc. |Q3 FY2026 Form 10-Q 9 Table of Contents ALLOWANCE FOR CREDIT LOSSES – Activity in the allowance for credit losses for EA and all other short-term and long-term receivables for the nine months ended March 31, 2026 and 2025 is as follows: (in 000s) EAs All Other Total Balances as of July 1, 2025 $ 19,663 $ 45,156 $ 64,819 Provision for credit losses 17,578 39,945 57,523 Charge-offs, recoveries and other ( 19,663 ) ( 44,803 ) ( 64,466 ) Balances as of March 31, 2026 $ 17,578 $ 40,298 $ 57,876 Balances as of July 1, 2024 $ 33,536 $ 45,327 $ 78,863 Provision for credit losses 19,371 36,671 56,042 Charge-offs, recoveries and other ( 33,536 ) ( 45,864 ) ( 79,400 ) Balances as of March 31, 2025 $ 19,371 $ 36,134 $ 55,505 For the nine months ended March 31, 2026, there were $19.7 million of gross charge-offs related to EAs which were originated in fiscal year 2025. NOTE 5: GOODWILL AND INTANGIBLE ASSETS Changes in the carrying amount of goodwill for the nine months ended March 31, 2026 are as follows: (in 000s) Goodwill Accumulated Impairment Losses Net Balances as of July 1, 2025 $ 940,350 $ ( 138,297 ) $ 802,053 Acquisitions (1) 19,055 — 19,055 Disposals and foreign currency changes, net ( 5,488 ) — ( 5,488 ) Impairments — — — Balances as of March 31, 2026 $ 953,917 $ ( 138,297 ) $ 815,620 (1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting. In conjunction with our annual impairment test, we tested goodwill for impairment during the quarter and did not identify any impairment. 10 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents Components of intangible assets are as follows: (in 000s) Gross Carrying Amount Accumulated Amortization Net As of March 31, 2026: Reacquired franchise rights $ 431,555 $ ( 254,474 ) $ 177,081 Customer relationships 386,141 ( 305,246 ) 80,895 Internally-developed software 121,671 ( 117,831 ) 3,840 Noncompete agreements 24,476 ( 20,923 ) 3,553 Purchased technology 68,100 ( 59,388 ) 8,712 Trade name 5,800 ( 3,915 ) 1,885 $ 1,037,743 $ ( 761,777 ) $ 275,966 As of June 30, 2025: Reacquired franchise rights $ 415,700 $ ( 243,330 ) $ 172,370 Customer relationships 354,107 ( 287,067 ) 67,040 Internally-developed software 119,959 ( 117,604 ) 2,355 Noncompete agreements 23,070 ( 20,188 ) 2,882 Purchased technology 68,100 ( 55,655 ) 12,445 Trade name 5,800 ( 3,480 ) 2,320 $ 986,736 $ ( 727,324 ) $ 259,412 We made payments to acquire businesses totaling $ 55.0 million and $ 35.3 million during the nine months ended March 31, 2026 and 2025, respectively. The amounts and weighted-average lives of intangible assets acquired during the nine months e nded March 31, 2026, including amounts capitalized related to internally-developed software, a re as follows: (dollars in 000s) Amount Weighted-Average Life (in years) Customer relationships $ 32,165 5 Reacquired franchise rights 15,975 6 Internally-developed software 1,770 3 Noncompete agreements 1,437 5 Total $ 51,347 5 Amortization of intangible assets for the three and nine months ended March 31, 2026 was $ 12.3 million and $ 34.7 million respectively, compared to $ 11.3 million and $ 36.3 million for the three and nine months ended March 31, 2025. Estimated amortization of intangible assets for fiscal years ending June 30, 2026, 2027, 2028, 2029, and 2030 is $ 47.2 million, $ 44.9 million, $ 36.5 million, $ 27.6 million and $ 17.6 million, respectively. H&R Block, Inc. |Q3 FY2026 Form 10-Q 11 Table of Contents NOTE 6: LONG-TERM DEBT The components of long-term debt are as follows: (in 000s) As of March 31, 2026 June 30, 2025 Senior Notes, 5.250 %, due October 2025 $ — $ 350,000 Senior Notes, 2.500 %, due July 2028 500,000 500,000 Senior Notes, 3.875 %, due August 2030 650,000 650,000 Senior Notes, 5.375%, due September 2032 350,000 — Debt issuance costs and discounts ( 9,067 ) ( 6,802 ) Total long-term debt 1,490,933 1,493,198 Less: Current portion — ( 349,893 ) Long-term portion $ 1,490,933 $ 1,143,305 Estimated fair value of long-term debt $ 1,422,000 $ 1,437,000 On August 26, 2025, we issued $ 350.0 million of 5.375% Senior Notes due September 15, 2032 (2032 Senior Notes). The 2032 Senior Notes are not redeemable by the bondholders prior to maturity, although we have the right to redeem some or all of these notes at any time, at specified redemption prices. The net proceeds from the 2032 Senior Notes were used for general corporate purposes, which includes, among other uses, the redemption of the $ 350.0 million in principal outstanding of our 5.250% notes due October 2025 (2025 Senior Notes). We redeemed our 2025 Senior Notes at 100% of the principal amount, plus accrued and unpaid interest, on September 19, 2025. UNSECURED COMMITTED LINE OF CREDIT – On July 11, 2025, we entered into a Fifth Amended and Restated Credit and Guarantee Agreement (2025 CLOC), which amended and restated our Fourth Amended and Restated Credit and Guarantee Agreement, extended the scheduled maturity date to July 11, 2030, maintained the aggregate principal amount of $1.5 billion, and revised the interest rate table. All other material terms remain substantially unchanged from our previous CLOC. The 2025 CLOC provides for an unsecured senior revolving credit facility in the aggregate principal amount of $ 1.5 billion, which includes a $ 175.0 million sublimit for swingline loans and a $ 50.0 million sublimit for standby letters of credit. We may request increases in the aggregate principal amount of the revolving credit facility of up to $ 500.0 million, subject to obtaining commitments from lenders and meeting certain other conditions. The 2025 CLOC will mature on July 11, 2030, unless extended pursuant to the terms of the 2025 CLOC, at which time all outstanding amounts thereunder will be due and payable. Our 2025 CLOC includes an annual facility fee, which will vary depending on our then current credit ratings. The 2025 CLOC is subject to various conditions, triggers, events or occurrences that could result in earlier termination and contains customary representations, warranties, covenants and events of default, including, without limitation: (1) a covenant requiring the Company to maintain a debt-to-EBITDA ratio, as defined by the 2025 CLOC agreement, calculated on a consolidated basis of no greater than (a) 3.50 to 1.00 as of the last day of each fiscal quarter ending on March 31, June 30, and September 30 of each year and (b) 4.50 to 1.00 as of the last day of each fiscal quarter ending on December 31 of each year; (2) a covenant requiring us to maintain an interest coverage ratio (EBITDA-to-interest expense) calculated on a consolidated basis of not less than 2.50 to 1.00 as of the last date of any fiscal quarter; and (3) covenants restricting our ability to incur certain additional debt, incur liens, merge or consolidate with other companies, sell or dispose of assets (including equity interests), liquidate or dissolve, engage in certain transactions with affiliates or enter into certain restrictive agreements. The 2025 CLOC includes provisions for an equity cure which could potentially allow us to independently cure certain defaults. Proceeds under the 2025 CLOC may be used for working capital needs or for other general corporate pu rposes. We were in compliance with these requirements as of March 31, 2026. We had no outstanding balance under our CLOC and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of March 31, 2026 . 12 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents NOTE 7: INCOME TAXES We file a consolidated U.S. federal income tax return with the Internal Revenue Service (IRS) and also file income tax returns in various state, local, and foreign jurisdictions. On July 4, 2025, H.R. 1 was signed into law. The legislation did not have a material impact on our income tax expense for the nine months ended March 31, 2026, and we do not expect it to materially impact our effective income tax rate for the fiscal year ending June 30, 2026. Our effective income tax rate on continuing operations, including the impact of discrete tax items, was 8.1 % for the nine months ended March 31, 2026, compared to 25.3 % for the nine months ended March 31, 2025. Discrete tax items decreased the effective tax rate by 16.1% for the nine months ended March 31, 2026, and increased the effective tax rate by 0.9% for the nine months ended March 31, 2025. We recorded a discrete income tax benefit of $77.6 million for the nine months ended March 31, 2026, compared to a discrete income tax expense of $3.8 million for the nine months ended March 31, 2025. The discrete income tax benefit recognized during the current year period was primarily attributable to the settlement of an IRS examination of our 2020 U.S. federal income tax return and related carryback claims to the 2015 through 2018 tax years. The closure of the IRS examination resulted in a discrete income tax benefit of $84.1 million, which was recorded in income tax expense. The benefit primarily reflects the release of the related unrecognized tax benefits, including reversal of accrued interest through the date of settlement. Due to the seasonality of our business, the impact of discrete tax items on our effective income tax rate for the nine months ended March 31, 2026 is greater than the expected impact on our projected full-year effective income tax rate. Changes in gross unrecognized tax benefits for the nine months ended March 31, 2026 are as follows: (in 000s) Balances as of July 1, 2025 $ 266,548 Additions based on tax positions related to prior years 528 Reductions based on tax positions related to prior years (2,998) Additions based on tax positions related to the current year 16,998 Reductions related to settlements with tax authorities (122,159) Expiration of statute of limitations (1,182) Balance as of March 31, 2026 $ 157,735 NOTE 8: COMMITMENTS AND CONTINGENCIES Our U.S. and Canadian businesses offer our 100% accuracy guarantee. Assisted tax returns are covered by our 100% accuracy guarantee, whereby we will reimburse a client for penalties and interest attributable to an H&R Block error on a return. Similarly, DIY tax returns are covered by our 100% accuracy guarantee, whereby we will reimburse a client (up to a maximum of $ 10,000 in the U.S.) if our software makes an arithmetic error that results in payment of penalties and/or interest to the respective taxing authority that a client would otherwise not have been required to pay. Our liability related to estimated losses under the 100% accuracy guarantee was $ 12.4 million and $ 11.4 million as of March 31, 2026 and June 30, 2025, respectively. The short-term and long-term portions of this liability are included in deferred revenue and other liabilities in the consolidated balance sheets. Liabilities related to acquisitions for (1) estimated contingent consideration based on expected financial performance of the acquired business and economic conditions at the time of acquisition and (2) estimated accrued compensation related to continued employment of key employees were $ 28.0 million and $ 29.6 million as of March 31, 2026 and June 30, 2025 respectively, with amounts recorded in deferred revenue and other liabilities. Should actual results differ from our estimates, future payments made will differ from the above estimate and any differences will be recorded in results from continuing operations. H&R Block, Inc. |Q3 FY2026 Form 10-Q 13 Table of Contents We have contractual commitments to fund certain franchises with approved short-term lines of credit for the purpose of meeting their seasonal working capital needs. Our total obligation under these lines of credit was $ 22.6 million at March 31, 2026, and net of amounts drawn and outstanding, our remaining commitment to fund totaled $ 11.2 million. Emerald Advance® term loans are originated by Pathward® N.A. (Pathward). We purchase participation interests, at par, in all EAs originated by Pathward in accordance with our participation agreement. Our participation interest varies by jurisdiction. For the nine months ended March 31, 2026, the principal balance of purchased participation interests for the current year totaled $283.7 million, which represents 87% of total EA volume originated by Pathward. Refund Advance loans are originated by Pathward and offered to certain assisted U.S. tax preparation clients, based on client eligibility as determined by Pathward. We pay fees primarily based on loan size and customer type. We have provided a guarantee up to $ 18.0 million related to certain loans to clients prior to the IRS accepting electronic filing. At March 31, 2026 and June 30, 2025, we accrued an estimated liability of $ 2.2 million related to this guarantee. NOTE 9: LITIGATION AND OTHER RELATED CONTINGENCIES We are a defendant in numerous litigation and arbitration matters, arising both in the ordinary course of business and otherwise, including as described below. The matters described below are not all of the lawsuits or arbitrations to which we are subject. In some of the matters, very large or indeterminate amounts, including punitive damages, may be sought. U.S. jurisdictions permit considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding reasonably possible verdicts in the jurisdiction for similar matters. We believe that the monetary relief which may be specified in a lawsuit or claim bears little relevance to its merits or disposition value due to this variability in pleadings and our experience in handling and resolving numerous claims over an extended period of time. The outcome of a matter and the amount or range of potential loss at particular points in time may be difficult to ascertain. Among other things, uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how courts and arbitrators will apply the law. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will view the relevant evidence and applicable law. In addition to litigation and arbitration matters, we are also subject to other loss contingencies arising out of our business activities, including as described below. We accrue liabilities for litigation, arbitration and other related loss contingencies and any related settlements when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. If a range of loss is estimated, and some amount within that range appears to be a better estimate than any other amount within that range, then that amount is accrued. If no amount within the range can be identified as a better estimate than any other amount, we accrue the minimum amount in the range. For such matters where a loss is believed to be reasonably possible, but not probable, or the loss cannot be reasonably estimated, no accrual has been made. It is possible that such matters could require us to pay damages or make other expenditures or accrue liabilities in amounts that could not be reasonably estimated as of March 31, 2026. While the potential future liabilities could be material in the particular quarterly or annual periods in which they are recorded, based on information currently known, we do not believe any such liabilities are likely to have a material adverse effect on our business and our consolidated financial position, results of operations, and cash flows. Our accrued liabilities were $ 13.3 million and $ 6.2 million as of March 31, 2026 and June 30, 2025, respectively. Our estimate of the aggregate range of reasonably possible losses includes (1) matters where a liability has been accrued and there is a reasonably possible loss in excess of the amount accrued for that liability, and (2) matters where a liability has not been accrued but we believe a loss is reasonably possible. This aggregate range only 14 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents represents those losses as to which we are currently able to estimate a reasonably possible loss or range of loss. It does not represent our maximum loss exposure. Matters for which we are not currently able to estimate the reasonably possible loss or range of loss are not included in this range. We are often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the reasonably possible loss or range of loss, such as precise information about the amount of damages or other remedies being asserted, the defenses to the claims being asserted, discovery from other parties and investigation of factual allegations, rulings by courts or arbitrators on motions or appeals, analyses by experts, or the status or terms of any settlement negotiations. The estimated range of reasonably possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions, as well as known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. As of March 31, 2026, we believe the estimate of the aggregate range of reasonably possible losses in excess of amounts accrued, where the range of loss can be estimated, is not material. At the end of each reporting period, we review relevant information with respect to litigation, arbitration and other related loss contingencies and update our accruals, disclosures, and estimates of reasonably possible loss or range of loss based on such reviews. Costs incurred with defending matters are expensed as incurred. Any receivable for insurance recoveries is recorded separately from the corresponding liability, and only if recovery is determined to be probable and reasonably estimable. We believe we have meritorious defenses to the claims asserted in the various matters described in this note, and we intend to defend them vigorously. The amounts claimed in the matters are substantial, however, and there can be no assurances as to their outcomes. In the event of unfavorable outcomes, it could require modifications to our operations; in addition, the amounts that may be required to be paid to discharge or settle the matters could be substantial and could have a material adverse impact on our business and our consolidated financial position, results of operations, and cash flows. We have received and are responding to certain governmental inquiries, class actions and mass arbitrations relating to the IRS Free File Program and other aspects of our DIY tax preparation services, including the use of pixels. An accrual related to these matters is included in our loss contingency accrual. We are from time to time a party to litigation, arbitration and other loss contingencies not discussed herein arising out of our business operations. These matters may include actions by state attorneys general, other state regulators, federal regulators, individual plaintiffs, and cases in which plaintiffs seek to represent others who may be similarly situated. While we cannot provide assurance that we will ultimately prevail in each instance, we believe the amount, if any, we are required to pay to discharge or settle these other matters will not have a material adverse impact on our business and our consolidated financial position, results of operations, and cash flows. NOTE 10: SEGMENT INFORMATION We provide assisted and DIY tax preparation solutions through multiple channels (including in-person, online and mobile applications, virtual, and desktop software) and distribute H&R Block-branded services and products, including those of our bank partners, to the general public primarily in the U.S., Canada and Australia. Tax returns are prepared by H&R Block tax professionals in one of our company-owned or franchise offices, virtually or via an online review, or they are prepared and filed by our clients through our DIY tax solutions. We also offer small business solutions through our company-owned and franchise offices (including in-person, online and virtual) and online through Wave. We report a single segment that includes all of our continuing operations. The majority of our revenues are from our U.S. tax services business. H&R Block, Inc. |Q3 FY2026 Form 10-Q 15 Table of Contents The Company's Chief Operating Decision Maker (CODM) is our chief executive officer, who regularly reviews consolidated financial information to evaluate financial performance and allocate resources. Specifically, the CODM uses revenues, operating expenses, net income and EBITDA at a consolidated level, as key financial metrics in deciding how to reinvest to grow the business. These financial metrics are used by the CODM to make operating decisions and identify growth opportunities. The measure of segment assets is total consolidated assets as presented on the consolidated balance sheet. The following table presents the significant revenue and expense categories included in the segment's net income from continuing operations as regularly provided to the CODM on a consolidated basis and then reconciled to net income for the three and nine months ended March 31, 2026 and 2025. 16 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents Consolidated – Financial Results (in 000s, except per share amounts) Three months ended March 31, Nine months ended March 31, 2026 2025 2026 2025 Revenues: U.S. tax preparation and related services: Assisted tax preparation $ 1,742,135 $ 1,635,877 $ 1,846,698 $ 1,727,220 Royalties 128,182 133,961 139,139 143,312 DIY tax preparation 215,245 214,666 235,797 231,646 Refund Transfers 119,935 113,732 121,416 115,229 Peace of Mind® Extended Service Plan 14,347 15,625 54,087 54,867 Tax Identity Shield® 8,485 7,025 16,851 14,947 Emerald Card® and Spruce SM 39,590 40,195 56,566 59,169 Interest and fee income on Emerald Advance® 15,198 14,286 28,644 26,594 International 70,119 60,438 170,498 157,104 Wave 29,871 26,717 89,506 79,681 Other 15,000 14,582 41,321 40,215 Total revenues $ 2,398,107 $ 2,277,104 $ 2,800,523 $ 2,649,984 Compensation and benefits: Field wages 577,513 532,916 741,405 682,575 Other wages 78,703 74,621 230,987 230,687 Benefits and other compensation 118,151 111,575 194,802 188,731 774,367 719,112 1,167,194 1,101,993 Occupancy 127,312 119,709 339,700 326,026 Marketing and advertising 185,388 196,667 208,725 221,502 Depreciation and amortization 31,519 29,221 90,442 87,247 Bad debt 39,806 40,479 63,827 62,625 Other 202,891 193,603 399,721 393,900 Total operating expenses 1,361,283 1,298,791 2,269,609 2,193,293 Other income (expense), net 3,941 4,554 15,077 19,215 Interest expense on borrowings ( 24,307 ) ( 24,686 ) ( 65,087 ) ( 62,285 ) Income from continuing operations before income taxes 1,016,458 958,181 480,904 413,621 Income taxes 167,678 235,253 39,058 104,580 Segment net income from continuing operations 848,780 722,928 441,846 309,041 Reconciliation of segment profit: Reconciling items: Net loss from discontinued operations ( 879 ) ( 598 ) ( 1,930 ) ( 2,707 ) Net income $ 847,901 $ 722,330 $ 439,916 $ 306,334 H&R Block, Inc. |Q3 FY2026 Form 10-Q 17 Table of Contents ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RECENT DEVELOPMENTS On July 11, 2025, we entered into a Fifth Amended and Restated Credit and Guarantee Agreement (2025 CLOC), which amended and restated our Fourth Amended and Restated Credit and Guarantee Agreement, extended the scheduled maturity date to July 11, 2030, maintained the aggregate principal amount of $1.5 billion, and revised the interest rate table. All other material terms remain substantially unchanged from the Fourth Amended and Restated Credit and Guarantee Agreement. See our Current Report on Form 8-K filed on July 15, 2025 for additional information. On August 7, 2025, Jeffrey J. Jones II notified the Board of Directors of the Company of his intention to retire as President and Chief Executive Officer of the Company, effective as of December 31, 2025. Mr. Jones retired from the Board of Directors, effective on December 31, 2025. On August 8, 2025, the Board appointed Curtis A. Campbell, the Company's President, Global Consumer Tax and Chief Product Officer, to succeed Mr. Jones as President and Chief Executive Officer, effective immediately upon Mr. Jones’ retirement. See our Current Report on Form 8-K filed on August 11, 2025 for more information. On August 13, 2025, Kellie J. Logerwell notified the Company of her intention to retire as the Company’s Vice President and Chief Accounting Officer, effective as of October 24, 2025. Ms. Logerwell was succeeded as principal accounting officer by April M. Wasleski, who most-recently served as the Company’s Director of Accounting and whose appointment as Vice President and Chief Accounting Officer became effective October 24, 2025. See our Current Report on Form 8-K filed on August 15, 2025 for more information. On August 26, 2025, we issued $350.0 million of 5.375% Senior Notes due September 15, 2032 (2032 Senior Notes). The 2032 Senior Notes are not redeemable by the bondholders prior to maturity, although we have the right to redeem some or all of these notes at any time, at specified redemption prices. The net proceeds from the 2032 Senior Notes were used for general corporate purposes, which includes, among other uses, the redemption of the $350.0 million in principal outstanding of our 5.250% notes due October 2025 (2025 Senior Notes). We redeemed our 2025 Senior Notes at 100% of the principal amount, plus accrued and unpaid interest, on September 19, 2025. RESULTS OF OPERATIONS Our subsidiaries provide assisted and do-it-yourself (DIY) tax preparation solutions through multiple channels (including in-person, online and mobile applications, virtual, and desktop software) and distribute H&R Block-branded products and services, including those of our bank partners, to the general public primarily in the United States (U.S.), Canada and Australia. Tax returns are either prepared by H&R Block tax professionals in one of our 6,802 company-owned or 1,814 franchise offices (as of March 31, 2026), virtually or via an online review or prepared and filed by our clients through our DIY tax solutions. We also offer small business solutions through our company-owned and franchise offices (including in-person, online and virtual) and online through Wave. We report a single segment that includes all of our continuing operations. 18 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents Consolidated – Financial Results (in 000s, except per share amounts) Three months ended March 31, 2026 2025 $ Change % Change Revenues: U.S. tax preparation and related services: Assisted tax preparation $ 1,742,135 $ 1,635,877 $ 106,258 6.5 % Royalties 128,182 133,961 (5,779) (4.3) % DIY tax preparation 215,245 214,666 579 0.3 % Refund Transfers 119,935 113,732 6,203 5.5 % Peace of Mind® Extended Service Plan 14,347 15,625 (1,278) (8.2) % Tax Identity Shield® 8,485 7,025 1,460 20.8 % Other 15,000 14,582 418 2.9 % Total U.S. tax preparation and related services 2,243,329 2,135,468 107,861 5.1 % Financial services: Emerald Card® and Spruce SM 39,590 40,195 (605) (1.5) % Interest and fee income on Emerald Advance® 15,198 14,286 912 6.4 % Total financial services 54,788 54,481 307 0.6 % International 70,119 60,438 9,681 16.0 % Wave 29,871 26,717 3,154 11.8 % Total revenues $ 2,398,107 $ 2,277,104 $ 121,003 5.3 % Compensation and benefits: Field wages 577,513 532,916 (44,597) (8.4) % Other wages 78,703 74,621 (4,082) (5.5) % Benefits and other compensation 118,151 111,575 (6,576) (5.9) % 774,367 719,112 (55,255) (7.7) % Occupancy 127,312 119,709 (7,603) (6.4) % Marketing and advertising 185,388 196,667 11,279 5.7 % Depreciation and amortization 31,519 29,221 (2,298) (7.9) % Bad debt 39,806 40,479 673 1.7 % Other 202,891 193,603 (9,288) (4.8) % Total operating expenses 1,361,283 1,298,791 (62,492) (4.8) % Other income (expense), net 3,941 4,554 (613) (13.5) % Interest expense on borrowings (24,307) (24,686) 379 1.5 % Pretax income 1,016,458 958,181 58,277 6.1 % Income taxes 167,678 235,253 67,575 28.7 % Net income from continuing operations 848,780 722,928 125,852 17.4 % Net loss from discontinued operations (879) (598) (281) (47.0) % Net income $ 847,901 $ 722,330 $ 125,571 17.4 % DILUTED EARNINGS PER SHARE Continuing operations $ 6.61 $ 5.32 $ 1.29 24.2 % Discontinued operations (0.01) (0.01) — — % Consolidated $ 6.60 $ 5.31 $ 1.29 24.3 % Adjusted diluted EPS (1) $ 6.02 $ 5.38 $ 0.64 11.9 % EBITDA (1) $ 1,072,284 $ 1,012,088 $ 60,196 5.9 % (1) All non-GAAP measures are results from continuing operations. See " Non-GAAP Financial Information " at the end of this item for a reconciliation of non-GAAP measures. H&R Block, Inc. |Q3 FY2026 Form 10-Q 19 Table of Contents Three months ended March 31, 2026 compared to March 31, 2025 Revenues increased $121.0 million, or 5.3%, from the prior year. U.S. assisted tax preparation revenues increased $106.3 million, or 6.5%, primarily due to a 3.8% increase in net average charge combined with a 2.6% increase in company-owned tax return volumes in the current year. U.S. royalties revenue decreased $5.8 million, or 4.3%, due to lower franchise tax return volumes, which was primarily driven by franchise acquisitions. During the year we purchased franchise offices which results in increasing tax preparation revenues and decreasing royalties as the revenues and returns become company-owned after the acquisition. For the three months ended March 31, 2026 our total assisted tax return volume, which includes both company-owned and franchise offices, increased 0.4% from the prior year. U.S. DIY tax preparation revenues increased $0.6 million, or 0.3%, largely due to a 3.5% increase in online paid net average charge, offset by a 3.0% decrease in online paid volume. Refund Transfer revenues increased $6.2 million, or 5.5%, primarily due to an increase in Refund Transfer volume. International tax preparation revenues increased $9.7 million, or 16.0%, primarily due to favorable foreign currency exchange rates in Canada and Australia. Total operating expenses increased $62.5 million, or 4.8%, from the prior year. Field wages increased $44.6 million, or 8.4%, due to increased tax professional wages resulting from an increase in U.S. assisted tax preparation revenues. Certain wage‑related expenses are now being reported in field wages rather than other wages to better align with how costs are managed and evaluated internally. This change had no impact on total operating expenses, and prior period amounts have not been reclassified. Benefits and other compensation increased $6.6 million or 5.9% due primarily to higher payroll taxes, stock-based compensation and severance pay in the current year. Occupancy expense increased $7.6 million, or 6.4%, primarily due to higher lease expenses and facility repairs. Marketing and advertising expenses decreased $11.3 million, or 5.7%, due to lower online and TV advertising as well as lower customer incentive expenses. Other operating expenses increased $9.3 million, or 4.8%. The components of other expenses are as follows: (in 000s) Three months ended March 31, 2026 2025 $ Change % Change Consulting and outsourced services $ 39,046 $ 38,887 $ (159) (0.4) % Bank partner fees 34,030 30,836 (3,194) (10.4) % Client claims and refunds 8,655 8,420 (235) (2.8) % Employee and travel expenses 7,993 8,552 559 6.5 % Technology-related expenses 37,076 34,472 (2,604) (7.6) % Credit card/bank charges 41,856 39,605 (2,251) (5.7) % Insurance 3,664 4,644 980 21.1 % Legal fees and settlements 10,294 7,986 (2,308) (28.9) % Supplies 11,353 10,407 (946) (9.1) % Other 8,924 9,794 870 8.9 % $ 202,891 $ 193,603 $ (9,288) (4.8) % We recorded income tax expense of $167.7 million in the current year compared to $235.3 million in the prior year. The effective tax rate for the three months ended March 31, 2026, and 2025 was 16.5% and 24.6%, respectively. The decrease in the effective tax rate was primarily attributable to the settlement of an IRS examination of our 2020 U.S. federal income tax return and related carryback claims to the 2015 through 2018 tax years. The closure of the IRS examination resulted in a discrete income tax benefit of $84.1 million, which was recorded in income tax expense. See Item 1, note 7 to the consolidated financial statements for additional discussion. 20 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents Consolidated - Financial Results (in 000s, except per share amounts) Nine months ended March 31, 2026 2025 $ Change % Change Revenues: U.S. tax preparation and related services: Assisted tax preparation $ 1,846,698 $ 1,727,220 $ 119,478 6.9 % Royalties 139,139 143,312 (4,173) (2.9) % DIY tax preparation 235,797 231,646 4,151 1.8 % Refund Transfers 121,416 115,229 6,187 5.4 % Peace of Mind® Extended Service Plan 54,087 54,867 (780) (1.4) % Tax Identity Shield® 16,851 14,947 1,904 12.7 % Other 41,321 40,215 1,106 2.8 % Total U.S. tax preparation and related services 2,455,309 2,327,436 127,873 5.5 % Financial services: Emerald Card® and Spruce SM 56,566 59,169 (2,603) (4.4) % Interest and fee income on Emerald Advance® 28,644 26,594 2,050 7.7 % Total financial services 85,210 85,763 (553) (0.6) % International 170,498 157,104 13,394 8.5 % Wave 89,506 79,681 9,825 12.3 % Total revenues $ 2,800,523 $ 2,649,984 $ 150,539 5.7 % Compensation and benefits: Field wages 741,405 682,575 (58,830) (8.6) % Other wages 230,987 230,687 (300) (0.1) % Benefits and other compensation 194,802 188,731 (6,071) (3.2) % 1,167,194 1,101,993 (65,201) (5.9) % Occupancy 339,700 326,026 (13,674) (4.2) % Marketing and advertising 208,725 221,502 12,777 5.8 % Depreciation and amortization 90,442 87,247 (3,195) (3.7) % Bad debt 63,827 62,625 (1,202) (1.9) % Other 399,721 393,900 (5,821) (1.5) % Total operating expenses 2,269,609 2,193,293 (76,316) (3.5) % Other income (expense), net 15,077 19,215 (4,138) (21.5) % Interest expense on borrowings (65,087) (62,285) (2,802) (4.5) % Pretax income 480,904 413,621 67,283 16.3 % Income taxes 39,058 104,580 65,522 62.7 % Net income from continuing operations 441,846 309,041 132,805 43.0 % Net loss from discontinued operations (1,930) (2,707) 777 28.7 % Net income $ 439,916 $ 306,334 $ 133,582 43.6 % DILUTED EARNINGS PER SHARE Continuing operations $ 3.40 $ 2.23 $ 1.17 52.5 % Discontinued operations (0.02) (0.02) — — % Consolidated $ 3.38 $ 2.21 $ 1.17 52.9 % Adjusted diluted EPS (1) $ 2.95 $ 2.41 $ 0.54 22.4 % EBITDA (1) $ 636,433 $ 563,153 $ 73,280 13.0 % (1) All non-GAAP measures are results from continuing operations. See " Non-GAAP Financial Information " at the end of this item for a reconciliation of non-GAAP measures. H&R Block, Inc. |Q3 FY2026 Form 10-Q 21 Table of Contents Nine months ended March 31, 2026 compared to March 31, 2025 Revenues increased $150.5 million, or 5.7%, from the prior year. U.S. assisted tax preparation revenues increased $119.5 million, or 6.9%, primarily due to a 4.0% increase in net average charge combined with a 2.7% increase in company-owned tax return volumes in the current year. U.S. royalties revenue decreased $4.2 million, or 2.9%, due to lower franchise tax return volumes, which was primarily driven by franchise acquisitions. During the year we purchased franchise offices which results in increasing tax preparation revenues and decreasing royalties as the revenues and returns become company-owned after the acquisition. Through the nine months ended March 31, 2026 our total assisted tax return volume, which includes both company-owned and franchise offices, increased 0.6% from the prior year. U.S. DIY tax preparation revenues increased $4.2 million, or 1.8%, largely due to a 3.9% increase in online paid net average charge, offset by a 2.7% decrease in online paid volume. International revenues increased $13.4 million, or 8.5%, primarily due to favorable foreign currency exchange rates in Canada and Australia. Total operating expenses increased $76.3 million, or 3.5%, from the prior year period. Field wages increased $58.8 million, or 8.6%, due to increased tax professional wages as a result of higher U.S. assisted tax preparation revenues. Certain wage‑related expenses are now being reported in field wages rather than other wages to better align with how costs are managed and evaluated internally. This change had no impact on total operating expenses, and prior period amounts have not been reclassified. Benefits and other compensation increased $6.1 million, or 3.2%, due to higher payroll taxes, employee insurance, and severance. Occupancy expense increased $13.7 million, or 4.2%, primarily due to higher lease expenses and facility repairs. Marketing and advertising expense decreased $12.8 million, or 5.8%, due to lower online and TV advertising as well as lower customer incentives. Other operating expenses increased $5.8 million, or 1.5%. The components of other expenses are as follows: (in 000s) Nine months ended March 31, 2026 2025 $ Change % Change Consulting and outsourced services $ 76,536 $ 72,770 $ (3,766) (5.2) % Bank partner fees 32,781 32,199 (582) (1.8) % Client claims and refunds 17,795 18,696 901 4.8 % Employee and travel expenses 26,073 27,164 1,091 4.0 % Technology-related expenses 93,197 87,035 (6,162) (7.1) % Credit card/bank charges 80,780 76,300 (4,480) (5.9) % Insurance 11,210 12,444 1,234 9.9 % Legal fees and settlements 25,273 29,640 4,367 14.7 % Supplies 19,010 16,884 (2,126) (12.6) % Other 17,066 20,768 3,702 17.8 % $ 399,721 $ 393,900 $ (5,821) (1.5) % Technology-related expenses increased $6.2 million, or 7.1%, due to higher third-party technology and software costs. We recorded income tax expense of $39.1 million in the current year compared to $104.6 million in the prior year. The effective tax rate for the nine months ended March 31, 2026, and 2025 was 8.1% and 25.3% respectively. The decrease in the effective tax rate was primarily attributable to the settlement of an IRS examination of our 2020 U.S. federal income tax return and related carryback claims to the 2015 through 2018 tax years. The closure of the IRS examination resulted in a discrete income tax benefit of $84.1 million, which was recorded in income tax expense. See Item 1, note 7 to the consolidated financial statements for additional discussion. 22 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents TAX SEASON UPDATE Assisted tax return volume, which includes our company-owned and franchise operations, was flat from July 1, 2025 through April 30, 2026 compared to the prior year period. DIY online paid tax return volume from July 1, 2025 through April 30, 2026 decreased 4.2% compared to the prior year period. Our business is highly seasonal and results for the nine months ended March 31, as well as results for the period ended April 30, may not be indicative of results for the fiscal year ended June 30, 2026. FINANCIAL CONDITION These comments should be read in conjunction with the consolidated balance sheets and consolidated statements of cash flows included in Part 1, Item 1 . CAPITAL RESOURCES AND LIQUIDITY – OVERVIEW – Our primary sources of capital and liquidity include cash from operations (including changes in working capital), draws on our unsecured committed line of credit (CLOC), and issuances of debt. We use our sources of liquidity primarily to fund working capital, service and repay debt, pay dividends, repurchase shares of our common stock, and acquire businesses. Our operations are highly seasonal and substantially all of our revenues and cash flow are generated during the period from February through April in a typical year. Therefore, we normally require the use of cash to fund losses and working capital needs, periodically resulting in a working capital deficit, during the months of May through January. We typically have relied on available cash balances from the prior tax season and borrowings to meet liquidity needs. Given the likely availability of a number of liquidity options discussed herein, we believe that, in the absence of any unexpected developments, our existing sources of capital as of March 31, 2026 are sufficient to meet our operating, investing and financing needs. DISCUSSION OF CONSOLIDATED STATEMENTS OF CASH FLOWS – The following table summarizes our statements of cash flows for the nine months ended March 31, 2026 and 2025. See Item 1 for the complete consolidated statements of cash flows for these periods. (in 000s) Nine months ended March 31, 2026 2025 Net cash provided by (used in): Operating activities $ 586,717 $ 429,322 Investing activities (122,560) (110,890) Financing activities (579,481) (595,506) Effects of exchange rates on cash (1,070) (8,429) Net decrease in cash and cash equivalents, including restricted balances $ (116,394) $ (285,503) Operating Activities. Cash provided by operations totaled $586.7 million for the nine months ended March 31, 2026 compared to $429.3 million in the prior year period. The increase is primarily due to higher net income, changes in accounts payable, accrued expenses, salaries, wages and payroll taxes and accounts receivable, partially offset by taxes paid and the release of income tax reserves associated with the settlement of the IRS examination of our 2020 U.S. federal income tax return and related carryback claims to the 2015 through 2018 tax years. Investing Activities. Cash used in investing activities totaled $122.6 million for the nine months ended March 31, 2026 compared to $110.9 million in the prior year period. The increase is primarily due to higher payments made for business acquisitions in the current year. Financing Activities. Cash used in financing activities totaled $579.5 million for the nine months ended March 31, 2026 compared to $595.5 million in the prior year period. The change is primarily due to lower share repurchases for payroll taxes on stock based awards, partially offset by higher dividends. H&R Block, Inc. |Q3 FY2026 Form 10-Q 23 Table of Contents CASH REQUIREMENTS – Dividends and Share Repurchases. Returning capital to shareholders in the form of dividends and the repurchase of outstanding shares is, and has historically been, a significant component of our capital allocation plan. We have consistently paid quarterly dividends. Dividends paid totaled $157.8 million and $147.1 million for the nine months ended March 31, 2026 and 2025, respectively. Although we have historically paid dividends and plan to continue to do so, there can be no assurances that circumstances will not change in the future that could affect our ability or decisions to pay dividends. During the nine months ended March 31, 2026, we repurchased $400.1 million of our common stock at an average price of $50.90 per share, excluding excise taxes in connection with such repurchases. In the prior year period, we repurchased $400.1 million of our common stock at an average price of $61.10 per share, excluding excise taxes in connection with such repurchases. Our current share repurchase program has remaining authorization of $700.0 million and does not have an expiration date. Share repurchases may be effectuated through open market transactions, some of which may be effectuated under SEC Rule 10b5-1. The Company may cancel, suspend, or extend the period for the purchase of shares at any time. Any repurchases will be funded primarily through available cash and cash from operations. Although we may continue to repurchase shares, there is no assurance that we will purchase up to the full Board authorization. Capital Investment. Capital expenditures totaled $67.1 million and $71.8 million for the nine months ended March 31, 2026 and 2025, respectively. Our capital expenditures relate primarily to recurring improvements to retail offices, as well as investments in computers, software and related assets. In addition to our capital expenditures, we also made payments to acquire businesses. We acquired franchisee and competitor businesses totaling $55.0 million and $35.3 million during the nine months ended March 31, 2026 and 2025, respectively. See Item 1, note 5 for additional information on our acquisitions. FINANCING RESOURCES – The 2025 CLOC has capacity up to $1.5 billion and is scheduled to expire in July 2030. Proceeds under the 2025 CLOC may be used for working capital needs or for other general corporate purposes. We had no outstanding balance on our 2025 CLOC and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of March 31, 2026. On August 26, 2025, we issued the 2032 Senior Notes. We redeemed our 2025 Senior Notes at 100% of the principal amount, plus accrued and unpaid interest, on September 19, 2025. The following table provides ratings for debt issued by Block Financial LLC (Block Financial) as of March 31, 2026 and June 30, 2025: As of March 31, 2026 June 30, 2025 Short-term Long-term Outlook Short-term Long-term Outlook Moody's P-3 Baa3 Stable P-3 Baa3 Stable S&P A-2 BBB Stable A-2 BBB Stable Other than described above, there have been no material changes in our borrowings from those reported as of June 30, 2025 in our Annual Report on Form 10-K. CASH AND OTHER ASSETS – As of March 31, 2026, we held cash and cash equivalents, excluding restricted amounts, of $867.0 million, including $196.7 million held by our foreign subsidiaries. Foreign Operations. Seasonal borrowing needs of our Canadian operations are typically funded by our U.S. operations. To mitigate foreign currency risk, we sometimes enter into foreign exchange forward contracts. There were no forward contracts outstanding as of March 31, 2026. We do not currently intend to repatriate non-borrowed funds held by our foreign subsidiaries in a manner that would trigger a tax liability. 24 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents The impact of changes in foreign exchange rates during the period on our international cash balances resulted in a decrease of $1.1 million and $8.4 million during the nine months ended March 31, 2026 and 2025, respectively. CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS – EAs are originated by Pathward. We purchase participation interests, at par, in all EAs originated by Pathward in accordance with our participation agreement. Our participation interest varies by jurisdiction. For the nine months ended March 31, 2026, the principal balance of purchased participation interests for the current year totaled $283.7 million, which represents 87% of total EA volume originated by Pathward. Except as described in Recent Developments related to the 2025 CLOC, the 2032 Senior Notes issuance and the 2025 Senior Notes redemption, there have been no other material changes in our contractual obligations and commercial commitments from those reported in our June 30, 2025 Annual Report on Form 10-K. SUMMARIZED GUARANTOR FINANCIAL STATEMENTS – Block Financial is a 100% owned subsidiary of H&R Block, Inc. Block Financial is the Issuer and H&R Block, Inc. is the full and unconditional Guarantor of our Senior Notes, CLOC and other indebtedness issued from time to time. The following table presents summarized financial information for H&R Block, Inc. (Guarantor) and Block Financial (Issuer) on a combined basis after intercompany eliminations and excludes investments in and equity earnings in non-guarantor subsidiaries. SUMMARIZED BALANCE SHEET - GUARANTOR AND ISSUER (in 000s) As of March 31, 2026 June 30, 2025 Current assets $ 53,021 $ 38,254 Noncurrent assets 1,848,462 1,836,847 Current liabilities 82,882 432,139 Noncurrent liabilities 1,495,849 1,148,806 SUMMARIZED STATEMENTS OF OPERATIONS - GUARANTOR AND ISSUER (in 000s) Nine months ended March 31, 2026 Twelve months ended June 30, 2025 Total revenues $ 104,498 $ 126,240 Income from continuing operations before income taxes 47,726 58,596 Net income from continuing operations 36,749 45,120 Net income 34,820 41,443 The table above reflects $1.8 billion of non-current intercompany receivables due to the Issuer from non-guarantor subsidiaries as of March 31, 2026 and June 30, 2025. REGULATORY ENVIRONMENT There have been no material changes in our regulatory environment from what was reported in our June 30, 2025 Annual Report on Form 10-K. NON-GAAP FINANCIAL INFORMATION Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. generally accepted accounting principles (GAAP). Because these measures are not measures of financial performance under GAAP and are susceptible to varying calculations, they may not be comparable to similarly titled measures for other companies. We consider our non-GAAP financial measures to be performance measures and a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business. We make adjustments for certain non-GAAP financial measures related to material discrete tax impacts of IRS examination settlements, amortization of intangibles from acquisitions and goodwill impairments. We may H&R Block, Inc. |Q3 FY2026 Form 10-Q 25 Table of Contents consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. We measure the performance of our business using a variety of metrics, including earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, adjusted EBITDA from continuing operations, adjusted net income from continuing operations, adjusted diluted earnings per share from continuing operations, free cash flow, and free cash flow yield. We also use EBITDA from continuing operations and pretax income of continuing operations, each subject to permitted adjustments, as performance metrics in incentive compensation calculations for our employees. The following is a reconciliation of net income to EBITDA from continuing operations, which is a non-GAAP financial measure: (in 000s) Three months ended March 31, Nine months ended March 31, 2026 2025 2026 2025 Net income - as reported $ 847,901 $ 722,330 $ 439,916 $ 306,334 Discontinued operations, net 879 598 1,930 2,707 Net income from continuing operations - as reported 848,780 722,928 441,846 309,041 Add back: Income taxes 167,678 235,253 39,058 104,580 Interest expense 24,307 24,686 65,087 62,285 Depreciation and amortization 31,519 29,221 90,442 87,247 223,504 289,160 194,587 254,112 EBITDA from continuing operations $ 1,072,284 $ 1,012,088 $ 636,433 $ 563,153 The following is a reconciliation of our results from continuing operations to our adjusted results from continuing operations, which is a non-GAAP financial measure: (in 000s, except per share amounts) Three months ended March 31, Nine months ended March 31, 2026 2025 2026 2025 Net income from continuing operations - as reported $ 848,780 $ 722,928 $ 441,846 $ 309,041 Adjustments: Amortization of intangibles related to acquisitions (pretax) 12,170 11,278 34,401 33,316 Discrete tax impact of IRS examination settlements (84,113) — (84,113) — Tax effect of pretax adjustments (1) (3,145) (2,927) (8,381) (8,111) Adjusted net income from continuing operations $ 773,692 $ 731,279 $ 383,753 $ 334,246 Diluted earnings per share from continuing operations - as reported $ 6.61 $ 5.32 $ 3.40 $ 2.23 Adjustments, net of tax (0.59) 0.06 (0.45) 0.18 Adjusted diluted earnings per share from continuing operations $ 6.02 $ 5.38 $ 2.95 $ 2.41 (1) Tax effect of adjustments is the difference between the tax provision calculated on a GAAP basis and on an adjusted non-GAAP basis. FORWARD-LOOKING INFORMATION This report and other documents filed with the Securities and Exchange Commission (SEC) may contain forward-looking statements. In addition, our senior management may make forward-looking statements orally to analysts, 26 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents investors, the media and others. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "commits," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "could," "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, client trajectory, income, effective tax rate, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure, market share, industry volumes or other financial items, descriptions of management's plans or objectives for future operations, services or products, or descriptions of assumptions underlying any of the above. They may also include the expected impact of external events beyond the Company's control, such as outbreaks of infectious disease, severe weather events, natural or manmade disasters, or changes in the regulatory environment in which we operate. All forward-looking statements speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data or methods, future events or other changes, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, operational and regulatory factors, many of which are beyond the Company's control. In addition, factors that may cause the Company’s actual effective tax rate to differ from estimates include the Company’s actual results from operations compared to current estimates, future discrete items, changes in interpretations and assumptions the Company has made, future actions of the Company, and increases in applicable tax rates in jurisdictions where the Company operates. Investors should understand that it is not possible to predict or identify all such factors and, consequently, should not consider any such list to be a complete set of all potential risks or uncertainties. Details about risks, uncertainties and assumptions that could affect various aspects of our business are included throughout our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 and are also described from time to time in other filings with the SEC. Investors should carefully consider all of these risks, and should pay particular attention to Item 1A, "Risk Factors," and Item 7 under "Critical Accounting Estimates" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2025. ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK There have been no material changes in our market risks from those reported in our June 30, 2025 Annual Report on Form 10-K. ITEM 4. CONTROLS AND PROCEDURES EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES – As of the end of the period covered by this Form 10-Q, management, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)). Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Quarterly Report on Form 10-Q. CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING – There were no changes during the three months ended March 31, 2026 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. PART II OTHER INFORMATION H&R Block, Inc. |Q3 FY2026 Form 10-Q 27 Table of Contents ITEM 1. LEGAL PROCEEDINGS For a description of our material pending legal proceedings, see discussion in Part I, Item 1, note 9 to the consolidated financial statements. ITEM 1A. RISK FACTORS There have been no material changes in our risk factors from those reported in our June 30, 2025 Annual Report on Form 10-K. ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS A summary of our purchases of H&R Block common stock during the three months ended March 31, 2026 is as follows: (in 000s, except per share amounts) Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2) January 1 - January 31 1 $ 41.87 — $ 700,000 February 1 - February 28 — $ 30.62 — $ 700,000 March 1 - March 31 — $ — — $ 700,000 1 $ 41.52 — (1) We purchased approximately 1 thousand shares in connection with funding employee income tax withholding obligations arising upon the lapse of restrictions on restricted share units. (2) On August 15, 2024, we announced that our Board of Directors approved a $1.5 billion share repurchase program. The repurchase program does not have an expiration date. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. MINE SAFETY DISCLOSURES Not applicable. ITEM 5. OTHER INFORMATION Director and Section 16 Officer Trading Arrangements During the three months ended March 31, 2026, no director or Section 16 officer adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K. 28 Q3 FY2026 Form 10-Q| H&R Block, Inc. Table of Contents ITEM 6. EXHIBITS The following exhibits are numbered in accordance with the Exhibit Table of Item 601 of Regulation S-K: 22 List of Guarantor and Issuer Subsidiaries . 31.1 Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification by Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification by Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002. 32.2 Certification by Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002. 101.INS Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document 101.SCH Inline XBRL Taxonomy Extension Schema 101.CAL Inline XBRL Extension Calculation Linkbase 101.LAB Inline XBRL Taxonomy Extension Label Linkbase 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) H&R Block, Inc. |Q3 FY2026 Form 10-Q 29 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. H&R BLOCK, INC. /s/ Curtis A. Campbell Curtis A. Campbell President and Chief Executive Officer May 6, 2026 /s/ Tiffany L. Mason Tiffany L. Mason Chief Financial Officer May 6, 2026 /s/ April M. Wasleski April M. 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Covered Year [Member] Insider Trading Policies and Procedures Not Adopted Insider Trading Policies and Procedures Not Adopted [Text Block] Business Combination [Domain] Business Combination [Domain] Discrete income tax expense (benefit) Effective Income Tax Rate Reconciliation, Discrete Adjustments, Amount Effective Income Tax Rate Reconciliation, Discrete Adjustments, Amount Bad debt Accounts Receivable, Credit Loss Expense (Reversal) PEO PEO [Member] RECEIVABLES Loans, Notes, Trade and Other Receivables Disclosure [Text Block] Disaggregation of Revenue by Major Service Line Disaggregation of Revenue [Table Text Block] Class of Financing Receivable [Domain] Class of Financing Receivable [Domain] Proceeds from issuance of long-term debt Proceeds from Issuance of Senior Long-Term Debt Accrued income taxes and reserves for uncertain tax positions Accrued Income Taxes, Current Changes in assets and liabilities, net of acquisitions: Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract] Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year [Member] Guarantor Obligations, Current Carrying Value Guarantor Obligations, Current Carrying Value Peace of Mind® Extended Service Plan POM Peace of Mind Revenues [Member] Peace of Mind Revenues [Member] Retained Earnings (Deficit) Retained Earnings [Member] Prepaid expenses and other current assets Prepaid Expense and Other Assets, Current Entity Address, Postal Zip Code Entity Address, Postal Zip Code Restatement Determination Date Restatement Determination Date Receivables for U.S. assisted and DIY tax preparation and related fees Receivables For Tax Preparation And Related Fees [Member] Receivables for Tax Preparation and Related Fees Cash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation Income Statement [Abstract] Income Statement [Abstract] Income taxes Income Tax Expense (Benefit) Discontinued operations Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share Intangible assets, net Intangible Assets, Net (Excluding Goodwill) Pension Adjustments Service Cost Pension Adjustments Service Cost [Member] Product and Service [Domain] Product and Service [Domain] Diluted Income (Loss) from Continuing Operations, Per Diluted Share Restatement does not require Recovery Restatement Does Not Require Recovery [Text Block] Business Combination [Table] Business Combination [Table] Wave Wave HQ Inc. [Member] Wave HQ Inc. 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Long-Term Debt Effective tax rate Effective Income Tax Rate Reconciliation, Percent Entity Interactive Data Current Entity Interactive Data Current Capitalized software Computer Software, Intangible Asset [Member] Accounts, Notes, Loans and Financing Receivable, Unclassified [Abstract] Accounts, Notes, Loans and Financing Receivable, Unclassified [Abstract] LITIGATION AND OTHER RELATED CONTINGENCIES Legal Matters and Contingencies [Text Block] Senior notes Senior Notes Non-Accrual Financing Receivable, Nonaccrual Segment Reporting Disclosure Segment Reporting Disclosure [Text Block] Goodwill [Table] Goodwill [Table] Disaggregation of Revenue [Table] Disaggregation of Revenue [Table] Other Commitments [Line Items] Other Commitments [Line Items] Increase (Decrease) in Stockholders' Equity [Roll Forward] Increase (Decrease) in Stockholders' Equity [Roll Forward] Compensation Actually Paid vs. Total Shareholder Return Compensation Actually Paid vs. Total Shareholder Return [Text Block] Contingent business acquisition obligations Business Combination, Contingent Consideration, Liability Amortization Amortization of Intangible Assets Cash and cash equivalents - restricted Restricted Cash and Cash Equivalent, Current Selling, general and administrative Selling, General and Administrative Expense Depreciation and amortization Depreciation, Depletion and Amortization Stock-based awards exercised or vested (in shares) Shares Issued, Shares, Stock Based Awards Exercised Or Vested Shares Issued, Shares, Stock Based Awards Exercised Or Vested Other noncurrent assets Other Assets, Noncurrent Entity Central Index Key Entity Central Index Key PEO Name PEO Name Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member] Estimated amortization, 2022 Finite-Lived Intangible Assets, Amortization Expense, Next Rolling 12 Months Outstanding Aggregate Erroneous Compensation Amount Outstanding Aggregate Erroneous Compensation Amount Revolving credit facility Revolving Credit Facility [Member] COMPREHENSIVE INCOME: Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] Change in tax benefits that are reasonably possible Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit Arrangement Duration Trading Arrangement Duration Schedule of Segment Reporting Information, by Segment [Table] Schedule of Segment Reporting Information, by Segment [Table] Current deferred revenue Contract with Customer, Liability, Current Beginning balance Ending balance Premium Receivable, Allowance for Credit Loss Prepaid expenses, other current and noncurrent assets Increase (Decrease) in Prepaid Expense and Other Assets Exercise Price Award Exercise Price Entity Filer Category Entity Filer Category Local Phone Number Local Phone Number Additional 402(v) Disclosure Additional 402(v) Disclosure [Text Block] Unrecognized compensation costs, nonvested shares and units Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount Other, net Payment for (Proceeds from) Other Investing Activity Other, net Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item Repurchase and retirement of common shares (in shares) Stock Repurchased and Retired During Period, Shares Line Of Credit Facility, Available Increase In Borrowing Capacity Line Of Credit Facility, Available Increase In Borrowing Capacity Line Of Credit Facility, Available Increase In Borrowing Capacity Schedule of Short-Term Receivables Schedule of Short-Term Receivables [Table Text Block] Schedule of Short-Term Receivables [Table Text Block] ASSETS Assets [Abstract] Long-term debt Long-Term Debt, Excluding Current Maturities Credit Facility [Axis] Credit 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[Member] Interest rate Debt Instrument, Interest Rate, Stated Percentage Stock-based awards exercised or vested Shares Issued, Value, Stock Based Awards Exercised Or Vested Shares Issued, Value, Stock Based Awards Exercised Or Vested Allowance for doubtful accounts Accounts Receivable, Allowance for Credit Loss, Current Operating lease liabilities Operating Lease, Liability, Noncurrent Gross unrecognized tax benefits increase (decrease) Unrecognized Tax Benefits, Period Increase (Decrease) Standard guarantee accrual amount Standard Guarantee Accrual Amount Standard guarantee accrual amount Franchise loans funded Payments For Loans Made To Franchisees Payments For Loans Made To Franchisees Other Other revenue [Member] Other revenue [Member] Fair Value as of Grant Date Award Grant Date Fair Value Entity Registrant Name Entity Registrant Name Stock Price or TSR Estimation Method Stock Price or TSR Estimation Method [Text Block] Labor and Related Expense Labor and Related Expense Components of Long-Term Debt Schedule of Long-Term Debt Instruments [Table Text Block] Accrued additions to property and equipment Accrued Additions to Property and Equipment Accrued Additions to Property and Equipment Total operating expenses Costs and Expenses Document Quarterly Report Document Quarterly Report Disposals and foreign currency changes, net Goodwill Disposals and Other Goodwill disposals and other Estimated fair value of long-term debt Long-Term Debt, Fair Value Changed Peer Group, Footnote Changed Peer Group, Footnote [Text Block] Provision for credit losses Premium Receivable, Credit Loss Expense (Reversal) Nonvested units granted (in shares) Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted Adjustment To PEO Compensation, Footnote Adjustment To PEO Compensation, Footnote [Text Block] Title Trading Arrangement, Individual Title Peer Group Total Shareholder Return Amount Peer Group Total Shareholder Return Amount Service revenues Service [Member] Schedule of Intangible Assets Schedule of Finite-Lived Intangible Assets [Table Text Block] Repayments of Long-Term Lines of Credit Repayments of Long-Term Lines of Credit Restatement Determination Date: Restatement Determination Date [Axis] Swingline Loans Swingline Credit Facility [Member] Swingline Credit Facility [Member] Stock-based awards exercised or vested Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture Non-PEO NEO Non-PEO NEO [Member] Emerald Advance® EAs Emerald Advance Term Loans [Member] Emerald Advance Term Loans Other, net Proceeds from (Payment for) Other Financing Activity Interest expense on borrowings Interest Expense, Debt Name Trading Arrangement, Individual Name Allowance Financing Receivable, Allowance for Credit Loss All Award Types Award Type [Domain] Other Other Receivables [Member] Other Receivables [Member] Equity Awards Adjustments Equity Awards Adjustments [Member] Pension Benefits Adjustments, Footnote Pension Benefits Adjustments, Footnote [Text Block] Disaggregation of Revenue [Line Items] Disaggregation of Revenue [Line Items] Compensation Amount Outstanding Recovery Compensation Amount Debt Instrument, Name [Domain] Debt Instrument, Name [Domain] Recovery of Erroneously Awarded Compensation Disclosure [Line Items] Amounts recognized on previous deferrals Contract with Customer, Liability, Revenue Recognized Discontinued Operation, Tax Effect of Discontinued Operation Discontinued Operation, Tax Effect of Discontinued Operation MNPI Disclosure Timed for Compensation Value MNPI Disclosure Timed for Compensation Value [Flag] Name Awards Close in Time to MNPI Disclosures, Individual Name Emerald Card® and SpruceSM Fees from Emerald Card [Member] Fees from Emerald Card [Member] Benefits and other compensation Other Labor-related Expenses H&R Block's Instant Refund® receivables H&R Block's Instant Refund® receivables H&R Block Instant Refund [Member] H&R Block Instant Refund [Member] Aggregate Erroneous Compensation Not Yet Determined Aggregate Erroneous Compensation Not Yet Determined [Text Block] REVENUES: Revenues [Abstract] Stock-based compensation APIC, Share-Based Payment Arrangement, Increase for Cost Recognition Less treasury shares, at cost, of 29,746,662 and 30,420,033 Treasury Stock, Value Long-Term Debt and Lease Obligation Long-Term Debt and Lease Obligation Accumulated other comprehensive loss Accumulated Other Comprehensive Income (Loss), Net of Tax Goodwill before impairment losses, beginning balance Goodwill before impairment losses, ending balance Goodwill, Gross Emerald Advance Lines of Credit Write Offs Emerald Advance Term Loan Write Offs [Member] Emerald Advance Term Loan Write Offs Royalties Royalties [Member] Royalties [Member] Litigation Case [Axis] Litigation Case [Axis] Increase in effective tax rate from discrete item, percent Effective Income Tax Rate Reconciliation, Effect of Discrete Items, Percent Effective Income Tax Rate Reconciliation, Effect of Discrete Items, Percent Aggregate Pension Adjustments Service Cost Aggregate Pension Adjustments Service Cost [Member] Effective Income Tax Rate Reconciliation, Reconciling Item, Description Effective Income Tax Rate Reconciliation, Reconciling Item, Description Royalty, product and other revenues Royalty [Member] Minimum interest coverage ratio Debt Instrument, Covenant, Interest Coverage Ratio Debt Instrument, Covenant, Interest Coverage Ratio Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets by Major Class [Axis] Accumulated depreciation and amortization Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Accounts, Notes, Loans and Financing Receivable [Line Items] Accounts, Notes, Loans and Financing Receivable [Line Items] Company Selected Measure Name Company Selected Measure Name Remaining franchise equity lines of credit-undrawn commitment Remaining Obligation For Unfunded Letter Of 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International International [Member] International [Member] Senior Notes Senior Notes [Member] Aggregate Available Trading Arrangement, Securities Aggregate Available Amount Stock Appreciation Rights (SARs) Stock Appreciation Rights (SARs) [Member] Accrued dividends payable to common shareholders Dividends Payable Purchased technology Purchased Technology [Member] Purchased Technology [Member] All Executive Categories All Executive Categories [Member] Repayments of senior debt Repayments of Senior Debt Common stock, no par, stated value $0.01 per share, 800,000,000 shares authorized, shares issued of 156,506,438 and 164,367,434 Common Stock, Value, Issued Goodwill [Roll Forward] Goodwill [Roll Forward] Amounts allocated to participating securities Undistributed Earnings (Loss) Allocated to Participating Securities, Basic COMMITMENTS AND CONTINGENCIES Commitments and Contingencies Disclosure [Text Block] Dilutive weighted average common shares (in shares) Weighted Average Number of Shares Outstanding, Diluted COMMITMENTS AND CONTINGENCIES Commitments and Contingencies Non-GAAP Measure Description Non-GAAP Measure Description [Text Block] Business Combination [Axis] Business Combination [Axis] Provision for credit losses Provision For Bad Debts And Loan Losses Provision for bad debts and loan losses. Entity Small Business Entity Small Business Income Tax Disclosure [Abstract] Income Tax Disclosure [Abstract] Other Other Cost and Expense, Operating LONG-TERM DEBT Long-Term Debt [Text Block] Document Transition Report Document Transition Report Underlying Securities Award Underlying Securities Amount Equity Component [Domain] Equity Component [Domain] Document Period End Date Document Period End Date PEO Actually Paid Compensation Amount PEO Actually Paid Compensation Amount Customer Advance, Line Of Credit, Outstanding Amount Customer Advance, Line Of Credit, Outstanding Amount Customer Advance, Line Of Credit, Outstanding Amount Franchisee and competitor businesses Franchisee and Competitor Businesses [Member] Franchisee and Competitor Businesses [Member] INCOME TAXES Income Tax Disclosure [Text Block] Awards Close in Time to MNPI Disclosures, Table Awards Close in Time to MNPI Disclosures [Table Text Block] Revenue from Contract with Customer [Abstract] Revenue from Contract with 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Terminated [Flag] Long-term Line of Credit Long-Term Line of Credit Goodwill and Intangible Assets [Line Items] Goodwill and Intangible Assets [Line Items] Goodwill and Intangible Assets Disclosure [Line Items] Deferred tax assets and income taxes receivable Deferred Income Tax Assets And Income Taxes Receivable, Net Deferred Income Tax Assets And Income Taxes Receivable, Net Earnings Per Share, Diluted Earnings Per Share, Diluted Erroneously Awarded Compensation Recovery Erroneously Awarded Compensation Recovery [Table] Receivables, less allowance for credit losses of $53,638 and $55,775 Short-term Accounts Receivable, after Allowance for Credit Loss, Current Title of 12(b) Security Title of 12(b) Security Impaired, non-accrual status term Impaired Non Accrual Status Term Impaired Non Accrual Status Term Treasury stock, shares (in shares) Treasury Stock, Common, Shares POM maximum per tax return POM Maximum per Tax Return POM Maximum per Tax Return Earnings Per Share [Abstract] Earnings Per Share [Abstract] Noncompete agreements Noncompete Agreements Noncompete Agreements [Member] Net loss from discontinued operations, net of tax benefits of $263, $180, $576, and $811 Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest Refund Transfers Refund Transfer Revenues [Member] Refund Transfer Revenues [Member] Deferred Type [Domain] Deferred Type [Domain] [Domain] for Deferred Type [Axis] Repurchase and retirement of common shares Stock Repurchased and Retired During Period, Value Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year Royalties and other receivables from franchisees Royalties From Franchisees [Member] Royalties from Franchisees [Member] Acquisition of treasury shares (in shares) Treasury Stock, Shares, Acquired Income taxes paid, net (includes payments for purchased investment tax credits) Income Taxes Paid, Net Prior year and before Prior Year Of Origination and Before [Member] Prior Year Of Origination and Before [Member] Estimated amortization, 2024 Finite-Lived Intangible Asset, Expected Amortization, Year Two Award Timing Disclosures [Line Items] Accrued salaries, wages and payroll taxes Employee-related Liabilities, Current Maximum borrowing capacity Line of Credit Facility, Current Borrowing Capacity Trade name Trade Names [Member] Deferred Revenue Deferred Revenue [Member] Deferred Revenue [Member] Maximum quarterly debt-to-EBITDA ratio Debt Instrument, Covenant, Quarterly Debt To EBITDA Ratio Debt Instrument, Covenant, Quarterly Debt To EBITDA Ratio NET INCOME Net income Net Income (Loss) Attributable to Parent Expiration Date Trading Arrangement Expiration Date Other Commitments [Domain] Other Commitments [Domain] Allowance for Doubtful Accounts [Roll Forward] Accounts Receivable, Allowance for Credit Loss [Roll Forward] Property and equipment, at cost, less accumulated depreciation and amortization of $880,616 and $828,744 Property, Plant and Equipment, Net Amounts deferred Contract with Customer, Liability, Amount Deferred Contract with Customer, Liability, Amount Deferred Segment Reporting Information [Line Items] Segment Reporting Information [Line Items] Adoption Date Trading Arrangement Adoption Date Compensation Actually Paid vs. Net Income Compensation Actually Paid vs. Net Income [Text Block] Receivables Increase (Decrease) in Accounts Receivable Entity Current Reporting Status Entity Current Reporting Status Awards Close in Time to MNPI Disclosures Awards Close in Time to MNPI Disclosures [Table] Customer relationships Customer Relationships Customer Relationships [Member] Retained earnings (deficit) Retained Earnings (Accumulated Deficit) Statement of Financial Position [Abstract] Statement of Financial Position [Abstract] Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested 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Deferred taxes Deferred Income Tax Expense (Benefit) Including Discontinued Operations Deferred Income Tax Expense (Benefit) Including Discontinued Operations Computations of Basic And Diluted Earnings Per Share Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Segment Reporting [Abstract] Software receivables from retailers Software Receivable from Retailers [Member] Software Receivable from Retailers [Member] Costs of revenues Cost of Revenue Pay vs Performance Disclosure, Table Pay vs Performance [Table Text Block] Debt Disclosure [Abstract] Debt Disclosure [Abstract] Forgone Recovery due to Violation of Home Country Law, Amount Forgone Recovery due to Violation of Home Country Law, Amount Entity Tax Identification Number Entity Tax Identification Number OPERATING EXPENSES: Costs and Expenses [Abstract] Accounts Receivable, Allowance for Credit Loss, Writeoff Charge-offs, recoveries and other Accounts Receivable, Allowance for Credit Loss, Writeoff Forgone Recovery due to Expense of Enforcement, Amount Forgone Recovery due to Expense of Enforcement, Amount Common stock, stated value per share (in usd per share) Common Stock, Par or Stated Value Per Share Common stock, shares issued (in shares) Common Stock, Shares, Issued GOODWILL AND INTANGIBLE ASSETS Goodwill and Intangible Assets Disclosure [Text Block] Management Estimates Use of Estimates, Policy [Policy Text Block] Dividends paid Payments of Dividends Occupancy Occupancy, Net Schedule of Goodwill Schedule of Goodwill [Table Text Block] Trading Arrangement: Trading Arrangement [Axis] Income tax receivables, accrued income taxes and income tax reserves Increase (Decrease) in Income Taxes Payable Total Shareholder Return Amount Total Shareholder Return Amount Loss Contingencies [Line Items] Loss Contingencies [Line Items] Change in foreign currency translation adjustments Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax Insider Trading Arrangements [Line Items] Security Exchange Name Security Exchange Name Payments from franchisees Proceeds from Collection of Franchise Loans Receivable Proceeds from Collection of Franchise Loans Receivable Total liabilities Liabilities Discontinued Operations Interest Expense Allocated to Discontinued Operation [Policy Text Block] Aggregate principal amount Line of Credit Facility, Maximum Borrowing Capacity Purchase Commitment, Remaining Minimum Amount Committed Purchase Commitment, Remaining Minimum Amount Committed Pension Adjustments Prior Service Cost Pension Adjustments Prior Service Cost [Member] Material Terms of Trading Arrangement Material Terms of Trading Arrangement [Text Block] Deferred revenue and other current liabilities Other Liabilities, Current Assisted tax preparation Tax Preparation Fees [Member] Tax Preparation Fees [Member] Statement [Line Items] Statement [Line Items] Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] Rule 10b5-1 Arrangement Adopted Rule 10b5-1 Arrangement Adopted [Flag] Cash and cash equivalents Cash and Cash Equivalent Schedule of Receivables Based On Year of Origination Schedule of Receivables Based on Year of Origination [Table Text Block] Schedule of Receivables Based on Year of Origination [Table Text Block] Common Stock Common Stock [Member] Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Non-NEOs Non-NEOs [Member] Schedule of Litigation and Related Contingencies [Table] Schedule of Litigation and Related Contingencies [Table] Schedule of Litigation and Related Contingencies [Table] Net decrease in cash and cash equivalents, including restricted balances Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation Potential dilutive shares (in shares) Weighted Average Number of Shares Outstanding, Diluted, Adjustment Document Exhibit 22 LIST OF GUARANTOR AND ISSUER SUBSIDIARIES As of March 31, 2026, H&R Block, Inc. was the guarantor and Block Financial LLC was the issuer of the following: • Senior Notes, 2.500%, due July 2028 • Senior Notes, 3.875%, due August 2030 • Senior Notes, 5.375%, due September 2032 • Fifth Amended and Restated Credit and Guarantee Agreement (CLOC) Exact Name of Issuer Subsidiary Jurisdiction of Formation Block Financial LLC Delaware Document Exhibit 31.1 CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Curtis A. Campbell, Chief Executive Officer, certify that: 1. I have reviewed this quarterly report on Form 10-Q of H&R Block, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and (d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 6, 2026 /s/ Curtis A. Campbell Curtis A. Campbell Chief Executive Officer H&R Block, Inc. Document Exhibit 31.2 CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Tiffany L. Mason, Chief Financial Officer, certify that: 1. I have reviewed this quarterly report on Form 10-Q of H&R Block, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and (d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 6, 2026 /s/ Tiffany L. Mason Tiffany L. Mason Chief Financial Officer H&R Block, Inc. Document Exhibit 32.1 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the quarterly report of H&R Block, Inc. (the “Company”) on Form 10‑Q for the fiscal quarter ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Curtis A. Campbell, Chief Executive Officer of the Company, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. /s/ Curtis A. Campbell Curtis A. Campbell Chief Executive Officer H&R Block, Inc. May 6, 2026 Document Exhibit 32.2 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the quarterly report of H&R Block, Inc. (the “Company”) on Form 10‑Q for the fiscal quarter ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Tiffany L. Mason, Chief Financial Officer of the Company, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. /s/ Tiffany L. Mason Tiffany L. Mason Chief Financial Officer H&R Block, Inc. May 6, 2026