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Earnings Call Summary | Instructure Holdings(INST.US) Q1 2024 Earnings Conference

Futu News ·  May 9 22:14  · Conference Call

The following is a summary of the Instructure Holdings, Inc. (INST) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Instructure reported a Q1 total revenue of $155.5 million, a 20.7% yearly increase.

  • Subscription and support revenue was at $144.7 million, up 22.1% compared to the same period last year.

  • The adjusted EBITDA was reported at $64.9 million, reflecting a growth of 34.6% YoY.

  • The adjusted EBITDA margin has expanded to 41.8% this quarter due to business scalability and reallocation of spending.

Business Progress:

  • Parchment's revenue exceeded expectations by showcasing a double-digit growth rate.

  • Instructure is committed to bring forward innovative AI-powered solutions that bring value to teachers, students, and educators.

  • The ongoing focus of the company is on investments acceleration in businesses with cross-selling potential.

  • The company is making its way towards becoming a $1 billion revenue company by 2028 leveraging its digital transformation strategy.

  • Despite the macro trends posing challenges, the focus on diversifying the reach to different categories of learners remains unchanged.

More details: Instructure Holdings IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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