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

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