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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