In This Story
Instructure Holdings, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports total revenue of $173.2 million for the quarter, an increase from $134.9 million in the same quarter of the previous year. Subscription and support revenue contributed $160.2 million to the total, while professional services and other revenue accounted for $13.0 million.
Cost of revenue for the quarter was $58.8 million, resulting in a gross profit of $114.4 million. Operating expenses totaled $126.3 million, leading to a loss from operations of $11.9 million.
The company reported a net loss of $24.7 million for the quarter, compared to a net loss of $5.5 million in the same quarter of the previous year.
Net cash provided by operating activities was $203.9 million, while cash used in investing activities was $907.7 million, primarily due to business acquisitions. Financing activities provided $663.0 million in cash.
Instructure completed the acquisition of PCS Holdings, LLC and Community Software Solutions, LLC during the quarter, contributing to the increase in goodwill to $1.9 billion.
The company has outstanding borrowings of $1,167.3 million on its Senior Term Loan and Incremental Term Loans, with no borrowings under its Senior Revolver.
Instructure entered into a Merger Agreement with Icon Parent Inc. and Icon Acquisition Sub Inc., affiliates of KKR (KKR+0.12%), to be taken private. The merger is expected to close in the second half of 2024, subject to regulatory approvals.
The filing outlines various financial metrics, including adjusted EBITDA of $70.1 million for the quarter, and discusses risks associated with the pending merger and macroeconomic conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Instructure Holdings Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.