Welcome to our dedicated page for Instructure news (Ticker: INST), a resource for investors and traders seeking the latest updates and insights on Instructure stock.
Instructure reports developments across its learning technology ecosystem, led by Canvas LMS for K-12, higher education and workforce learning. News commonly covers Canvas product tiers, AI-supported capabilities such as IgniteAI, migration support for institutions moving from legacy LMS platforms, and partnerships that extend the learning ecosystem.
Company updates also address Canvas Career for skills-first workforce learning, Parchment digital credentials, Mastery Predictive Assessments for K-12 districts, research on skills and lifelong learning, and partnerships serving education, workforce development and correctional learning environments.
Instructure reported GAAP revenue of $122.4 million in Q3 2022, marking a 14.2% year-over-year increase. Despite an operating loss of $2.4 million, the company posted an Adjusted EBITDA of $47.6 million. Cash flow from operations reached $179.9 million. Instructure signed significant contracts, with 33% of K12 districts now using Canvas. For Q4 2022, revenue is projected between $120.7 million and $121.7 million, while full-year revenue is expected to range from $471.2 million to $472.2 million.
Instructure announced a new strategy for its New Quizzes product, prioritizing customer feedback for a smooth transition from Classic to New Quizzes. By removing migration deadlines, the company aims to reduce pressure on educational institutions and enhance user experience. Instructure plans to focus resources on developing essential features for New Quizzes, ensuring institutions can migrate at their own pace. The New Quizzes Hub will provide support resources for customers. The company has not set an end-of-life date for Classic Quizzes, continuing to maintain and support it until customers are ready to transition.
Instructure has teamed up with Thunderbird School of Global Management to launch the Francis and Dionne Najafi 100 Million Learners Global Initiative, providing free online education in over 40 languages. This initiative aims to reach 100 million learners worldwide, focusing on women and girls, who comprise 70% of participants. Funded by a $25 million donation, the program will run until 2030 and includes courses across various education levels. Instructure's Canvas Learning Management System will support this ambitious effort to enhance access to quality education globally.
Instructure has released its annual global report on higher education, highlighting key trends affecting student success. The report, based on feedback from over 7,500 participants, emphasizes the demand for flexibility in course offerings and the importance of career readiness. Notably, 62% of students prefer online courses, while 71% view work readiness as crucial. Furthermore, there is a growing demand for competency-based learning, with 66% of respondents prioritizing this approach. The study also stresses the significance of mental health support and addressing the digital divide in enhancing student engagement.
Instructure has entered a multi-year agreement with the Missouri Research and Education Network (MOREnet) to enhance data integration for K-12 districts across Missouri. The partnership will implement Instructure's Elevate Data Hub, enabling streamlined analytics and improved student outcomes through interactive visualization tools. Currently, around 350,000 users benefit from Instructure's Canvas LMS. This initiative supports nearly 500 school districts, serving over 827,000 students, and aims to address challenges in data management using Ed-Fi standards.
Instructure Holdings, Inc. (NYSE: INST) will announce its financial results for the third quarter ending September 30, 2022, on November 1, 2022, after market close. A conference call is scheduled for 3:00 PM MT (5:00 PM ET) on the same day to discuss the results. Investors can access the call by phone or through a live webcast on Instructure's investor relations page. Interested parties can also listen to a replay available until November 8, 2022, at 9:59 PM MT.
Instructure has partnered with Google to enhance Google Classroom through the integration of Elevate Data Sync. This collaboration allows educational institutions using Google Workspace for Education Plus to synchronize course data and rosters, automating class setups without manual input. The integration is available in 15 countries and aims to save time for educators and students. Key features include automatic class creation and updates, supporting various student information systems via OneRoster or CSV files.
Instructure Holdings, Inc. (NYSE: INST) will have CEO Steve Daly present at the Citi Global Technology Conference on September 9, 2022, at 9:45 a.m. ET. The live webcast can be accessed via ir.instructure.com, with an archived replay available for a limited time. Instructure is an education technology company committed to enhancing student success and empowering educators globally.
Instructure has appointed Brian Cully as Senior Vice President of Corporate Development and Justin Beck as Senior Vice President of North America Sales. Cully, with over a decade in investment banking, will focus on mergers and acquisitions strategy, reporting to Chief Strategy Officer Mitch Benson. Beck, formerly from Salesforce.org, will lead North America sales, overseeing a team of over 150. These appointments aim to enhance the Instructure Learning Platform and drive growth in both K-12 and higher education sectors.
Instructure released a study in collaboration with Hanover Research, analyzing the perceptions of 114 higher education students in Louisiana. The research shows a strong emphasis on career readiness, with 79% of respondents prioritizing it as key to success. Hybrid and online learning preferences are growing, with 43% favoring hybrid options. Holistic development is also crucial, with 94% valuing skills like self-discipline and communication. The impacts of COVID-19 on student engagement remain significant, but optimism is rising, with access to technology identified as essential for success.