Instructure (INST) 10-Q 1 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 30, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Entity Registrant Name	Instructure Holdings, Inc.
Entity Central Index Key	0001841804
Entity File Number	001-40647
Entity Tax Identification Number	84-4325548
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address Address Line1	6330 South 3000 East
Entity Address, Address Line Two	Suite 700
Entity Address City Or Town	Salt Lake City
Entity Address, State and Province	UT
Entity Incorporation State Country Code	DE
Entity Address Postal Zip Code	84121
Local Phone Number	203-6755
City Area Code	800
Security12b Title	Common Stock, par value $0.01 per share
Trading Symbol	INST
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		144,696,156

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and equivalents	$ 304,858	$ 185,954
Accounts receivable net	92,708	71,428
Prepaid expenses	18,244	11,120
Deferred commissions	14,363	13,390
Other current assets	4,125	3,144
Total current assets	434,298	285,036
Property and equipment, net	13,656	12,380
Right-of-use assets	10,227	13,575
Goodwill	1,265,316	1,266,402
Intangible assets, net	435,442	542,679
Noncurrent prepaid expenses	5,253	871
Deferred commissions, net of current portion	14,912	18,781
Deferred tax assets	8,389	8,143
Other assets	7,710	5,622
Total assets	2,195,203	2,153,489
Current liabilities:
Accounts payable	18,539	18,792
Accrued liabilities	21,162	28,483
Lease liabilities	7,355	7,205
Long-term debt, current	4,013	4,013
Deferred revenue	334,404	275,564
Total current liabilities	385,473	334,057
Long-term debt, net of current portion	483,385	486,471
Deferred revenue, net of current portion	12,700	13,816
Lease liabilities, net of current portion	11,090	16,610
Deferred tax liabilities	16,069	24,702
Other long-term liabilities	4,226	1,706
Total liabilities	912,943	877,362
Stockholders’ equity:
Common stock, par value $0.01 per share; 500,000 shares authorized as of September 30, 2023 (unaudited) and December 31, 2022; 144,696 and 142,917 shares issued and outstanding as of September 30, 2023 (unaudited) and December 31, 2022, respectively.	1,447	1,429
Additional paid-in capital	1,610,026	1,575,600
Accumulated deficit	(329,213)	(300,902)
Total stockholders’ equity	1,282,260	1,276,127
Total liabilities and stockholders’ equity	$ 2,195,203	$ 2,153,489

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares, issued	144,696,000	142,917,000
Common stock, shares, outstanding	144,696,000	142,917,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Total revenue	$ 134,921	$ 122,429	$ 394,834	$ 350,468
Cost of revenue:
Total cost of revenue	47,427	44,073	138,548	127,482
Gross profit	87,494	78,356	256,286	222,986
Operating expenses:
Sales and marketing	46,734	45,737	149,743	134,943
Research and development	20,688	20,596	65,872	56,466
General and administrative	15,522	14,408	44,113	44,277
Total operating expenses	82,944	80,741	259,728	235,686
Income (loss) from operations	4,550	(2,385)	(3,442)	(12,700)
Other income (expense):
Interest income	1,360	303	3,021	366
Interest expense	(10,868)	(7,173)	(30,642)	(16,337)
Other income (expense)	(2,443)	(3,856)	(1,965)	(6,967)
Total other income (expense), net	(11,951)	(10,726)	(29,586)	(22,938)
Loss before income taxes	(7,401)	(13,111)	(33,028)	(35,638)
Income tax benefit	1,920	3,056	4,717	7,119
Net loss and comprehensive loss	$ (5,481)	$ (10,055)	$ (28,311)	$ (28,519)
Net loss per common share, basic	$ (0.04)	$ (0.07)	$ (0.2)	$ (0.2)
Net loss per common share, diluted	$ (0.04)	$ (0.07)	$ (0.2)	$ (0.2)
Weighted-average common shares outstanding--basic	144,222	142,108	143,665	141,536
Weighted-average common shares outstanding--diluted	144,222	142,108	143,665	141,536
Subscription and Support
Revenue:
Total revenue	$ 123,110	$ 109,727	$ 360,159	$ 316,124
Cost of revenue:
Total cost of revenue	40,345	37,005	117,532	108,419
Professional Services and Other
Revenue:
Total revenue	11,811	12,702	34,675	34,344
Cost of revenue:
Total cost of revenue	$ 7,082	$ 7,068	$ 21,016	$ 19,063

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2021	$ 1,274,385	$ 1,407	$ 1,539,638	$ (266,660)
Balance, shares at Dec. 31, 2021		140,741
Vesting of restricted stock units, net		$ 15	(15)
Vesting of restricted stock units, shares		1,498
Purchase of ESPP shares	7,327	$ 5	7,322
Purchase of ESPP shares, Shares		418
Shares withheld for tax withholding on vesting of restricted stock units	(3,333)	$ (2)	(3,331)
Shares withheld for tax withholding on vesting of restricted stock units, shares		(154)
Stock-based compensation	24,948		24,948
Net Income (Loss)	(28,519)			(28,519)
Balance at Sep. 30, 2022	1,274,808	$ 1,425	1,568,562	(295,179)
Balance, shares at Sep. 30, 2022		142,503
Balance at Jun. 30, 2022	1,274,488	$ 1,419	1,558,193	(285,124)
Balance, shares at Jun. 30, 2022		141,914
Vesting of restricted stock units, net		$ 5	(5)
Vesting of restricted stock units, shares		484
Purchase of ESPP shares	3,251	$ 2	3,249
Purchase of ESPP shares, Shares		178
Shares withheld for tax withholding on vesting of restricted stock units	(1,645)	$ (1)	(1,644)
Shares withheld for tax withholding on vesting of restricted stock units, shares		(73)
Stock-based compensation	8,769		8,769
Net Income (Loss)	(10,055)			(10,055)
Balance at Sep. 30, 2022	1,274,808	$ 1,425	1,568,562	(295,179)
Balance, shares at Sep. 30, 2022		142,503
Balance at Dec. 31, 2022	1,276,127	$ 1,429	1,575,600	(300,902)
Balance, shares at Dec. 31, 2022		142,917
Vesting of restricted stock units, net		$ 18	(18)
Vesting of restricted stock units, shares		1,674
Purchase of ESPP shares	6,017	$ 3	6,014
Purchase of ESPP shares, Shares		300
Shares withheld for tax withholding on vesting of restricted stock units	(4,946)	$ (3)	(4,943)
Shares withheld for tax withholding on vesting of restricted stock units, shares		(195)
Stock-based compensation	33,373		33,373
Net Income (Loss)	(28,311)			(28,311)
Balance at Sep. 30, 2023	1,282,260	$ 1,447	1,610,026	(329,213)
Balance, shares at Sep. 30, 2023		144,696
Balance at Jun. 30, 2023	1,275,117	$ 1,440	1,597,409	(323,732)
Balance, shares at Jun. 30, 2023		143,991
Vesting of restricted stock units, net		$ 7	(7)
Vesting of restricted stock units, shares		653
Purchase of ESPP shares	2,722	$ 1	2,721
Purchase of ESPP shares, Shares		127
Shares withheld for tax withholding on vesting of restricted stock units	(1,960)	$ (1)	(1,959)
Shares withheld for tax withholding on vesting of restricted stock units, shares		(75)
Stock-based compensation	11,862		11,862
Net Income (Loss)	(5,481)			(5,481)
Balance at Sep. 30, 2023	$ 1,282,260	$ 1,447	$ 1,610,026	$ (329,213)
Balance, shares at Sep. 30, 2023		144,696

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net loss	$ (28,311)	$ (28,519)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property and equipment	3,481	3,145
Amortization of intangible assets	107,237	102,195
Amortization of deferred financing costs	889	881
Stock-based compensation	32,986	24,670
Deferred income taxes	(7,793)	(10,064)
Other	2,853	4,917
Changes in assets and liabilities:
Accounts receivable, net	(22,597)	(20,357)
Prepaid expenses and other assets	(15,250)	(10,941)
Deferred commissions	2,896	(1,333)
Right-of-use assets	3,348	3,638
Accounts payable and accrued liabilities	(7,565)	(2,395)
Deferred revenue	57,724	62,621
Lease liabilities	(5,370)	(5,343)
Other liabilities	2,520	(1,641)
Net cash provided by operating activities	127,048	121,474
Investing activities:
Purchases of property and equipment	(4,708)	(4,979)
Proceeds from sale of property and equipment	42	41
Business acquisitions, net of cash received	0	(19,484)
Net cash used in investing activities	(4,666)	(24,422)
Financing activities:
Proceeds from issuance of common stock from employee equity plans	6,018	7,327
Shares repurchased for tax withholdings on vesting of restricted stock units	(4,949)	(3,333)
Payments for financing costs	(84)	0
Repayments on long-term debt	(3,750)	(2,500)
Net cash provided by (used in) financing activities	(2,765)	1,494
Foreign currency impacts on cash, cash equivalents, and restricted cash	(1,246)	(4,256)
Net increase in cash, cash equivalents, and restricted cash	118,371	94,290
Cash, cash equivalents, and restricted cash, beginning of period	190,266	169,152
Cash, cash equivalents, and restricted cash, end of period	308,637	263,442
Supplemental cash flow disclosure:
Cash paid for taxes	2,657	3,034
Interest paid	31,455	9,950
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	75	20
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and equivalents	304,858	259,161
Restricted Cash	3,779	4,281
Total cash, cash equivalents, and restricted cash	$ 308,637	$ 263,442

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (5,481)	$ (10,055)	$ (28,311)	$ (28,519)

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	1. Description of Business and Basis of Presentation Organization On March 24, 2020, Instructure Parent, L.P. (“TopCo”) acquired 100 percent of Instructure, Inc.’s equity. Instructure Intermediate Holdings I, Inc. was a wholly-owned subsidiary of TopCo and was formed on January 14, 2020 by Thoma Bravo Fund XIII, L.P. (“Thoma Bravo”) for the purpose of purchasing (the “Take-Private Transaction”) Instructure, Inc. and had no operations prior to the Take-Private Transaction. On May 26, 2021, Instructure Intermediate Holdings I, Inc. changed its name to Instructure Holdings, Inc. (the “Company,” “Instructure,” “we,” “our,” or “us”). Instructure is an education technology company dedicated to elevating student access, amplifying the power of teaching, and inspiring everyone to learn together. Instructure’s learning platform delivers a next-generation learning management system (“LMS”), robust assessments for learning, actionable analytics, and engaging, dynamic content. Instructure offers its learning platform through a Software-as-a-Service, or SaaS, business model. Instructure, Inc. was incorporated in the state of Delaware in September 2008. We are headquartered in Salt Lake City, Utah, and have wholly-owned subsidiaries in the United Kingdom, Australia, the Netherlands, Hong Kong, Sweden, Brazil, Mexico, Hungary, and Singapore. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) applicable to interim periods, under the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management, we have prepared the accompanying unaudited condensed consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2022, and these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2023. The year-end balance sheet data was derived from audited financial statements, but the interim condensed consolidated balance sheet included in this Form 10-Q does not include all disclosures required under U.S. GAAP. Certain information and note disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been omitted under the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 17, 2023 (the “2022 10-K”). Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Such estimates, which we evaluate on an on-going basis, include provisions for credit losses, useful lives for property and equipment and intangible assets, valuation allowances for net deferred income tax assets, valuation of stock-based compensation, acquisition related estimates, our assessment for impairment of goodwill, intangible assets, and other long-lived assets, the standalone selling price of performance obligations, timing of professional services revenue recognition, and the determination of the period of benefit for deferred commissions. We base our estimates on historical experience and on various other assumptions which we believe to be reasonable. Operating Segments We operate in a single operating segment: cloud-based learning management, assessment and performance systems. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision makers (“CODMs”), which are our chief executive officer and chief financial officer, in deciding how to allocate resources and assess performance. Our CODMs evaluate our financial information and resources and assess the performance of these resources on a consolidated basis. Since we operate in one operating segment, all required financial segment information can be found in the condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies A summary of the Company’s significant accounting policies is discussed in “Note 1 – Description of Business and Summary of Significant Accounting Policies” of the 2022 10-K. There have been no significant changes to these policies during the unaudited nine months ended September 30, 2023. Recent Accounting Pronouncements Adopted accounting pronouncements Effective January 1, 2022, the Company adopted Accounting Standards Update (“ASU”) No. 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing transactions. Upon adoption a lessor is required to classify a lease with variable lease payments (that do not depend on a rate or index) as an operating lease on the commencement date if classifying the lease as a sales-type or direct financing lease would result in a selling loss. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and related notes. Effective January 1, 2022, the Company adopted ASU No. 2021-01, Reference Rate Reform (Topic 848), which refined the scope of Topic 848 and clarified some of its provisions. The amendments permit entities to elect certain optional expedients and exceptions when accounting for derivative contracts and certain hedging relationships affected by the discounting transition. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and related notes. For additional information related to this ASU, see Note 7. “Credit Facility” in the notes to these condensed consolidated financial statements. Effective January 1, 2022, the Company adopted ASU No. 2021-08, Business Combinations (Topic 805), which requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Revenue from Contracts with Customers (Topic 606). The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and related notes. Issued accounting pronouncements There have been no recent accounting pronouncements issued which are expected to have a material effect on the Company’s condensed consolidated financial statements. Management continues to monitor and review recently issued accounting guidance upon issuance.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	3. Net Loss Per Share A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows (in thousands, except per share amounts): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Numerator: Net loss $ ( 5,481 ) $ ( 10,055 ) $ ( 28,311 ) $ ( 28,519 ) Denominator: Weighted-average common shares outstanding—basic 144,222 142,108 143,665 141,536 Dilutive effect of share equivalents resulting from unvested restricted stock units and shares for issuance under employee stock purchase plan — — — — Weighted-average common shares outstanding—diluted 144,222 142,108 143,665 141,536 Net loss per common share, basic and diluted $ ( 0.04 ) $ ( 0.07 ) $ ( 0.20 ) $ ( 0.20 ) For the unaudited three and nine months ended September 30, 2023, we incurred net losses and, therefore, the effect of our restricted stock units (“RSUs”) and of shares issuable under the employee stock purchase plan were not included in the calculation of diluted net loss per share as the effect would be anti-dilutive. We also incurred losses in the unaudited three and nine months ended September 30, 2022 . T he following table contains share totals with a potentially dilutive impact (in thousands): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Restricted stock units 5,222 5,204 5,222 5,204 Shares issuable under employee stock purchase plan 33 35 33 35 Total 5,255 5,239 5,255 5,239

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combinations [Abstract]
Acquisitions	5. Acquisitions 2022 Acquisitions On April 13, 2022, we acquired all outstanding shares of Concentric Sky, Inc. (“Concentric Sky,” which was rebranded to “Canvas Credentials” subsequent to acquisition) for the purpose of our continued commitment to building the education industry’s most integrated teaching and learning platform to support lifelong learning. $ 0.5 million of the purchase price was held back for a period of 90 days following the acquisition for working capital adjustments. The amount held back had been paid in full as of December 31, 2022. The acquisition did not have a material effect on our revenue or earnings in the condensed consolidated statements of operations and comprehensive loss for the reporting periods presented. For tax purposes, a 338(h)(10) election was filed to step up the tax basis of assets acquired to fair market value. The final allocation of the purchase price was as follows (in thousands): Consideration transferred Cash paid $ 20,814 Holdback amount 500 Total purchase consideration $ 21,314 Identifiable assets acquired Cash $ 1,330 Accounts receivable 1,018 Prepaid expenses and other assets 109 Intangible assets: developed technology 3,900 Intangible assets: customer relationships 9,100 Total assets acquired $ 15,457 Liabilities assumed Accounts payable and accrued liabilities $ 1,335 Deferred revenue 2,566 Total liabilities assumed $ 3,901 Goodwill 9,758 Total purchase consideration $ 21,314 On December 15, 2022, we acquired all outstanding shares of LearnPlatform, Inc. (“LearnPlatform” ) to accelerate the impact of the Instructure learning platform for schools, universities, and shared partner providers by adding evidence-based insight into inventory, compliance, procurement, and usage. $ 0.2 million of the purchase price was held back for a period of 90 days following the acquisition for working capital adjustments. The amount held back had been paid in full as of March 31, 2023. The acquisition did not have a material effect on our revenue or earnings in the condensed consolidated statements of operations and comprehensive loss for the reporting periods presented. At the time of the acquisition, we recorded a provisional net deferred tax liability of $ 3.4 million in purchase accounting due to the step up in book basis of intangible assets as a result of the stock acquisition. We expect the net deferred tax liability to decrease as book amortization expense is recognized on the acquisition-related intangible assets. During the third quarter of 2023, an adjustment of $ 1.1 million was made to the provisional net deferred tax liability, with a corresponding decrease to goodwill, in connection with the completion of the LearnPlatform tax filings for the period ending December 15, 2022. The final allocation of the purchase price was as follows (in thousands): Consideration transferred Cash paid $ 93,825 Holdback amount 150 Total purchase consideration $ 93,975 Identifiable assets acquired Cash $ 4,297 Accounts receivable 1,306 Prepaid expenses and other assets 373 Right-of-use asset 288 Deferred tax asset 1,020 Intangible assets: developed technology 7,600 Intangible assets: customer relationships 28,700 Intangible assets: trade names and trademarks 300 Intangible assets: non-compete agreements 50 Total assets acquired $ 43,934 Liabilities assumed Accounts payable and accrued liabilities $ 767 Deferred revenue 6,900 Lease liabilities 288 Deferred tax liabilities 3,341 Total liabilities assumed $ 11,296 Goodwill 61,337 Total purchase consideration $ 93,975 For all periods presented, the excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill, of which $ 9.7 million is expected to be deductible for tax purposes from the Canvas Credentials acquisition . The goodwill generated from all transactions is attributable to the expected synergies to be achieved upon consummation of the business combinations and the assembled workforce values. The fair values assigned to tangible and identifiable intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions. Developed technology represents the estimated fair value of the acquired existing technology and is being amortized over its estimated useful life of five years . Amortization of developed technology is included in subscription and support cost of revenue expenses in the accompanying condensed consolidated statements of operations and comprehensive loss. Customer relationships represent the estimated fair value of the acquired customer bases and are amortized over the estimated useful life of seven years . The trade names acquired are amortized over the estimated useful life of one to ten years . Amortization of customer relationships and trade names is included in sales and marketing expenses in the accompanying condensed consolidated statements of operations and comprehensive loss. Non-compete agreements are amortized over an estimated useful life of three years and amortization is included in research and development expenses in the accompanying condensed consolidated statements of operations and comprehensive loss.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consisted of the following (in thousands): September 30, December 31, 2023 2022 (unaudited) Computer and office equipment $ 5,436 $ 5,528 Capitalized software development costs 12,699 8,585 Furniture and fixtures 1,420 1,589 Leasehold improvements and other 6,283 6,970 Total property and equipment 25,838 22,672 Less accumulated depreciation and amortization ( 12,182 ) ( 10,292 ) Total $ 13,656 $ 12,380 Accumulated amortization for capitalized software development costs was $ 4.1 million and $ 2.4 million at September 30, 2023 (unaudited) and December 31, 2022, respectively. Amortization expense for capitalized software development costs for the unaudited three and nine months ended September 30, 2023 was $ 0.7 million and $ 1.8 million, respectively, and $ 0.4 million and $ 1.0 million for the unaudited three and nine months ended September 30, 2022 , respectively, and is recorded within subscription and support cost of revenue on the condensed consolidated statements of operations and comprehensive loss.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets Goodwill activity was as follows (in thousands): Total Balance as of December 31, 2022 $ 1,266,402 Reductions - see Note 5. “Acquisitions” ( 1,086 ) Balance as of September 30, 2023 (unaudited) $ 1,265,316 Intangible assets consisted of the following (in thousands): Weighted-Average Remaining September 30, 2023 December 31, 2022 Gross Accumulated Amortization Net Gross Accumulated Amortization Net (unaudited) Software 0 Months $ 21 $ ( 21 ) $ — $ 21 $ ( 20 ) $ 1 Trade names 77 Months 126,100 ( 45,996 ) 80,104 126,100 ( 35,936 ) 90,164 Developed technology 23 Months 325,300 ( 216,398 ) 108,902 325,300 ( 167,600 ) 157,700 Customer relationships 48 Months 451,400 ( 205,001 ) 246,399 451,400 ( 156,635 ) 294,765 Non-compete agreements 27 Months 50 ( 13 ) 37 50 ( 1 ) 49 Total $ 902,871 $ ( 467,429 ) $ 435,442 $ 902,871 $ ( 360,192 ) $ 542,679 Amortization expense for intangible assets was $ 35.7 million and $ 107.2 million for the unaudited three and nine months ended September 30, 2023, respectively, and $ 34.3 million and $ 102.2 million for the unaudited three and nine months ended September 30, 2022, respectively. Based on the recorded intangible assets at September 30, 2023 (unaudited), estimated amortization expense is expected to be as follows (in thousands): Amortization Expense Years Ending December 31, (unaudited) Remainder of 2023 $ 35,731 2024 142,442 2025 99,729 2026 79,625 2027 40,682 2028 and thereafter 37,233 Total $ 435,442

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2023
Line of Credit Facility [Abstract]
Credit Facility	7. Credit Facility On March 24, 2020, we entered into a credit agreement with a syndicate of lenders and Golub Capital Markets LLC, as administrative agent and collateral agent, and Golub Capital Markets LLC and Owl Rock Capital Advisors LLC, as joint bookrunners and joint lead arrangers (the “Credit Agreement”). The Credit Agreement provided for a senior secured term loan facility (the “Initial Term Loan”) in an original aggregate principal amount of $ 775.0 million, which was supplemented by an incremental term loan pursuant to the First Incremental Amendment and Waiver to Credit Agreement, dated as of December 22, 2020, in a principal amount of $ 70.0 million (the “Incremental Term Loan” and, together with the Initial Term Loan, the “Term Loan”). The maturity date for the Term Loan was March 24, 2026 , with the remaining principal due in full on the maturity date. The Credit Agreement also provided for a senior secured revolving credit facility in an aggregate principal amount of $ 50.0 million (the “Revolving Credit Facility” and, together with the Term Loan, the “Credit Facilities”). The Revolving Credit Facility included a $ 10.0 million sublimit for the issuance of letters of credit. On October 29, 2021, we entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, (the “2021 Credit Agreement”) governing our senior secured credit facilities (the “Senior Secured Credit Facilities”), consisting of a $ 500.0 million senior secured term loan facility (the “Senior Term Loan”) and a $ 125.0 million senior secured revolving credit facility (the “Senior Revolver”). The proceeds from the Senior Secured Credit Facilities were used, in addition to cash on hand, to (1) refinance, in full, all existing indebtedness under the Credit Agreement (the “Refinancing”), (2) pay certain fees and expenses incurred in connection with the entry into the 2021 Credit Agreement and the Refinancing, and (3) finance working capital needs of the Company and its subsidiaries for general corporate purposes. All of the Company’ s obligations under the Senior Secured Credit Facilities are guaranteed by the subsidiary guarantors named therein. The Senior Revolver includes a $ 10.0 million sublimit for the issuance of letters of credit. Any issuance of letters of credit will reduce the amount available under the Senior Revolver. As of September 30, 2023 (unaudited), we had no outstanding borrowings under our Senior Revolver. The Senior Term Loan has a seven-year maturity and the Senior Revolver has a five-year maturity. Commencing June 30, 2022, we were required to repay the Senior Term Loan portion of the Senior Secured Credit Facilities in quarterly principal installments of 0.25 % of the aggregate original principal amount of the Senior Term Loan at closing, with the balance payable at maturity. Borrowings under the Senior Secured Credit Facilities bear interest, at the Company ’ s option, at: (i) Base Rate equal to the greater of (a) the Federal Funds Rate plus 1/2 of 1.00 %, (b) the rate of interest in effect for such day as publicly announced from time to time by the administrative agent as its “prime rate,” (c) a Eurocurrency Rate for such date plus 1.00 % and (d) 1.00 %; or (ii) the Eurocurrency Rate (provided that the Eurocurrency Rate applicable to the Senior Term Loan shall not be less than 0.50 % per annum). The Applicable Rate for the Senior Term Loan with respect to Eurocurrency Rate Loans is 2.75 % per annum and 1.75 % per annum for Base Rate Loans. The Applicable Rate for the Senior Revolver with respect to Eurocurrency Rate Loans, SONIA Loans, and Alternative Currency Term Rate Loans ranges from 2.00 % to 2.5 % subject to the Company ’ s Consolidated First Lien Net Leverage Ratio, while the Applicable Rate for Base Rate Loans ranges from 1.00 % to 1.50 % subject to the Company ’ s Consolidated First Lien Net Leverage Ratio. We are also required to pay an unused commitment fee to the lenders under the Senior Revolver at the Applicable Commitment Fee of the average daily unutilized commitments. The Applicable Commitment Fee ranges from 0.40 % to 0.50 % subject to the Company ’s Consolidated First Lien Net Leverage Ratio. On June 21, 2023, we entered into the first amendment to the 2021 Credit Agreement (the “Amended 2021 Credit Agreement”) whereby all borrowings denominated in U.S. dollars and that incur interest or fees using the Eurocurrency Rate, which are determined by reference to the London Interbank Offered Rate (“LIBOR”), have been replaced with the Secured Overnight Financing Rate (“SOFR”). For SOFR loans, the loans denominated in dollars now bear interest at the Adjusted Term SOFR Rate, which is equal to the Term SOFR Reference Rate, as published by the CME Term SOFR Administrator, plus the Term SOFR Adjustment as dictated by the interest rate period elected by the Company. The Term SOFR Adjustment ranges from 0.11448 % to 0.42826 % per annum. The Applicable Rate (x) for the Initial Term Loans remains at 2.75 % per annum for SOFR loans and (y) for the Revolving Credit Facility remains at 2.50 % per annum with applicable step downs. The transition from LIBOR to SOFR became effective on July 5, 2023. All other terms and conditions in place under the 2021 Credit Agreement on the effective date of the Amended 2021 Credit Agreement remained unchanged and in full effect. All terms are defined within the Amended 2021 Credit Agreement, found in the Exhibit Index. The Amended 2021 Credit Agreement contains a financial covenant solely with respect to the Senior Revolver. If the outstanding amounts under the Senior Revolver exceed 35 % of the aggregate amount of the Senior Revolver commitments, we are required to maintain at the end of each fiscal quarter a Consolidated Net Leverage Ratio of not more than 7.75 to 1.00 . As of September 30, 2023 (unaudited), there was no amount outstanding under the Senior Revolver. The Company had $ 125.0 million of availability under the Senior Revolver as of September 30, 2023 (unaudited). As a result of the Refinancing, the Company capitalized $ 1.0 million and $ 5.9 million of debt discount costs incurred in connection with the Senior Term Loan in long-term debt, current and long-term debt, net of current portion, respectively, on the condensed consolidated balance sheets. The Company recognized $ 0.3 million and $ 0.8 million of amortization of debt discount costs for the unaudited three and nine months ended September 30, 2023, respectively, and $ 0.2 million and $ 0.7 million for the unaudited three and nine months ended September 30, 2022, respectively, which is recorded as interest expense in the accompanying condensed consolidated statements of operations and comprehensive loss. At September 30, 2023 (unaudited) and December 31, 2022 the Company had an aggregate principal amount outstanding of $ 492.5 million and $ 496.3 million, respectively, under the Senior Term Loan, bearing interest at 8.68 % and 6.12 % , respectively. The Company had $ 5.1 million and $ 5.8 million of unamortized debt discount costs at September 30, 2023 (unaudited) and December 31, 2022, respectively, which is recorded as a reduction of the debt balance on the Company’s condensed consolidated balance sheets. As a result of the Refinancing, the Company capitalized $ 0.2 million and $ 0.8 million of deferred issuance costs incurred in connection with the Senior Revolver in other current assets and other assets, respectively, on the condensed consolidated balance sheets. The Company recognized $ 47.0 thousand and $ 0.1 million of amortization of debt issuance costs for the unaudited three and nine months ended September 30, 2023, respectively, and $ 47.0 thousand and $ 0.1 million for the unaudited three and nine months ended September 30, 2022, respectively, which is recorded as interest expense in the accompanying condensed consolidated statements of operations and comprehensive loss. The Company had $ 0.6 million and $ 0.7 million of unamortized debt issuance costs at September 30, 2023 (unaudited) and December 31, 2022, respectively, which are included in other current assets and other assets on the Company’s condensed consolidated balance sheets. The Senior Secured Credit Facilities contain customary negative covenants. At September 30, 2023 (unaudited), the Company was in compliance with all applicable covenants pertaining to the Senior Secured Credit Facilities. The maturities of outstanding debt as of September 30, 2023 (unaudited) are as follows (in thousands): Amount Years Ending December 31, (unaudited) Remainder of 2023 $ 1,250 2024 5,000 2025 5,000 2026 5,000 2027 5,000 Thereafter 471,250 Total $ 492,500

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Geographic Areas, Revenues from External Customers [Abstract]
Geographic Data and Revenue	8. Revenue We have one operating segment, which is our cloud-based learning, assessment, development and engagement systems. Historically, we have generated revenues from our Education customer base. Education customers consist of K-12 and Higher Education institutions that purchase our Canvas LMS, which includes assessments, analytics and learning content. The following table presents the Company’s disaggregated revenues by geographic region, based on the physical location of the customer (in thousands): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) United States $ 107,583 $ 97,567 $ 314,547 $ 278,631 Foreign 27,338 24,862 80,287 71,837 Total revenue $ 134,921 $ 122,429 $ 394,834 $ 350,468 Percentage of revenue generated outside of the United States 20 % 20 % 20 % 20 % Deferred Revenue and Performance Obligations During the unaudited three and nine months ended September 30, 2023 , 80 % and 64 % of revenue recognized was included in our deferred revenue balance at June 30, 2023 (unaudited), and December 31, 2022, respectively. During the unaudited three and nine months ended September 30, 2022, 76 % and 64 % , respectively, of revenue recognized was included in our deferred revenue balance at June 30, 2022 (unaudited), and December 31, 2021, respectively. Transaction Price Allocated to the Remaining Performance Obligations As of September 30, 2023 (unaudited), approximately $ 862.9 million of revenue is expected to be recognized from remaining performance obligations. We expect to recognize revenue on approximately 75 % of our remaining performance obligations over the next 24 months , with the balance recognized thereafter. Concentration of Credit Risk, Significant Customers and Provision for Credit Losses There were no customers with revenue as a percentage of total revenue exceeding 10 % for the periods presented. As of September 30, 2023 (unaudited) our largest customer’s outstanding net accounts receivable balance as a percentage of total outstanding net accounts receivable represented 15.5 % . There were no other customers with outstanding net accounts receivable balances as a percentage of total outstanding net accounts receivable greater than 10 % as of September 30, 2023. As of December 31, 2022 , there were no customers with outstanding net accounts receivable balances as a percentage of total outstanding net accounts receivable greater than 10 %. Our provisions for credit loss balances at September 30, 2023 (unaudited) and December 31, 2022 were $ 2.0 million and $ 1.5 million, respectively.

Deferred Commissions

Deferred Commissions	9 Months Ended
	Sep. 30, 2023
Deferred Costs [Abstract]
Deferred Commissions Disclosure	9. Deferred Commissions Deferred commissions primarily consist of sales commissions that are capitalized as incremental contract origination costs and were $ 29.3 million and $ 32.2 million as of September 30, 2023 (unaudited) and December 31, 2022, respectively. Amortization expense for deferred commissions was $ 4.4 million and $ 14.5 million for the unaudited three and nine months ended September 30, 2023, respectively, and $ 4.4 million and $ 11.6 million for the unaudited three and nine months ended September 30, 2022 , respectively. There was no impairment of deferred commissions during these periods.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation As of September 30, 2023 (unaudited) and December 31, 2022 , there were 500,000,000 shares of common stock authorized. As of September 30, 2023 (unaudited) and December 31, 2022, there were 144,696,156 and 142,917,080 shares of common stock issued and outstanding, respectively. Employee Equity Plans In April 2020, as part of the Take-Private Transaction, the board of managers of TopCo approved the Instructure Parent, LP Incentive Equity Plan (the “2020 Plan”) and the Instructure Co-Invest Agreement (the “Co-Invest Agreement”) to incentivize employees and to align the employees and management with the owners of the business. The 2020 Plan was terminated in July 2021 in connection with the initial public offering (the “IPO”). No further equity awards were granted under the 2020 Plan subsequent to the IPO. As of the IPO date, 2,271,698 vested incentive units under the 2020 Plan converted to 1,305,738 shares of the Company ’ s common stock and were released to the unit holders, and 6,126,802 unvested incentive units under the 2020 Plan were exchanged for 3,496,739 RSUs under the 2021 Plan. The RSUs will generally vest in 11 equal quarterly installments which commenced on September 1, 2021. In July 2021, our board of directors adopted the 2021 Omnibus Incentive Plan (the “2021 Plan”), which serves as the successor to the 2020 Plan. Accordingly, no shares remain available for issuance under the 2020 Plan. A total of 18,000,000 shares of the Company ’s common stock were initially reserved for issuance under the 2021 Plan. Pursuant to the terms of the 2021 Plan, the share reserve increased by 5,629,623 shares in January 2022 and 5,716,683 shares in January 2023. As of September 30, 2023, we had 19,827,266 shares of common stock available for future grants under the 2021 Plan. In July 2021, our board of directors adopted, and our stockholders approved the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which allows eligible employees to purchase shares of our common stock at a discount through payroll deductions of up to 15 % of their eligible compensation, subject to any plan limitations. The initial offering period ended on February 28, 2022. Each new offering period begins on or about March 1 and September 1 and is approximately six months in duration. On each purchase date, eligible employees will purchase our common stock at a price per share equal to 85 % of the lesser of (1) the fair market value of our common stock on the offering date or (2) the fair market value of our common stock on the purchase date. A total of 1,900,000 shares of the Company’s common stock were initially reserved for issuance under the 2021 ESPP. Pursuant to the terms of the 2021 ESPP, the share reserve increased by 1,407,406 shares in January 2022 and 1,429,171 shares in January 2023. As of September 30, 2023 (unaudited), 4,018,556 shares of common stock were available for purchase under the 2021 ESPP. During the unaudited three months ended September 30, 2023, we granted 153,795 RSUs to employees under the 2021 Plan. Each RSU entitles the recipient to receive one share of the Company ’s common stock upon vesting. The RSUs are subject to time-based service requirements and generally vest over a four-year service period. The grant date fair value of the RSUs granted during the unaudited three months ended September 30, 2023 was $ 28.00 , which represents the closing stock price for the underlying common stock on the grant date, with an aggregate fair value of $ 4.3 million. The following two tables present stock-based compensation by award type and where the stock-based compensation expense was recorded in our condensed consolidated statements of operations and comprehensive loss (in thousands): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Options $ — $ — $ — $ 21 Restricted stock units 11,343 9,538 32,420 27,249 Shares issuable under employee stock purchase plan 412 522 1,201 1,653 Total stock-based compensation $ 11,755 $ 10,060 $ 33,621 $ 28,923 Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Subscription and support cost of revenue $ 459 $ 358 $ 1,312 $ 965 Professional services and other cost of revenue 603 451 1,639 1,292 Sales and marketing 3,145 2,813 9,142 8,162 Research and development 3,792 3,035 10,446 8,261 General and administrative 3,756 3,403 11,082 10,243 Total stock-based compensation $ 11,755 $ 10,060 $ 33,621 $ 28,923 In connection with the Take-Private Transaction on March 24, 2020, and except for certain executives, outstanding stock options and restricted stock units, and together with the stock options, “equity awards,” whether vested or unvested, were canceled and replaced with the right to receive $ 49.00 per share in cash, less the applicable exercise price per share and applicable withholding taxes (the “per share price”), with respect of each share of common stock underlying such award (“Cash Replacement Awards”). The per share price attributed to the unvested equity awards vests and is payable at the same time such equity awards would have vested pursuant to their original terms prior to the replacement. During the unaudited three and nine months ended September 30, 2023 the Company recognized $ 0.1 million and $ 0.6 million of stock-based compensation expense associated with Cash Replacement Awards, respectively, and $ 1.4 million and $ 4.3 million for the unaudited three and nine months ended September 30, 2022, respectively. Restricted Stock Units The following table summarizes the activity of RSUs for the unaudited nine months ended September 30, 2023 (in thousands, except per unit amounts): RSUs Weighted Average Grant Date Fair Value Per Unit Unvested and outstanding at December 31, 2022 3,437 $ 21.60 Granted 2,714 25.27 Vested ( 924 ) 22.32 Forfeited or canceled ( 570 ) 22.23 Unvested and outstanding at September 30, 2023 4,657 $ 23.53 As of September 30, 2023 (unaudited) and December 31, 2022, total unrecognized compensation cost related to unvested RSUs amounted to $ 100.0 million and $ 68.3 million, respectively, which is expected to be recognized over a weighted average period of 3.0 years and 3.1 years, respectively. The following table summarizes the activity of the incentive units granted under the 2020 Plan, subsequent to their conversion into RSUs under the 2021 Plan, for the unaudite d nine months ended September 30, 2023 (in thousands, except per unit amounts): RSUs Weighted Average Grant Date Fair Value Per Unit Unvested and outstanding at December 31, 2022 1,409 $ 10.72 Vested ( 750 ) 11.26 Forfeited or canceled ( 94 ) 11.08 Unvested and outstanding at September 30, 2023 565 $ 10.70 There were no incentive units granted subsequent to December 31, 2021. As of September 30, 2023 (unaudited) and December 31, 2022, we had $ 5.2 million and $ 14.2 million, respectively, of unrecognized stock-based compensation expense related to unvested incentive units exchanged for RSUs that are expected to be recognized over a weighted-average period of 0.6 and 1.3 years, respectively. 2021 ESPP The following table summarizes the assumptions relating to 2021 ESPP purchase rights used in a Black-Scholes option pricing model for the three months ended September 30, 2023 and 2022 (unaudited): Three months ended 2023 2022 Dividend yield None None Volatility 18 - 25 % 32 - 41 % Risk-free interest rate 5.20 - 5.47 % 0.6 - 3.34 % Expected life (years) 0.5 0.5

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Utilization of the net operating loss carryforwards and credits may be subject to substantial annual limitation due to the ownership change limitations provided by Section 382 of the Internal Revenue Code of 1986, as amended, and similar state provisions. The annual limitation may result in the expiration of net operating losses and credits before utilization. We file tax returns in the United States, the United Kingdom, Australia, the Netherlands, Hong Kong, Sweden, Brazil, Mexico, Hungary, China, Singapore and various state jurisdictions. All of our tax years remain open to examination by major taxing jurisdictions to which we are subject, as carryforward attributes generated in past years may still be adjusted upon examination by the Internal Revenue Service or state and foreign tax authorities if they have or will be used in future periods. We believe that we have provided adequate reserves for our income tax uncertainties in all open tax years. We do not expect our gross unrecognized tax benefits to change significantly in the next 12 months.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value of Financial Instruments	12. Fair Value of Financial Instruments The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. The fair value hierarchy prioritizes the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. There were no transfers between Level 1 and Level 2 of the fair value measurement hierarchy during the period ended September 30, 2023 (unaudited) and December 31, 2022. Instruments Not Recorded at Fair Value on a Recurring Basis We estimate the fair value of our Senior Term Loan carried at face value, less unamortized discount costs, quarterly for disclosure purposes. The estimated fair value of our Senior Term Loan is determined by Level 2 inputs, observable market-based inputs or unobservable inputs that are corroborated by market data. As of September 30, 2023 (unaudited), the fair value of our Senior Term Loan was $ 487.4 million. The carrying amounts of our cash, prepaid expenses, other current assets, and accrued liabilities approximate their current fair value because of their nature and relatively short maturity dates or durations.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	13. Leases The Company leases office space under non-cancelable operating leases with lease terms ranging from one to six years . These leases require monthly lease payments that may be subject to annual increases throughout the lease term. The Company subleases four of its locations. The first sublease expired in the second quarter of 2023, and the second, third, and fourth sublease terms had 63 months , 28 months , and 7 months remaining, as of September 30, 2023, respectively. None of the above subleases have an option for renewal. Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. Right-of-use assets also include adjustments related to prepaid or deferred lease payments and lease incentives. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on information available at the lease commencement date to determine the present value of lease payments. The Company performed evaluations of its contracts and determined that each of its identified leases are operating leases. The components of total lease costs were as follows (in thousands): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Operating lease cost, gross $ 1,641 $ 1,568 $ 4,938 $ 4,952 Variable lease cost, gross (1) 491 522 1,988 1,649 Sublease income ( 256 ) ( 352 ) ( 830 ) ( 893 ) Total lease costs (2) $ 1,876 $ 1,738 $ 6,096 $ 5,708 (1) Variable rent expense was not included within the measurement of the Company ’s operating right-of-use assets and lease liabilities. Variable rent expense is comprised primarily of the Company’s proportionate share of operating expenses, property taxes and insurance and is classified as lease expense due to the Company’ s election to not separate lease and non-lease components. (2) Short-term lease costs for the unaudited three and nine months ended September 30, 2023 and 2022 were not significant and are not included in the table above. Cash paid for amounts included in the measurement of operating lease liabilities for the unaudited three and nine months ended September 30, 2023 were $ 1.9 million and $ 6.5 million, respectively, and $ 2.0 million and $ 6.2 million for the unaudited three and nine months ended September 30, 2022, respectively, and were included in net cash used in operating activities in the condensed consolidated statements of cash flows. As of September 30, 2023 (unaudited), the maturities of the Company’s operating lease liabilities were as follows (in thousands): Remainder of 2023 $ 2,121 2024 8,523 2025 4,393 2026 2,787 2027 1,994 2028 and thereafter 1,098 Total lease payments 20,916 Less: Imputed interest ( 2,471 ) Lease liabilities 18,445 Tenant improvement reimbursements included in the measurement of lease liabilities but not yet received ( 414 ) Lease liabilities, net $ 18,031 As of September 30, 2023 (unaudited) and December 31, 2022, the weighted average remaining lease term was 3.1 and 3.6 years, respectively, and the weighted average discount rate used to determine operating lease liabilities was 8.21 % and 8.20 % as of September 30, 2023 (unaudited) and December 31, 2022 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Non-cancelable purchase obligations As of September 30, 2023 (unaudited), our outstanding non-cancelable purchase obligations with a term of 12 months or longer related to cloud infrastructure and business analytic services in the ordinary course of business totaled $ 2.9 million for fiscal year 2023, $ 49.2 million for fiscal year 2024, and $ 48.0 million for fiscal year 2025. During the unaudited three months ended September 30, 2023 , we recognized $ 12.4 million in subscription and support cost of revenue, $ 0.4 million in research and development, and $ 0.2 million in professional services and other cost of revenue in our condensed consolidated statements of operations and comprehensive loss related to our non-cancelable purchase obligations, and during the unaudited nine months ended September 30, 2023 we recognized $ 35.4 million in subscription and support cost of revenue, $ 1.4 million in research and development, $ 0.6 million in professional services and other cost of revenue, and $ 0.1 million in selling and marketing in our condensed consolidated statements of operations and comprehensive loss related to our non-cancelable purchase obligations. Letters of Credit and Collateral Arrangements As of September 30, 2023 (unaudited) and December 31, 2022, we had a total of $ 3.8 million and $ 4.3 million, respectively, of letters of credit outstanding that were issued for purposes of securing certain of the Company’s obligations under facility leases and other contractual cash collateral arrangements. Litigation We are involved in various legal proceedings and claims, including challenges to trademarks, from time to time arising in the normal course of business. If we determine that it is probable that a loss has been incurred and the amount is reasonably estimable, we will record a liability in our condensed consolidated financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. Although the results of litigation and claims are inherently unpredictable and uncertain, management does not believe that the outcome of our various legal proceedings, if determined adversely to us, individually or in the aggregate, would have a material impact on our financial position, results of operations, or liquidity.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related - Party Transactions	15. Related-Party Transactions The Company has agreements in place with Thoma Bravo, LLC for financial and management advisory services, along with compensation arrangements and reimbursements to directors and officers. During the unaudited three and nine months ended September 30, 2023 the Company incurred $ 0.1 million and $ 0.5 million of costs related to these services, respectively, and $ 0.2 million and $ 0.5 million for the unaudited three and nine months ended September 30, 2022, respectively. The related expense is reflected in general and administrative expense in the condensed consolidated statements of operations and comprehensive loss.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events On October 30, 2023, Instructure entered into a Unit Purchase Agreement with PCS Holdings, LLC (“Parchment”), an all cash transaction valued at $ 835.0 million. Instructure intends to finance the transaction with a combination of cash on hand and approximately $ 685.0 million of additional borrowing under its existing credit facility. The transaction is expected to close in the first quarter of 2024, subject to regulatory approval and customary closing conditions.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization On March 24, 2020, Instructure Parent, L.P. (“TopCo”) acquired 100 percent of Instructure, Inc.’s equity. Instructure Intermediate Holdings I, Inc. was a wholly-owned subsidiary of TopCo and was formed on January 14, 2020 by Thoma Bravo Fund XIII, L.P. (“Thoma Bravo”) for the purpose of purchasing (the “Take-Private Transaction”) Instructure, Inc. and had no operations prior to the Take-Private Transaction. On May 26, 2021, Instructure Intermediate Holdings I, Inc. changed its name to Instructure Holdings, Inc. (the “Company,” “Instructure,” “we,” “our,” or “us”). Instructure is an education technology company dedicated to elevating student access, amplifying the power of teaching, and inspiring everyone to learn together. Instructure’s learning platform delivers a next-generation learning management system (“LMS”), robust assessments for learning, actionable analytics, and engaging, dynamic content. Instructure offers its learning platform through a Software-as-a-Service, or SaaS, business model. Instructure, Inc. was incorporated in the state of Delaware in September 2008. We are headquartered in Salt Lake City, Utah, and have wholly-owned subsidiaries in the United Kingdom, Australia, the Netherlands, Hong Kong, Sweden, Brazil, Mexico, Hungary, and Singapore.
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) applicable to interim periods, under the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management, we have prepared the accompanying unaudited condensed consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2022, and these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2023. The year-end balance sheet data was derived from audited financial statements, but the interim condensed consolidated balance sheet included in this Form 10-Q does not include all disclosures required under U.S. GAAP. Certain information and note disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been omitted under the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 17, 2023 (the “2022 10-K”).
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Such estimates, which we evaluate on an on-going basis, include provisions for credit losses, useful lives for property and equipment and intangible assets, valuation allowances for net deferred income tax assets, valuation of stock-based compensation, acquisition related estimates, our assessment for impairment of goodwill, intangible assets, and other long-lived assets, the standalone selling price of performance obligations, timing of professional services revenue recognition, and the determination of the period of benefit for deferred commissions. We base our estimates on historical experience and on various other assumptions which we believe to be reasonable.
Operating Segments	Operating Segments We operate in a single operating segment: cloud-based learning management, assessment and performance systems. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision makers (“CODMs”), which are our chief executive officer and chief financial officer, in deciding how to allocate resources and assess performance. Our CODMs evaluate our financial information and resources and assess the performance of these resources on a consolidated basis. Since we operate in one operating segment, all required financial segment information can be found in the condensed consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted accounting pronouncements Effective January 1, 2022, the Company adopted Accounting Standards Update (“ASU”) No. 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing transactions. Upon adoption a lessor is required to classify a lease with variable lease payments (that do not depend on a rate or index) as an operating lease on the commencement date if classifying the lease as a sales-type or direct financing lease would result in a selling loss. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and related notes. Effective January 1, 2022, the Company adopted ASU No. 2021-01, Reference Rate Reform (Topic 848), which refined the scope of Topic 848 and clarified some of its provisions. The amendments permit entities to elect certain optional expedients and exceptions when accounting for derivative contracts and certain hedging relationships affected by the discounting transition. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and related notes. For additional information related to this ASU, see Note 7. “Credit Facility” in the notes to these condensed consolidated financial statements. Effective January 1, 2022, the Company adopted ASU No. 2021-08, Business Combinations (Topic 805), which requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Revenue from Contracts with Customers (Topic 606). The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and related notes. Issued accounting pronouncements There have been no recent accounting pronouncements issued which are expected to have a material effect on the Company’s condensed consolidated financial statements. Management continues to monitor and review recently issued accounting guidance upon issuance.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Reconciliation of the Denominator Used in the Calculation of Basic and Diluted Loss Per Share	A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows (in thousands, except per share amounts): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Numerator: Net loss $ ( 5,481 ) $ ( 10,055 ) $ ( 28,311 ) $ ( 28,519 ) Denominator: Weighted-average common shares outstanding—basic 144,222 142,108 143,665 141,536 Dilutive effect of share equivalents resulting from unvested restricted stock units and shares for issuance under employee stock purchase plan — — — — Weighted-average common shares outstanding—diluted 144,222 142,108 143,665 141,536 Net loss per common share, basic and diluted $ ( 0.04 ) $ ( 0.07 ) $ ( 0.20 ) $ ( 0.20 )
Summary of Shares Excluded from Calculation of Diluted Loss Per Share with a Potential Dilutive Impact	T he following table contains share totals with a potentially dilutive impact (in thousands): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Restricted stock units 5,222 5,204 5,222 5,204 Shares issuable under employee stock purchase plan 33 35 33 35 Total 5,255 5,239 5,255 5,239

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Concentric Sky, Inc [Member]
Business Acquisition [Line Items]
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	The final allocation of the purchase price was as follows (in thousands): Consideration transferred Cash paid $ 20,814 Holdback amount 500 Total purchase consideration $ 21,314 Identifiable assets acquired Cash $ 1,330 Accounts receivable 1,018 Prepaid expenses and other assets 109 Intangible assets: developed technology 3,900 Intangible assets: customer relationships 9,100 Total assets acquired $ 15,457 Liabilities assumed Accounts payable and accrued liabilities $ 1,335 Deferred revenue 2,566 Total liabilities assumed $ 3,901 Goodwill 9,758 Total purchase consideration $ 21,314
LearnPlatform, LLC [Member]
Business Acquisition [Line Items]
Schedule of Final Allocation of the Purchase Price	(in thousands): Consideration transferred Cash paid $ 93,825 Holdback amount 150 Total purchase consideration $ 93,975 Identifiable assets acquired Cash $ 4,297 Accounts receivable 1,306 Prepaid expenses and other assets 373 Right-of-use asset 288 Deferred tax asset 1,020 Intangible assets: developed technology 7,600 Intangible assets: customer relationships 28,700 Intangible assets: trade names and trademarks 300 Intangible assets: non-compete agreements 50 Total assets acquired $ 43,934 Liabilities assumed Accounts payable and accrued liabilities $ 767 Deferred revenue 6,900 Lease liabilities 288 Deferred tax liabilities 3,341 Total liabilities assumed $ 11,296 Goodwill 61,337 Total purchase consideration $ 93,975

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]
Schedule of Property and Equipment, Net of Amount Held-for-Sale	Property and equipment consisted of the following (in thousands): September 30, December 31, 2023 2022 (unaudited) Computer and office equipment $ 5,436 $ 5,528 Capitalized software development costs 12,699 8,585 Furniture and fixtures 1,420 1,589 Leasehold improvements and other 6,283 6,970 Total property and equipment 25,838 22,672 Less accumulated depreciation and amortization ( 12,182 ) ( 10,292 ) Total $ 13,656 $ 12,380

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill activity was as follows (in thousands): Total Balance as of December 31, 2022 $ 1,266,402 Reductions - see Note 5. “Acquisitions” ( 1,086 ) Balance as of September 30, 2023 (unaudited) $ 1,265,316
Schedule of Intangible Assets	Intangible assets consisted of the following (in thousands): Weighted-Average Remaining September 30, 2023 December 31, 2022 Gross Accumulated Amortization Net Gross Accumulated Amortization Net (unaudited) Software 0 Months $ 21 $ ( 21 ) $ — $ 21 $ ( 20 ) $ 1 Trade names 77 Months 126,100 ( 45,996 ) 80,104 126,100 ( 35,936 ) 90,164 Developed technology 23 Months 325,300 ( 216,398 ) 108,902 325,300 ( 167,600 ) 157,700 Customer relationships 48 Months 451,400 ( 205,001 ) 246,399 451,400 ( 156,635 ) 294,765 Non-compete agreements 27 Months 50 ( 13 ) 37 50 ( 1 ) 49 Total $ 902,871 $ ( 467,429 ) $ 435,442 $ 902,871 $ ( 360,192 ) $ 542,679
Estimated Future Amortization Expense	Based on the recorded intangible assets at September 30, 2023 (unaudited), estimated amortization expense is expected to be as follows (in thousands): Amortization Expense Years Ending December 31, (unaudited) Remainder of 2023 $ 35,731 2024 142,442 2025 99,729 2026 79,625 2027 40,682 2028 and thereafter 37,233 Total $ 435,442

Credit Facility (Tables)

Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2023
Line of Credit Facility [Abstract]
Schedule of Maturities of Long-term Debt	The maturities of outstanding debt as of September 30, 2023 (unaudited) are as follows (in thousands): Amount Years Ending December 31, (unaudited) Remainder of 2023 $ 1,250 2024 5,000 2025 5,000 2026 5,000 2027 5,000 Thereafter 471,250 Total $ 492,500

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Geographic Areas, Revenues from External Customers [Abstract]
Schedule of Revenue by Geographic Region	Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) United States $ 107,583 $ 97,567 $ 314,547 $ 278,631 Foreign 27,338 24,862 80,287 71,837 Total revenue $ 134,921 $ 122,429 $ 394,834 $ 350,468 Percentage of revenue generated outside of the United States 20 % 20 % 20 % 20 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Stock-Based Compensation Expense by Award Type	The following two tables present stock-based compensation by award type and where the stock-based compensation expense was recorded in our condensed consolidated statements of operations and comprehensive loss (in thousands): Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Options $ — $ — $ — $ 21 Restricted stock units 11,343 9,538 32,420 27,249 Shares issuable under employee stock purchase plan 412 522 1,201 1,653 Total stock-based compensation $ 11,755 $ 10,060 $ 33,621 $ 28,923
Summary of Stock-Based Compensation Expense Recorded in Consolidated Statement of Operations	Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Subscription and support cost of revenue $ 459 $ 358 $ 1,312 $ 965 Professional services and other cost of revenue 603 451 1,639 1,292 Sales and marketing 3,145 2,813 9,142 8,162 Research and development 3,792 3,035 10,446 8,261 General and administrative 3,756 3,403 11,082 10,243 Total stock-based compensation $ 11,755 $ 10,060 $ 33,621 $ 28,923
Summary of Restricted Stock Unit Activity	The following table summarizes the activity of RSUs for the unaudited nine months ended September 30, 2023 (in thousands, except per unit amounts): RSUs Weighted Average Grant Date Fair Value Per Unit Unvested and outstanding at December 31, 2022 3,437 $ 21.60 Granted 2,714 25.27 Vested ( 924 ) 22.32 Forfeited or canceled ( 570 ) 22.23 Unvested and outstanding at September 30, 2023 4,657 $ 23.53
Summary of Assumptions Relating to Stock Options and ESPP Purchase Rights	The following table summarizes the assumptions relating to 2021 ESPP purchase rights used in a Black-Scholes option pricing model for the three months ended September 30, 2023 and 2022 (unaudited): Three months ended 2023 2022 Dividend yield None None Volatility 18 - 25 % 32 - 41 % Risk-free interest rate 5.20 - 5.47 % 0.6 - 3.34 % Expected life (years) 0.5 0.5
2021 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Restricted Stock Units Activity	The following table summarizes the activity of the incentive units granted under the 2020 Plan, subsequent to their conversion into RSUs under the 2021 Plan, for the unaudite d nine months ended September 30, 2023 (in thousands, except per unit amounts): RSUs Weighted Average Grant Date Fair Value Per Unit Unvested and outstanding at December 31, 2022 1,409 $ 10.72 Vested ( 750 ) 11.26 Forfeited or canceled ( 94 ) 11.08 Unvested and outstanding at September 30, 2023 565 $ 10.70

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Summary of Components of Operating Lease Expense	Three months ended Nine months ended 2023 2022 2023 2022 (unaudited) Operating lease cost, gross $ 1,641 $ 1,568 $ 4,938 $ 4,952 Variable lease cost, gross (1) 491 522 1,988 1,649 Sublease income ( 256 ) ( 352 ) ( 830 ) ( 893 ) Total lease costs (2) $ 1,876 $ 1,738 $ 6,096 $ 5,708
Schedule of Maturities of The Company’s Operating Lease Liabilities	As of September 30, 2023 (unaudited), the maturities of the Company’s operating lease liabilities were as follows (in thousands): Remainder of 2023 $ 2,121 2024 8,523 2025 4,393 2026 2,787 2027 1,994 2028 and thereafter 1,098 Total lease payments 20,916 Less: Imputed interest ( 2,471 ) Lease liabilities 18,445 Tenant improvement reimbursements included in the measurement of lease liabilities but not yet received ( 414 ) Lease liabilities, net $ 18,031

Description of Business and B_3

Description of Business and Basis of Presentation - Additional Information (Details) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares, issued	144,696,000	142,917,000
Offering price per share	$ 0.01	$ 0.01
Top Co [Member]
Business acquisition, percentage acquired	100%

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Reconciliation of the Denominator Used in the Calculation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net Income (Loss)	$ (5,481)	$ (10,055)	$ (28,311)	$ (28,519)
Denominator:
Weighted-average common shares outstanding--basic	144,222	142,108	143,665	141,536
Dilutive effect of share equivalents resulting from stock options and unvested restricted stock units	0	0	0	0
Weighted-average common shares outstanding--diluted	144,222	142,108	143,665	141,536
Earnings Per Share, Diluted	$ (0.04)	$ (0.07)	$ (0.2)	$ (0.2)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Shares Excluded from Calculation of Diluted Loss Per Share with a Potential Dilutive Impact (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted loss per share with a potential dilutive impact	5,255,000	5,239,000	5,255,000	5,239,000
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted loss per share with a potential dilutive impact	5,222,000	5,204,000	5,222,000	5,204,000
Shares issuable under employee stock purchase plan
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted loss per share with a potential dilutive impact	33,000	35,000	33,000	35,000

Acquisitions - Additional infor

Acquisitions - Additional information (Details) - USD ($) $ in Thousands			9 Months Ended
	Dec. 15, 2022	Apr. 13, 2022	Sep. 30, 2023
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life			3 years
Customer Lists
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life			7 years
Developed Technology
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life			5 years
Trade Names | Minimum [Member]
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life
Trade Names | Maximum [Member]
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life			10 years
Concentric Sky, Inc [Member]
Business Acquisition [Line Items]
Purchase Price, Future Payment		$ 500
Canvas Credentials acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, Goodwill, Expected tax deductible amount			$ 9,700
LearnPlatform, LLC [Member]
Business Acquisition [Line Items]
Purchase Price, Future Payment	$ 200
Deferred tax liability	3,341
Increase (decrease) in deferred liabilities	$ 3,400		$ 1,100

Acquisitions - Schedule of Fair

Acquisitions - Schedule of Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 15, 2022	Apr. 13, 2022	Sep. 30, 2023	Dec. 31, 2022
Liabilities assumed
Goodwill			$ 1,265,316	$ 1,266,402
Concentric Sky, Inc [Member]
Business Acquisition [Line Items]
Cash transaction value		$ 20,814
Holdback amount		500
Total purchase consideration		21,314
Identifiable assets acquired
Cash		1,330
Accounts receivable		1,018
Prepaid expenses and other assets		109
Total assets acquired		15,457
Liabilities assumed
Accounts payable and accrued liabilities		1,335
Deferred revenue		2,566
Total liabilities assumed		3,901
Goodwill		9,758
Total purchase consideration		21,314
LearnPlatform, LLC [Member]
Business Acquisition [Line Items]
Cash transaction value	$ 93,825
Holdback amount	150
Total purchase consideration	93,975
Identifiable assets acquired
Cash	4,297
Accounts receivable	1,306
Prepaid expenses and other assets	373
Right-of-use asset	288
Deferred tax asset	1,020
Total assets acquired	43,934
Liabilities assumed
Accounts payable and accrued liabilities	767
Deferred revenue	6,900
Lease liability	288
Deferred tax liability	3,341
Total liabilities assumed	11,296
Goodwill	61,337
Total purchase consideration	93,975
Developed Technology | Concentric Sky, Inc [Member]
Identifiable assets acquired
Intangible assets		3,900
Developed Technology | LearnPlatform, LLC [Member]
Identifiable assets acquired
Intangible assets	7,600
Customer Relationships | Concentric Sky, Inc [Member]
Identifiable assets acquired
Intangible assets		$ 9,100
Customer Relationships | LearnPlatform, LLC [Member]
Identifiable assets acquired
Intangible assets	28,700
Trademarks and Trade Names [Member] | LearnPlatform, LLC [Member]
Identifiable assets acquired
Intangible assets	300
Noncompete Agreements [Member] | LearnPlatform, LLC [Member]
Identifiable assets acquired
Intangible assets	$ 50

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net of Amount Held-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property and equipment	$ 25,838	$ 22,672
Less accumulated depreciation and amortization	(12,182)	(10,292)
Total	13,656	12,380
Computer and office equipment
Property Plant And Equipment [Line Items]
Total property and equipment	5,436	5,528
Capitalized software development costs
Property Plant And Equipment [Line Items]
Total property and equipment	12,699	8,585
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	1,420	1,589
Leasehold improvement and other
Property Plant And Equipment [Line Items]
Total property and equipment	$ 6,283	$ 6,970

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Capitalized computer software, accumulated amortization	$ 4.1		$ 4.1		$ 2.4
Capitalized computer software, amortization	$ 0.7	$ 0.4	$ 1.8	$ 1

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance as of December 31, 2022	$ 1,266,402
Reductions - see Note 5. "Acquisitions"	1,086
Balance as of June 30, 2023	$ 1,265,316

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Acquired Indefinite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 35,700	$ 34,300	$ 107,237	$ 102,195

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Acquired Indefinite Lived Intangible Assets [Line Items]
Gross	$ 902,871	$ 902,871
Accumulated Amortization	(467,429)	(360,192)
Net Carrying Amount	$ 435,442	542,679
Weighted Average Remaining Useful Life	3 years
Software
Acquired Indefinite Lived Intangible Assets [Line Items]
Gross	$ 21	21
Accumulated Amortization	(21)	(20)
Net Carrying Amount	$ 0	1
Weighted Average Remaining Useful Life	0 months
Trade Names
Acquired Indefinite Lived Intangible Assets [Line Items]
Gross	$ 126,100	126,100
Accumulated Amortization	(45,996)	(35,936)
Net Carrying Amount	$ 80,104	90,164
Weighted Average Remaining Useful Life	77 months
Developed Technology
Acquired Indefinite Lived Intangible Assets [Line Items]
Gross	$ 325,300	325,300
Accumulated Amortization	(216,398)	(167,600)
Net Carrying Amount	$ 108,902	157,700
Weighted Average Remaining Useful Life	23 months
Customer Relationships
Acquired Indefinite Lived Intangible Assets [Line Items]
Gross	$ 451,400	451,400
Accumulated Amortization	(205,001)	(156,635)
Net Carrying Amount	$ 246,399	294,765
Weighted Average Remaining Useful Life	48 months
Noncompete Agreements
Acquired Indefinite Lived Intangible Assets [Line Items]
Gross	$ 50	50
Accumulated Amortization	(13)	(1)
Net Carrying Amount	$ 37	$ 49
Weighted Average Remaining Useful Life	27 months

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 35,731
2024	142,442
2025	99,729
2026	79,625
2027	40,682
2028 and thereafter	37,233
Net Carrying Amount	$ 435,442	$ 542,679

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) Customer	Sep. 30, 2022	Sep. 30, 2023 USD ($) Customer Segment	Sep. 30, 2022	Dec. 31, 2022 USD ($) Customer
Disaggregation Of Revenue [Line Items]
Number of Operating Segments | Segment			1
Percentage of revenue recognized included in deferred revenue	80%	76%	64%	64%
Revenue, remaining performance obligation expected to be recognized | $	$ 862.9		$ 862.9
Provision for credit losses | $			$ 2		$ 1.5
Revenue, Remaining performance obligation, percentage	75%		75%
Sales Revenue Net
Disaggregation Of Revenue [Line Items]
Number of customers greater than 10 % of total revenue | Customer	0		0
Sales Revenue Net | International Customers | Customer Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of revenue generated outside of the United States			10%
Trade Accounts Receivable
Disaggregation Of Revenue [Line Items]
Number of other customers greater than 10 % of accounts receivable | Customer	0		0		0
Trade Accounts Receivable | International Customers | Customer Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of revenue generated outside of the United States			10%		10%
Bridge | Trade Accounts Receivable | International Customers | Customer Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of revenue generated outside of the United States			15.50%

Revenue - Schedule of Revenue b

Revenue - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Total revenue	$ 134,921	$ 122,429	$ 394,834	$ 350,468
United States
Disaggregation Of Revenue [Line Items]
Total revenue	107,583	97,567	314,547	278,631
Foreign
Disaggregation Of Revenue [Line Items]
Total revenue	27,338	24,862	$ 80,287	71,837
Customer Concentration Risk | Sales Revenue Net | Foreign
Disaggregation Of Revenue [Line Items]
Percentage of revenue generated outside of the United States			10%
Geographic Concentration Risk | Sales Revenue Net
Disaggregation Of Revenue [Line Items]
Total revenue	$ 134,921	$ 122,429	$ 394,834	$ 350,468
Education | Customer Concentration Risk | Sales Revenue Net
Disaggregation Of Revenue [Line Items]
Percentage of revenue generated outside of the United States	20%	20%	20%	20%

Revenue - Additional Informat_2

Revenue - Additional Information (Details1)	Sep. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-07-01
Disaggregation Of Revenue [Line Items]
Revenue, Remaining performance obligation period	24 months

Deferred Commissions - Addition

Deferred Commissions - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Deferred Costs [Abstract]
Deferred commissions	$ 29,300		$ 29,300		$ 32,200
Amortization of deferred sales commissions	4,400	$ 4,400	14,500	$ 11,600
Deferred commissions impairment charges	$ 0	$ 0	$ 0	$ 0

Credit Facility - Additional In

Credit Facility - Additional Information (Details) - USD ($)				3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 21, 2023	Oct. 29, 2021	Mar. 24, 2020	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Line of credit facility,maturity date			Mar. 24, 2026
Letters of credit outstanding				$ 3,800,000		$ 3,800,000		$ 4,300,000
Line of credit facility, Variable rate		1%
Amortization of debt discount cost				300,000	$ 200,000	800,000	$ 700,000
Amortization of deferred financing costs						889,000	881,000
Other Assets
Debt Instrument [Line Items]
Unamortized debt issuance costs				600,000		600,000		700,000
Debt issuance costs				800,000		800,000
Minimum [Member]
Debt Instrument [Line Items]
Loan unused commitiment fee, percentage		0.40%
Maximum [Member]
Debt Instrument [Line Items]
Loan unused commitiment fee, percentage		0.50%
Eurodollar
Debt Instrument [Line Items]
Line of credit facility, Variable rate		1%
Base Rate
Debt Instrument [Line Items]
Line of credit facility, Variable rate		1%
Base Rate | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate		1%
Base Rate | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate		1.50%
SOFR | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	0.11448%
SOFR | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	0.42826%
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding				10,000,000		10,000,000
Initial Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 775,000,000
Initial Term Loan | SOFR
Debt Instrument [Line Items]
Line of credit facility, interest rate	2.75%
Incremental Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			70,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 50,000,000
Line of credit facility, interest rate	2.50%
Borrowings outstanding						0
Amortization of deferred financing costs				47,000	$ 47,000	100,000	$ 100,000
Term Loan
Debt Instrument [Line Items]
Unamortized debt discount costs				5,100,000		5,100,000		5,800,000
Term Loan | Short Term Debt [Member]
Debt Instrument [Line Items]
Debt discount costs				1,000,000		1,000,000
Term Loan | Long term Debt [Member]
Debt Instrument [Line Items]
Debt discount costs				5,900,000		5,900,000
Senior Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 500,000,000		492,500,000		$ 492,500,000		$ 496,300,000
Percentage of principal amount redeemed		0.25%
Line of credit facility, interest rate						8.68%		6.12%
Line of credit facility, expiration period		7 years
Senior Term Loan | Eurodollar
Debt Instrument [Line Items]
Line of credit facility, interest rate		2.75%
Senior Term Loan | Eurodollar | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate		0.50%
Senior Term Loan | Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate		1.75%
Senior Revolver
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 125,000,000		125,000,000		$ 125,000,000
Borrowings outstanding						0
Line of credit facility, expiration period		5 years
Line of credit percentage of outstanding amount	35%
Senior Revolver | Other Current Assets
Debt Instrument [Line Items]
Debt issuance costs				$ 200,000		$ 200,000
Senior Revolver | Minimum [Member]
Debt Instrument [Line Items]
Net leverage ratio						1%
Senior Revolver | Maximum [Member]
Debt Instrument [Line Items]
Net leverage ratio						7.75%
Senior Revolver | Eurodollar | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate		2%
Senior Revolver | Eurodollar | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate		2.50%

Credit Facility - Schedule of F

Credit Facility - Schedule of Future Minimum Principal Payments Related to the Credit Facility (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Line of Credit Facility [Abstract]
Remainder of 2023	$ 1,250
2024	5,000
2025	5,000
2026	5,000
2027	5,000
Thereafter	471,250
Total	$ 492,500

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000
Common Stock, Shares, Outstanding	144,696,000	142,917,000
Common stock par value	$ 0.01	$ 0.01
Common stock, shares, issued	144,696,000	142,917,000
Common stock, shares, outstanding	144,696,000	142,917,000
Partnership
Class Of Stock [Line Items]
Common Stock, Shares, Outstanding	144,696,156	142,917,080
Common stock, shares, outstanding	144,696,156	142,917,080

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 11,755	$ 10,060	$ 33,621	$ 28,923
Common stock, capital shares reserved for future issuance							5,716,683	5,629,623
Unrecognized stock-based compensation costs		$ 5,200		$ 5,200		$ 14,200
Common Stock, Shares Authorized		500,000,000		500,000,000		500,000,000
Common stock authorized		19,827,266		19,827,266
Common Stock, Shares, Outstanding		144,696,000		144,696,000		142,917,000
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost, period for recognition				7 months 6 days
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost, period for recognition						1 year 3 months 18 days
IPO Member
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of shares				1,305,738
2021 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance							1,429,171	1,407,406
Common stock authorized		4,018,556		4,018,556
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, Description				In July 2021, our board of directors adopted, and our stockholders approved the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which allows eligible employees to purchase shares of our common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations. The initial offering period ended on February 28, 2022. Each new offering period begins on or about March 1 and September 1 and is approximately six months in duration. On each purchase date, eligible employees will purchase our common stock at a price per share equal to 85% of the lesser of (1) the fair market value of our common stock on the offering date or (2) the fair market value of our common stock on the purchase date. A total of 1,900,000 shares of the Company’s common stock were initially reserved for issuance under the 2021 ESPP. Pursuant to the terms of the 2021 ESPP, the share reserve increased by 1,407,406 shares in January 2022 and 1,429,171 shares in January 2023. As of September 30, 2023 (unaudited), 4,018,556 shares of common stock were available for purchase under the 2021 ESPP.
Common stock authorized	18,000,000	1,900,000		1,900,000
Discount on share market price	15%
Purchase price of common stock, percent	85%
2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock authorized	0
Incentive Carry | IPO Member
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares				2,271,698
Unvested shares		6,126,802		6,126,802
Partnership [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock, Shares, Outstanding		144,696,156		144,696,156		142,917,080
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash value per share of stock repurchased and retired during period				$ 49
Stock-based compensation expense		$ 11,343	9,538	$ 32,420	27,249
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period				924
RSU granted				2,714
Unrecognized stock-based compensation costs		100,000		$ 100,000		$ 68,300
Aggregate fair value of RSU		$ 4,300		$ 4,300
Vesting rights				The RSUs will generally vest in 11 equal quarterly installments which commenced on September 1, 2021.
Total unrecognized compensation cost, period for recognition				3 years		3 years 1 month 6 days
Restricted Stock Units | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount per share of RSU granted		$ 28
Restricted Stock Units | 2021 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period				3,496,739
RSU granted		153,795
Cash Replacement Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 100	$ 1,400	$ 600	$ 4,300

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 11,755	$ 10,060	$ 33,621	$ 28,923
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	0	0	0	21
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	11,343	9,538	32,420	27,249
Shares issuable under employee stock purchase plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 412	$ 522	$ 1,201	$ 1,653

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock-Based Compensation Expense Recorded in Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 11,755	$ 10,060	$ 33,621	$ 28,923
Subscription and Support Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	459	358	1,312	965
Professional Services And Other Cost Of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	603	451	1,639	1,292
Sales and Marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	3,145	2,813	9,142	8,162
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	3,792	3,035	10,446	8,261
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 3,756	$ 3,403	$ 11,082	$ 10,243

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested and outstanding, Beginning Balance		3,437
Granted		2,714
Vested		(924)
Forfeited or cancelled		(570)
Unvested and outstanding, Ending Balance	4,657	4,657
Outstanding, Weighted Average Grant Date Fair Value, Beginning balance		$ 21.6
Granted		25.27
Vested		22.32
Forfeited or cancelled		22.23
Outstanding, Weighted Average Grant Date Fair Value, Ending balance	$ 23.53	$ 23.53
2021 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested and outstanding, Beginning Balance	565	1,409
Vested		(750)
Forfeited or cancelled		(94)
Outstanding, Weighted Average Grant Date Fair Value, Beginning balance		$ 10.72
Vested		11.26
Forfeited or cancelled		11.08
Outstanding, Weighted Average Grant Date Fair Value, Ending balance	$ 10.7	$ 10.7

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Assumptions Relating to Stock Options and ESPP Purchase Rights (Details) - Employee Stock Purchase Plan	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0%	0%
Expected life (years)	6 months	6 months
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility	18%	32%
Risk-free interest rate	5.20%	0.60%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility	25%	41%
Risk-free interest rate	5.47%	3.34%

Fair Value of Financial Instr_2

Fair Value of Financial Instruments - Additional Information (Detail) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of Term Loan	$ 487,400
Fair Value Liabilities Measurement Transfers Amount	$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023
Minimum [Member]
Lessee Lease Description [Line Items]
Lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Lease term	6 years
Property Two
Lessee Lease Description [Line Items]
Sublease remaining lease term	63 months
Property Three
Lessee Lease Description [Line Items]
Sublease remaining lease term	28 months
Property Four
Lessee Lease Description [Line Items]
Sublease remaining lease term	7 months

Leases - Summary of Components

Leases - Summary of Components of Operating Lease Expense (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost, gross		$ 1,641	$ 1,568	$ 4,938	$ 4,952
Variable lease cost, gross	[1]	491	522	1,988	1,649
Sublease Income		(256)	(352)	(830)	(893)
Lease, Cost, Total	[2]	$ 1,876	$ 1,738	$ 6,096	$ 5,708
[1] Variable rent expense was not included within the measurement of the Company ’s operating right-of-use assets and lease liabilities. Variable rent expense is comprised primarily of the Company’s proportionate share of operating expenses, property taxes and insurance and is classified as lease expense due to the Company’ s election to not separate lease and non-lease components. Short-term lease costs for the unaudited three and nine months ended September 30, 2023 and 2022 were not significant and are not included in the table above.

Leases - Summary of Measurement

Leases - Summary of Measurement of Operating Lease Liabilities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Measurement of operating lease liabilities	$ 1.9	$ 2	$ 6.5	$ 6.2

Leases - Schedule of Maturities

Leases - Schedule of Maturities of the Company's Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 2,121
2024	8,523
2025	4,393
2026	2,787
2027	1,994
2028 and Thereafter	1,098
Total lease payments	20,916
Imputed interest	(2,471)
Lease liabilities	18,445
Tenant improvement reimbursements included in the measurement of lease liabilities but not yet received	(414)
Lease liabilities, net	$ 18,031

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Remaining Lease Term - Additional Information (Details)	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term	3 years 1 month 6 days	3 years 7 months 6 days
Weighted average discount rate, percent	8.21%	8.20%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Commitments and Contingencies [Line item]
2023	$ 2,900		$ 2,900
2024	49,200		49,200
2025	48,000		48,000
Total cost of revenue	47,427	$ 44,073	138,548	$ 127,482
Research and Development Expense	20,688	20,596	65,872	56,466
Letters of credit outstanding	3,800		3,800		$ 4,300
General and administrative	15,522	14,408	44,113	44,277
Subscription And Support [Member]
Commitments and Contingencies [Line item]
Total cost of revenue	40,345	$ 37,005	117,532	$ 108,419
Purchase Commitment [Member]
Commitments and Contingencies [Line item]
Total cost of revenue	200		600
Research and Development Expense	400		1,400
General and administrative			100
Purchase Commitment [Member] | Subscription And Support [Member]
Commitments and Contingencies [Line item]
Total cost of revenue	$ 12,400		$ 35,400

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Take-Private Transaction
Related Party Transaction [Line Items]
Related party cost	$ 0.1	$ 0.2	$ 0.5	$ 0.5

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event - PCS Holdings LLC [Member] $ in Millions	Oct. 30, 2023 USD ($)
Subsequent Event [Line Items]
Cash transaction value	$ 835
Cash on hand	$ 685