say momentum business. on Thank share and you, will to April, been to first in I’ve we earnings our all us chance following and have the Thank call recent the the joining everyone. have this good I that afternoon, looking for we our IPO. tremendous you call forward
well and guidance. details During will on today’s as call, results, provide I as XXXX and our QX share Dale QX
the a $XX.X you newer highlights was cover from ACR health as the year-over-year. financial with look many also best QX the it up investors story, I’ll XX% into ACR results. business. million, our or off kick may and was million, business up opportunity our $XX.X Instructure because think will revenue the year-over-year, while We market underlying at total first, the of Allocated is but GAAP We XX% few be gives this to business, way visibility Combined Receipts better to of
of Importantly, we acknowledge year. while with the XX%, operating I Instructure basis all EBITDA Instructure couldn’t points modes Platform SaaS the business Instructure hybrid and hub margins QX around up native adjusted provides partners, in-person, educators, LMS. a half the across Learning all drive and the work is a leverage the built results over or in of commonly and of would to or administrators, students, for that connects that what’s Canvas the Learning and called Learning is of Management The online hard their platform cloud of learning be System used continuing XXX% an to like X,XXX delivered for teaching the employees for year-over-year. Instructure team Platform is parents first called learning. prouder
million XX in international over solutions. We North Canvas and over share have are an market K-XX users education American paid among LMS globally. with customers contracted X,XXX leader both And presence the higher LMS we and
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are educational will now is Industry that in as the world’s We in to models business enhanced conferencing LMS in stay. indicate workflows. standard Technology change their subscriptions K-XX customers the embedded as believe engagement direct video as deeply We are and research post-COVID. education communication. here districts with maintain
as main platform market market fact, platform XX% products The rapidly usage IQ. approximately prime remain levels. non-LMS is that our approximately growing. to XXXX billion position LMS believe expenditures $XX opportunity technology education an a of and address and new the ever, grow We higher and opportunity and across view expect LMS expected in accelerated as total according $X in than third-party study, approximately now K-XX to Global for more is to billion, $XX K-XX at estimate opportunities, is greater hold for and a on We we In elevated are have Instructure educators the leader instruction market and on market to our billion our to institutions. market comprised expansion of opportunity to technology billion is than emerge the large educational market $XX according of $XXX opportunity our approximately of education billion.
confidence broad in winning. and usability, reliability, platform our ability give and our to continue Our differentiators, us key open scalability,
on these differentiators. touch Let’s briefly
customers First with Canvas nearly Higher are learners Because in important happy students on are the these some It’s and two Instructure of their number higher this XX% of research, they was that – their salespeople. two a vibrant online spend than that love more with built competitor experience and do, the pair was technology on and week educators LMS. this is the than teachers than And and spend legacy focus in million XX% according referential significant into our number XX% now while and with hours teachers community are of a members. learners the working to the they highly administrators, a portion touched our Those on by XX% mind. best of logged ED is activities third-party is in sale, LMS, competitor such higher administrators a usability, K-XX. satisfaction the built to
in the are the and ability is Second students, providers and workload and reliable, differentiator. agreements enterprise dynamically of patterns scalability. able while high school remain COVID state large win win maintaining high of entire to competitors amidst scalable. single to The district scalability usage, that service our be handle highlighted level, available, of a availability COVID. to XX Learning have legacy through to scale rates abrupt platforms fluctuating a available. systems demand K-XX provide We XX.X% RFPs and State solutions manage must systems level multi-entity institutional guarantee environments we been mission of is critical critical time This and and contrast, XX country-wide changing At for during up deployment. any last whose struggled learning can us deficiencies the scale changes reliability helped from usage In and size dramatically out drives grade education and a year. very and or
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will positioned exciting turn momentum we call talk well durable are to over results our Dale And are business. I financial and now growth seeing We expanding and profitability. to the for the the in about
