Instructure Holdings, the maker of the Canvas Learning Management System, has reported a second quarter net loss of $21.7 million, compared to a net loss of $76.6 million reported for the second quarter last year. Revenue for the quarter was $93.6 million, up from $61.4 million reported for Q2 2020.
The Salt Lake City-based company also reported results for the first six months of 2021. Its net loss for the period was $54.8 million, compared to a net loss of $76.6 million reported in the first half of last year. Revenue for the six-month period was $187.5 million, up from $61.4 million reported for the first six months of 2020.
Instructure’s chief executive Steve Daly said: “Instructure delivered strong performance across the board in Q2. We have incredible momentum in the business as the Instructure learning platform continues to bring together educators, students, administrators, parents, and partners – connecting them all through a foundational educational platform used for in-person, online, or hybrid models of learning.
“We have an extraordinary opportunity ahead of us, as we believe the need for a learning platform has never been greater. As institutions navigate a highly complex learning landscape and reimagine the way they educate, we provide the right technologies, tools, and insights to make them successful. As a result, we’re poised to continue delivering a unique combination of revenue growth at scale and best-in-class margins.”
Date published: 18 August 2021