Instructure Financials

$38 M

Revenue Q2, 2017

$990.9 M

Mkt cap, 13-Dec-2017
Gross profit (Q2, 2017)27.1 M
Gross profit margin (Q2, 2017), %71%
Net income (Q2, 2017)(13 M)
EBIT (Q2, 2017)(12.9 M)
Cash, 30-Jun-201725.7 M

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

44.4 m73.2 m110.9 m

Revenue growth, %

65%51%

Cost of goods sold

32.7 m

Gross profit

78.1 m

Gross profit Margin, %

70%

Sales and marketing expense

70 m

R&D expense

36 m

General and administrative expense

25.5 m

Operating expense total

131.5 m

EBIT

(53.4 m)

EBIT margin, %

(48%)

Interest expense

87 k

Interest income

352 k

Pre tax profit

(53.4 m)

Income tax expense

(167 k)

Net Income

(53.6 m)

Quarterly

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

23.3 m25.9 m30.1 m34 m38 m

Cost of goods sold

7.3 m7.6 m8.6 m9.6 m11 m

Gross profit

16 m18.3 m21.5 m24.4 m27.1 m

Gross profit Margin, %

68%71%71%72%71%

Sales and marketing expense

16.2 m18 m17.8 m19 m21.3 m

R&D expense

7.8 m8.7 m9.3 m11.2 m11.1 m

General and administrative expense

5.7 m6 m6.7 m7 m7.6 m

Operating expense total

29.7 m32.8 m33.8 m37.2 m40 m

EBIT

(13.8 m)(14.5 m)(12.3 m)(12.8 m)(12.9 m)

EBIT margin, %

(59%)(56%)(41%)(38%)(34%)

Interest expense

11 k12 k31 k14 k4 k

Interest income

71 k61 k104 k76 k39 k

Pre tax profit

(13.7 m)(14.5 m)(12.3 m)(12.7 m)(12.9 m)

Income tax expense

(32 k)(67 k)(10 k)(31 k)(105 k)

Net Income

(13.7 m)(14.6 m)(12.3 m)(12.7 m)(13 m)

Balance Sheet

Annual

USDFY, 2016

Cash

44.5 m

Accounts Receivable

6.8 m

Inventories

8.1 m

Current Assets

92.9 m

PP&E

14.7 m

Goodwill

989 k

Total Assets

111.3 m

Accounts Payable

5.4 m

Current Liabilities

89.8 m

Total Liabilities

101.4 m

Additional Paid-in Capital

206.4 m

Retained Earnings

(196.5 m)

Total Equity

10 m

Financial Leverage

11.2 x

Quarterly

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

69.7 m62 m59 m28.3 m25.7 m

Current Assets

82.1 m108.9 m111.4 m62.9 m107.3 m

PP&E

13.1 m13.2 m13.8 m16.9 m18.9 m

Goodwill

989 k989 k989 k989 k989 k

Total Assets

98.6 m125.6 m128.4 m83.9 m130.1 m

Accounts Payable

3.8 m3.8 m6 m4.4 m4.9 m

Current Liabilities

52.1 m87.9 m99.1 m70.6 m122 m

Total Liabilities

64.1 m99.8 m110.9 m82.2 m134.2 m

Common Stock

4 k3 k3 k3 k3 k

Additional Paid-in Capital

191.1 m197 m201 m211.1 m218.3 m

Retained Earnings

(156.6 m)(171.2 m)(183.5 m)(209.5 m)(222.4 m)

Total Equity

34.5 m25.7 m17.4 m1.6 m(4.1 m)

Financial Leverage

2.9 x4.9 x7.4 x52 x-31.6 x

Cash Flow

Annual

USDFY, 2016

Net Income

(53.6 m)

Depreciation and Amortization

4 m

Accounts Receivable

(8.8 m)

Inventories

(592 k)

Accounts Payable

4.1 m

Cash From Operating Activities

(21.6 m)

Purchases of PP&E

(7 m)

Cash From Investing Activities

(31.3 m)

Cash From Financing Activities

7 m

Interest Paid

19 k

Income Taxes Paid

163 k

Quarterly

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

(13.7 m)(28.3 m)(40.6 m)(12.7 m)(25.7 m)

Depreciation and Amortization

912 k1.9 m2.8 m1.2 m2.7 m

Accounts Receivable

2.6 m(32 m)(13.9 m)5.3 m(55.1 m)

Cash From Operating Activities

(18.9 m)(28.4 m)(6.7 m)(27.7 m)(39.6 m)

Purchases of PP&E

(2.3 m)(3.4 m)(4.9 m)(3.1 m)(7 m)

Cash From Investing Activities

(2.1 m)(3.4 m)(29.2 m)10.5 m16.7 m

Cash From Financing Activities

123 k3.3 m4.5 m996 k4.2 m

Interest Paid

7 k11 k18 k

Income Taxes Paid

29 k31 k49 k127 k175 k

Ratios

USDY, 2017

Revenue/Employee

38.5 k

Financial Leverage

-31.6 x

Operating Metrics

Instructure's Customers was reported to be 2 k in FY, 2016, which is a 11% increase from the previous period. Instructure's Backlog was reported to be $213 m in FY, 2016, which is a 40% increase from the previous period
FY, 2014FY, 2015FY, 2016

Backlog

$113 m$152 m$213 m

Customers

1.8 k2 k

Countries

3540