Instructure Holdings, Inc. (NYSE:INST) is looking for M&A. Chief Executive Officer, Steve Daly said, "With adjusted gross margin approaching 80% and adjusted EBITDA margins exceeding 40%, our free cash flow generation should enable us to continue investing both organically and through M&A to drive long-term durable growth. As we look ahead to 2024 and beyond, we have unwavering confidence that the Instructure Learning Platform's unique advantages address the intricate challenges posed by today's educational landscape. Peter Walker, Chief Financial Officer said, "As we have consistently communicated, M&A is an important part of our strategy to drive long-term durable growth.
We have a strong track record of successfully integrating acquired companies, completing 6 integrations in the last 4 years, and we have confidence we'll execute similarly with Parchment. Our capital allocation priorities remain unchanged since our IPO, investing in organic revenue growth, pursuing M&A and maintaining a healthy balance sheet".
Instructure Holdings, Inc. is an education technology company. The Company personalizes, simplifies, organizes, and automates the entire learning lifecycle through technology. Its learning platform comprises solutions, including Canvas LMS, Canvas Studio, Canvas Catalog, Canvas Network, Canvas Credentials, Canvas Student Pathways, Mastery Assessment, Impact, Elevate Data Sync, Elevate K-12 Analytics, Elevate Data Quality, Elevate Standards Alignment, and LearnPlatform. Canvas LMS is designed to give education customers of all sizes and at every level an extensive set of flexible tools to support and enhance content creation, management, and delivery of face-to-face, blended and online instruction. Canvas Studio is an online video platform that integrates with Canvas LMS, which enables customers to host, manage, edit, and deliver video learning experiences. Canvas Catalog is a course catalog and registration system. The Companyâs learning platform supports educators and learners.