Instructure (INST) Tops Q1 EPS by 2c, Beats on Revenues; Boosts FY18 EPS/Revenue Outlook

Instructure (NYSE: INST) reported Q1 EPS of ($0.21), $0.02 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $47.99 million versus the consensus estimate of $47.11 million.

Business Outlook

Today, Instructure issued financial guidance for the second quarter and full year 2018. The financial guidance discussed below is on a non-GAAP basis, except for revenue, and excludes stock-based compensation expense, reversal of payroll tax expense on secondary stock purchase transactions, amortization of acquisition related intangibles, the change in fair value of the warrant liability, and the change in fair value of the contingent earn-out liability (see tables below that reconcile these non-GAAP financial measures to the related GAAP measures). On January 1, 2018, Instructure adopted Accounting Standards Codification (ASC) 606 \"Revenue from Contracts with Customers\" using the full retrospective transition method.

For the second quarter ending June 30, 2018, Instructure expects revenue of approximately $49.1 million to $49.7 million, a non-GAAP net loss of ($9.2) million to ($8.6) million, and non-GAAP net loss per common share of ($0.27) to ($0.25).

For the full year ending December 31, 2018, Instructure expects revenue of approximately $204.5 million to $209.5 million, as compared to previously stated guidance of $203.5 million to $209.5 million, non-GAAP net loss of ($32.0) million to ($30.0) million, up from ($32.3) million to ($30.3) million, and non-GAAP net loss per common share of ($0.94) to ($0.88), up from ($1.03) to ($0.97).

GUIDANCE:

Instructure sees FY2018 EPS of ($0.94)-($0.88), versus the consensus of ($1.00). Instructure sees FY2018 revenue of $204.5-209.5 million, versus the consensus of $208.5 million.

For earnings history and earnings-related data on Instructure (INST) click here.

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