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Instructure Q1 loss narrows YOY

Instructure Inc. said its first-quarter normalized net income amounted to a loss of 31 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 48 cents per share.

The per-share loss decreased 82.0% year over year from $1.74.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $8.6 million, compared with a loss of $10.8 million in the year-earlier period.

The normalized profit margin increased to negative 36.8% from negative 74.0% in the year-earlier period.

Total revenue rose 59.3% year over year to $23.3 million from $14.6 million, and total operating expenses rose 18.3% from the prior-year period to $37.1 million from $31.3 million.

Reported net income totaled a loss of $13.7 million, or a loss of 50 cents per share, compared to a loss of $17.3 million, or a loss of $2.79 per share, in the prior-year period.