Private company

Instructure

Logo: Instructure, Inc., Public domain, via Wikimedia Commons5

American technology company

Instructure Holdings, Inc. is an educational technology company based in Salt Lake City, Utah, United States. It is the developer and publisher of Canvas, a web-based learning management system.3 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

2008Founded1
  • Industryeducational technology, software industry1
  • HeadquartersSalt Lake City1
  • Websitewww.instructure.com
  • Legal formcorporation1
  • Incorporated inDE6
  • Business address6330 South 3000 East, Suite 700, Salt Lake City, Ut 841216
  • Filer categoryLarge accelerated filer6
  • LEI52990065R1T7XMXQK1634
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o COGENCY GLOBAL INC. 850 NEW BURTON ROAD SUITE 201, 19904 Dover, United States4
  • Registered withDivision of Corporations, Department of State, 46018824

Instructure Holdings, Inc. is an educational technology company based in Salt Lake City, Utah, United States. It is the developer and publisher of Canvas, a web-based learning management system.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

64.9%Gross margin9
-0.6%Operating margin9
-6.4%Net margin9
11.6%Revenue growth, 20239
-2.7%Return on equity9
0.38×Debt to equity9
$158.1MFree cash flow9

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue35¢$186.3M
  • Research and development17¢$88.2M
  • Other costs40¢$209.5M
  • Interest8¢$42.0M
  • Income tax1¢$4.3M

Out of $530.2M in revenue.9 The company lost money this year.

Where each dollar of operating cash went, fiscal 2023

  • Capital spending4¢$5.9M
  • Kept or used elsewhere96¢$158.1M

Out of $164.0M of cash from operations.9

Financial statements

Revenue109$530.2M in 2023+105% since 2019
0$200.0M$400.0M$600.0M2019: $258.5M$258.5M20192021: $405.4M$405.4M2021+57%2022: $475.2M$475.2M2022+17%2023: $530.2M$530.2M2023+12%
Gross profit109$343.9M in 2023+96% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $175.6M$175.6M20192021: $235.5M$235.5M2021+34%2022: $302.9M$302.9M2022+29%2023: $343.9M$343.9M2023+14%
Operating income109-$3.2M in 2023−96% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M02019: -$86.0M-$86.0M20192021: -$46.9M-$46.9M2021−45%2022: -$16.5M-$16.5M2022−65%2023: -$3.2M-$3.2M2023−80%
Net income109-$34.1M in 2023−58% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M02019: -$80.8M-$80.8M20192021: -$88.7M-$88.7M2021+10%2022: -$34.2M-$34.2M2022−61%2023: -$34.1M-$34.1M2023−0%
Fiscal year201820192020202120222023
Revenue$258.5M10$405.4M9$475.2M9$530.2M9
Cost of revenue$82.8M10$169.9M9$172.3M9$186.3M9
Gross profit$175.6M10$235.5M9$302.9M9$343.9M9
Research and development$83.5M10$63.8M9$77.2M9$88.2M9
Operating expenses$282.4M9$319.4M9$347.1M9
Operating income-$86.0M10-$46.9M9-$16.5M9-$3.2M9
Interest$16.0K10-$50.4M9-$24.6M9-$42.0M9
Income before tax-$122.4M9-$42.4M9-$38.3M9
Income tax-$3.6M10-$33.7M9-$8.1M9-$4.3M9
Net income-$80.8M10-$88.7M9-$34.2M9-$34.1M9
Shares (weighted, basic)132.4M shares9141.8M shares9144.0M shares9
Shares (weighted, diluted)132.4M shares9141.8M shares9144.0M shares9

Compare Instructure with another company

Corporate structure

Instructure sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Instructure

  • THOMA BRAVO UGP, LLC Filed SCHEDULE 13G/A on Instructure, latest Feb 7, 2025 (2 filings since Feb 4, 2022)
  • Instructure Salt Lake City, Utah, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Instructure reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$59.9M15 Dec 31, 2019$49.8M15 Dec 31, 2018+20.3%
Accumulated depreciation$31.8M15 Dec 31, 2019$22.4M15 Dec 31, 2018+42.1%
Property and equipment, net$28.1M15 Dec 31, 2019$27.4M15 Dec 31, 2018+2.5%
Operating-lease assets (leased space)$36.5M15 Dec 31, 2019

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$101.2M15 Dec 31, 2019$94.3M15 Dec 31, 2018+7.3%
Debt securities available for sale$15.6M15 Dec 31, 2019$58.6M15 Dec 31, 2018−73.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$69.6M15 Dec 31, 2019$12.4M15 Dec 31, 2018+463.5%
Accumulated amortization$14.0M15 Dec 31, 2019$4.7M15 Dec 31, 2018+198.8%
Finite-lived intangibles, net$32.5M15 Dec 31, 2019$6.3M15 Dec 31, 2018+419.2%

The story

The company was founded in 2008 by two BYU graduate students, Brian Whitmer and Devlin Daley. Its initial funding came from Mozy founder Josh Coates, who served as Instructure's CEO from 2010 to 2018 and chairman of the board through 2020.

In December 2010, the Utah Education Network (UEN), a representative of some Utah colleges and universities, announced that Instructure would be replacing Blackboard. By 2013, the company's customer base had increased to at least 9 million users.

In 2011, Instructure launched Canvas, a learning management system. The company announced that Canvas would be made freely available under an Affero General Public License (AGPL) license as open-source software. However, the company continued to sell Canvas management as a service. Canvas became available on iOS in 2011, and on Android in 2013.

In 2015, Instructure launched Bridge, a cloud-based corporate learning management system. It was acquired by Learning Technologies Group (LTG) in 2021.

As of 2015, the company had raised $90 million in funding from investors. On November 13, 2015, the firm began trading as a publicly held company on the New York Stock Exchange.

In 2017, the company acquired Philadelphia-based video learning startup Practice XYZ, formerly known as ApprenNet, and merged the offerings into its own products.

In 2020, Thoma Bravo acquired the company for $2 billion. As of 2020, Canvas was used in approximately 4,000 institutions worldwide. In June 2021, Instructure again filed for an IPO, and began trading under the symbol INST.

In 2024, it was announced that KKR and Dragoneer had completed their $4.8 billion purchase of the company.

Read the full text

Later in 2024, Instructure announced the acquisition of Parchment, a credential management platform.

2026 Canvas security breach

In late April 2026, Canvas LMS experienced a security breach, with an outage following in early May.The hack is considered the largest educational security breach on record due to its unprecedented global scale, affecting 8,809 universities, educational ministries, and other institutions worldwide. Instructure disclosed that it was investigating a cybersecurity attack involving certain user data, including names, email addresses, student ID numbers, and messages amongst users. The company claimed it had found no evidence that passwords, birth dates, government IDs, or financial information were involved in the hacking. However, other sources indicate that this cybersecurity attack has put 275 million students' and teachers' data at risk.

Despite Instructure's claim that the situation had been resolved, on May 7th, Canvas was hacked again; its login page was replaced with a ransomware message by ShinyHunters, the criminal hacking group that claimed responsibility. ShinyHunters threatened to release Canvas's sensitive data unless its ransom was paid by the end of May 12.

404 Media stated this was the largest educational security breach ever on record. ShinyHunters claimed to have stolen 3.65 terabytes of data (approximately 275 million records).

By May 8, seven lawsuits in federal courts had been filed against Instructure, including one that also named KKR as a defendant. On May 13, a California-specific proposed class action lawsuit was filed by a San Diego resident against Instructure in the Southern District of California, alleging the breach of personally identifiable information.

From Wikipedia’s article on Instructure, shared under CC BY-SA 4.0.7

Leadership

Who has led Instructure, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (28)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • EesySoft Software International BV Netherlands8
  • Instructure Australia Pty. Ltd. Australia8
  • Instructure Global Holdings LLP United Kingdom8
  • Instructure Global Ltd. United Kingdom8
  • Instructure Holding LLC Delaware, U.S.A.8
  • Instructure Holdings, LLC Delaware, U.S.A.8
  • Instructure Hong Kong Ltd. Hong Kong8
  • Instructure Hungary Kft Hungary8
  • Instructure Information Technology (Shanghai) Company Limited The Republic of China8
  • Instructure Intermediate Holdings II, LLC Delaware, U.S.A.8
  • Instructure Intermediate Holdings III, LLC Delaware, U.S.A.8
  • Instructure Licenciamento De Software Ltda. Brazil8
  • Instructure Mexico, S. de R.L. de C.V. Mexico8
  • Instructure Singapore Pte Ltd. Singapore8
  • Instructure Sweden AB Sweden8
  • Instructure, Inc. Delaware, U.S.A.8
  • LearnPlatform, Inc. Delaware, U.S.A.8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Nov 13, 20248-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer49
  2. Nov 8, 20248-K Results of operations50
  3. Sep 12, 20248-K Other events51
  4. Aug 2, 20248-K Results of operations52
  5. Jul 25, 20248-K Other events53
  6. Jul 25, 20248-K Entered a material agreement; Shareholder vote54
  7. May 23, 20248-K Shareholder vote55
  8. May 8, 20248-K Results of operations56
  9. May 2, 20248-K Executive or director change57
  10. Apr 12, 20248-K Financial statements and exhibits58
  11. Feb 20, 20248-K Results of operations59
  12. Feb 1, 20248-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation60
  13. Jan 25, 2019New chief executive Daniel Tucker Goldsmith becomes CEO16
  14. Nov 12, 2015New chief executive Joshua L. Coates becomes CEO17
  15. 2008Founded Founded1

Calendar

When it reported results

  1. Nov 8, 2024Reported quarterly or annual results50
  2. Aug 2, 2024Reported quarterly or annual results52
  3. May 8, 2024Reported quarterly or annual results56
  4. Feb 20, 2024Reported quarterly or annual results59
  5. Oct 30, 2023Reported quarterly or annual results61
  6. Jul 31, 2023Reported quarterly or annual results62
  7. May 1, 2023Reported quarterly or annual results63
  8. Feb 13, 2023Reported quarterly or annual results64

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

195 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 30 major events, 115 insider forms, 2 large holders, 35 other. The latest 20:

  1. Feb 7, 2025SCHEDULE 13G/A EDGAR
  2. Nov 25, 202415-12G EDGAR
  3. Nov 14, 2024EFFECT EDGAR
  4. Nov 14, 20244 EDGAR
  5. Nov 14, 20244 EDGAR
  6. Nov 14, 20244 EDGAR
  7. Nov 14, 20244 EDGAR
  8. Nov 14, 20244 EDGAR
  9. Nov 14, 20244 EDGAR
  10. Nov 14, 20244 EDGAR
  11. Nov 14, 20244 EDGAR
  12. Nov 14, 20244 EDGAR
  13. Nov 14, 20244 EDGAR
  14. Nov 14, 20244 EDGAR
  15. Nov 13, 2024S-8 POS EDGAR
  16. Nov 13, 2024POS AM EDGAR
  17. Nov 13, 20248-K EDGAR
  18. Nov 8, 202410-Q EDGAR
  19. Nov 8, 20248-K EDGAR
  20. Sep 12, 20248-K EDGAR

The 195 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Instructure is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARINSTRUCTURE INC2
  • CIK0001355754
  • Filer statusLarge accelerated filer2
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • Business address6330 South 3000 East, Suite 700, Salt Lake City, UT 841212
  • Phone(800) 203-67552
  • Shares outstanding38,263,210 as of Feb 24, 202015
  • Public float$1.4B as of Jun 30, 201915
  • On EDGAR sinceFeb 28, 20062
  • Filings487 in all: 4 (261), 8-K (48), 3 (23), SC 13G/A (20), DEFA14A (19), 10-Q (12), SC 13G (12), CORRESP (7)2
    All 45 form types

    S-8 (7), S-8 POS (7), SC 13D/A (7), UPLOAD (7), D (6), 10-K (5), DEF 14A (4), S-1/A (4), SC14D9C (3), 3/A (2), 424B5 (2), 8-K/A (2), DRS/A (2), DRSLTR (2), SC 13D (2), SC 14D9/A (2), 15-12B (1), 25-NSE (1), 4/A (1), 424B4 (1), 8-A12B (1), CERTNYS (1), CT ORDER (1), DEFM14A (1), DEFR14A (1), DRS (1), EFFECT (1), FWP (1), POSASR (1), PREM14A (1), REGDEX (1), S-1 (1), S-3ASR (1), SC 14D9 (1), SC TO-C (1), SC TO-T (1), SC TO-T/A (1)

  • Latest filingsAnnual report (10-K) Feb 28, 2020
    Quarterly report (10-Q) Oct 30, 2019
    Proxy statement (DEF 14A) Apr 8, 2019
    Latest 8-K (8-K) Mar 24, 2020

Sources

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