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Instructure’s first-quarter revenue climbs 13.6% as Canvas gains market share

May 2, 2023

Canvas has consistently grown over the past 10 years, with the LMS now being used by more than one-third of higher education institutions in the U.S. and Canada, according to an annual analysis from market research and consulting firm Phil Hill & Associates. Moodle and Blackboard each have 19% of the market share, followed by D2L’s Brightspace at 14%.

During the call to discuss Instructure earnings, one analyst expressed concerns about the company’s ability to continue gaining market share. But Daly said he’s “not really seeing a slowdown.”

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