What: Shares of Textura Corp. (NYSE:TXTR) fell as much as 23.6% early Tuesday, and traded down 19.5% as of 11:30 a.m. after the construction collaboration solutions provider announced mixed third-quarter results and disappointing guidance.

So what: Quarterly revenue climbed 38% year over year to $22.5 million, driven by a 42% increase in activity-driven revenue to $18.4 million, and 20% growth in organization-driven revenue to $4.1 million. Billings also rose 39% year over year to $26.1 million, 7% of which is associated with multiyear deals.

Trending toward the bottom line, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $3.1 million, compared to a $1 million adjusted EBITDA loss in the year-ago period. Based on generally accepted accounting principles (GAAP), Textura's net loss narrowed to $2.5 million from $7.5 million in last year's third quarter. On a non-GAAP (or adjusted) basis -- which adds perspective by excluding things like share-based compensation and expenses related to acquisitions -- Textura achieved net income of $1.8 million, or $0.07 per share, compared to an adjusted net loss of $0.07 per share in the year-ago period.

Analysts, on average, were expecting higher revenue of $23 million, but lower adjusted net income of $0.06 per share.

Now what: For the current quarter, however, Textura expects revenue in the range of $23 million to $24 million -- or 31.5% growth at the midpoint -- and adjusted earnings per diluted share of $0.06 to $0.09. By contrast, analysts' models called for higher fourth-quarter revenue of $25.7 million, and earnings at the top end of Textura's range.

During the subsequent conference call, Textura CFO Jillian Sheehan explained,

[W]hile we are beginning to see some success in Europe and are encouraged by the recent progress and robust sales pipeline, the ramp of our international business is taking longer than originally expected. [W]e have also seen slower growth than expected for two of our non-CPM solutions, which we are taking steps to address. Finally, similar to other companies, we too have been affected by the strong U.S. dollar in other countries where we do business -- namely, Canada."

Specifically regarding foreign exchange, after having no negative influence on results in the first half of the year, Canadian currencies are now expected to negatively impact 2015 revenue by roughly $500,000.

But arguably more concerning for investors is Textura's slower growth both internationally and from those two solutions outside the CPM (construction payment management) industry. For now, while it might be tempting to dive in after today's drop, I'm still content watching Textura over the next quarter or so to see whether both these potentially temporary issues show signs of abating.

Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.