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  "documentTitle": "Forescout Technologies (FSCT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2020-05-13 00:00:00",
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  "notes": "Uses three tables to demonstrate the discrepancy between management's optimistic guidance and the analyst's more conservative projections.",
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      "text": "Extrapolating the anticipated Q1 18% sales contraction throughout the year would suggest that full-year FY20 sales could be as low as $276M - and this is before taking into account the potential effects of the pandemic on business performance.",
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      "text": "Revenue: $276.2M",
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      "text": "Management's (4) Illustrative Guidance – which was intended for the Q4 FY19 earnings call, but which was never ultimately released outside of the deal proxy statement – forecasts Q1 FY20 sales of $62M and full-year FY20 sales of $355M.",
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      "text": "FSCT Growth Projection: Extrapolating Q1 FY20 Growth Rate",
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      "text": "Can The (Unreleased) Guidance Even Be Trusted?",
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