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  "docSlug": "f2d2846f5efe",
  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-09-29 00:00:00",
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  "pageNumber": 30,
  "pageCount": 125,
  "prevPage": 29,
  "nextPage": 31,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": "Uses a red flag icon and red arrows to draw attention to the discrepancy in the company's own investor presentation.",
  "elementsJson": [
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  "metadataConfidence": 1,
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  "slideHref": "/slides/019dd923-622c-750b-8b99-20e88bb14fbb/30",
  "deckHref": "/decks/019dd923-622c-750b-8b99-20e88bb14fbb",
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  "components": [
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      "kind": "callout",
      "text": "Curiously, while striking a bullish tone in its marketing and PR materials, LSPD footnoted in its investor presentation that subsequent to year end March 31, 2020 its customer locations went down by 1,000 from 76,500 to 75,500 as of April 30, 2020. Within two quarters, LSPD would announce significantly larger deals for ShopKeep and Upserve.",
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    {
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      "kind": "callout",
      "text": "Curiously, while striking a bullish tone in its marketing and PR materials, LSPD footnoted in its investor presentation that subsequent to year end March 31, 2020 its customer locations went down by 1,000 from 76,500 to 75,500 as of April 30, 2020.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
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        "h": 0.48,
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        "x": 0.16,
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      },
      "kind": "image",
      "text": "Lightspeed at-a-glance infographic",
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    {
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      "kind": "metric",
      "text": "Customer Locations: 75,500",
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      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
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      "componentId": "019dd953-64cf-7128-a319-bb9a0f3adf05",
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      "kind": "source-note",
      "text": "Source: Q4 2020 Earnings Presentation",
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      "kind": "title",
      "text": "Falling Locations Footnoted Right Ahead of An Acquisition Spree",
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  "metrics": [],
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  "frameworks": [
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      "slug": null,
      "matchId": "d880613d-ae2e-44e1-a054-908c0397447a",
      "evidence": "Highlights a discrepancy between public marketing and internal footnotes to suggest misleading disclosure.",
      "confidence": 0.9
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      "arcName": "Overcoming the Monster",
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      "beatName": "Evidence",
      "beatSlug": "evidence",
      "evidence": "The document presents evidence of LSPD's deteriorating business and financials",
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  "loops": [
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      "name": "Iceberg",
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      "evidence": "The document presents evidence of LSPD's deteriorating business and financials",
      "position": 2,
      "objective": "Show hidden risks in LSPD's business",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
      "confidence": 0.7,
      "description": "Reveal that the visible problem is merely a symptom of a deeper root cause"
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