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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-09-29 00:00:00",
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  "notes": "The slide uses a red box to highlight the negative values in the table and the corresponding footnote.",
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      "text": "We find subtle evidence of challenges faced, but not adequately disclosed, at Lightspeed. The Company reported negative stock compensation, and footnoted that it was related to cancelled options for departed employees in the R&D department. In light of our expert former employee interviews discussing platform integration challenges, we believe this footnoted disclosure to corroborate our findings.",
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      "text": "We find subtle evidence of challenges faced, but not adequately disclosed, at Lightspeed. The Company reported negative stock compensation, and footnoted that it was related to cancelled options for departed employees in the R&D department.",
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      "kind": "metric",
      "text": "stock-based compensation: (464)",
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      "text": "Source: Q2 2019 financials (no longer on website); see press release",
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      "text": "Negative Stock Compensation Disclosed After The March 2019 IPO",
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      "text": "Negative Stock Compensation In The R&D Department A Negative Signal",
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