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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2021-09-29 00:00:00",
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      "kind": "callout",
      "text": "We estimate sales declined 24% and losses almost doubled in the quarter after LSPD acquired Gastrofix.",
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      "text": "Limitation on Scope of Design... Gastrofix's contribution to our Consolidated Statements of Loss... was approximately 3% of total revenues and approximately 1% of total net loss.",
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      "text": "Limitation on Scope of Design... Gastrofix's contribution to our Condensed Interim Consolidated Statements of Loss... was approximately 8.1% of total revenues and approximately 5.5% of total net loss.",
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      "text": "Q1'21 quarterly sales = $36.2m... 8.1% = $2.9m... Q1'21 loss of ($20.1)m... 5.5% = ($1.1)m",
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      "text": "FY 20 Sales = $120.6m... Q4'20 quarterly sales at $3.9m... Net loss = ($53.5)m... Gross-up = ($0.6)m",
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      "text": "Figuring Out How Poorly Gastrofix Performed",
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