{
  "docId": "019dd923-622c-750b-8b99-265d3ab25ee2",
  "docSlug": "062cb2b9b6a4",
  "documentTitle": "Nuvei Corp (NVEI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-12-09 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 109,
  "pageCount": 119,
  "prevPage": 108,
  "nextPage": 110,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 12,
  "notes": "The slide uses red boxes and arrows to visually highlight inconsistencies in reported financial data between two different reporting periods.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "screenshot",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-265d3ab25ee2/109",
  "deckHref": "/decks/019dd923-622c-750b-8b99-265d3ab25ee2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-265d3ab25ee2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-265d3ab25ee2#slide-109",
  "components": [
    {
      "bbox": {
        "h": 0.07,
        "w": 0.84,
        "x": 0.08,
        "y": 0.185
      },
      "kind": "callout",
      "text": "Reclassifications related to FX gains/losses in net finance cost and SG&A have been disclosed, but revenue revisions are continuing into Q3 2021.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "492e97b2-b568-4c51-89f4-02d009fdcc7a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.02,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Source: Nuvei Financials",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "412cdd59-5277-4c7c-b170-4c3d6f53054d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.48,
        "x": 0.51,
        "y": 0.315
      },
      "kind": "table",
      "text": "Nuvei Corporation Q3 2020 Report",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2ff87c3-f35f-45c0-8c1a-60b3d55a1a1d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.49,
        "x": 0.02,
        "y": 0.315
      },
      "kind": "table",
      "text": "Nuvei Corporation Q3 2021 Report",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f8ea0d8e-5eb0-4042-99d2-bf204c0f7722",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.65,
        "x": 0.31,
        "y": 0.05
      },
      "kind": "title",
      "text": "Financial Statement Revisions Now Increasing",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5a26eaad-28d7-4a05-9db4-c06b080682be",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "66d1b44b-f9ef-4d96-8e1e-398df312e422",
      "evidence": "Highlighting discrepancies in financial reporting to suggest manipulation",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 119,
      "from": 101,
      "beatId": "b94975d4-250f-467c-aa0c-c24a3daa36e2",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The conclusion and call to action",
      "beatSlug": null,
      "evidence": "The deck concludes with a strong call to action, reiterating the potential downside risk to Nuvei's share price.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 119,
      "from": 101,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "62a95e11-2bcf-4a42-a377-d2ef6fc7af71",
      "evidence": "The deck concludes with a warning of potential downside risk to Nuvei's share price.",
      "position": 1,
      "objective": "What are the consequences of not selling Nuvei Corp shares?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}