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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-04-17 00:00:00",
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      "text": "The median impairment observed was 22.8%; if PowerSchool had to take an impairment this large, it would wipe out over 30% of the value of its book equity.",
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      "text": "Goodwill & Intangible Assets as % of Total Assets: 91.4%",
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      "text": "Our analysis of 18 companies that have booked major impairments to goodwill and intangible assets over the last 12 months shows that the median impairment as a % of pre-impairment goodwill & intangibles is 22.8%. Of the companies we observed, PowerSchool has the highest level of goodwill & intangible assets as a percentage of total assets.",
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