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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-04-17 00:00:00",
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      "text": "At its September 2023 investor day, PowerSchool gave details for its plan to reach $1 billion in revenue by 2026, representing a ~13% CAGR between 2023-2026. We believe this plan is unlikely to succeed and is an attempt by management to gloss over the fact that its core North American market will likely experience major headwinds in 2025.",
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      "text": "We believe this plan is unlikely to succeed and is an attempt by management to gloss over the fact that its core North American market will likely experience major headwinds in 2025.",
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      "text": "Waterfall chart showing growth from $691M in 2023 to $1B+ in 2026E via U.S. & Canada, International Expansion, and Personalized Education.",
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      "text": "revenue: $1B",
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      "text": "Source: PowerSchool Investor Presentation (September 2023)",
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      "text": "Our 3 Year Path to $1+ Billion",
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      "text": "We Believe PowerSchool's Financial Targets For 2026 Are Unrealistic",
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