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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
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  "presentationDate": "2024-04-17 00:00:00",
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  "notes": "The slide uses a waterfall-style chart to show the expansion of TAM from $25B to $100B+.",
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      "text": "PowerSchool has aggressively expanded its reported TAM by 4x since filing its IPO prospectus. We believe this is a more accurate representation of PowerSchool's TAM. Management justifies the increase based on its perceived opportunity in personalized learning.",
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      "text": "We believe the expanded TAM is an attempt by management to attach itself to the latest AI craze and give the market the perception they are a high-growth company",
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      "text": "Total Addressable Market: $100B+",
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      "text": "PowerSchool serves a large addressable market opportunity globally... Based on an analysis by Frost & Sullivan that we commissioned in connection with this offering, we estimate the global total available market... to be approximately $25 billion.",
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      "text": "Based on an analysis by Frost & Sullivan that we commissioned in connection with this offering, we estimate the global total available market for PowerSchool's current set of solutions to be approximately $25 billion.",
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      "text": "Source: PowerSchool Investor Presentation (September 2023), IPO Prospectus",
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      "text": "PowerSchool Has Increased Its Reported TAM By 4x Since Its IPO",
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