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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-04-17 00:00:00",
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  "notes": "The slide highlights a discrepancy between revenue growth and accounts receivable growth, using a table to demonstrate the trend.",
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      "text": "A review of PowerSchool's Days Sales Outstanding (DSOs) reveals the last three quarters quarters have seen double digit year-over-year increases. The growth in accounts receivables and DSOs are well in excess of revenue growth. We find these increases highly concerning as large increases in DSOs can signal that a company may be over-aggressively recognizing revenue and/or recognizing low-quality revenue.",
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      "text": "Source: Spruce Point Research",
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