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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-04-17 00:00:00",
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  "notes": "The slide highlights a 'New High' for PWSC in Q4'23.",
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      "text": "PowerSchool's allowance for doubtful accounts as a percentage of accounts receivable was the second highest observed over the last ten quarters. This is an indication that PowerSchool is either booking low quality revenue and/or customer quality in general may be low.",
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      "text": "Allowance as % of A/R, gross: 9.4%",
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      "text": "We analyzed software companies with similar customer bases (K-12 education/government/non-profit); PowerSchool's allowance for doubtful accounts as a percentage of accounts receivable was the second highest observed over the last ten quarters.",
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      "text": "Source: Spruce Point Research",
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      "text": "Comparative table of financial metrics for PWSC, INST, LRN, TYL, BLKB",
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      "kind": "title",
      "text": "PowerSchool's Bad Debt Reserve Balance Is The Highest Among Peers And Growing",
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