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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": "PowerSchool has historically capitalized software development costs at a rate of 10%+ of total operating expenses, among the highest rates observed across PowerSchool's peer group and roughly 2x-3x the median rate.",
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