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  "docSlug": "f687a225f056",
  "documentTitle": "Enfusion, Inc. (ENFN)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-03-14 00:00:00",
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  "notes": "The slide uses SEC correspondence as a catalyst for the data presentation, framing the RPO decline as a negative indicator.",
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      "kind": "callout",
      "text": "In a comment letter from the SEC on April 14, 2023 it asked ENFN to disclose more details about Remaining Performance Obligation. Subsequently, ENFN provided RPO by date through 2027.",
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      "text": "Remaining Performance Obligation: $29.1",
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      "text": "Enfusion's Remaining Performance Obligation - a measure of revenues over the next few years expected to be recognized for unfulfilled contracts - is trending negatively and did not grow at all in the last quarter of 2023.",
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      "text": "Source: ENFN SEC filings and comment letter",
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      "text": "Remaining Performance Obligation Declined Throughout 2023",
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