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  "documentTitle": "Enfusion, Inc. (ENFN)",
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  "presentationDate": "2024-03-14 00:00:00",
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  "notes": "The slide uses red boxes to highlight the inconsistent starting balance figures (1,611 vs 1,225) and a red arrow to visually connect the discrepancy.",
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      "text": "Spruce Point is alarmed that ENFN appears to have revised its starting bad debt allowance as of Dec 31, 2022. The Company did not call out this change or cite an “immaterial error” which is often customary by public companies. If the bad debt allowance is being manipulated, it stands to reason that revenues may also be manipulated too.",
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      "text": "If the bad debt allowance is being manipulated, it stands to reason that revenues may also be manipulated too.",
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      "text": "bad debt allowance: 1,611",
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      "text": "Source: ENFN SEC filings",
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      "text": "Q1 2023, Q2 2023, and Q3 2023 tables showing allowance activity and the inconsistent Dec 31, 2022 balance.",
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      "text": "Revisions/Errors To Bad Debt Accounts",
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