{
  "docId": "019f6b8f-6a7b-7439-a2d1-f1c88e2f670d",
  "docSlug": "jarvis-starboard-value-wix-presentation-october-2022",
  "documentTitle": "Starboard Value Wix Presentation October 2022",
  "authorId": "starboard-value-wix-presentation-october-2022",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-10-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 37,
  "pageCount": 65,
  "prevPage": 36,
  "nextPage": 38,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 5,
  "notes": "Uses a combination of a growth chart and a direct quote from the former CFO to establish the baseline expectations.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d/37",
  "deckHref": "/decks/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d",
  "deckJsonHref": "/decks/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d.json",
  "deckAnchorHref": "/decks/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d#slide-37",
  "components": [
    {
      "bbox": {
        "h": 0.52,
        "w": 0.46,
        "x": 0.03,
        "y": 0.29
      },
      "kind": "chart",
      "text": "Reiterating ARR Growth Trajectory",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c1f5afeb-bc2e-4e66-8c34-f9b2dd033368",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.55,
        "x": 0.01,
        "y": 0.96
      },
      "kind": "other",
      "text": "Source: Company presentation and transcripts. Note: Company's Fiscal Year ends Jan 31. For simplistic purposes, we are assuming those financials are as of December 31. Quotes bolded and underlined for emphasis.",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fefe31fc-0906-45af-b441-81dab837c316",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.94,
        "x": 0.03,
        "y": 0.13
      },
      "kind": "paragraph",
      "text": "Amidst a complex business transition, in October 2020, the Company laid out aggressive financial targets of 40% ARR CAGR over the next three years and 20% cash flow margins post-transition.",
      "attrs": null,
      "subkind": "description",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cbf66903-c240-4dfc-9459-0a56269d3e82",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.19,
        "x": 0.78,
        "y": 0.67
      },
      "kind": "paragraph",
      "text": "– Jason Child, Former CFO",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1ebad86f-d00c-4394-888d-e500ed5bee75",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.44,
        "x": 0.53,
        "y": 0.35
      },
      "kind": "quote",
      "text": "And by the time we reach [CY2022], we should reach a more normalized cash yield as a percentage of ARR as we were seeing in previous years before the transition, which is in the 20% range.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "48de96a1-8d9a-4ba3-8527-8f7d8ff6830e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.03,
        "y": 0.06
      },
      "kind": "title",
      "text": "Splunk Laid Out Aggressive Long-Term Financial Targets...",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "adf6d894-3267-44c5-80c0-7056bb148e7c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "89dd8679-6651-4281-8e6d-2f0bd85613ba",
      "evidence": "Uses a direct quote from the former CFO to establish a baseline that will likely be contradicted in subsequent slides.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 64,
      "from": 19,
      "beatId": "d0aac4aa-f911-4562-96b8-bc225a9cfcda",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The document presents Starboard Value's solution and approach to improve growth and profitability in Wix, Splunk, and Salesforce.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}