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  "docSlug": "jarvis-starboard-value-wix-presentation-october-2022",
  "documentTitle": "Starboard Value Wix Presentation October 2022",
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  "documentKindSlug": "activist-deck",
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  "presentationDate": "2022-10-01 00:00:00",
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  "pageNumber": 44,
  "pageCount": 65,
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  "density": "balanced",
  "nDataPoints": 22,
  "notes": "The chart uses a red bar for Splunk to emphasize its underperformance relative to the peer median.",
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  "slideHref": "/slides/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d/44",
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      "kind": "callout",
      "text": "We believe a large margin expansion opportunity exists at Splunk",
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      "kind": "chart",
      "text": "CY2022E Free Cash Flow Margin",
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      "kind": "other",
      "text": "Source: Public company filings, Capital IQ. Note: Splunk FCF margin is calculated as % of ARR.",
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      "text": "The new management team has significant opportunity to improve free cash flow margins to be in-line with peers.",
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      "text": "Splunk Has a Significant Opportunity to Drive Margin Expansion",
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      "evidence": "Comparison of Splunk's FCF margin against a peer group to identify performance gap.",
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      "evidence": "The document presents Starboard Value's solution and approach to improve growth and profitability in Wix, Splunk, and Salesforce.",
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