{
  "report_rows": [
    {
      "kpi": "Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$2.86B vs. cons $2.81B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "da Vinci procedure growth (YoY)",
      "prediction": "BEAT",
      "answer": "pred ~16.5% vs. cons ~15%",
      "confidence": "HIGH"
    },
    {
      "kpi": "Non-GAAP EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.56 vs. cons $2.48",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 da Vinci procedure growth guide",
      "prediction": "BETTER",
      "answer": "guide ~14.5-16% vs. cons ~15% (FY2026, prior range 13.5-15.5%)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 non-GAAP gross margin guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~67.5-68.5% vs. cons ~68% (FY2026, tariff/memory drag embedded)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "da Vinci I&A revenue per procedure (recurring-revenue referendum)",
      "prediction": "UNKNOWN",
      "answer": "pred ~$1,870-1,900 vs. cons ~$1,880 (Q2, instrument-life extension is the swing risk)",
      "confidence": "LOW"
    },
    {
      "kpi": "System placements (da Vinci + dV5 mix)",
      "prediction": "BETTER",
      "answer": "pred ~430 da Vinci (~240 dV5) vs. cons ~415 (Q2, vs 395 yr-ago)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 6.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 3.5,
  "day5_path": "FADE",
  "day5_rationale": "Washed-out sentiment (stock -33% YTD, multiple compressed to ~46x from ~72x) plus ISRG's historical beat-and-raise pattern set up a sharp relief pop on a clean procedure beat and raised full-year guide. But the rally partially fades over the week because the out-period math works against it: the instrument-life/reuse extensions structurally lower future I&A revenue-per-procedure, and tariff/memory/dV5-mix pressure caps gross-margin upside, so analysts trim out-year recurring-revenue and margin estimates even after a headline Q2 beat \u2014 leaving day-5 residual positive but below the day-1 spike.",
  "day5_confidence": "LOW"
}