{
  "report_rows": [
    {
      "kpi": "Subscription Revenue (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$3,845M vs. cons ~$3,825M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Current RPO growth (cc, Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~19.8% vs. cons/guide 19.5%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP EPS (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$0.88 vs. cons ~$0.86",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Subscription Revenue Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$15,800-15,850M vs. cons ~$15,760M (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 Non-GAAP Operating Margin Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~31.5% vs. cons ~31.5% (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3'26 cRPO growth (cc) guide",
      "prediction": "LOWER",
      "answer": "guide ~19.0% vs. cons ~19.5% (Q3 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 4.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 6.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Stock is ~33% off highs and deeply oversold heading into print, with bearish (CLSA) and bullish (Oppenheimer/Guggenheim) views wide apart, meaning a beat-and-raise plus explicit pushback on IBM-style budget-reallocation fears should trigger short-covering and sell-side target/estimate revisions upward over the following days; FY26 subscription raise and reaffirmed AI-ACV trajectory (still tracking toward/above $1.5B) support continued buying, though the guided cRPO deceleration to ~19.5% cc (partly Armis termination-for-convenience mechanics) caps enthusiasm and could cause partial fade if framed as demand softening rather than mechanical, so net effect is follow-through rather than full reversal.",
  "day5_confidence": "LOW"
}