{
  "report_rows": [
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.315B vs. cons $1.30B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP Diluted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$0.67 vs. cons $0.61",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "U.S. Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$910M vs. cons $895M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Total Revenue Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$5.20B-$5.28B (mid $5.24B) vs. cons $5.21B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Non-GAAP Gross Margin Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~63-64% (mid 63.5%) vs. cons 63.7% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Non-GAAP Operating Margin Guidance",
      "prediction": "BETTER",
      "answer": "guide ~23.5-24% vs. cons 23.3% (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -1.2,
  "day1_confidence": "LOW",
  "day5_residual_pct": -0.5,
  "day5_path": "FADE",
  "day5_rationale": "Stock has rallied ~40% off April lows on Investor Day targets, CONNECT RCT data, TEMPO selection and a $1B buyback, leaving a high bar; DXCM's last two prints after similar run-ups (Jul-25, Oct-25) saw sharp sell-the-news drops (-9% and -15% residuals) even with decent headline numbers, so a likely beat-and-modest-raise this quarter risks an initial negative/muted reaction on 'no incremental NCD/CMS catalyst' or lingering fuel/resin margin commentary. However, the underlying beat (revenue, EPS, U.S. new-patient trends, T2NIT reimbursement wins) should support sell-side estimate increases into the following days, causing any initial knee-jerk weakness to partially fade rather than extend, unlike the Oct-25 episode where deeper structural concerns (competitive share, guidance cuts) drove follow-through selling.",
  "day5_confidence": "LOW"
}