{
  "report_rows": [
    {
      "kpi": "Total Revenue (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$1.92B vs. cons $1.88B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Billings (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$2.20B vs. cons $2.13B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP EPS (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$0.80 vs. cons $0.75",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Revenue Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$7.85-7.95B vs. cons $7.80B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Billings Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$8.95-9.20B vs. cons $8.95B (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "FY2026 Non-GAAP EPS Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.10-3.20 vs. cons $3.15 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3'26 Non-GAAP Operating Margin Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~33-35% vs. cons ~34% (Q3 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -3.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -5.0,
  "day5_path": "FADE",
  "day5_rationale": "Stock is priced for perfection after >100% run and 52x forward P/E vs 42x 5-yr avg, with analyst price targets ~20% below spot; a beat-and-raise that is only incremental relative to already-elevated buy-side whisper numbers (vs Q1's 20%+ growth blowout) is likely to trigger profit-taking. Second-half guidance is expected to remain 'prudent' (per Barclays channel checks) rather than aggressively raised, limiting forward EPS/revenue revision momentum; implicit deceleration from Q1's ~31% billings growth pace toward the ~20% guided range means out-quarter estimates get trimmed even after a headline beat, causing initial reaction to fade over the week as investors digest normalizing growth against a still-rich multiple and mixed AI-capex sentiment backdrop.",
  "day5_confidence": "LOW"
}