{
  "report_rows": [
    {
      "kpi": "2Q26 total revenue",
      "prediction": "MISS",
      "answer": "pred ~$88M vs. cons $104M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "2Q26 GAAP EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~($2.06) vs. cons ($2.03)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Quarter-end cash, cash equivalents and investments",
      "prediction": "IN-LINE",
      "answer": "pred ~$6.8B vs. cons $6.8B",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 revenue outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~$2.14B vs. cons $2.05B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 year-end cash and investments",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.75B vs. cons $4.75B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 adjusted cash-cost outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.2B vs. cons $4.2B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Late-2026 pivotal-readout timing",
      "prediction": "UNCHANGED",
      "answer": "guide ~3 pivotal programs with 2026 data vs. cons 3 programs (2H26)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -4.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -6.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A ~$88M revenue result is below the ~$104M Street view and below the prior $50\u2013100M quarterly range midpoint, while likely reaffirmed FY26 targets leave the implied 2H26 revenue burden high: implied 2H26 revenue ~$1.65B versus consensus ~$1.56B. That combination should pull near-term revenue and cash-flow estimates lower despite an approximately in-line EPS result.",
  "day5_confidence": "MEDIUM"
}