{
  "report_rows": [
    {
      "kpi": "Q2'26 Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1.85B vs. cons $1.80B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2'26 U.S. Commercial Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$690M (+~130% YoY) vs. cons ~$640M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2'26 Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.37 vs. cons $0.35",
      "confidence": "HIGH"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Revenue guide (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$7.85B vs. cons ~$7.75B (FY2026, vs prior guide $7.650-7.662B)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q3'26 Revenue guide",
      "prediction": "BETTER",
      "answer": "guide ~$1.95B vs. cons ~$1.92B (Q3 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 U.S. Commercial Revenue guide",
      "prediction": "BETTER",
      "answer": "guide >$3.35B vs. cons ~$3.30B (FY2026, vs prior >$3.224B)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Adj. Operating Income / margin guide",
      "prediction": "BETTER",
      "answer": "guide ~$4.60B (~59% margin) vs. cons ~$4.50B (FY2026, vs prior $4.440-4.452B)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 4.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": 1.0,
  "day5_path": "FADE",
  "day5_rationale": "Base case is a classic beat-and-raise (rev ~$1.85B >guide, FY raised again, U.S. commercial re-accelerating), which sparks a relief pop given the stock is already down ~23% from June highs with cleaner positioning. But at ~38x FY sales the multiple leaves no margin of safety, and the out-period math works against follow-through: consensus already embeds ~85% growth and ~60% margins, so even a strong raise implies only in-line/decelerating go-forward growth-rate optics. As the initial pop meets valuation/deceleration concerns and 'great-but-not-perfect' scrutiny, the idiosyncratic gain partially fades over the week.",
  "day5_confidence": "LOW"
}