{
  "report_rows": [
    {
      "kpi": "Constant-currency ARR growth excluding divested businesses",
      "prediction": "BEAT",
      "answer": "pred ~8.8% vs. cons 8.5%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$620M vs. cons $614M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.55 vs. cons $1.49",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Net-new ARR",
      "prediction": "BETTER",
      "answer": "guide ~$82M vs. cons $80M (fiscal Q4 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Constant-currency ARR growth excluding divested businesses",
      "prediction": "BETTER",
      "answer": "guide ~8.75% midpoint vs. cons 8.7% (fiscal 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Free cash flow",
      "prediction": "UNCHANGED",
      "answer": "guide ~$850M vs. cons $850M (fiscal 2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Normalized free-cash-flow baseline",
      "prediction": "UNCHANGED",
      "answer": "guide ~$950M vs. cons $950M (fiscal 2027)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 6.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 3.0,
  "day5_path": "FADE",
  "day5_rationale": "An ARR beat and preserved Q4 step-up should drive an initial relief rally, but an approximately unchanged FY2026/FY2027 cash-flow framework and limited formal out-period upside should constrain estimate revisions and cause part of the day-1 move to fade.",
  "day5_confidence": "MEDIUM"
}