{
  "report_rows": [
    {
      "kpi": "Constant-currency ARR growth ex-divestitures",
      "prediction": "BEAT",
      "answer": "pred ~8.8% vs. cons 8.6%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net-new ARR",
      "prediction": "BEAT",
      "answer": "pred ~$53M vs. cons $49M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Free cash flow",
      "prediction": "BEAT",
      "answer": "pred ~$246M vs. cons $243M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 constant-currency ARR growth ex-divestitures",
      "prediction": "UNCHANGED",
      "answer": "guide ~8.5% vs. cons 8.5% (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 free cash flow",
      "prediction": "UNCHANGED",
      "answer": "guide ~$850M vs. cons $850M (FY26)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY26 non-GAAP EPS",
      "prediction": "BETTER",
      "answer": "guide ~$7.85 vs. cons $7.75 (FY26)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 3,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 2,
  "day5_path": "STABILIZE",
  "day5_rationale": "A ~8.8% ARR result versus 8.6% consensus and ~$53M net-new ARR versus $49M should support an initial positive reaction, but an FY26 ARR guide of ~8.5% versus 8.5% consensus leaves FY27 out-period ARR math largely unchanged; estimate revisions should be modest after the initial ~3.0% residual move, stabilizing near ~2.0% by day five.",
  "day5_confidence": "MEDIUM"
}