{
  "report_rows": [
    {
      "kpi": "Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$885M vs. cons $868M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.90 vs. cons $1.89",
      "confidence": "LOW"
    },
    {
      "kpi": "ARR (Annual Recurring Revenue)",
      "prediction": "BEAT",
      "answer": "pred ~$1.55B vs. cons $1.53B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 revenue (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$3.70B / ~33% vs. cons $3.65B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 adj. EBITDA margin",
      "prediction": "UNCHANGED",
      "answer": "guide ~25.5% vs. cons 25.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Future contracted bookings growth",
      "prediction": "BETTER",
      "answer": "guide/actual ~+40% y/y (~$15B backlog) vs. cons ~+35% (Q2/exit-2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Adj. gross margin trajectory (H2 leverage)",
      "prediction": "UNKNOWN",
      "answer": "pred ~61.5% vs. cons ~62% (Q2 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -4.5,
  "day5_path": "FADE",
  "day5_rationale": "Even a likely beat-and-raise is discounted after a ~24% two-week run (incl. +15% in the last two sessions) into a rich multiple; the bar prices near-perfection. Out-period math is unfavorable \u2014 EPS is down y/y on tough tax comps, adj. gross margin is compressing (tariffs, memory inflation, Dedrone mix), and the ~$450M FCF target is heavily back-half loaded \u2014 so upward revisions are capped and net EPS estimates can drift lower even after a top-line beat. Stretched positioning + insider Form 144 selling favor a sell-the-news fade over the week.",
  "day5_confidence": "LOW"
}