A pre-hospital physician is considering the use of point-of-care blood gas analysis on a patient with respiratory failure. The device shows a pH of 7.18, PaCO2 of 9.8 kPa, PaO2 of 6.2 kPa, HCO3 of 26 mmol/L, and lactate of 1.2 mmol/L. What does this blood gas pattern indicate?