Quantum error correction (QEC) is essential for scalable quantum computing. However, it requires classical decoders that are fast and accurate enough to keep pace with quantum hardware. While quantum low-density parity-check codes have recently emerged as a promising route to efficient fault tolerance, current decoding algorithms do not allow one to realize the full potential of these codes in practical settings. Here, we introduce a convolutional neural network decoder that exploits the geometric structure of QEC codes, and use it to probe a novel "waterfall" regime of error suppression, demonstrating that the logical error rates required for large-scale fault-tolerant algorithms are attainable with modest code sizes at current physical error rates, and with latencies within the real-time budgets of several leading hardware platforms. For example, for the $[144, 12, 12]$ Gross code, the decoder achieves logical error rates up to $\sim 17$x below existing decoders - reaching logical error rates $\sim 10^{-10}$ at physical error $p=0.1\%$ - with 3-5 orders of magnitude higher throughput. This decoder also produces well-calibrated confidence estimates that can significantly reduce the time overhead of repeat-until-success protocols. Taken together, these results suggest that the space-time costs associated with fault-tolerant quantum computation may be significantly lower than previously anticipated.