“Stock based compensation is now expected to be 8.4% as a percent of revenue.”

In context

“ss to be a headwind to revenue and we expect deceleration in our license revenue growth in the back half of the year. This is due to the tough compare from a very strong performance last year and the volatility of license revenue recognition. For subscription and support revenue, we still expect approximately 10% growth year-over-year in constant currency. And we expect attrition to remain generally consistent at slightly above 8% for the full year. Now turning to profitability and cash flow. On margins, as a result of our strong Q2 performance, we are raising our fiscal '25 non-GAAP operating margin to 32.8%, representing a 230 basis point improvement year-over-year. This incorporates intentional investments in growth opportunities, notably AI and Agentforce data and our core businesses. Stock based compensation is now expected to be 8.4% as a percent of revenue. The modest increase from our prior guidance is primarily a result of the mechanical ESPP reset. As a result, for fiscal year '25, GAAP operating margin guidance is now expected to be slightly below 20%, representing 530 basis points of improvement year-over-year, which includes a slight increase in restructuring charges from our ongoing cost transformation. We expect fiscal year '25 GAAP diluted EPS of $6.05 to $6.13. Non-GAAP diluted EPS is expected to be $10.03 to $10.11. As you have heard us emphasize over the last few quarters, we are focused on driving continued free cash flow expansion. As a result of our disciplined capital deployment, we are raising fiscal year '25 operating cash flow growth to be approximately 23% to 25%, inclusive of cash tax headwind. We now expect CapEx for th”