Full Year 2025 Guidance: Dayforce (DAY) recurring revenue, excluding float, of $1,324 million to $1,344 million, an increase of 14.2% to 15.9% on a GAAP basis, or approximately 15% to 17% on a constant currency basis. Float revenue of $186 million. Adjusted EBITDA margin of 32%. Free cash flow margin of 13.5% to 14.0%, reflecting an increase from the previously issued guidance of 12.0%. This increase reflects the impact of the One Big Beautiful Bill Act, enacted by the U.S. Congress in July 2025. The legislative changes are expected to impact our future cash tax remittances, resulting from changes to tax deductibility rules for domestic research and development costs.
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