Alight, Inc. - ALIT STOCK NEWS

Alight has released its 2024 annual enrollment analysis, revealing significant shifts in employee preferences for healthcare benefits. Nearly 96% of employees enrolled through digital channels, with mobile app usage soaring by 69% compared to 2023. A steady 74% of employees opted for employer-sponsored plans, with Preferred Provider Organizations (PPOs) leading at 40% and High-Deductible Health Plans (HDHPs) at 36%. Health Savings Account (HSA) contributions continued to rise, with 72% of eligible employees participating, up from over 60% in 2023. Interest in voluntary benefits also grew, with supplemental health coverage rising to 33% and Spouse Whole Life coverage increasing by five points.

Employers are encouraged to adopt a technology-first approach to benefits enrollment, offering personalized tools and guidance to meet the diverse needs of their workforce. Despite high digital engagement, fewer than two-thirds of employees felt confident in their health plan choices, highlighting the need for better decision-making tools and ongoing support.

Alight (NYSE: ALIT), a cloud-based human capital technology and services provider, has announced that Cannae and Board Chairman William P. Foley, II sold 12 million shares of Alight's common stock. The sale was conducted to address Cannae's liquidity requirements, as the company does not generate operating income. Foley stated that Cannae has no plans for additional Alight share sales in the near future and maintains strong confidence in Alight's long-term prospects and financial profile.

Alight (NYSE: ALIT) announced that CFO Jeremy Heaton will present at the UBS Global Technology and AI Conference in Scottsdale, Arizona. The presentation is scheduled for Wednesday, December 4, 2024, at 12:15 p.m. MST and will be accessible through a live webcast with replay availability.

Alight (NYSE: ALIT) announced a collaboration with Avanade to integrate Alight Worklife® with Microsoft Teams, enhancing employee benefits experience. The integration will provide seamless access to benefits and wellbeing information directly within Teams platform.

Key features include AI Personalized Recommendations, an Interactive Virtual Assistant offering 24/7 support, Account Summary dashboard, and secure authentication. The application will be available to employers using both Teams and Alight Worklife in the next platform release.

Alight (NYSE: ALIT) reported Q3 2024 results with revenue of $555 million, a slight decrease of 0.4% year-over-year. The company achieved notable wins with Hewlett Packard Enterprise, Nokia, and Siemens. BPaaS revenue grew 18.6% to $121 million, representing 21.8% of total revenue. Gross profit margin improved to 31.4% from 29.8%. The company initiated a quarterly dividend program of $0.04 per share and repurchased $75 million of common stock. Alight raised its revenue guidance range for Q4 2024 to $665-685 million, with adjusted EBITDA expected between $208-233 million.

Alight's 2024 International Workforce and Wellbeing Mindset Study reveals a significant decline in employee wellbeing, with only 44% rating their wellbeing positively - a seven-point drop from last year. The study highlights that 41% of employees would reconsider leaving their jobs if offered better benefits, while one in five are actively seeking new employment within the next year.

Key findings show that workers are experiencing increased stress and burnout, with 43% reporting burnout symptoms affecting their work. Financial challenges are prevalent, with nearly half of workers just getting by. The study emphasizes that employers offering comprehensive support tools see better outcomes: 57% of supported employees report positive wellbeing compared to 42% of unsupported employees, and 61% versus 46% rarely consider leaving their current position.

Alight (NYSE: ALIT) has scheduled its third quarter 2024 financial results announcement for Tuesday, November 12, 2024. The company will release results before the market opens, followed by a management discussion webcast at 8:30 a.m. ET. The webcast and financial presentation will be accessible to the public through the Events & Presentations section of the company's website.

Agilis Partners has launched PensionBuilder™, a patent-pending solution providing lifetime retirement income for employees and retirees. The system enables eligible participants to convert defined contribution plan savings into lifetime income through competitive annuity purchases from leading insurers at group pricing rates. Alight Solutions (NYSE: ALIT) will provide comprehensive support services including call center assistance and website management.

PensionBuilder allows participants to select their desired conversion amount and annuity payment form during a time- window. The solution operates outside the plan via Individual Retirement Accounts (IRAs), avoiding in-plan annuity option restrictions. The service comes at no cost to companies, with Agilis acting as a fiduciary in insurer selection.

Lyra Health, a leading provider of Workforce Mental Health solutions, has joined the Alight Partner Network. This collaboration with Alight, Inc. (NYSE: ALIT) aims to expand access to mental health benefits for employees and their families. The partnership offers:

1. Seamless integration via Single Sign-On to Lyra's mental health care within the Alight Worklife® platform
2. Enhanced administrative support with automated eligibility file management
3. Increased cost savings for employers, with every dollar invested in Lyra returning more than $3 in savings

Lyra's services include personalized mental health support for all age groups, with first appointments available within 24 hours. The company's commitment to evidence-based treatments has led to equitable mental health outcomes across race and ethnicity, as demonstrated in 16 published peer-reviewed studies.