Welcome to our dedicated page for Alight news (Ticker: ALIT), a resource for investors and traders seeking the latest updates and insights on Alight stock.
Alight, Inc. (NYSE: ALIT) is a leading cloud-based provider of integrated digital human capital and business solutions. Alight leverages its proprietary AI and data analytics to optimize Business Process as a Service (BPaaS), delivering superior outcomes for employees and employers across a comprehensive portfolio of services. With a staunch belief that a company's success starts with its people, Alight helps organizations of all sizes enrich employee health, wealth, and work while fostering a high-performance culture.
Alight's innovative solutions include benefits administration, healthcare navigation, payroll processing, and HR management, all unified under the Alight Worklife® platform. This platform combines data-driven insights with a seamless user experience, enabling 36 million people and dependents to make confident health, wealth, and wellbeing decisions.
In 2023, Alight reported notable financial achievements, including robust BPaaS bookings of $261 million in Q4, annual cash from operations increasing by $100 million to $386 million, and surpassing its adjusted EPS guidance range. For 2024, Alight has $3 billion of revenue under contract, underscoring its strong market position.
Alight continues to innovate and expand its offerings. Recent highlights include the integration of SAP S/4HANA Cloud into its payroll services, new enhancements to its LeavePro absence management software, and strategic partnerships. The company’s focus on delivering personalized, data-driven solutions helps employers optimize costs, improve employee engagement, and achieve better outcomes.
Headquartered in Lincolnshire, Illinois, Alight employs over 15,000 dedicated colleagues who serve more than 30 million employees and family members. The company prides itself on its commitment to sustainability, diversity, and ethical business practices, as demonstrated in its 2024 Global Impact Report.
For more information, visit Alight's website.
Alight, Inc. (NYSE: ALIT) has expanded its Alight Partner Network by adding two innovative partners: Journey and Carrot Fertility. Journey offers a proactive employee assistance program (EAP) focused on comprehensive mental health support, while Carrot Fertility provides global fertility and family-building benefits.
Journey's key features include customized engagement, rapid access to care, global accessibility, and robust preventive digital resources. Carrot Fertility offers personalized care for various family-building stages, global reach with access to over 11,000 clinics across 170+ countries, and regulatory and financial guidance.
These additions aim to enhance employee wellbeing and help employers create a more comprehensive benefits environment within the Alight Worklife® platform.
Alight, Inc. (NYSE: ALIT) announced the results of Forrester's Total Economic Impact™ study, evaluating the ROI of Alight Worklife for employee benefits management. The study, based on a client interview, revealed significant benefits:
- 112% ROI
- $2 million annual health cost savings
- Payback period under 12 months
- $4.8 million net present value over three years
The study highlighted productivity gains of 25% in benefits administration and the platform's integration with over 600 benefits ecosystem programs. Greg Goff, President at Alight, emphasized how their AI-powered solutions are reshaping the benefits landscape, improving financial outcomes and employee experiences.
Alight (NYSE: ALIT), a leading cloud-based human capital technology and services provider, has announced its participation in the Citi Global TMT Conference. The company's CEO, Dave Guilmette, and CFO, Jeremy Heaton, will present at the event on Thursday, September 5, 2024, at 8:20 a.m. ET in New York City.
The presentation will be accessible via live webcast and replay, allowing interested parties to tune in remotely. This participation in a major technology, media, and telecommunications conference highlights Alight's position in the industry and provides an opportunity for investors and analysts to gain insights into the company's strategies and performance.
Alight, Inc. (NYSE: ALIT) has appointed Dave Guilmette as its new Chief Executive Officer, replacing Stephan Scholl as part of a planned succession. Guilmette, who will continue as Vice Chair of the Board, brings extensive experience in the healthcare and benefits industry. He previously served as CEO of Aon's Global Health Solutions division.
The Board of Directors, led by Chair William P. Foley II, expressed confidence in Guilmette's ability to guide Alight forward as a simplified platform company. This transition follows the completion of Alight's technology transformation and the divestiture of its Payroll & Professional Services business.
Alight has reiterated its 2024 second half business outlook, signaling continuity in its financial projections despite the leadership change. The company aims to focus on technology-rich services to enhance competitiveness and deliver greater value to clients.
Alight, Inc. (NYSE: ALIT) has successfully completed its cloud migration program, transitioning from its Lincolnshire Data Center to an AWS environment. This transformation is expected to achieve $75 million in annualized savings and significantly enhance the Alight Worklife® platform. Key results include:
1. Platform simplification: 40% reduction in servers, 60% reduction in middleware systems, and 95% reduction in operating systems.
2. Enhanced performance: 43% faster response time for Health Enrollment pages and 30% faster load time for the Alight Worklife homepage.
3. Improved availability and security: 85% increase in security control adoption and enhanced availability across three AWS locations.
This cloud-based foundation is designed to drive innovation, improve performance, and streamline infrastructure, positioning Alight to better serve its clients and their employees.
Alight, a leading cloud-based human capital technology and services provider, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The company's President, Greg Goff, will be presenting at the event on Tuesday, August 13, 2024, at 9 a.m. ET in Boston.
This presentation offers an opportunity for investors and industry professionals to gain insights into Alight's growth strategies and market position. The event will be accessible via live webcast, allowing remote attendance for those unable to be present in person. Additionally, a replay of the presentation will be available for those who cannot attend the live session.
Alight's participation in this prestigious conference underscores its commitment to engaging with the investment community and showcasing its innovative solutions in the human capital technology sector.
Alight Inc (NYSE: ALIT) reported Q2 2024 results for continuing operations, with revenue decreasing 4.1% to $538 million. BPaaS revenue grew 12.7% to $115 million, representing 21.4% of total revenue. The company announced a CEO succession plan, with Stephan Scholl stepping down after a successor is named. Key wins included UPS, Wayfair, American Honda Motor Company, and The Adecco Group. Alight repurchased $80 million of common stock and completed its cloud migration program. The company provided a second half 2024 outlook, projecting revenue of $1.207-$1.232 billion and adjusted EBITDA of $326-$351 million. Alight also completed the sale of its Payroll and Professional Services business in July 2024.
Alight, Inc. (NYSE: ALIT) has announced the second major release of Alight Worklife for 2024, its employee experience platform. The update focuses on increasing efficiency, enhancing user experience, and enabling smarter benefits decisions. Key features include:
1. AI-powered automation for spending account claims, improving accuracy and speed of reimbursements.
2. Seamless mobile experience with native document upload and photo capture for claims submission.
3. Two-way, real-time integration for faster Evidence of Insurability (EOI) decisions.
4. Advanced search enhancements and expanded vendor integrations.
5. Enhanced Healthcare Navigation with improved Health Pro Connection experience.
6. Integrated Provider Quality Search during Annual Enrollment.
7. Online retirement kits and after-tax automatic conversion to Roth for defined contribution plans.
Alight (NYSE: ALIT) has announced that it will release its second quarter 2024 results before the market opens on Tuesday, August 6, 2024. Following the release, the company's management will host a webcast at 8:30 a.m. ET to discuss the results. Investors and interested parties can access the webcast and accompanying presentation of financial information through the 'Events & Presentations' section of Alight's website. This announcement provides shareholders and analysts with a clear timeline for when to expect Alight's latest financial performance data and the opportunity to hear directly from management about the company's progress and outlook.
Alight (NYSE: ALIT) has finalized the sale of its Professional Services segment and Payroll & HCM Outsourcing businesses to an affiliate of H.I.G. Capital for up to $1.2 billion. The transaction includes $1 billion in cash upfront and up to $200 million in seller notes, contingent on performance targets for 2025. Most proceeds will reduce Alight's debt, lowering its net leverage ratio below three times. The remaining funds will go toward share repurchases and general corporate needs. CEO Stephan Scholl highlighted this move as a strategic step to simplify Alight's focus on employee wellbeing and benefits. A webcast will be posted on July 18, 2024, detailing pro forma results.
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