Alight Inc Stock Price, News & Analysis

Alight, Inc. (NYSE: ALIT) has announced a secondary public offering of up to 40 million shares of its Class A common stock by certain affiliated funds, including Blackstone Inc. and others. Notably, Alight will not sell any shares nor receive proceeds from this offering. The Selling Stockholders may grant underwriters a 30-day option to purchase an additional 6 million shares. Concurrently, Alight will repurchase $10 million worth of its Class A common stock from these investors. J.P. Morgan and BofA Securities are acting as joint lead book-running managers for the offering. A registration statement has been filed with the SEC, which became effective on April 20, 2022.

Alight reported a 7.4% revenue growth for 2022, surpassing guidance of 6-7%. Notably, its BPaaS revenue increased by 44.6% to $564 million, comprising 18% of total revenue. Fourth quarter revenue rose 9.0% to $942 million, with BPaaS bookings soaring 114.7% to $307 million. Adjusted EBITDA for the year was $659 million, aligning with expectations. For 2023, Alight forecasts revenue between $3.47 billion and $3.51 billion, reflecting a growth of 11-12%. A strategic restructuring program expected to yield $100 million in annual savings is set to commence in Q1 2023.

Alight, Inc. (NYSE: ALIT) announced that Denise Williams will join its Board of Directors effective February 3, 2023. Williams, who serves as chief people officer at FIS, brings over 25 years of human resources experience from notable companies such as IBM, Alliance Bernstein, and Coopers & Lybrand. Chairman William P. Foley highlighted her unique qualifications to offer insights as a key buyer of Alight's products and to advise on the company’s people agenda. Alight plans to expand its independent directors in the coming quarters, enhancing its governance as it navigates transformation in employee experience through innovative technology.

Alight (NYSE: ALIT) will release its fourth quarter and full year 2022 earnings results after market close on February 21, 2023, followed by a conference call at 5 pm ET. The earnings call will be accessible via phone and a webcast available on the investor.alight.com website. A replay will be available until March 8, 2023. Alight Solutions is a leader in cloud-based human capital technology, serving 36 million people globally through its Alight Worklife® platform, enhancing employee experience with personalized insights.

Alight (NYSE: ALIT) announced participation at the 25th annual Needham Growth Conference on January 11, 2023, at 9:30 a.m. EST. CEO Stephan Scholl and CFO Katie Rooney will present a fireside chat, available for live streaming here.

Alight provides cloud-based human capital technology and services, helping 36 million users make informed health and wealth decisions.

Alight, Inc. (NYSE: ALIT) has launched two new products, Alight Cancer Guidance and Alight Behavioral Health Guidance, to enhance healthcare support for employers. These tools aim to tackle inequities in access to cancer care and behavioral health services, addressing critical employee needs. Available through the Alight Worklife® platform, the offerings provide personalized resources and support, leveraging Alight's 20 years of expertise in healthcare navigation.

Alight, Inc. (NYSE: ALIT) has announced a global expansion of its proprietary employee experience platform, Alight Worklife, integrating its payroll solution. This expansion aims to simplify global payroll complexities for employers by offering a unified digital experience across over 180 countries and 25 languages. With enhanced data visibility and actionable analytics, Alight Worklife enables companies to optimize costs and make informed decisions. Alight supports over 36 million individuals and their dependents with this innovative platform.

Alight announces the acquisition of ReedGroup, a leading expert in leave management solutions, from The Guardian Life Insurance Company of America. This strategic move aims to enhance employee experiences by integrating ReedGroup’s capabilities into Alight’s Worklife platform, which serves around 36 million people globally. With operations across six continents and nearly half of the Fortune 100 companies as clients, the acquisition is expected to provide significant synergies, ultimately improving health and wellbeing support for employees during leave.

Alight, Inc. (NYSE: ALIT) announced that underwriters of its public offering exercised an option to purchase an additional 3,000,000 shares of its Class A common stock at $7.75 per share. This increases the total shares sold in the offering to 23,000,000. The offering is expected to close on or about November 17, 2022. Alight will not sell any shares or receive proceeds from this offering. The registration statement for these securities was filed with the SEC and has been effective since April 20, 2022.