Alight Inc - ALIT STOCK NEWS

Alight (NYSE: ALIT) announced that CEO Stephan Scholl and CFO Katie Rooney will participate in a fireside chat at the Morgan Stanley Technology, Media and Telecom Conference on March 7, 2022, at 2:25 PM PST. The Company will also engage in one-on-one meetings with investors. A live webcast of the event will be available on the Investor Relations section of the Company's website, with a replay accessible until September 3, 2022. Alight specializes in integrated digital human capital solutions, serving over 30 million employees globally.

Alight (NYSE: ALIT) reported a 6.9% revenue growth for 2021, exceeding the initial 1% forecast. Their Business Process as a Service (BPaaS) bookings surged 52.4% to $602 million, surpassing the original goal of $395 million. Full-year BPaaS revenue grew 16.8% to $390 million. Alight projects a 2022 revenue outlook of $3.09 to $3.12 billion (a 6% to 7% increase) and EBITDA of $650 to $662 million, ahead of prior estimates. The company also improved its gross profit margin to 33.2% and reduced net loss significantly from $(103) million to $(73) million.

Alight (NYSE: ALIT) will release its fourth quarter 2021 earnings results before market open on February 23, 2022. A conference call will follow at 8:00 am ET the same day, with a webcast available online. The company offers integrated digital human capital and business solutions, serving over 30 million employees across various industries, including more than 70% of the Fortune 100. Investors can access the presentation at investor.alight.com.

Alight Solutions (NYSE: ALIT) is enhancing its healthcare navigation solution to improve employee benefits experiences. The updated offering integrates personalized support, analytics, and a robust data engine, fostering smarter health decisions. This solution is powered by a multi-disciplinary team and AI-based tools, simplifying healthcare engagement for employees.

Additionally, Bipin Mistry has been appointed as Chief Medical Officer to lead clinical guidance initiatives. Alight serves over 30 million individuals and partners with major organizations, aiming to drive substantial health outcomes.

Alight (NYSE: ALIT) announced that CEO Stephan Scholl and CFO Katie Rooney will present at the Cannae Holdings Portfolio Conference on December 8, 2021, at 11:00 AM PST. The Company will also engage in one-on-one and group meetings with investors during the conference on December 8 and 9. A live webcast of the event will be available on the Company’s website, with a replay accessible until March 8, 2022. Alight is a leading provider of digital human capital solutions, serving over 30 million employees and their families, and partnering with more than 70% of the Fortune 100.

Alight (NYSE: ALIT) announced the redemption of 15,133,333 Class C Units at a price of $0.10 per Unit, effective 5:00 p.m. New York City time on December 27, 2021. This follows a previous redemption of 44,499,941 Public Warrants on November 26, 2021. The Units can be exchanged for cash or Class A Common Stock, priced at $11.50 per Unit. Alight has met the performance target necessary for this redemption, with a Reference Value exceeding $10.00 per share. The remaining unexchanged Units post-Redemption Date will be void.

Alight (NYSE: ALIT) announced the redemption of all outstanding warrants to purchase shares of its Class A common stock for a price of $0.10 per warrant, with a redemption deadline set for December 27, 2021, at 5:00 p.m. New York City time. This redemption applies if the Reference Value reaches or exceeds $10.00 per share, which has been achieved. Holders can exercise warrants for cash or cashless options. Unexercised warrants will be void after the deadline. The last trading day for the warrants is December 23, 2021.

According to Alight Solutions’ report, cloud-based payroll systems have surpassed traditional on-premise systems, claiming 61% of the market. This shift indicates a strong movement towards payroll modernization, with 26% of companies accelerating their digital payroll initiatives recently. Key drivers include regulatory risks (42%) and corporate strategies (39%). However, challenges persist, particularly with payroll accuracy, where 27% of breaches since 2019 stemmed from human error. Without addressing basic payroll errors, companies risk significant financial losses.

Alight (NYSE: ALIT) reported third-quarter 2021 revenue of $690 million, reflecting a 3.3% increase year-over-year, driven by a 5% growth in Employer Solutions. The company's BPaaS revenue soared 20%, bolstered by new customer acquisitions. Adjusted EBITDA rose 15.9% to $153 million. Despite a $120 million net loss attributed to merger-related expenses, Alight raised its full-year outlook for revenue to 5% to 6% growth. The acquisition of ConsumerMedical and Aon's Retiree Health Exchange enhances its service offerings.