Alight Inc Stock Price, News & Analysis

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.

Alight (NYSE: ALIT) will release its third quarter 2021 earnings results before the market opens on November 9, 2021. A conference call with management will follow at 8:30 am ET on the same day. This event aims to update stakeholders on the company's financial performance. Investors can access the webcast and financial presentation on the company's investor relations website. The earnings call will be available for replay until November 23, 2021.

Alight (NYSE: ALIT) announced that CEO Stephan Scholl and CFO Katie Rooney will participate in the D.A. Davidson Annual Software and Internet Conference on Thursday, September 9, 2021, at 9:30 a.m. EST. A live webcast of their fireside chat will be available here. Alight, a leading cloud-based provider, employs 15,000 team members and serves over 30 million individuals, focusing on integrated human capital and business solutions.

Alight Solutions has signed a definitive agreement to acquire ConsumerMedical, a recognized leader in clinical advocacy and expert medical opinions. This acquisition aims to enhance Alight's healthcare offerings and assist employers in creating a healthier workforce. With 25 years of experience, ConsumerMedical helps employees make informed medical decisions using AI-driven predictive tools. The transition is expected to close in Q3, pending customary conditions. This merger will enable a comprehensive healthcare navigation solution and better health outcomes for Alight's 30 million users.

Alight (NYSE: ALIT) reported a 3.9% increase in total revenue to $672 million for Q2 2021, driven by growth in Employer Solutions and Professional Services. Business Process as a Service (BPaaS) revenue surged 19.0% to $94 million, representing 14.0% of total revenue. Operating income rose 211.1% to $56 million, with net loss decreasing from $25 million to $4 million. Total bookings increased 13.9% to $435 million, while BPaaS bookings soared 287.1% to $240 million. Following a successful business combination with Foley Trasimene, Alight anticipates raising its 2021 revenue outlook to $2.81 billion-$2.86 billion.

Alight (NYSE: ALIT) will announce its second quarter 2021 earnings results before the market opens on August 12, 2021. A conference call for management to discuss the results will take place at 8:30 am ET on the same day. Investors can access the webcast and financial presentation at investor.alight.com. A replay of the call will be available until August 26, 2021. Alight provides integrated digital human capital and business solutions, serving over 30 million employees and their families, with a focus on optimizing business processes through AI and data analytics.

Alight Solutions and Foley Trasimene Acquisition Corp. have finalized their business combination, approved by Foley Trasimene stockholders on June 30, 2021, and closed on July 2, 2021. Alight's Class A common stock and warrants will now trade on the NYSE under the symbols ALIT and ALITW. CEO Stephan Scholl emphasizes a focus on employee engagement, particularly in the wake of the pandemic and global talent shortages. Alight serves over 36 million employees, with a robust portfolio across health, wealth, and global payroll services.