Alight Inc Stock Price, News & Analysis

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.

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.