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ALIT

Alight, Inc.

ALIT

Alight, Inc. • NYSE
$2.31 ▼ -0.86% (-0.02)
Market Cap $1.22 B
52w High $8.04
52w Low $1.89
Dividend Yield 0.12%
P/E -0.58
Volume 5.77M
Outstanding Shares 527.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $533M ▲ $1.528B ▲ $-1.067B ▲ -200.188% ▲ $2.06 ▲ $-730M ▲
Q2-2025 $528M ▼ $1.186B ▲ $-1.073B ▼ -203.22% ▼ $-2.03 ▼ $-954M ▼
Q1-2025 $548M ▼ $179M ▼ $-25M ▼ -4.562% ▼ $-0.032 ▼ $103M ▼
Q4-2024 $680M ▲ $227M ▲ $8M ▲ 1.176% ▲ $0.054 ▲ $177M ▲
Q3-2024 $555M $216M $-74M -13.333% $-0.14 $63M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $205M ▼ $5.538B ▼ $3.534B ▼ $2.002B ▼
Q2-2025 $227M ▲ $6.777B ▼ $3.656B ▼ $3.118B ▼
Q1-2025 $223M ▼ $7.913B ▼ $3.68B ▼ $4.229B ▼
Q4-2024 $343M ▲ $8.193B ▼ $3.88B ▼ $4.309B ▼
Q3-2024 $300M $8.271B $3.945B $4.322B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.055B ▲ $77M ▼ $-41M ▼ $-46M ▲ $-10M ▼ $49M ▼
Q2-2025 $-1.073B ▼ $86M ▲ $-28M ▲ $-66M ▲ $-8M ▲ $58M ▲
Q1-2025 $-17M ▼ $73M ▼ $-29M ▲ $-176M ▼ $-132M ▼ $44M ▼
Q4-2024 $29M ▲ $118M ▲ $-30M ▼ $-68M ▲ $20M ▼ $92M ▲
Q3-2024 $-44M $-24M $944M $-784M $162M $-52M

Revenue by Products

Product Q1-2023Q2-2023Q3-2023Q4-2023
Other Segments
Other Segments
 $10.00M ▲$10.00M ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Alight has built a solid revenue base over the last few years, but growth has been choppy and recently moved backward after earlier gains. Profitability is the main weak spot: operating results have slipped from small profits to modest operating losses, and net income has been negative every year. Earnings before interest, taxes, and non‑cash items remain positive, which suggests the core service model has economic value, but restructuring, interest, and other costs are weighing on the bottom line. Overall, the income statement shows a business still in transition, with scale and recurring revenue but an as‑yet unproven path to durable profitability.

Balance Sheet

Balance Sheet The balance sheet shows a sizable, asset‑heavy platform with a much stronger equity base than it had around the time of its SPAC listing. Debt levels have come down meaningfully from earlier years, which reduces financial risk, although borrowings are still significant relative to the cash balance. Cash on hand looks adequate but not abundant, so the company is not cash‑rich but also not obviously strained. In short, Alight has strengthened its capital structure and reduced leverage, but it still needs steady performance to comfortably support its obligations.

Cash Flow

Cash Flow Even while reporting accounting losses, Alight has consistently generated positive cash from operations, which is an important strength. Free cash flow has generally been positive and has improved versus the early post‑SPAC period, helped by relatively modest and stable capital spending. This indicates that the business model can produce real cash after investments, though the margin for error is not huge. Continued discipline on costs and investment should be key to maintaining and expanding this cash cushion.

Competitive Edge

Competitive Edge Alight operates in a specialized corner of enterprise software and services: large‑company employee benefits, HR, and wellbeing. Its platform is deeply embedded in clients’ HR and benefits processes, creating high switching costs and long relationships, especially with large employers. Scale, domain expertise inherited from its Aon Hewitt roots, and access to extensive workforce data give it an edge that is not easy for smaller newcomers to match. That said, it competes in a crowded field that includes big HR tech and benefits players, so maintaining its moat will depend on execution, service quality, and continued product differentiation rather than scale alone.

Innovation and R&D

Innovation and R&D The company is clearly leaning into technology and AI as core differentiators. The Alight Worklife platform and its LumenAI engine aim to deliver personalized, data‑driven guidance across health, wealth, and wellbeing, while integrations with tools like Microsoft Teams are designed to keep employees engaged where they already work. Alight is also expanding a curated partner network to broaden its offerings without rebuilding everything in‑house. The strategic pivot toward higher‑margin benefits and AI‑enabled services offers upside but also execution risk: divestitures, product upgrades, and a coming CEO transition all need to be managed smoothly for the innovation story to translate into financial improvement.

Summary

Alight combines a strong strategic position in enterprise benefits with a still‑evolving financial profile. It has sticky, large clients and a differentiated, AI‑enabled platform, but revenue momentum has softened and profitability remains weak at the net income level. The balance sheet is sturdier than in the past, with less debt and a solid equity base, and the business generates real, if modest, free cash flow. The key questions going forward are whether management can reignite consistent revenue growth, lift margins through its shift to higher‑value offerings, and execute on its AI and platform strategy while navigating organizational change. The ingredients for improvement are visible, but the financial evidence of a fully successful transformation is not yet in place.

NEWS

November 25, 2025 · 4:30 PM UTC

Alight to Present at UBS Global Technology and AI Conference

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November 24, 2025 · 8:00 AM UTC

Alight Announces CEO Transition

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November 18, 2025 · 8:02 AM UTC

Alight Earns Top 5 Rankings for User Experience and Vendor Satisfaction in 2025 Sapient HR Systems Report

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November 5, 2025 · 7:30 AM UTC

Alight Reports Third Quarter 2025 Results

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November 5, 2025 · 7:25 AM UTC

Alight to Seek Stockholder Approval for Declassification

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