olivLaw · US equity research
Alight, Inc. ALIT
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
Alight is a technology-enabled services company that administers employee benefits, health, wealth and leave solutions for large organizations through its Alight Worklife platform. The company is in an operational transformation, with falling revenue and a plan for profitable growth built on artificial intelligence, so its progress in the coming period is worth following closely.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Alight, Inc. (ALIT) stock was 12.75 USD (+25.99% on the day), with market capitalisation 5.7 bn USD, dividend yield 0.39%, beta 1.31, 52-week range 7.95–50.20 USD. Latest reported quarter (Q3 2026): revenue of 500.0 m USD (−6.2% YoY), net income of -51.0 m USD, diluted EPS -1.93 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 68.2
- strong (55–70)
- Bollinger (20, 2)
- 7.47 – 11.19
- above the upper band · %B 1.42 · band width 39.8%
- SMA 50 / 200
- 10.90 / 15.71
- mixed trend
- MACD (12, 26, 9)
- -0.06 / -0.51
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +45.9% | −2.0% | +47.9 pp | — |
| 3 months | −11.6% | −2.2% | −9.5 pp | — |
| 6 months | −31.9% | +4.3% | −36.2 pp | — |
| Year to date | −67.3% | +10.6% | −77.9 pp | — |
| 1 year | −76.4% | +10.5% | −86.9 pp | −5.1% |
| 3 years | −91.2% | +73.7% | −164.8 pp | +1.0% |
| 5 years | −94.3% | +61.7% | −156.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 680.0 m | 548.0 m | 528.0 m | 533.0 m | 653.0 m | 534.0 m | 511.0 m | 500.0 m |
| Cost of revenue | 383.0 m | 351.0 m | 325.0 m | 327.0 m | 383.0 m | 347.0 m | 337.0 m | 334.0 m |
| Gross profit | 271.0 m | 171.0 m | 176.0 m | 178.0 m | 240.0 m | 156.0 m | 142.0 m | 135.0 m |
| SG&A | 151.0 m | 104.0 m | 130.0 m | 87.0 m | 114.0 m | 105.0 m | 109.0 m | 122.0 m |
| Operating income | 44.0 m | -8.0 m | -1.0 bn | -1.3 bn | -750.0 m | -22.0 m | -40.0 m | -61.0 m |
| Depreciation & amortisation | 76.0 m | 75.0 m | 73.0 m | 75.0 m | 73.0 m | 73.0 m | 73.0 m | 74.0 m |
| Interest expense | 20.0 m | 22.0 m | 22.0 m | 24.0 m | 24.0 m | 24.0 m | 24.0 m | 25.0 m |
| Pre-tax income | 55.0 m | -20.0 m | -1.1 bn | -1.3 bn | -713.0 m | -26.0 m | -19.0 m | -70.0 m |
| Income tax | 26.0 m | -3.0 m | -3.0 m | -198.0 m | 220.0 m | -7.0 m | -9.0 m | -19.0 m |
| Net income | 8.0 m | -25.0 m | -1.1 bn | -1.1 bn | -932.0 m | -19.0 m | -10.0 m | -51.0 m |
| Diluted EPS | 0.02 ≈ | -0.05 | -40.61 | -40.52 | -0.46 ≈ | -0.04 | -0.38 | -1.93 |
| Operating cash flow | 118.0 m | 73.0 m | 86.0 m ≈ | 77.0 m ≈ | 124.0 m | 79.0 m | 73.0 m ≈ | 29.0 m ≈ |
| Capex | 26.0 m | 29.0 m | 28.0 m ≈ | 28.0 m ≈ | 25.0 m | 26.0 m | 25.0 m ≈ | 22.0 m ≈ |
| Dividends paid | 21.0 m | 21.0 m | 22.0 m ≈ | 22.0 m ≈ | 21.0 m | 0 | 1.0 m ≈ | 0 ≈ |
| Share repurchases | 12.0 m | 20.0 m | 20.0 m ≈ | 25.0 m ≈ | 0 | 0 | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 2.6 bn | 2.7 bn | unavailable | 2.2 bn | 2.4 bn | 2.3 bn | 2.3 bn |
| Revenue YoY | unavailable | +6.9% | unavailable | unavailable | +8.1% | −2.3% | −3.0% |
| Net income | unavailable | unavailable | -35.0 m | -62.0 m | -345.0 m | -157.0 m | -3.1 bn |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | -0.08 | -0.14 | -0.70 | -0.29 | -5.87 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable | -2.8% | -14.5% | -6.7% | -136.9% |
| Free cash flow | unavailable | unavailable | unavailable | 155.0 m | 246.0 m | 131.0 m | 250.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 273.0 m USD
- Financial debt
- 2.0 bn USD
- Net debt
- 1.7 bn USD
- Equity
- 1.0 bn USD
- Total assets
- 4.6 bn USD
- Debt / equity
- 1.92x
- Current ratio
- 1.31x
- ROE
- -115.6%
- ROA
- -48.5%
- FCF margin
- 11.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.7 bn | — | 2.2 bn | 2.4 bn | 2.3 bn | 2.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Cost of revenue | — | — | 1.5 bn | 1.5 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
| Gross profit | — | — | 686.0 m | 810.0 m | 794.0 m | 765.0 m | SEC (XBRL)· 24 Feb 2026verified |
| SG&A | — | — | 479.0 m | 590.0 m | 585.0 m | 435.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | 147.0 m | — | -94.0 m | -81.0 m | -90.0 m | -3.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | — | — | 301.0 m | 301.0 m | 299.0 m | 296.0 m | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | — | — | 207.0 m ≈ | 220.0 m ≈ | 209.0 m ≈ | -2.8 bn ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Interest expense | 234.0 m | — | 122.0 m | 131.0 m | 103.0 m | 92.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | -94.0 m | — | -124.0 m | -337.0 m | -148.0 m | -3.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | 9.0 m | — | 16.0 m | -20.0 m | -8.0 m | 16.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | — | -35.0 m | -62.0 m | -345.0 m | -157.0 m | -3.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | — | -0.08 | -0.14 | -0.70 | -0.29 | -5.87 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | — | — | 458.6 m | 489.5 m | 540.4 m | 527.6 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 506.0 m | 372.0 m | 228.0 m | 324.0 m | 343.0 m | 273.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 532.0 m | 515.0 m | 678.0 m | 435.0 m | 471.0 m | 387.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 2.2 bn | 2.5 bn | 2.8 bn | 2.8 bn | 1.3 bn | 1.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 334.0 m | 236.0 m | 320.0 m | 331.0 m | — | — | SEC (XBRL)· 08 May 2024verified |
| Goodwill | 2.2 bn | 3.6 bn | 3.7 bn | 3.2 bn | 3.2 bn | 83.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.7 bn | 4.2 bn | 3.9 bn | 3.1 bn | 2.9 bn | 2.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 7.0 bn | 11.0 bn | 11.2 bn | 10.8 bn | 8.2 bn | 4.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 394.0 m | 406.0 m | 508.0 m | 325.0 m | 355.0 m | 253.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Short-term debt | 37.0 m | 38.0 m | 31.0 m | 25.0 m | 25.0 m | 20.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | 4.0 bn | 2.8 bn | 2.8 bn | 2.8 bn | 2.0 bn | 2.0 bn | SEC (XBRL)· 24 Feb 2026verified |
| Current liabilities | 1.8 bn | 2.1 bn | 2.3 bn | 2.2 bn | 892.0 m | 874.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 6.3 bn | 6.1 bn | 6.1 bn | 6.0 bn | 3.9 bn | 3.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 683.0 m | 4.9 bn | 5.1 bn | 4.7 bn | 4.3 bn | 1.0 bn | SEC (XBRL)· 24 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | 286.0 m | 386.0 m | 252.0 m | 360.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Capex | — | — | 131.0 m | 140.0 m | 121.0 m | 110.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Free cash flow | — | — | 155.0 m ≈ | 246.0 m ≈ | 131.0 m ≈ | 250.0 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Investing cash flow | — | — | -235.0 m | -159.0 m | 836.0 m | -123.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | — | — | 54.0 m | -231.0 m | -1.1 bn | -298.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Dividends paid | — | — | 0 | 0 | 21.0 m | 86.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | — | — | 12.0 m | 40.0 m | 167.0 m | 65.0 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 5.7 bn USD
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 5.01 – 10.91 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)5.01 – 10.91 (Mid 7.19)WACC 8.2% · starting FCFF 288.5 m USD · terminal value share of EV 76%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 19.1%
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -22.3% | 9 (vs peers) | 19% |
| Net margin · Quality | -46.0% | 13 (vs peers) | 12% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 0.8% | 7 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -9.0x | 0 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 1.4x | 51 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.6% | 45 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 0.4% | 6 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 10.6% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet21/100 · 2/3 factors with a value
- Growth· partial7/100 · 1/2 factors with a value
- Quality10/100 · 2/3 factors with a value
- Returns43/100 · 2/2 factors with a value
- Valuation· partial45/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Alight, Inc. / Delaware (ALIT). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 2.3 bn USD in 2025; YoY growth -3.0%; net margin -46.0%; ROE -67.9%.
The estimated value range is 5.01–10.91 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 7.19 USD, the price of 12.75 USD leaves a potential of -43.6% (value / price − 1) and a margin of safety of -77.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Payout ratio (FCF): 10.6%
What contradicts it
- ROIC: -22.3%
- Net margin: -46.0%
- Revenue CAGR 3Y: 0.8%
- Interest coverage: -9.0x
- Shareholder yield (distributions): 0.4%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA.
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BABAAlibaba Group Holding Ltd | 195.6 bn | 131.6 | 10.3% | 10.1% | +8.1% | −33% / +41% |
| UBERUber Technologies, Inc | 136.0 bn | 14.6 | 38.4% | 17.3% | +18.3% | −24% / +18% |
| MELIMercadoLibre, Inc. | 84.3 bn | 45.2 | 27.5% | 5.3% | +39.1% | −20% / +3% |
| EBAYeBay Inc. | 52.1 bn | 25.8 | 46.6% | 16.9% | +7.9% | +43% / +189% |
| PYPLPayPal Holdings, Inc. | 48.4 bn | 11.1 | 23.8% | 13.8% | +4.3% | −7% / +1% |
| MSCIMsci Inc. | 45.7 bn | 33.9 | — | 40.3% | +9.7% | +13% / +23% |
| FISVFiserv, Inc. | 31.1 bn | 11.2 | 10.7% | 13.4% | +3.6% | −5% / −55% |
| CPAYCorpay, Inc | 26.7 bn | 24.7 | 30.5% | 22.7% | +13.9% | +37% / +69% |
| GPNGlobal Payments Inc. | 25.9 bn | — | -4.1% | -9.1% | −0.4% | +29% / −16% |
| BRBroadridge Financial Solutions, Inc. | 20.8 bn | 20.3 | 40.2% | 13.9% | +8.5% | −19% / −5% |
| FISFidelity National Information Services, Inc. | 20.1 bn | 6.0 | 22.3% | 27.6% | +5.4% | −41% / −34% |
| RBARB Global, Inc | 17.3 bn | 39.1 | 8.8% | 10.0% | +7.2% | −5% / +46% |
| FICOFair Isaac Corp | 15.6 bn | 20.9 | — | 34.1% | +15.9% | −60% / −33% |
| CSGPCoStar Group, Inc. | 13.1 bn | 74.3 | 2.2% | 4.9% | +18.7% | −53% / −61% |
| HQYHealthequity, Inc. | 9.0 bn | 39.4 | 11.4% | 17.4% | +9.5% | +3% / +62% |
| WEXWEX Inc. | 5.9 bn | 15.5 | 35.6% | 14.0% | +1.2% | +21% / +2% |
| ALITAlight, Inc. | 5.7 bn | — | -67.9% | -46.0% | −3.0% | −76% / −91% |
| XMTRXometry, Inc. | 5.2 bn | — | -3.9% | -2.0% | +25.9% | +94% / +364% |
| TNETTrinet Group, Inc. | 3.1 bn | 18.1 | 141.6% | 3.6% | −0.9% | +14% / −42% |
| CBZCBIZ, Inc. | 3.0 bn | 25.8 | 6.8% | 4.6% | +52.1% | −0% / +6% |
| FLYWFlywire Corporation | 2.7 bn | 83.8 | 4.2% | 4.8% | +26.6% | +56% / −6% |
| AHGAkso Health Group | 2.2 bn | 133.0 | -9.8% | -135.0% | −6.4% | −11% / +56% |
| PAYSPaysign, Inc. | 863.9 m | 58.4 | 30.8% | 15.7% | +40.5% | +194% / +551% |
| PHRPhreesia, Inc. | 818.1 m | 77.1 | 3.1% | 2.1% | +14.5% | −36% / −14% |
| CASSCass Information Systems, Inc. | 704.7 m | 19.8 | 15.1% | 18.5% | +5.3% | +31% / +33% |
1- and 3-year price returns: for ALIT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
In brief
Alight is a technology-enabled services company that administers employee benefits, health, wealth and leave solutions for large organizations through its Alight Worklife platform. The company is in an operational transformation, with falling revenue and a plan for profitable growth built on artificial intelligence, so its progress in the coming period is worth following closely 123.
SWOT
Strengths
- Largely recurring revenue, long contracts and an integrated platform connected to hundreds of external partners 13.
- Strong cash generation and liquidity that management describes as strong even during the transformation 3.
- A diversified client base of large and mid-sized organizations across several sectors 1.
Weaknesses
Opportunities
Risks
- Revenue declinehigh
Weak net commercial activity and renewal losses could continue to weigh on revenue 13.
- Indebtednesshigh
High total debt could limit financial options if performance does not improve 3.
- Transformation executionmedium
If the operational transformation is not completed on time, the expected benefits could be delayed or not materialize 1.
- Artificial intelligence risksmedium
Use of AI in benefits could lead to legal claims or reputational damage 1.
- Technology disruptionslow
Problems at data center or cloud providers could disrupt services for clients 1.
Investment thesis
What would need to be true (bull case)
- If client retention improves and recurring revenue stays stable, the company could return to steady growth 13.
- Strong cash generation could support debt reduction and platform investment 3.
- The Alight Worklife platform, integrated with many partners, could become a competitive advantage if adoption grows 1.
What to watch
- Revenue and outlook for the third quarterQ3 2026
- Trend in net commercial activity and client retention2026
- Appointment of a permanent chief financial officer2026
- Full-year 2026 guidance and annual resultsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
The business
Alight provides human capital management solutions to some of the largest and most complex organizations in the world, including the implementation and administration of employee benefits such as health, wealth and leaves 1. Solutions are used year-round, digitally, including through the cloud-based Alight Worklife platform 1. The company says it wants to be the pre-eminent employee experience partner, using data, analytics and AI to produce measurable outcomes 1.
Revenue is largely recurring: fees are charged per participant, typically monthly or annually, under contracts of three to five years with renewal options 1. Revenue tends to be higher in the second half of the year because of the timing of annual benefits enrollment 1. In July 2024 Alight sold its Professional Services division and Payroll and HCM Outsourcing business, receiving 1.0 billion dollars in cash plus contingent notes 1.
A 1-for-20 reverse stock split took effect on June 30, 2026, and the shares began trading on a split-adjusted basis on the NYSE under the symbol ALIT 2. For the second quarter of 2026 the company reported revenue of 511 million dollars and kept its full-year 2026 revenue outlook at 2078 to 2098 million dollars 3.
Segments
Employer Solutions
Alight reports a single segment, Employer Solutions, which covers integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management and retiree healthcare 1. The segment is driven by the Alight Worklife platform and a full-service customer care center 1.
Market context
The market for employee benefits solutions is competitive, rapidly evolving and fragmented, with global and national competitors 1. Demand depends on the business activity of clients and on the number of participants in their benefit plans 1.
Clients include Fortune 500 companies, public institutions and mid-market businesses, and the company says its client base is well diversified across sectors 1. In the near term, revenue pressure is visible, and the 2026 outlook points to a revenue base of about 2 billion dollars 3.
Trends
- Artificial intelligence in benefitsmixed
Alight is building generative AI into search, chat and document processing, which could improve user experience and client retention 13. Legal and reputational risks of using these technologies remain high 1.
- Operational transformationmixed
The company has insourced critical client service functions that had been outsourced, and management says its modernization investments are gaining early traction 3. If these changes are executed without disruption, they could support client retention 3.
- Weaker new businessheadwind
Revenue fell because of lower net commercial activity and larger losses at contract renewals in 2025, and these effects could continue into 2026 13.
- Economic pressure on clientsheadwind
A slowdown in economic activity or tighter client budgets could reduce the number of participants and revenue 1.
Competitive position
The company says no single competitor matches its full range of solutions, so competitors vary by product 1. Competition centres on product quality, technology, ease of use, data protection and price 1. Larger competitors may invest faster in technology or price more aggressively 1.
Named primary competitors include ADP, Conduent, Empower, Fidelity, HealthEquity, Included Health, Transcarent, Voya and WTW 1. Competition could put pressure on prices and make client retention harder 1.
- ADPADP
Large provider of human resources and payroll solutions, named as a primary competitor of Alight 1.
- ConduentCNDT
Provider of benefits administration and business process outsourcing services, named as a competitor 1.
- Fidelity
Provider of savings and retirement benefits, named as a competitor in the benefits financial area 1.
- WTWWTW
Benefits and human resources consulting firm, named as a competitor 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- 'Very upsetting': Residents in shock after historic French town hall set alightBBC — Europe · 18 Oct 2026 · EN
- Sydney hospital patient charged with attempted murder after allegedly setting fellow patient alightThe Guardian World · 14 Oct 2026 · EN
- Anti-migrant display set alight in Northern Ireland bonfireAl Jazeera English · 12 Jul 2026 · EN
- Knicks fans set bus alight during celebrationsAl Jazeera English · 14 Jun 2026 · EN
The latest news item in our archive is from 18 Oct 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report14 Oct 2026Regulation FD disclosure
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Departure or appointment of officers · Financial statements and exhibits
- Current report01 Jul 2026Material agreement · Item 3.03 · Amendments to articles or bylaws · Other events · Financial statements and exhibits
- Current report18 Jun 2026Other events · Financial statements and exhibits
- Current report11 Jun 2026Shareholder vote
- Current report04 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Alight, Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Alight, Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Alight, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.