– Company expects platform transformation to
continue driving strong financial performance –
Alight (NYSE: ALIT or the “Company”), a leading cloud-based
human capital technology and services provider, today hosted an
investor day at the New York Stock Exchange. During the event,
Alight executives presented on the Company’s platform strategy and
shared mid-term financial targets. Alight clients discussed how
they work with the Company to care for the wellbeing of their
employees to keep them financially secure and healthy.
“As the industry’s premiere integrated employee experience
platform, Alight is defining the future of employee wellbeing
through the power of Alight Worklife®. During our Investor Day, we
showcased how we are radically changing the way employees engage
with their benefits and wellbeing programs by creating a
differentiated and personalized experience that directly impacts
costs for the individual and employer,” said Stephan Scholl, CEO of
Alight. “We believe we are well-positioned to continue executing on
our go-to market strategy and driving shareholder value
creation.”
Mid-Term Business Outlook
- Annual BPaaS revenue growth of 15%+
- Annual total revenue growth of 6-8%
- Employer Solutions adjusted gross margin increase of 300-400
bps
- Adjusted EBITDA margin increase of 400-500 bps
- Operating cash flow conversion of 60-80%
Because GAAP financial measures on a forward-looking basis are
not accessible, and reconciling information is not available
without unreasonable effort, we have not provided reconciliations
for forward-looking non-GAAP measures. For the same reasons, we are
unable to address the probable significance of the unavailable
information, which could be material to future results.
A video replay of today's Investor Day and downloadable copies
of the slide presentation can be found at
https://investor.alight.com/events-and-presentations/investor-day/default.aspx
About Alight Solutions
Alight is a leading cloud-based human capital technology and
services provider that powers confident health, wealth, and
wellbeing decisions for 36 million people and dependents. Our
Alight Worklife® platform combines data and analytics with a
simple, seamless user experience. Supported by our global delivery
capabilities, Alight Worklife is transforming the employee
experience for people around the world. With personalized,
data-driven health, wealth, pay and wellbeing insights, Alight
brings people the security of better outcomes and peace of mind
throughout life’s big moments and most important decisions. Learn
how Alight unlocks growth for organizations of all sizes at
alight.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements include, but are not limited to,
statements related to the expectations regarding the performance
and outlook for Alight’s business, financial results, liquidity and
capital resources, and other non-historical statements, including
statements in the “Mid-Term Business Outlook” section of this press
release. In some cases, these forward-looking statements can be
identified by the use of words such as “outlook,” “believes,”
“expects,” “potential,” “continues,” “may,” “will,” “should,”
“could,” “seeks,” “projects,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates,” “appears,” “approximates,” “foresees,”
“might,” “possible,” “would” or the negative version of these words
or other comparable words. Such forward-looking statements are
subject to various risks and uncertainties including, among others,
risks related to declines in economic activity in the industries,
markets, and regions our clients serve, including as a result of
increases in inflation rates or interest rates or changes in
monetary and fiscal policies, bank failures, risks related to the
performance of our information technology systems and networks,
risks related to our ability to maintain the security and privacy
of confidential and proprietary information, risks related to
changes in regulation, and, competition in our industry. Additional
factors that could cause Alight’s results to differ materially from
those described in the forward-looking statements can be found
under the section entitled “Risk Factors” of Alight’s Annual Report
on Form 10-K, filed with the Securities and Exchange Commission
(the "SEC") on March 1, 2023, as such factors may be updated from
time to time in Alight's filings with the SEC, which are, or will
be, accessible on the SEC's website at www.sec.gov. Accordingly,
there are or will be important factors that could cause actual
outcomes or results to differ materially from those indicated in
these statements. These factors should not be construed as
exhaustive and should be considered along with other factors noted
in this presentation and in Alight’s filings with the SEC. Alight
undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law.
Non-GAAP Financial Measures
The presentation of non-GAAP financial measures herein is used
to enhance our investors’ and lenders’ understanding of certain
aspects of our financial performance. This discussion is not meant
to be considered in isolation, superior to, or as a substitute for
the directly comparable financial measures prepared in accordance
with GAAP.
Adjusted EBITDA, which is defined as earnings before interest,
taxes, depreciation and intangible amortization adjusted for the
impact of certain non-cash and other items that we do not consider
in the evaluation of ongoing operational performance, is a non-GAAP
financial measure used by management and our stakeholders to
provide useful supplemental information that enables a better
comparison of our performance across periods. Both Adjusted EBITDA
and Adjusted EBITDA less Capital Expenditures are non-GAAP measures
that are used by management and stakeholders to evaluate our core
operating performance.
Operating Cash Flow Conversion is defined as cash provided by
operating activities divided by Adjusted EBITDA. Operating Cash
Flow Conversion is used by management and stakeholders to evaluate
our core operating performance.
Adjusted gross profit is defined as revenue less cost of
services adjusted for depreciation, amortization and share-based
compensation. Adjusted gross profit margin percent is defined as
adjusted gross profit divided by revenue. Management uses adjusted
gross profit and adjusted gross profit margin percent as key
measures in making financial, operating and planning decisions and
in evaluating our performance. We believe that presenting adjusted
gross profit and adjusted gross profit margin percent is useful to
investors as it eliminates the impact of certain non-cash expenses
and allows a direct comparison between periods.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230515005538/en/
Investor: Jeremy Cohen Investor.Relations@alight.com
Media: MacKenzie Lucas Mackenzie.Lucas@alight.com
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