Alight
Delivers benefits administration, healthcare navigation, and retirement services through a cloud-based Worklife platform.
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Profile
Provides benefits administration, healthcare navigation, financial wellbeing, and leave management for large US employers through the cloud-based Alight Worklife platform, with revenue earned mostly through recurring per-participant fees. Following a divestiture of its payroll and professional-services businesses, the company now operates as a single segment, Employer Solutions.
Provides integrated benefits administration, healthcare navigation, financial wellbeing, leave-of-absence management, and retiree healthcare for large employers through the cloud-based Alight Worklife platform. Revenue is mostly recurring, billed per participant, blending software with outsourced administrative services.
Clients are concentrated among large US employers, with coverage extending to their employees and dependents. All continuing operations sit within a single reportable segment, Employer Solutions, after the divestiture of its payroll and professional-services businesses.
The business traces to a 2017 carve-out of Aon's benefits-outsourcing division backed by Blackstone, later combined with a special-purpose acquisition company to list on the New York Stock Exchange in 2021 — a lineage that left it with large, long-tenured enterprise contracts. Contract retention among that concentrated client base shapes near-term revenue, and the scope of services administered is set by US health, retirement, and leave regulation.
Company facts
Key statistics
Year to date −62.6% · Average volume (30d) 551.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 2, 2026 | DA Davidson | Reiterate | Buy | $2 | $40 | |
| Jun 22, 2026 | DA Davidson | Reiterate | Buy | $5 | $2 | |
| Feb 20, 2026 | Citigroup | Downgrade | Buy | Neutral | ||
| Feb 19, 2026 | Needham | Downgrade | Buy | Hold | ||
| Feb 19, 2026 | KeyBanc | Downgrade | Overweight | Sector Weight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.76 | $0.91 | +20.2% | $497.0M | $511.0M | +2.8% | −16.01% |
| May 5, 2026Q1 FY26 | $0.84 | $1.20 | +43.0% | $502.7M | $534.0M | +6.2% | +7.34% |
| Feb 19, 2026Q4 FY25 | $0.24 | $0.18 | −25.0% | $655.0M | $653.0M | −0.3% | −6.86% |
| Nov 5, 2025Q3 FY25 | $0.13 | $0.12 | −7.7% | $535.6M | $533.0M | −0.5% | −4.78% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $548.0M | $528.0M | $533.0M | $653.0M | $534.0M | $511.0M | |
| Gross profit | $171.0M | $176.0M | $206.0M | −$84.0M | $156.0M | $142.0M | |
| Operating income | −$8.0M | −$1.01B | −$1.32B | $2.37B | −$22.0M | −$40.0M | |
| Net income | −$25.0M | −$1.07B | −$1.07B | −$932.0M | −$19.0M | −$10.0M | |
| Diluted EPS | −$0.64 | −$40.60 | −$40.40 | −$35.60 | −$0.80 | −$0.38 | |
| Gross margin | 31.2% | 33.3% | 38.6% | -12.9% | 29.2% | 27.8% | |
| Operating margin | -1.5% | -191.3% | -248.0% | 363.6% | -4.1% | -7.8% |
Fiscal years (4-quarter sums)FY21 $2.92B · FY22 $3.13B · FY23 $2.92B · FY24 $2.33B · FY25 $2.26B
Revenue by geography · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $215.0M · Total debt $2.06B · Total assets $4.27B · Shareholders' equity $1.02B
Dividends
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.04 | |
| Sep 2, 2025 | Sep 2 | Sep 15 | $0.04 | |
| Jun 2, 2025 | Jun 2 | Jun 16 | $0.04 | |
| Mar 3, 2025 | Mar 3 | Mar 17 | $0.04 | |
| Dec 2, 2024 | Dec 2 | Dec 16 | $0.04 |
Ownership
Shares outstanding 26.34M · Float 22.18M · 84.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| D. E. Shaw & Co., L.P. | 1.37M | 5.20% | 13G | Jul 9, 2026 |
| Richard N. Massey · director | 101.0K | 0.38% | Form 4 | Jul 7, 2026 |
| William P. Ii Foley · director | 64.7K | 0.25% | Form 4 | Jul 7, 2026 |
| Donna Dorsey · officer: Chief Human Resources Officer | 47.5K | 0.18% | Form 4 | Aug 18, 2026 |
| Russell P. Fradin · director | 39.8K | 0.15% | Form 4 | Jul 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 15, 2025 | Kausik Rajgopal | director | +38 | $20.53 |
| Mar 16, 2026 | Robert A. Jr. Lopes | director | +30,000 | $0.8200 |
| Mar 12, 2026 | Rohit Verma | director, officer: Chief Executive Officer | +112,000 | $0.8900 |
| Feb 24, 2026 | Rohit Verma | director, officer: Chief Executive Officer | +100,000 | $0.7704 |
| Dec 2, 2025 | Coretha M. Rushing | director | +1,018 | $2.25 |
Peers
- ADP
Enterprise HR outsourcing rival with deep benefits-administration overlap
- Workday
Cloud HCM software rival for benefits enrollment and financial wellbeing
- Marsh McLennan
Mercer's retirement outsourcing and benefits consulting for large employers
- Willis Towers Watson
Large-enterprise benefits consulting and administration rival
- HealthEquity
HSA administration and consumer-directed benefits rival at scale
- WEX
Benefits segment competes on COBRA, commuter and HSA card administration
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Alight | $14.02 | −0.28% | $369.3M | — | 3.1 | 0.2 | −3.2% |
| ADP | $286.34 | −0.36% | $114.92B | 26.3 | 23.4 | 5.2 | +6.8% |
| Workday | $204.25 | −0.23% | $53.62B | 41.8 | 17.7 | 5.3 | +13.2% |
| Marsh McLennan | $185.69 | −3.61% | $91.93B | 23.6 | 17.6 | 3.3 | +6.2% |
| Willis Towers Watson | $342.03 | −0.49% | $31.92B | 21.1 | 16.4 | 3.2 | +9.1% |
| HealthEquity | $96.98 | +0.64% | $8.06B | 34.8 | 19.1 | 5.9 | +7.6% |
| WEX | $197.32 | −0.03% | $6.72B | 19.7 | 9.7 | 2.4 | +14.2% |
| Median | 24.9 | 17.6 | 4.3 | +8.4% |