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Alight (ALIT) investor relations material
Alight Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 revenue was $533 million, down 4% year-over-year, with recurring revenue representing 91.7% of total revenue and key client wins including MetLife, Cintas, and Mass General Brigham.
Net loss from continuing operations was $1,055 million, primarily due to a $1,338 million non-cash goodwill impairment charge.
Adjusted EBITDA improved to $138 million (25.9% margin), up from $118 million in Q3 2024, with a 460 basis point margin expansion.
Free cash flow for the nine months ended September 30, 2025, was $151 million, a significant improvement from negative $20 million in the prior year.
Share repurchases totaled $25 million and a $0.04 per share dividend was declared and paid.
Financial highlights
Q3 2025 revenue was $533 million (down 4% year-over-year); recurring revenue was $489 million (down 3%); project revenue was $44 million.
Adjusted gross profit was $206 million (38.6% margin), up from $200 million (36.0% margin) in Q3 2024.
Adjusted net income from continuing operations for Q3 2025 was $62 million; adjusted diluted EPS was $0.12.
Cash and cash equivalents at quarter-end were $205 million; total debt was $2,010 million.
Free cash flow for the nine months ended September 30, 2025, was $151 million.
Outlook and guidance
Full-year 2025 revenue guidance is $2,252 million to $2,282 million, with adjusted EBITDA expected at $595–$620 million and adjusted EPS at $0.54–$0.58.
Free cash flow for 2025 is projected at $225–$250 million.
Revenue under contract for 2025 is $2.25 billion, with $1.8 billion for 2026 and $1.3 billion for 2027.
Annual savings of over $75 million anticipated after completion of the Post-Separation Plan restructuring.
Lower than expected bookings and higher contract renewal losses in 2025 are expected to impact revenue growth in Q4 2025 and fiscal 2026.
Goodwill impairment drivers and future impact?
Drivers of margin improvement despite revenue drop?
New client wins vs. overall revenue decline?
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Frequently asked questions
Alight Inc. is a provider of cloud-based human capital and business solutions, specializing in benefits administration, payroll, and workforce management. The company offers digital platforms and analytics-driven services to help organizations manage employee benefits, health plans, and financial well-being programs. Alight serves businesses across various industries, including healthcare, finance, and retail. Alight Inc. is headquartered in Lincolnshire, Illinois, and its shares are listed on the NYSE.
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