Alight, Inc. reported a revenue of $2.332 billion for the fiscal year ending December 31, 2024, a decrease of 2.3% from $2.386 billion in 2023. The decline was attributed to lower volumes and project revenues, particularly impacted by the wind-down of its Hosted business operations. Despite this, the company noted a 15% increase in revenue from its cloud-based BPaaS solutions, which totaled $499 million. The company's net loss attributable to Alight, Inc. was $157 million, compared to a loss of $345 million in the previous year, indicating an improvement in financial performance.
In a significant strategic move, Alight completed the divestiture of its Payroll and Professional Services segment on July 12, 2024, for total consideration of up to $1.2 billion. This included $1 billion in cash and additional notes contingent on the financial performance of the divested business. The divestiture is part of Alight's ongoing transformation into a technology-enabled services company focused on employee wellbeing and benefits. The company has also undergone a restructuring program aimed at optimizing its operations and reducing costs, incurring approximately $136 million in related expenses.
Operationally, Alight's employee count stood at over 9,500 as of December 31, 2024, with a significant portion based in North America. The company serves a diverse client base, including Fortune 500 companies, and reported annual revenue retention rates of 95% for 2024. Alight's technology platform, Alight Worklife, continues to drive engagement, with a focus on personalized employee experiences. The company has also expanded its geographic footprint, maintaining a strong presence in the U.S. and international markets.
Looking ahead, Alight's management expressed optimism about future growth, particularly in its cloud-based solutions. The company plans to continue investing in technology and innovation to enhance its service offerings. Additionally, Alight's Board of Directors has approved a quarterly dividend program, with a recent declaration of $0.04 per share, reflecting a commitment to returning value to shareholders. However, the company remains cautious about potential economic downturns and competitive pressures that could impact its performance.
About Alight, Inc. / Delaware
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