Alight, Inc. · NYSE:ALIT
Alight — Q3 2026 Earnings Presentation
23 slides from Alight's earnings presentation, Nov 3, 2026
Slide 1: 3rd Quarter 2026 Earnings Presentation
3rd Quarter 2026 Earnings Presentation Alight, Inc. November 3, 2026 1
Slide 2: Disclaimer
Disclaimer Forward-looking statements This presentation 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 re
Slide 3: Strategic update
3RD QUARTER 2026 EARNINGS Strategic update Rohit Verma Chief Executive Officer
Slide 4: Financial and Operational Highlights
Financial Overview Financial Highlights • Solid project revenue and higher volumes in Wealth Solutions - 3Q Recurring revenue: $ 458M - 3Q Project revenue: $ 42M • $108M free cash flow YTD $500M $86M • $542M in total liquidity; $212M in Cash 3Q Revenue 3Q Adj. EBITDA1 • $2.1B of revenue under contra
Slide 5: Focused on three primary levers: Health, Wealth and Leaves
Focused on three primary levers: Health penetration, Wealth development and Leaves expansion 1 2 3 Health Wealth Leaves • Growth opportunities in • One of the largest • Large TAM provides growth segments beyond Fortune 500 administrators in the wealth opportunities; Alight is one of • Strengthening
Slide 6: Building a stronger Alight
Building a stronger Alight STEP 1 STEP 2 END RESULT Drive renewal retention and Reinforce market expansion leadership We are already seeing proof points of To win new logos and displace Driving growth improving retention + competitors in white space → Investing in the client experience: • Increase i
Slide 7: Strategic initiatives for investment
Strategic initiatives for investment CLIENT EXPERIENCE SERVICE EXCELLENCE Agentic Call Center AI-Native User Experience (UX) 1 Modern, intuitive experience that drives 3 Smarter routing, self-service, and agent enablement adoption and reduces friction AI-Enabled Implementation and Annual Enrollment
Slide 8: Well-positioned for increasing demand and unique client needs
Well-positioned for increasing demand and the unique needs of clients across spectrum of size and complexity Increasing client Non-discretionary Resilient Uniquely positioned demand offering business model in large TAM Employers lack in-house Providing employees Employee benefits Alight is uniquely
Slide 9: Abett acquisition accelerates strategic priorities
Abett acquisition accelerates strategic priorities BENEFITS ECOSYSTEM DATA WHAT IT POWERS Health plans and TPAs Medical claims, eligibility Benefit Program Performance How are my benefits programs performing? Pharmacy benefit managers ONE FOUNDATION See activity, utilization and value across Pharmac
Slide 10: Introducing a new experience — powered by AI
Introducing a new experience — powered by AI New data foundation Unified data layer — one source of truth across every channel for health and leaves. Agentic experience AI simplifies benefits, personalizes answers, and guides actions for employees. Increased self-service control Clients receive incr
Slide 11: Call center modernization investments – driving real results
Call center modernization investments – driving real results Natural language Automated call Agent AI training interactive voice summarization assist simulation response (IVR) Automating routine calls with Auto-generating concise, Helping agents resolve issues Accelerating agent readiness conversati
Slide 12: Financial results
3RD QUARTER 2026 EARNINGS Financial results Steve Lasher Chief Financial Officer
Slide 13: 3Q & YTD 2026 financial results
3Q & YTD 2026 financial results ($ in millions) 3Q26 3Q25 Change YTD 2026 YTD 2025 Change Revenue Recurring Revenue $458 $489 (6.3%) $1,427 $1,501 (4.9%) Project Revenue $42 $44 (4.5%) $118 $108 9.3% Total Revenue $500 $533 (6.2%) $1,545 $1,609 (4.0%) Adjusted Gross Profit1 $168 $206 ($38) $533 $611
Slide 14: Maximizing capital position
Maximizing capital position YTD Free Cash Flow ($M) $151 ($ millions) 9/30/2026 12/31/2025 $108 Total Debt $1,991 $2,005 Less Cash $212 $273 Net Debt $1,779 $1,732 9/30/25 9/30/26 - $542M of liquidity at September 30, 2026 - $212M in cash and equivalents - $330M available on revolver - Preserving ca
Slide 15: Full Year 2026 Expectations
Full Year 2026 Expectations Raising Full Year Guidance FY’26 FY’26 ($ millions) Prior Guidance New Guidance (reported as of 8/4) 2026 Outlook 2026 Revenue $2,115 to $2,125 $2,078 to $2,098 2026 Adjusted EBITDA $410 to $420 $400 to $415 15 | © 2026 Alight. All rights reserved.
Slide 16: Looking forward
3RD QUARTER 2026 EARNINGS Looking forward
Slide 17: A sequenced three-year plan establishes a platform advantage
A sequenced three-year plan establishes a platform advantage expected to deliver improved retention and sales 2026 2027 2028 Reinforcing Foundation Build Business Momentum Stabilize and Expand Strong cash generation Platform advantages begin to Differentiated operating supports reinvestment show thr
Slide 18: Q&A
3RD QUARTER 2026 EARNINGS Q&A
Slide 19: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP to Non-GAAP Reconciliations
Slide 20: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA (unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2026 2025 2026 2025 Net Income (Loss) From Continuing Operations $ (51) $ (1,055) $ (80) $ (2,145) Interest expense 25 24 73 68 Income tax expense (benefi
Slide 21: Reconciliation of Gross Profit to Adjusted Gross Profit
Reconciliation of Gross Profit to Adjusted Gross Profit (unaudited) Three Months Ended September 30, Nine Months Ended September 30, ($ in millions) 2026 2025 2026 2025 Gross Profit $ 135 $ 178 $ 433 $ 525 Add: stock-based compensation 2 — 6 5 Add: depreciation and amortization 31 28 94 81 Adjusted
Slide 22: Reconciliation of Net (Loss) Income to Adjusted Net Income & Adjusted EPS
Reconciliation of Net (Loss) Income to Adjusted Net Income & Adjusted Diluted Earnings per Share (unaudited) 1. Excludes the impact of discontinued operations. 2. Transaction and integration expenses primarily relate to acquisition and divestiture activities. 3. Goodwill impairment and other primari
Slide 23: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (unaudited) Nine Months Ended September 30, ($ in millions) 2026 2025 Non-GAAP free cash flow reconciliation: Cash provided by operating activities - continuing operations $ 181 $ 236 Capital expenditures (73) (85) Non-GAAP free cash flow $ 108 $ 151 23 | © 2026 Alig