Increased Profitability and Cash Flow
Revenue for the quarter was $528 million with an adjusted EBITDA of $127 million, representing an 80 basis point margin increase over the prior year. Free cash flow for the first half was up over 30%.
Strategic Advancements in Technology
Significant advancements were made using AI to redefine user experience and enhance client management and delivery capabilities. Partnerships with Microsoft and IBM were highlighted as key to scaling AI capabilities.
Partnership with Goldman Sachs
Alight announced a partnership with Goldman Sachs Asset Management to expand wealth offerings, expected to drive significant revenue growth over the next few years.
Strong Client Renewals
Notable client renewals include Target, Johnson & Johnson, Hyatt, State of Georgia, Best Buy, Highmark Health, and John Hancock, with some leading to an expansion of services.
Free Cash Flow Improvement
Free cash flow for the first half was $102 million, up 31% from the prior year, on track towards the annual target of $250 million to $285 million.