Revenue fell to $500.0M in 2026Q3 while operating margin deteriorated to -12.2% from -7.8% in 2026Q2, indicating that persistent losses are not yet offset by cost control.
Alight, Inc. (ALIT) annual income statement — 9-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 |
|---|
| Sales/Revenue | 2.2B | 2.26B | 2.33B | 3.41B | 2.21B | 2.92B | 2.73B | 2.55B | 2.38B | 2.3B |
| Revenue Growth % | -3.98% | -3% | -31.61% | 54.51% | -24.29% | 6.85% | 6.9% | 7.32% | 3.35% | - |
| Cost of Goods Sold | 1.85B | 1.79B | 1.54B | 2.27B | 1.52B | 2.22B | 1.89B | 1.67B | 1.53B | 1.5B |
| COGS % of Revenue | - | 79.27% | 65.95% | 66.57% | 68.92% | 76.23% | 69.43% | 65.4% | 64.21% | 65.1% |
| Gross Profit | 349M | 469M | 794M | 1.14B | 686M | 693M | 834M | 883M | 851M | 803M |
| Gross Margin % | 15.88% | 20.73% | 34.05% | 33.43% | 31.08% | 23.77% | 30.57% | 34.6% | 35.79% | 34.9% |
| Gross Profit Growth % | - | -40.93% | -30.35% | 66.18% | -1.01% | -16.91% | -5.55% | 3.76% | 5.98% | - |
| Operating Expenses | -1.9B | 435M | 884M | 1.24B | 780M | 499M | 687M | 618M | 647M | 614M |
| OpEx % of Revenue | - | 19.23% | 37.91% | 36.39% | 35.34% | 17.12% | 25.18% | 24.22% | 27.21% | 26.68% |
| Selling, General & Admin | 450M | 435M | 585M | 754M | 479M | 499M | 461M | 415M | 452M | 376M |
| SG&A % of Revenue | - | 19.23% | 25.09% | 22.11% | 21.7% | 17.12% | 16.9% | 16.26% | 19.01% | 16.34% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 0 | 299M | 487M | 301M | 0 | 226M | 203M | 195M | 237M |
| Operating Income | 2.25B | 34M | -90M | -101M | -94M | 194M | 147M | 265M | 204M | 190M |
| Operating Margin % | 102.41% | 1.5% | -3.86% | -2.96% | -4.26% | 6.66% | 5.39% | 10.38% | 8.58% | 8.26% |
| Operating Income Growth % | - | 137.78% | 10.89% | -7.45% | -148.45% | 31.97% | -44.53% | 29.9% | 7.37% | - |
| EBITDA | 2.67B | 441M | 305M | 272M | 301M | 548M | 438M | 518M | 433M | 382M |
| EBITDA Margin % | 121.38% | 19.5% | 13.08% | 7.98% | 13.64% | 18.8% | 16.06% | 20.3% | 18.21% | 16.6% |
| EBITDA Growth % | 241.16% | 44.59% | 12.13% | -9.63% | -45.07% | 25.11% | -15.44% | 19.63% | 13.35% | - |
| D&A (Non-Cash Add-back) | 417M | 407M | 395M | 373M | 395M | 354M | 291M | 253M | 229M | 192M |
| EBIT | -821M | -2.97B | -45M | -235M | -3M | 127M | 140M | 262M | 204M | 269M |
| Net Interest Income | -97M | -92M | -103M | -131M | -122M | 0 | -234M | -224M | -208M | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 180M | 0 | 0 | 0 | 114M |
| Interest Expense | 97M | 92M | 103M | 131M | 122M | 180M | 234M | 224M | 208M | 0 |
| Other Income/Expense | -3.08B | -3.1B | -58M | -265M | -30M | -247M | -241M | -227M | -208M | -115M |
| Pretax Income | -828M | -3.06B | -148M | -366M | -124M | -53M | -94M | 38M | -4M | 75M |
| Pretax Margin % | -37.67% | -135.37% | -6.35% | -10.73% | -5.62% | -1.82% | -3.45% | 1.49% | -0.17% | 3.26% |
| Income Tax | 185M | 16M | -8M | -4M | 16M | 20M | 9M | 16M | 17M | 34M |
| Effective Tax Rate % | -22.34% | -0.52% | 5.41% | 1.09% | -12.9% | -37.74% | -9.57% | 42.11% | -425% | 45.33% |
| Net Income | -1.01B | -3.1B | -157M | -345M | -62M | -60M | -103M | 22M | -21M | 24M |
| Net Margin % | -46.04% | -136.91% | -6.73% | -10.12% | -2.81% | -2.06% | -3.78% | 0.86% | -0.88% | 1.04% |
| Net Income Growth % | 53.08% | -1872.61% | 54.49% | -456.45% | -3.33% | 41.75% | -568.18% | 204.76% | -187.5% | - |
| Net Income (Continuing) | -1.01B | -3.08B | -140M | -362M | -140M | -73M | -103M | 22M | -21M | 41M |
| Discontinued Operations | 1000K | -21M | -19M | 0 | 68M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 2M | 2M | 4M | 280M | 650M | 788M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -38.30 | -117.40 | -5.80 | -14.00 | -2.80 | -2.80 | -4.60 | 0.98 | -0.94 | 3.80 |
| EPS Growth % | 51.94% | -1924.14% | 58.57% | -400% | 0% | 39.13% | -567.48% | 204.68% | -124.74% | - |
| EPS (Basic) | - | -117.40 | -5.80 | -14.00 | -2.80 | -2.80 | -4.60 | 0.98 | -0.94 | 3.80 |
| Diluted Shares Outstanding | 26.42M | 26.38M | 27.36M | 24.47M | 22.93M | 21.99M | 22.34M | 22.34M | 22.34M | 6.22M |
| Basic Shares Outstanding | 26.42M | 26.38M | 27.31M | 24.47M | 22.93M | 21.99M | 22.34M | 22.34M | 22.34M | 6.22M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | 45.45% | - | 287.5% |
Quick answers to the most common questions about buying ALIT stock.
For fiscal year 2025, Alight, Inc. (ALIT) reported total revenue of $2.26B. This represents a 1.7% decline compared to $2.30B in 2017.
Alight, Inc. (ALIT) reported a net loss of $3.10B for the fiscal year ending 2025.
Alight, Inc. (ALIT) reported an operating income of $34.0M, resulting in an operating profit margin of 1.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Alight, Inc. (ALIT) generated $469.0M in gross profit for the year, representing a gross profit margin of 20.7%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent operating losses and revenue decline
Metrics are mathematically derived from official filings.
Revenue Declining Across Recent Quarters
Based on the reported quarterly income statement data, Alight's revenue fell from $548.0M in 2025Q1 to $500.0M in 2026Q3, with year-over-year declines of roughly 2% to 6% across the most recent periods.
The revenue trend points to a business in gradual contraction rather than a temporary soft patch, since the decline persists across several consecutive quarters. The reported figures do not identify volume versus pricing drivers, so the cause of the shrinkage cannot be attributed from this data alone, and investors should monitor whether client attrition or pricing pressure is behind it. Continued top-line erosion would make the existing cost base harder to absorb.
Gross Margin Compressing Toward Mid-Twenties
As reported in the financial statements, Alight's gross margin declined from 39.9% in 2024Q4 and 38.6% in 2025Q3 to 27.0% in 2026Q3, a meaningful structural compression.
Gross margin contraction of this magnitude suggests either weaker pricing power or rising delivery costs relative to revenue, and the quarterly volatility, including a negative gross profit in 2025Q4, warrants further investigation. Compared with peers such as Aon at 47.7% and Marsh & McLennan at 42.8%, Alight's margin profile appears structurally weaker. The data does not isolate the cost drivers behind the decline.
Operating Losses Persist Despite Cost Control
According to reported figures, Alight's SG&A held near $105M to $122M per quarter while operating margin deteriorated to -12.2% in 2026Q3 from -7.8% in 2026Q2.
Operating income is falling faster than revenue, which indicates negative operating leverage: fixed overhead is being spread over a shrinking gross profit base. SG&A has not fallen in line with the revenue decline, so overhead efficiency appears to be lagging. Sustained operating losses would require either a margin recovery or further cost restructuring to restore profitability.
Net Losses Amplified by Non-Operating Items
Based on Alight's reported figures, net income swung from a $932.0M loss in 2025Q4 and a $1.1B loss in 2025Q2 to smaller losses, indicating large non-operating or one-time items.
The gap between operating and net results in several quarters is large, suggesting that non-operating items such as impairments, interest, or tax effects dominate reported earnings. Because the data does not decompose these items, the recurring earnings power cannot be reliably separated from one-off charges. Investors should treat reported EPS with caution until the components are clarified.
Margin Erosion Could Deepen the Losses
The strongest challenge to any recovery thesis is that Alight's gross margin fell from 39.9% to 27.0% over roughly two years while peers held mid-to-high forties, suggesting structural rather than cyclical pressure.
If the margin decline reflects lost pricing power or a client mix shift, further compression could continue even if revenue stabilizes. Persistent operating losses combined with declining revenue would limit the company's capacity to fund restructuring from earnings. This analysis is inferential, based only on the reported quarterly figures provided.