Company: ALIT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049916
Chunk: 13

Company: Alight, Inc. / Delaware
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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 the evaluation of ongoing operational performance. Adjusted EBITDA Margin From Continuing Operations is defined as Adjusted EBITDA From Continuing Operations divided by revenue. Adjusted EBITDA and Adjusted EBITDA Margin From Continuing Operations are non-GAAP financial measures used by management and our stakeholders to provide useful supplemental information that enables a better comparison of our performance across periods as well as to evaluate our core operating performance. A reconciliation of Adjusted EBITDA From Continuing Operations to Net Income (Loss) From Continuing Operations is as follows:

Three Months Ended September 30,Nine Months Ended September 30,(in millions)2025202420252024Net Income (Loss) From Continuing Operations$(1,055)$(44)$(2,145)$(169)Interest expense24 19 68 83 Income tax expense (benefit)(198)(9)(204)(34)Depreciation33 27 93 83 Intangible amortization70 70 211 210 EBITDA From Continuing Operations(1,126)63 (1,977)173 Share-based compensation3 11 14 59 Transaction and integration expenses (2)4 21 12 57 Restructuring4 12 44 45 (Gain) Loss from change in fair value of financial instruments(19)(23)1 (54)(Gain) Loss from change in fair value of tax receivable agreement(66)27 (34)51 Goodwill impairment and other (3)1,338 7 2,323 8 Adjusted EBITDA From Continuing Operations (1)$138 $118 $383 $339 Revenue$533 $555 $1,609 $1,652 Adjusted EBITDA Margin From Continuing Operations (4)25.9%21.3%23.8%20.5%

(1)Adjusted EBITDA excludes the impact of discontinued operations.

(2)Transaction and integration expenses primarily relate to acquisition and divestiture activities.

(3)Goodwill impairment and other primarily includes $1,338 million and $2,321 million non-cash goodwill impairment charges for the three and nine months ended September 30, 2025, respectively.  

(4)Adjusted EBITDA Margin From Continuing Operations is defined as Adjusted EBITDA From Continuing Operations as a percentage of revenue.

Employer Solutions Results of Operations for the Three and Nine Months Ended September 30, 202