Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 130

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 130
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 a consecutive period of 30 trading days. Both tranches have a seven-year duration.

(7)Excludes approximately 10.0 million and 14.4 million performance-based units, which represents the gross number of shares expected to vest based on achievement of the respective performance conditions as of March 31, 2025 and 2024, respectively.

Adjusted EBITDA From Continuing Operations and Adjusted EBITDA Margin From Continuing Operations

Adjusted EBITDA From Continuing Operations is defined as earnings before interest, taxes, depreciation and intangible amortization adjusted for the impact of certain non-cash and other items that we do not consider in 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 

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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 March 31,(in millions)20252024Net Income (Loss) From Continuing Operations (1)$(17)$(121)Interest expense22 31 Income tax expense (benefit)(3)(27)Depreciation30 26 Intangible amortization71 71 EBITDA From Continuing Operations103 (20)Share-based compensation6 28 Transaction and integration expenses (2)3 17 Restructuring4 15 (Gain) Loss from change in fair value of financial instruments(8)21 (Gain) Loss from change in fair value of tax receivable agreement9 55 Other1 — Adjusted EBITDA From Continuing Operations$118 $116 Revenue$548 $559 Adjusted EBITDA Margin From Continuing Operations (3)21.5 %20.8 %

(1)Adjusted EBITDA excludes the impact of discontinued operations. Comparable periods have been recast to exclude these impacts.

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

(3)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 Months Ended March 31, 2025 Compared to the Three