Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 67

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 67
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5 fiscal year, a note with an aggregate principal amount of up to $150 million (the “Additional Seller Note”) and an initial fair value of $43 million as of July 12, 2024 to be issued by the Note Issuer. The Seller Note has a stated interest rate of 8.0%. The Company incurred higher operating expenses in 2024 as a result of professional fees paid in conjunction with the Transaction. 

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EXECUTIVE SUMMARY OF FINANCIAL RESULTS

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is intended to help the reader understand the results of operations and financial condition of Alight. This MD&A is provided as a supplement to, and should be read in conjunction with, our consolidated financial statements and the accompanying Notes to Financial Statements (Part II, Item 8 of this Form 10-K). This section generally discusses the results of our operations for the year ended December 31, 2024 compared to the year ended December 31, 2023. For a discussion of the year ended December 31, 2023 compared to the year ended December 31, 2022, please refer to Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024, noting the results for the year ended December 31, 2023 and year ended December 31, 2022 have since been recast in this Form 10-K.

The following table sets forth our historical results of operations for the periods indicated below:

Year Ended December 31,(in millions)202420232022Revenue$2,332 $2,386 $2,207 Cost of services, exclusive of depreciation and amortization1,442 1,504 1,472 Depreciation and amortization96 72 49 Gross Profit794 810 686 Operating ExpensesSelling, general and administrative585 590 479 Depreciation and intangible amortization299 301 301 Total Operating expenses884 891 780 Operating Income (Loss) From Continuing Operations(90)(81)(94)Other (Income) Expense(Gain) Loss from change in fair value of financial instruments(57)10 (38)(Gain) Loss from change in fair value of tax receivable agreement