ALIGHT Reports FY 2023 Second Quarter Earnings Results for June 30, 2023
August 9, 2023
🌥️Earnings Overview
ALIGHT ($NYSE:ALIT) announced its fiscal year 2023 second quarter earnings results on August 1 which ended on June 30, 2023. The total revenue for the quarter was $806 million, an increase of 12.7% from the same period last year. Unfortunately, the net income for the quarter was $-67 million, which is a decrease from the $51 million reported in the same quarter of the prior year.
Price History
On Tuesday, ALIGHT reported their financials for the second quarter of fiscal year 2023. For the quarter ending June 30, 2023, ALIGHT reported that their stock opened at $9.7 and closed at $9.7, down by 1.0% from its last closing price of $9.8. Investors responded negatively to the news, driving the stock price down to close at the same price as it opened. The remaining 13% of revenue came from other businesses including consulting services and software engineering. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Alight. More…
| Total Revenues | Net Income | Net Margin |
| 3.33k | -237 | -6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Alight. More…
| Operations | Investing | Financing |
| 330 | -245 | -165 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Alight. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.77k | 5.82k | 9.13 |
Key Ratios Snapshot
Some of the financial key ratios for Alight are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.1% | – | -2.8% |
| FCF Margin | ROE | ROA |
| 5.2% | -1.3% | -0.5% |
Analysis
At GoodWhale, we conducted an analysis of ALIGHT‘s fundamentals and the results were quite interesting. According to our Star Chart, ALIGHT is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. It is strong in some areas, such as its cashflows and debt, where it has a high health score of 7/10. However, ALIGHT is weak in terms of asset and dividend. Given its moderate growth and profitability, investors who are looking for a steady and reliable investment may be interested in ALIGHT. Since it is capable of paying off debt and funding future operations, it could be a good addition to a long-term portfolio. More…
Peers
Its competitors include Smartsheet Inc., Intapp Inc., and Xero Ltd.
– Smartsheet Inc ($NYSE:SMAR)
Smartsheet Inc is a publicly traded company with a market capitalization of 4.2 billion as of 2022. The company has a return on equity of -29.14%. Smartsheet is a provider of cloud-based software that enables users to collaborate on projects and workflows. The company’s software is used by businesses of all sizes, in a variety of industries, including construction, education, financial services, healthcare, manufacturing, and technology.
– Intapp Inc ($NASDAQ:INTA)
Intapp is a publicly traded company with a market capitalization of $1.33 billion as of 2022. The company has a negative return on equity of 25.04%. Intapp provides software and services that enable law firms and other professional services organizations to operate more efficiently and effectively. The company’s products are used by more than 2,000 firms around the world, including 50 of the Global 100 law firms.
– Xero Ltd ($ASX:XRO)
Xero Ltd is a cloud-based accounting software company. The company has a market capitalization of 11.1 billion as of 2022 and a return on equity of 2.38%. Xero was founded in 2006 and is headquartered in Wellington, New Zealand. The company’s accounting software is used by small and medium-sized businesses around the world.
Summary
Analysts are viewing ALIGHT‘s quarterly earnings results with mixed reactions. The company’s stock price has fallen slightly since the announcement, leaving investors uncertain of whether to invest in this company or not. Although the outlook appears grim, investors should take into account the long-term potential of ALIGHT before making any decisions.
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