Earnings call transcript Q1 2023

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Operator

Good morning, and thank you for holding. My name is Irene, and I will be your conference operator today. Welcome to Alight's First Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today's call is being recorded, and a replay of the call will be available on the Investor Relations section of the company's website.

And now I would like to turn the call over to Jeremy Cohen, Vice President of Investor Relations at Alight. ahead. go Please

Jeremy Cohen

on thank company and XXXX joining Earlier investor.alight.com. be us. A the section Good website company's a you press the at found can release issued of quarter Investor release today, Relations copy of morning, the for the with results. first

expressed Before materially performance. Such implied the are forward-looking variety or discussion we not note from Actual will statements today guarantees a of started, some please future results statements differ may include those get of forward-looking to the that company's forward-looking in statements. due factors. of

discussed more factors company's undertake The company recent are Form factors statements. to be the any These most SEC, periodic filings. obligation such as time in the may company's the filings in not with forward-looking XX-K company's does updated in update the to including from detail time

the financial call, of to be conference GAAP comparable the this in release. historical non-GAAP Reconciliations their non-GAAP company's throughout company financial measures today's earnings measures financial directly measures. press will Also, appear most presenting

from today questions. CFO. will are Rooney, CEO; Katie remarks, and prepared their After the the management call up open On Stephan for Scholl, call we

hand to Stephan. I call will the now over

Stephan Scholl

and XXXX. today, all a results from thank morning, joining us. to for begin Earlier quarter strong Thanks, Good are pleased Jeremy. on building we momentum our everyone, QX our report released you and to the year,

And than year-over-year. by over our have growth of year we the our business. quality quarter, surpassed as revenue we we XX% nearly start, the for revenue nearly the point of trajectory X $X.X line XX%. bookings billion months XX%, in are into top represented increase original the delivered percentage quarterly X translating of revenue of earlier bookings, a This the total At of signifies both BPaaS important cumulative projections. BPaaS growth BPaaS improved led how milestone our and nine performance,

system of platform optimize financial people. pipeline employee drive the record customers sales engagement strong health funnel, throughout with of combinations is to and robust with well-being the activity looking remains resonating their to and our And our are that

The lease for recent content our the even high acquisition allow and our process, greater through of ReedGroup further by clients us pipeline retention creating adding to and clients supporting value capabilities amplified our support rates. our that has

As we technology in trajectory, about in that business quarters. talked our about think positive it's the rooted we've and previous transformation

for and how commitment transformation Let focus to investments growth. enhancing a me strategic moment on is driving our our this

recently product our the through Worklife latest release Alight announced we platform. ongoing First, innovation, of the

are areas. and we on twice-yearly this two cadence focused recall, a may on release you release key As

First, well-being second, expanding access within of the and fully and spouses Alight employees capabilities integrating more and our Worklife platform. platform the to expanding families,

moments drive Taken and families updates and mental directly complex together, will and well financial and engagement improve that experience higher the through physical, employees their all to these their impact being. utilization user

organizations with to As market capabilities. end-to-end offer our we of we Workday, end, global a and with offering. source, of to our enhance offering, European recently and a solution leading recognition countries a that an various To we're partnership announced also unified empowers kind in simplified powerful their first expanded its seeing workforce pay manage that

company and Fortune to XX wins with time a a Additionally, and long with and that I'm Alight expanded client translating clients. been relationship existing new our investments are product, go-to-market in client. has of excited our the to technology relationships food expansion beverage announce

client's Alight retiree and of bringing population. includes all Worklife experience, on the and payroll the cloud, building are we We are integration which health,

for wasn't the advertising many but their agreements new the fragmented agency workforce. the architecture was announce to MasterBrand it vendors, leading manufacturer cabinets North pleased having networks like number utilized that a marketing with of also MasterBrand, world. the in a global largest desired impact and of Dentsu, employers American and We're one

with brings Alight of healthy their health their the just for entire whether people, unique diagnosed the dots complex they're ecosystem or needs to get the Worklife a employees between issue. together

of relationship platform and The an example payroll how to use the we with commitment to markets experience. provide Worklife Alight Dentsu demonstrates continued international an integrated is our

making While we invest on previously progress program. for our restructuring growth, we're also announced

our As this front on reminder, improving have the efficiency initiative focused on a is the we already end completed transformational infrastructure, complementing of the back work end.

applications. time pleased X to Phase the we on customers have to and completed cloud transition as We of core migration our our actively are

the for As move our to customers At out our ability our we data physical on-premise cloud deliver running innovation every of of complete time, to dual pace related of margin to enhance centers, we the by the to day. redundant costs shifting this expect accelerate and same profile infrastructures. process eliminating will enhance

of York both New we an and progress growth, Day light flow where strong story. we phase initiatives, at top financial include our continued a Alight share bottom will Investor operating In our host reaffirming XXXX in week, Stock less targets, on margin we'll the than the the And and cash are line double-digit Exchange, next expansion generation. of which

for their we of in how people We forward look of one. drive how you Alight and category show outcomes our a seeing to there. will clients truly and We many is

our performance. And with to turn over the to into that, I'll call Katie financial dive

Katie Rooney

the everyone. strong year Thank footing. We our morning, Stephan, on third of you, and good transformation started

contributing paying As Stephan results. investments noted, and off to strategic positive our are our

our consolidated Let first results. with start me

During as XX.X%, higher the we to first achieved into revenue. revenue continue highlighted revenue translate by prior growth bookings contracted XX% quarter, of of BPaaS growth

a of increase from continue comprised we stable and total shift year. Recurring result, a more revenue, As resilient towards were prior which point the see a basis revenues, revenue recurring XX%. XXX to XX.X% up

over ahead million, our were in began we $X.X is $XX billion since bookings and X we BPaaS the have total quarter in which for of now cumulatively, XXXX, bookings transformation plan. achieved months

bookings deals. the will by large continue of profile As we've before, be to mentioned our timing impacted

we of Our $X pipeline full and to bookings to continue remains robust, million BPaaS expect year $XXX billion.

of $XXX XX.X%, to increased certain in detail with investments an describe million momentarily. strategic of will margin that EBITDA I impact Adjusted X.X% reflects profitability. Turning the adjusted EBITDA to which

are as product, driving still investments and technology make delivering Even cash cash that translates for we This generation, I'm of account significantly say rate robust both year, go-to-market operating million these strategy, flow we pleased of XX% in $XX our cash operating we activity. ahead rate quarter. of even our as into flow investments last and XX%, the our conversion to for an conversion restructuring

moment Let contextualizing a me spend investments. those

$XX that, span For investments. $XX full that the year, roughly in investments we represents annual million ongoing highlighted approximately year. the Of million

includes As in strategy. specifically product connected technology, Worklife as our our in Alight and go-to-market noted, to well platform, as this investments

is connection long-term QX with as the in our as which capture remaining XX in million ongoing to of The our release the a schedule $XX opportunity. GE the product of concentrated customer balance first including of sustainably and and company. company well our investments XXXX deals, us Fortune the model, transformation These are defining support care half year positioning delivery

the going segments. I'm performance our to of discuss Next, two

segment, as we discuss to into is business bears segments As it into no two, three hosted that longer reminding we the core it other recently moving our realigned reporting our operations.

you'll resources transformation changed best represent EBITDA an better as will see adjusted our from aligns investments. metric. a our we and believe segment profit impact to the present we with profitability this how addition, In allocate metric how of disclosures, performance and We gross assess we and in

So let me now Solutions Employer turn segment. to the

federal roughly recurring up the Contributing and X%. well as go-live, the commercial with from net XX.X% XX.X% activity, volumes impact up up was project growth revenue revenue the acquisition. revenue and was to our as Thrift increased quarter Reed First

gross million. profit Our Adjusted XX.X% adjusted quarter into margin increased to improving points basis gross profitability strong to up XX.X%. growth translated $XXX with by XXX first

Turning to our Professional Services segment.

to $XX going our X.X% adjusted public, This performance in Services year. driven revenue reflecting recurring strength First was million, [ph] XX% quarterly Professional top best growth $X million. the up since quarter gross revenue the entering profit was and sales and backlog line pipeline of OneAlight by up represents

balance to sheet. Turning our

equivalents cash was Our total quarter and billion. $XXX million, our $X.X end debt balance was cash, and

We continue actions our with key quarter. manage during to taken actively the debt

through First, portfolio now we fixed through are and XXXX. hedge XX% our XXXX increased XX% and

leverage-neutral our it XXXX with completing million and we maturity loan. our profile XXXX debt term loan, combined by of our Second, modified term $XX a add-on

result, no we maturities until debt a As XXXX. now have

of part million price. As opportunistically March shares at the X.X we offering, repurchased secondary attractive an

million. our authorization $XX As remaining share repurchase of stood at X/XX,

against inorganically stock As in M&A. attractive always, the to disciplined and evaluate we for opportunities through investing business have organically other we buybacks will continue

on Turning huge we of revenue a to while and to our impacted for environment outlook. another continue at quarter us swings. year. first we the business, macro first be in track And tending successful quarter project course Revenue our by line, We trend under contract keeps to believe as performance our normal XX%. strong with was remain a watch end visibility confident

of EBITDA adjusted billion $X.XX guidance, or We to are billion Adjusted EPS or consisting XX%: the XX% even reaffirming growth XX investment. XX% $XXX to up to basis of to of $X.XX XX%. $XXX aforementioned expansion full XX%, or of growth our X% million growth with to XXXX $X.XX year $X.XX million points XX EBITDA to of $XX of to of revenue of margin million with

adjusted rate XX% we $XXX up work be and an large half, in to from last and a the to towards to $X XX% for value million second with the the expect weighted BPaaS we monitor contract flow bookings Federal to the half. cash growth perspective, billion part first half, second project of expect be to higher EBITDA of due total we operating From investments as contract and conversion based our phasing in XX%, the half first of towards June weighted in revenue XXXX. go-live Thrift

we'll further previously, next color the Stock we're As hosting the and New Day on XX, on Exchange providing at our Investor be our York afternoon May chapter. of mentioned

first closing, is long-term path our working we transformation ahead positioning yet growth. our that excited for and is remain us believe another performance our In profitable indication and about quarter

concludes would we now questions. participants ask will please question-and-answer This Operator, instruct you move remarks, into the on session. how our to prepared and

Operator

is Schoenhaus Instructions] question Markets. [Operator from The you. ahead. of Please Capital first KeyBanc go Thank Scott

Scott Schoenhaus

briefly the team, and new to on Hi, wins. strong results I touch wanted the about international opportunities. congrats

Stephan, the domestic think, could kind tended prepared in Stephan, international client to What a more it? we talk bit about the really you want if base here. dig But international I side? on appreciate I on you're side, mentioned on in there. I growth know the to you I'd comments. opportunities the focus of little your seeing

Stephan Scholl

we're okay. said there couple markets international Yes. going and very years, Thanks, that. for our we're I the And excited to for - and I've of breaking thanks market last of the we're Very structure about appreciate with Scott. Cesar with up, how as team. the And comments.

And and win. for I in part exciting from seen think Carl [ph] them Aneel of a And as you've are the Workday's international, was announcement especially real growth huge European markets the X talk Workday track their

been I've international last talking about arm-in-arm But in they're really really solution. together companies market are the an internationally most to thing a so with strategy. looking locked is for we've And which good and that the seeing years, for is different joint X enterprise-wide same go no

as fatigued into the solution, internationally. architectures they're these integrated for Workday, and as the vendors, U.S. complete enterprise multiple with together solutions, complex solution have that multiple a There clients most bring wide now we more around looking market which,

So that we've of in Europe biggest of size are Europe working seen in the our seen we're some strongest we've are ever on deals pipelines internationally.

growth part for So our yes, of big a sure. strategy

Scott Schoenhaus

then That's whatnot. you the to more on of guys more ChatGPT, your platform? or into some integrate talk into and your these business, your all are to helpful. integrating margin started this exploring I'm Thanks. parts call offerings of the capabilities actively side, you AI-based if about functions with AI centers eliminate Have i.e., labor-intensive And ways wondering AI

Stephan Scholl

Yes.

automation piece, strategy. long digital heard is as element a for us from our so to and you've think core I Worklife the such

Worklife the some drive is launched that launched annual only not we key it that phone on people a experience. whole last to May know, activities as it thesis you better to And saw of across stats us with mobile customer are But our drive base. As to you make bunch QX, to a in of they for. the used using a we enrollment call entire

using platform. we're absolutely, the So Worklife

is how really we recommendation deliver engine individual. a of to The one AI it of the do piece

experience. as lives, on. so I've and experiences personal platform time, and we employee As Netflix on have have should you wonderful with the market Amazon know, for a our all consumers, same in the that long talked And

you automation, at drive core is of so AI strong that to API data strategy absolutely engine technology our architecture capability, built a recommendation we've of drive the And all aggregation, into the one. to Worklife need of that

us for around is that big playbook So a Worklife. definite for platform

Scott Schoenhaus

guys. Thanks,

Stephan Scholl

Scott. Appreciate it. Thanks,

Operator

JPMorgan. Huang question Please Next is from Tien-Tsin go ahead. of

Tien-Tsin Huang

bookings the we've and couple wondering for Hey, little the the bookings on be looks than the much. know thanks implied bit just usual so was just the I the curious seen the I'm in more the - can step year. I [Technical up in lumpy it's rest step-up BPaaS of years. It on Difficulty] a like of last

and bookings to your in to just So getting figure? full check want the pipeline the confidence replenishing year BPaaS

Stephan Scholl

Yes. it, Alight the the of in quarter strongest I off in listen, Yes. over we our pipelines said XXX%, $XXX largest up you growth. I history came over and Thanks, year-over-year, dollars we've just million of Tien. mean, with XXX%, our big deals. in just terms still mean, word think QX are seen I of sales And lumpiness. XXX%

last company second mentioned, came And deals us. the for that for think were of I GE XX I the to market deals even defining the week the shaping in as company, That quarter. truly and Fortune in, company one

really want or it a and quarter So we week whether the in year to note. the new the of first take that hits the QX week quarter, finished on in strong of the last

And of X kind $X.X ahead plan. months in of backdrop. then that's which billion bookings, we is year hit of the So X terms our

Katie we the to The 'XX myself And quarter guidance which largely 'XX. big bring that a heard as in-year won't maybe piece reaffirm think actually actually really got, allowed closed from until you've of a I the and revenue, on then QX us, lot and of we bookings. because 'XX for deals revenue us final while last that the drove Those bookings exciting. defining is lot smaller bookings two

quarters feeds of of us. want always next and few balance book of you kind between deals that So ahead the big that transformational a business

So healthy of strong still ahead and good us. balance, pipeline

Tien-Tsin Huang

appreciate I my on as cloud the I'll Perfect. just Maybe follow-up, migration. balance the well. comment ask

X didn't Phase mentioned You have side on is a done. tracking. we our I month were that

look X I midterm in how that conversions? Phase and what's get expect benefit, we what the it but full takes to time be? like, And could short curious with I'm the immediate the So respect can to know

Katie Rooney

question, good Yes, Tien-Tsin.

the of next be fully until won't So it out like data three a I think year. as of almost We process. phase centers

So you and right, of in you're process, infrastructure to converting client. going the have kind as that essence, a run through dual

So infrastructure, was all the new existing Phase a huge getting milestone. clients X was of which our of into kind

that migrate So you to to and the in this 'XX. all that see of kind of X obviously Phase over applications take little you'll is course continue year. continuing pause the a then bit a transactions We'll enrollment, and complete cycle through

of did the of this was see think to get I seamlessly Phase again, X, to So was on through - our for just phenomenal work full and the for kind us plan. track team clients kind keep us the

Stephan Scholl

as Phase remember, Phase clients. getting you said layer the all you on equally platform stuff That's if last May. of X last don't it the all deployed And most throughout infrastructure house, the see obviously plumbing, the experience layer, Yes. and the was we X is year, front Worklife, to visible right? the important, side about

incorporating drive a to about level back super experience, requires system headless, know, modernized important As data, for that the third-party platform, data, at strategy record aggregation applications of our you our all office. it's us, making you think of as

part all of X. of are the those Phase So elements

last as that. year next to we time X us I And able have call, all on said by And X of to window, year, replaced I think a basically history. will the window a year do over that's years be significant XX milestone in for this a

Tien-Tsin Huang

all you next week. to sure. See No, hear. great Yes. for That's

Katie Rooney

Thanks, Tien-Tsin.

Stephan Scholl

Yes, thank you.

Tien-Tsin Huang

it. Looking forward to

Operator

Company. The Please from go of ahead. next is Kyle Needham question Peterson &

Kyle Peterson

taking Great. Good morning, the guys. Thanks for questions.

had these any on some to directly or disruption that volatility, or side, impact from March you either of might anything execution might in see touch experienced of from have for guys clients the these have wanted kind regional have have ongoing Just payroll disruption either be to and guys used banks it's whether any the quarter-to-date some led or might here? that anybody bank

Katie Rooney

Kyle. Yes.

able client As with We've through across base you that to used been that we We the have kind regional right, know, payroll. have of diverse clients do navigate banks very a of have some and ecosystem. them. the

impact, relationship of with client about have we I an base. as just seen kind think So the not our

For been think I other us, the from a important. that's piece corporation,

about talk has a cash and of a bit kind liquidity me from little in financing, really I also strong flow been area an sure our You perspective, debt place think, focus. of we, are making a heard

you if would significant take I back, or really a clients us impact step our again, at no this So say for point.

Kyle Peterson

outside fourth we Obviously, flow All maybe right. the a and That's bit investments some capital the balance free to you Reed great in And hear. maybe the of the buyback of about follow-up of deployment organic kind should of just pipeline little deployment M&A first on bought but cash year? in and of the here. in kind the a and quarter, the on how of quarter the priorities guys think

Katie Rooney

Yes. I great mean the continues cash flow improve. to is news

of to kind been availability So you're organic a number to options, us both obviously have of we first look continue at seeing has that's whether do. investment, which priority

Next we've the accelerate has that be area can attractive right strategy, acquisitions said multiples an we that find been our focus. can at if - priority will of

we very kind attractive be about where would can for valuations are think buyback If us marketplace the are and today, opportunity I in as say, disciplined well. we we an think as can't, of I

continue we'll the priority those year. look both the to of as for at So

Kyle Peterson

That's Nice to quarter. hear. All good right.

Katie Rooney

Kyle. Thanks,

Stephan Scholl

Thank you.

Operator

is Peter question D.A. next of The from Davidson. Heckmann go Please ahead.

Peter Heckmann

I wanted to ask to - everyone. Good ask wanted a morning, I question.

over Given there on schedule Are staff your last finding should the the about? we looking? have several Or thinking them be is to push-outs time? years, that strong and conversion backlog to or hurdles remain you any ability how bookings the been

Katie Rooney

We've have of them team a has accelerate. phenomenal there the deals, of Yes. mean keep some of we history on mean, those. to I a we've of even I that's through really to working haven't done some accelerate enabled though implementation been. investments, the us those that. job kind of doing our No, seen right, large But signed track. right,

has sit We're could to through So seeing but big a deals. they today, from get The remain team take the track faster a we phenomenal the wish implementation. less with I job. not long on in I there, work we the delays we where right? mean, time, only and thing underway done still again, any is live those

Peter Heckmann

for might what It thinking business? the to which great does just the indicators terms rely think And feel or macro, business? push-outs to that then other really three That's for macro to guess, to potential of impacts I helpful in tracking management your really four hear. on other leading metrics you or are and be keep us about be for good indicators about

Katie Rooney

said, Yes. Pete, go of headwind, talked don't news we've it's revenue right, you in cycles, is, [ph] think in if an leave, But for we've contract, because will see I into under if a mean our good a it. - just short-term people, plan, health service. immediate we remember, good to continue lot even the which instance, a about business question. co-growth they you recurring the they you if about

a is question where time the spend of lot on we impacts. the more longer-term So focusing

sustainably, that months see I more impact we been kick aggressively, down X Again, right, the into to are the an down starting aren't the would they more potentially start important X months unemployment to off, metric. have line, think you So line. back that's up where coming after workforce people laid

not So immediate. it's

Stephan customer bit the us that it, And time a demand, about other of improving it's a our help think consolidation, you've and little mean potential are be for clients thinking unique news talk I I to experience. great. they great point to to piece the about pressures, cost actually able heard is, really then as the right? That's is

a the impact same project-based from those regulatory revenue. People We see hold. up. market does change. don't the decisions of project kind some of If scenario, see lot we That at picking put to M&A of a on time, don't start

Stephan Scholl

consolidation, capability in That I clients Pete, very and services simplification. I've platform now of was our type Yes. drive said because intentional seen headwinds deals, the on meaning you're was last business, that. largely [ph] as year, the focusing helping you've driving seeing rebound on our OneAlight Services

clients. systems as the best what's looking to into the dynamic clients a a do to corporations is landscape themselves said almost time, much that. is So ago And as for systems HR are it how XX, of can. how recession the XX landscape was they dealt window a years macro with I've for proof way long their

And last that in we years. saw the of couple so

what's seeing reference built have look we've think good to clients is type we're lot go XX, that build drive I us a so And employees reduce to architecture platform strong through. to help really the And touch muscle XX dynamic. OneAlight delivery of consolidate, services XX, that now for simplify, that points to

So as favor that's year. really into this in look our we

Peter Heckmann

next look forward Okay. to bit little week. more digging Great. I a That's helpful.

Stephan Scholl

You bet.

Katie Rooney

Thanks, Pete.

Operator

is Suisse. The Credit Kevin McVeigh next go question from of Please ahead.

Kevin McVeigh

into Katie much. then so restructuring of there's the cost or in next and of from come the and - remind the $XX this from year, for Stephan. 'XX? of the you 'XX. Maybe benefit The cloud of Great. benefit us what's when $XX P&L benefit sequencing as that? the kind specifically the kind the conversion restructuring, off Thanks P&L of on-prem I P&L you year, million well, in cloud know but from million Can

Katie Rooney

Kevin. Yes.

going just to I'm correct slightly. you So

this So two numbers year.

commercial investments, P&L, go-to-market tech, flowing those. have million of all about, of as $XX we've talked through We the of kind right,

the million then million also have sit of that expectation. 'XX, We kind current in of is will years, our over $XX $XXX restructuring X program

million, And so that a million. expect rate $XXX and run we on - $XXX of benefit

Investor on think about you'll EBITDA, about Day adjusted XX we of again, I'd basis is you will this I in as we're Monday. more also year, And think then That say for 'XX. to said what expansion. going time spend points on this XX improve lot a to at So see

will kind over couple how of in years. can we'll it so translates detail into go I all a that next that more lot the you, hopefully, of see for think, So help you

Kevin McVeigh

a seems back providing Is joint little them? terms are understand circling Terrific. bit short just partnership. pretty modules of way the interesting that then you it for about in maybe it any them maybe the more? what it it seems to And with that past? that market? - like and pretty on Workday a out big we to It of And be Can in compare because economics opportunity would done go-to think you've

Stephan Scholl

deal too. done never or Listen, history either. unique them, deal their Yes. for They've it's partnership this a a like a in

us, Aneel all both ingredient vision And Carl integrated are the stems it's of exciting. customers than from that and it which Payroll for looking So are is solutions. having for solutions, point looking same one-off do, Global now that. rather and to more type They I key is a

And their the huge as markets, that is last won with you we know, won we - are aggressively - deals the especially we've where in in very few Europe. the the one growing of years, footprint Workday in in deals European

they're with that going a our includes So products. recipe

So the it's where as part of to product Payroll, are approach. around Global we their a Global partnership product components sales Payroll

as we're then one know, largest And you of implementers their of Workday.

course, the our the the we're the not includes only the solution platform HR door piece, of can front a end-to-end then piece, payroll ones Global being the a of bring pieces, lot who elements. U.S. Worklife well of that complete kind most So for Payroll as

Europe. always complete human Global CEOs the a on complete you capital very a makes in very And of specifically footprint about platform CFOs market, And Global Workday all set but very lot product lot have Payroll, it is the a of as they Alight of when course, a it's in So the us, focused we Payroll And and solution. we've side big the growth a market. together, and management not think right most oriented are only for know, of things. very, now, for said,

together us. for of So two partnership a a of pretty big great coming complement and the components

Kevin McVeigh

clients? potential to as kind Workday Stephan, it the that cross And new be forward That sounds terrific. existing is going of clients would across pollinate Or well?

Katie Rooney

partnership, Yes. we in APAC, that mean new the key the of LatAm, and six rollout focus, go where can kind following right, countries clients, the into into Kevin, then into U.S. after I right, up starting is expanding

focused but on we kind do and new to capture will So combined how been expand, a really offering. it that grow market continue with of it's

Kevin McVeigh

Terrific. Thank you.

Stephan Scholl

it. Great. Thanks, Appreciate Kevin.

Operator

Balsky next The America. question of Heather from of go is ahead. Please Bank

Emily Marzo

Emily first, Or Hi. you greater Balsky. macro cycles? sales taking seen seen revenue project in lengthening have guess, you Thank Marzo have for for Heather you of in guys questions. any This is I on uncertainty? any my in light the pullback

Katie Rooney

revenue, said, Emily. Professional there's today, where say Stephan really still when some you project pipeline a OneAlight we particularly From Services. of and as the Yes. sit around look strong deals would I

I think employer monitor of metrics, at I activity, question? area something, is that's we the - I said area we piece M&A plan what second more continue solutions of And changes, on to I some in around is right, earlier look as right that think question think of as more kind the now. sorry, second drives design the the monitoring we're closely that your

Stephan Scholl

Deal lengthening?

Katie Rooney

would OneAlight not which just our sure lengthening. take On the longer. deals bigger have say deals pipeline, the the lengthening. I I'm we I'd say deal are Yes, what I sales, say on in

said we're we great line, Stephan a big these where so which focused. deals is have it, And the getting kind of It's over pipeline.

Emily Marzo

Thank you.

Operator

closing this Stephan comments. to at time. Please sir. over ahead, turn for There are no further would questions Scholl the to back go floor I like

Stephan Scholl

very our many thank seeing day. us of for look next and New Thanks you joining and today, you, a Investor much, Great. forward everybody, York. great we Have to Day week really at in

Operator

Ladies concludes today's for you that Thank and gentlemen, joining conference. us.

disconnect lines. now may your You

Alight (ALIT) 9 May 232023 Q1 Earnings call transcript