LINCOLNSHIRE — Alight, a cloud-based human resources company and provider of employee and business solutions, reported financial results for the first quarter of its fiscal year ending March 31 on Monday, including revenue of $725 million. , up 5.2% compared to $689 million in the first quarter. same quarter in 2021.
Gross profit for the quarter increased 2.3% to $223 million, or 30.8% of revenue, from $218 million, or 31.6% of revenue, in the prior year period.
“Emerging from the pandemic, companies continue to struggle to attract and retain a more demanding workforce,” said CEO Stephan Scholl. “Our first quarter results illustrate the traction we are gaining from new and expanded customer relationships in the market with (business process as a service) revenue and bookings showing strong growth.”
Selling, general and administrative expenses for the quarter were $140 million, compared to $117 million in the prior year period. The increase was mainly due to the issuance of incentive awards related to capital compensation, the company said.