Alithya reports double-digit growth in revenues and continued margin expansion

Executive Summary

• Revenues grew 11.5% YoY to C$124.3 M, with a 25.5% increase in gross margin to C$42.8 M (34.4% of revenue).
• Net loss widened to C$31.0 M due to a C$38.0 M goodwill and intangible impairment; adjusted net earnings rose 80% YoY to C$9.5 M.
• Bookings were C$90.9 M (book‑to‑bill 0.73); cash from operations was C$1.1 M, and the company maintains a credit facility with $108.3 M of available liquidity.

Key Details

• Revenue: C$124.3 M (+11.5% YoY). Canada down 7.4%; U.S. up 34.8%; International up 15.7%.
• Gross Margin: C$42.8 M (+25.5% YoY); margin % of revenue 34.4% (up from 30.6%).
• SG&A Expenses: C$31.3 M (+20.8% YoY), representing 25.2% of revenue; includes $2.7 M related to recent acquisitions.
• Net Loss: C$31.0 M (vs. C$0.3 M prior year) driven by a C$38.0 M impairment charge. Basic loss per share C$0.32.
• Adjusted Net Earnings: C$9.5 M (+80% YoY); Adjusted EPS C$0.10.
• Adjusted EBITDA: C$12.8 M (+37.5% YoY); margin 10.3% of revenue (up from 8.3%).
• Bookings: C$90.9 M; Book‑to‑Bill ratio 0.73 (down from 0.75). Trailing‑12‑month bookings C$447.5 M, BTB 0.91.
• Liquidity: Net cash from operating activities C$1.1 M (down $1.9 M YoY); credit facility drawdowns $102.3 M; total available liquidity $108.3 M.
• Six‑Month Highlights: Revenue C$248.5 M (+6.9% YoY); Adjusted EBITDA C$24.4 M (+26.1%). Net loss for six months C$30.8 M (impairment driven).
• Normal Course Issuer Bid (NCIB): Authorized purchase of up to 5,939,183 subordinate voting shares (10% of public float); program runs Sep 12 2025 – Sep 11 2026.

Notable Quotes

“The Alithya team has once again demonstrated the power of our model… double‑digit, year‑over‑year growth in our margins and our revenues.” — Paul Raymond, President & CEO

All amounts are presented in Canadian dollars unless otherwise noted.