Q2-2024 Highlights
- Revenues decreased 8.1% to $118.5
million, compared to $128.9
million for the same quarter last year.
- 84% of revenues were generated from clients which we had in the
same quarter last year.
- Gross margin decreased 7.9% to $34.8
million, compared to $37.8
million for the same quarter last year.
- Gross margin as a percentage of revenues(1)
increased to 29.4%, compared to 29.3% for the same quarter last
year, despite recording a $1.1M
provision, on tax credit receivable, of previous periods.
- Adjusted EBITDA(2) decreased 31.6% to $6.5 million, or 5.4% of revenues, compared to
$9.4 million, or 7.3% of revenues,
for the same quarter last year.
- Net loss was $9.2 million, or
$0.10 per share, compared to a net
loss of $0.4 million, or $0.00 on a per share basis, for the same quarter
last year.
- Adjusted Net Loss(2) amounted to $0.2 million representing an increase of
$3.6 million, from $3.4 million of Adjusted Net Earnings for the
same quarter last year. This translated into Adjusted Net Loss per
Share of $0.00, compared to
$0.04, of Adjusted Net Earnings per
Share for the same quarter last year.
- Net cash used in operating activities was $17.3 million, representing an increase of
$16.7 million, from $0.7 million of cash used in operating activities
for the same quarter last year.
- Q2 Bookings(1) reached $109.7
million, which translated into a Book-to-Bill
Ratio(1) of 0.93 for the quarter. The Book-to-Bill Ratio
is 1.08 when revenues from the two long-term contracts signed as
part of an acquisition in the first quarter of fiscal year 2022 are
excluded.
- Backlog(1) represented approximately 16 months of
trailing twelve-month revenues as at
September 30, 2023.
- Signed 36 new clients.
MONTREAL, Nov. 14,
2023 /CNW/ - Alithya Group inc. (TSX: ALYA)
(NASDAQ: ALYA) ("Alithya" or the "Company") reported today its
results for the second quarter fiscal 2024 ended September 30,
2023. All amounts are in Canadian dollars unless otherwise
stated.
Summary of the financial results
for the second quarter:
Financial
Highlights
(in thousands of $,
except for margin percentages)
|
F2024-Q2
|
F2023-Q2
|
Revenues
|
118,492
|
128,933
|
Gross Margin
|
34,791
|
37,760
|
Gross Margin
(%)
|
29.4 %
|
29.3 %
|
Selling, general and
administrative expenses
|
29,930
|
30,421
|
Selling, general and
administrative expenses (%)(1)
|
25.3 %
|
23.6 %
|
Adjusted
EBITDA(2)
|
6,456
|
9,440
|
Adjusted EBITDA Margin
(%)(2)
|
5.4 %
|
7.3 %
|
Net Loss
|
(9,176)
|
(435)
|
Basic and Diluted Loss
per Share
|
(0.10)
|
0.00
|
Adjusted Net (Loss)
Earnings(2)
|
(233)
|
3,393
|
Adjusted Net (Loss)
Earnings per Share(2)
|
0.00
|
0.04
|
(1)
|
These are other
financial measures without a standardized definition under IFRS,
which may not be comparable to similar measures used by other
issuers. See "Non-IFRS and Other Financial Measures"
below.
|
(2)
|
These are non-IFRS
financial measures without a standardized definition under IFRS,
which may not be comparable to similar measures used by other
issuers. More information and quantitative reconciliations of
Adjusted Net (Loss) Earnings and Adjusted EBITDA to the most
directly comparable IFRS measures are presented below under the
caption "Non-IFRS and Other Financial Measures". "Adjusted EBITDA
Margin" refers to the percentage of total revenue that Adjusted
EBITDA represents for a given period.
|
Quote by Paul Raymond, President and
CEO, Alithya:
"Our second quarter fiscal 2024 results reflect progress on
gross margin performance and a continued focus on reducing selling,
general, and administrative spending, both sequentially and year
over year. Those achievements are largely attributable to a number
of past initiatives that continue to bear fruit, including greater
efficiency in project management, reducing our reliance on
subcontractors, and continued focus on growth in our higher margin
segments.
We remain optimistic about the quarters ahead, despite lower
revenues due to weaker conditions in our Canadian banking sector
client base and start-up delays on certain client projects. Our
second quarter also encompasses historically slower summer months
but our continued strong bookings and growing sales funnel are
encouraging. In line with our strong focus on cross-selling
opportunities, we added 36 new clients in Q2.
For a quarter showing lower sequential revenues, our
performance, both in terms of gross margin improvement and selling,
general, and administrative expenses reduction, puts Alithya in a
good position to increase profitability once the current economic
cycle turns positive."
Second Quarter Results
Revenues
Revenues amounted to $118.5
million for the three months ended
September 30, 2023, representing a decrease of
$10.4 million, or 8.1%, from
$128.9 million for the three months
ended September 30, 2022.
Revenues in Canada decreased by
$7.1 million, or 9.5%, to
$68.0 million for the three months
ended September 30, 2023, from $75.1 million for the three months ended
September 30, 2022. The decrease in revenues was
principally due to a reduction in information technology
investments in the banking sector and one less billable day than in
the same quarter last year, partially offset by increases in other
areas of the business.
U.S. revenues decreased by $2.9
million, or 5.9%, to $45.7
million for the three months ended
September 30, 2023, from $48.6
million for the three months ended
September 30, 2022, due primarily to weaker conditions in
certain areas of the information technology services sector,
notably in digital skilling and change enablement services, some
slower project starts and one less billable day than in the same
quarter last year. The decreased revenues were partially offset by
a favorable US$ exchange rate impact of $1.3 million between the two periods.
International revenues decreased by $0.4
million, or 8.3%, to $4.8
million for the three months ended
September 30, 2023, from $5.2
million for the three months ended
September 30, 2022, mainly due to reduced activities in
Australia, partially offset by a
favorable foreign exchange rate impact of $0.5 million between the two periods.
Gross Margin
Gross margin decreased by $3.0
million, or 7.9%, to $34.8
million for the three months ended
September 30, 2023, from $37.8
million for the three months ended
September 30, 2022. Gross margin as a percentage of
revenues increased to 29.4% for the three months ended
September 30, 2023, from 29.3% for the three months ended
September 30, 2022. During the three months ended
September 30, 2023, a $1.1 million provision, on tax credits receivable
of previous periods, with a notable portion related to the
activities of a previously acquired business, was recorded due to
recoverability uncertainty. Excluding this provision relating to
previous periods, gross margin as a percentage of revenues would
have increased by 0.9% compared to the same quarter last year to
30.3%. On a sequential basis, gross margin as a percentage of
revenues increased, compared to 28.9% for the first quarter of this
year, despite a sequential decrease in revenues naturally putting
pressure on gross margin performance.
In Canada, gross margin as a
percentage of revenues increased, compared to the same quarter last
year, mainly due to higher margin offerings and a proportionally
larger decrease in the number of subcontractors compared to
permanent employees, partially offset by the aforementioned
$1.1 million provision on tax credits
receivable related to previous periods. Gross margin as a
percentage of revenues also increased on a sequential basis.
In the U.S., gross margin as a percentage of revenues remained
steady, compared to the same quarter last year, as a result of a
positive margin impact from Datum's U.S. business and higher margin
offerings.
International gross margin as a percentage of revenues decreased
compared to the same quarter last year, as certain projects have
slower starts and the negative impact of the foreign exchange
between the two periods.
Selling, General and Administrative Expenses
Selling, general and administrative expenses totaled $29.9
million for the three months ended September 30, 2023,
representing a decrease of $0.5
million, or 1.6%, from $30.4 million for the three
months ended September 30, 2022, driven mostly by a
$1.3 million decrease in variable
compensation, a $0.5 million decrease
in non-cash share-based compensation, and $0.3 million decrease in recruiting fees,
partially offset by a $0.5 million
increase in professional fees, $0.5
million increase in business development costs, $0.3 million increase in travel expenses, and
$0.4 million increase related to
specific discretionary internal projects. On a sequential basis,
selling, general and administrative expenses decreased by
$2.6 million compared to $32.5 million, for the first quarter, driven
mainly by the impairment of property and equipment and
right-of-use-assets recorded in the first quarter and reduction in
employee compensation costs and other expense categories.
Adjusted EBITDA
Adjusted EBITDA amounted to $6.5
million for the three months ended
September 30, 2023, representing a decrease of
$2.9 million, or 31.6%, from
$9.4 million for the three months
ended September 30, 2022. As explained above, decreased
revenues and gross margin, including a $1.1
million provision on tax credits receivable related to
previous periods, partially offset by decreased selling, general
and administrative expenses. Adjusted EBITDA Margin was 5.4% for
the three months ended September 30, 2023, compared to
7.3% for the three months ended September 30, 2022.
Net Loss
Net loss for the three months ended September 30, 2023
was $9.2 million representing an
increase of $8.8 million, from
$0.4 million for the three months
ended September 30, 2022. The increased loss was driven
by decreased gross margin, which was impacted by a $1.1 million provision, on tax credits receivable
of previous periods, with a notable portion related to the
activities of a previously acquired business, increased net
financial expenses, and decreased income tax recovery due primarily
to a deferred tax asset recognized pursuant to the Datum
Acquisition in the same quarter last year, partially offset by
decreased selling, general and administrative expenses, decreased
business acquisition, integration and reorganization costs, and
decreased depreciation and amortization in the three months ended
September 30, 2023, compared to the three months ended
September 30, 2022. On a per share basis, this translated
into a basic and diluted net loss per share of $0.10 for the three months ended
September 30, 2023, compared to a net loss of
$0.00 on a per share basis for the
three months ended September 30, 2022.
Adjusted Net (Loss) Earnings
Adjusted Net Loss amounted to $0.2
million for the three months ended
September 30, 2023 representing an increase of
$3.6 million, from $3.4 million of Adjusted Net Earnings for the
three months ended September 30, 2022. As explained
above, decreased income tax recovery, decreased gross margin,
including a $1.1 million provision,
on tax credits receivable of previous periods, with a notable
portion related to the activities of a previously acquired
business, and increased net financial expenses, were partially
offset by decreased selling, general and administrative expenses
and decreased depreciation of property and equipment and
right-of-use assets. This translated into Adjusted Net Loss per
Share of $0.00 for the three months
ended September 30, 2023, compared to $0.04 of Adjusted Net Earnings per Share for the
three months ended September 30, 2022.
Liquidity and Capital Resources
For the three months ended September 30, 2023, net
cash used in operating activities was $17.3 million,
representing an increase of $16.7
million, from $0.7 million of cash used in operating
activities for the three months ended September 30, 2022.
The cash flows for the three months ended
September 30, 2023 resulted primarily from the net loss
of $9.2 million, plus $12.8 million of non-cash adjustments to the
net loss, consisting primarily of depreciation and amortization,
net financial expenses, share-based compensation, deferred taxes
and unrealized foreign exchange loss, partially offset by
$20.9 million in unfavorable
changes in non-cash working capital items. In comparison, the cash
flows for the three months ended September 30, 2022
resulted primarily from the net loss of $0.4 million, plus
$6.1 million of non-cash
adjustments to the net loss, consisting primarily of depreciation
and amortization, net financial expenses, and share-based
compensation, partially offset by deferred taxes and unrealized
foreign exchange gain, and $6.3 million in unfavorable changes in
non-cash working capital items.
Unfavorable changes in non-cash working capital items of
$20.9 million during the three
months ended September 30, 2023 consisted primarily of a
$12.2 million decrease in accounts
payable and accrued liabilities, $6.2 million increase in accounts receivable
and other receivables, a $3.1 million
increase in unbilled revenues, a $1.0 million increase in tax credits
receivable, and a $0.6 million
increase in other assets, partially offset by a $1.5 million decrease in prepaids and a
$0.6 million increase in
deferred revenues. The accounts payable and accrued liabilities
decrease consisted primarily of decreases in employee compensation,
subcontractor cost and vacation accruals, related to timing of the
quarter-end relative to the last pay cycle of the quarter, and a
reduced headcount. The accounts receivable and other receivables
increase consisted primarily of an increase in DSO, largely timing
related. For the three months ended September 30, 2022,
unfavorable changes in non-cash working capital items of
$6.3 million consisted primarily of a
$5.7 million decrease in accounts
payable and accrued liabilities, a $1.5
million increase in tax credits receivable, and a
$0.4 million increase in
unbilled revenues, partially offset by a $0.6 million decrease in accounts receivable
and other receivables and a $0.6
million decrease in prepaids.
Six-Month Results
Revenues amounted to $250.1
million for the six months ended
September 30, 2023, representing a decrease of
$5.6 million, or 2.2%, from
$255.7 million for the six months
ended September 30, 2022. Gross margin increased by
$1.1 million, or 1.5%, to
$72.9 million for the six months
ended September 30, 2023, from $71.8 million for the six months ended
September 30, 2022. Gross margin as a percentage of
revenues increased to 29.1% for the six months ended
September 30, 2023, from 28.1% for the six months ended
September 30, 2022, despite annual salary increases which
came into effect in the first quarter of this year and the
$1.1 million provision on tax credits
receivable related to previous periods recorded in the current
quarter of this year. Adjusted EBITDA amounted to $15.5 million for the six months ended
September 30, 2023, representing a decrease of
$0.1 million, from $15.6 million for the six months ended
September 30, 2022. Net loss for the six months ended
September 30, 2023 was $16.4
million representing an increase of $11.8 million, from $4.6 million for the six months ended
September 30, 2022. On a per share basis, this translated
into a basic and diluted net loss per share of $0.17 for the six months ended
September 30, 2023, compared to a net loss of
$0.05 per share for the six months
ended September 30, 2022. Adjusted Net Earnings amounted
to $2.4 million for the six months
ended September 30, 2023 representing a decrease of
$3.7 million, or 60.3%, from
$6.1 million for the six months ended
September 30, 2022
Normal Course Issuer Bid Program ("NCIB")
On September 13, 2023, the Company's Board of Directors
authorized and subsequently the TSX approved the renewal of the
Company's normal course issuer bid ("NCIB"). Under the NCIB, the
Company is allowed to purchase for cancellation up to 2,411,570
Subordinate Voting Shares, representing 5% of the Company's public
float as of the close of markets on September 7, 2023.
The NCIB commenced on September 20, 2023 and will end on
the earlier of September 19, 2024 and the date on which the
Company will have acquired the maximum number of Subordinate Voting
Shares allowable under the NCIB or will otherwise have decided not
to make any further purchases. All purchases of Subordinate Voting
Shares are made by means of open market transactions at their
market price at the time of acquisition.
Concurrently, the Company entered into an automatic share
purchase plan ("ASPP") with a designated broker in connection with
its NCIB. The ASPP allows for the designated broker to purchase for
cancellation Subordinate Voting Shares, on behalf of the Company,
subject to certain trading parameters established, from time to
time, by the Company.
Outlook
Notwithstanding the ongoing global uncertainties, the Company
maintains focus on its long-term strategic plan, which sets as a
goal to consolidate its position to become a trusted leader in
digital transformation.
According to this plan, Alithya's consolidated scale and scope
should allow it to leverage its geographies, expertise, integrated
offerings and position on the value chain to target the fastest
growing IT services segments. Alithya's specialization in digital
technologies and the flexibility to deploy enterprise solutions and
deliver solutions tailored to specific business objectives responds
directly to client expectations. More specifically, Alithya has
established a three-pronged plan focusing on:
- Increasing scale through organic growth and complementary
acquisitions;
- Achieving best-in-class employee engagement;
- Providing its investors, partners and stakeholders with
long-term growing return on investment.
Forward-Looking
Statements
This press release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities laws and "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and other applicable U.S. safe harbours (collectively
"forward-looking statements"). Statements that do not exclusively
relate to historical facts, as well as statements relating to
management's expectations regarding the future growth, results of
operations, performance and business prospects of Alithya, and
other information related to Alithya's business strategy and future
plans or which refer to the characterizations of future events or
circumstances represent forward-looking statements. Such statements
often contain the words "anticipates," "expects," "intends,"
"plans," "predicts," "believes," "seeks," "estimates," "could,"
"would," "will," "may," "can," "continue," "potential," "should,"
"project," "target," and similar expressions and variations
thereof, although not all forward-looking statements contain these
identifying words.
Forward-looking statements in this press release include, among
other things, information or statements about: (i) our ability to
generate sufficient earnings to support our operations; (ii) our
ability to take advantage of business opportunities and meet our
goals set in our three-year strategic plan; (iii) our ability to
maintain and develop our business, including by broadening the
scope of our service offerings, entering into new contracts and
penetrating new markets; (iv) our strategy, future operations, and
prospects, including our expectations regarding future revenue
resulting from bookings and backlog; (v) our ability to service our
debt, renew our credit facility and raise additional capital and;
(vi) our estimates regarding our financial performance, including
our revenues, profitability, research and development, costs and
expenses, gross margins, liquidity, capital resources, and capital
expenditures; (vii) our ability to realize the expected synergies
or cost savings relating to the integration of our business
acquisitions, and (viii) the potential return to pre-COVID-19
pandemic operations.
Forward-looking statements are presented for the sole purpose of
assisting investors and others in understanding Alithya's
objectives, strategies and business outlook as well as its
anticipated operating environment and may not be appropriate for
other purposes. Although management believes the expectations
reflected in Alithya's forward-looking statements were reasonable
as at the date they were made, forward-looking statements are based
on the opinions, assumptions and estimates of management and, as
such, are subject to a variety of risks and uncertainties and other
factors, many of which are beyond Alithya's control, and which
could cause actual events or results to differ materially from
those expressed or implied in such statements. Such risks and
uncertainties include but are not limited to those discussed in the
section titled "Risks and Uncertainties" of Alithya's Management
Discussion and Analysis for the year ended March 31, 2023, as well as in Alithya's other
materials made public, including documents filed with Canadian and
U.S. securities regulatory authorities from time to time and which
are available on SEDAR+ at www.sedarplus.com and EDGAR at
www.sec.gov. Additional risks and uncertainties not currently known
to Alithya or that Alithya currently deems to be immaterial could
also have a material adverse effect on its financial position,
financial performance, cash flows, business or reputation.
Forward-looking statements contained in this press release are
qualified by these cautionary statements and are made only as of
the date of this press release. Alithya expressly disclaims any
obligation to update or alter any forward-looking statements, or
the factors or assumptions underlying them, whether as a result of
new information, future events or otherwise, except as required by
applicable law. Investors are cautioned not to place undue reliance
on forward-looking statements since actual results may vary
materially from them.
Non-IFRS and Other Financial
Measures
This press release includes certain measures which have not been
prepared in accordance with IFRS and other financial measures.
Adjusted Net (Loss) Earnings, Adjusted Net (Loss) Earnings per
Share, EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA
Margin, are non-IFRS measures and Bookings, Book-to-Bill Ratio,
Backlog, DSO, Gross Margin as a Percentage of Revenues and Selling,
General and Administrative as a Percentage of Revenues are other
financial measures used in this press release. These measures are
provided as additional information to complement IFRS measures by
providing further understanding of our results of operations from
our perspective. They do not have any standardized meaning
prescribed by IFRS and are therefore unlikely to be comparable to
similar measures presented by other companies. They should be
considered as supplemental in nature and not as a substitute for
the related financial information prepared in accordance with IFRS.
They are used to provide investors with additional insight of our
operating performance and thus highlight trends in Alithya's
business that may not otherwise be apparent when relying solely on
IFRS measures. Additional details for these non-IFRS and other
financial measures can be found in section 5,"Non-IFRS and
Other Financial Measures", of Alithya's MD&A for the quarter
ended September 30, 2023, filed on
SEDAR+ at www.sedarplus.com and EDGAR at www.sec.gov, and are
incorporated by reference in this press release, which includes
explanations of the composition and usefulness of these non IFRS
financial measures and non IFRS ratios.
The following table reconciles net loss to Adjusted Net (Loss)
Earnings:
|
|
For the three months
ended
September
30,
|
|
For the six months
ended
September
30,
|
(in $
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
$
|
|
$
|
|
$
|
|
$
|
Net
loss
|
|
(9,176)
|
|
(435)
|
|
(16,421)
|
|
(4,599)
|
Business acquisition,
integration and
reorganization costs
|
|
2,663
|
|
2,741
|
|
3,768
|
|
4,623
|
Amortization of
intangibles
|
|
6,177
|
|
6,708
|
|
13,001
|
|
11,407
|
Share-based
compensation
|
|
1,595
|
|
2,101
|
|
3,673
|
|
3,162
|
Impairment of property
and equipment and right-
of-use assets
|
|
—
|
|
—
|
|
1,383
|
|
—
|
Income tax related to
deferred tax asset
recognized on purchase price allocation
|
|
—
|
|
(6,026)
|
|
—
|
|
(6,026)
|
Effect of income tax
related to above items
|
|
(1,492)
|
|
(1,696)
|
|
(2,979)
|
|
(2,455)
|
Adjusted Net (Loss)
Earnings (1)(2)
|
|
(233)
|
|
3,393
|
|
2,425
|
|
6,112
|
Basic and diluted loss
per share
|
|
(0.10)
|
|
0.00
|
|
(0.17)
|
|
(0.05)
|
Adjusted Net (Loss)
Earnings per Share (1)(2)
|
|
0.00
|
|
0.04
|
|
0.03
|
|
0.07
|
|
|
|
|
|
|
|
|
|
(1) Non-IFRS measure. See section 5
titled "Non-IFRS and Other Financial Measures" of Alithya's
MD&A for the quarter ended September 30, 2023, filed on SEDAR+
at www.sedarplus.com and on EDGAR at www.sec.gov.
|
(2) Figures for the six months ended
September 30, 2023, reflect adjustments, related to the three
months ended June 30, 2023, for certain changes to the calculations
and assumptions.
|
The following table reconciles net loss to EBITDA and Adjusted
EBITDA:
|
|
For the three months
ended
September
30,
|
|
For the six months
ended
September
30,
|
(in $
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
$
|
|
$
|
|
$
|
|
$
|
Revenues
|
|
118,492
|
|
128,933
|
|
250,087
|
|
255,697
|
Net
loss
|
|
(9,176)
|
|
(435)
|
|
(16,421)
|
|
(4,599)
|
Net financial
expenses
|
|
3,073
|
|
2,301
|
|
6,293
|
|
4,094
|
Income tax expense
(recovery)
|
|
514
|
|
(5,642)
|
|
664
|
|
(6,130)
|
Depreciation
|
|
1,498
|
|
1,602
|
|
3,166
|
|
3,181
|
Amortization of
intangibles
|
|
6,177
|
|
6,708
|
|
13,001
|
|
11,407
|
EBITDA
(1)
|
|
2,086
|
|
4,534
|
|
6,703
|
|
7,953
|
EBITDA Margin
(1)
|
|
1.8 %
|
|
3.5 %
|
|
2.7 %
|
|
3.1 %
|
Adjusted
for:
|
|
|
|
|
|
|
|
|
Foreign exchange loss
(gain)
|
|
112
|
|
64
|
|
(16)
|
|
(100)
|
Share-based
compensation
|
|
1,595
|
|
2,101
|
|
3,673
|
|
3,162
|
Business acquisition,
integration and
reorganization costs
|
|
2,663
|
|
2,741
|
|
3,768
|
|
4,623
|
Impairment of property
and equipment and right-
of-use assets
|
|
—
|
|
—
|
|
1,383
|
|
—
|
Adjusted EBITDA
(1)
|
|
6,456
|
|
9,440
|
|
15,511
|
|
15,638
|
Adjusted EBITDA Margin
(1)
|
|
5.4 %
|
|
7.3 %
|
|
6.2 %
|
|
6.1 %
|
|
|
|
|
|
|
|
|
|
(1) Non-IFRS measure. See section 5
titled "Non-IFRS and Other Financial Measures" of Alithya's
MD&A for the quarter ended September 30, 2023, filed on SEDAR+
at www.sedarplus.com and on EDGAR at www.sec.gov.
|
Conference Call
Alithya will hold a conference call to discuss these results on
November 14, 2023, at 9:00 AM Eastern Time. Interested parties can join
the call by dialing (+1) 888 396 8049, conference ID 04097325, or
via webcast at https://www.icastpro.ca/wf7bzg. The conference call
recording can be accessed via the same URL link until December 14, 2023.
About Alithya
Empowered by the passion and enthusiasm of a talented global
workforce, Alithya is positioned on the crest of the digital wave
as a trusted advisor in strategy and digital technology services.
Transforming the world one digital step at a time, Alithya
leverages collective intelligence and expertise to develop
practical IT solutions tailored to complex business challenges. As
shared stewards of its clients' success, Alithya accompanies them
through the full cycle of their digital evolutions, paving new
roads to the future of their businesses.
Living up to its name, meaning truth, Alithya embraces a
business model that avoids industry buzzwords and technical jargon
to deliver straight talk provided by collaborative teams focused on
five main pillars: business strategy, business applications
implementation, application services, data and analytics, and
digital skilling and change enablement.
With two gender parity certifications obtained in Canada and the
United States, and in pursuit of indigenous relations and
carbon neutral certifications, Alithya strives to balance its
desire to do the right thing with its commitment to doing things
right.
Note to readers: Management's Discussion and Analysis and
the interim consolidated financial statements and notes for the
three and six months ended September 30,
2023 are available on are available on SEDAR+ at
www.sedarplus.com, on EDGAR at www.sec.gov and on the Company's
website at www.alithya.com. Shareholders may, upon request, receive
a hard copy of these documents free of charge.
View original
content:https://www.prnewswire.com/news-releases/alithya-reports-second-quarter-fiscal-2024-results-301987171.html
SOURCE Alithya