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Alithya Group Inc. (TSX: ALYA, NASDAQ: ALYA) is a rapidly evolving consultancy specializing in information technologies and organizational management services. Serving clients across North America and Europe, Alithya was founded through the merger of two leaders in Québec’s IT industry: CIA and Sinapse. This merger has enabled Alithya to provide end-to-end strategic solutions and initiatives to a wide array of clients.
Alithya's core competencies include business strategy, business applications implementation, application services, data and analytics, and digital skilling and change enablement. The company places a significant emphasis on values like respect, trust, honesty, transparency, and fun, fostering a forward-thinking and people-oriented culture. Alithya's commitment to innovation and ethical solutions drives them to create tailored IT solutions that meet complex business challenges.
Among its recent achievements, Alithya announced the renewal of its Normal Course Issuer Bid (NCIB) program to repurchase Class A shares, underscoring its commitment to enhancing shareholder value. The company also held a successful annual general meeting, wherein all proposed directors were elected. Additionally, Alithya opened a new office in Austin, Texas, reinforcing its presence in a key technology hub.
Financially, Alithya experienced a slight decrease in revenues in Q2-2024, attributed mainly to weaker market conditions and project delays. Despite this, the company maintains a positive outlook, driven by its strategic initiatives and continued strong bookings. Alithya's participation in significant industry events, such as Oracle CloudWorld 2023, and securing the Microsoft Business Applications Inner Circle award for the 18th year, highlight its industry leadership and commitment to excellence.
Moreover, the company has enhanced its financial flexibility by increasing its revolving credit facility to CAD 140 million. Alithya recently announced its voluntary delisting from Nasdaq to consolidate its listing on the TSX, aiming to optimize resources and focus on long-term strategic goals.
Alithya continues to lead in digital transformation, leveraging its skilled global workforce to deliver practical and innovative IT solutions. The company's dedication to gender parity and sustainable practices further strengthens its position as a responsible and forward-looking entity in the technology sector.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) announced its participation in DATAVORE, Montreal's leading analytics event, taking place on April 12-13, 2023. The event, hosted by Réseau Action TI, focuses on data management, artificial intelligence, and industry networking. On April 13, Alithya, alongside its client Le Panier Bleu, will present a session titled "Le Panier Bleu et Alithya: Des données pertinentes au service des consommateurs québécois" at 9:30 a.m. ET, highlighting the importance of effective data management for informed business decisions. Alithya is aiding Le Panier Bleu in optimizing its digital strategy to enhance e-commerce capabilities and personalized services for local consumers. The company's mission encompasses accelerating growth through strategic planning and digital transformation.
On March 15, 2023, Alithya Group (TSX: ALYA, NASDAQ: ALYA) announced the successful completion of eight Oracle Cloud Capital Portfolio Planning (CPP) projects. These implementations span various sectors, including manufacturing, transportation, and healthcare, and are designed to enhance financial planning processes. Alithya's CPP solution streamlines the capital lifecycle from investment ideation to budget management, improving speed and reducing project risk. The company emphasizes its expertise in Oracle technology, which enables clients to efficiently manage significant capital projects.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) has signed a significant contract to implement Microsoft Dynamics 365 solutions for Cloverdale Paint Inc. and Rodda Paint Co., enhancing operational efficiency. This project encompasses a wide range of functionalities, including sales cycle optimization, manufacturing controls, and improved financial visibility. The partnership aims to support the companies in their digital transformation, leveraging Alithya's extensive experience in the chemical industry. As North America's largest family-owned paint coatings firm, the collaboration will standardize processes and drive growth in the market.
Alithya Group reported a 19.2% revenue increase to $130.8 million for Q3 2023, driven by acquisitions and organic growth. Gross margin rose 38.8% to $39.2 million, with a gross margin percentage of 30.0%. Adjusted EBITDA surged 122.0% to $10.0 million, while net loss widened to $5.5 million, or $0.06 per share. The company reduced long-term debt by 21.9%. Significant bookings of $136.6 million maintained a book-to-bill ratio of 1.04. Notably, U.S. revenues increased by 47.9%, attributed to acquisitions and favorable exchange rates. Alithya aims to consolidate its leadership in digital transformation amidst global uncertainties.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) will present its financial results for the third quarter of fiscal 2023, ending December 31, 2022, on February 14, 2023. A conference call for the financial community is scheduled for 9:00 a.m. Eastern time.
Investors can access the financial statements and related documents on Alithya's investor page. The company aims for strategic growth through organic expansion and acquisitions, focusing on business strategies, cloud solutions, application services, and data analytics.
Alithya Group has announced the appointment of Bernard Dockrill as the new Chief Operating Officer, effective January 30, 2023. This change follows the retirement of current COO Claude Rousseau, who has served for over eight years and will remain as a special advisor until March 31, 2023. Dockrill brings over three decades of leadership experience in various sectors, aiming to enhance Alithya's operational growth strategy. The transition aligns with the company's plans for accelerated organic growth and acquisition.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) has announced a partnership with Zscaler to enhance its cyber security solutions. The collaboration allows Alithya to leverage Zscaler's cloud-native Zero Trust Exchange platform, which aims to protect clients against cyber threats while accelerating their digital transformation. Zscaler's services are already adopted by 25% of Fortune 2000 companies and are current solutions for Alithya's major clients in the financial services sector. This partnership aligns with Alithya's strategy to offer comprehensive and integrated IT security solutions.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) reported a record Q2 2023 with revenues of $128.9 million, a 22.5% increase from last year. Gross margin rose 32.6% to $37.8 million, with a margin percentage of 29.3%. Adjusted EBITDA surged 87.5% to $9.4 million, representing 7.3% of revenues. Net loss decreased to $0.4 million from $2.8 million. Bookings reached $119.3 million, reflecting a book-to-bill ratio of 0.93. The company successfully integrated acquisitions, enhancing its service offerings and client relationships.
Alithya Group inc. (TSX: ALYA) announced its participation in the 2022 AACRAO Strategic Enrollment Management Conference in Toronto from November 13-16, 2022. The conference aims to enhance student success through improved enrollment strategies. During the event, Alithya and Frequency Foundry will present on transitioning from independent CRM systems to an institutional CRM, highlighting the importance of a digital experience for students. Key insights will focus on creating a SEM ecosystem that addresses student expectations and streamlines data processes.
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