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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 inc. (TSX: ALYA) has announced its status as a Systems Integrator for Talend solutions, enhancing its data management offerings. This partnership allows Alithya to provide advanced data integration and governance solutions through Talend's Data Fabric platform. Alithya aims to expand its expertise in cloud migrations and multi-cloud solutions, backed by a team trained in Talend's technology. Being the most certified firm in Quebec positions Alithya for future projects and strengthens its competitive edge.
Alithya Group's Q3 2022 results show remarkable growth with revenues up 55.4% to $109.7 million, driven by strong performance across all geographies. Adjusted EBITDA increased by 97.0% to $4.5 million, with a net loss reduced to $3.5 million. The company's gross margin rose to $28.3 million, although as a percentage of revenue decreased to 25.8%. Q3 bookings reached $125.2 million, indicating a robust book-to-bill ratio of 1.14. Alithya remains optimistic about future growth, aiming for $600 million in revenue by the end of its three-year strategic plan.
Alithya Group (NASDAQ: ALYA) announced the successful implementation of Oracle Cloud ERP and HCM for NorthBay Healthcare on February 7, 2022. This integration aims to streamline core financials, supply chain, and human resource management systems. NorthBay Healthcare's CIO emphasized improvements in efficiency and productivity through automation. Alithya, a leader in digital transformation, has been a long-standing Oracle partner, showcasing its strength in providing technology solutions for the healthcare sector.
On February 1, 2022, G2 Capital Advisors announced its role as the exclusive financial advisor for Vitalyst in its sale to Alithya Group (NASDAQ: ALYA). Vitalyst, a technology services provider and Microsoft Gold Partner, supports over 400 clients globally. The acquisition aims to enhance Vitalyst's capacity for growth and customer satisfaction through Alithya's resources. This transaction highlights G2's strategy of aligning with market leaders within specialized industry sectors.
Alithya Group (TSX: ALYA) has acquired Vitalyst, LLC for up to US$50.2 million. Vitalyst, a Microsoft Gold Partner, enhances Alithya's digital adoption and change management capabilities, featuring its proprietary Adaptive Learning™ platform. The acquisition is expected to drive growth by tapping into the US$50 billion North American Learning and Development market, leveraging Vitalyst's strong Fortune 1000 client base. Alithya’s upfront cost is US$49.2 million plus a potential US$1 million earn-out. The deal aims to create high-margin, recurring revenue streams.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) will announce its third quarter fiscal 2022 financial results on February 10, 2022. The results will cover the period ending December 31, 2021. A conference call for investors is scheduled for 9:00 a.m. Eastern Time, followed by a Q&A session. Financial statements and related documents will be available on Alithya's Investors page. The company is recognized for its expertise in digital transformation, employing 3,400 professionals across North America and Europe.
Alithya Group (TSX: ALYA) announces the launch of Alithya GoTest, a new test automation software designed for rapid test development using keywords. Developed by Alithya's experts, it performs various functional tests across software environments and enhances user experience. Market Research Future projects the quality assurance software market to reach USD 14 billion by 2025, growing at 9.6% CAGR. Senior leaders express confidence in GoTest's ability to meet regulatory compliance needs, particularly for telecommunications and insurance sectors.
Alithya Group (NASDAQ: ALYA) continues its partnership with Balchem Corporation (NASDAQ: BCPC) to implement Microsoft Dynamics 365 across multiple global locations. This initiative, ongoing since 2017, aims to consolidate Balchem's operations and enhance financial visibility. The implementation spans over 20 plants in four countries, transitioning from multiple ERP systems. Balchem, a leader in nutrition and health solutions, emphasizes the importance of this digital transformation for supporting growth and operational efficiency.
Alithya Group (TSX: ALYA) reported a remarkable 54% revenue growth in Q2 2022, reaching $105.3 million, compared to $68.4 million in the same period last year. Adjusted EBITDA soared by 511.2% to $5.0 million. Gross margin increased by 52% to $28.5 million, though as a percentage of revenue it slightly declined to 27%. The net loss improved to $2.8 million from $5.5 million. Strong bookings of $90.9 million indicate a solid outlook and integration of R3D Consulting is progressing well.
Alithya Group (TSX: ALYA, NASDAQ: ALYA) will announce its financial results for the second quarter of fiscal 2022, ending September 30, 2021, on November 11, 2021. The company will host a conference call at 8:00 a.m. ET, featuring a question and answer session for the financial community. Financial statements, MD&A, and a presentation will be accessible on Alithya's Investors page.
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