Alithya reports another quarter of strong revenue growth for Q1 fiscal 2023

Q1-2023 Highlights

• Revenues increased 23.2% to $126.8 million, compared to $102.9 million for the same quarter last year.
• Adjusted EBITDA⁽¹⁾ amounted to $6.2 million, or 4.9% of revenues, compared to $7.0 million, including the forgiveness of $5.9 million in Paycheck Protection Program (“PPP”) loans, or 6.8% of revenues, for the same quarter last year.
• Gross margin increased 20.2% to $34.1 million, compared to $28.3 million for the same quarter last year.
• Gross margin as a percentage of revenues⁽²⁾ was 26.9%, compared to 27.5% for the same quarter last year. Excluding the impact of the forgiveness of the $4.6 million in PPP loans recorded to cost of revenues in the first quarter of last year, gross margin as a percentage of revenues⁽¹⁾ would have amounted to 23.1% for the three months ended June 30, 2021. On a sequential basis, gross margin as a percentage of revenues increased…