Alithya reports continued strong growth in both revenues &performance.

MONTREAL: Alithya Group inc. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya" or the "Company") reported today its results for the second quarter fiscal 2023 ended September 30, 2022. 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)

F2023-Q2

F2022-Q2

Revenues

128,933

105,277

Gross Margin

37,760

28,473

Gross Margin (%)

29.3 %

27.0 %

Selling, general and administrative expenses

30,421

24,885

Selling, general and administrative expenses (%)(1)

23.6 %

23.6 %

Adjusted EBITDA(2)

9,440

5,035

Adjusted EBITDA Margin (%)(2)

7.3 %

4.8 %

Net loss

(435)

(2,777)

(1)

This earnings release incorporates by reference section 5, "Non-IFRS and Other Financial Measures", of Alithya's MD&A for the quarter ended September 30, 2022, filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, which includes explanations of the composition and usefulness of these other financial measures.

(2)

These are non-IFRS financial measures or ratios without a standardized definition under IFRS, which may not be comparable to similar measures or ratios used by other issuers. Definition and quantitative reconciliation of Adjusted EBITDA to the most directly comparable IFRS measure is 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. This earnings release incorporates by reference section 5, "Non-IFRS and Other Financial Measures", of Alithya's MD&A for the quarter ended September 30, 2022, filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, which includes explanations of the composition and usefulness of these non-IFRS financial measures and non-IFRS ratios.

Quote by Paul Raymond, President and CEO, Alithya:

"In a seasonally slower quarter, the Alithya team delivered another record performance with improvements in all our key indicators. We realized global Adjusted EBITDA growth of 87%, and revenue growth of 23% for Q2 F2023, compared to the same quarter last year.

Our efficiency initiatives and the ongoing integration of our latest acquisitions are also showing a positive impact on our gross margins. We are creating value for our clients by leveraging all our assets across our platform.

Our robust performance is a testament to the continued health of our client relationships and our pipeline of projects. Despite the current global economic uncertainties, most of our clients, many of which deliver essential services, remain committed to accelerating their digital transformation projects. Our results also reflect the performance of our people as we continue to leverage the growth of our global delivery teams to meet all our client's project...