Cover
Cover - shares | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Entity Addresses [Line Items] | ||
Document Type | 40-F | |
Document Registration Statement | false | |
Document Annual Report | true | |
Current Fiscal Year End Date | --03-31 | |
Document Period End Date | Mar. 31, 2022 | |
Entity File Number | 001-38705 | |
Entity Registrant Name | ALITHYA GROUP INC. | |
Entity Incorporation, State or Country Code | A8 | |
Entity Address, Address Line One | 1100, Robert-Bourassa Boulevard, Suite 400 | |
Entity Address, City or Town | Montréal, Québec | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | H3B 3A5 | |
City Area Code | +1 (514) | |
Local Phone Number | 285-5552 | |
Title of 12(b) Security | Class A subordinate voting shares | |
Trading Symbol | ALYA | |
Security Exchange Name | NASDAQ | |
Annual Information Form | true | |
Audited Annual Financial Statements | true | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
ICFR Auditor Attestation Flag | false | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | FY | |
Entity Central Index Key | 0001734520 | |
Auditor Name | KPMG LLP | Raymond Chabot Grant Thornton LLP |
Auditor Location | Montréal, Canada | Montréal, Canada |
Auditor Firm ID | 85 | 1232 |
Business Contact | ||
Entity Addresses [Line Items] | ||
Entity Address, Address Line One | 28, Liberty Street | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 10005 | |
City Area Code | +1 (212) | |
Local Phone Number | 590-9200 | |
Contact Personnel Name | CT Corporation System | |
Class A Shares | ||
Entity Addresses [Line Items] | ||
Entity Common Stock, Shares Outstanding | 85,554,000 | |
Class B Shares | ||
Entity Addresses [Line Items] | ||
Entity Common Stock, Shares Outstanding | 7,171,616 |
Consolidated Statements of Oper
Consolidated Statements of Operations - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Profit or loss [abstract] | ||
Revenues | $ 437,885 | $ 287,643 |
Cost of revenues | 321,732 | 204,626 |
Gross margin | 116,153 | 83,017 |
Operating expenses | ||
Selling, general and administrative expenses | 98,838 | 81,723 |
Business acquisition, integration and reorganization costs | 11,617 | 2,321 |
Depreciation | 5,435 | 3,767 |
Amortization of intangibles | 14,285 | 11,739 |
Foreign exchange loss (gain) | (26) | 473 |
Operating expense | 130,149 | 100,023 |
Operating loss | (13,996) | (17,006) |
Net financial expenses | 4,579 | 3,274 |
Gain on recovery of note receivable | 0 | (660) |
Profit (loss) before tax | (18,575) | (19,620) |
Income tax expense (recovery) | ||
Current tax relating to items credited (charged) directly to equity | (20) | 1,515 |
Deferred tax relating to items credited (charged) directly to equity | (3,007) | (3,797) |
Total tax expense (income) | (3,027) | (2,282) |
Net loss | (15,548) | (17,338) |
Cumulative translation adjustment on consolidation of foreign subsidiaries | (439) | (6,631) |
Other comprehensive income | (439) | (6,631) |
Total comprehensive loss | $ (15,987) | $ (23,969) |
Basic earnings (loss) per share (in CAD per share) | $ (0.18) | $ (0.30) |
Diluted earnings (loss) per share (in CAD per share) | $ (0.18) | $ (0.30) |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Current assets | ||
Cash | $ 17,655 | $ 6,903 |
Restricted cash | 3,254 | 0 |
Accounts receivable and other receivables | 100,867 | 69,363 |
Income taxes receivable | 0 | 642 |
Unbilled revenues | 17,272 | 9,924 |
Tax credits receivable | 8,515 | 4,936 |
Prepaids | 6,162 | 3,923 |
Total current assets | 153,725 | 95,691 |
Non-current assets | ||
Restricted cash | 0 | 3,233 |
Tax credits receivable | 11,873 | 7,809 |
Other assets | 1,303 | 0 |
Property and equipment | 10,412 | 8,449 |
Right-of-use assets | 15,146 | 11,118 |
Intangibles | 101,927 | 36,590 |
Deferred tax assets | 7,247 | 7,465 |
Goodwill | 146,088 | 72,906 |
Total assets | 447,721 | 243,261 |
Current liabilities | ||
Accounts payable and accrued liabilities | 89,660 | 51,571 |
Deferred revenues | 20,409 | 10,288 |
Current portion of lease liabilities | 3,510 | 1,923 |
Current portion of long-term debt | 19,316 | 35,134 |
Total current liabilities | 132,895 | 98,916 |
Non-current liabilities | ||
Long-term debt | 87,360 | 19,817 |
Lease liabilities | 17,753 | 13,536 |
Deferred tax liabilities | 9,962 | 2,980 |
Total liabilities | 247,970 | 135,249 |
Shareholders' equity | ||
Share capital | 305,222 | 197,537 |
Deficit | (111,654) | (96,190) |
Accumulated other comprehensive loss | (947) | (508) |
Contributed surplus | 7,130 | 7,173 |
Shareholders' equity | 199,751 | 108,012 |
Equity and liabilities | $ 447,721 | $ 243,261 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity | CAD ($)shares | Subordinate Voting Shares and Multiple Voting Sharesshares | Subordinate Voting SharesCAD ($)shares | Subordinate Voting SharesMatricis Informatique Inc.CAD ($)shares | Subordinate Voting SharesAlithya Travercent LLCshares | Subordinate Voting SharesAskida Inc.CAD ($)shares | Share CapitalCAD ($) | Share CapitalSubordinate Voting Shares and Multiple Voting SharesCAD ($) | Share CapitalSubordinate Voting SharesCAD ($)shares | DeficitCAD ($) | Accumulated Other Comprehensive Income (loss)CAD ($) | Contributed SurplusCAD ($) | Contributed SurplusSubordinate Voting SharesCAD ($) | Shares outstandingshares |
Balance (in shares) at Mar. 31, 2020 | shares | 58,073,517 | 50,904,533 | ||||||||||||
Balance at Mar. 31, 2020 | $ 127,369,000 | $ 195,335,000 | $ (78,780,000) | $ 6,123,000 | $ 4,691,000 | |||||||||
Profit (loss) | (17,338,000) | (17,338,000) | ||||||||||||
Other comprehensive loss | (6,631,000) | (6,631,000) | ||||||||||||
Comprehensive loss | (23,969,000) | (17,338,000) | (6,631,000) | |||||||||||
Share-based compensation | 1,537,000 | 1,537,000 | ||||||||||||
Share-based compensation granted on business acquisition | 4,051,000 | 4,051,000 | ||||||||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 157,882 | 300,189 | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 1,086,000 | |||||||||||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions (in shares) | shares | 458,071 | |||||||||||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 0 | 1,686,000 | $ 1,686,000 | (1,686,000) | ||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options (in shares) | shares | 156,132 | |||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 484,000 | |||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 300,000 | $ 14,000 | $ (184,000) | |||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 7,718 | 7,718 | ||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSUs | $ 32,000 | (32,000) | ||||||||||||
Share-based compensation granted on business acquisition | (1,276,000) | (72,000) | (1,204,000) | |||||||||||
Total contributions by, and distributions to, shareholders | $ (4,612,000) | (2,202,000) | (72,000) | (2,482,000) | ||||||||||
Total contributions by, and distributions to, shareholders (in shares) | shares | 621,921 | |||||||||||||
Balance at Mar. 31, 2021 | $ 108,012,000 | 197,537,000 | (96,190,000) | (508,000) | 7,173,000 | |||||||||
Balance (in shares) at Mar. 31, 2021 | shares | 58,695,438 | 51,373,822 | ||||||||||||
Profit (loss) | $ (15,548,000) | (15,548,000) | ||||||||||||
Other comprehensive loss | (439,000) | (439,000) | ||||||||||||
Comprehensive loss | (15,987,000) | (15,548,000) | (439,000) | |||||||||||
Share-based compensation | 1,792,000 | 1,792,000 | ||||||||||||
Share-based compensation granted on business acquisition | 1,524,000 | 1,524,000 | ||||||||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 157,882 | 376,250 | 300,192 | 25,182,676 | ||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | 80,585,000 | $ 600,000 | $ 1,086,000 | 80,585,000 | ||||||||||
Issuance of Subordinate Voting Shares for private placement (shares) | shares | 8,143,322 | |||||||||||||
Issuance of Subordinate Voting Shares for private placement | 24,686,000 | 24,686,000 | ||||||||||||
Shares repurchased for cancellation (shares) | shares | (349,400) | |||||||||||||
Shares purchased for cancellation | (1,160,000) | (1,244,000) | 84,000 | |||||||||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions (in shares) | shares | 834,324 | |||||||||||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 0 | 2,935,000 | (2,935,000) | |||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options (in shares) | shares | 155,382 | |||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 528,000 | |||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 299,000 | $ 10,000 | (229,000) | |||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 63,874 | 63,874 | ||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSUs | $ 195,000 | $ (195,000) | ||||||||||||
Share-based compensation granted on business acquisition | 0 | |||||||||||||
Total contributions by, and distributions to, shareholders | $ (107,726,000) | (107,685,000) | 84,000 | 43,000 | ||||||||||
Total contributions by, and distributions to, shareholders (in shares) | shares | 34,030,178 | |||||||||||||
Balance at Mar. 31, 2022 | $ 199,751,000 | $ 305,222,000 | $ (111,654,000) | $ (947,000) | $ 7,130,000 | |||||||||
Balance (in shares) at Mar. 31, 2022 | shares | 92,725,616 | 85,554,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of comprehensive income [abstract] | ||
Profit (loss) | $ (15,548) | $ (17,338) |
Items that may be classified subsequently to profit or loss | ||
Cumulative translation adjustment on consolidation of foreign subsidiaries | (439) | (6,631) |
Other comprehensive income | (439) | (6,631) |
Comprehensive loss | $ (15,987) | $ (23,969) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating activities | ||
Profit (loss) | $ (15,548) | $ (17,338) |
Items not affecting cash | ||
Depreciation and amortization | 19,720 | 15,506 |
Amortization of finance costs | 277 | 242 |
Share-based compensation | 3,316 | 5,588 |
Unrealized foreign exchange loss | 299 | 1,291 |
Foreign exchange gain on repayment of long-term debt | (250) | (879) |
Forgiveness of PPP loan | (5,868) | (1,898) |
Interest accretion on balances of purchase payable | 823 | 835 |
Loss on disposal of property and equipment | 0 | 218 |
Loss on disposal of intangibles | 262 | 0 |
Other | (533) | (138) |
Deferred taxes | (3,007) | (3,797) |
Changes in non-cash working capital items | (1,120) | (86) |
Adjustments to reconcile profit (loss) | 13,919 | 16,882 |
Net cash used in operating activities | (1,629) | (456) |
Investing activities | ||
Additions to property and equipment | (1,719) | (2,104) |
Additions to intangibles | (1,361) | (166) |
Restricted cash | (21) | (1,021) |
Share-based compensation granted on business acquisition | 0 | (1,276) |
Business acquisitions, net of cash acquired | (15,705) | 0 |
Right-of-use assets | (132) | 0 |
Net cash used in investing activities | (18,938) | (4,567) |
Financing activities | ||
Increase in long-term debt, net of related transaction costs | 156,768 | 53,471 |
Repayment of long-term debt | (146,509) | (49,867) |
Exercise of stock options | 299 | 300 |
Repayment of lease liabilities | (2,688) | (1,397) |
Share issuance, net of share issue costs | 24,686 | 0 |
Shares purchased for cancellation | (1,160) | 0 |
Lease incentives | 0 | 917 |
Net cash from financing activities | 31,396 | 3,424 |
Effect of exchange rate changes on cash | (77) | (308) |
Net change in cash | 10,752 | (1,907) |
Cash, beginning of year | 6,903 | 8,810 |
Cash, end of year | 17,655 | 6,903 |
Interest paid | 3,148 | 1,831 |
Income taxes (recovered) paid | $ (354) | $ 574 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PREPARATION Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were approved and authorized for issue by the Board of Directors (the “Board”) on June 16, 2022. Basis of Measurement These consolidated financial statements have been prepared under the historical cost basis except for • Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination which are generally measured initially at their fair values at the acquisition date; • Lease obligations, which are initially measured at the present value of the lease payments that are not paid at the lease commencement date; and • Equity classified share-based payment arrangements which are measured at fair value at grant date pursuant to IFRS 2, Share-Based Payment. PRINCIPLES OF CONSOLIDATION Subsidiaries Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed or has the right to variable returns from its relationship with the entity and is able to affect those returns through its power over the activities of the entity. The subsidiaries’ financial statements are included in these consolidated financial statements from the date of commencement of control until the date that control ceases. Subsidiaries’ accounting policies have been adjusted, when necessary, to align with the policies adopted by the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) All intercompany balances and transactions, and any unrealized income and expenses arising from intra company transactions, are eliminated on consolidation. These consolidated financial statements include the accounts of the Company and the accounts of its wholly-owned subsidiaries. All subsidiaries have a reporting date of March 31. The Company’s principal subsidiaries are as follows: 2022 2021 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% Alithya Digital Technology Corporation Ontario, Canada 100% 100% Alithya France SAS France 100% 100% Alithya USA, Inc. Delaware, USA 100% 100% Alithya Financial Solutions, Inc. Delaware, USA 100% 100% Alithya Ranzal LLC Delaware, USA 100% 100% Alithya Zero2Ten, Inc. Delaware, USA 100% 100% Alithya Fullscope Solutions, Inc. Delaware, USA 100% 100% Matricis Informatique Inc. (a) Quebec, Canada 100% 100% Alithya Travercent LLC (a) Texas, USA 100% 100% Alithya Askida Consulting Services Inc. (a) Quebec, Canada — 100% Alithya Askida Solutions Inc. (a) Quebec, Canada — 100% Pro2p Services Conseils Inc. (a) Canada — 100% Alithya Solutions Canada Inc. (a) Canada 100% 100% Alithya IT Services Inc. (a) Canada 100% - Vitalyst, LLC Delaware, USA 100% - Alithya Numérique Maroc SARLAU Maroc 100% - (a) As at March 31, 2022, those subsidiaries were either liquidated, dissolved, amalgamated or transferred all of their assets and liabilities to other companies of the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) BUSINESS COMBINATIONS The Group accounts for its business combinations using the acquisition method. Under this method the consideration transferred is measured at fair value. Acquisition-related and integration costs associated with the business combination are expensed as incurred. The Group recognizes goodwill as the excess of the cost of the acquisition over the net identifiable tangible and intangible assets acquired and liabilities assumed at their acquisition date fair values and any non-controlling interest in the acquiree. The fair value allocated to tangible and intangible assets acquired and liabilities assumed are based on management’s assumptions, including assumptions that would be made by market participants, acting in their economic best interest. These assumptions include the future expected cash flows arising from the intangible assets identified. The goodwill recognized is composed of the future economic value associated to acquired work force and any identified synergies with the Group’s operations which are primarily due to reduction of costs and new business opportunities. The determination of fair value involves making estimates relating to acquired intangible assets, property and equipment, litigation, provision for estimated losses on revenue-generating contracts, other onerous contracts, tax and other contingency reserves. Estimates include the forecasting of future cash flows and discount rates. Subsequent changes in fair values are adjusted against the cost of acquisition, if they qualify as measurement period adjustments. The measurement period is the period between the date of acquisition and the date where all significant information necessary to determine the fair values is available, not to exceed 12 months. All other subsequent changes are recognized in the consolidated statements of operations. TRANSLATION OF FOREIGN CURRENCIES The Group’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. Each entity in the group determines its own functional currency and items included in the consolidated financial statements of each entity are measured using that functional currency. Functional currency is the currency of the primary economic environment in which the entity operates. Foreign currency transactions and balances Revenue, expenses and non-monetary assets and liabilities denominated in foreign currencies are recorded at the rate of exchange prevailing at the transaction date, except for non-monetary items measured at fair value, which are translated using the exchange rates at the date when the fair value was determined. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates prevailing at the reporting date. Unrealized and realized translation gains and losses, resulting from the settlement of such transactions and from the remeasurement of monetary items denominated in foreign currency, are reflected in the consolidated statements of operations. Foreign operations In the Group’s consolidated financial statements, all assets, liabilities and transactions of Group entities with a functional currency other than the Canadian dollar are translated into Canadian dollars upon consolidation. The functional currencies of entities within the Group have remained unchanged during the reporting period. Upon consolidation, assets and liabilities have been translated into Canadian dollars at the closing rate at the reporting date. Goodwill and fair value adjustments arising from the acquisition of a foreign entity have been treated as assets and liabilities of the foreign entity and translated into Canadian dollars at the closing rate. Revenue and expenses have been translated into Canadian dollars at the average rate over the reporting period. Exchange differences are charged or credited to other comprehensive income and recognized in the currency translation reserve in equity. On disposal of a foreign operation, the related cumulative translation differences recognized in equity are reclassified to the consolidated statements of operations and are recognized as part of the gain or loss on disposal. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) SEGMENTED REPORTING An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to the transactions with any of the Group’s other segments. An entity shall disclose separately information about each operating segment or can combine operating segments, with similar economic characteristics or that do not meet quantitative thresholds to produce a reportable segment, into one reportable segment. The Group has examined its activities and has determined that it has one single reportable segment due to similar characteristics of its operating segments, including similar economic characteristics, the nature of services provided to its customers and types of customers comprising its customer base and the regulatory environment in which the Group operates. REVENUE RECOGNITION, UNBILLED REVENUES AND DEFERRED REVENUES The Group generates revenue principally through the provision of consulting services in the areas of information technology including systems implementation and strategy. These services are provided under arrangements with varying pricing mechanisms. To determine whether to recognize revenue, the Group follows a 5-step process: • Identifying the contract with a customer; • Identifying the performance obligations; • Determining the transaction price; • Allocating the transaction price to the performance obligations; and • Recognizing revenue when/as performance obligation(s) are satisfied. The total transaction price for a contract is allocated amongst the various performance obligations based on their relative standalone selling prices. Revenue is recognized either at a point in time or over time, when (or as) the Group satisfies performance obligations by transferring the promised goods or services to its customers, including variable consideration, such as, discounts, volume rebates, service-level penalties, and incentives. Variable consideration is estimated using either the expected value method or most likely amount method and is included only to the extent it is highly probable that a significant reversal of cumulative revenue recognized will not occur. In making this judgement, management will mostly consider all information available at the time, the Group’s knowledge of the client or the industry, the type of services to be delivered and the specific contractual terms of each arrangement. The Group recognizes contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as deferred revenues in the statement of financial position. Similarly, if the Group satisfies a performance obligation before it receives the consideration, the Group recognizes either an unbilled revenues or a receivable in its statement of financial position, depending on whether something other than the passage of time is required before the consideration is due. Certain of the Group’s arrangements may include client acceptance clauses. Each clause is analyzed to determine whether the earnings process is complete when the service is performed. Formal client sign-off is not always necessary to recognize revenue, provided that the Group objectively demonstrates that the criteria specified in the acceptance provisions are satisfied. Some of the criteria reviewed include historical experience with similar types of arrangements, whether the acceptance provisions are specific to the client or are included in all arrangements, the length of the acceptance term and historical experience with the specific client. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Contract modifications are changes in scope and/or price that are approved by the parties to the contract. Approval may be written, oral or implied by customary business practices, and are legally enforceable. The Group accounts for modifications as a separate contract if the modifications add distinct goods or services that are priced commensurate with standalone selling prices or if the remaining goods or services are distinct from those already transferred, otherwise modifications are accounted for as part of the original contract. Time and materials arrangements – Revenue from consulting and support services and systems implementations under time and materials arrangements is recognized as the services are rendered. Fixed-fee arrangements – Revenue from consulting services and systems implementations under fixed-fee arrangements where the outcome of the arrangements can be estimated reliably is recognized over time based on the measure of progress determined by the Group's efforts or inputs towards satisfying the performance obligation relative to the total expected inputs. The Group primarily uses labour costs or labour hours to measure the progress towards completion. This method relies on estimates of total expected labour costs or total expected labour hours to complete the service, which are compared to labour costs or labour hours incurred to date, to arrive at an estimate of the percentage of revenue earned to date. Management regularly reviews underlying estimates of total expected labour costs or hours. If the outcome of an arrangement cannot be estimated reliably, revenue is recognized to the extent of arrangement costs incurred that are likely to be recoverable. Service based arrangements – The client pays a recurring fee in exchange for a monthly recurring service (typically support). The revenue for these arrangements is recognized over time. Software revenue – Software revenue is generated from the resale of certain third-party off-the-shelf software and maintenance. The majority of the software sold by the Group is delivered electronically. For software that is delivered electronically, the Group considers transfer of control to have occurred when the customer either (a) takes possession of the software via a download (that is, when the customer takes possession of the electronic data on its hardware), or (b) has been provided with access codes that allow the customer to take immediate possession of the software on its hardware pursuant to an agreement or purchase order for the software. In all instances, the resale of third-party software and maintenance is recorded on a net basis. Group created software, and the associated maintenance, is reported on a gross basis, however it is immaterial in all periods presented. Third party software and maintenance revenue are recognized upon delivery of the software, as all related warranty and maintenance is performed by the primary software vendor and not the Group. Subscriptions to learning services, which are available to customers at any times with unlimited use, are recognized over time, on a straight-line basis over the contract term. The Group enters into arrangements with multiple performance obligations which typically include software, post-contract support (or maintenance), and consulting services. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis. The Group has determined standalone selling prices for each of the performance obligations in connection with the evaluation of arrangements with multiple performance obligations. The Group has determined standalone selling prices for consulting services based on a stated and consistent rate per hour range in standalone transactions. The Group has determined standalone selling prices for software through consistent stated rates for software components. The Group has determined standalone selling prices for maintenance based on observable prices for standalone renewals. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Estimated losses on revenue-generating contracts – Estimated losses on revenue-generating contracts may occur due to additional contract costs which were not foreseen at the inception of the contract. Contract losses are measured at the amount by which the estimated incremental costs, including direct labour and material, exceed the estimated total revenue from the contract. The estimated losses on revenue-generating contracts are recognized in the period when it is determined that a loss is probable. The expected loss is first applied to impair the related capitalized contract costs, if any, with the excess recorded under performance obligations in customer contracts in accounts payable and accrued liabilities. Management regularly reviews arrangement profitability and underlying estimates. Unbilled revenues and deferred revenues – Amounts recognized as revenue in excess of billings are classified as unbilled revenues. Amounts received in advance of the performance of services are classified as deferred revenues. FINANCIAL INSTRUMENTS Recognition and Derecognition Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual provisions of the financial instrument. Financial assets are derecognized when the contractual rights to the cash flows from the financial asset expire, or when the financial asset and substantially all the risks and rewards are transferred. A financial liability is derecognized when it is extinguished, discharged, cancelled or expires. Classification and Initial Measurement of Financial Assets Except for those accounts receivables and other receivables that do not contain a significant financing component and are measured at the transaction price in accordance with IFRS 15, all financial assets are initially measured at fair value adjusted for transaction costs (where applicable). Financial assets, other than those designated and effective as hedging instruments, are classified into the following categories: • amortized cost; • fair value through profit or loss (FVTPL); and • fair value through other comprehensive income (FVOCI). The classification is determined by both: • the entity’s business model for managing the financial asset; and • the contractual cash flow characteristics of the financial asset. All income and expenses relating to financial assets that are recognized in profit or loss are presented within financial expense, except for impairment of accounts receivables and other receivables, which is presented within selling, general and administrative expenses. In the years presented, the Group does not have any financial assets categorized as FVOCI or FVTPL. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Subsequent measurement of financial assets Financial assets at amortized cost Financial assets are measured at amortized cost if the assets meet the following conditions (and are not designated as FVTPL): • they are held within a business model whose objective is to hold the financial assets and collect its contractual cash flows; and • the contractual terms of the financial assets give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding. After initial recognition, these are measured at amortized cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. The Group’s cash, restricted cash and accounts receivable and other receivables fall into this category of financial instruments. Impairment of financial assets and unbilled revenues IFRS 9’s impairment requirements use forward-looking information to recognize expected credit losses – the ‘expected credit loss (ECL) model’. Instruments within the scope of IFRS 9’s impairment requirements included loans and other debt-type financial assets measured at amortized cost and FVOCI, accounts receivables and other receivables and unbilled revenues recognized and measured under IFRS 15 and loan commitments and some financial guarantee contracts (for the issuer) that are not measured at fair value through profit or loss. Expected credit losses are not significant for the Group. The Group considers a range of information when assessing credit risk and measuring expected credit losses, including past events, current conditions, reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument. In applying this forward-looking approach, a distinction is made between: • financial instruments that have not deteriorated significantly in credit quality since initial recognition or that have low credit risk (‘Stage 1’) and • financial instruments that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low (‘Stage 2’). ‘Stage 3’ would cover financial assets that have objective evidence of impairment at the reporting date. ‘12-month expected credit losses’ are recognized for the first category while ‘lifetime expected credit losses’ are recognized for the second category. Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses over the expected life of the financial instrument. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. Accounts Receivable and Other Receivables and Unbilled Revenues The Group makes use of the simplified approach in accounting for accounts receivable and other receivables and unbilled revenues and records the loss allowance as lifetime expected credit losses. These are the expected shortfalls in contractual cash flows, considering the potential for default at any point during the life of the financial instrument. In calculating, the Group uses its historical experience, external indicators and forward-looking information to calculate the expected credit losses using a provision matrix. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) The Group assesses impairment of accounts receivables and other receivables and unbilled revenues based on days past due on a collective basis as customers with similar payment delays possess shared credit risk characteristics. The Group also assesses impairment of accounts receivables and other receivables and unbilled revenues on a customer-by-customer basis based on specific risks identified. Classification and measurement of financial liabilities The Group’s financial liabilities include accounts payable and accrued liabilities and long-term debt. Financial liabilities are initially measured at fair value, and, where applicable, adjusted for transaction costs unless the Group designated a financial liability at fair value through profit or loss. Subsequently, financial liabilities are measured at amortized cost using the effective interest method and financial liabilities designated at FVTPL, which are carried subsequently at fair value with gains or losses recognized in profit or loss. All interest-related charges and, if applicable, changes in an instrument’s fair value are reported in the consolidated statements of operations within financial expenses. Transaction Costs Transaction costs related to loans and receivables and liabilities are considered as part of the carrying value of the asset or liability and are then amortized over the expected life of the instrument using the effective interest rate method. Financial Income and Expenses Financial income includes interest income on cash. Interest income is recognized as it accrues in earnings, using the effective interest method. Financial expenses include interest expense on borrowings, effective interest on non-interesting bearing vendor financing arising from business combinations, amortization of unwinding of the discount on provisions and other interest and bank charges. EARNINGS PER SHARE Basic earnings (loss) per share is calculated by dividing the net earnings (loss) attributable to the holders of Common Shares (as defined further herein) by the weighted average number of Common Shares outstanding during the period. The net earnings (loss) attributable to the holders of Common Shares corresponds to the net earnings (loss) adjusted by deducting earnings allocated to preferred shares. Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the weighted average number of additional Common Shares that would have been outstanding assuming the conversion of all potential equity instruments, including deferred, restricted and performance share units, if dilutive. Dilutive potential outstanding stock options include the total number of additional Common Shares that would have been issued by the Company assuming stock options with exercise prices below the average market price for the year were exercised and reduced by the number of shares that the Company could have repurchased if it had used the assumed proceeds from the exercise of stock options to repurchase them on the open market at the average share price for the period. “Common Shares” include the Subordinate Voting Shares and Multiple Voting Shares (as defined further herein). 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) RESTRICTED CASH Restricted cash represents amounts held in trust as required by contractual obligations arising from a business acquisition. Restricted cash that is not expected to become unrestricted within the next twelve months is included in non-current assets on the statements of financial position. GOVERNMENT ASSISTANCE Certain subsidiaries are eligible for government assistance programs, in the different jurisdictions, in the form of grants, loans and tax credits for the development of e-business. Government assistance is recorded when there is reasonable assurance that the assistance will be received and that the subsidiary will comply with all relevant conditions. Assistance is treated as a reduction in the cost of the related item. In preparing claims, judgment is required in interpreting the regulations related to these programs, determining if the operations of the subsidiaries qualify and identifying and quantifying eligible expenses. These claims are subject to examination and audit by local authorities, who may disagree with interpretations made by the Group. Management estimates the amounts to be received or forgiven under these programs. Final settlements following examinations and audits could be different from amounts recorded and could have a material effect on the financial position or operating results of the Group. PROPERTY AND EQUIPMENT (“P&E”) Property and equipment are recorded at cost and amortized over their estimated useful lives, using the following methods: Method Rates Furniture, fixtures and equipment Declining balance 20 % Computer equipment Declining balance 30 % Leasehold improvements Straight line Over the term of the lease The residual value, depreciation method and useful life of each asset are reviewed at least once a year, at the reporting date. LEASES The Group as a lessee For any new contracts entered into, the Group considers whether a contract is, or contains a lease. A lease is defined as a “contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration”. To apply this definition, the Group assesses whether the contract meets three key evaluations which are whether: • the contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the Group; • the Group has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract; and • the Group has the right to direct the use of the identified asset throughout the period of use. The Group assesses whether it has the right to direct “how and for what purpose” the asset is used throughout the period of use. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Measurement and recognition of leases as a lessee At lease commencement date, the Group recognizes a right-of-use asset and a lease liability on the statement of financial position. The right-of-use asset is measured at cost, which is made up of the initial measurement of the lease liability, any initial direct costs incurred by the Group, an estimate of any costs to dismantle and remove the asset at the end of the lease, and any lease payments made in advance of the lease commencement date (net of any incentives received). The Group depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The Group also assesses the right-of-use asset for impairment when such indicators exist. At the commencement date, the Group measures the lease liability at the present value of the lease payments unpaid at that date, discounted using the interest rate implicit in the lease if that rate is readily available or the Group’s incremental borrowing rate. Lease payments included in the measurement of the lease liability are made up of fixed payments (including in-substance fixed payments), variable payments based on an index or rate, amounts expected to be payable under a residual value guarantee and payments arising from options reasonably certain to be exercised. Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments. When the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset, or net loss if the right-of-use asset is already reduced to zero. The Group has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognizing a right-of-use asset and lease liability, the payments in relation to these are recognized as an expense in the consolidated statements of operations on a straight-line basis over the lease term. The Group as a lessor As a lessor, the Group classifies its leases as either operating or finance leases. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of the underlying asset, and classified as an operating lease if it does not. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) INTANGIBLES Intangible assets consist mainly of customer relationships, non-compete agreements and internal-use business solutions and software licenses. Internal use business solutions and software licenses (“Software”) are recorded at cost. In addition, internal-use business solutions developed internally are capitalized when they meet specific capitalization criteria related to technical and financial feasibility and when the Group demonstrates its ability and intention to use them. Amortization of internal-use business solutions commences once the solution is available for use. Customer relationships, internal-use business solutions and software licenses acquired through business combinations are initially recorded at their fair value. The Group amortizes its intangible assets using the straight-line method, or a method that reflects the pattern in which the asset’s future economic benefits are expected to be consumed, over their estimated useful lives, as follows : Method Period Customer relationships Straight line/ 3 - 10 years or based on the term of the underlying contracts Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years The residual value, depreciation method and useful life of each asset are reviewed at least once a year, at the reporting date. GOODWILL Goodwill represents the excess of the cost of an acquisition over the fair value of the Group's share of the net identifiable assets of the acquired subsidiary at the date of acquisition and it is measured net of accumulated impairment losses. Goodwill is not amortized, but instead tested for impairment annually, or more frequently, should events or changes in circumstances indicate that the goodwill may be impaired. IMPAIRMENT OF P&E, RIGHT-OF-USE ASSETS, INTANGIBLES AND GOODWILL Timing of impairment testing The carrying amounts of the Group's P&E, right-of-use assets, intangible assets and goodwill are reviewed for impairment when events or changes in circumstances indicate that the carrying value may be impaired. At each reporting date, the Group assesses whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated. For goodwill, and |
Business Combinations
Business Combinations | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combinations | BUSINESS COMBINATIONS Alithya IT Services Inc. Overview On April 1, 2021, the Company acquired all of the outstanding shares of R3D Consulting Inc. (now Alithya IT Services Inc.) ("Alithya IT" or "R3D") (the “R3D Acquisition”), a private Québec firm that specializes in digital solutions. The purchase price was paid by the issuance of 25,182,676 Subordinate Voting Shares of the Company, at a value of $3.20 per share, which was the closing share price on the TSX on April 1, 2021, cash of $978,000 and assumption of accounts payable and accrued liabilities and long-term debt of $45,000 and $8,887,000, respectively, on the closing date. The fair value of the assets acquired, liabilities assumed, and the purchase consideration’s valuation have been completed. The R3D Acquisition is being accounted for using the acquisition method of accounting. For the year ended March 31, 2022, the Company incurred acquisition-related costs of approximately $1,646,000. These costs have been recorded in the consolidated statement of operations in business acquisition, integration and reorganization costs. 3. BUSINESS COMBINATION (CONT'D) Purchase Price Allocation The allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Alithya IT Services Inc. $ Current assets Cash 577 Accounts receivable and other receivables 9,985 Unbilled revenues 7,169 Prepaids 91 17,822 Non-current assets Tax credits receivable 2,053 Property and equipment 2,207 Right-of-use assets 2,982 Intangibles 52,777 Deferred tax assets 763 Goodwill 42,491 Total assets acquired 121,095 Current liabilities Accounts payable and accrued liabilities 15,069 Income taxes payable 155 Deferred revenues 125 Current portion of lease liabilities 592 Current portion of long-term debt 8,887 24,828 Non-current liabilities Lease liabilities 3,620 Deferred tax liabilities 11,084 Total liabilities assumed 39,532 Net assets acquired 81,563 3. BUSINESS COMBINATION (CONT'D) Goodwill Th e goodwill recognized consists mainly of the future economic value attributable to the profitability of the acquired business, as well as its workforce and expected synergies from the integration of Alithya IT into the Group's existing business. The Company does not expect the goodwill to be deductible for income tax purposes. Consideration paid The following table summarizes the acquisition date fair value of each class of consideration as follows: Acquisition of Alithya IT Services Inc. $ Cash paid 978 Issuance of 25,182,676 Subordinate Voting Shares 80,585 Total consideration transferred 81,563 Alithya IT 's contribution to the Group results For the period from April 1, 2021 to December 31, 2021, the date of Alithya IT’s administrative integration within the acquired legal entity, it contributed revenues of approximately $51,002,000, a loss in the amount of $4,595,000, including amortization, primarily related to the acquired customer relationships, of $3,805,000, and business acquisition and integration costs of $3,683,000. Since the R3D Acquisition, all new contracts and all new employees related to the acquired business were recorded in other Canadian entities of the Group, in preparation for its administrative integration. Vitalyst, LLC Overview On January 31, 2022, the Company acquired all of the issued and outstanding membership interest of Vitalyst, LLC (“Vitalyst”) ("Vitalyst Acquisition"), a US-based learning, employee experience and transformative change enablement business. The Vitalyst Acquisition was completed for total consideration of US$45,362,000 ($57,592,000), comprised of certain accounts payable and accrued liabilities assumed of US$2,279,000 ($2,893,000), long-term debt of US$30,150,000 ($38,279,000), and US$12,933,000 ($16,420,000) paid in cash. The consideration is subject to working capital and other adjustments, and includes an additional potential earn-out of up to US$1,000,000 ($1,270,000) payable before May 31, 2023. The fair value of the assets acquired and the liabilities assumed, and the purchase consideration is preliminary pending the completion of their valuation. Should new information, obtained within one year of the date of acquisition, about the facts and circumstances that existed at the date of the Vitalyst Acquisition, result in adjustments to the below amounts, or require additional provisions for conditions that existed at the date of the Vitalyst Acquisition, the fair value will then be revised. The Vitalyst Acquisition is being accounted for using the acquisition method of accounting. For the year ended March 31, 2022, the Company incurred acquisition-related costs of approximately $1,652,000. These costs have been recorded in the consolidated statement of operations in business acquisition, integration and reorganization costs. 3. BUSINESS COMBINATION (CONT'D) Purchase Price Allocation The preliminary allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Vitalyst, LLC $ Current assets Cash 1,116 Accounts receivable and other receivables 6,301 Unbilled revenues 1,101 Prepaids 1,403 9,921 Non-current assets Other assets 157 Property and equipment 583 Right-of-use assets 3,975 Intangibles 26,323 Goodwill 31,498 Total assets acquired 72,457 Current liabilities Accounts payable and accrued liabilities 5,237 Deferred revenues 7,936 Current portion of lease liabilities 1,007 Current portion of long-term debt 38,584 52,764 Non-current liabilities Lease liabilities 3,273 Total liabilities assumed 56,037 Net assets acquired 16,420 Goodwill Th e goodwill recognized consists mainly of the future economic value attributable to the profitability of the acquired business, as well as its workforce and expertise. The Company does not expect the goodwill to be deductible for income tax purposes. Consideration paid The following table summarizes the acquisition date fair value of each class of consideration as follows: Acquisition of Vitalyst, LLC $ Cash paid 16,420 Earn-out — Total consideration transferred 16,420 3. BUSINESS COMBINATION (CONT'D) Vitalyst's contribution to the Group results For the year ended March 31, 2022, the Vitalyst business contributed revenues of approximately $4,980,000, a loss in the amount of $1,219,000, including amortization, primarily related to the acquired customer relationships, of $569,000, and acquisition and integration costs of $1,693,000, respectively. If the acquisition had occurred on April 1, 2021, pro-forma revenue and earnings before incomes taxes for the Vitalyst Acquisition for the year ended March 31, 2022 would have been $31,427,000 and $5,715,000, respectively. These amounts have been calculated using Vitalyst’s results and adjusting for: • differences in accounting policies between the Group and Vitalyst; • the removal of transaction costs incurred by Vitalyst from April 1, 2021 to January 31, 2022; and • the additional amortization that would have been charged assuming the fair value adjustments to intangibles had been applied from April 1, 2021. |
Accounts Receivable and Other R
Accounts Receivable and Other Receivables | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | |
Accounts Receivable and Other Receivables | ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES As at March 31, 2022 2021 $ $ Trade accounts receivable, net 98,289 67,049 Other receivables 2,578 2,314 100,867 69,363 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property and Equipment | PROPERTY AND EQUIPMENT As at March 31, 2022 March 31, 2021 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ $ Cost 1,738 2,889 6,149 10,776 2,333 3,190 5,611 11,134 Additions 56 1,444 219 1,719 553 1,195 1,682 3,430 Additions through business acquisitions (note 3) 79 591 2,120 2,790 — — — — Disposals / retirements — — — — (1,150) (1,217) (1,106) (3,473) Foreign currency translation adjustment 1 1 6 8 2 (279) (38) (315) Subtotal 1,874 4,925 8,494 15,293 1,738 2,889 6,149 10,776 Accumulated depreciation 111 1,100 1,116 2,327 699 1,752 1,511 3,962 Depreciation expense 337 996 1,235 2,568 381 765 715 1,861 Disposals / retirements — — — — (964) (1,188) (1,103) (3,255) Foreign currency translation adjustment — (13) (1) (14) (5) (229) (7) (241) Subtotal 448 2,083 2,350 4,881 111 1,100 1,116 2,327 Net carrying amount 1,426 2,842 6,144 10,412 1,627 1,789 5,033 8,449 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Leases | LEASES Right-of-use assets The following right-of-use assets relate to right-of-use real estate: As at March 31, 2022 March 31, 2021 $ $ Beginning balance 11,118 11,492 Additions 7,117 2,611 Depreciation (2,867) (1,906) Reassessments (a) (161) (830) Lease inducement allowance — 28 Exchange rate effect (61) (277) Net carrying amount 15,146 11,118 (a) During the year, the Group entered into an agreement to sublease a portion of its office space to a subtenant. The sublease resulted in the derecognition of the right-of-use asset associated with the office space and the recognition of short-term lease receivable, included in other receivables, and long-term lease receivable, included in other assets, in the amounts of nil and $849,000, respectively. 6. LEASES (CONT’D) Lease liabilities As at March 31, 2022 March 31, 2021 $ $ Beginning balance 15,459 13,232 Additions 8,647 2,611 Lease payments (3,413) (1,992) Lease incentives — 2,243 Lease interest 725 595 Reassessments (88) (830) Concession — (110) Exchange rate effect (67) (290) Ending balance 21,263 15,459 Current portion 3,510 1,923 17,753 13,536 Contractual lease payments under the lease liabilities as at March 31, 2022 are as follows: As at March 31, 2022 $ Less than one year 4,302 One to two years 4,270 Two to five years 10,244 More than five years 5,229 Total undiscounted lease payments at period end 24,045 Amounts recognized in net loss Year ended March 31, 2022 March 31, 2021 $ $ Interest on lease liabilities 725 595 Variable lease payments 2,766 2,487 3,491 3,082 Total cash outflow for leases for the years ended March 31, 2022 and 2021 was $6,179,000 and $4,479,000, respectively. |
Intangibles
Intangibles | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangibles | INTANGIBLES As at March 31, 2022 March 31, 2021 Customer relationships Software Non-compete agreements Total Customer Software Non-compete agreements Total $ $ $ $ $ $ $ $ Cost 67,720 4,334 6,902 78,956 73,722 4,377 7,530 85,629 Additions, purchased — 22 — 22 — 7 — 7 Additions through business acquisition (note 3) 78,804 296 — 79,100 — — — — Additions, internally generated — 1,339 — 1,339 — 159 — 159 Disposals / retirements — (999) — (999) (2,933) (29) (237) (3,199) Foreign currency translation adjustment (558) (3) (16) (577) (3,069) (180) (391) (3,640) Subtotal 145,966 4,989 6,886 157,841 67,720 4,334 6,902 78,956 Accumulated amortization 38,033 2,471 1,862 42,366 31,970 1,242 613 33,825 Amortization 11,925 1,007 1,353 14,285 8,996 1,258 1,485 11,739 Disposals / retirements — (737) — (737) (2,933) (29) (236) (3,198) Subtotal 49,958 2,741 3,215 55,914 38,033 2,471 1,862 42,366 Net carrying amount 96,008 2,248 3,671 101,927 29,687 1,863 5,040 36,590 |
Goodwill
Goodwill | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Goodwill | GOODWILL The Group completed the annual impairment test as at March 31, 2022 for its CGUs, which are categorized as follows: As at March 31, 2022 Canada France EPM US ERP US Not allocated (a) Total $ $ $ $ $ $ Beginning balance 34,644 137 8,915 29,210 — 72,906 Business acquisition (note 3) 42,491 — — — 31,498 73,989 Foreign currency translation adjustments — (9) (63) (205) (530) (807) Net carrying amount 77,135 128 8,852 29,005 30,968 146,088 As at March 31, 2021 Canada ADT France EPM US ERP US Total $ $ $ $ $ $ Beginning balance 26,950 7,694 150 10,012 32,802 77,608 Foreign currency translation adjustments — — (13) (1,097) (3,592) (4,702) Net carrying amount 26,950 7,694 137 8,915 29,210 72,906 (a) As at March 31, 2022, the Vitalyst purchase price allocation was preliminary resulting in $30,968,000 of goodwill which has not yet been allocated to a CGU. 8. GOODWILL (CONT’D) As at the March 31, 2022 measurement date, the Group has changed its aggregation of assets for identifying CGUs from the prior year by merging the Canada CGU with the Alithya Digital Technology Corporation (‘’ADT’’) CGU to form one single Canada CGU. The CGUs were merged as a result of increased integration, selling synergies and resource sharing across both CGUs. The Group completed an annual impairment test as at March 31, 2022 and March 31, 2021 and concluded no impairment occurred. In assessing whether goodwill is impaired, the carrying amount of the CGU was compared to its recoverable amount. T he recoverable amount of each CGU was determined based on the value-in-use calculations, covering a three-year forecast, followed by an extrapolation of future expected net operating cash flows for the remaining useful lives using the long-term growth rate determined by management. The present value of the future expected net operating cash flows of each CGU is determined by applying a suitable after tax value Weighted Average Cost of Capital (“WACC”) reflecting current market assessments of the time value of money and the CGU-specific risks. Key assumptions used in impairment testing by CGU are as follows: As at March 31, 2022 Canada France EPM US ERP US % % % % After tax WACC 11.9 16.7 15.2 15.3 Long-term growth rate of net operating cash flows* 3.4 2.6 2.7 2.7 * The long-term growth rate is based on published industry research. As at March 31, 2021 Canada ADT France EPM US ERP US % % % % % After tax WACC 10.8 11.2 14.6 13.2 13.4 Long-term growth rate of net operating cash flows* 3.4 3.4 4.5 3.4 3.4 * The long-term growth rate is based on published industry research. No reasonably possible change in any of the above key assumptions would cause the carrying value of the France, EPM US and ERP US CGUs to exceed its recoverable amount. For the year ended March 31, 2022, two key assumptions related to Canada were identified that, if changed, could have caused the carrying amount to exceed its recoverable amount. Varying the assumptions in the values of the recoverable amount calculation, individually as indicated below, for the year ended March 31, 2022, assuming all other variables remain constant, would result in the recoverable amount being equal to the carrying amount. Incremental increase in after tax WACC Incremental decrease in long-term growth rate of net operating cash flows Basis points Basis points Canada 170 240 |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | |
Accounts Payable and Accrued Liabilities | ACCOUNTS PAYABLE AND ACCRUED LIABILITIES As at March 31, 2022 2021 $ $ Trade accounts payable 26,604 15,196 Accrued liabilities 26,903 11,130 Accrued compensation 31,396 22,020 Consumption taxes payable 3,694 2,662 Performance obligations in customer contracts 1,013 563 Provision 50 — 89,660 51,571 |
Long-term Debt
Long-term Debt | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about borrowings [abstract] | |
Long-term Debt | LONG-TERM DEBT The following table summarizes the Group’s long-term debt: As at March 31, 2022 2021 $ $ Senior secured revolving credit facility (the "Credit Facility") (a) 66,631 31,023 Secured loans (b) 8,596 — Subordinated unsecured loan (c) 17,500 — Balance of purchase payable with a nominal value of $3,100,000, non-interest bearing (5.8% effective interest rate) payable April 3, 2022 3,100 2,988 Balance of purchase payable with a nominal value of $1,800,000, non-interest bearing (6.0% effective interest rate), payable on October 1, 2022 1,748 1,649 Balance of purchase payable with a nominal value of $8,519,000 ($6,825,000 US), non-interest bearing (6.0% effective interest rate), payable on December 13, 2022 8,178 7,770 Balance of purchase payable with a nominal value of $3,259,000, non-interest bearing (5.7% effective interest rate) payable on February 1, 2022 — 3,112 Unsecured promissory notes (2021 - US$4,800,000) (d) — 6,034 Deferral of employment tax deposits and payments (US$1,219,000 ; 2021 - US$1,878,000) (e) 1,521 2,361 Other 120 213 Unamortized transaction costs (net of accumulated amortization of $754,000 and $477,000) (718) (199) 106,676 54,951 Current portion of long-term debt 19,316 35,134 87,360 19,817 (a) The Credit Facility is available to a maximum amount of $125,000,000 and can be drawn in Canadian and the equivalent amount in U.S. dollars. It is available in prime rate advances, SOFR advances, bankers’ acceptances and letters of credit up to $2,500,000. 10. LONG-TERM DEBT (CONT’D) The advances bear interest at the Canadian or U.S. prime rate, plus an applicable margin ranging from 0.25% to 1.00%, or bankers’ acceptances or SOFR rates, plus an applicable margin ranging from 1.50% to 2.25%, as applicable for Canadian and U.S. advances, respectively. The applicable margin is determined based on threshold limits for certain financial ratios. As security for the Credit Facility, Alithya provided a first ranking hypothec on the universality of its assets excluding any leased equipment and Investissement Québec’s first ranking lien on tax credits receivable for the financing related to refundable tax credits. Under the terms of the agreement, the Group is required to maintain certain financial covenants which are measured on a quarterly basis. The Credit Facility matures on April 1, 2024 and is renewable for additional one (b) On November 24, 2021, the Group entered into secured loans with Investissement Québec to finance its 2021 and 2022 refundable tax credits to a maximum of the lesser of 90% of the eligible refundable tax credit or $4,670,000 and $5,832,000, for 2021 and 2022, respectively. The secured loans bear interest at the Canadian prime rate plus 1.00% and are secured by a first ranking hypothec on the universality of the financed refundable tax credits and a subordinated ranking hypothec on accounts receivable and other receivables. The secured loans are repayable on the earlier of the date of receipt of the refundable tax credits receivable and the maturity dates of March 31, 2023 for the 2021 financed refundable tax credits, in the amount of $4,670,000 and March 31, 2024 for the 2022 financed refundable tax credits, in the amount of $3,926,000. (c) On September 28, 2021, the Group entered into a subordinated unsecured loan, with Investissement Québec, in the amount of $10,000,000, bearing interest ranging between 6.00% and 7.25%, determined and payable quarterly, based on threshold limits for certain financial ratios. Under the terms of the loan, the Group is required to maintain certain financial covenants which are measured on a quarterly basis. On January 28, 2022, the subordinated unsecured loan was amended and increased to $20,000,000, bearing interest ranging between 7.10% and 8.35%, on the additional $10,000,000, determined and payable quarterly, based on threshold limits for certain financial ratios. An amount of $7,500,000 was drawn on the loan availability with the remaining $2,500,000 available based on certain conditions. The maturity date was also extended to October 1, 2025. (a)(c) The Group was in compliance with all of its financial covenants as at March 31, 2022 and 2021. (d) As a result of the COVID-19 pandemic, on May 5, 2020, five U.S. subsidiaries of the Group received funding under the Paycheck Protection Program ("PPP") of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") administered by the U.S. Small Business Administration ("SBA") and entered into unsecured promissory notes (the "Notes") in the aggregate principal amount of US$6,300,000 ($7,932,000). The Notes have a term of five years at an interest rate of 1.00% per annum, with a deferral of payments until the date on which the applicable forgiveness is decisioned, with respect to any portion of the Notes which may not be forgiven. Under the terms of the CARES Act, PPP loan recipients can apply for forgiveness for all or a portion of loans granted under the PPP, which the Group applied for between November 17, 2020 and January 5, 2021. The Group accounts for the forgiveness as government assistance with a corresponding reduction in the cost of the related item (note 17). Such forgiveness is to be determined, subject to limitations and ongoing rule making by the SBA, based on the necessity of the loan at the time of application and the timely use of loan proceeds for payroll costs, including payments required to continue group health care benefits, and certain rent, utility, and mortgage interest costs and the maintenance of employee and compensation levels. The PPP loans, even after notice of forgiveness by the SBA, are subject to subsequent audit by the SBA, for a period of six years after receiving such notice. 10. LONG-TERM DEBT (CONT'D) During the year ended March 31, 2022, the Group recognized an aggregate amount of $5,868,000 (US$4,800,000), and $1,898,000 (US$1,500,000) for the year ended March 31, 2021, as government assistance for the PPP loans. The Group has received full loan forgiveness decisions for all five PPP loans obtained in May 2020. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2022 | |
Major components of tax expense (income) [abstract] | |
Income Taxes | INCOME TAXES Income tax expense (recovery) for the year is as follows: Year ended March 31, 2022 2021 Current tax expense (recovery) $ $ Current tax expense (recovery) for the year (20) 1,515 Total current tax expense (recovery) (20) 1,515 Deferred tax recovery Origination and reversal of temporary differences (3,007) (3,797) Total deferred tax recovery (3,007) (3,797) Total income tax recovery (3,027) (2,282) The Group’s effective income tax rate differs from the combined Federal and Provincial Canadian statutory tax rate as follows: Year ended March 31, 2022 2021 % $ % $ Loss before income taxes (18,575) (19,620) Company's statutory tax rate 26.5 (4,922) 26.5 (5,199) Non-deductible share-based compensation expense (3.6) 663 (4.2) 815 Other non-deductible and tax exempt items 1.3 (238) (2.8) 549 Change in unrecognized deferred tax assets (7.2) 1,340 (10.6) 2,076 Other (0.7) 130 2.7 (523) Effective income tax rate 16.3 (3,027) 11.6 (2,282) The Group’s applicable tax rate is the Canadian combined rates applicable in the jurisdictions in which the Group operates. 11. INCOME TAXES (CONT’D) Deferred income tax assets and liabilities The amounts recognized in the consolidated statement of financial position consist of: As at March 31, 2022 2021 $ $ Deferred tax liabilities (9,962) (2,980) Deferred tax assets 7,247 7,465 (2,715) 4,485 Movements in temporary differences during the year were as follows: As at March 31, 2022 March 31, 2021 Opening Recognized Recognized in equity Business acquisition Total Opening Recognized Recognized in equity Total $ $ $ $ $ $ $ $ $ Losses available for carryforward and other tax deductions 13,116 2,804 — 1,348 17,268 11,052 2,064 — 13,116 Deferred financing costs 558 (110) 113 15 576 700 (142) — 558 Total deferred tax assets 13,674 2,694 113 1,363 17,844 11,752 1,922 — 13,674 Intangibles and goodwill (6,129) 2,373 — (11,683) (15,439) (7,873) 1,744 — (6,129) Tax credits and other (3,060) (2,060) — — (5,120) (3,284) 131 93 (3,060) Total deferred tax liability (9,189) 313 — (11,683) (20,559) (11,157) 1,875 93 (9,189) Net carrying amount 4,485 3,007 113 (10,320) (2,715) 595 3,797 93 4,485 As at March 31, 2022, net deferred tax assets of $1,127,000 were recognized with respect to entities that incurred losses this fiscal year or the preceding fiscal year. Based upon the level of historical taxable income or projections for future taxable income, management believes it is probable that the Company will realize the benefits of these net deferred tax assets. Losses available for carryforward for which no deferred tax asset was recognized Expiry date Canada $ 2041 663 2042 1,256 1,919 11. INCOME TAXES (CONT’D) Losses available for carryforward for which no deferred tax asset was recognized Expiry date (a) USA $ 2036 1,981 2037 15,739 Indefinite 22,957 40,677 (a) Net operating losses amounting to $24,147,000 of which $15,739,000 will expire in 2037 and $1,981,000 in 2036, are limited due to the U.S. tax rules applicable on the acquisition of Edgewater Technology Inc. In addition, the Company has i) state losses amounting to approximately $29,551,000 (with expiry dates ranging from 2023 to 2042) and ii) net deductible temporary differences totaling approximately $18,884,000 for which no deferred tax benefit has been recognized. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2022 | |
Commitments And Contingencies [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Contingencies From time to time, the Group may become involved in various claims and litigation as part of its normal course of business. While the final outcome thereof cannot be predicted, based on the information currently available, management believes the resolution of current pending claims and litigation will not have a material impact on the Group’s financial position and results of operations. Claims for which there is a probable unfavorable outcome are recorded in provisions. Operating commitments Operating expenditures contracted for at the end of the reporting period but not yet incurred are as follows: Year ended March 31, 2022 Technology licenses, infrastructure and other Total 2023 3,975 2024 2,351 2025 1,073 7,399 |
Related Parties
Related Parties | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Related Parties | RELATED PARTIES Ultimate controlling party As at March 31, 2022, the holders of Multiple Voting Shares, directly or indirectly, collectively owned or exercised control over Subordinate Voting Shares and Multiple Voting Shares representing approximately 45.81% of the total voting rights of Alithya. The holders entered into a voting agreement on November 1, 2018, pursuant to which they agreed to, among other things, vote all of the Subordinate Voting Shares and Multiple Voting Shares under their control in accordance with decisions made by a majority of them, subject to certain exceptions. Transactions with directors and key management personnel Key management includes members of the Group’s Executive Committee. Certain key management of Alithya participate in the share purchase plan and the stock options plan. The compensation paid or payable to directors and to key management for services is shown below: Year ended March 31, 2022 2021 Director compensation, and key management salaries and benefits* 4,312 4,427 Share-based compensation 1,325 1,273 Termination benefits 317 — 5,954 5,700 * Salaries and benefits include short-term incentive compensation. In addition to the above amounts, the Group is committed to pay incremental benefits to certain members of key management up to $5,122,000 (2021 - $5,450,000) in the event of change of control and/or termination without cause. Operating transactions with key management personnel In the normal course of operations, the Group incurred the following transactions with an entity controlled by a director. The transactions have been recorded at the contractual amount of the consideration established, which represents market rates, as agreed by the related parties. Year ended March 31, 2022 2021 $ $ Revenues* 21,100 — * Under a ten-year commercial agreement, ending in April 2031, an entity controlled by a director has committed to minimum annual gross margin, resulting from the procurement of consulting services, with annual surpluses and/or deficiencies thereof eligible to certain carryover provisions. Should the minimum contracted amounts not be met, the entity will make compensating payments based on a formula as defined in the commercial agreement. The commercial agreement may be extended to April 2034, however the minimum annual gross margin requirements will not be applicable to the extension period. As at March 31, 2022 2021 $ $ Trade accounts receivable 4,287 — |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Mar. 31, 2022 | |
Earnings per share [abstract] | |
Earnings Per Share | EARNINGS PER SHARE Year ended March 31, 2022 2021 $ $ Net loss (15,548) (17,338) Weighted average number of Common Shares outstanding 85,297,843 58,209,375 Basic and diluted loss per share (0.18) (0.30) The potentially dilutive outstanding equity instruments mentioned in Note 12 were not included in the calculation of diluted earnings per share since the Company incurred losses and the inclusion of these equity instruments would have an antidilutive effect. |
Reconciliation of Liabilities A
Reconciliation of Liabilities Arising from Financing Activities | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | |
Reconciliation of Liabilities Arising from Financing Activities | RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES The changes in the Group’s liabilities arising from financing activities can be classified as follows: As at March 31, 2022 March 31, 2021 Current Long-term Total Current Long-term Total $ $ $ $ $ $ Beginning balance 35,134 19,817 54,951 1,143 52,086 53,229 Repayment (42,590) (103,919) (146,509) — (49,867) (49,867) Proceeds — 156,768 156,768 — 53,471 53,471 Total cash flow (42,590) 52,849 10,259 — 3,604 3,604 Acquisitions 38,584 8,887 47,471 — — — Amortization of finance costs — 277 277 — 242 242 Interest accretion on balances of purchase payable — 823 823 — 835 835 PPP loan forgiveness — (5,868) (5,868) — (1,898) (1,898) Impacts of foreign exchange (9) (1,228) (1,237) 270 (1,331) (1,061) Reclassification Credit Facility (note 10) — — — 31,023 (31,023) — Reclassification other long-term debt (11,803) 11,803 — 2,698 (2,698) — Total non cash 26,772 14,694 41,466 33,991 (35,873) (1,882) Ending balance 19,316 87,360 106,676 35,134 19,817 54,951 |
Additional Information on Conso
Additional Information on Consolidated Loss | 12 Months Ended |
Mar. 31, 2022 | |
Profit (loss) [abstract] | |
Additional Information on Consolidated Loss | ADDITIONAL INFORMATION ON CONSOLIDATED LOSS The following table provides additional information on the consolidated loss: Year ended March 31, 2022 2021 $ $ Expenses by Nature Employee compensation and subcontractor costs 411,669 277,980 Government assistance - tax credits (a) (10,870) (6,924) - grants and loan forgiveness (b) (6,234) (6,530) Other miscellaneous expenses 26,005 21,823 Depreciation of property and equipment 2,568 1,861 Depreciation of right-of used assets 2,867 1,906 426,005 290,116 Expenses by Function Cost of revenues 321,732 204,626 Selling, general and administrative expenses 98,838 81,723 Depreciation 5,435 3,767 426,005 290,116 (a) Included in cost of revenues. (b) For the year ended March 31, 2022 , $4,910,000 and $1,324,000 (2021 - $5,363,000 and $1,167,000) were included in cost of revenues and selling, general and administrative expenses, respectively. Certain subsidiaries within the Group have applied for COVID-19 financial relief in Canada under the Canada Emergency Wage Subsidy (“CEWS”) program. The CEWS program is a wage subsidy program launched by the Canadian federal government to qualifying employers to subsidize payroll costs during the COVID-19 pandemic. The qualified subsidy amounts received under the CEWS program are non-repayable. During the year ended March 31, 2022, the subsidiaries recorded, as government grants, subsidies in the amount of $239,000 (2021 - $4,001,000). During the year ended March 31, 2021, Alithya France SAS (formerly Alithya Consulting SAS), a subsidiary located in France, received €410,600 ($632,000), as government grants, pursuant to the French government’s partial activity program. The program is subject to certain annual limits per employee. |
Business acquisition, integrati
Business acquisition, integration and reorganization costs | 12 Months Ended |
Mar. 31, 2022 | |
Business acquisition, integration and reorganization costs [Abstract] | |
Business acquisition, integration and reorganization costs | BUSINESS ACQUISITION, INTEGRATION AND REORGANIZATION COSTS Year ended March 31, 2022 2021 $ $ Acquisition costs 3,964 381 Integration costs 6,808 1,940 Reorganization costs related to modifications to cost structure 845 — 11,617 2,321 The acquisition related costs consisted mainly of professional fees incurred in relation to business acquisitions. Included in integration and reorganization costs related to modifications to cost structure are employee termination and benefits costs of $2,820,000 and $845,000, respectively (2021 - $688,000 and nil). |
Net Financial Expenses
Net Financial Expenses | 12 Months Ended |
Mar. 31, 2022 | |
Financial Expense [Abstract] | |
Net Financial Expenses | NET FINANCIAL EXPENSES The following table summarizes financial expenses: Year ended March 31, 2022 2021 $ $ Interest on long-term debt 2,402 1,185 Interest and financing charges 432 448 Interest on lease liabilities 725 595 Amortization of finance costs 277 242 Interest accretion on balances of purchase payable 823 835 Interest income (80) (31) 4,579 3,274 |
Supplementary Cash Flow Informa
Supplementary Cash Flow Information | 12 Months Ended |
Mar. 31, 2022 | |
Supplementary Cash Flow Information [Abstract] | |
Supplementary Cash Flow Information | SUPPLEMENTARY CASH FLOW INFORMATION Net change in non-cash working capital items is as follows : As at March 31, 2022 2021 $ $ Accounts receivable and other receivables (15,894) (5,289) Income taxes receivable 628 1,450 Unbilled revenues 865 (2,154) Tax credits receivable (5,688) 28 Prepaids (765) (944) Accounts payable and accrued liabilities 17,651 5,504 Deferred revenues 2,083 1,319 (1,120) (86) During the year ended March 31, 2022, non-cash investing and financing activities included the acquisition of leasehold improvements from the lessor as lease incentives in an amount of nil (2021 - $1,326,000) and additions to right-of used assets and lease liabilities in the amount of $67,000 (2021 - nil). During the year ended March 31, 2022, $305,000 included in accounts receivable and other receivables and $849,000 included in right-of-use assets were reclassified to other assets for a total amount of $1,154,000 (2021 - nil). |
Segment and Geographical Inform
Segment and Geographical Information | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of operating segments [abstract] | |
Segment and Geographical Information | SEGMENT AND GEOGRAPHICAL INFORMATION Revenues by geographic location The following table presents total external revenues by geographic location based on location of the external customers: Year ended March 31, 2022 2021 $ % $ % Canada 280,633 64.1 162,764 56.6 U.S. 142,200 32.5 114,608 39.8 International 15,052 3.4 10,271 3.6 437,885 100.0 287,643 100.0 21. SEGMENT AND GEOGRAPHICAL INFORMATION (CONT’D) Long-lived assets by geographic location The following table presents the total net book value of the Group’s long-lived assets by geographic location: As at March 31, 2022 2021 $ % $ % Canada 154,251 56.4 62,172 48.2 U.S. 118,023 43.1 65,784 51.0 International 1,299 0.5 1,107 0.8 273,573 100.0 129,063 100.0 Information about revenues and deferred revenues An analysis of the Group’s revenues from customers for each major service category is as follows: Year ended March 31, 2022 2021 $ % $ % Consulting and support services - time and materials arrangements 382,143 87.3 254,155 88.3 Consulting and support services - fixed-fee arrangements 45,539 10.4 24,099 8.4 Other revenue 10,203 2.3 9,389 3.3 437,885 100.0 287,643 100.0 During the year ended March 31, 2022 and 2021, significantly all amounts included in the opening balance of deferred revenues were recognized as revenue. Major customer |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | FINANCIAL INSTRUMENTSThe Group's financial instruments consist of cash, restricted cash, accounts receivable and other receivables, trade accounts payable and accrued liabilities and long-term debt. The Group, through its financial assets and liabilities, has exposure to the following risks from its use of financial instruments: interest rate risk, credit risk, liquidity risk and currency risk. Senior management and the Board are responsible for setting risk levels and reviewing risk management activities as they determine necessary. 22. FINANCIAL INSTRUMENTS (CONT’D) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group is exposed to fluctuations in interest rates with respect to its variable rate on long-term debts. The interest rate risk profile of the Group's interest-bearing financial instruments was as follows: As at March 31, 2022 2021 $ $ Variable rate financial instruments Credit Facility (note 10) 66,631 31,023 Secured loans (note 10) 8,596 — Other long-term debt (note 10) 120 213 75,347 31,236 For the year ended March 31, 2022, the Group has determined that a reasonably possible increase or decrease of 100 basis point in interest rates of the above variable-rate financial liabilities would not have a significant impact on equity and profit or loss. This analysis assumes that all other variables remain constant, in particular foreign currency exchange rates. It has been performed on the same basis for the year ended March 31, 2021. Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s activities are financed through a combination of cash flows from operations, borrowings under existing Credit Facility, issuance of debt and issuance of equity instruments. In order to manage its exposure to liquidity risk, the Group’s primary goal is to maintain an optimal level of liquidity through an active management of assets and liabilities as well as cash flows. As at March 31, 2022, the Group has an unused capacity of $58,369,000 (2021 - $23,976,000) under its authorized secured senior revolving credit facility of $125,000,000 (2021 - $60,000,000). 22. FINANCIAL INSTRUMENTS (CONT’D) The following table summarizes the carrying amount and the contractual maturities of both the interest and principal portion of significant financial liabilities. As at March 31, 2022 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Accounts payable and accrued liabilities 53,507 53,507 53,507 — — — Credit Facility 66,631 70,775 2,072 2,072 66,631 — Secured loans 8,596 9,060 4,988 4,072 — — Subordinated unsecured loans 17,500 21,773 1,221 1,221 19,331 — Balances of purchase payable, non-interest bearing 13,026 13,419 13,419 — — — Other liabilities (included in long-term debt) 120 120 120 — — — Lease liabilities 21,263 24,045 4,302 4,270 10,244 5,229 180,643 192,699 79,629 11,635 96,206 5,229 As at March 31, 2021 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Accounts payable and accrued liabilities 26,326 26,326 26,326 — — — Credit Facility 31,023 32,008 32,008 — — — Balances of purchase payable, non-interest bearing 15,519 16,739 3,259 13,480 — — Other liabilities (included in long-term debt) 213 213 213 — — — Lease liabilities 15,459 17,866 2,482 2,602 6,756 6,026 88,540 93,152 64,288 16,082 6,756 6,026 22. FINANCIAL INSTRUMENTS (CONT’D) Credit risk Credit risk is the risk of loss due to a counterparty's inability to meet its obligations. At March 31, 2022 and 2021, the Group's credit risk exposure consists mainly of the carrying amount of cash held with major Canadian banks, accounts receivable and other receivables, and unbilled revenues. The carrying amounts of financial assets and unbilled revenues represent the maximum credit exposure. Impairment losses recognized in profit or loss is not significant both in 2022 and 2021. The credit risk in respect of cash balances is minimal as they are held with reputable financial institutions. With respect to trade accounts receivable and unbilled revenues, the Group is exposed to a concentration of credit risk on significant customers. However, this credit risk exposure is mitigated by the relative size and nature of the business carried on by such customers. Also, the Group has a large and diversified client base from clients engaged in various industries, including banks with high credit-rating, government agencies, telecommunications and retails. Historically, the Group has not made any significant write-offs. In order to manage its exposure to credit risk and assess credit quality, the Group established a credit policy under which collection of trade accounts receivable is a priority. Each new customer is analyzed individually for creditworthiness before the Group enters into a contract. The financial stability and liquidity of customers are assessed on a regular basis, which included the review of default risk associated with the industry in which customers operate. No significant adjustments were made to allowance for doubtful accounts in connection with this assessment.The Group also limits its exposure by setting credit limits when deemed necessary. The Group recognizes an impairment loss allowance for expected credit losses (“ECLs”) on trade accounts receivable and unbilled revenues, using an estimate of credit losses. The Company establishes an impairment loss allowance on a collective and individual assessment basis, by considering its historical experience, external indicators and forward- looking information. If actual credit losses differ from estimates, future earnings would be affected. In its assessment of the impairment loss allowance, the Group considered the economic impact resulting from the COVID-19 pandemic on its ECL assessment, including the risk of default of its customers given the continued economic uncertainty. As at March 31, 2022 and 2021, allowance for ECLs was not significant. The following table provides information about the exposure to credit risk for trade accounts receivable: As at March 31, 2022 2021 $ $ Current 70,039 44,375 0-30 days 21,600 17,290 31-60 days 3,072 2,281 61-90 days 1,071 632 Over 90 days 2,507 2,471 98,289 67,049 The unbilled revenues are substantially all current in nature. 22. FINANCIAL INSTRUMENTS (CONT’D) Currency risk The Group is exposed to transactional foreign currency risk to the extent that there is a mismatch between the currencies in which cash, accounts receivables and other receivables, accounts payables and accrued liabilities and borrowings are denominated and the respective functional currencies of Group’s companies. The currencies in which these financial instruments are mainly denominated is USD. Other currencies have no significant impact on the Group’s exposure to currency risk. The summary quantitative data about the Group’s exposure to currency risk for the significant exchange rates is as follow, expressed in Canadian dollars: As at March 31, 2022 2021 $ $ Cash 1,428 681 Accounts receivable and other receivables 34 243 Accounts payable and accrued liabilities (1,599) (1,609) Credit Facility (48,377) (4,023) Net statement of financial position exposure (48,514) (4,708) The following table illustrates the sensitivity of profit and equity in regards to the Group’s financial assets and financial liabilities and the USD/Canadian dollars exchange rate ‘all other things being equal’. It assumes a +/-7% change of the USD/Canadian dollars exchange rate for the year ended March 31, 2022 (2021: +/-17%). This percentage has been determined based on the average market volatility in exchange rate in the previous twelve months. The sensitivity analysis is based on the Group’s foreign currency financial instruments held at each reporting date. Profit or loss Effect in Canadian dollar Strengthening Weakening As at March 31, 2022 USD 7% Movement (2,638) 2,638 As at March 31, 2021 USD 17% Movement (631) 631 Fair Value of Financial Instruments Financial instruments recorded at fair value on the consolidated statements of financial position are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: • Level 1 - Valuation based on quoted prices observed in active markets for identical assets or liabilities. • Level 2 - Valuation techniques based on inputs that are quoted prices of similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; inputs other than quoted prices used in a valuation model that are observable for that instrument; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 - Valuation techniques with significant unobservable market inputs. A financial instrument is classified at the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. 22. FINANCIAL INSTRUMENTS (CONT’D) The carrying amount of cash, restricted cash, accounts receivable and other receivables, accounts payables and accrued liabilities is a reasonable approximation of fair value. The fair value of the long-term debt is estimated by discounting expected cash flows at rates that would be currently offered to the Group for debts of the same remaining maturities and conditions (level 2). For both 2022 and 2021, the Group has determined that the fair value of the Credit Facility, the secured loans, the subordinated unsecured loan and the balances of purchase payable are not significantly different than their carrying amount. The following table summarizes their carrying amount. As at March 31, 2022 2021 $ $ Credit Facility 66,631 31,023 Secured loans 8,596 — Subordinated unsecured loans 17,500 — Balances of purchase payable, non-interest bearing 13,026 15,519 105,753 46,542 |
Capital Disclosures
Capital Disclosures | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Capital Disclosures [Abstract] | |
Capital Disclosure | CAPITAL DISCLOSURES The Group's capital consists of cash, restricted cash, long-term debt and total shareholders’ equity. The Group's main objectives when managing capital are: • to provide a strong capital base in order to maintain shareholder, creditor and stakeholder confidence and to sustain future growth development of the business; • to maintain a flexible capital structure that optimizes the cost of capital at acceptable risk and preserves the ability to meet financial obligations; • to ensure sufficient liquidity to pursue its organic growth strategy and undertake selective acquisitions; and • to provide a rewarding return on investment to shareholders. In managing its capital structure, the Group monitors performance throughout the year to ensure anticipated working capital requirements and maintenance capital expenditures are funded from operations, available cash and availability under the Credit Facility. Alithya manages its capital structure and may make adjustments to it, in order to support the broader corporate strategy or in response to changes in economic conditions and risk. In order to maintain or adjust its capital structure, the Group may purchase shares from existing shareholders, issue new shares, issue new debt, issue new debt to replace existing debt (with different characteristics), or reduce the amount of existing debt. 23. CAPITAL DISCLOSURES (CONT’D) Total capital as at March 31, 2022 and 2021 is calculated as follows: As at March 31, 2022 2021 $ $ Cash (17,655) (6,903) Restricted cash (3,254) (3,233) Current portion of long-term debt 19,316 35,134 Long-term debt 87,360 19,817 Share capital 305,222 197,537 Deficit (111,654) (96,190) Accumulated other comprehensive loss (947) (508) Contributed surplus 7,130 7,173 285,518 152,827 The Group monitors capital using a number of financial metrics, including but not limited to: • the senior debt to Adjusted EBITDA (defined as earnings before income tax expense (recovery) net financial expenses, foreign exchange, depreciation, amortization, share-based compensation and non-recurring costs) ratio, defined as senior debt to 12-month trailing Adjusted EBITDA (as defined in the Credit Facility); • the total debt to Adjusted EBITDA ratio, defined as total debt to 12-month trailing Adjusted EBITDA; and • the fixed charge coverage ratio, defined as Adjusted EBITDA minus taxes, distributions and capital expenditures to aggregate interest expense and regular scheduled principal repayments. The Group uses operating income, Adjusted EBITDA and cash flow from operations as measurements to monitor operating performance. Adjusted EBITDA and Adjusted EBITDA ratio, as presented, are not recognized for financial statement presentation purposes under IFRS, and do not have a standardized meaning. Therefore, they are not likely to be comparable to similar measures presented by other entities. The continued availability of the Credit Facility is subject to the Group’s ability to maintain certain debt service and fixed charge coverage covenants, as well as other affirmative and negative covenants, including certain limitations of distributions in the form of dividends or equity repayments in any given fiscal year, as set out in the credit agreement. The Group is subject to financial covenants pursuant to the credit facility agreement, which are measured on a quarterly basis. The covenants are senior debt to Adjusted EBITDA, total debt to Adjusted EBITDA and fixed charge coverage ratios. The Group was in compliance with all such covenants at March 31, 2022 and 2021. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Events After Reporting Period Explanatory [Abstract] | |
Subsequent Events | SUBSEQUENT EVENT On June 1, 2022, the Company entered into a binding agreement to acquire all of the outstanding shares of the US-based Datum Consulting Group, LLC and its affiliates (“Datum)”(“Datum Acquisition”). The closing of the transaction is expected to take place on July 1, 2022 and is subject to customary conditions for a transaction of this nature, including approval from the Toronto Stock Exchange. The Datum Acquisition will be completed for total consideration of up to US$45,500,000 ($57,500,000), including the assumption of estimated IFRS 16 lease liabilities of US$500,000 ($600,000), subject to working capital and other adjustments. The consideration will consist of: (i) approximately US$13,700,000 ($17,300,000) in cash; (ii) US$4,000,000 ($5,100,000) payable by the issuance of 1,867,262 Subordinate Voting Shares, (iii) deferred cash consideration of approximately US$10,300,000 ($13,000,000) and deferred share consideration of US$4,000,000 ($5,100,000), both payable over three years and (iv) potential earn-out consideration of up to US$13,000,000 ($16,400,000), payable in cash (75%) and shares (25%), based on annual gross profit increases, available over three years. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of Preparation | BASIS OF PREPARATION Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were approved and authorized for issue by the Board of Directors (the “Board”) on June 16, 2022. Basis of Measurement These consolidated financial statements have been prepared under the historical cost basis except for • Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination which are generally measured initially at their fair values at the acquisition date; • Lease obligations, which are initially measured at the present value of the lease payments that are not paid at the lease commencement date; and • Equity classified share-based payment arrangements which are measured at fair value at grant date pursuant to IFRS 2, Share-Based Payment. |
Principles of Consolidation | PRINCIPLES OF CONSOLIDATION Subsidiaries Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed or has the right to variable returns from its relationship with the entity and is able to affect those returns through its power over the activities of the entity. The subsidiaries’ financial statements are included in these consolidated financial statements from the date of commencement of control until the date that control ceases. Subsidiaries’ accounting policies have been adjusted, when necessary, to align with the policies adopted by the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) All intercompany balances and transactions, and any unrealized income and expenses arising from intra company transactions, are eliminated on consolidation. These consolidated financial statements include the accounts of the Company and the accounts of its wholly-owned subsidiaries. All subsidiaries have a reporting date of March 31. The Company’s principal subsidiaries are as follows: 2022 2021 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% Alithya Digital Technology Corporation Ontario, Canada 100% 100% Alithya France SAS France 100% 100% Alithya USA, Inc. Delaware, USA 100% 100% Alithya Financial Solutions, Inc. Delaware, USA 100% 100% Alithya Ranzal LLC Delaware, USA 100% 100% Alithya Zero2Ten, Inc. Delaware, USA 100% 100% Alithya Fullscope Solutions, Inc. Delaware, USA 100% 100% Matricis Informatique Inc. (a) Quebec, Canada 100% 100% Alithya Travercent LLC (a) Texas, USA 100% 100% Alithya Askida Consulting Services Inc. (a) Quebec, Canada — 100% Alithya Askida Solutions Inc. (a) Quebec, Canada — 100% Pro2p Services Conseils Inc. (a) Canada — 100% Alithya Solutions Canada Inc. (a) Canada 100% 100% Alithya IT Services Inc. (a) Canada 100% - Vitalyst, LLC Delaware, USA 100% - Alithya Numérique Maroc SARLAU Maroc 100% - (a) As at March 31, 2022, those subsidiaries were either liquidated, dissolved, amalgamated or transferred all of their assets and liabilities to other companies of the Group. |
Business Combinations | BUSINESS COMBINATIONS The Group accounts for its business combinations using the acquisition method. Under this method the consideration transferred is measured at fair value. Acquisition-related and integration costs associated with the business combination are expensed as incurred. The Group recognizes goodwill as the excess of the cost of the acquisition over the net identifiable tangible and intangible assets acquired and liabilities assumed at their acquisition date fair values and any non-controlling interest in the acquiree. The fair value allocated to tangible and intangible assets acquired and liabilities assumed are based on management’s assumptions, including assumptions that would be made by market participants, acting in their economic best interest. These assumptions include the future expected cash flows arising from the intangible assets identified. The goodwill recognized is composed of the future economic value associated to acquired work force and any identified synergies with the Group’s operations which are primarily due to reduction of costs and new business opportunities. The determination of fair value involves making estimates relating to acquired intangible assets, property and equipment, litigation, provision for estimated losses on revenue-generating contracts, other onerous contracts, tax and other contingency reserves. Estimates include the forecasting of future cash flows and discount rates. Subsequent changes in fair values are adjusted against the cost of acquisition, if they qualify as measurement period adjustments. The measurement period is the period between the date of acquisition and the date where all significant information necessary to determine the fair values is available, not to exceed 12 months. All other subsequent changes are recognized in the consolidated statements of operations. |
Translation of Foreign Currencies | TRANSLATION OF FOREIGN CURRENCIES The Group’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. Each entity in the group determines its own functional currency and items included in the consolidated financial statements of each entity are measured using that functional currency. Functional currency is the currency of the primary economic environment in which the entity operates. Foreign currency transactions and balances Revenue, expenses and non-monetary assets and liabilities denominated in foreign currencies are recorded at the rate of exchange prevailing at the transaction date, except for non-monetary items measured at fair value, which are translated using the exchange rates at the date when the fair value was determined. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates prevailing at the reporting date. Unrealized and realized translation gains and losses, resulting from the settlement of such transactions and from the remeasurement of monetary items denominated in foreign currency, are reflected in the consolidated statements of operations. Foreign operations In the Group’s consolidated financial statements, all assets, liabilities and transactions of Group entities with a functional currency other than the Canadian dollar are translated into Canadian dollars upon consolidation. The functional currencies of entities within the Group have remained unchanged during the reporting period. Upon consolidation, assets and liabilities have been translated into Canadian dollars at the closing rate at the reporting date. Goodwill and fair value adjustments arising from the acquisition of a foreign entity have been treated as assets and liabilities of the foreign entity and translated into Canadian dollars at the closing rate. Revenue and expenses have been translated into Canadian dollars at the average rate over the reporting period. Exchange differences are charged or credited to other comprehensive income and recognized in the currency translation reserve in equity. On disposal of a foreign operation, the related cumulative translation differences recognized in equity are reclassified to the consolidated statements of operations and are recognized as part of the gain or loss on disposal. |
Segmented Reporting | SEGMENTED REPORTING An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to the transactions with any of the Group’s other segments. An entity shall disclose separately information about each operating segment or can combine operating segments, with similar economic characteristics or that do not meet quantitative thresholds to produce a reportable segment, into one reportable segment. The Group has examined its activities and has determined that it has one single reportable segment due to similar characteristics of its operating segments, including similar economic characteristics, the nature of services provided to its customers and types of customers comprising its customer base and the regulatory environment in which the Group operates. |
Revenue Recognition, Unbilled Revenue And Deferred Revenue | REVENUE RECOGNITION, UNBILLED REVENUES AND DEFERRED REVENUES The Group generates revenue principally through the provision of consulting services in the areas of information technology including systems implementation and strategy. These services are provided under arrangements with varying pricing mechanisms. To determine whether to recognize revenue, the Group follows a 5-step process: • Identifying the contract with a customer; • Identifying the performance obligations; • Determining the transaction price; • Allocating the transaction price to the performance obligations; and • Recognizing revenue when/as performance obligation(s) are satisfied. The total transaction price for a contract is allocated amongst the various performance obligations based on their relative standalone selling prices. Revenue is recognized either at a point in time or over time, when (or as) the Group satisfies performance obligations by transferring the promised goods or services to its customers, including variable consideration, such as, discounts, volume rebates, service-level penalties, and incentives. Variable consideration is estimated using either the expected value method or most likely amount method and is included only to the extent it is highly probable that a significant reversal of cumulative revenue recognized will not occur. In making this judgement, management will mostly consider all information available at the time, the Group’s knowledge of the client or the industry, the type of services to be delivered and the specific contractual terms of each arrangement. The Group recognizes contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as deferred revenues in the statement of financial position. Similarly, if the Group satisfies a performance obligation before it receives the consideration, the Group recognizes either an unbilled revenues or a receivable in its statement of financial position, depending on whether something other than the passage of time is required before the consideration is due. Certain of the Group’s arrangements may include client acceptance clauses. Each clause is analyzed to determine whether the earnings process is complete when the service is performed. Formal client sign-off is not always necessary to recognize revenue, provided that the Group objectively demonstrates that the criteria specified in the acceptance provisions are satisfied. Some of the criteria reviewed include historical experience with similar types of arrangements, whether the acceptance provisions are specific to the client or are included in all arrangements, the length of the acceptance term and historical experience with the specific client. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Contract modifications are changes in scope and/or price that are approved by the parties to the contract. Approval may be written, oral or implied by customary business practices, and are legally enforceable. The Group accounts for modifications as a separate contract if the modifications add distinct goods or services that are priced commensurate with standalone selling prices or if the remaining goods or services are distinct from those already transferred, otherwise modifications are accounted for as part of the original contract. Time and materials arrangements – Revenue from consulting and support services and systems implementations under time and materials arrangements is recognized as the services are rendered. Fixed-fee arrangements – Revenue from consulting services and systems implementations under fixed-fee arrangements where the outcome of the arrangements can be estimated reliably is recognized over time based on the measure of progress determined by the Group's efforts or inputs towards satisfying the performance obligation relative to the total expected inputs. The Group primarily uses labour costs or labour hours to measure the progress towards completion. This method relies on estimates of total expected labour costs or total expected labour hours to complete the service, which are compared to labour costs or labour hours incurred to date, to arrive at an estimate of the percentage of revenue earned to date. Management regularly reviews underlying estimates of total expected labour costs or hours. If the outcome of an arrangement cannot be estimated reliably, revenue is recognized to the extent of arrangement costs incurred that are likely to be recoverable. Service based arrangements – The client pays a recurring fee in exchange for a monthly recurring service (typically support). The revenue for these arrangements is recognized over time. Software revenue – Software revenue is generated from the resale of certain third-party off-the-shelf software and maintenance. The majority of the software sold by the Group is delivered electronically. For software that is delivered electronically, the Group considers transfer of control to have occurred when the customer either (a) takes possession of the software via a download (that is, when the customer takes possession of the electronic data on its hardware), or (b) has been provided with access codes that allow the customer to take immediate possession of the software on its hardware pursuant to an agreement or purchase order for the software. In all instances, the resale of third-party software and maintenance is recorded on a net basis. Group created software, and the associated maintenance, is reported on a gross basis, however it is immaterial in all periods presented. Third party software and maintenance revenue are recognized upon delivery of the software, as all related warranty and maintenance is performed by the primary software vendor and not the Group. Subscriptions to learning services, which are available to customers at any times with unlimited use, are recognized over time, on a straight-line basis over the contract term. The Group enters into arrangements with multiple performance obligations which typically include software, post-contract support (or maintenance), and consulting services. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis. The Group has determined standalone selling prices for each of the performance obligations in connection with the evaluation of arrangements with multiple performance obligations. The Group has determined standalone selling prices for consulting services based on a stated and consistent rate per hour range in standalone transactions. The Group has determined standalone selling prices for software through consistent stated rates for software components. The Group has determined standalone selling prices for maintenance based on observable prices for standalone renewals. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Estimated losses on revenue-generating contracts – Estimated losses on revenue-generating contracts may occur due to additional contract costs which were not foreseen at the inception of the contract. Contract losses are measured at the amount by which the estimated incremental costs, including direct labour and material, exceed the estimated total revenue from the contract. The estimated losses on revenue-generating contracts are recognized in the period when it is determined that a loss is probable. The expected loss is first applied to impair the related capitalized contract costs, if any, with the excess recorded under performance obligations in customer contracts in accounts payable and accrued liabilities. Management regularly reviews arrangement profitability and underlying estimates. Unbilled revenues and deferred revenues – Amounts recognized as revenue in excess of billings are classified as unbilled revenues. Amounts received in advance of the performance of services are classified as deferred revenues. |
Financial Instruments | FINANCIAL INSTRUMENTS Recognition and Derecognition Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual provisions of the financial instrument. Financial assets are derecognized when the contractual rights to the cash flows from the financial asset expire, or when the financial asset and substantially all the risks and rewards are transferred. A financial liability is derecognized when it is extinguished, discharged, cancelled or expires. Classification and Initial Measurement of Financial Assets Except for those accounts receivables and other receivables that do not contain a significant financing component and are measured at the transaction price in accordance with IFRS 15, all financial assets are initially measured at fair value adjusted for transaction costs (where applicable). Financial assets, other than those designated and effective as hedging instruments, are classified into the following categories: • amortized cost; • fair value through profit or loss (FVTPL); and • fair value through other comprehensive income (FVOCI). The classification is determined by both: • the entity’s business model for managing the financial asset; and • the contractual cash flow characteristics of the financial asset. All income and expenses relating to financial assets that are recognized in profit or loss are presented within financial expense, except for impairment of accounts receivables and other receivables, which is presented within selling, general and administrative expenses. In the years presented, the Group does not have any financial assets categorized as FVOCI or FVTPL. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Subsequent measurement of financial assets Financial assets at amortized cost Financial assets are measured at amortized cost if the assets meet the following conditions (and are not designated as FVTPL): • they are held within a business model whose objective is to hold the financial assets and collect its contractual cash flows; and • the contractual terms of the financial assets give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding. After initial recognition, these are measured at amortized cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. The Group’s cash, restricted cash and accounts receivable and other receivables fall into this category of financial instruments. Impairment of financial assets and unbilled revenues IFRS 9’s impairment requirements use forward-looking information to recognize expected credit losses – the ‘expected credit loss (ECL) model’. Instruments within the scope of IFRS 9’s impairment requirements included loans and other debt-type financial assets measured at amortized cost and FVOCI, accounts receivables and other receivables and unbilled revenues recognized and measured under IFRS 15 and loan commitments and some financial guarantee contracts (for the issuer) that are not measured at fair value through profit or loss. Expected credit losses are not significant for the Group. The Group considers a range of information when assessing credit risk and measuring expected credit losses, including past events, current conditions, reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument. In applying this forward-looking approach, a distinction is made between: • financial instruments that have not deteriorated significantly in credit quality since initial recognition or that have low credit risk (‘Stage 1’) and • financial instruments that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low (‘Stage 2’). ‘Stage 3’ would cover financial assets that have objective evidence of impairment at the reporting date. ‘12-month expected credit losses’ are recognized for the first category while ‘lifetime expected credit losses’ are recognized for the second category. Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses over the expected life of the financial instrument. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. Accounts Receivable and Other Receivables and Unbilled Revenues The Group makes use of the simplified approach in accounting for accounts receivable and other receivables and unbilled revenues and records the loss allowance as lifetime expected credit losses. These are the expected shortfalls in contractual cash flows, considering the potential for default at any point during the life of the financial instrument. In calculating, the Group uses its historical experience, external indicators and forward-looking information to calculate the expected credit losses using a provision matrix. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) The Group assesses impairment of accounts receivables and other receivables and unbilled revenues based on days past due on a collective basis as customers with similar payment delays possess shared credit risk characteristics. The Group also assesses impairment of accounts receivables and other receivables and unbilled revenues on a customer-by-customer basis based on specific risks identified. Classification and measurement of financial liabilities The Group’s financial liabilities include accounts payable and accrued liabilities and long-term debt. Financial liabilities are initially measured at fair value, and, where applicable, adjusted for transaction costs unless the Group designated a financial liability at fair value through profit or loss. Subsequently, financial liabilities are measured at amortized cost using the effective interest method and financial liabilities designated at FVTPL, which are carried subsequently at fair value with gains or losses recognized in profit or loss. All interest-related charges and, if applicable, changes in an instrument’s fair value are reported in the consolidated statements of operations within financial expenses. Transaction Costs Transaction costs related to loans and receivables and liabilities are considered as part of the carrying value of the asset or liability and are then amortized over the expected life of the instrument using the effective interest rate method. Financial Income and Expenses Financial income includes interest income on cash. Interest income is recognized as it accrues in earnings, using the effective interest method. Financial expenses include interest expense on borrowings, effective interest on non-interesting bearing vendor financing arising from business combinations, amortization of unwinding of the discount on provisions and other interest and bank charges. |
Earnings per Share | EARNINGS PER SHARE Basic earnings (loss) per share is calculated by dividing the net earnings (loss) attributable to the holders of Common Shares (as defined further herein) by the weighted average number of Common Shares outstanding during the period. The net earnings (loss) attributable to the holders of Common Shares corresponds to the net earnings (loss) adjusted by deducting earnings allocated to preferred shares. Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the weighted average number of additional Common Shares that would have been outstanding assuming the conversion of all potential equity instruments, including deferred, restricted and performance share units, if dilutive. Dilutive potential outstanding stock options include the total number of additional Common Shares that would have been issued by the Company assuming stock options with exercise prices below the average market price for the year were exercised and reduced by the number of shares that the Company could have repurchased if it had used the assumed proceeds from the exercise of stock options to repurchase them on the open market at the average share price for the period. “Common Shares” include the Subordinate Voting Shares and Multiple Voting Shares (as defined further herein). |
Restricted Cash | RESTRICTED CASH Restricted cash represents amounts held in trust as required by contractual obligations arising from a business acquisition. Restricted cash that is not expected to become unrestricted within the next twelve months is included in non-current assets on the statements of financial position. |
Government Assistance - Tax Credits | GOVERNMENT ASSISTANCE Certain subsidiaries are eligible for government assistance programs, in the different jurisdictions, in the form of grants, loans and tax credits for the development of e-business. Government assistance is recorded when there is reasonable assurance that the assistance will be received and that the subsidiary will comply with all relevant conditions. Assistance is treated as a reduction in the cost of the related item. In preparing claims, judgment is required in interpreting the regulations related to these programs, determining if the operations of the subsidiaries qualify and identifying and quantifying eligible expenses. These claims are subject to examination and audit by local authorities, who may disagree with interpretations made by the Group. Management estimates the amounts to be received or forgiven under these programs. Final settlements following examinations and audits could be different from amounts recorded and could have a material effect on the financial position or operating results of the Group. |
Property and Equipment ("P&E") | PROPERTY AND EQUIPMENT (“P&E”) Property and equipment are recorded at cost and amortized over their estimated useful lives, using the following methods: Method Rates Furniture, fixtures and equipment Declining balance 20 % Computer equipment Declining balance 30 % Leasehold improvements Straight line Over the term of the lease The residual value, depreciation method and useful life of each asset are reviewed at least once a year, at the reporting date. |
Leases | LEASES The Group as a lessee For any new contracts entered into, the Group considers whether a contract is, or contains a lease. A lease is defined as a “contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration”. To apply this definition, the Group assesses whether the contract meets three key evaluations which are whether: • the contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the Group; • the Group has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract; and • the Group has the right to direct the use of the identified asset throughout the period of use. The Group assesses whether it has the right to direct “how and for what purpose” the asset is used throughout the period of use. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Measurement and recognition of leases as a lessee At lease commencement date, the Group recognizes a right-of-use asset and a lease liability on the statement of financial position. The right-of-use asset is measured at cost, which is made up of the initial measurement of the lease liability, any initial direct costs incurred by the Group, an estimate of any costs to dismantle and remove the asset at the end of the lease, and any lease payments made in advance of the lease commencement date (net of any incentives received). The Group depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The Group also assesses the right-of-use asset for impairment when such indicators exist. At the commencement date, the Group measures the lease liability at the present value of the lease payments unpaid at that date, discounted using the interest rate implicit in the lease if that rate is readily available or the Group’s incremental borrowing rate. Lease payments included in the measurement of the lease liability are made up of fixed payments (including in-substance fixed payments), variable payments based on an index or rate, amounts expected to be payable under a residual value guarantee and payments arising from options reasonably certain to be exercised. Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments. When the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset, or net loss if the right-of-use asset is already reduced to zero. The Group has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognizing a right-of-use asset and lease liability, the payments in relation to these are recognized as an expense in the consolidated statements of operations on a straight-line basis over the lease term. The Group as a lessor As a lessor, the Group classifies its leases as either operating or finance leases. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of the underlying asset, and classified as an operating lease if it does not. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease. |
Intangibles | INTANGIBLES Intangible assets consist mainly of customer relationships, non-compete agreements and internal-use business solutions and software licenses. Internal use business solutions and software licenses (“Software”) are recorded at cost. In addition, internal-use business solutions developed internally are capitalized when they meet specific capitalization criteria related to technical and financial feasibility and when the Group demonstrates its ability and intention to use them. Amortization of internal-use business solutions commences once the solution is available for use. Customer relationships, internal-use business solutions and software licenses acquired through business combinations are initially recorded at their fair value. The Group amortizes its intangible assets using the straight-line method, or a method that reflects the pattern in which the asset’s future economic benefits are expected to be consumed, over their estimated useful lives, as follows : Method Period Customer relationships Straight line/ 3 - 10 years or based on the term of the underlying contracts Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years The residual value, depreciation method and useful life of each asset are reviewed at least once a year, at the reporting date. |
Goodwill | GOODWILL Goodwill represents the excess of the cost of an acquisition over the fair value of the Group's share of the net identifiable assets of the acquired subsidiary at the date of acquisition and it is measured net of accumulated impairment losses. Goodwill is not amortized, but instead tested for impairment annually, or more frequently, should events or changes in circumstances indicate that the goodwill may be impaired. |
Impairment of P&E, Right-of-use Assets, Intangibles and Goodwill | IMPAIRMENT OF P&E, RIGHT-OF-USE ASSETS, INTANGIBLES AND GOODWILL Timing of impairment testing The carrying amounts of the Group's P&E, right-of-use assets, intangible assets and goodwill are reviewed for impairment when events or changes in circumstances indicate that the carrying value may be impaired. At each reporting date, the Group assesses whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated. For goodwill, and intangible assets that have indefinite useful lives or that are not yet available for use, the impairment is tested at least annually, typically as at March 31. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Impairment testing The recoverable amount of an asset or cash-generating unit ("CGU") is the greater of its value in use and its fair value less costs of disposal. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "CGU"). For the purposes of goodwill impairment testing, goodwill acquired in a business combination is allocated to the CGU, or the group of CGUs, that is expected to benefit from the synergies of the combination. This allocation is subject to an operating segment ceiling test and reflects the lowest level at which that goodwill is monitored for internal reporting purposes. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in consolidated statement of operations. Impairment losses recognized in respect of CGUs that include goodwill are allocated first to reduce the carrying amount of any goodwill allocated to the CGUs, and then to reduce the carrying amounts of the other assets in the CGUs (group of CGUs) on a pro rata basis not beyond the highest of: • The fair value less costs of disposal; and • Value in use of the individual asset, if determinable. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. |
Business acquisition, integration and reorganization costs | BUSINESS ACQUISITION, INTEGRATION AND REORGANIZATION COSTS Business acquisition, integration and reorganization costs are comprised of transaction costs related to business acquisitions, whether successful or not, costs of integrating acquired businesses including redundant rent, gains or losses on lease modifications, disposal of non-core assets and transition costs relating to system integrations as well as severance resulting from integrations and significant changes in management structure. |
Provisions | PROVISIONS Provisions are recognized when the Group has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The Group’s provisions may consist of litigation and claim provisions arising in the ordinary course of business and decommissioning liabilities for operating leases of office buildings. The Group may record restructuring provisions related to business combinations and termination of employment costs incurred as part of the Group's productivity improvement initiatives. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted using a current pre-tax rate when the impact of the time value of money is material. The increase in the provision due to the passage of time is recognized as a finance cost. The accrued litigation and legal claim provisions are based on historical experience, current trends and other assumptions that are believed to be reasonable under the circumstances. Estimates include the period in which the underlying cause of the claim occurred and the degree of probability of an unfavorable outcome. In the case of decommissioning liabilities pertaining to operating leases of buildings where certain arrangements require premises to be returned to their original state at the end of the lease term, the provision is determined using the present value of the estimated future cash outflows. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Restructuring provisions, consisting primarily of severance, are recognized when a detailed formal plan identifies the business or part of the business concerned, the location and number of employees affected, a detailed estimate of the associated costs, appropriate timelines and has been communicated to those affected by it. |
Income Taxes | INCOME TAXES Income taxes are accounted for using the liability method of accounting. Current income taxes are recognized with respect to the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred income tax assets and liabilities are determined based on deductible or taxable temporary differences between the amounts reported for financial statement purposes and tax values of the assets and liabilities using enacted or substantively enacted tax rates that will be in effect for the year in which the differences are expected to be recovered or settled. Deferred income tax assets and liabilities are recognized in earnings, other comprehensive income or in equity based on the classification of the item to which they relate. Deferred tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. |
Share Capital | SHARE CAPITAL Subordinate Voting Shares, Multiple Voting Shares and preferred shares that are not redeemable or are redeemable only at the Group's option are classified as equity. Incremental costs directly attributable to the issue of Subordinate Voting Shares, Multiple Voting Shares, preferred shares and stock options are recognized as a deduction from equity, net of any tax effects. Dividends payable by the Company to its shareholders, which are determined at the discretion of the Board and in accordance with the terms of each category of shares (note 12), are recorded when declared. Dividends on Subordinate Voting Shares, Multiple Voting Shares and preferred shares are recognized as distributions within equity. When share capital recognized as equity is purchased for cancellation, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from share capital for the shares' assigned value, any excess being allocated to contributed surplus to the extent that contributed surplus was created by a net excess of proceeds over cost on cancellation or resale of shares of the same class (charged to retained earnings if no contributed surplus for the same class of shares exists), and any discount being assigned to contributed surplus. Eligible employees can purchase Subordinate Voting Shares at the price (fair value) then in effect, in the context of the share purchase plan described in note 12. |
Share-Based Compensation Plans | SHARE-BASED COMPENSATION PLANS Share purchase plan The Company operates a share purchase plan for eligible employees of the Company and its subsidiaries. Under this plan, the Group matches the contributions made by employees up to a maximum percentage of the employee's gross salary. The Group’s contributions to the plan are recognized in salaries within cost of revenues and selling, general and administrative expenses. Normal course issuer bid (“NCIB”) When the Company purchases its own shares for cancellation through its NCIB, the consideration paid, including any directly attributable incremental costs (net of income taxes) is deducted from equity attributable to the Company’s equity holders until the shares are cancelled. When the shares are cancelled, the excess of the consideration paid over the average stated value of the shares purchased for cancellation is charged to the deficit. Long-term incentive plan ("LTIP") The Company operates a LTIP for eligible employees and directors of the Company and its subsidiaries which provides for various types of awards, including equity-settled stock options, deferred share units (“DSUs”), restricted share units (“RSUs”) and performance share units (“PSUs”). The Board, at its discretion, may elect to settle the RSUs and PSUs in the form of a cash payment. The Company accounts for the RSUs and PSUs as equity-settled awards as the Board intends to settle these awards through the issuance of capital stock. The fair value of the share-based expense is based on the grant date fair value of the award expected to vest over the vesting period with a corresponding adjustment through contributed surplus. For stock options the compensation cost is measured using the Black-Scholes option pricing model. For RSUs and DSUs the compensation cost is measured at the fair value of the underlying Subordinate Voting Share at the grant date. The terms and conditions of each PSUs grant, including market and non-market performance goals, are determined by the Board. For the portion of PSUs that are issuable based on market performance conditions, the amount of PSUs recognized as an expense is adjusted based on an estimate of fair value measured using a Monte Carlo model considering market performance conditions at grant date. For the portion of the PSUs that are issuable based on non-market conditions, the amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market performance conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. The determination as to whether the performance goals have been achieved will have been made by the Board. Forfeitures are estimated at the time of the grant and are included in the measurement of the expense and are subsequently adjusted to reflect actual events. For awards with graded vesting, the fair value of each tranche is recognized on a straight-line basis over its vesting period. Any consideration paid by participants on exercise of stock options is credited to share capital together with any related share-based compensation expense originally recorded in contributed surplus. |
Significant Management Judgement in Applying Accounting Policies and Estimation Uncertainty | SIGNIFICANT MANAGEMENT JUDGEMENT IN APPLYING ACCOUNTING POLICIES AND ESTIMATION UNCERTAINTY The preparation of these consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the amounts reported as assets, liabilities, income and expenses in the consolidated financial statements. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which they occur and in any future periods affected. Assessment of COVID-19 impact As a result of measures enacted during fiscal 2022 and 2021 to combat the COVID-19 pandemic, increased uncertainty surrounding global economic conditions and business impacts have occurred. The Group has reviewed its estimates, judgments and assumptions used in the preparation of its consolidated financial statements, including the determination of whether indicators of impairment exist for its tangible and intangible assets, including goodwill, estimated losses on revenue from fixed-fee arrangement contracts, the credit risk of its counterparties, and the estimates and judgments used for the measurement of its deferred tax assets. The potential impacts of the surrounding global economic uncertainties on the Group’s operations and financial conditions and on overall customer demand, may require revisions in future periods to estimates and assumptions. Although management expects COVID-19 related disruptions to continue beyond fiscal 2022, it believes that the Group’s long-term estimates and assumptions do not require further revisions, however management continues to monitor and evaluate the situation and its impact on the Group’s business. Information related to critical judgements required in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following note: Determination of cash generating units – the identification of CGUs and grouping of assets into the respective CGUs is based on currently available information about actual utilization experience and expected future business plans. Management has taken into consideration various factors in identifying its CGUs. These factors include how the Group manages and monitors its operations, the nature of each CGU’s operations, and the major customer markets they serve. As such, the Group has identified its CGUs for purposes of testing the recoverability and impairment of non-financial assets to be: Canada, France, EPM US and ERP US. Determination of the aggregation of operating seg ments – the Group uses judgment in the aggregation of operating segments for financial reporting and disclosure purposes. The Group has examined its activities and has determined that it has one single reportable segment due to similar economic characteristics including the nature of services provided to its customers, types of customers comprising its customer base and the regulatory environment in which the Group operates. Grants, loans and tax credits – the Group is eligible for government assistance programs, in different jurisdictions, which are recorded as a reduction in the cost of the related item when there is reasonable assurance that the assistance will be received and that the Group will comply with all relevant conditions. The Group interprets the regulations related to these programs, determines if the operations of the Group qualify and identifies and quantifies eligible expenses. These claims are subject to examination and audit by local authorities, who may disagree with interpretations made by the Group. These interpretations are used to determine the amounts to be received or forgiven under the programs and are subject to examinations and audits which could reach conclusions that are materially different from amounts recorded by the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Information related to assumptions and estimation uncertainties described below with a significant risk of resulting in material adjustments within the next year are included within the following notes: Revenue recognition of fixed-fee arrangements – the Group recognizes revenues from fixed-fee arrangements which can extend over more than one reporting period. Revenue from these fixed-fee arrangements is recognized over time based on a measure of progress using the Group’s best estimate of the total expected labour costs or total expected labour hours, and the related risks associated with completing the projects. In addition, the determination of anticipated costs for completing a contract is based on estimates that can be affected by a variety of factors, including the cost of materials and labour, as well as potential claims from customers. As risks and uncertainties are different for each project, the sources of variations between anticipated costs and actual costs incurred will also vary by project. The determination of estimates is based on the Group's business practices as well as its historical experience, and is tightly linked to detailed project management processes and controls. The information provided by the project managers combined with a knowledgeable assessment of technical complexities and risks are used in estimating the percentage complete. Impairment of long-lived assets – the Group’s impairment test for goodwill is based on internal estimates of the value-in-use calculations and uses valuation models such as the discounted cash flow model. Key assumptions on which the Group has based its determination of the individual CGUs’ value-in-use include discounted future expected net operating cash flows, estimated long-term growth rates of net operating cash flows and after tax value Weighted Average Cost of Capital (“WACC”) . Changes in these estimates can have a material impact on the recoverable amount calculations and ultimately the amount of any goodwill impairment recognized. Refer to note 8 for additional information on the assumptions used. Business combinations – the Group accounts for business combinations using the acquisition method. The consideration transferred and the acquiree’s identifiable assets, liabilities and contingent liabilities are measured at their fair value. The Group develops the fair value by using appropriate valuation techniques which are generally based on discounted future expected cash flows. These evaluations are linked closely to the assumptions made by the Group and can consist of the future performance of the related assets, the discount rate and the attrition rate. Contingent consideration is measured at fair value using a discounted cash flow model. Deferred tax assets – the Group exercises judgment in the assessment of the probability of future taxable income, to estimate the extent to which deferred income tax assets can be realized. Estimates are based on the Group’s most recent approved budget, which is adjusted for significant non-taxable income and expenses and specific limits to the use of any unused tax loss or credit. The tax rules and tax planning strategies in the numerous jurisdictions in which the Group operates are carefully taken into consideration. The Group uses judgment to assess specific facts and circumstances to evaluate legal, economic or other uncertainties. |
Future Accounting Standards | FUTURE ACCOUNTING STANDARDS At the date of authorization of these consolidated financial statements, certain new standards, amendments and interpretations, and improvements to existing standards have been published by the IASB but are not yet effective and have not been adopted early by the Group. Management anticipates that all the relevant pronouncements will be adopted in the first reporting period following the date of application. Information on new standards, amendments and interpretations, and improvements to existing standards, which could potentially impact the Group’s consolidated financial statements, are detailed as follows: 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) New Standards and Interpretations Issued but Not Yet Effective IAS 1 - Presentation of Financial Statements On January 23, 2020, the IASB issued amendments to IAS 1 - Presentation of Financial Statements, to clarify t he classification of liabilities as current or non-current. In July 2020, the IASB issued final amendments to defer the effective date to annual periods beginning on or after January 1, 2023. Early adoption is permitted. For the purposes of non-current classification, the amendments removed the requirement for a right to defer settlement or roll over of a liability for at least twelve months to be unconditional. Instead, such a right must have substance and exist at the end of the reporting period. The amendments also clarify how a company classifies a liability that includes a counterparty conversion option. The amendments state that: settlement of a liability includes transferring a company’s own equity instruments to the counterparty; and when classifying liabilities as current or non-current, a company can ignore only those conversion options that are recognized as equity. Management is currently assessing, but has not yet determined, the impact of this new standard on the Group’s consolidated financial statements. Amendments to IAS 1 and IFRS Practice Statement 2, Disclosure of Accounting Policy Information In February 2021, the IASB issued amendments to IAS 1 - Presentation of Financial Statements and IFRS Practice Statement 2 - Making Materiality Judgements. The amendments help entities provide accounting policy disclosures that are more useful to primary users of financial statements by: • Replacing the requirement to disclose “significant” accounting policies under IAS 1 with a requirement to disclose “material” accounting policies. Under this, an accounting policy would be material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that primary users of general purpose financial statements make on the basis of those financial statements. • Providing guidance in IFRS Practice Statement 2 to explain and demonstrate the application of the four-step materiality process to accounting policy disclosures. The amendments shall be applied prospectively. The amendments to IAS 1 are effective for annual periods beginning on or after January 1, 2023. Earlier application is permitted. Once an entity applies the amendments to IAS 1, it is also permitted to apply the amendments to IFRS Practice Statement 2. Management is currently evaluating the impact of the amendment on its consolidated financial statements . Amendments to IAS 8, Definition of Accounting Estimates In February 2021, the IASB amended IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors to introduce a new definition of “accounting estimates” to replace the definition of “change in accounting estimates” and also include clarifications intended to help entities distinguish changes in accounting policies from changes in accounting estimates. This distinction is important because changes in accounting policies must be applied retrospectively while changes in accounting estimates are accounted for prospectively. The amendments are effective for annual periods beginning on or after January 1, 2023. Earlier application is permitted. Management is currently evaluating the impact of the amendment on its consolidated financial statements. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Amendments to IAS 37 - Onerous Contracts, Cost of Fulfilling a Contract On May 14, 2020, the IASB published Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37), which specifies which costs a company includes when assessing whether a contract will be loss-making. The amendments are effective for annual periods beginning on or after January 1, 2022 and applicable to contracts existing at the date when the amendments are first applied. At the date of the initial application, the cumulative effect of applying the amendments is recognized as an opening balance adjustment to retained earnings or other components of equity as appropriate. The comparatives are not restated. The Group is currently applying the incremental cost method approach in calculating the costs of fulfilling a contract, however, application of the full cost approach is not expected to have a material impact on the financial statements. Amendments to IAS 12 - Income Taxes On May 7, 2021, the IASB issued amendments to IAS 12 – Income Taxes to narrow the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. As a result, companies will be required to recognize a deferred tax asset and a deferred tax liability for temporary differences arising on initial recognition of a lease and a decommissioning provision. The amendments apply for annual reporting periods beginning on or after January 1, 2023. Earlier application is permitted. Management is currently evaluating the impact of this standard on its consolidated financial statements. Certain other new standards and interpretations have been issued but are not expected to have a material impact on the Group’s consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Primary Subsidiaries | These consolidated financial statements include the accounts of the Company and the accounts of its wholly-owned subsidiaries. All subsidiaries have a reporting date of March 31. The Company’s principal subsidiaries are as follows: 2022 2021 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% Alithya Digital Technology Corporation Ontario, Canada 100% 100% Alithya France SAS France 100% 100% Alithya USA, Inc. Delaware, USA 100% 100% Alithya Financial Solutions, Inc. Delaware, USA 100% 100% Alithya Ranzal LLC Delaware, USA 100% 100% Alithya Zero2Ten, Inc. Delaware, USA 100% 100% Alithya Fullscope Solutions, Inc. Delaware, USA 100% 100% Matricis Informatique Inc. (a) Quebec, Canada 100% 100% Alithya Travercent LLC (a) Texas, USA 100% 100% Alithya Askida Consulting Services Inc. (a) Quebec, Canada — 100% Alithya Askida Solutions Inc. (a) Quebec, Canada — 100% Pro2p Services Conseils Inc. (a) Canada — 100% Alithya Solutions Canada Inc. (a) Canada 100% 100% Alithya IT Services Inc. (a) Canada 100% - Vitalyst, LLC Delaware, USA 100% - Alithya Numérique Maroc SARLAU Maroc 100% - (a) As at March 31, 2022, those subsidiaries were either liquidated, dissolved, amalgamated or transferred all of their assets and liabilities to other companies of the Group. |
Summary of Depreciation Method of Property and Equipment | Property and equipment are recorded at cost and amortized over their estimated useful lives, using the following methods: Method Rates Furniture, fixtures and equipment Declining balance 20 % Computer equipment Declining balance 30 % Leasehold improvements Straight line Over the term of the lease As at March 31, 2022 March 31, 2021 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ $ Cost 1,738 2,889 6,149 10,776 2,333 3,190 5,611 11,134 Additions 56 1,444 219 1,719 553 1,195 1,682 3,430 Additions through business acquisitions (note 3) 79 591 2,120 2,790 — — — — Disposals / retirements — — — — (1,150) (1,217) (1,106) (3,473) Foreign currency translation adjustment 1 1 6 8 2 (279) (38) (315) Subtotal 1,874 4,925 8,494 15,293 1,738 2,889 6,149 10,776 Accumulated depreciation 111 1,100 1,116 2,327 699 1,752 1,511 3,962 Depreciation expense 337 996 1,235 2,568 381 765 715 1,861 Disposals / retirements — — — — (964) (1,188) (1,103) (3,255) Foreign currency translation adjustment — (13) (1) (14) (5) (229) (7) (241) Subtotal 448 2,083 2,350 4,881 111 1,100 1,116 2,327 Net carrying amount 1,426 2,842 6,144 10,412 1,627 1,789 5,033 8,449 |
Summary of Amortization Method of Intangible Assets | The Group amortizes its intangible assets using the straight-line method, or a method that reflects the pattern in which the asset’s future economic benefits are expected to be consumed, over their estimated useful lives, as follows : Method Period Customer relationships Straight line/ 3 - 10 years or based on the term of the underlying contracts Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years As at March 31, 2022 March 31, 2021 Customer relationships Software Non-compete agreements Total Customer Software Non-compete agreements Total $ $ $ $ $ $ $ $ Cost 67,720 4,334 6,902 78,956 73,722 4,377 7,530 85,629 Additions, purchased — 22 — 22 — 7 — 7 Additions through business acquisition (note 3) 78,804 296 — 79,100 — — — — Additions, internally generated — 1,339 — 1,339 — 159 — 159 Disposals / retirements — (999) — (999) (2,933) (29) (237) (3,199) Foreign currency translation adjustment (558) (3) (16) (577) (3,069) (180) (391) (3,640) Subtotal 145,966 4,989 6,886 157,841 67,720 4,334 6,902 78,956 Accumulated amortization 38,033 2,471 1,862 42,366 31,970 1,242 613 33,825 Amortization 11,925 1,007 1,353 14,285 8,996 1,258 1,485 11,739 Disposals / retirements — (737) — (737) (2,933) (29) (236) (3,198) Subtotal 49,958 2,741 3,215 55,914 38,033 2,471 1,862 42,366 Net carrying amount 96,008 2,248 3,671 101,927 29,687 1,863 5,040 36,590 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about business combination [abstract] | |
Summary of Preliminary Allocation of Fair Value of Assets Acquired and Liabilities Assumed | The allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Alithya IT Services Inc. $ Current assets Cash 577 Accounts receivable and other receivables 9,985 Unbilled revenues 7,169 Prepaids 91 17,822 Non-current assets Tax credits receivable 2,053 Property and equipment 2,207 Right-of-use assets 2,982 Intangibles 52,777 Deferred tax assets 763 Goodwill 42,491 Total assets acquired 121,095 Current liabilities Accounts payable and accrued liabilities 15,069 Income taxes payable 155 Deferred revenues 125 Current portion of lease liabilities 592 Current portion of long-term debt 8,887 24,828 Non-current liabilities Lease liabilities 3,620 Deferred tax liabilities 11,084 Total liabilities assumed 39,532 Net assets acquired 81,563 The preliminary allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Vitalyst, LLC $ Current assets Cash 1,116 Accounts receivable and other receivables 6,301 Unbilled revenues 1,101 Prepaids 1,403 9,921 Non-current assets Other assets 157 Property and equipment 583 Right-of-use assets 3,975 Intangibles 26,323 Goodwill 31,498 Total assets acquired 72,457 Current liabilities Accounts payable and accrued liabilities 5,237 Deferred revenues 7,936 Current portion of lease liabilities 1,007 Current portion of long-term debt 38,584 52,764 Non-current liabilities Lease liabilities 3,273 Total liabilities assumed 56,037 Net assets acquired 16,420 |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration Transferred | The following table summarizes the acquisition date fair value of each class of consideration as follows: Acquisition of Alithya IT Services Inc. $ Cash paid 978 Issuance of 25,182,676 Subordinate Voting Shares 80,585 Total consideration transferred 81,563 The following table summarizes the acquisition date fair value of each class of consideration as follows: Acquisition of Vitalyst, LLC $ Cash paid 16,420 Earn-out — Total consideration transferred 16,420 |
Accounts Receivable and Other_2
Accounts Receivable and Other Receivables (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | |
Summary of Accounts Receivable and Other Receivables | As at March 31, 2022 2021 $ $ Trade accounts receivable, net 98,289 67,049 Other receivables 2,578 2,314 100,867 69,363 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of Depreciation Method of Property and Equipment | Property and equipment are recorded at cost and amortized over their estimated useful lives, using the following methods: Method Rates Furniture, fixtures and equipment Declining balance 20 % Computer equipment Declining balance 30 % Leasehold improvements Straight line Over the term of the lease As at March 31, 2022 March 31, 2021 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ $ Cost 1,738 2,889 6,149 10,776 2,333 3,190 5,611 11,134 Additions 56 1,444 219 1,719 553 1,195 1,682 3,430 Additions through business acquisitions (note 3) 79 591 2,120 2,790 — — — — Disposals / retirements — — — — (1,150) (1,217) (1,106) (3,473) Foreign currency translation adjustment 1 1 6 8 2 (279) (38) (315) Subtotal 1,874 4,925 8,494 15,293 1,738 2,889 6,149 10,776 Accumulated depreciation 111 1,100 1,116 2,327 699 1,752 1,511 3,962 Depreciation expense 337 996 1,235 2,568 381 765 715 1,861 Disposals / retirements — — — — (964) (1,188) (1,103) (3,255) Foreign currency translation adjustment — (13) (1) (14) (5) (229) (7) (241) Subtotal 448 2,083 2,350 4,881 111 1,100 1,116 2,327 Net carrying amount 1,426 2,842 6,144 10,412 1,627 1,789 5,033 8,449 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Summary of Right of Use Assets | The following right-of-use assets relate to right-of-use real estate: As at March 31, 2022 March 31, 2021 $ $ Beginning balance 11,118 11,492 Additions 7,117 2,611 Depreciation (2,867) (1,906) Reassessments (a) (161) (830) Lease inducement allowance — 28 Exchange rate effect (61) (277) Net carrying amount 15,146 11,118 (a) During the year, the Group entered into an agreement to sublease a portion of its office space to a subtenant. The sublease resulted in the derecognition of the right-of-use asset associated with the office space and the recognition of short-term lease receivable, included in other receivables, and long-term lease receivable, included in other assets, in the amounts of nil and $849,000, respectively. |
Summary of Lease Liabilities | Lease liabilities As at March 31, 2022 March 31, 2021 $ $ Beginning balance 15,459 13,232 Additions 8,647 2,611 Lease payments (3,413) (1,992) Lease incentives — 2,243 Lease interest 725 595 Reassessments (88) (830) Concession — (110) Exchange rate effect (67) (290) Ending balance 21,263 15,459 Current portion 3,510 1,923 17,753 13,536 |
Contractual Lease Payments Under Lease Liabilities | Contractual lease payments under the lease liabilities as at March 31, 2022 are as follows: As at March 31, 2022 $ Less than one year 4,302 One to two years 4,270 Two to five years 10,244 More than five years 5,229 Total undiscounted lease payments at period end 24,045 |
Amounts Recognized in Net Loss | Amounts recognized in net loss Year ended March 31, 2022 March 31, 2021 $ $ Interest on lease liabilities 725 595 Variable lease payments 2,766 2,487 3,491 3,082 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Summary of Amortization Method of Intangible Assets | The Group amortizes its intangible assets using the straight-line method, or a method that reflects the pattern in which the asset’s future economic benefits are expected to be consumed, over their estimated useful lives, as follows : Method Period Customer relationships Straight line/ 3 - 10 years or based on the term of the underlying contracts Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years As at March 31, 2022 March 31, 2021 Customer relationships Software Non-compete agreements Total Customer Software Non-compete agreements Total $ $ $ $ $ $ $ $ Cost 67,720 4,334 6,902 78,956 73,722 4,377 7,530 85,629 Additions, purchased — 22 — 22 — 7 — 7 Additions through business acquisition (note 3) 78,804 296 — 79,100 — — — — Additions, internally generated — 1,339 — 1,339 — 159 — 159 Disposals / retirements — (999) — (999) (2,933) (29) (237) (3,199) Foreign currency translation adjustment (558) (3) (16) (577) (3,069) (180) (391) (3,640) Subtotal 145,966 4,989 6,886 157,841 67,720 4,334 6,902 78,956 Accumulated amortization 38,033 2,471 1,862 42,366 31,970 1,242 613 33,825 Amortization 11,925 1,007 1,353 14,285 8,996 1,258 1,485 11,739 Disposals / retirements — (737) — (737) (2,933) (29) (236) (3,198) Subtotal 49,958 2,741 3,215 55,914 38,033 2,471 1,862 42,366 Net carrying amount 96,008 2,248 3,671 101,927 29,687 1,863 5,040 36,590 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Annual Impairment Test of Five CGU's | The Group completed the annual impairment test as at March 31, 2022 for its CGUs, which are categorized as follows: As at March 31, 2022 Canada France EPM US ERP US Not allocated (a) Total $ $ $ $ $ $ Beginning balance 34,644 137 8,915 29,210 — 72,906 Business acquisition (note 3) 42,491 — — — 31,498 73,989 Foreign currency translation adjustments — (9) (63) (205) (530) (807) Net carrying amount 77,135 128 8,852 29,005 30,968 146,088 As at March 31, 2021 Canada ADT France EPM US ERP US Total $ $ $ $ $ $ Beginning balance 26,950 7,694 150 10,012 32,802 77,608 Foreign currency translation adjustments — — (13) (1,097) (3,592) (4,702) Net carrying amount 26,950 7,694 137 8,915 29,210 72,906 (a) As at March 31, 2022, the Vitalyst purchase price allocation was preliminary resulting in $30,968,000 of goodwill which has not yet been allocated to a CGU. |
Key Assumptions Used in Impairment Testing by CGU | Key assumptions used in impairment testing by CGU are as follows: As at March 31, 2022 Canada France EPM US ERP US % % % % After tax WACC 11.9 16.7 15.2 15.3 Long-term growth rate of net operating cash flows* 3.4 2.6 2.7 2.7 * The long-term growth rate is based on published industry research. As at March 31, 2021 Canada ADT France EPM US ERP US % % % % % After tax WACC 10.8 11.2 14.6 13.2 13.4 Long-term growth rate of net operating cash flows* 3.4 3.4 4.5 3.4 3.4 * The long-term growth rate is based on published industry research. |
Key Assumptions in the Values of the Recoverable Amount Calculation | Varying the assumptions in the values of the recoverable amount calculation, individually as indicated below, for the year ended March 31, 2022, assuming all other variables remain constant, would result in the recoverable amount being equal to the carrying amount. Incremental increase in after tax WACC Incremental decrease in long-term growth rate of net operating cash flows Basis points Basis points Canada 170 240 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | |
Summary of Accounts Payable and Accrued Liabilities | As at March 31, 2022 2021 $ $ Trade accounts payable 26,604 15,196 Accrued liabilities 26,903 11,130 Accrued compensation 31,396 22,020 Consumption taxes payable 3,694 2,662 Performance obligations in customer contracts 1,013 563 Provision 50 — 89,660 51,571 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about borrowings [abstract] | |
Schedule of Long Term Debt | The following table summarizes the Group’s long-term debt: As at March 31, 2022 2021 $ $ Senior secured revolving credit facility (the "Credit Facility") (a) 66,631 31,023 Secured loans (b) 8,596 — Subordinated unsecured loan (c) 17,500 — Balance of purchase payable with a nominal value of $3,100,000, non-interest bearing (5.8% effective interest rate) payable April 3, 2022 3,100 2,988 Balance of purchase payable with a nominal value of $1,800,000, non-interest bearing (6.0% effective interest rate), payable on October 1, 2022 1,748 1,649 Balance of purchase payable with a nominal value of $8,519,000 ($6,825,000 US), non-interest bearing (6.0% effective interest rate), payable on December 13, 2022 8,178 7,770 Balance of purchase payable with a nominal value of $3,259,000, non-interest bearing (5.7% effective interest rate) payable on February 1, 2022 — 3,112 Unsecured promissory notes (2021 - US$4,800,000) (d) — 6,034 Deferral of employment tax deposits and payments (US$1,219,000 ; 2021 - US$1,878,000) (e) 1,521 2,361 Other 120 213 Unamortized transaction costs (net of accumulated amortization of $754,000 and $477,000) (718) (199) 106,676 54,951 Current portion of long-term debt 19,316 35,134 87,360 19,817 (a) The Credit Facility is available to a maximum amount of $125,000,000 and can be drawn in Canadian and the equivalent amount in U.S. dollars. It is available in prime rate advances, SOFR advances, bankers’ acceptances and letters of credit up to $2,500,000. 10. LONG-TERM DEBT (CONT’D) The advances bear interest at the Canadian or U.S. prime rate, plus an applicable margin ranging from 0.25% to 1.00%, or bankers’ acceptances or SOFR rates, plus an applicable margin ranging from 1.50% to 2.25%, as applicable for Canadian and U.S. advances, respectively. The applicable margin is determined based on threshold limits for certain financial ratios. As security for the Credit Facility, Alithya provided a first ranking hypothec on the universality of its assets excluding any leased equipment and Investissement Québec’s first ranking lien on tax credits receivable for the financing related to refundable tax credits. Under the terms of the agreement, the Group is required to maintain certain financial covenants which are measured on a quarterly basis. The Credit Facility matures on April 1, 2024 and is renewable for additional one (b) On November 24, 2021, the Group entered into secured loans with Investissement Québec to finance its 2021 and 2022 refundable tax credits to a maximum of the lesser of 90% of the eligible refundable tax credit or $4,670,000 and $5,832,000, for 2021 and 2022, respectively. The secured loans bear interest at the Canadian prime rate plus 1.00% and are secured by a first ranking hypothec on the universality of the financed refundable tax credits and a subordinated ranking hypothec on accounts receivable and other receivables. The secured loans are repayable on the earlier of the date of receipt of the refundable tax credits receivable and the maturity dates of March 31, 2023 for the 2021 financed refundable tax credits, in the amount of $4,670,000 and March 31, 2024 for the 2022 financed refundable tax credits, in the amount of $3,926,000. (c) On September 28, 2021, the Group entered into a subordinated unsecured loan, with Investissement Québec, in the amount of $10,000,000, bearing interest ranging between 6.00% and 7.25%, determined and payable quarterly, based on threshold limits for certain financial ratios. Under the terms of the loan, the Group is required to maintain certain financial covenants which are measured on a quarterly basis. On January 28, 2022, the subordinated unsecured loan was amended and increased to $20,000,000, bearing interest ranging between 7.10% and 8.35%, on the additional $10,000,000, determined and payable quarterly, based on threshold limits for certain financial ratios. An amount of $7,500,000 was drawn on the loan availability with the remaining $2,500,000 available based on certain conditions. The maturity date was also extended to October 1, 2025. (a)(c) The Group was in compliance with all of its financial covenants as at March 31, 2022 and 2021. (d) As a result of the COVID-19 pandemic, on May 5, 2020, five U.S. subsidiaries of the Group received funding under the Paycheck Protection Program ("PPP") of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") administered by the U.S. Small Business Administration ("SBA") and entered into unsecured promissory notes (the "Notes") in the aggregate principal amount of US$6,300,000 ($7,932,000). The Notes have a term of five years at an interest rate of 1.00% per annum, with a deferral of payments until the date on which the applicable forgiveness is decisioned, with respect to any portion of the Notes which may not be forgiven. Under the terms of the CARES Act, PPP loan recipients can apply for forgiveness for all or a portion of loans granted under the PPP, which the Group applied for between November 17, 2020 and January 5, 2021. The Group accounts for the forgiveness as government assistance with a corresponding reduction in the cost of the related item (note 17). Such forgiveness is to be determined, subject to limitations and ongoing rule making by the SBA, based on the necessity of the loan at the time of application and the timely use of loan proceeds for payroll costs, including payments required to continue group health care benefits, and certain rent, utility, and mortgage interest costs and the maintenance of employee and compensation levels. The PPP loans, even after notice of forgiveness by the SBA, are subject to subsequent audit by the SBA, for a period of six years after receiving such notice. 10. LONG-TERM DEBT (CONT'D) During the year ended March 31, 2022, the Group recognized an aggregate amount of $5,868,000 (US$4,800,000), and $1,898,000 (US$1,500,000) for the year ended March 31, 2021, as government assistance for the PPP loans. The Group has received full loan forgiveness decisions for all five PPP loans obtained in May 2020. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Major components of tax expense (income) [abstract] | |
Summary of Income Tax Expense (Recovery) | Income tax expense (recovery) for the year is as follows: Year ended March 31, 2022 2021 Current tax expense (recovery) $ $ Current tax expense (recovery) for the year (20) 1,515 Total current tax expense (recovery) (20) 1,515 Deferred tax recovery Origination and reversal of temporary differences (3,007) (3,797) Total deferred tax recovery (3,007) (3,797) Total income tax recovery (3,027) (2,282) |
Summary of Effective Income Tax Rate Differs from Federal and Provincial Statutory Tax Rate | The Group’s effective income tax rate differs from the combined Federal and Provincial Canadian statutory tax rate as follows: Year ended March 31, 2022 2021 % $ % $ Loss before income taxes (18,575) (19,620) Company's statutory tax rate 26.5 (4,922) 26.5 (5,199) Non-deductible share-based compensation expense (3.6) 663 (4.2) 815 Other non-deductible and tax exempt items 1.3 (238) (2.8) 549 Change in unrecognized deferred tax assets (7.2) 1,340 (10.6) 2,076 Other (0.7) 130 2.7 (523) Effective income tax rate 16.3 (3,027) 11.6 (2,282) |
Summary of Deferred Tax Assets and Deferred Tax Liabilities | The amounts recognized in the consolidated statement of financial position consist of: As at March 31, 2022 2021 $ $ Deferred tax liabilities (9,962) (2,980) Deferred tax assets 7,247 7,465 (2,715) 4,485 |
Summary of Movements in Temporary Differences | Movements in temporary differences during the year were as follows: As at March 31, 2022 March 31, 2021 Opening Recognized Recognized in equity Business acquisition Total Opening Recognized Recognized in equity Total $ $ $ $ $ $ $ $ $ Losses available for carryforward and other tax deductions 13,116 2,804 — 1,348 17,268 11,052 2,064 — 13,116 Deferred financing costs 558 (110) 113 15 576 700 (142) — 558 Total deferred tax assets 13,674 2,694 113 1,363 17,844 11,752 1,922 — 13,674 Intangibles and goodwill (6,129) 2,373 — (11,683) (15,439) (7,873) 1,744 — (6,129) Tax credits and other (3,060) (2,060) — — (5,120) (3,284) 131 93 (3,060) Total deferred tax liability (9,189) 313 — (11,683) (20,559) (11,157) 1,875 93 (9,189) Net carrying amount 4,485 3,007 113 (10,320) (2,715) 595 3,797 93 4,485 As at March 31, 2022, net deferred tax assets of $1,127,000 were recognized with respect to entities that incurred losses this fiscal year or the preceding fiscal year. Based upon the level of historical taxable income or projections for future taxable income, management believes it is probable that the Company will realize the benefits of these net deferred tax assets. Losses available for carryforward for which no deferred tax asset was recognized Expiry date Canada $ 2041 663 2042 1,256 1,919 11. INCOME TAXES (CONT’D) Losses available for carryforward for which no deferred tax asset was recognized Expiry date (a) USA $ 2036 1,981 2037 15,739 Indefinite 22,957 40,677 (a) Net operating losses amounting to $24,147,000 of which $15,739,000 will expire in 2037 and $1,981,000 in 2036, are limited due to the U.S. tax rules applicable on the acquisition of Edgewater Technology Inc. In addition, the Company has i) state losses amounting to approximately $29,551,000 (with expiry dates ranging from 2023 to 2042) and ii) net deductible temporary differences totaling approximately $18,884,000 for which no deferred tax benefit has been recognized. |
Share Capital and Dividends (Ta
Share Capital and Dividends (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of classes of share capital [abstract] | |
Summary of Issued Share Capital | As at March 31, 2022, the issued share capital of the Company is as follows: Subordinate Voting Shares Multiple Voting Shares Number of shares $ Number of shares $ Beginning balance as at April 1, 2021 51,373,822 193,552 7,321,616 3,985 Shares issued pursuant to vesting of share-based compensation granted on business acquisitions 834,324 2,935 — — Shares issued in consideration of the acquisition of R3D (note 3) 25,182,676 80,585 — — Shares issued under a private placement 8,143,322 24,686 Shares purchased for cancellation (349,400) (1,244) — — Exercise of stock options 2,750 10 152,632 518 Conversion of shares 302,632 182 (302,632) (182) Settlement of DSUs 63,874 195 — — Ending balance as at March 31, 2022 85,554,000 300,901 7,171,616 4,321 As at March 31, 2021, the issued share capital of the Company is as follows: Subordinate Voting Shares Multiple Voting Shares Number of shares $ Number of shares $ Beginning balance as at April 1, 2020 50,904,533 191,820 7,168,984 3,515 Shares issued pursuant to vesting of share-based compensation granted on business acquisitions 458,071 1,686 — — Exercise of stock options 3,500 14 152,632 470 Settlement of DSUs 7,718 32 — — Ending balance as at March 31, 2021 51,373,822 193,552 7,321,616 3,985 |
Summary of Option Activity | The following table presents information concerning stock option activity for the respective years: Year ended March 31, 2022 March 31, 2021 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price $ $ Beginning balance as at April 1 3,525,181 3.37 3,172,289 3.72 Granted 1,073,302 3.23 755,000 2.26 Forfeited (192,167) 3.57 (130,163) 4.93 Expired (166,852) 6.13 (115,813) 5.93 Exercised (155,382) 1.92 (156,132) 1.92 Ending balance as at March 31 4,084,082 3.23 3,525,181 3.37 Exercisable at year end 1,527,805 3.31 1,580,444 3.44 |
Summary of Weighted Average Assumptions Used for Valuation of Share Options Granted | The assumptions used to determine the 2022 and 2021 stock options grant date fair values using the Black-Scholes stock option pricing model were as follows: Year ended March 31, 2022 2021 Weighted average assumptions Share price $3.23 $2.26 Exercise price $3.23 $2.26 Risk-free interest rate 1.25 % 0.46 % Expected volatility (a) 34.7 % 34.9 % Dividend yield — — Expected option life (years) 6.6 6.6 Vesting conditions – time (years) 3.2 3.3 (a) Determined on the basis of observed volatility in publicly traded companies operating in similar industries. |
Schedule of Share Options Exercise Price Ranges | The following tables summarize the number of stock options outstanding by currency, exercise price and the weighted average remaining exercise period, expressed in number of years: As at March 31, 2022 March 31, 2021 Exercise price range (CAD) Number of options Weighted average Number of options Weighted average $ 1.85 to 2.55 892,896 5.52 1,095,528 5.88 2.56 to 2.95 120,000 3.09 120,000 4.09 2.96 to 3.30 938,702 7.45 182,500 5.01 3.31 to 3.95 673,000 5.71 750,500 6.81 3.96 to 4.55 455,000 6.59 459,000 7.59 3,079,598 6.21 2,607,528 6.30 As at March 31, 2022 March 31, 2021 Exercise price range (USD) Number of options Weighted average Number of options Weighted average $ 1.67 to 2.25 180,000 8.23 185,000 9.24 2.26 to 3.85 818,525 7.12 532,550 6.98 3.86 to 4.45 — — 20,856 0.89 4.59 to 4.85 — — 47,672 0.49 4.90 to 5.45 5,959 0.81 131,575 1.00 1,004,484 7.28 917,653 6.09 |
Summary of DSU Activity | The following table presents information concerning DSU activity for the respective years: Year ended March 31, 2022 2021 Beginning balance as at April 1 330,246 140,885 Granted to non-employee directors 173,149 197,079 Settled (63,874) (7,718) Ending balance as at March 31 439,521 330,246 |
Summary of Share based Compensation | Total share-based compensation expense for the years ended March 31, 2022 and 2021 is summarized as follows: Year ended March 31, 2022 2021 $ $ Stock options 851 700 Share purchase plan – employer contribution 1,138 653 Share-based compensation granted on business acquisitions 1,524 4,051 DSUs 576 523 RSUs 92 314 PSUs 273 — 4,454 6,241 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Commitments And Contingencies [Abstract] | |
Schedule of Operating Commitments | Operating expenditures contracted for at the end of the reporting period but not yet incurred are as follows: Year ended March 31, 2022 Technology licenses, infrastructure and other Total 2023 3,975 2024 2,351 2025 1,073 7,399 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Summary of Compensation Paid or Payable to Directors and to Key Management for Services | The compensation paid or payable to directors and to key management for services is shown below: Year ended March 31, 2022 2021 Director compensation, and key management salaries and benefits* 4,312 4,427 Share-based compensation 1,325 1,273 Termination benefits 317 — 5,954 5,700 * Salaries and benefits include short-term incentive compensation. |
Summary of Operating Transactions with Shareholders | In the normal course of operations, the Group incurred the following transactions with an entity controlled by a director. The transactions have been recorded at the contractual amount of the consideration established, which represents market rates, as agreed by the related parties. Year ended March 31, 2022 2021 $ $ Revenues* 21,100 — * Under a ten-year commercial agreement, ending in April 2031, an entity controlled by a director has committed to minimum annual gross margin, resulting from the procurement of consulting services, with annual surpluses and/or deficiencies thereof eligible to certain carryover provisions. Should the minimum contracted amounts not be met, the entity will make compensating payments based on a formula as defined in the commercial agreement. The commercial agreement may be extended to April 2034, however the minimum annual gross margin requirements will not be applicable to the extension period. As at March 31, 2022 2021 $ $ Trade accounts receivable 4,287 — |
Earnings Per Share (Table)
Earnings Per Share (Table) | 12 Months Ended |
Mar. 31, 2022 | |
Earnings per share [abstract] | |
Earnings Per Share | Year ended March 31, 2022 2021 $ $ Net loss (15,548) (17,338) Weighted average number of Common Shares outstanding 85,297,843 58,209,375 Basic and diluted loss per share (0.18) (0.30) |
Reconciliation of Liabilities_2
Reconciliation of Liabilities Arising from Financing Activities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | |
Reconciliation of Liabilities Arising from Financing Activities | The changes in the Group’s liabilities arising from financing activities can be classified as follows: As at March 31, 2022 March 31, 2021 Current Long-term Total Current Long-term Total $ $ $ $ $ $ Beginning balance 35,134 19,817 54,951 1,143 52,086 53,229 Repayment (42,590) (103,919) (146,509) — (49,867) (49,867) Proceeds — 156,768 156,768 — 53,471 53,471 Total cash flow (42,590) 52,849 10,259 — 3,604 3,604 Acquisitions 38,584 8,887 47,471 — — — Amortization of finance costs — 277 277 — 242 242 Interest accretion on balances of purchase payable — 823 823 — 835 835 PPP loan forgiveness — (5,868) (5,868) — (1,898) (1,898) Impacts of foreign exchange (9) (1,228) (1,237) 270 (1,331) (1,061) Reclassification Credit Facility (note 10) — — — 31,023 (31,023) — Reclassification other long-term debt (11,803) 11,803 — 2,698 (2,698) — Total non cash 26,772 14,694 41,466 33,991 (35,873) (1,882) Ending balance 19,316 87,360 106,676 35,134 19,817 54,951 |
Additional Information on Con_2
Additional Information on Consolidated Loss (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Profit (loss) [abstract] | |
Schedule Of Additional Information On Consolidated Income Loss Explanatory | The following table provides additional information on the consolidated loss: Year ended March 31, 2022 2021 $ $ Expenses by Nature Employee compensation and subcontractor costs 411,669 277,980 Government assistance - tax credits (a) (10,870) (6,924) - grants and loan forgiveness (b) (6,234) (6,530) Other miscellaneous expenses 26,005 21,823 Depreciation of property and equipment 2,568 1,861 Depreciation of right-of used assets 2,867 1,906 426,005 290,116 Expenses by Function Cost of revenues 321,732 204,626 Selling, general and administrative expenses 98,838 81,723 Depreciation 5,435 3,767 426,005 290,116 (a) Included in cost of revenues. (b) For the year ended March 31, 2022 , $4,910,000 and $1,324,000 (2021 - $5,363,000 and $1,167,000) were included in cost of revenues and selling, general and administrative expenses, respectively. |
Business acquisition, integra_2
Business acquisition, integration and reorganization costs (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Business acquisition, integration and reorganization costs [Abstract] | |
Business acquisition, integration and reorganization costs | Year ended March 31, 2022 2021 $ $ Acquisition costs 3,964 381 Integration costs 6,808 1,940 Reorganization costs related to modifications to cost structure 845 — 11,617 2,321 |
Net Financial Expenses (Tables)
Net Financial Expenses (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Financial Expense [Abstract] | |
Summary of Financial Expenses | The following table summarizes financial expenses: Year ended March 31, 2022 2021 $ $ Interest on long-term debt 2,402 1,185 Interest and financing charges 432 448 Interest on lease liabilities 725 595 Amortization of finance costs 277 242 Interest accretion on balances of purchase payable 823 835 Interest income (80) (31) 4,579 3,274 |
Supplementary Cash Flow Infor_2
Supplementary Cash Flow Information (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Supplementary Cash Flow Information [Abstract] | |
Summary of Net Change In Non-Cash Working Capital Items | Net change in non-cash working capital items is as follows : As at March 31, 2022 2021 $ $ Accounts receivable and other receivables (15,894) (5,289) Income taxes receivable 628 1,450 Unbilled revenues 865 (2,154) Tax credits receivable (5,688) 28 Prepaids (765) (944) Accounts payable and accrued liabilities 17,651 5,504 Deferred revenues 2,083 1,319 (1,120) (86) |
Segment and Geographical Info_2
Segment and Geographical Information - (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of operating segments [abstract] | |
Summary of External Revenues and Long-lived Assets by Geographic Location | The following table presents total external revenues by geographic location based on location of the external customers: Year ended March 31, 2022 2021 $ % $ % Canada 280,633 64.1 162,764 56.6 U.S. 142,200 32.5 114,608 39.8 International 15,052 3.4 10,271 3.6 437,885 100.0 287,643 100.0 21. SEGMENT AND GEOGRAPHICAL INFORMATION (CONT’D) Long-lived assets by geographic location The following table presents the total net book value of the Group’s long-lived assets by geographic location: As at March 31, 2022 2021 $ % $ % Canada 154,251 56.4 62,172 48.2 U.S. 118,023 43.1 65,784 51.0 International 1,299 0.5 1,107 0.8 273,573 100.0 129,063 100.0 |
Summary of Revenue from Customers for Major Service Category | An analysis of the Group’s revenues from customers for each major service category is as follows: Year ended March 31, 2022 2021 $ % $ % Consulting and support services - time and materials arrangements 382,143 87.3 254,155 88.3 Consulting and support services - fixed-fee arrangements 45,539 10.4 24,099 8.4 Other revenue 10,203 2.3 9,389 3.3 437,885 100.0 287,643 100.0 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | |
Schedule of Interest Rate Risk Profile of Borrowings | The interest rate risk profile of the Group's interest-bearing financial instruments was as follows: As at March 31, 2022 2021 $ $ Variable rate financial instruments Credit Facility (note 10) 66,631 31,023 Secured loans (note 10) 8,596 — Other long-term debt (note 10) 120 213 75,347 31,236 |
Summary of Carrying Amount and Contractual Maturities of Financial Liabilities | The following table summarizes the carrying amount and the contractual maturities of both the interest and principal portion of significant financial liabilities. As at March 31, 2022 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Accounts payable and accrued liabilities 53,507 53,507 53,507 — — — Credit Facility 66,631 70,775 2,072 2,072 66,631 — Secured loans 8,596 9,060 4,988 4,072 — — Subordinated unsecured loans 17,500 21,773 1,221 1,221 19,331 — Balances of purchase payable, non-interest bearing 13,026 13,419 13,419 — — — Other liabilities (included in long-term debt) 120 120 120 — — — Lease liabilities 21,263 24,045 4,302 4,270 10,244 5,229 180,643 192,699 79,629 11,635 96,206 5,229 As at March 31, 2021 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Accounts payable and accrued liabilities 26,326 26,326 26,326 — — — Credit Facility 31,023 32,008 32,008 — — — Balances of purchase payable, non-interest bearing 15,519 16,739 3,259 13,480 — — Other liabilities (included in long-term debt) 213 213 213 — — — Lease liabilities 15,459 17,866 2,482 2,602 6,756 6,026 88,540 93,152 64,288 16,082 6,756 6,026 |
Disclosure of credit risk | The following table provides information about the exposure to credit risk for trade accounts receivable: As at March 31, 2022 2021 $ $ Current 70,039 44,375 0-30 days 21,600 17,290 31-60 days 3,072 2,281 61-90 days 1,071 632 Over 90 days 2,507 2,471 98,289 67,049 |
Summary of Quantitative Data About Exposure to Currency Risk | The summary quantitative data about the Group’s exposure to currency risk for the significant exchange rates is as follow, expressed in Canadian dollars: As at March 31, 2022 2021 $ $ Cash 1,428 681 Accounts receivable and other receivables 34 243 Accounts payable and accrued liabilities (1,599) (1,609) Credit Facility (48,377) (4,023) Net statement of financial position exposure (48,514) (4,708) |
Summary of Sensitivity Analysis Based on Group's Foreign Currency Financial Instruments | The sensitivity analysis is based on the Group’s foreign currency financial instruments held at each reporting date. Profit or loss Effect in Canadian dollar Strengthening Weakening As at March 31, 2022 USD 7% Movement (2,638) 2,638 As at March 31, 2021 USD 17% Movement (631) 631 |
Financing Liabilities, Carrying Amount | The following table summarizes their carrying amount. As at March 31, 2022 2021 $ $ Credit Facility 66,631 31,023 Secured loans 8,596 — Subordinated unsecured loans 17,500 — Balances of purchase payable, non-interest bearing 13,026 15,519 105,753 46,542 |
Capital Disclosures (Tables)
Capital Disclosures (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure Of Capital Disclosures [Abstract] | |
Summary of Total Capital | Total capital as at March 31, 2022 and 2021 is calculated as follows: As at March 31, 2022 2021 $ $ Cash (17,655) (6,903) Restricted cash (3,254) (3,233) Current portion of long-term debt 19,316 35,134 Long-term debt 87,360 19,817 Share capital 305,222 197,537 Deficit (111,654) (96,190) Accumulated other comprehensive loss (947) (508) Contributed surplus 7,130 7,173 285,518 152,827 |
Governing Statutes And Nature o
Governing Statutes And Nature of Operations - Additional Information (Details) | 12 Months Ended |
Mar. 31, 2022 | |
Governing Statutes And Nature Of Operations [Abstract] | |
Description of nature of entity's operations and principal activities | GOVERNING STATUTES AND NATURE OF OPERATIONSAlithya Group inc. (“Alithya” or the “Company”) and its subsidiaries (collectively with Alithya, the “Group”) are leaders in strategy and digital transformation. Alithya's integrated offer is based on four pillars of expertise: business strategies, enterprise cloud solutions, application services, and data and analytics. The Group deploys solutions, services, and expert consultants to design, build and implement innovative and efficient solutions for the complex business challenges of its clients, tailored to their business needs in the financial services, insurance, renewable energy, manufacturing, telecommunications, transportation and logistics, professional services, healthcare and government sectors.The Company’s Class A subordinate voting shares (the “Subordinate Voting Shares”) trade on the Toronto Stock Exchange (“TSX”) and on the NASDAQ Capital Market (“NASDAQ”) under the symbol “ALYA”.The Company is the Group’s ultimate parent company and its head office is located at 1100, Robert-Bourassa Boulevard, Suite 400, Montréal, Québec, Canada, H3B 3A5. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Primary Subsidiaries (Details) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Alithya Canada Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Canada Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Consulting Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Consulting Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Digital Technology Corporation | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Digital Technology Corporation | |
Name of subsidiary Jurisdiction | Ontario, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya France SAS | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya France SAS | |
Name of subsidiary Jurisdiction | France | |
Percentage Ownership | 100.00% | 100.00% |
Alithya USA, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya USA, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Financial Solutions, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Financial Solutions, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Ranzal LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Ranzal LLC | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Zero2Ten, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Zero2Ten, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Fullscope Solutions, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Fullscope Solutions, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Matricis Informatique Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Matricis Informatique Inc. (a) | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Travercent LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Travercent LLC (a) | |
Name of subsidiary Jurisdiction | Texas, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Askida Consulting Services Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Askida Consulting Services Inc. (a) | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 0.00% | 100.00% |
Alithya Askida Solutions Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Askida Solutions Inc. (a) | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 0.00% | 100.00% |
Pro2p Services Conseils Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Pro2p Services Conseils Inc. (a) | |
Name of subsidiary Jurisdiction | Canada | |
Percentage Ownership | 0.00% | 100.00% |
Alithya Solutions Canada Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Solutions Canada Inc. (a) | |
Name of subsidiary Jurisdiction | Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya IT Services Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya IT Services Inc. (a) | |
Name of subsidiary Jurisdiction | Canada | |
Percentage Ownership | 100.00% | 0.00% |
Vitalyst, LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Vitalyst, LLC | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 0.00% |
Alithya Numérique Maroc SARLAU | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Numérique Maroc SARLAU | |
Name of subsidiary Jurisdiction | Maroc | |
Percentage Ownership | 100.00% | 0.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Depreciation Method of Property and Equipment (Details) | 12 Months Ended |
Mar. 31, 2022 | |
Furniture, fixtures and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method of property plant and equipment | Declining balance |
Depreciation Rates | 20.00% |
Computer equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method of property plant and equipment | Declining balance |
Depreciation Rates | 30.00% |
Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method of property plant and equipment | Straight line |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Amortization Method of Intangible Assets (Details) | 12 Months Ended |
Mar. 31, 2022 | |
Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Amortisation method of intangible assets | Straight line/Economic consumption |
Customer relationships | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 3 years |
Customer relationships | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 10 years |
Non-compete agreements | |
Disclosure of detailed information about intangible assets [line items] | |
Amortisation method of intangible assets | Straight line |
Non-compete agreements | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 3 years |
Non-compete agreements | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 10 years |
Software | |
Disclosure of detailed information about intangible assets [line items] | |
Amortisation method of intangible assets | Straight line |
Estimated useful lives of intangible assets | 3 years |
Business Combinations - Alithya
Business Combinations - Alithya IT Services Inc. (Details) - CAD ($) $ / shares in Units, $ in Thousands | Apr. 01, 2021 | Dec. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of detailed information about business combination [line items] | ||||
Business acquisition, integration and reorganization costs | $ 11,617 | $ 2,321 | ||
Alithya IT Services Inc. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Consideration paid | $ 978 | |||
Accounts payable and accrued liabilities as of acquisition date | 45 | |||
Current portion of long-term debt | $ 8,887 | |||
Acquisition related costs | $ 1,646 | |||
Revenue from business acquired | $ 51,002 | |||
Amortisation expense | 3,805 | |||
Profit (loss) from business acquired | (4,595) | |||
Business acquisition, integration and reorganization costs | $ 3,683 | |||
Alithya IT Services Inc. | Subordinate Voting Shares | ||||
Disclosure of detailed information about business combination [line items] | ||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | 25,182,676 | |||
Share price | $ 3.20 |
Business Combinations - Summary
Business Combinations - Summary of Preliminary Allocation of Fair Value of Assets Acquired and Liabilities Assumed (Details) - CAD ($) $ in Thousands | Jan. 31, 2022 | Apr. 01, 2021 |
Alithya IT Services Inc. | ||
Disclosure of detailed information about business combination [line items] | ||
Cash | $ 577 | |
Accounts receivable and other receivables | 9,985 | |
Unbilled revenues | 7,169 | |
Prepaids | 91 | |
Current assets | 17,822 | |
Tax credits receivable | 2,053 | |
Property and equipment | 2,207 | |
Right-of-use assets | 2,982 | |
Intangibles | 52,777 | |
Deferred tax assets | 763 | |
Goodwill | 42,491 | |
Total assets acquired | 121,095 | |
Accounts payable and accrued liabilities | 15,069 | |
Income taxes payable | 155 | |
Deferred revenues | 125 | |
Current portion of lease liabilities | 592 | |
Current portion of long-term debt | 8,887 | |
Current liabilities | 24,828 | |
Lease liabilities | 3,620 | |
Deferred tax liabilities | 11,084 | |
Total liabilities assumed | 39,532 | |
Net assets acquired | $ 81,563 | |
Vitalyst, LLC | ||
Disclosure of detailed information about business combination [line items] | ||
Cash | $ 1,116 | |
Accounts receivable and other receivables | 6,301 | |
Unbilled revenues | 1,101 | |
Prepaids | 1,403 | |
Current assets | 9,921 | |
Other assets | 157 | |
Property and equipment | 583 | |
Right-of-use assets | 3,975 | |
Intangibles | 26,323 | |
Goodwill | 31,498 | |
Total assets acquired | 72,457 | |
Accounts payable and accrued liabilities | 5,237 | |
Deferred revenues | 7,936 | |
Current portion of lease liabilities | 1,007 | |
Current portion of long-term debt | 38,584 | |
Current liabilities | 52,764 | |
Lease liabilities | 3,273 | |
Total liabilities assumed | 56,037 | |
Net assets acquired | $ 16,420 |
Business Combinations - Summa_2
Business Combinations - Summary of Acquisition Date Fair Value of Each Major Class of Consideration Transferred (Details) $ in Thousands, $ in Thousands | Jan. 31, 2022CAD ($) | Jan. 31, 2022USD ($) | Apr. 01, 2021CAD ($) |
Alithya IT Services Inc. | |||
Disclosure of detailed information about business combination [line items] | |||
Cash paid | $ 978 | ||
Issuance of shares | 80,585 | ||
Total consideration transferred | $ 81,563 | ||
Vitalyst, LLC | |||
Disclosure of detailed information about business combination [line items] | |||
Cash paid | $ 16,420 | $ 12,933 | |
Earn-out | 0 | ||
Total consideration transferred | $ 16,420 |
Business Combinations - Vitalys
Business Combinations - Vitalyst LLC (Details) $ in Thousands, $ in Thousands | Jan. 31, 2022CAD ($) | Jan. 31, 2022USD ($) | Dec. 31, 2021CAD ($) | Mar. 31, 2022CAD ($) | Mar. 31, 2021CAD ($) | Jan. 31, 2022USD ($) |
Disclosure of detailed information about business combination [line items] | ||||||
Revenues | $ 437,885 | $ 287,643 | ||||
Vitalyst, LLC | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Consideration paid | $ 57,592 | $ 45,362 | ||||
Accounts payable and accrued liabilities as of acquisition date | 2,893 | $ 2,279 | ||||
Long-term Debt Recognized as of Acquisition Date | 38,279 | 30,150 | ||||
Acquisition related costs | 1,652 | 1,693 | ||||
Potential contingent consideration recognized as of acquisition date | 1,270 | 1,000 | ||||
Cash consideration for acquisition | $ 16,420 | $ 12,933 | ||||
Revenue from business acquired | 4,980 | |||||
Profit (loss) from business acquired | $ 5,715 | 1,219 | ||||
Amortisation expense | $ 569 | |||||
Revenues | $ 31,427 |
Accounts Receivable And Other_3
Accounts Receivable And Other Receivables - Summary of Accounts Receivable and Other Receivable (Details) - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | ||
Trade accounts receivable, net | $ 98,289 | $ 67,049 |
Other receivables | 2,578 | 2,314 |
Trade and other current receivables | $ 100,867 | $ 69,363 |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | $ 8,449 | |
Depreciation, property, plant and equipment | 2,568 | $ 1,861 |
Disposals / retirements | 0 | (3,255) |
Subtotal | 10,412 | 8,449 |
Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 10,776 | 11,134 |
Additions | 1,719 | 3,430 |
Additions through business acquisitions (note 3) | 2,790 | 0 |
Disposals / retirements | 0 | (3,473) |
Foreign currency translation adjustment | 8 | (315) |
Subtotal | 15,293 | 10,776 |
Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (2,327) | (3,962) |
Depreciation, property, plant and equipment | 2,568 | 1,861 |
Foreign currency translation adjustment | (14) | (241) |
Subtotal | (4,881) | (2,327) |
Furniture, fixtures and equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 1,627 | |
Disposals / retirements | 0 | (964) |
Subtotal | 1,426 | 1,627 |
Furniture, fixtures and equipment | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 1,738 | 2,333 |
Additions | 56 | 553 |
Additions through business acquisitions (note 3) | 79 | 0 |
Disposals / retirements | 0 | (1,150) |
Foreign currency translation adjustment | 1 | 2 |
Subtotal | 1,874 | 1,738 |
Furniture, fixtures and equipment | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (111) | (699) |
Depreciation, property, plant and equipment | 337 | 381 |
Foreign currency translation adjustment | 0 | (5) |
Subtotal | (448) | (111) |
Computer equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 1,789 | |
Disposals / retirements | 0 | (1,188) |
Subtotal | 2,842 | 1,789 |
Computer equipment | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 2,889 | 3,190 |
Additions | 1,444 | 1,195 |
Additions through business acquisitions (note 3) | 591 | 0 |
Disposals / retirements | 0 | (1,217) |
Foreign currency translation adjustment | 1 | (279) |
Subtotal | 4,925 | 2,889 |
Computer equipment | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (1,100) | (1,752) |
Depreciation, property, plant and equipment | 996 | 765 |
Foreign currency translation adjustment | (13) | (229) |
Subtotal | (2,083) | (1,100) |
Leasehold improvements | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 5,033 | |
Disposals / retirements | 0 | (1,103) |
Subtotal | 6,144 | 5,033 |
Leasehold improvements | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 6,149 | 5,611 |
Additions | 219 | 1,682 |
Additions through business acquisitions (note 3) | 2,120 | 0 |
Disposals / retirements | 0 | (1,106) |
Foreign currency translation adjustment | 6 | (38) |
Subtotal | 8,494 | 6,149 |
Leasehold improvements | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (1,116) | (1,511) |
Depreciation, property, plant and equipment | 1,235 | 715 |
Foreign currency translation adjustment | (1) | (7) |
Subtotal | $ (2,350) | $ (1,116) |
Leases - Right-of-use Assets (D
Leases - Right-of-use Assets (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||
Beginning balance | $ 11,118,000 | $ 11,492,000 |
Additions | 7,117,000 | 2,611,000 |
Depreciation | (2,867,000) | (1,906,000) |
Reassessments | (161,000) | (830,000) |
Lease inducement allowance | 0 | 28,000 |
Exchange rate effect | (61,000) | (277,000) |
Net carrying amount | 15,146,000 | 11,118,000 |
Lease receivables | $ 0 | $ 849,000 |
Leases - Lease Liabilities (Det
Leases - Lease Liabilities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||
Beginning balance | $ 15,459 | |
Additions | 8,647 | $ 2,611 |
Lease payments | (3,413) | (1,992) |
Lease Incentive | 0 | 2,243 |
Lease interest | 725 | 595 |
Reassessments | (88) | (830) |
Concession | 0 | (110) |
Exchange rate effect | (67) | (290) |
Ending balance | 21,263 | 15,459 |
Current portion | 3,510 | 1,923 |
Non-current portion | $ 17,753 | $ 13,536 |
Leases - Contractual Lease Paym
Leases - Contractual Lease Payments (Details) $ in Thousands | Mar. 31, 2022CAD ($) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | $ 24,045 |
Less than one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 4,302 |
One to two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 4,270 |
Two to five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 10,244 |
Later than five years [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | $ 5,229 |
Leases - Amounts Recognized in
Leases - Amounts Recognized in Net Loss (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||
Interest on lease liabilities | $ 725,000 | $ 595,000 |
Variable lease payments | 2,766,000 | 2,487,000 |
Amounts recognized in net loss | 3,491,000 | 3,082,000 |
Total cash outflow for leases | $ 6,179,000 | $ 4,479,000 |
Intangibles - Summary of Intang
Intangibles - Summary of Intangible Assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | $ (101,927) | $ (36,590) | |
Intangible Assets, Net Carrying Amount | 101,927 | 36,590 | |
Disposals / retirements | (737) | (3,198) | |
Intangible assets other than goodwill, subtotal | 55,914 | 42,366 | |
Amortization of intangibles | 14,285 | 11,739 | |
Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (157,841) | (78,956) | $ (85,629) |
Additions, purchased | 22 | 7 | |
Additions through business acquisitions | 79,100 | 0 | |
Additions, internally generated | 1,339 | 159 | |
Disposals / retirements | (999) | (3,199) | |
Foreign currency translation adjustment | (577) | (3,640) | |
Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill, accumulated amortisation | (42,366) | (33,825) | |
Amortization of intangibles | 14,285 | 11,739 | |
Customer relationships | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 96,008 | 29,687 | |
Disposals / retirements | 0 | (2,933) | |
Intangible assets other than goodwill, subtotal | 49,958 | 38,033 | |
Customer relationships | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (145,966) | (67,720) | (73,722) |
Additions, purchased | 0 | 0 | |
Additions through business acquisitions | 78,804 | 0 | |
Additions, internally generated | 0 | 0 | |
Disposals / retirements | 0 | (2,933) | |
Foreign currency translation adjustment | (558) | (3,069) | |
Customer relationships | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill, accumulated amortisation | (38,033) | (31,970) | |
Amortization of intangibles | 11,925 | 8,996 | |
Software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 2,248 | 1,863 | |
Disposals / retirements | (737) | (29) | |
Intangible assets other than goodwill, subtotal | 2,741 | 2,471 | |
Software | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (4,989) | (4,334) | (4,377) |
Additions, purchased | 22 | 7 | |
Additions through business acquisitions | 296 | 0 | |
Additions, internally generated | 1,339 | 159 | |
Disposals / retirements | (999) | (29) | |
Foreign currency translation adjustment | (3) | (180) | |
Software | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill, accumulated amortisation | (2,471) | (1,242) | |
Amortization of intangibles | 1,007 | 1,258 | |
Non-competition Agreements | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 3,671 | 5,040 | |
Disposals / retirements | 0 | (236) | |
Intangible assets other than goodwill, subtotal | 3,215 | 1,862 | |
Non-competition Agreements | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (6,886) | (6,902) | (7,530) |
Additions, purchased | 0 | 0 | |
Additions through business acquisitions | 0 | 0 | |
Additions, internally generated | 0 | 0 | |
Disposals / retirements | 0 | (237) | |
Foreign currency translation adjustment | (16) | (391) | |
Non-competition Agreements | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill, accumulated amortisation | (1,862) | $ (613) | |
Amortization of intangibles | $ 1,353 | $ 1,485 |
Goodwill - Annual Impairment Te
Goodwill - Annual Impairment Test of Five CGU's (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | $ 72,906 | |
Net carrying amount | 146,088 | $ 72,906 |
Cash Generating Units | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 72,906 | 77,608 |
Business acquisition (note 3) | 73,989 | |
Foreign currency translation adjustments | (807) | (4,702) |
Net carrying amount | 146,088 | 72,906 |
Cash Generating Units | Canada | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 26,950 | 26,950 |
Foreign currency translation adjustments | 0 | |
Net carrying amount | 26,950 | |
Cash Generating Units | Canada | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 34,644 | |
Business acquisition (note 3) | 42,491 | |
Foreign currency translation adjustments | 0 | |
Net carrying amount | 77,135 | 34,644 |
Cash Generating Units | ADT | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 7,694 | 7,694 |
Foreign currency translation adjustments | 0 | |
Net carrying amount | 7,694 | |
Cash Generating Units | France | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 137 | 150 |
Business acquisition (note 3) | 0 | |
Foreign currency translation adjustments | (9) | (13) |
Net carrying amount | 128 | 137 |
Cash Generating Units | US | EPM US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 8,915 | 10,012 |
Business acquisition (note 3) | 0 | |
Foreign currency translation adjustments | (63) | (1,097) |
Net carrying amount | 8,852 | 8,915 |
Cash Generating Units | US | ERP US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 29,210 | 32,802 |
Business acquisition (note 3) | 0 | |
Foreign currency translation adjustments | (205) | (3,592) |
Net carrying amount | 29,005 | 29,210 |
Cash Generating Units | Not Allocated | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 0 | |
Business acquisition (note 3) | 31,498 | |
Foreign currency translation adjustments | (530) | |
Net carrying amount | $ 30,968 | $ 0 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used in Impairment Testing by CGU (Details) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Percentage Incremental Increase Of After Tax W A C C | 170.00% | |
Percentage Of Incremental Increase Long Term Growth Rate Of Net Operating Cash Flows | 240.00% | |
Cash Generating Units | Canada | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 11.90% | 10.80% |
Long-term growth rate of net operating cash flows | 3.40% | 3.40% |
Cash Generating Units | ADT | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 11.20% | |
Long-term growth rate of net operating cash flows | 3.40% | |
Cash Generating Units | France | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 16.70% | 14.60% |
Long-term growth rate of net operating cash flows | 2.60% | 4.50% |
Cash Generating Units | US | EPM US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 15.20% | 13.20% |
Long-term growth rate of net operating cash flows | 2.70% | 3.40% |
Cash Generating Units | US | ERP US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 15.30% | 13.40% |
Long-term growth rate of net operating cash flows | 2.70% | 3.40% |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | ||
Trade accounts payable | $ 26,604 | $ 15,196 |
Accrued liabilities | 26,903 | 11,130 |
Accrued compensation | 31,396 | 22,020 |
Consumption taxes payable | 3,694 | 2,662 |
Performance obligations in customer contracts | 1,013 | 563 |
Provision | 50 | 0 |
Accounts payable and accrued liabilities | $ 89,660 | $ 51,571 |
Long-term Debt - Schedule of Lo
Long-term Debt - Schedule of Long Term Debt (Details) | Mar. 31, 2022CAD ($) | Mar. 31, 2022USD ($) | Mar. 31, 2021CAD ($) | Mar. 31, 2021USD ($) |
Disclosure of detailed information about borrowings [line items] | ||||
Accumulated amortization | $ 754,000 | $ 477,000 | ||
Deferral of employment tax deposits and payments | 1,521,000 | $ 1,219,000 | 2,361,000 | $ 1,878,000 |
Other | 120,000 | 213,000 | ||
Unamortized transaction costs (net of accumulated amortization of $754,000 and $477,000) | (718,000) | (199,000) | ||
Borrowings | 106,676,000 | 54,951,000 | ||
Current portion of long-term debt | 19,316,000 | 35,134,000 | ||
Long-term debt | 87,360,000 | 19,817,000 | ||
Senior secured revolving credit facility (the "Credit Facility") | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Senior secured revolving credit facility (the “Credit Facility”) | 66,631,000 | 31,023,000 | ||
Secured loans | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Senior secured revolving credit facility (the “Credit Facility”) | 8,596,000 | 0 | ||
Secured and subordinated loans | 8,596,000 | 0 | ||
Subordinated unsecured loan | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Secured and subordinated loans | 17,500,000 | 0 | ||
Maturity April 3, 2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, nominal value | $ 3,100,000 | |||
Interest rate | 5.80% | 5.80% | ||
Balance of purchase payable with a nominal value | $ 3,100,000 | 2,988,000 | ||
Maturity October 1, 2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, nominal value | $ 1,800,000 | |||
Interest rate | 6.00% | 6.00% | ||
Balance of purchase payable with a nominal value | $ 1,748,000 | 1,649,000 | ||
Maturity December 13, 2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, nominal value | $ 8,519,000 | $ 6,825,000 | ||
Interest rate | 6.00% | 6.00% | ||
Balance of purchase payable with a nominal value | $ 8,178,000 | 7,770,000 | ||
Maturity February 1, 2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, nominal value | $ 3,259,000 | |||
Interest rate | 5.70% | 5.70% | ||
Balance of purchase payable with a nominal value | $ 0 | 3,112,000 | ||
Unsecured Promissory Notes | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, nominal value | 4,800,000 | |||
PPP Loan | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Unsecured promissory notes | $ 0 | $ 6,034,000 |
Long-term Debt - Schedule of _2
Long-term Debt - Schedule of Long Term Debt Footnotes (Details) | 12 Months Ended | ||||||||
Mar. 31, 2022CAD ($) | Mar. 31, 2021CAD ($) | Mar. 31, 2022USD ($) | Jan. 28, 2022CAD ($) | Dec. 31, 2021 | Nov. 24, 2021 | Sep. 28, 2021CAD ($) | Mar. 31, 2021USD ($) | May 05, 2020subsidiary | |
Disclosure of detailed information about borrowings [line items] | |||||||||
Optional renewal period term | 1 year | ||||||||
Percentage of eligible refundable tax credit | 90.00% | ||||||||
Advance drawn amount | $ 5,832,000 | $ 4,670,000 | |||||||
Maximum tax credits receivable for financing related to refundable tax credits | $ 3,926,000 | 4,670,000 | |||||||
PPP, number of subsidiaries receiving funding | subsidiary | 5 | ||||||||
Deferred securities taxes paid, percent | 50.00% | ||||||||
Canadian or US prime rate | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Interest rate | 1.00% | 1.00% | |||||||
Canadian or US prime rate | Bottom of range | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Percentage added to reference rate | 0.25% | 0.25% | |||||||
Canadian or US prime rate | Top of range | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Percentage added to reference rate | 1.00% | 1.00% | |||||||
Bankers’ acceptances or LIBOR rates | Bottom of range | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Percentage added to reference rate | 1.50% | 1.50% | |||||||
Bankers’ acceptances or LIBOR rates | Top of range | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Percentage added to reference rate | 2.25% | 2.25% | |||||||
Credit Facility | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Maximum amount available | $ 125,000,000 | ||||||||
Letters Of Credit | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Maximum amount available | 2,500,000 | ||||||||
Subordinated unsecured loan | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Maximum amount available | $ 20,000,000 | ||||||||
Aggregate principal amount | $ 10,000,000 | ||||||||
Additional Borrowings | $ 10,000,000 | ||||||||
Subordinated unsecured loan | Bottom of range | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Interest rate | 7.10% | 6.00% | |||||||
Subordinated unsecured loan | Top of range | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Interest rate | 8.35% | 7.25% | |||||||
First Draw on Subordinated Unsecured Loan | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Advance drawn amount | $ 7,500,000 | ||||||||
Second Draw on Subordinated Unsecured Loan | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Advance drawn amount | $ 2,500,000 | ||||||||
PPP And Cares Act Covid-19 Loans | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Borrowings, nominal value | 7,932,000 | $ 6,300,000 | |||||||
Recognized as government assistance | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Borrowings, nominal value | $ 5,868,000 | $ 1,898,000 | $ 4,800,000 | $ 1,500,000 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense (Recovery) (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Current tax expense (recovery) | ||
Current tax expense (recovery) for the year | $ (20) | $ 1,515 |
Total current tax expense (recovery) | (20) | 1,515 |
Deferred tax recovery | ||
Origination and reversal of temporary differences | (3,007) | (3,797) |
Total deferred tax recovery | (3,007) | (3,797) |
Total tax expense (income) | $ (3,027) | $ (2,282) |
Income Taxes - Disclosure of Ef
Income Taxes - Disclosure of Effective Income Tax Rate Differs from Federal and Provincial Statutory Tax Rate (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Percent | ||
Company's statutory tax rate | 26.50% | 26.50% |
Non-deductible share-based compensation expense | (3.60%) | (4.20%) |
Other non-deductible and tax exempt items | 1.30% | (2.80%) |
Change in unrecognized deferred tax assets | (7.20%) | (10.60%) |
Other | (0.70%) | 2.70% |
Total average effective tax rate | 16.30% | 11.60% |
Amount | ||
Loss before income taxes | $ (18,575) | $ (19,620) |
Company's statutory tax rate | (4,922) | (5,199) |
Non-deductible share-based compensation expense | 663 | 815 |
Other non-deductible and tax exempt items | (238) | 549 |
Change in unrecognized deferred tax assets | 1,340 | 2,076 |
Other | 130 | (523) |
Total tax expense (income) | $ (3,027) | $ (2,282) |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Deferred Tax Liabilities (Details) - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Major components of tax expense (income) [abstract] | ||
Deferred tax liabilities | $ (9,962) | $ (2,980) |
Deferred tax assets | 7,247 | 7,465 |
Total | $ (2,715) | $ 4,485 |
Income Taxes - Summary of Movem
Income Taxes - Summary of Movements in Temperory Differences (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | $ 4,485 | |
Recognized in equity | (3,007) | $ (3,797) |
Total | (2,715) | 4,485 |
Net deferred tax assets | 1,127 | |
Deferred Tax Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 13,674 | 11,752 |
Recognized in earning | 2,694 | 1,922 |
Recognized in equity | 113 | 0 |
Business acquisition | 1,363 | |
Total | 17,844 | 13,674 |
Deferred Tax Assets | Losses available for carryforward and other tax deductions | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 13,116 | 11,052 |
Recognized in earning | 2,804 | 2,064 |
Recognized in equity | 0 | 0 |
Business acquisition | 1,348 | |
Total | 17,268 | 13,116 |
Deferred Tax Assets | Deferred financing costs | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 558 | 700 |
Recognized in earning | (110) | (142) |
Recognized in equity | 113 | 0 |
Business acquisition | 15 | |
Total | 576 | 558 |
Deferred Tax Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (9,189) | (11,157) |
Recognized in earning | 313 | 1,875 |
Recognized in equity | 0 | 93 |
Business acquisition | (11,683) | |
Total | (20,559) | (9,189) |
Deferred Tax Liabilities | Intangibles and goodwill | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (6,129) | (7,873) |
Recognized in earning | 2,373 | 1,744 |
Recognized in equity | 0 | 0 |
Business acquisition | (11,683) | |
Total | (15,439) | (6,129) |
Deferred Tax Liabilities | Tax credits and other | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (3,060) | (3,284) |
Recognized in earning | (2,060) | 131 |
Recognized in equity | 0 | 93 |
Business acquisition | 0 | |
Total | (5,120) | (3,060) |
Net Carrying Amount | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 4,485 | 595 |
Recognized in earning | 3,007 | 3,797 |
Recognized in equity | 113 | 93 |
Business acquisition | (10,320) | |
Total | $ (2,715) | $ 4,485 |
Income Taxes - Summary of Losse
Income Taxes - Summary of Losses Available for Carryforward (Details) | Mar. 31, 2022CAD ($) |
Canada | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | $ 1,919,000 |
US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 40,677,000 |
2041 | Canada | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 663,000 |
2042 | Canada | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 1,256,000 |
2036 | US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 1,981,000 |
2037 | US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 15,739,000 |
Indefinite | US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | $ 22,957,000 |
Income Taxes - Summary of Los_2
Income Taxes - Summary of Losses Available for Carryforward (Parentheticals) (Details) | Mar. 31, 2022CAD ($) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deductible temporary differences for which no deferred tax asset is recognized | $ 18,884,000 |
US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 40,677,000 |
US | 2037 & 2036 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 24,147,000 |
US | 2037 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 15,739,000 |
US | 2036 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 1,981,000 |
State | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deductible temporary differences for which no deferred tax asset is recognized | $ 29,551,000 |
Share Capital and Dividends - A
Share Capital and Dividends - Additional Information (Details) $ / shares in Units, $ / shares in Units, $ in Thousands | Jun. 23, 2021CAD ($) | Jun. 14, 2021CAD ($)$ / sharesshares | Dec. 13, 2020CAD ($) | Jun. 23, 2020CAD ($)$ / sharesshares | Mar. 31, 2022CAD ($)sharesVote$ / shares | Mar. 31, 2021CAD ($)sharesVote$ / shares | Mar. 31, 2021USD ($)sharesVote | Dec. 13, 2022USD ($) | Sep. 14, 2021shares | Jun. 14, 2021$ / shares | Jun. 23, 2020$ / shares |
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 80,585,000 | ||||||||||
Exercise of stock options | 299,000 | $ 300,000 | |||||||||
Share issuance, net of share issue costs | $ 24,686,000 | $ 0 | |||||||||
Number of subordinated voting shares purchased (in shares) | shares | 1,073,302 | 755,000 | |||||||||
Exercise price (in CAD per option) | (per share) | $ 3.23 | $ 2.26 | $ 2.66 | $ 1.67 | |||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 3.40 | $ 3.10 | |||||||||
Performance Share Units | shares | 332,263 | ||||||||||
Performance share units, vesting period | 3 years | ||||||||||
Restricted share units | shares | 181,498 | ||||||||||
Performance share units | $ 273,000 | $ 0 | |||||||||
Deferred income tax | $ (3,007,000) | $ (3,797,000) | |||||||||
Allowable Purchase for Cancellation of Subordinate Voting Shares | shares | 5,462,572 | ||||||||||
Normal course issuer bid, percentage of public float | 10.00% | ||||||||||
CAD | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Stock options exercisable (in shares) | shares | 3,079,598 | 2,607,528 | 2,607,528 | ||||||||
Options issued (in shares) | shares | 774,202 | 570,000 | |||||||||
USD | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Stock options exercisable (in shares) | shares | 1,004,484 | 917,653 | 917,653 | ||||||||
Options issued (in shares) | shares | 299,100 | 185,000 | |||||||||
DSU | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Settlement period, Canadian participants | 90 days | ||||||||||
Settlement period, US Participants | 6 months | ||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 173,149 | 197,079 | 197,079 | ||||||||
Aggregate fair value of other equity instruments granted | $ 576,000 | $ 523,000 | |||||||||
RSU | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Fair value of other equity instruments granted (in CAD per share) | $ 2.26 | ||||||||||
Aggregate fair value of other equity instruments granted | $ 410,000 | ||||||||||
Vesting date | 1 year | ||||||||||
PSU | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Fair value of other equity instruments granted (in CAD per share) | $ 3.24 | ||||||||||
Aggregate fair value of other equity instruments granted | $ 1,077,000 | ||||||||||
Share Capital | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | 80,585,000 | ||||||||||
Matricis Informatique Inc. | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Value of vested shares | 350,000 | 800,000 | |||||||||
Alithya Travercent LLC | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Value of vested shares | 453,000 | 1,448,000 | |||||||||
Askida Inc. | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Value of vested shares | $ 722,000 | $ 1,803,000 | |||||||||
Top of range | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Employee’s basic contribution | 10.00% | ||||||||||
Subordinate Voting Shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Number of votes per share | Vote | 1 | 1 | 1 | ||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 299,000 | $ 300,000 | |||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 63,874 | 7,718 | 7,718 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures2 | shares | 7,718 | ||||||||||
Subordinate Voting Shares | Contributed Surplus | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ (229,000) | $ (184,000) | |||||||||
Issuance of Subordinate Voting Shares from settlement of DSUs | $ (195,000) | $ (32,000) | |||||||||
Subordinate Voting Shares | Share Capital | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | shares | 2,750 | 3,500 | 3,500 | ||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 10,000 | $ 14,000 | |||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 63,874 | 7,718 | 7,718 | ||||||||
Issuance of Subordinate Voting Shares from settlement of DSUs | $ 195,000 | $ 32,000 | |||||||||
Stock Converted During Period, Value | 182,000 | ||||||||||
Stock Issued During Period, Value, Private Placement, Gross | $ 25,000,000 | ||||||||||
Stock Issued During The Period, Share Price | $ / shares | $ 3.07 | ||||||||||
Stock Issued During Period, Value, Private Placement | $ 24,686,000 | ||||||||||
Share issue costs | (427,000) | ||||||||||
Deferred income tax | 113,000 | ||||||||||
Reclassified from contributed surplus | $ 32,000 | ||||||||||
Subordinate Voting Shares | Matricis Informatique Inc. | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | shares | 157,882 | 157,882 | 157,882 | ||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 600,000 | ||||||||||
Subordinate Voting Shares | Alithya Travercent LLC | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | shares | 376,250 | ||||||||||
Equity interest issued or issuable | $ (1,249,000) | $ 1,276,000 | $ 975 | $ 975 | |||||||
Subordinate Voting Shares | Askida Inc. | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | shares | 300,192 | 300,189 | 300,189 | ||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 1,086,000 | $ 1,086,000 | |||||||||
Subordinate Voting Shares | Acquisition of outstanding shares of R3D consulting Inc. | Share Capital | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | shares | 25,182,676 | ||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 80,585,000 | ||||||||||
Multiple Voting Shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Number of votes per share | Vote | 10 | 10 | 10 | ||||||||
Number of stock options available to purchase of shares (in shares) | shares | 657,896 | 810,528 | 810,528 | ||||||||
Multiple Voting Shares | Share Capital | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | shares | 152,632 | 152,632 | 152,632 | ||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 518,000 | $ 470,000 | |||||||||
Stock Converted During Period, Value | $ 182,000 | ||||||||||
Subordinate Voting Shares and Multiple Voting Shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 155,382 | 156,132 | 156,132 | ||||||||
Long Term Incentive Plan | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 155,382 | 156,132 | 156,132 | ||||||||
Vesting period | 4 years | ||||||||||
Stock options exercisable (in shares) | shares | 1,527,805 | 1,580,444 | 1,580,444 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 1.92 | $ 1.92 | |||||||||
Long Term Incentive Plan | Subordinate Voting Shares and Multiple Voting Shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Percentage of aggregate number of shares issued and outstanding | 10.00% |
Share Capital and Dividends - S
Share Capital and Dividends - Summary of Issued Share Capital (Details) $ in Thousands | Dec. 13, 2020CAD ($) | Mar. 31, 2022CAD ($)shares | Mar. 31, 2021CAD ($)shares | Mar. 31, 2021USD ($)shares | Dec. 13, 2022USD ($) |
Disclosure of classes of share capital [line items] | |||||
Balance (in shares) | shares | 58,695,438 | 58,073,517 | 58,073,517 | ||
Balance (in shares) | shares | 92,725,616 | 58,695,438 | 58,695,438 | ||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | $ 0 | $ 0 | |||
Business acquisition | 80,585,000 | ||||
Exercise of stock options | 299,000 | 300,000 | |||
Share capital | 305,222,000 | 197,537,000 | |||
Share Capital | |||||
Disclosure of classes of share capital [line items] | |||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 2,935,000 | 1,686,000 | |||
Business acquisition | $ 80,585,000 | ||||
Alithya Travercent LLC | |||||
Disclosure of classes of share capital [line items] | |||||
Reduction in retained earnings | (72,000) | ||||
Contributed surplus | $ (1,204,000) | ||||
Subordinate Voting Shares | |||||
Disclosure of classes of share capital [line items] | |||||
Settlement of DSU (in shares) | shares | 63,874 | 7,718 | 7,718 | ||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 299,000 | $ 300,000 | |||
Subordinate Voting Shares | Share Capital | |||||
Disclosure of classes of share capital [line items] | |||||
Balance (in shares) | shares | 51,373,822 | 50,904,533 | 50,904,533 | ||
Exercise of stock options (in shares) | shares | 2,750 | 3,500 | 3,500 | ||
Settlement of DSU (in shares) | shares | 63,874 | 7,718 | 7,718 | ||
Balance (in shares) | shares | 85,554,000 | 51,373,822 | 51,373,822 | ||
Beginning balance | $ 193,552,000 | $ 191,820,000 | |||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 1,686,000 | ||||
Stock Issued During Period, Shares, Private Placement | shares | 8,143,322 | ||||
Stock Issued During Period, Value, Private Placement | $ 24,686,000 | ||||
Stock Purchased For Cancellation, Value | $ (1,244,000) | ||||
Stock Purchased For Cancellation, Shares | shares | (349,400) | ||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 10,000 | 14,000 | |||
Stock Converted During Period, Value | $ 182,000 | ||||
Stock Converted During Period, Shares | shares | 302,632 | ||||
Settlement of DSUs | $ 195,000 | 32,000 | |||
Ending balance | $ 300,901,000 | $ 193,552,000 | |||
Share-based compensation on shares vested during the period, issued on business acquisitions (in shares) | shares | 458,071 | 458,071 | |||
Subordinate Voting Shares | Share Capital | Entity Controlled By Director | |||||
Disclosure of classes of share capital [line items] | |||||
Stock Issued During Period, Shares, Private Placement | shares | 6,514,658 | ||||
Subordinate Voting Shares | Share Capital | Investissement Quebec | |||||
Disclosure of classes of share capital [line items] | |||||
Stock Issued During Period, Shares, Private Placement | shares | 1,628,664 | ||||
Subordinate Voting Shares | Aggregated individually immaterial business combinations | Share Capital | |||||
Disclosure of classes of share capital [line items] | |||||
Issuance of Subordinate Voting Shares (in shares) | shares | 834,324 | ||||
Business acquisition | $ 2,935,000 | ||||
Subordinate Voting Shares | Acquisition of outstanding shares of R3D consulting Inc. | Share Capital | |||||
Disclosure of classes of share capital [line items] | |||||
Issuance of Subordinate Voting Shares (in shares) | shares | 25,182,676 | ||||
Business acquisition | $ 80,585,000 | ||||
Subordinate Voting Shares | Alithya Travercent LLC | |||||
Disclosure of classes of share capital [line items] | |||||
Issuance of Subordinate Voting Shares (in shares) | shares | 376,250 | ||||
Equity interest issued or issuable | $ 1,249,000 | $ (1,276,000) | $ (975) | $ (975) | |
Multiple Voting Shares | Share Capital | |||||
Disclosure of classes of share capital [line items] | |||||
Balance (in shares) | shares | 7,321,616 | 7,168,984 | 7,168,984 | ||
Exercise of stock options (in shares) | shares | 152,632 | 152,632 | 152,632 | ||
Balance (in shares) | shares | 7,171,616 | 7,321,616 | 7,321,616 | ||
Beginning balance | $ 3,985,000 | $ 3,515,000 | |||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | 518,000 | 470,000 | |||
Stock Converted During Period, Value | $ 182,000 | ||||
Stock Converted During Period, Shares | shares | 302,632 | ||||
Ending balance | $ 4,321,000 | $ 3,985,000 |
Share Capital and Dividends - T
Share Capital and Dividends - Transaction Activity Related to Class of Shares (Details) | 12 Months Ended |
Mar. 31, 2021shares | |
Disclosure of classes of share capital [line items] | |
Balance (in shares) | 58,073,517 |
Balance (in shares) | 58,695,438 |
Share Capital and Dividends -_2
Share Capital and Dividends - Summary of Shares Converted After Acquisition (Details) - shares | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of classes of share capital [line items] | |||
Ending balance (in shares) | 92,725,616 | 58,695,438 | 58,073,517 |
Share Capital and Dividends -_3
Share Capital and Dividends - Summary of Transaction Activity Related to Subordinate Voting Shares and Multiple Voting Shares (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 58,695,438 | 58,073,517 |
Balance (in shares) | 92,725,616 | 58,695,438 |
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | $ 0 | $ 0 |
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | 80,585,000 | |
Share Capital | ||
Disclosure of classes of share capital [line items] | ||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 2,935,000 | 1,686,000 |
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | 80,585,000 | |
Subordinate Voting Shares | ||
Disclosure of classes of share capital [line items] | ||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 299,000 | $ 300,000 |
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | 63,874 | 7,718 |
Subordinate Voting Shares | Matricis Informatique Inc. | ||
Disclosure of classes of share capital [line items] | ||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 600,000 | |
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | 157,882 | 157,882 |
Subordinate Voting Shares | Alithya Travercent LLC | ||
Disclosure of classes of share capital [line items] | ||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | 376,250 | |
Subordinate Voting Shares | Askida Inc. | ||
Disclosure of classes of share capital [line items] | ||
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. | $ 1,086,000 | $ 1,086,000 |
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | 300,192 | 300,189 |
Subordinate Voting Shares | Share Capital | ||
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 51,373,822 | 50,904,533 |
Balance (in shares) | 85,554,000 | 51,373,822 |
Beginning balance | $ 193,552,000 | $ 191,820,000 |
Ending balance | 300,901,000 | 193,552,000 |
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 1,686,000 | |
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | 10,000 | 14,000 |
Issuance of Subordinate Voting Shares from settlement of DSUs | $ 195,000 | $ 32,000 |
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | 2,750 | 3,500 |
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | 63,874 | 7,718 |
Multiple Voting Shares | Share Capital | ||
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 7,321,616 | 7,168,984 |
Balance (in shares) | 7,171,616 | 7,321,616 |
Beginning balance | $ 3,985,000 | $ 3,515,000 |
Ending balance | 4,321,000 | 3,985,000 |
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 518,000 | $ 470,000 |
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | 152,632 | 152,632 |
Share Capital and Dividends -_4
Share Capital and Dividends - Summary of Option Activity (Details) | 12 Months Ended | |
Mar. 31, 2022shares$ / shares | Mar. 31, 2021shares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Weighted average exercise price of share options exercised (in CAD per option) | $ 3.40 | $ 3.10 |
Long Term Incentive Plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Beginning balance (in shares) | shares | 3,525,181 | 3,172,289 |
Granted (in shares) | shares | 1,073,302 | 755,000 |
Forfeited (in shares) | shares | (192,167) | (130,163) |
Expired (in shares) | shares | (166,852) | (115,813) |
Exercised (in shares) | shares | (155,382) | (156,132) |
Ending balance (in shares) | shares | 4,084,082 | 3,525,181 |
Exercisable at year end (in shares) | shares | 1,527,805 | 1,580,444 |
Beginning balance (in CAD per option) | $ 3.37 | $ 3.72 |
Granted (in CAD per option) | 3.23 | 2.26 |
Forfeited (in CAD per option) | 3.57 | 4.93 |
Expired (in CAD per option) | 6.13 | 5.93 |
Weighted average exercise price of share options exercised (in CAD per option) | 1.92 | 1.92 |
Ending balance (in CAD per option) | 3.23 | 3.37 |
Exercisable at year end (in CAD per option) | $ 3.31 | $ 3.44 |
Share Capital and Dividends -_5
Share Capital and Dividends - Summary of Weighted Average Assumptions Used for Valuation of Share Options Granted (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Mar. 31, 2022CAD ($)Year$ / shares | Mar. 31, 2021CAD ($)Year$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Compensation expense related to the options granted | $ | $ 4,454 | $ 6,241 |
Black Scholes Model [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share price (in CAD per option) | $ 3.23 | $ 2.26 |
Exercise price (in CAD per option) | $ 3.23 | $ 2.26 |
Risk-free interest rate | 1.25% | 0.46% |
Expected volatility | 34.70% | 34.90% |
Dividend yield | 0.00% | 0.00% |
Expected option life (years) | Year | 6.6 | 6.6 |
Vesting conditions – time (years) | 3 years 2 months 12 days | 3 years 3 months 18 days |
Share Capital and Dividends -_6
Share Capital and Dividends - Schedule of Share Options Outstanding and Exercisable (Details) | 12 Months Ended | |||||
Mar. 31, 2022shares$ / shares | Mar. 31, 2021shares | Jun. 14, 2021$ / shares | Jun. 14, 2021$ / shares | Jun. 23, 2020$ / shares | Jun. 23, 2020$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | (per share) | $ 3.23 | $ 2.66 | $ 2.26 | $ 1.67 | ||
CAD | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 3,079,598 | 2,607,528 | ||||
Weighted average remaining exercise period (in years) | 6 years 2 months 15 days | 6 years 3 months 18 days | ||||
CAD | 1.85 to 2.55 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 892,896 | 1,095,528 | ||||
Weighted average remaining exercise period (in years) | 5 years 6 months 7 days | 5 years 10 months 17 days | ||||
CAD | 1.85 to 2.55 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 1.85 | |||||
CAD | 1.85 to 2.55 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 2.55 | |||||
CAD | 2.56 to 2.95 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 120,000 | 120,000 | ||||
Weighted average remaining exercise period (in years) | 3 years 1 month 2 days | 4 years 1 month 2 days | ||||
CAD | 2.56 to 2.95 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 2.56 | |||||
CAD | 2.56 to 2.95 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 2.95 | |||||
CAD | 2.96 to 3.30 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 938,702 | 182,500 | ||||
Weighted average remaining exercise period (in years) | 7 years 5 months 12 days | 5 years 3 days | ||||
CAD | 2.96 to 3.30 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 2.96 | |||||
CAD | 2.96 to 3.30 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 3.30 | |||||
CAD | 3.31 to 3.95 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 673,000 | 750,500 | ||||
Weighted average remaining exercise period (in years) | 5 years 8 months 15 days | 6 years 9 months 21 days | ||||
CAD | 3.31 to 3.95 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 3.31 | |||||
CAD | 3.31 to 3.95 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 3.95 | |||||
CAD | 3.96 to 4.55 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 455,000 | 459,000 | ||||
Weighted average remaining exercise period (in years) | 6 years 7 months 2 days | 7 years 7 months 2 days | ||||
CAD | 3.96 to 4.55 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 3.96 | |||||
CAD | 3.96 to 4.55 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 4.55 | |||||
USD | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 1,004,484 | 917,653 | ||||
Weighted average remaining exercise period (in years) | 7 years 3 months 10 days | 6 years 1 month 2 days | ||||
USD | 1.67 to 2.25 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 180,000 | 185,000 | ||||
Weighted average remaining exercise period (in years) | 8 years 2 months 23 days | 9 years 2 months 26 days | ||||
USD | 1.67 to 2.25 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 1.67 | |||||
USD | 1.67 to 2.25 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 2.25 | |||||
USD | 2.26 to 3.85 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 818,525 | 532,550 | ||||
Weighted average remaining exercise period (in years) | 7 years 1 month 13 days | 6 years 11 months 23 days | ||||
USD | 2.26 to 3.85 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 2.26 | |||||
USD | 2.26 to 3.85 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 3.85 | |||||
USD | 3.86 to 4.45 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 0 | 20,856 | ||||
Weighted average remaining exercise period (in years) | 10 months 20 days | |||||
USD | 3.86 to 4.45 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 3.86 | |||||
USD | 3.86 to 4.45 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 4.45 | |||||
USD | 4.59 to 4.85 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 0 | 47,672 | ||||
Weighted average remaining exercise period (in years) | 5 months 26 days | |||||
USD | 4.59 to 4.85 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 4.59 | |||||
USD | 4.59 to 4.85 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 4.85 | |||||
USD | 4.90 to 5.45 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock options exercisable (in shares) | shares | 5,959 | 131,575 | ||||
Weighted average remaining exercise period (in years) | 9 months 21 days | 1 year | ||||
USD | 4.90 to 5.45 | Bottom of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 4.90 | |||||
USD | 4.90 to 5.45 | Top of range | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise price (in CAD per option) | $ 5.45 |
Share Capital and Dividends -_7
Share Capital and Dividends - Summary of DSU Activity (Details) - DSU - shares | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Beginning balance as at April 1 (in shares) | 330,246 | 140,885 |
Granted to non-employee directors (in shares) | 173,149 | 197,079 |
Settled (in shares) | (63,874) | (7,718) |
Ending balance as at March 31 2022 (in shares) | 439,521 | 330,246 |
Share Capital and Dividends -_8
Share Capital and Dividends - Summary of Share based Compensation (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of classes of share capital [abstract] | ||
Stock option plan | $ 851 | $ 700 |
Share purchase plan – employer contribution | 1,138 | 653 |
Share-based compensation on shares vested during the period, issued on business acquisitions | 1,524 | 4,051 |
Deferred share units | 576 | 523 |
Restricted share units | 92 | 314 |
Performance share units | 273 | 0 |
Expense from share-based payment transactions with employees | $ 4,454 | $ 6,241 |
Commitments - Schedule of Opera
Commitments - Schedule of Operating Expenditures Contracted but not Incurred (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | $ 130,149 | $ 100,023 |
Technology licenses, infrastructure and other | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 7,399 | |
Technology licenses, infrastructure and other | Not later than one year [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 3,975 | |
Technology licenses, infrastructure and other | Later than one year and not later than two years [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 2,351 | |
Technology licenses, infrastructure and other | Later than two years and not later than three years [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | $ 1,073 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of transactions between related parties [line items] | ||
Payments of incremental benefit in the event of termination | $ 2,820 | $ 688 |
Related parties | ||
Disclosure of transactions between related parties [line items] | ||
Voting right percentage | 45.81% | |
Related parties | Top of range | ||
Disclosure of transactions between related parties [line items] | ||
Payments of incremental benefit in the event of termination | $ 5,122 | $ 5,450 |
Related Parties - Summary of Co
Related Parties - Summary of Compensation Paid or Payable to Directors and to Key Management for Services (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | ||
Director compensation, and key management salaries and benefits | $ 4,312,000 | $ 4,427,000 |
Share-based compensation | 1,325,000 | 1,273,000 |
Termination benefits | 317,000 | 0 |
Key management personnel compensation | $ 5,954,000 | $ 5,700,000 |
Related Parties - Summary of Op
Related Parties - Summary of Operating Transactions with Key Management Personnel (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | ||
Revenues | $ 21,100 | $ 0 |
Trade accounts receivable | $ 4,287 | $ 0 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Details) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings per share [abstract] | ||
Net loss | $ (15,548) | $ (17,338) |
Weighted average number of common shares outstanding (in shares) | 85,297,843 | 58,209,375 |
Basic earnings (loss) per share (in CAD per share) | $ (0.18) | $ (0.30) |
Diluted earnings (loss) per share (in CAD per share) | $ (0.18) | $ (0.30) |
Reconciliation of Liabilities_3
Reconciliation of Liabilities Arising from Financing Activities - Summary of Changes in Company's Liabilities Arising from Financing Activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | $ 54,951 | $ 53,229 |
Repayment | (146,509) | (49,867) |
Proceeds | 156,768 | 53,471 |
Total cash flow | 10,259 | 3,604 |
Acquisitions | 47,471 | 0 |
Amortization of finance costs | 277 | 242 |
Interest accretion on balances of purchase payable | 823 | 835 |
Impacts of foreign exchange | (1,237) | (1,061) |
Forgiveness of PPP loan | (5,868) | (1,898) |
Reclassification Credit Facility (note 10) | 0 | 0 |
Reclassification other long-term debt | 0 | 0 |
Total non cash | 41,466 | (1,882) |
Ending balance | 106,676 | 54,951 |
Current portion of long-term debt | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 35,134 | 1,143 |
Repayment | (42,590) | 0 |
Proceeds | 0 | 0 |
Total cash flow | (42,590) | 0 |
Acquisitions | 38,584 | 0 |
Amortization of finance costs | 0 | 0 |
Interest accretion on balances of purchase payable | 0 | 0 |
Impacts of foreign exchange | (9) | 270 |
Reclassification Credit Facility (note 10) | 0 | 31,023 |
Reclassification other long-term debt | (11,803) | 2,698 |
Total non cash | 26,772 | 33,991 |
Ending balance | 19,316 | 35,134 |
Long-term debt | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 19,817 | 52,086 |
Repayment | (103,919) | (49,867) |
Proceeds | 156,768 | 53,471 |
Total cash flow | 52,849 | 3,604 |
Acquisitions | 8,887 | 0 |
Amortization of finance costs | 277 | 242 |
Interest accretion on balances of purchase payable | 823 | 835 |
Impacts of foreign exchange | (1,228) | (1,331) |
Forgiveness of PPP loan | (5,868) | (1,898) |
Reclassification Credit Facility (note 10) | 0 | (31,023) |
Reclassification other long-term debt | 11,803 | (2,698) |
Total non cash | 14,694 | (35,873) |
Ending balance | $ 87,360 | $ 19,817 |
Additional Information on Con_3
Additional Information on Consolidated Loss - Schedule of Additional Information on Consolidated Loss (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Employee compensation and subcontractor costs | $ 411,669 | $ 277,980 |
Tax Credits | (10,870) | (6,924) |
Grants and loan forgiveness | (6,234) | (6,530) |
Other expenses | 26,005 | 21,823 |
Depreciation, property, plant and equipment | 2,568 | 1,861 |
Depreciation, right-of-use assets | 2,867 | 1,906 |
Expenses, by nature | 426,005 | 290,116 |
Cost of revenues | 321,732 | 204,626 |
Selling, general and administrative expenses | 98,838 | 81,723 |
Depreciation | 5,435 | 3,767 |
Expense, by function | 426,005 | 290,116 |
Cost Of Sales | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Grants and loan forgiveness | (4,910) | (5,363) |
Selling, General And Administrative Expense | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Grants and loan forgiveness | $ (1,324) | $ (1,167) |
Additional Information on Con_4
Additional Information on Consolidated Loss - Narrative (Details) $ in Thousands, $ in Thousands | Mar. 31, 2022CAD ($) | Mar. 31, 2022EUR (€) | Mar. 31, 2022USD ($) | Mar. 31, 2021CAD ($) |
Profit (loss) [Line Items] | ||||
Government grant | $ 239 | $ 4,001 | ||
Alithya France SAS | ||||
Profit (loss) [Line Items] | ||||
Government grant | € 410,600 | $ 632 |
Business acquisition, integra_3
Business acquisition, integration and reorganization costs (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Business acquisition, integration and reorganization costs [Abstract] | ||
Acquisition costs | $ 3,964 | $ 381 |
Integration costs | 6,808 | 1,940 |
Reorganization costs related to modifications to cost structure | 845 | 0 |
Business acquisition, integration and reorganization costs | 11,617 | 2,321 |
Employee benefits expense | $ 2,820 | $ 688 |
Net Financial Expenses - Summar
Net Financial Expenses - Summary of Financial Expenses (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Financial Expense [Abstract] | ||
Interest on long-term debt | $ 2,402 | $ 1,185 |
Interest and financing charges | 432 | 448 |
Interest on lease liabilities | 725 | 595 |
Amortization of finance costs | 277 | 242 |
Interest accretion on balances of purchase payable | 823 | 835 |
Interest income | (80) | (31) |
Finance costs | $ 4,579 | $ 3,274 |
Supplementary Cash Flow Infor_3
Supplementary Cash Flow Information - Summary of Net Change In Non-Cash Working Capital Items (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Supplementary Cash Flow Information [Abstract] | ||
Accounts receivable and other receivables | $ (15,894) | $ (5,289) |
Income taxes receivable | 628 | 1,450 |
Unbilled revenues | 865 | (2,154) |
Tax credits receivable | (5,688) | 28 |
Prepaids | (765) | (944) |
Accounts payable and accrued liabilities | 17,651 | 5,504 |
Deferred revenues | 2,083 | 1,319 |
Net change in non-cash working capital items | (1,120) | (86) |
Acquisition of Leasehold Improvements | $ 1,326 | |
Additions to right of use assets and lease liabilities | 67 | |
Accounts Receivable and Other Receivables Reclassified | 305 | |
Right of use assets reclassified | 849 | |
Other assets | $ 1,154 |
Segment and Geographical Info_3
Segment and Geographical Information - Summary of External Revenues by Geographic Location (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of geographical areas [line items] | ||
Revenues | $ 437,885 | $ 287,643 |
Revenue percentage | 100.00% | 100.00% |
Canada | ||
Disclosure of geographical areas [line items] | ||
Revenues | $ 280,633 | $ 162,764 |
Revenue percentage | 64.10% | 56.60% |
U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenues | $ 142,200 | $ 114,608 |
Revenue percentage | 32.50% | 39.80% |
International | ||
Disclosure of geographical areas [line items] | ||
Revenues | $ 15,052 | $ 10,271 |
Revenue percentage | 3.40% | 3.60% |
Segment and Geographical Info_4
Segment and Geographical Information - Summary of Long-lived Assets by Geographic Location (Details) - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 273,573 | $ 129,063 |
Long lived assets percentage | 100.00% | 100.00% |
Canada | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 154,251 | $ 62,172 |
Long lived assets percentage | 56.40% | 48.20% |
U.S. | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 118,023 | $ 65,784 |
Long lived assets percentage | 43.10% | 51.00% |
International | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 1,299 | $ 1,107 |
Long lived assets percentage | 0.50% | 0.80% |
Segment and Geographical Info_5
Segment and Geographical Information - Summary of Revenue from Customers for Major Service Category (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of major customers [line items] | ||
Revenues | $ 437,885 | $ 287,643 |
Revenue percentage | 100.00% | 100.00% |
Consulting and support services - time and materials arrangements | ||
Disclosure of major customers [line items] | ||
Revenues | $ 382,143 | $ 254,155 |
Revenue percentage | 87.30% | 88.30% |
Consulting and support services - fixed-fee arrangements | ||
Disclosure of major customers [line items] | ||
Revenues | $ 45,539 | $ 24,099 |
Revenue percentage | 10.40% | 8.40% |
Other revenue | ||
Disclosure of major customers [line items] | ||
Revenues | $ 10,203 | $ 9,389 |
Revenue percentage | 2.30% | 3.30% |
Segment and Geographical Info_6
Segment and Geographical Information - Additional Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of major customers [line items] | ||
Revenues | $ 437,885 | $ 287,643 |
Revenue percentage | 100.00% | 100.00% |
Revenues | One customer | ||
Disclosure of major customers [line items] | ||
Revenues | $ 63,391 | $ 30,297 |
Revenue percentage | 10.00% | 10.00% |
Accounts receivable and other receivables | One customer | ||
Disclosure of major customers [line items] | ||
Revenues | $ 19,771 | $ 11,011 |
Revenue percentage | 19.60% | 15.90% |
Financial Instruments - Schedul
Financial Instruments - Schedule of Interest Rate Risk Profile of Borrowings (Details) - CAD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||
Other long-term debt | $ 120,000 | $ 213,000 |
Borrowings | 106,676,000 | 54,951,000 |
Credit Facility | ||
Disclosure of detailed information about financial instruments [line items] | ||
Line of credit | 66,631,000 | 31,023,000 |
Secured loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Line of credit | 8,596,000 | 0 |
Interest Rate Risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | $ 75,347,000 | $ 31,236,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | ||
Unused Capacity on Facility | $ 58,369,000 | $ 23,976,000 |
Percentage change in interest rate on variable rate borrowings | 0.10% | |
LIBOR Advances | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum amount available | $ 125,000,000 | $ 60,000,000 |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amount and Contractual Maturities of Financial Liabilities (Details) - CAD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | $ 105,753,000 | $ 46,542,000 |
Liquidity risk | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 180,643,000 | 88,540,000 |
Financial liabilities | 192,699,000 | 93,152,000 |
Liquidity risk | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 79,629,000 | 64,288,000 |
Liquidity risk | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 11,635,000 | 16,082,000 |
Liquidity risk | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 96,206,000 | 6,756,000 |
Liquidity risk | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 5,229,000 | 6,026,000 |
Liquidity risk | Accounts payable and accrued liabilities | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 53,507,000 | 26,326,000 |
Financial liabilities | 53,507,000 | 26,326,000 |
Liquidity risk | Accounts payable and accrued liabilities | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 53,507,000 | 26,326,000 |
Liquidity risk | Accounts payable and accrued liabilities | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Accounts payable and accrued liabilities | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Accounts payable and accrued liabilities | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Credit Facility | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 66,631,000 | 31,023,000 |
Financial liabilities | 70,775,000 | 32,008,000 |
Liquidity risk | Credit Facility | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 2,072,000 | 32,008,000 |
Liquidity risk | Credit Facility | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 2,072,000 | 0 |
Liquidity risk | Credit Facility | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 66,631,000 | 0 |
Liquidity risk | Credit Facility | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Secured loans | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 8,596,000 | |
Financial liabilities | 9,060,000 | |
Liquidity risk | Secured loans | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,988,000 | |
Liquidity risk | Secured loans | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,072,000 | |
Liquidity risk | Secured loans | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | |
Liquidity risk | Secured loans | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | |
Liquidity risk | Subordinated unsecured loan | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 17,500,000 | |
Financial liabilities | 21,773,000 | |
Liquidity risk | Subordinated unsecured loan | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 1,221,000 | |
Liquidity risk | Subordinated unsecured loan | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 1,221,000 | |
Liquidity risk | Subordinated unsecured loan | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 19,331,000 | |
Liquidity risk | Subordinated unsecured loan | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | |
Liquidity risk | Balances of purchase payable, non-interest bearing | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 13,026,000 | 15,519,000 |
Financial liabilities | 13,419,000 | 16,739,000 |
Liquidity risk | Balances of purchase payable, non-interest bearing | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 13,419,000 | 3,259,000 |
Liquidity risk | Balances of purchase payable, non-interest bearing | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 13,480,000 |
Liquidity risk | Balances of purchase payable, non-interest bearing | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Balances of purchase payable, non-interest bearing | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Other liabilities (included in long-term debt) | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 120,000 | 213,000 |
Financial liabilities | 120,000 | 213,000 |
Liquidity risk | Other liabilities (included in long-term debt) | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 120,000 | 213,000 |
Liquidity risk | Other liabilities (included in long-term debt) | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Other liabilities (included in long-term debt) | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Other liabilities (included in long-term debt) | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Lease liabilities | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 21,263,000 | 15,459,000 |
Financial liabilities | 24,045,000 | 17,866,000 |
Liquidity risk | Lease liabilities | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,302,000 | 2,482,000 |
Liquidity risk | Lease liabilities | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,270,000 | 2,602,000 |
Liquidity risk | Lease liabilities | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 10,244,000 | 6,756,000 |
Liquidity risk | Lease liabilities | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | $ 5,229,000 | $ 6,026,000 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Exposure to Credit Risk (Details) - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | $ 98,289 | $ 67,049 |
Current | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 70,039 | 44,375 |
0-30 days | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 21,600 | 17,290 |
31-60 days | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 3,072 | 2,281 |
61-90 days | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 1,071 | 632 |
Over 90 days | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | $ 2,507 | $ 2,471 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Quantitative Data About Exposure to Currency Risk (Details) - Currency risk - USD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | $ 48,514 | $ 4,708 |
Accounts payable and accrued liabilities | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 1,599 | 1,609 |
Credit Facility | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 48,377 | 4,023 |
Cash | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 1,428 | 681 |
Accounts receivable and other receivables | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | $ 34 | $ 243 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Sensitivity Analysis Based on Group's Foreign Currency Financial Instruments (Details) - Canadian Dollars/USD Exchange Rate - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Change in exchange rate to foreign currencies | 7.00% | 17.00% |
USD | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Profit or loss strengthening | $ (2,638) | $ (631) |
Profit or loss weakening | $ 2,638 | $ 631 |
Financial Instruments - Carryin
Financial Instruments - Carrying Amount of Financing Liabilities (Details) - CAD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | $ 105,753,000 | $ 46,542,000 |
Liquidity risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | 180,643,000 | 88,540,000 |
Liquidity risk | Senior secured revolving credit facility (the "Credit Facility") | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | 66,631,000 | 31,023,000 |
Liquidity risk | Secured loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | 8,596,000 | |
Liquidity risk | Subordinated unsecured loan | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | 17,500,000 | |
Liquidity risk | Balances of purchase payable, non-interest bearing | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | $ 13,026,000 | $ 15,519,000 |
Capital Disclosures - Summary o
Capital Disclosures - Summary of Total Capital (Details) - CAD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure Of Capital Disclosures [Abstract] | ||
Cash | $ (17,655) | $ (6,903) |
Restricted cash | (3,254) | (3,233) |
Current portion of long-term debt | 19,316 | 35,134 |
Long-term debt | 87,360 | 19,817 |
Share capital | 305,222 | 197,537 |
Deficit | (111,654) | (96,190) |
Accumulated other comprehensive loss | (947) | (508) |
Contributed surplus | 7,130 | 7,173 |
Capital | $ 285,518 | $ 152,827 |
Subsequent Events (Details)
Subsequent Events (Details) $ in Thousands, $ in Thousands | Jun. 01, 2022CAD ($)shares | Jun. 01, 2022USD ($)shares | Jun. 01, 2022USD ($) | Mar. 31, 2022CAD ($) | Mar. 31, 2021CAD ($) | Apr. 01, 2020CAD ($) | Apr. 01, 2019CAD ($) |
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items] | |||||||
Lease liabilities | $ | $ 21,263 | $ 15,459 | $ 15,459 | $ 13,232 | |||
Acquisition of outstanding shares of Datum Consulting Group, LLC | Datum Consulting Group, LLC | |||||||
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items] | |||||||
Consideration paid | $ 57,500 | $ 45,500 | |||||
Lease liabilities | 600 | $ 500 | |||||
Cash consideration for acquisition | 17,300 | 13,700 | |||||
Issuance of shares | 5,100 | 4,000 | |||||
Deferred cash consideration | 13,000 | 10,300 | |||||
Deferred share consideration | 5,100 | $ 4,000 | |||||
Earn-out | $ 16,400 | $ 13,000 | |||||
Deferred consideration, payout period | 3 years | 3 years | |||||
Contingent consideration, payable in cash, percentage | 75.00% | 75.00% | |||||
Contingent consideration, payable in shares, percentage | 25.00% | 25.00% | |||||
Contingent consideration, period | 3 years | 3 years | |||||
Acquisition of outstanding shares of Datum Consulting Group, LLC | Datum Consulting Group, LLC | Subordinate Voting Shares | |||||||
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items] | |||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 1,867,262 | 1,867,262 |