Cover
Cover | 12 Months Ended |
Mar. 31, 2023 shares | |
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, 2023 |
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 |
Auditor Location | Montréal, Canada |
Auditor Firm ID | 85 |
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 | 87,871,568 |
Class B Shares | |
Entity Addresses [Line Items] | |
Entity Common Stock, Shares Outstanding | 7,324,248 |
Consolidated Statements of Oper
Consolidated Statements of Operations - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Profit or loss [abstract] | ||
Revenues | $ 522,701 | $ 437,885 |
Cost of revenues | 370,927 | 321,732 |
Gross margin | 151,774 | 116,153 |
Operating expenses | ||
Selling, general and administrative expenses | 126,522 | 98,838 |
Business acquisition, integration and reorganization costs | 18,079 | 11,617 |
Depreciation | 6,536 | 5,435 |
Amortization of intangibles | 27,497 | 14,285 |
Foreign exchange loss (gain) | 159 | (26) |
Operating expense | 178,793 | 130,149 |
Operating loss | (27,019) | (13,996) |
Net financial expenses | 9,335 | 4,579 |
Profit (loss) before tax | (36,354) | (18,575) |
Income tax expense (recovery) | ||
Current tax relating to items credited (charged) directly to equity | 569 | (20) |
Deferred tax relating to items credited (charged) directly to equity | (6,826) | (3,007) |
Total tax expense (income) | (6,257) | (3,027) |
Net loss | (30,097) | (15,548) |
Cumulative translation adjustment on consolidation of foreign subsidiaries | 5,557 | (439) |
Other comprehensive income | 5,557 | (439) |
Total comprehensive income (loss) | $ (24,540) | $ (15,987) |
Basic earnings (loss) per share (in CAD per share) | $ (0.32) | $ (0.18) |
Diluted earnings (loss) per share (in CAD per share) | $ (0.32) | $ (0.18) |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Current assets | ||
Cash | $ 22,583 | $ 17,655 |
Restricted cash | 0 | 3,254 |
Accounts receivable and other receivables | 92,453 | 100,867 |
Unbilled revenues | 23,420 | 17,272 |
Tax credits receivable | 9,944 | 8,515 |
Prepaids | 7,680 | 6,162 |
Total current assets | 156,080 | 153,725 |
Non-current assets | ||
Tax credits receivable | 12,108 | 11,873 |
Other assets | 1,111 | 1,303 |
Property and equipment | 8,724 | 10,412 |
Right-of-use assets | 9,353 | 15,146 |
Intangibles | 104,335 | 101,927 |
Deferred tax assets | 5,997 | 7,247 |
Goodwill | 166,393 | 146,088 |
Total assets | 464,101 | 447,721 |
Current liabilities | ||
Accounts payable and accrued liabilities | 91,263 | 89,660 |
Deferred revenues | 22,275 | 20,409 |
Current portion of lease liabilities | 3,873 | 3,510 |
Current portion of long-term debt | 12,808 | 19,316 |
Total current liabilities | 130,219 | 132,895 |
Non-current liabilities | ||
Long-term debt | 114,382 | 87,360 |
Contingent consideration recognised as of acquisition date | 9,157 | 0 |
Lease liabilities | 14,643 | 17,753 |
Deferred tax liabilities | 8,632 | 9,962 |
Total liabilities | 277,033 | 247,970 |
Shareholders' equity | ||
Share capital | 311,967 | 305,222 |
Deficit | (141,481) | (111,654) |
Accumulated other comprehensive income (loss) | 4,610 | (947) |
Contributed surplus | 11,972 | 7,130 |
Shareholders' equity | 187,068 | 199,751 |
Equity and liabilities | $ 464,101 | $ 447,721 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity | CAD ($) shares | Datum Consulting Group, LLC CAD ($) | Trafic 3W inc CAD ($) | Subordinate Voting Shares and Multiple Voting Shares shares | Subordinate Voting Shares CAD ($) shares | Subordinate Voting Shares Matricis Informatique Inc. CAD ($) shares | Subordinate Voting Shares Alithya Travercent LLC shares | Subordinate Voting Shares Askida Inc. CAD ($) shares | Share Capital CAD ($) | Share Capital Datum Consulting Group, LLC CAD ($) | Share Capital Trafic 3W inc CAD ($) | Share Capital Subordinate Voting Shares and Multiple Voting Shares CAD ($) | Share Capital Subordinate Voting Shares CAD ($) shares | Share Capital Subordinate Voting Shares Matricis Informatique Inc. shares | Share Capital Subordinate Voting Shares Alithya Travercent LLC shares | Share Capital Subordinate Voting Shares Datum Consulting Group, LLC CAD ($) shares | Share Capital Subordinate Voting Shares Trafic 3W inc CAD ($) | Deficit CAD ($) | Accumulated Other Comprehensive Income (loss) CAD ($) | Contributed Surplus CAD ($) | Contributed Surplus Subordinate Voting Shares CAD ($) | Shares outstanding shares | Shares outstanding Datum Consulting Group, LLC shares | Shares outstanding Trafic 3W inc shares |
Balance (in shares) at Mar. 31, 2021 | shares | 58,695,438 | 51,373,822 | ||||||||||||||||||||||
Balance at Mar. 31, 2021 | $ 108,012,000 | $ 197,537,000 | $ (96,190,000) | $ (508,000) | $ 7,173,000 | |||||||||||||||||||
Profit (loss) | (15,548,000) | (15,548,000) | ||||||||||||||||||||||
Other comprehensive income | (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 Datum, net of share issuance costs | 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 in consideration of the acquisition of Trafic 3W inc., net of share issuance costs | 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 from exercise of stock options | $ 528,000 | |||||||||||||||||||||||
Issuance of Multiple 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 Multiple Voting Shares from exercise of stock options | $ 195,000 | (195,000) | ||||||||||||||||||||||
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 | ||||||||||||||||||||||
Profit (loss) | $ (30,097,000) | (30,097,000) | ||||||||||||||||||||||
Other comprehensive income | 5,557,000 | 5,557,000 | ||||||||||||||||||||||
Comprehensive loss | (24,540,000) | (30,097,000) | 5,557,000 | |||||||||||||||||||||
Share-based compensation | 3,745,000 | $ 2,644,000 | 3,745,000 | |||||||||||||||||||||
Share-based compensation granted on business acquisition | 2,995,000 | 2,995,000 | ||||||||||||||||||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 157,882 | 580,500 | 1,867,262 | 1,867,262 | 83,449 | |||||||||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 5,528,000 | $ 276,000 | $ 600,000 | $ 5,528,000 | $ 276,000 | $ 5,528,000 | $ 276,000 | |||||||||||||||||
Shares repurchased for cancellation (shares) | shares | (371,525) | |||||||||||||||||||||||
Shares purchased for cancellation | (1,033,000) | (1,303,000) | 270,000 | |||||||||||||||||||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions (in shares) | shares | 738,382 | |||||||||||||||||||||||
Issuance of Subordinate Voting Shares pursuant to vesting of share-based compensation granted on business acquisitions | 0 | 1,708,000 | (1,708,000) | |||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options (in shares) | shares | 152,632 | |||||||||||||||||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ 346,000 | $ 0 | ||||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 152,632 | |||||||||||||||||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ 536,000 | $ (190,000) | ||||||||||||||||||||||
Total contributions by, and distributions to, shareholders | $ (11,857,000) | (6,745,000) | 270,000 | (4,842,000) | ||||||||||||||||||||
Total contributions by, and distributions to, shareholders (in shares) | shares | 2,470,200 | |||||||||||||||||||||||
Balance at Mar. 31, 2023 | $ 187,068,000 | $ 311,967,000 | $ (141,481,000) | $ 4,610,000 | $ 11,972,000 | |||||||||||||||||||
Balance (in shares) at Mar. 31, 2023 | shares | 95,195,816 | 87,871,568 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of comprehensive income [abstract] | ||
Profit (loss) | $ (30,097) | $ (15,548) |
Items that may be classified subsequently to profit or loss | ||
Cumulative translation adjustment on consolidation of foreign subsidiaries | 5,557 | (439) |
Other comprehensive income | 5,557 | (439) |
Comprehensive loss | $ (24,540) | $ (15,987) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating activities | ||
Profit (loss) | $ (30,097) | $ (15,548) |
Items not affecting cash | ||
Depreciation and amortization | 34,033 | 19,720 |
Increase (decrease) in contingent consideration asset (liability) | 9,157 | 0 |
Net financial expenses | 9,335 | 4,579 |
Share-based compensation | 6,740 | 3,316 |
Unrealized foreign exchange (gain) loss | (318) | 299 |
Realized foreign exchange loss (gain) on repayment of long-term debt | 861 | (250) |
Forgiveness of PPP loans | 0 | (5,868) |
Impairment of property and equipment and right-of-use assets | 3,697 | 0 |
Loss on disposal of intangibles | 0 | 262 |
Other | 0 | (533) |
Deferred taxes | (6,826) | (3,007) |
Changes in non-cash working capital items | 2,300 | (1,120) |
Adjustments to reconcile profit (loss) | 26,582 | 2,970 |
Net cash from operating activities | 28,882 | 1,850 |
Investing activities | ||
Additions to property and equipment | (1,736) | (1,719) |
Additions to intangibles | (849) | (1,361) |
Restricted cash | 3,254 | (21) |
Business acquisitions, net of cash acquired | (14,397) | (15,705) |
Right-of-use assets | 0 | (132) |
Net cash used in investing activities | (13,728) | (18,938) |
Financing activities | ||
Increase in long-term debt, net of related transaction costs | 98,682 | 156,768 |
Repayment of long-term debt | (97,518) | (146,509) |
Exercise of stock options | 346 | 299 |
Repayment of lease liabilities | (3,653) | (2,688) |
Proceeds from issuing shares | 0 | 24,686 |
Share issuance, net of share issue costs | (29) | 0 |
Financial expense paid | (1,033) | (1,160) |
Interest paid, classified as financing activities | 8,121 | 3,479 |
Net cash (used in) from financing activities | (11,326) | 27,917 |
Effect of exchange rate changes on cash | 1,100 | (77) |
Net change in cash | 4,928 | 10,752 |
Cash, beginning of year | 17,655 | 6,903 |
Cash, end of year | 22,583 | 17,655 |
Income taxes paid (recovered) | $ 411 | $ (354) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Share unit plan (“SUP”) The Company operates a SUP for eligible employees of the Company and its subsidiaries. Under this plan, eligible employees can elect to receive up to 50% of their annual bonus in DSUs and/or RSUs (“Bonus DSUs/RSUs”) with the Company granting additional DSUs/RSUs equal to 25% of the Bonus DSUs/RSUs. The Board, at its discretion, may elect to settle DSUs and RSUs in cash. The Company accounts for DSUs and RSUs as equity-settled awards as the Board intends to settle these awards through Subordinate Voting Shares purchased on the TSX or NASDAQ. The fair value of the share-based expense is based on 125% of the fair value of the bonus elected to be settled as DSUs and/or RSUs, with a corresponding adjustment through contributed surplus. An expense is recognized over the vesting period as employee benefits expense within general and administrative expenses, with a corresponding amount recognized in contributed surplus. The amount recognized as an expense is adjusted to reflect the number of units for which the related service and performance conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the units of awards that do meet the related service and non-market performance conditions at the vesting date. When DSUs and/or RSUs are settled, the recorded fair value of the award is removed from contributed surplus and credited to share capital. The SUP also provides for the grant of discretionary DSUs and/or RSUs. The compensation cost is measured at the fair value of the underlying Subordinate Voting Share as at the grant date. Forfeitures, which are estimated at the time of grant, are included in the measurement of the expense and are subsequently adjusted to reflect actual events. |
Business Combinations
Business Combinations | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combinations | BUSINESS COMBINATIONS Business combinations realized in the fiscal year ended March 31, 2023 Datum Overview On July 1, 2022, the Company acquired 100% of the issued and outstanding equity interests of U.S.-based Datum Consulting Group, LLC and its international affiliates (“Datum”) (the “Datum Acquisition”), a leader in IP enabled digital transformation services for data-rich insurers and other regulated entities such as governments. Management expects that its modernization practice and cloud-based software as a service (SaaS) offering will be complementary to Alithya's existing offerings and will allow for cross-selling opportunities. The Datum Acquisition was completed for purchase consideration and other consideration of up to US$45,488,000 ($58,550,000), in aggregate. The purchase consideration of US$27,200,000 ($35,010,000), in aggregate, consisted of: (i) US$13,542,000 ($17,430,000) paid in cash, net of working capital adjustment; (ii) US$4,313,000 ($5,552,000) paid by the issuance of 1,867,262 Subordinate Voting Shares; and (iii) US$9,345,000 ($12,028,000) of balance of sale, payable over three years on July 1, 2023, 2024 and 2025 (the "Anniversary Dates") (note 10). The other consideration of up to US$18,288,000 ($23,540,000), consisted of: (i) deferred cash consideration of US$975,000 ($1,255,000); (ii) deferred share consideration of 1,867,261 Subordinate Voting Shares with a value of US$4,313,000 ($5,552,000); and (iii) potential earn-out consideration of up to US$13,000,000 ($16,733,000), all payable over three years on the Anniversary Dates. 3. BUSINESS COMBINATIONS (CONT’D) The deferred cash consideration will be recognized as employee compensation on business acquisition, over three years (note 19). The deferred share consideration will be recognized as share-based compensation to an employee, over three years (note 13). The potential earn-out consideration is payable in cash (75%) and by Subordinate Voting Shares (25%), with a maximum of 1,517,151 Subordinate Voting Shares available for issuance with a value of US$3,505,000 ($4,511,000). The potential earn-out consideration has earn-out periods ending on each of the Anniversary Dates. On March 31, 2023, an amending agreement to the equity purchase agreement was executed wherein the condition for employment for the payment of the potential earn-out was removed (The “Earn-out Amendment”). From the acquisition date to the Earn-out Amendment date, the potential earn-out consideration payable in cash was treated as employee compensation, and was to be expensed over three years as the related services were to be provided, at the best estimate of the payout amount required to settle the present obligation at the end of the reporting period. The potential earn-out consideration payable in shares was treated as share-based compensation, which was to be expensed over the three-year vesting period. As a result of the Earn-out Amendment, a contingent consideration liability and expense, in the amount of $9,157,000 was recorded as at March 31, 2023, representing the present value of the expected payout amount for the potential earn-out over the next three years. The contingent consideration expense is recorded in business acquisition, integration and reorganization costs. The portion of the contingent consideration to be settled in shares is adjusted to reflect the number of awards for which the non-market performance conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that do meet the non-market performance conditions at the vesting dates. T he fair value of the assets acquired, liabilities assumed, and the purchase consideration’s valuation have been completed. For the year ended March 31, 2023, the Company incurred acquisition-related costs pertaining to the Datum Acquisition of approximately $1,369,000. These costs have been recorded in the consolidated statement of operations in business acquisition, integration and reorganization costs. 3. BUSINESS COMBINATIONS (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 Datum $ Current assets Cash 2,798 Accounts receivable and other receivables 3,552 Unbilled revenue 1,301 Prepaids 159 7,810 Non-current assets Other assets 2 Property and equipment 55 Right-of-use assets 135 Intangibles (note 7) 24,070 Goodwill (note 8) 13,696 Total assets acquired 45,768 Current liabilities Accounts payable and accrued liabilities 4,255 Deferred revenue 945 Current portion of lease liabilities 71 5,271 Non-current liabilities Lease liabilities 64 Deferred tax liabilities 6,398 Total liabilities assumed 11,733 Net assets acquired 34,035 As at March 31, 2023, upon final determination of the fair values, the intangibles value was increased by $1,545,000, goodwill value was reduced by $1,134,000 and deferred tax liabilities value was increased by $411,000. The effects of the adjustments to the purchase price were not material to the financial statements for the period from the acquisition date to March 31, 2023. 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 Datum into the Group's existing business. The Company does not expect the goodwill to be deductible for income tax purposes. 3. BUSINESS COMBINATIONS (CONT'D) Consideration paid The following table summarizes the acquisition date fair value of each class of consideration as follows: Acquisition of Datum $ Consideration transferred settled in cash 17,430 Issuance of 1,867,262 Subordinate Voting Shares (note 12) 5,552 Balance of purchase payable with a nominal value of US$9,345,000 ($12,028,000) (note 10) 11,053 Total consideration transferred 34,035 Datum's contribution to the Group results For the year ended March 31, 2023, the Datum business contributed revenues of approximately $16,326,000 and a loss before income taxes in the amount of $15,762,000, including amortization, primarily related to the acquired customer relationships, of $5,658,000, contingent consideration of $9,157,000, share-based compensation granted on business acquisitions of $2,644,000, and acquisition and integration costs of $2,099,000. If the acquisition had occurred on April 1, 2022, pro-forma consolidated revenues and loss before income taxes for the year ended March 31, 2023 would have been $526,492,000 and $38,991,000, respectively. These amounts have been calculated using Datum’s results and adjusting for: • differences in accounting policies between the Group and Datum; • the removal of transaction costs incurred by Datum from April 1, 2022 to June 30, 2022; and • the additional amortization that would have been charged assuming the fair value adjustments to intangibles had been applied from April 1, 2022. Trafic 3W inc. On April 1, 2022, the Company acquired all of the issued and outstanding shares of Trafic 3W inc. (the “Trafic3W Acquisition”) for total consideration of $2,005,000 , comprised of cash, in the amount of $900,000 , and a balance of purchase price payable in the amount of $1,105,000 . The actual amount paid at acquisition, net of the cash acquired in the amount of $86,000, was $814,000 , for a total consideration transferred of $1,919,000 . The purchase price was mostly allocated to intangible assets and goodwill, in the amount of $455,000 and $1,270,000 respectively. Intangible assets acquired at the date of acquisition consisted of customer relationships and goodwill, allocated to the Canada CGU. The balance of purchase price payable was settled in October 2022 with the issuance of 83,449 Subordinate Voting Shares, for a total value of $281,000 , and the balance, in the amount of $824,000 , was paid cash. 3. BUSINESS COMBINATIONS (CONT'D) Business combinations realized in the prior fiscal year ended March 31, 2022 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. 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 COMBINATIONS (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 (note 7) 52,777 Deferred tax assets 763 Goodwill (note 8) 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 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. 3. BUSINESS COMBINATIONS (CONT'D) 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 (note 12) 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 originally 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 was subject to working capital and other adjustments, and included an additional potential earn-out of up to US$1,000,000 ($1,270,000) payable before May 31, 2023. As at March 31, 2023, it was determined that no earn-out would be payable. The fair value of the assets acquired, the liabilities assumed, and the purchase consideration’s valuation have been completed during the year ended March 31, 2023. As a result of working capital and other adjustments, the total purchase consideration was reduced by US$830,000 ($1,049,000) during the year ended March 31, 2023, resulting in decrease in goodwill in the amount of $1,049,000 (note 8) . The effects of the adjustments to the purchase price were not material to the financial statements for the year ended March 31, 2022. 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 COMBINATIONS (CONT'D) Purchase Price Allocation As at March 31, 2022, the preliminary allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Vitalyst $ 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 (note 7) 26,323 Goodwill (note 8) 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. 3. BUSINESS COMBINATIONS (CONT'D) Consideration paid The following table summarizes the acquisition date fair value of each class of consideration as follows as disclosed as at March 31, 2022: Acquisition of Vitalyst $ Cash paid 16,420 Earn-out — Total consideration transferred 16,420 During the year ended March 31, 2023, t he consideration paid in cash was reduced by $1,049,000. Vitalyst's contribution to the Group results For the year ended March 31, 2022, the Vitalyst business contributed revenues of approximately $4,980,000, and a loss before income taxes 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. If the acquisition had occurred on April 1, 2021, consolidated pro-forma revenue and loss before incomes taxes for the year ended March 31, 2022 would have been $464,327,000 and $13,457,000, 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, 2023 | |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | |
Accounts Receivable and Other Receivables | ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES As at March 31, 2023 2022 $ $ Trade accounts receivable, net 90,007 98,289 Other receivables 2,446 2,578 92,453 100,867 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property and Equipment | PROPERTY AND EQUIPMENT As at March 31, 2023 March 31, 2022 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ $ Opening cost 1,874 4,925 8,494 15,293 1,738 2,889 6,149 10,776 Additions 89 1,321 326 1,736 56 1,444 219 1,719 Additions through business acquisitions (note 3) — 55 — 55 79 591 2,120 2,790 Disposals / retirements (325) (13) (758) (1,096) — — — — Foreign currency translation adjustment 87 504 19 610 1 1 6 8 Ending cost 1,725 6,792 8,081 16,598 1,874 4,925 8,494 15,293 Opening accumulated depreciation 448 2,083 2,350 4,881 111 1,100 1,116 2,327 Depreciation expense 280 1,344 1,183 2,807 337 996 1,235 2,568 Impairment 164 5 605 774 — — — — Disposals / retirements (325) (13) (758) (1,096) — — — — Foreign currency translation adjustment 84 410 14 508 — (13) (1) (14) Ending accumulated depreciation 651 3,829 3,394 7,874 448 2,083 2,350 4,881 Net carrying amount 1,074 2,963 4,687 8,724 1,426 2,842 6,144 10,412 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 $ $ Beginning balance 15,146 11,118 Additions 428 7,117 Depreciation (3,729) (2,867) Impairment (a) (2,923) — Reassessments (b) — (161) Exchange rate effect 431 (61) Net carrying amount 9,353 15,146 (a) During the year ended March 31, 2023, the Group recorded impairment charges against certain real estate right-of-use assets, in the context of on-going review of its real estate strategy following the integration of acquisitions and changes in working conditions in order to reduce the Group's footprint, realize synergies and improve the cost structure of the combined business. As a result, an impairment charge of $939,000 is presented in integration costs and the balance, in the amount of $1,984,000, is presented in selling, general and administrative expenses. (b) During the year ended March 31, 2022, 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 a long-term lease receivable, included in other assets, in the amounts of $849,000. 6. LEASES (CONT’D) Lease liabilities As at March 31, 2023 2022 $ $ Beginning balance 21,263 15,459 Additions 428 8,647 Lease payments (4,478) (3,413) Lease interest 825 725 Reassessments — (88) Exchange rate effect 478 (67) Ending balance 18,516 21,263 Current portion 3,873 3,510 14,643 17,753 Contractual lease payments under the lease liabilities as at March 31, 2023 are as follows: As at March 31, 2023 $ Less than one year 4,545 One to two years 5,219 Two to five years 7,197 More than five years 3,538 Total undiscounted lease payments at period end 20,499 Amounts recognized in net loss Year ended March 31, 2023 2022 $ $ Interest on lease liabilities 825 725 Common area maintenance 2,323 2,766 3,148 3,491 Total cash outflow for leases for the years ended March 31, 2023 and 2022 was $6,801,000 and $6,179,000, respectively. |
Intangibles
Intangibles | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangibles | INTANGIBLES |
Goodwill
Goodwill | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Goodwill | GOODWILL As at March 31, 2023 Canada France EPM ERP Data Solutions (b) Not allocated Total $ $ $ $ $ $ $ Beginning balance 77,135 128 8,852 29,005 — 30,968 146,088 Business acquisition (note 3) 1,270 — — — 13,696 (1,049) 13,917 Allocation (a) — — — 29,919 — (29,919) — Foreign currency translation adjustment — 8 740 4,943 697 — 6,388 Net carrying amount 78,405 136 9,592 63,867 14,393 — 166,393 As at March 31, 2022 Canada France EPM ERP Data Solutions Not allocated 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 adjustment — (9) (63) (205) — (530) (807) Net carrying amount 77,135 128 8,852 29,005 — 30,968 146,088 (a) During the year ended March 31, 2023, upon completion of the purchase price allocation, the Group allocated the goodwill from the Vitalyst Acquisition to the ERP CGU for the purpose of impairment testing. (b) Data Solutions is the CGU that relates to the goodwill from the Datum Acquisition for the purpose of impairment testing. The Group completed an annual impairment test as at March 31, 2023 and March 31, 2022 and concluded no impairment occurred. In assessing whether goodwill is impaired, the carrying amount of the CGU was compared to its recoverable amount. The recoverable amount of the CGU is based on the higher of the value in use and fair value less costs of disposal. Recoverable amount of ERP CGU for the year ended March 31, 2023 For the year ended March 31, 2023, the Group determined the recoverable amount of the ERP CGU based on the fair value less costs of disposal method. The fair value of the ERP CGU was based on a multiple applied to Adjusted EBITDA (as defined in note 25) for the next year, which considers financial forecasts approved by management (level 3 of the fair value hierarchy as per note 24). The key assumptions for the fair value less costs of disposal method include estimated revenues, and EBITDA margin in determining forecasted Adjusted EBITDA, as well as the multiple of 11 applied to forecasted Adjusted EBITDA. The Adjusted EBITDA multiple was obtained by using market comparables as a reference. The values assigned to the key assumptions represent management’s assessment of the future Adjusted EBITDA and have been based on historical data from external and internal sources. For the year ended March 31, 2023, the key assumptions related to ERP CGU, 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, 2023, assuming all other variables remain constant, would result in the recoverable amount being equal to the carrying amount. 8. GOODWILL (CONT’D) Incremental decrease in Adjusted EBITDA margin Incremental decrease in Adjusted EBITDA multiple Basis points Multiple ERP 231 2.4 For the year ended March 31, 2022, the Group determined the recoverable amount of the ERP CGU based on the value-in-use calculation, as described below. Recoverable amount of other CGUs, including ERP CGU for the year ended March 31, 2022 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 operating cash flows of each CGU is determined by applying a suitable 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, 2023 Canada France EPM ERP Data Solutions % % % % % Before tax WACC 14.3 20.2 18.4 N/A 19.1 Long-term growth rate of net operating cash flows (a) 1.9 1.5 1.8 N/A 1.8 (a) The long-term growth rate is based on published industry research. As at March 31, 2022 Canada France EPM ERP Data Solutions % % % % % Before tax WACC 11.9 16.7 15.2 15.3 — Long-term growth rate of net operating cash flows (a) 3.4 2.6 2.7 2.7 — (a) The long-term growth rate is based on published industry research. For the year ended March 31, 2023, no reasonable possible change in any of the above key assumptions would cause the carrying value of the France and Data Solutions CGUs to exceed their recoverable amount. 8. GOODWILL (CONT’D) For the year ended March 31, 2023, two key assumptions related to the Canada and EPM CGUs were identified that, if changed, could have caused the carrying amounts to exceed their recoverable amounts. Varying the assumptions in the values of the recoverable amount calculations, individually as indicated below, for the year ended March 31, 2023, assuming all other variables remain constant, would result in the recoverable amounts being equal to the carrying amounts. Incremental increase in before tax WACC Incremental decrease in long-term growth rate of net operating cash flows Basis points Basis points Canada 165 218 EPM 98 146 |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 $ $ Trade payable 53,145 53,507 Accrued compensation 33,835 31,396 Consumption taxes payable 4,071 3,694 Performance obligations in customer contracts 212 1,013 Provision — 50 91,263 89,660 |
Long-term Debt
Long-term Debt | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 $ $ Senior secured revolving credit facility (the "Credit Facility") (a) 82,512 66,631 Secured loans (b) 13,192 8,596 Subordinated unsecured loans (c) 20,000 17,500 Balance of purchase payable with a nominal value of $3,100,000, non-interest bearing (5.8% effective interest rate), paid in April 2022 — 3,100 Balance of purchase payable with a nominal value of $1,800,000, non-interest bearing (6.0% effective interest rate), paid in October 2022 — 1,748 Balance of purchase payable with a nominal value of $8,519,000 ($6,825,000 US), non-interest bearing (6.0% effective interest rate), paid in December 2022 — 8,178 Balance of purchase price payable with a nominal value of $12,641,000 (US$9,345,000), non-interest bearing (4.4% effective interest rate), payable in annual installments of $4,214,000 (US$3,115,000), maturing on July 1, 2025 11,993 — Deferral of employment tax payments (March 31, 2022 - US$1,219,000) — 1,521 Other — 120 Unamortized transaction costs (net of accumulated amortization of $1,184,000 and $754,000) (507) (718) 127,190 106,676 Current portion of long-term debt 12,808 19,316 114,382 87,360 (a) The Credit Facility is available to a maximum amount of $125,000,000 which can be increased under an accordion provision to $140,000,000, under certain conditions, 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. 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-year periods at the lender’s discretion. As at March 31, 2023 , the amount outstanding under the Credit Facility includes $82,512,000 (March 31, 2022 - $48,377,000 ) payable in U.S. dollars (US $61,000,000 ; March 31, 2022 - US $38,755,000). On October 27, 2022, the Group entered into an additional operating credit facility available to a maximum amount of $2,705,000 (US $2,000,000 ), bearing interest at U.S. prime rate plus 1.00%, with the same security and financial covenants as the Credit Facility. This operating credit facility can be terminated by the lender at any time. There was no amount outstanding under this additional operating credit facility as at March 31, 2023 . 10. LONG-TERM DEBT (CONT’D) (b) The secured loans issued by Investissement Québec to finance the Group’s refundable tax credits have the following terms and conditions: As at March 31, 2023 2022 $ $ Year of related Refundable Tax Credit Repayable on the earlier of the date of receipt of the refundable tax credits receivable and Bearing interest at 2021 March 31, 2023 Prime rate + 1,00% — 4,670 2022 March 31, 2024 Prime rate + 1,00% 8,719 3,926 2023 March 31, 2025 Prime rate + 1,25% 4,473 — 13,192 8,596 The maximum amount that can be financed for the 2022 and 2023 refundable tax credits is the lesser of 90% of the eligible refundable tax credits and $8,776,000 for 2022 and $10,670,000 for 2023. The loans are secured by a first ranking hypothec on the universality of the Group’s financed refundable tax credits receivable and a subordinated ranking hypothec on accounts receivable and other receivables. (c) The subordinated unsecured loans with Investissement Québec, in the amount of $20,000,000, mature on October 1, 2025. The first $10,000,000 bears fixed interest rates ranging between 6.00% and 7.25% and the additional $10,000,000 bears interest ranging between 7.10% and 8.35%, determined and payable quarterly, based on threshold limits for certain financial ratios. Under the terms of the loans, the Group is required to maintain compliance with certain financial covenants which are measured on a quarterly basis. (a)(c) The Group was in compliance with all of its financial covenants as at March 31, 2023 and 2022 . |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 Current tax expense (recovery): $ $ Current tax expense (recovery) for the year 569 (20) Deferred tax recovery: Recognition of previously unrecognized tax benefits related to tax losses (6,470) — Origination and reversal of temporary differences (356) (3,007) Total deferred tax recovery (6,826) (3,007) Total income tax recovery (6,257) (3,027) The Group’s effective income tax rate differs from the combined statutory tax rate as follows: Year ended March 31, 2023 2022 % $ % $ Loss before income taxes (36,354) (18,575) Company's statutory tax rate 26.5 (9,634) 26.5 (4,922) Non-deductible share-based compensation expense (3.1) 1,112 (3.6) 663 Other non-deductible and tax exempt items (8.8) 3,198 1.3 (238) Change in unrecognized deferred tax assets 0.7 (247) (7.2) 1,340 Other 1.9 (686) (0.7) 130 Effective income tax rate 17.2 (6,257) 16.3 (3,027) The Group’s applicable statutory tax rate is the Canadian combined rates applicable in the jurisdictions in which the Group operates. Deferred income tax assets and liabilities The amounts recognized in the consolidated statement of financial position consist of: As at March 31, 2023 2022 $ $ Deferred tax liabilities (8,632) (9,962) Deferred tax assets 5,997 7,247 (2,635) (2,715) 11. INCOME TAXES (CONT’D) Movements in temporary differences during the year were as follows: As at March 31, 2023 Opening Recognized Recognized in equity Business acquisition Foreign currency translation adjustment Total $ $ $ $ $ $ Losses available for carryforward and other tax deductions 17,268 972 — — — 18,240 Deferred financing costs 576 (102) 10 — — 484 Total deferred tax assets 17,844 870 10 — — 18,724 Intangibles and goodwill (15,439) 6,055 — (6,519) (237) (16,140) Tax credits and other (5,120) (99) — — — (5,219) Total deferred tax liability (20,559) 5,956 — (6,519) (237) (21,359) Net carrying amount (2,715) 6,826 10 (6,519) (237) (2,635) As at March 31, 2022 Opening Recognized Recognized in equity Business acquisition Foreign currency translation adjustment Total $ $ $ $ $ $ Losses available for carryforward and other tax deductions 13,116 2,804 — 1,348 — 17,268 Deferred financing costs 558 (110) 113 15 — 576 Total deferred tax assets 13,674 2,694 113 1,363 — 17,844 Intangibles and goodwill (6,129) 2,373 — (11,683) — (15,439) Tax credits and other (3,060) (2,060) — — — (5,120) Total deferred tax liability (9,189) 313 — (11,683) — (20,559) Net carrying amount 4,485 3,007 113 (10,320) — (2,715) During the year ended March 31, 2023, the Group recognized a deferred tax asset in the amount of $6,470,000 that was probable of being realized as a result of the deferred tax liability recognized pursuant to the Datum Acquisition (note 3). The recognized deferred tax asset relates to previous years' net operating losses of the Group in the U.S. available for carryforwards as at July 1, 2022 in the amount of approximately $24,359,000 that was previously not recognized. 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. 11. INCOME TAXES (CONT’D) Losses available for carryforward for which no deferred tax asset was recognized Expiry date Canada $ 2039 922 2040 390 2041 2,075 2042 3,516 2043 5,471 12,374 Losses available for carryforward for which no deferred tax asset was recognized Expiry date (a) USA $ 2037 13,328 Indefinite 16,387 29,715 (a) Net operating losses amounting to $20,292,000 of which $13,328,000 will expire in 2037, 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 $53,274,000 (with expiry dates ranging from 2024 to 2043) and ii) net deductible temporary differences totaling approximately $20,834,000 for which no deferred tax benefit has been recognized. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-Based Payments | SHARE-BASED PAYMENTS Share purchase plan Under the Company’s share purchase plan, the Group contributes an amount equal to a percentage of the employee’s basic contribution, depending on the position held by the employee. The employee may make additional contributions, for total employee contributions, including basic contributions, of up to 10% of the employee’s annual gross salary. However, the Group does not match contributions in the case of such additional contributions. The employee and the Group’s contributions are remitted to an independent administrative agent who purchases Subordinate Voting Shares on the open market on behalf of the employee through either the TSX or NASDAQ. NCIB On September 14, 2021, the Company’s Board of Directors authorized and subsequently the TSX approved the implementation of a NCIB. Under the NCIB, the Company was allowed to purchase for cancellation up to 5,462,572 Subordinate Voting Shares, representing 10% of the Company’s public float as of the close of markets on September 8, 2021. The NCIB plan authorized the Company to make purchases for cancellation during the period between September 20, 2021 and the earlier of September 19, 2022 and the date on which the Company would have acquired the maximum number of Subordinate Voting Shares allowable under the NCIB or would otherwise have decided not to make any further purchases. On September 14, 2022, the Company’s Board of Directors authorized and subsequently the TSX approved the renewal of its NCIB. Under the NCIB, the Company is allowed to purchase for cancellation up to 2,491,128 Subordinate Voting Shares, representing 5% of the Company’s public float as of the close of markets on September 8, 2022. The NCIB plan commenced on September 20, 2022 and will end on the earlier of September 19, 2023 and the date on which the Company will have acquired the maximum number of Subordinate Voting Shares allowable under the NCIB or will otherwise decide not to make any further purchases. All purchases of Subordinate Voting Shares are made by means of open market transactions at their market price at the time of acquisition. In connection with the NCIB, the Company entered into an automatic share purchase plan (“ASPP”) with a designated broker. The ASPP allows for the designated broker, to purchase for cancellation Subordinate Voting Shares, on behalf of the Company, subject to certain trading parameters established, from time to time, by the Company. LTIP The Company operates a LTIP which provides for awards of stock options, restricted shares, RSUs, PSUs, DSUs, and share appreciation rights to eligible employees and directors of the Company and its subsidiaries, all of which once exercised or settled result in the issuance of Subordinate Voting Shares. 13. SHARE-BASED PAYMENTS (CONT’D) Stock options Under the Company’s LTIP, the Board may grant, at its discretion, stock options to purchase Subordinate Voting Shares to eligible employees and directors of the Company and its subsidiaries. Until February 13, 2023, the LTIP provided that stock options be issued with an exercise price equal to the closing price of the Subordinate Voting Shares on the TSX on the business day immediately prior to the grant date. On February 13, 2023, the Board amended the LTIP to provide that stock options be issued with an exercise price equal to the volume weighted average price of the Subordinate Voting Shares on the TSX for the five trading days ending on and including the day that is immediately prior to the grant date. Stock options vest as set out in the applicable award agreement between the participant and the Company, which may include performance-based vesting conditions. Vesting is generally four years from the date of grant and the stock options shall be exercised by the tenth anniversary of the grant date, except in the event of death, disability, retirement or termination of employment, in which case the LTIP provides earlier terms. The LTIP provides that the aggregate number of Subordinate Voting Shares issuable pursuant to any type of awards under the LTIP shall not exceed 10% of the aggregate number of Subordinate Voting Shares and Multiple Voting Shares issued and outstanding from time to time. The following tables present information concerning outstanding stock options issued by currency: Year ended March 31, 2023 March 31, 2022 Number of stock options Weighted average exercise price (CAD) Number of stock options Weighted average exercise price (CAD) $ $ Beginning balance 3,079,598 3.19 2,607,528 3.10 Granted 626,230 3.25 774,202 3.23 Forfeited (67,500) 3.60 (148,000) 3.20 Expired (85,000) 3.65 — — Exercised (152,632) 2.27 (154,132) (1.92) Ending balance 3,400,696 3.23 3,079,598 3.19 Exercisable at year end 1,464,014 3.42 1,289,896 3.22 Year ended March 31, 2023 March 31, 2022 Number of stock options Weighted average exercise price (USD) Number of stock options Weighted average exercise price (USD) $ $ Beginning balance 1,004,484 2.63 917,653 3.08 Granted 265,125 2.50 299,100 2.66 Forfeited (94,475) 2.91 (44,167) 3.80 Expired (90,959) 2.92 (166,852) 4.84 Exercised — — (1,250) 1.67 Ending balance 1,084,175 2.55 1,004,484 2.63 Exercisable at year end 284,400 2.81 237,909 3.00 Included in the 1,464,014 (2022 - 1,289,896) stock options exercisable issued in Canadian dollars, 505,264 (2022 - 657,896) stock options are available to purchase Multiple Voting Shares as at March 31, 2023. 13. SHARE-BASED PAYMENTS (CONT’D) On June 21, 2022, Alithya issued 626,230 and 265,125 stock options, to purchase a total of 891,355 Subordinate Voting Shares, at a grant date fair value of $1.38 and US$1.06, respectively. On June 14, 2021, Alithya issued 774,202 and 299,100 stock options, to purchase a total of 1,073,302 Subordinate Voting Shares, at a grant date fair value of $1.20 and US$0.99, respectively. During the year ended March 31, 2023, the weighted average share price at the date of exercise of stock options was $2.66. (2022 - $3.40). The assumptions used to determine the 2023 and 2022 stock options grant date fair values using the Black-Scholes stock option pricing model were as follows: Year ended March 31, 2023 2022 Weighted average assumptions Share price $3.25 $3.23 Exercise price $3.25 $3.23 Risk-free interest rate 3.50 % 1.25 % Expected volatility (a) 35.0 % 34.7 % Dividend yield — — Expected option life (years) 6.6 6.6 Vesting conditions – time (years) 3.3 3.2 (a) Determined on the basis of observed volatility in publicly traded companies operating in similar industries. 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, 2023 March 31, 2022 Exercise price range (CAD) Number of stock options Weighted average remaining exercise period – in years Number of stock options Weighted average remaining exercise period – in years $ 1.90 to 2.55 735,264 5.44 892,896 5.52 2.56 to 2.96 295,000 2.63 298,500 3.64 2.97 to 3.30 1,366,432 8.15 760,202 8.26 3.31 to 3.95 564,000 5.48 673,000 5.71 3.96 to 4.55 440,000 5.59 455,000 6.59 3,400,696 6.31 3,079,598 6.21 As at March 31, 2023 March 31, 2022 Exercise price range (USD) Number of stock options Weighted average Number of stock options Weighted average $ 1.67 to 2.25 175,000 7.23 180,000 8.23 2.26 to 2.75 665,425 8.20 513,525 7.22 2.76 to 3.85 243,750 5.96 305,000 6.94 3.86 to 5.45 — — 5,959 0.81 1,084,175 7.54 1,004,484 7.28 13. SHARE-BASED PAYMENTS (CONT’D) DSUs a) DSUs under the LTIP Under the LTIP, the Board, subject to the provisions of the LTIP and such other terms and conditions, may grant DSUs to obtain Subordinate Voting Shares to eligible employees and directors of the Company and its subsidiaries. The DSUs shall be settled on the date as set out in the applicable award agreement, between the participant and the Company, however not earlier than the participant’s termination date. If the agreement does not establish a settlement date then it shall be the 90th day following the participant’s termination date for eligible Canadian participants and not earlier than the date that is six months after the termination date for eligible U.S. participants. The following table presents information concerning the outstanding number of DSUs for the respective years: Year ended March 31, 2023 2022 Beginning balance 439,521 330,246 Granted to non-employee directors 227,453 173,149 Settled — (63,874) Ending balance 666,974 439,521 The DSUs issued by the Company are fully vested at the grant date and the fair value of $579,000 (2022 - $576,000) has been recorded in share-based compensation expense. b) DSUs under the SUP Under the SUP, eligible employees of the Company may elect annually to receive up to 50% of their annual bonus in DSUs (“Bonus DSUs”). The Company also grants additional DSUs (“Matching DSUs”) equal to 25% of the Bonus DSUs. The number of Bonus DSUs to be received by an eligible employee is determined by dividing the amount of the eligible employee’s bonus to be paid in the form of Bonus DSUs on the date on which the bonus is payable to the eligible employee (the “Award Date”) by the volume weighted average price of the Subordinate Voting Shares on the TSX for the five trading days ending on and including the date that is immediately prior to the Award Date. Bonus DSUs vest as of the Award Date. Matching DSUs vest one year following the Award Date. For the year ended March 31, 2023, no Bonus DSUs or Matching DSUs have been awarded. Share-based compensation expense has been recorded in the amount of $671,000 (2022 - nil), as the related service and performance conditions are expected to be met. RSUs Under the LTIP, the Board, subject to the provisions of the LTIP and such other terms and conditions, may grant RSUs to obtain Subordinate Voting Shares to eligible employees and directors of the Company and its subsidiaries. RSUs vest on the third anniversary of the date of grant and settle as soon as practicable following the expiry of the vesting period, unless otherwise specified by the Board at the time of grant. As at March 31, 2023 and 2022, there was 181,498 fully-vested RSUs outstanding, in aggregate, which were granted on June 23, 2020. When those RSUs were issued, the Board determined that they would vest on the first anniversary date of the grant date and settle as soon as practicable following the third anniversary of the grant date. 13. SHARE-BASED PAYMENTS (CONT’D) PSUs Under the LTIP, the Board, subject to the provisions of the LTIP and such other terms and conditions, may grant PSUs to obtain Subordinate Voting Shares to eligible employees and directors of the Company and its subsidiaries. The terms and conditions of each PSUs grant, including market and non-market performance goals, are determined by the Board. The following table presents information concerning the outstanding number of PSUs for the respective years: Year ended March 31, 2023 2022 Beginning balance 332,263 — Granted 528,120 332,263 Forfeited (5,000) — Ending balance 855,383 332,263 On June 21, 2022, 528,120 PSUs, in aggregate, vesting three years from the date of grant were granted at a grant date fair value of $3.25, per PSU, for an aggregate fair value of $1,716,000. On June 14, 2021, 332,263 PSUs, in aggregate, vesting three years from the date of grant were granted at a grant date fair value of $3.24, per PSU, for an aggregate fair value of $1,077,000. Share-Based Compensation expense Total share-based compensation expense for the years ended March 31, 2023 and 2022 is summarized as follows: Year ended March 31, 2023 2022 $ $ Stock options 1,262 851 Share purchase plan – employer contribution 1,372 1,138 Share-based compensation granted on business acquisitions 2,995 1,524 DSUs 1,250 576 RSUs — 92 PSUs 1,233 273 8,112 4,454 13. SHARE-BASED PAYMENTS (CONT’D) The share-based compensation granted on business acquisitions includes the following: • In relation to the Subordinate Voting Shares, to be issued as part of the acquisition of Matricis Informatique Inc., an amount of $100,000 (2022 - $350,000); • In relation to the Subordinate Voting Shares, to be issued as part of the acquisition of Groupe Askida Inc. and Askida Consulting Services Inc., an amount of nil (2022 - $453,000); • In relation to the Subordinate Voting Shares, to be issued as part of the acquisition of Travercent LLC, an amount of $251,000 (2022 - $721,000); and • In relation to the Subordinate Voting Shares, to be issued as part of the Datum Acquisition, an amount of $2,644,000 (2022 - nil). |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 Technology licenses, infrastructure and other Total 2024 9,176 2025 3,299 2026 1,355 2027 1,367 Thereafter 4,119 19,316 |
Related Parties
Related Parties | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Related Parties | RELATED PARTIES Ultimate controlling party As at March 31, 2023, the holders of Multiple Voting Shares, directly or indirectly, collectively owned or exercised control over Subordinate Voting Shares and Multiple Voting Shares representing approximately 45.84% 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, 2023 2022 $ $ Director compensation, and key management salaries and benefits ( a) 4,101 4,312 Share-based compensation 3,081 1,325 Termination benefits — 317 7,182 5,954 ( a) 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 $6,624,000 (2022 - $5,122,000) 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. As at March 31, 2023, the entity was no longer a related party as its controlling shareholder ceased to be a director of the Group on September 14, 2022. Year ended March 31, 2023 2022 $ $ Revenues (a) 6,811 21,100 (a) Under a ten-year commercial agreement, ending in April 2031, an entity controlled by a former 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. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Mar. 31, 2023 | |
Earnings per share [abstract] | |
Earnings Per Share | EARNINGS PER SHARE Year ended March 31, 2023 2022 $ $ Net loss (30,097) (15,548) Weighted average number of Shares outstanding 94,178,549 85,297,843 Basic and diluted loss per share (0.32) (0.18) The potentially dilutive outstanding equity instruments, which are DSUs, RSUs and vested options in the money mentioned in Note 13, 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, 2023 | |
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, 2023 March 31, 2022 Contingent consideration Current Long-term Total Current Long-term Total $ $ $ $ $ $ $ Beginning balance — 19,316 87,360 106,676 35,134 19,817 54,951 Repayment — (20,362) (77,156) (97,518) (42,590) (103,919) (146,509) Proceeds — — 98,682 98,682 — 156,768 156,768 Total cash flow — (20,362) 21,526 1,164 (42,590) 52,849 10,259 Business acquisition (note 3) 9,157 3,684 7,369 20,210 38,584 8,887 47,471 Amortization of finance costs — — 430 430 — 277 277 Interest accretion on balances of purchase payable — 393 391 784 — 823 823 PPP loan forgiveness — — — — — (5,868) (5,868) Impacts of foreign exchange — 1,250 5,833 7,083 (9) (1,228) (1,237) Reclassification other long-term debt — 8,527 (8,527) — (11,803) 11,803 — Total non cash 9,157 13,854 5,496 28,507 26,772 14,694 41,466 Ending balance 9,157 12,808 114,382 136,347 19,316 87,360 106,676 |
Additional Information on Conso
Additional Information on Consolidated Loss | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 $ $ Expenses by Nature Employee compensation and subcontractor costs 469,210 411,669 Government assistance – tax credits (a) (10,686) (10,870) – grants and loan forgiveness (b) — (6,234) Licenses and telecommunications 9,789 6,848 Professional fees 7,496 5,911 Other expenses 18,882 13,246 Impairment of property and equipment and right-of-use assets (note 5, 6) 2,758 — Depreciation of property and equipment 2,807 2,568 Depreciation of right-of-use assets 3,729 2,867 503,985 426,005 Expenses by Function Cost of revenues 370,927 321,732 Selling, general and administrative expenses 126,522 98,838 Depreciation 6,536 5,435 503,985 426,005 (a) Tax credits are included in cost of revenues, except for an amount of $189,000 (2022 - $239,000) that was included in selling, general and administrative expenses. (b) Grants and loan forgiveness are included in cost of revenues, except for an amount of $1,324,000 that was included in selling, general and administrative expenses for the year ended March 31, 2022. Included in grants and loan forgiveness for the year ended March 31, 2022 was $5,868,000 related to the forgiveness of two loans received under the Paycheck Protection Program ("PPP") of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). |
Business acquisition, integrati
Business acquisition, integration and reorganization costs | 12 Months Ended |
Mar. 31, 2023 | |
Business acquisition, integration and reorganization costs [Abstract] | |
Business acquisition, integration and reorganization costs | BUSINESS ACQUISITION, INTEGRATION AND REORGANIZATION COSTS Year ended March 31, 2023 2022 $ $ Acquisition costs (a) 1,554 3,964 Integration costs (b) 2,189 6,808 Reorganization costs related to modifications to cost structure (c) 4,582 845 Employee compensation on business acquisition (note 3) (d) 597 — Contingent consideration (note 3) 9,157 — 18,079 11,617 (a) The acquisition costs consisted mainly of professional fees incurred in relation to business acquisitions (note 3). (b) For the year ended March 31, 2023, integration costs consisted mostly of $939,000 for impairment of right-of-use assets previously acquired as part of business combinations (note 6) (2022 - $2,820,000 for employee termination and benefits costs and the balance mostly related to professional fees incurred in relation to business integration). (c) Reorganization costs related to modifications to cost structure consisted of employee termination and benefits costs. (d) Employee compensation on business acquisition included deferred cash consideration from the Datum Acquisition (note 3). |
Net Financial Expenses
Net Financial Expenses | 12 Months Ended |
Mar. 31, 2023 | |
Financial Expense [Abstract] | |
Net Financial Expenses | NET FINANCIAL EXPENSES The following table summarizes net financial expenses: Year ended March 31, 2023 2022 $ $ Interest on long-term debt 7,087 2,402 Interest and financing charges 558 432 Interest on lease liabilities 825 725 Amortization of finance costs 430 277 Interest accretion on balances of purchase payable 784 823 Interest income (349) (80) 9,335 4,579 |
Supplementary Cash Flow Informa
Supplementary Cash Flow Information | 12 Months Ended |
Mar. 31, 2023 | |
Supplementary Cash Flow Information [Abstract] | |
Supplementary Cash Flow Information | SUPPLEMENTARY CASH FLOW INFORMATION Changes in non-cash working capital items are as follows : As at March 31, 2023 2022 $ $ Accounts receivable and other receivables 15,750 (15,894) Income taxes receivable — 628 Other assets 103 — Unbilled revenues (4,482) 865 Tax credits receivable (1,606) (5,688) Prepaids (940) (765) Accounts payable and accrued liabilities (6,159) 17,651 Deferred revenues (366) 2,083 2,300 (1,120) During the year ended March 31, 2023, non-cash investing and financing activities included additions to right-of-use assets and lease liabilities in the amount of $293,000 (2022 - $67,000) and $103,000 (2022 - nil) of other assets were reclassified to accounts receivable and other receivables. |
Segment and Geographical Inform
Segment and Geographical Information | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Segment and Geographical Information | SEGMENT AND GEOGRAPHICAL INFORMATION The Group has three reportable segments: Canada, U.S. and International. The Group's chief operating decision maker assesses the performance of the reportable segments based on revenues and operating income by segment. Operating income by segment refers to operating income before head office general and administrative expenses and business acquisition, integration and reorganization costs, which are not considered when assessing the underlying financial performance of the reportable segments. Head office general and administrative expenses are expenses and salaries related to centralized functions, such as global finance, legal, human resources and technology teams, which are not allocated to segments. This measure also excludes the effects of depreciation, amortization and foreign exchange loss (gain). The accounting policies of each reportable segment are the same as described in Note 2. The revenues and operating income by segment exclude intersegmental revenues and cost of revenues. The following tables present the Group's operations based on reportable segments: Year ended March 31, 2023 Canada U.S. International Total $ $ $ $ Revenues 312,349 189,883 20,469 522,701 Operating income by segment 35,964 26,736 2,953 65,653 Head office general and administrative expenses 40,401 Business acquisition, integration and reorganization costs 18,079 Foreign exchange loss (gain) 159 Operating income before depreciation and amortization 7,014 Depreciation and amortization 34,033 Operating loss (27,019) Year ended March 31, 2022 Canada U.S. International Total $ $ $ $ Revenues 284,614 139,519 13,752 437,885 Operating income by segment 25,420 18,996 1,253 45,669 Head office general and administrative expenses 28,354 Business acquisition, integration and reorganization costs 11,617 Foreign exchange loss (gain) (26) Operating income before depreciation and amortization 5,724 Depreciation and amortization 19,720 Operating loss (13,996) 22. 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, 2023 2022 $ % $ % Canada 138,450 47.9 154,251 56.4 U.S. 148,316 51.4 118,023 43.1 International 2,039 0.7 1,299 0.5 288,805 100.0 273,573 100.0 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, 2023 Canada U.S. International Total $ $ $ $ Consulting services - time and materials arrangements 264,542 115,145 18,263 397,950 Consulting services - fixed-fee arrangements 34,062 25,834 2,201 62,097 Subscription, software and other revenues 13,745 48,904 5 62,654 312,349 189,883 20,469 522,701 Year ended March 31, 2022 Canada U.S. International Total $ $ $ $ Consulting services - time and materials arrangements 240,043 105,722 13,343 359,108 Consulting services - fixed-fee arrangements 34,802 14,098 409 49,309 Subscription, software and other revenues 9,769 19,699 — 29,468 284,614 139,519 13,752 437,885 During the year ended March 31, 2023 and 2022, significantly all amounts included in the opening balance of deferred revenues were recognized as revenue. Major customer During the year ended March 31, 2023, two clients generated individually more than 10% of total revenues for $109,743,000 (2022 - one client generated more than 10% of total revenues for $63,391,000). As at March 31, 2023, accounts receivable and other receivables from one major customer amounted to $10,777,000 or 11.7% of total accounts receivable and other receivables (2022 - one major customer amounted to $19,771,000 or 19.6%). |
Revenue from contracts with cus
Revenue from contracts with customers | 12 Months Ended |
Mar. 31, 2023 | |
Remaining Performance Obligations [Abstract] | |
Disclosure of transaction price allocated to remaining performance obligations [text block] | REMAINING PERFORMANCE OBLIGATIONS Remaining performance obligations relates to the Group’s performance obligations that are partially or fully unsatisfied under signed time and material contracts with ceilings and fixed-fee arrangements. When estimating minimum transaction prices allocated to the remaining unsatisfied, or partially unsatisfied, performance obligations, the Group applied the practical expedient to not disclose information about remaining performance obligations if the underlying contract has an original expected duration of one year or less and for those contracts where we bill the same value as that which is transferred to the customer. The amount of the selling price allocated to remaining performance obligations as at March 31, 2023 is $30,989,000 (2022 - $42,337,000) and is expected to be recognized as revenue within a weighted average of 1.6 years (2022 - 1.3 years). |
Capital Disclosures
Capital Disclosures | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure Of Capital Disclosures [Abstract] | |
Capital Disclosure | CAPITAL DISCLOSURES The Group's capital consists of 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 (including issuing new debt to replace existing debt with different characteristics), or reduce the amount of existing debt. Total capital as at March 31, 2023 and 2022 is calculated as follows: As at March 31, 2023 2022 $ $ Cash (22,583) (17,655) Restricted cash — (3,254) Current portion of long-term debt 12,808 19,316 Contingent consideration 9,157 — Long-term debt 114,382 87,360 Share capital 311,967 305,222 Deficit (141,481) (111,654) Accumulated other comprehensive income (loss) 4,610 (947) Contributed surplus 11,972 7,130 300,832 285,518 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, impairment, 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. 25. CAPITAL DISCLOSURES (CONT’D) 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 statements 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, 2023 and 2022. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2023 | |
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 7, 2023. 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 resulting from 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; • Equity classified share-based payment arrangements which are measured at fair value at grant date pursuant to IFRS 2, Share-Based Payment; and • Derivatives, which are initially recognized at fair value on the date the derivative contract is entered into and are subsequently re‑measured at their fair value at the end of each reporting period. Certain figures have been reclassified to conform to the current year presentation. |
Changes in accounting policy | CHANGE IN ACCOUNTING POLICY IAS 7 Statement of Cash Flows IAS 7 prescribes that interest paid is to be classified as operating cash flows (the Group’s previous classification), or alternatively, interest paid may be classified as financing cash flows. As at October 1, 2022, as a result of recent business acquisitions financed through its senior revolving credit facility and balance of purchase price payable, the Group changed its cash flow presentation to present interest paid as financing cash flows instead of operating cash flows. This presentation provides more relevant information regarding the cash flows of the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) This change in accounting policy has been applied retrospectively. Changes to the comparative amounts in the Group’s consolidated statements of cash flows are as follows: For the year ended March 31, 2022 As previously reported Adjustment Restated amount $ $ $ Net cash from (used in) operating activities (1,629) 3,479 1,850 Net cash from financing activities 31,396 (3,479) 27,917 |
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. 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. The Company’s principal subsidiaries are as follows: 2023 2022 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% 9466-6997 Québec Inc. Quebec, Canada 100% — Alithya Digital Technology Corporation Ontario, Canada 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% Vitalyst, LLC Delaware, USA 100% 100% Datum Consulting Group, LLC Indiana, USA 100% — Alithya France SAS France 100% 100% DCG Team UK Limited United Kingdom 100% — Datum Consulting Group Australia Pty Limited Australia 100% — Alithya Numérique Maroc SARLAU Morocco 100% 100% Datum Cybertech India Pvt Ltd. India 100% — On April 1, 2022, Alithya Consulting Inc. acquired all of the shares of Trafic 3W Inc. (note 3). Immediately following such acquisition, Trafic 3W Inc. was amalgamated with Alithya Consulting Inc. |
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. Any contingent consideration to be transferred by the acquirer is recognized at fair value at the acquisition date. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. Contingent consideration classified as a financial liability is remeasured at fair value with the changes in fair value recognized in the consolidated statements of operations and comprehensive loss. |
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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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. |
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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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. 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. 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. Contractual billings of such arrangements correspond with the value provided to the client, and therefore revenues are recognized when amounts become billable. 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. For certain contracts, the Group recognizes revenue based on its right to consideration when such amount corresponds to the entity’s performance completed to date. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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. 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. 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. 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. Group created software, and the associated maintenance, is reported on a gross basis and revenue is recognized point in time when it is distinct from the maintenance and support, otherwise it is recognized over time. Revenue from the sale of Group created software from software as a service ("SaaS") is recognized over time, on a straight line basis as the Group stands ready to provide customers with continuous access to its software over the contractual term. For a SaaS arrangement with a fee structure based upon customer usage and priced at a fixed rate for usage, the Group recognizes revenue based on its right to consideration when such amount corresponds to the entity’s performance completed to date. 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, material and an allocation of other costs that relate directly to fulfilling contracts 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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. Subsequent measurement of 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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. Impairment of 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. 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, contingent consideration 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. Accounts payable and accrued liabilities, and long-term debt are financial liabilities which are subsequently measured at amortized cost using the effective interest method. Financial liabilities designated at FVTPL which include contingent consideration, 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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-interest bearing vendor financing arising from business combinations, amortization of the unwinding of the discount on provisions, amortization of finance costs and other interest and bank charges. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The Group enters into derivative financial instruments to manage its exposure to interest rate risks . The resulting gain or loss on re-measurement at the fair value of the derivatives is recognized in the consolidated statements of operations, unless the derivative is designated and is effective as a hedging instrument, in which event the timing of the recognition in the consolidated statements of operations depends on the nature of the hedge relationship. The cash flows of the hedging instruments are classified in the same manner as the cash flows of the item being hedged. The Group documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The documentation includes the identification of the nature of the risk being hedged, the economic relationship between the hedged items and the hedging instruments which should not be dominated by credit risk, the hedge ratio consistent with the risk management strategy pursued and how the Company will assess the effectiveness of the hedging relationship on an ongoing basis. Management evaluates hedge effectiveness at inception of the hedge instrument and quarterly thereafter. Hedge effectiveness is measured prospectively as the extent to which changes in the fair value or cash flows of the derivative offsets the changes in the fair value or cash flows of the underlying hedged item or risk when there is a significant mismatch between the terms of the hedging instrument and the hedged item. Cash flow hedge The effective portion of the change in the fair value of the derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income. It is reclassified out of other comprehensive income into the consolidated statements of operations when the hedged item is recognized in the consolidated statements of operations. The gain or loss relating to the ineffective portion, if any, is recognized immediately in the consolidated statements of operations. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at that time remains in equity and is recognized when the forecasted transaction is ultimately recognized in net loss. When a forecasted transaction is no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to net loss. |
Earnings per Share | EARNINGS PER SHARE Basic earnings (loss) per share is calculated by dividing the net earnings (loss) attributable to the holders of Shares (as defined further herein) by the weighted average number of Shares outstanding during the period. The net earnings (loss) attributable to the holders of 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 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 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. “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. 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. |
Intangibles | INTANGIBLES Intangible assets consist mainly of customer relationships, non-compete agreements and internal-use business solutions, software licenses and tradenames. 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, non-compete agreements, internal-use business solutions, software licenses and tradenames acquired through business combinations are initially recorded at their fair value. The Group amortizes its intangible assets using the straight-line method as follows : Method Period Customer relationships Straight line 3 - 10 years Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years Tradenames - Indefinite 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. Goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, are tested for impairment at least annually 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 and which 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, impairment of right-of-use assets from previous business combinations, gains or losses on disposal of non-core assets, transition costs relating to system integrations, contingent consideration (note 3), including changes in fair value as well as employee compensation related to business acquisitions and 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. 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 13. |
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 as 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 RSUs and PSUs in cash. The Company accounts for the RSUs and PSUs as equity-settled awards as the Board intends to settle these awards through the issuance of share capital. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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 as at the grant date. The terms and conditions of each grant of PSUs, 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 as 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 are made by the Board. Forfeitures, which are estimated at the time of grant, 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. The following are critical judgements that management has made in applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements: 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, ERP and Data Solutions. 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 three reportable segments based on geography: Canada, U.S. and International. The following are assumptions and estimation uncertainties that have a significant risk of resulting in material adjustments within the next year: 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 generally 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Impairment of long-lived assets – The Group’s impairment test for goodwill is based on internal estimates of either the value-in-use calculations using valuation models such as the discounted cash flow model or the fair value less costs of disposal calculations using valuation models such as a multiple applied to Adjusted EBITDA. 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 pre-tax value weighted average cost of capital (“WACC”) . Key assumptions used in the fair value less cost of disposal calculations include estimated revenues and EBITDA margin in determining forecasted Adjusted EBITDA, as well as the multiple applied to forecasted Adjusted EBITDA. 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. 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. |
Future Accounting Standards | ACCOUNTING STANDARD AMENDMENTS EFFECTIVE FOR THE YEAR ENDING MARCH 31, 2023 The following amendment to existing standards was adopted by the Group on April 1, 2022 and had no significant impact on the Group’s consolidated financial statements. Onerous Contracts, Cost of Fulfilling a Contract In May 2020, the IASB issued Onerous Contracts - Cost of Fulfilling a Contract, which includes amendments to IAS 37. The amendments specify which costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. The full cost approach considers that the 'cost of fulfilling' a contract comprises the 'costs that relate directly to the contract'. Costs that relate directly to a contract include incremental costs of fulfilling that contract and an allocation of other costs that relate directly to fulfilling contracts. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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: 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. 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. After reconsidering certain aspects of the 2020 amendments, the IASB reconfirmed that only covenants with which a company must comply on or before the reporting date affect the classification of a liability as current or non-current. Additional disclosure will be required to help users understand the risk that those liabilities could become repayable within twelve months after the reporting date. 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. The amendments to IAS 1 apply retrospectively and are effective for annual periods beginning on or after January 1, 2024, with earlier application permitted. Management is currently evaluating the impact of the amendment on its 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 . 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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. 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. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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. The Company’s principal subsidiaries are as follows: 2023 2022 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% 9466-6997 Québec Inc. Quebec, Canada 100% — Alithya Digital Technology Corporation Ontario, Canada 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% Vitalyst, LLC Delaware, USA 100% 100% Datum Consulting Group, LLC Indiana, USA 100% — Alithya France SAS France 100% 100% DCG Team UK Limited United Kingdom 100% — Datum Consulting Group Australia Pty Limited Australia 100% — Alithya Numérique Maroc SARLAU Morocco 100% 100% Datum Cybertech India Pvt Ltd. India 100% — On April 1, 2022, Alithya Consulting Inc. acquired all of the shares of Trafic 3W Inc. (note 3). Immediately following such acquisition, Trafic 3W Inc. was amalgamated with Alithya Consulting Inc. |
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, 2023 March 31, 2022 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ $ Opening cost 1,874 4,925 8,494 15,293 1,738 2,889 6,149 10,776 Additions 89 1,321 326 1,736 56 1,444 219 1,719 Additions through business acquisitions (note 3) — 55 — 55 79 591 2,120 2,790 Disposals / retirements (325) (13) (758) (1,096) — — — — Foreign currency translation adjustment 87 504 19 610 1 1 6 8 Ending cost 1,725 6,792 8,081 16,598 1,874 4,925 8,494 15,293 Opening accumulated depreciation 448 2,083 2,350 4,881 111 1,100 1,116 2,327 Depreciation expense 280 1,344 1,183 2,807 337 996 1,235 2,568 Impairment 164 5 605 774 — — — — Disposals / retirements (325) (13) (758) (1,096) — — — — Foreign currency translation adjustment 84 410 14 508 — (13) (1) (14) Ending accumulated depreciation 651 3,829 3,394 7,874 448 2,083 2,350 4,881 Net carrying amount 1,074 2,963 4,687 8,724 1,426 2,842 6,144 10,412 |
Summary of Amortization Method of Intangible Assets | The Group amortizes its intangible assets using the straight-line method as follows : Method Period Customer relationships Straight line 3 - 10 years Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years Tradenames - Indefinite |
Schedule Of Changes In Cash Flow Statement, Accounting Policies | This change in accounting policy has been applied retrospectively. Changes to the comparative amounts in the Group’s consolidated statements of cash flows are as follows: For the year ended March 31, 2022 As previously reported Adjustment Restated amount $ $ $ Net cash from (used in) operating activities (1,629) 3,479 1,850 Net cash from financing activities 31,396 (3,479) 27,917 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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 Datum $ Current assets Cash 2,798 Accounts receivable and other receivables 3,552 Unbilled revenue 1,301 Prepaids 159 7,810 Non-current assets Other assets 2 Property and equipment 55 Right-of-use assets 135 Intangibles (note 7) 24,070 Goodwill (note 8) 13,696 Total assets acquired 45,768 Current liabilities Accounts payable and accrued liabilities 4,255 Deferred revenue 945 Current portion of lease liabilities 71 5,271 Non-current liabilities Lease liabilities 64 Deferred tax liabilities 6,398 Total liabilities assumed 11,733 Net assets acquired 34,035 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 (note 7) 52,777 Deferred tax assets 763 Goodwill (note 8) 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 As at March 31, 2022, the preliminary allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Vitalyst $ 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 (note 7) 26,323 Goodwill (note 8) 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 Datum $ Consideration transferred settled in cash 17,430 Issuance of 1,867,262 Subordinate Voting Shares (note 12) 5,552 Balance of purchase payable with a nominal value of US$9,345,000 ($12,028,000) (note 10) 11,053 Total consideration transferred 34,035 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 (note 12) 80,585 Total consideration transferred 81,563 The following table summarizes the acquisition date fair value of each class of consideration as follows as disclosed as at March 31, 2022: Acquisition of Vitalyst $ 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, 2023 | |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | |
Summary of Accounts Receivable and Other Receivables | As at March 31, 2023 2022 $ $ Trade accounts receivable, net 90,007 98,289 Other receivables 2,446 2,578 92,453 100,867 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 March 31, 2022 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ $ Opening cost 1,874 4,925 8,494 15,293 1,738 2,889 6,149 10,776 Additions 89 1,321 326 1,736 56 1,444 219 1,719 Additions through business acquisitions (note 3) — 55 — 55 79 591 2,120 2,790 Disposals / retirements (325) (13) (758) (1,096) — — — — Foreign currency translation adjustment 87 504 19 610 1 1 6 8 Ending cost 1,725 6,792 8,081 16,598 1,874 4,925 8,494 15,293 Opening accumulated depreciation 448 2,083 2,350 4,881 111 1,100 1,116 2,327 Depreciation expense 280 1,344 1,183 2,807 337 996 1,235 2,568 Impairment 164 5 605 774 — — — — Disposals / retirements (325) (13) (758) (1,096) — — — — Foreign currency translation adjustment 84 410 14 508 — (13) (1) (14) Ending accumulated depreciation 651 3,829 3,394 7,874 448 2,083 2,350 4,881 Net carrying amount 1,074 2,963 4,687 8,724 1,426 2,842 6,144 10,412 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 $ $ Beginning balance 15,146 11,118 Additions 428 7,117 Depreciation (3,729) (2,867) Impairment (a) (2,923) — Reassessments (b) — (161) Exchange rate effect 431 (61) Net carrying amount 9,353 15,146 (a) During the year ended March 31, 2023, the Group recorded impairment charges against certain real estate right-of-use assets, in the context of on-going review of its real estate strategy following the integration of acquisitions and changes in working conditions in order to reduce the Group's footprint, realize synergies and improve the cost structure of the combined business. As a result, an impairment charge of $939,000 is presented in integration costs and the balance, in the amount of $1,984,000, is presented in selling, general and administrative expenses. (b) During the year ended March 31, 2022, 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 a long-term lease receivable, included in other assets, in the amounts of $849,000. |
Summary of Lease Liabilities | Lease liabilities As at March 31, 2023 2022 $ $ Beginning balance 21,263 15,459 Additions 428 8,647 Lease payments (4,478) (3,413) Lease interest 825 725 Reassessments — (88) Exchange rate effect 478 (67) Ending balance 18,516 21,263 Current portion 3,873 3,510 14,643 17,753 |
Contractual Lease Payments Under Lease Liabilities | Contractual lease payments under the lease liabilities as at March 31, 2023 are as follows: As at March 31, 2023 $ Less than one year 4,545 One to two years 5,219 Two to five years 7,197 More than five years 3,538 Total undiscounted lease payments at period end 20,499 |
Amounts Recognized in Net Loss | Amounts recognized in net loss Year ended March 31, 2023 2022 $ $ Interest on lease liabilities 825 725 Common area maintenance 2,323 2,766 3,148 3,491 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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 as follows : Method Period Customer relationships Straight line 3 - 10 years Non-compete agreements Straight line 3 - 10 years Software Straight line 3 years Tradenames - Indefinite |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Key Assumptions Used in Impairment Testing by CGU | Key assumptions used in impairment testing by CGU are as follows: As at March 31, 2023 Canada France EPM ERP Data Solutions % % % % % Before tax WACC 14.3 20.2 18.4 N/A 19.1 Long-term growth rate of net operating cash flows (a) 1.9 1.5 1.8 N/A 1.8 (a) The long-term growth rate is based on published industry research. As at March 31, 2022 Canada France EPM ERP Data Solutions % % % % % Before tax WACC 11.9 16.7 15.2 15.3 — Long-term growth rate of net operating cash flows (a) 3.4 2.6 2.7 2.7 — (a) 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 calculations, individually as indicated below, for the year ended March 31, 2023, assuming all other variables remain constant, would result in the recoverable amounts being equal to the carrying amounts. Incremental increase in before tax WACC Incremental decrease in long-term growth rate of net operating cash flows Basis points Basis points Canada 165 218 EPM 98 146 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | |
Summary of Accounts Payable and Accrued Liabilities | As at March 31, 2023 2022 $ $ Trade payable 53,145 53,507 Accrued compensation 33,835 31,396 Consumption taxes payable 4,071 3,694 Performance obligations in customer contracts 212 1,013 Provision — 50 91,263 89,660 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of detailed information about borrowings [abstract] | |
Schedule of Long Term Debt | (a) The Credit Facility is available to a maximum amount of $125,000,000 which can be increased under an accordion provision to $140,000,000, under certain conditions, 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. 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-year periods at the lender’s discretion. As at March 31, 2023 , the amount outstanding under the Credit Facility includes $82,512,000 (March 31, 2022 - $48,377,000 ) payable in U.S. dollars (US $61,000,000 ; March 31, 2022 - US $38,755,000). On October 27, 2022, the Group entered into an additional operating credit facility available to a maximum amount of $2,705,000 (US $2,000,000 ), bearing interest at U.S. prime rate plus 1.00%, with the same security and financial covenants as the Credit Facility. This operating credit facility can be terminated by the lender at any time. There was no amount outstanding under this additional operating credit facility as at March 31, 2023 . 10. LONG-TERM DEBT (CONT’D) (b) The secured loans issued by Investissement Québec to finance the Group’s refundable tax credits have the following terms and conditions: As at March 31, 2023 2022 $ $ Year of related Refundable Tax Credit Repayable on the earlier of the date of receipt of the refundable tax credits receivable and Bearing interest at 2021 March 31, 2023 Prime rate + 1,00% — 4,670 2022 March 31, 2024 Prime rate + 1,00% 8,719 3,926 2023 March 31, 2025 Prime rate + 1,25% 4,473 — 13,192 8,596 The maximum amount that can be financed for the 2022 and 2023 refundable tax credits is the lesser of 90% of the eligible refundable tax credits and $8,776,000 for 2022 and $10,670,000 for 2023. The loans are secured by a first ranking hypothec on the universality of the Group’s financed refundable tax credits receivable and a subordinated ranking hypothec on accounts receivable and other receivables. (c) The subordinated unsecured loans with Investissement Québec, in the amount of $20,000,000, mature on October 1, 2025. The first $10,000,000 bears fixed interest rates ranging between 6.00% and 7.25% and the additional $10,000,000 bears interest ranging between 7.10% and 8.35%, determined and payable quarterly, based on threshold limits for certain financial ratios. Under the terms of the loans, the Group is required to maintain compliance with certain financial covenants which are measured on a quarterly basis. (a)(c) The Group was in compliance with all of its financial covenants as at March 31, 2023 and 2022 . |
Secured Loans Issued By Investissement Québec | The secured loans issued by Investissement Québec to finance the Group’s refundable tax credits have the following terms and conditions: As at March 31, 2023 2022 $ $ Year of related Refundable Tax Credit Repayable on the earlier of the date of receipt of the refundable tax credits receivable and Bearing interest at 2021 March 31, 2023 Prime rate + 1,00% — 4,670 2022 March 31, 2024 Prime rate + 1,00% 8,719 3,926 2023 March 31, 2025 Prime rate + 1,25% 4,473 — 13,192 8,596 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 Current tax expense (recovery): $ $ Current tax expense (recovery) for the year 569 (20) Deferred tax recovery: Recognition of previously unrecognized tax benefits related to tax losses (6,470) — Origination and reversal of temporary differences (356) (3,007) Total deferred tax recovery (6,826) (3,007) Total income tax recovery (6,257) (3,027) |
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 statutory tax rate as follows: Year ended March 31, 2023 2022 % $ % $ Loss before income taxes (36,354) (18,575) Company's statutory tax rate 26.5 (9,634) 26.5 (4,922) Non-deductible share-based compensation expense (3.1) 1,112 (3.6) 663 Other non-deductible and tax exempt items (8.8) 3,198 1.3 (238) Change in unrecognized deferred tax assets 0.7 (247) (7.2) 1,340 Other 1.9 (686) (0.7) 130 Effective income tax rate 17.2 (6,257) 16.3 (3,027) |
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, 2023 2022 $ $ Deferred tax liabilities (8,632) (9,962) Deferred tax assets 5,997 7,247 (2,635) (2,715) 11. INCOME TAXES (CONT’D) Movements in temporary differences during the year were as follows: As at March 31, 2023 Opening Recognized Recognized in equity Business acquisition Foreign currency translation adjustment Total $ $ $ $ $ $ Losses available for carryforward and other tax deductions 17,268 972 — — — 18,240 Deferred financing costs 576 (102) 10 — — 484 Total deferred tax assets 17,844 870 10 — — 18,724 Intangibles and goodwill (15,439) 6,055 — (6,519) (237) (16,140) Tax credits and other (5,120) (99) — — — (5,219) Total deferred tax liability (20,559) 5,956 — (6,519) (237) (21,359) Net carrying amount (2,715) 6,826 10 (6,519) (237) (2,635) As at March 31, 2022 Opening Recognized Recognized in equity Business acquisition Foreign currency translation adjustment Total $ $ $ $ $ $ Losses available for carryforward and other tax deductions 13,116 2,804 — 1,348 — 17,268 Deferred financing costs 558 (110) 113 15 — 576 Total deferred tax assets 13,674 2,694 113 1,363 — 17,844 Intangibles and goodwill (6,129) 2,373 — (11,683) — (15,439) Tax credits and other (3,060) (2,060) — — — (5,120) Total deferred tax liability (9,189) 313 — (11,683) — (20,559) Net carrying amount 4,485 3,007 113 (10,320) — (2,715) During the year ended March 31, 2023, the Group recognized a deferred tax asset in the amount of $6,470,000 that was probable of being realized as a result of the deferred tax liability recognized pursuant to the Datum Acquisition (note 3). The recognized deferred tax asset relates to previous years' net operating losses of the Group in the U.S. available for carryforwards as at July 1, 2022 in the amount of approximately $24,359,000 that was previously not recognized. |
Summary of Movements in Temporary Differences | Movements in temporary differences during the year were as follows: As at March 31, 2023 Opening Recognized Recognized in equity Business acquisition Foreign currency translation adjustment Total $ $ $ $ $ $ Losses available for carryforward and other tax deductions 17,268 972 — — — 18,240 Deferred financing costs 576 (102) 10 — — 484 Total deferred tax assets 17,844 870 10 — — 18,724 Intangibles and goodwill (15,439) 6,055 — (6,519) (237) (16,140) Tax credits and other (5,120) (99) — — — (5,219) Total deferred tax liability (20,559) 5,956 — (6,519) (237) (21,359) Net carrying amount (2,715) 6,826 10 (6,519) (237) (2,635) As at March 31, 2022 Opening Recognized Recognized in equity Business acquisition Foreign currency translation adjustment Total $ $ $ $ $ $ Losses available for carryforward and other tax deductions 13,116 2,804 — 1,348 — 17,268 Deferred financing costs 558 (110) 113 15 — 576 Total deferred tax assets 13,674 2,694 113 1,363 — 17,844 Intangibles and goodwill (6,129) 2,373 — (11,683) — (15,439) Tax credits and other (3,060) (2,060) — — — (5,120) Total deferred tax liability (9,189) 313 — (11,683) — (20,559) Net carrying amount 4,485 3,007 113 (10,320) — (2,715) During the year ended March 31, 2023, the Group recognized a deferred tax asset in the amount of $6,470,000 that was probable of being realized as a result of the deferred tax liability recognized pursuant to the Datum Acquisition (note 3). The recognized deferred tax asset relates to previous years' net operating losses of the Group in the U.S. available for carryforwards as at July 1, 2022 in the amount of approximately $24,359,000 that was previously not recognized. 11. INCOME TAXES (CONT’D) Losses available for carryforward for which no deferred tax asset was recognized Expiry date Canada $ 2039 922 2040 390 2041 2,075 2042 3,516 2043 5,471 12,374 Losses available for carryforward for which no deferred tax asset was recognized Expiry date (a) USA $ 2037 13,328 Indefinite 16,387 29,715 (a) Net operating losses amounting to $20,292,000 of which $13,328,000 will expire in 2037, 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 $53,274,000 (with expiry dates ranging from 2024 to 2043) and ii) net deductible temporary differences totaling approximately $20,834,000 for which no deferred tax benefit has been recognized. |
Share Capital and Dividends (Ta
Share Capital and Dividends (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of classes of share capital [abstract] | |
Summary of Issued Share Capital | As at March 31, 2023, the issued share capital of the Company is as follows: Subordinate Voting Shares Multiple Voting Shares Number of shares $ Number of shares $ Beginning balance 85,554,000 300,901 7,171,616 4,321 Shares issued pursuant to vesting of share-based compensation granted on business acquisitions 738,382 1,708 — — Shares issued in consideration of the acquisition of Datum (note 3) 1,867,262 5,528 — — Shares issued in consideration of the acquisition of Trafic 3W inc. (note 3) 83,449 276 — — Shares purchased for cancellation (371,525) (1,303) — — Exercise of stock options — — 152,632 536 Ending balance 87,871,568 307,110 7,324,248 4,857 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 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 85,554,000 300,901 7,171,616 4,321 |
Summary of Option Activity | The following tables present information concerning outstanding stock options issued by currency: Year ended March 31, 2023 March 31, 2022 Number of stock options Weighted average exercise price (CAD) Number of stock options Weighted average exercise price (CAD) $ $ Beginning balance 3,079,598 3.19 2,607,528 3.10 Granted 626,230 3.25 774,202 3.23 Forfeited (67,500) 3.60 (148,000) 3.20 Expired (85,000) 3.65 — — Exercised (152,632) 2.27 (154,132) (1.92) Ending balance 3,400,696 3.23 3,079,598 3.19 Exercisable at year end 1,464,014 3.42 1,289,896 3.22 Year ended March 31, 2023 March 31, 2022 Number of stock options Weighted average exercise price (USD) Number of stock options Weighted average exercise price (USD) $ $ Beginning balance 1,004,484 2.63 917,653 3.08 Granted 265,125 2.50 299,100 2.66 Forfeited (94,475) 2.91 (44,167) 3.80 Expired (90,959) 2.92 (166,852) 4.84 Exercised — — (1,250) 1.67 Ending balance 1,084,175 2.55 1,004,484 2.63 Exercisable at year end 284,400 2.81 237,909 3.00 |
Summary of Weighted Average Assumptions Used for Valuation of Share Options Granted | The assumptions used to determine the 2023 and 2022 stock options grant date fair values using the Black-Scholes stock option pricing model were as follows: Year ended March 31, 2023 2022 Weighted average assumptions Share price $3.25 $3.23 Exercise price $3.25 $3.23 Risk-free interest rate 3.50 % 1.25 % Expected volatility (a) 35.0 % 34.7 % Dividend yield — — Expected option life (years) 6.6 6.6 Vesting conditions – time (years) 3.3 3.2 (a) Determined on the basis of observed volatility in publicly traded companies operating in similar industries. |
Summary of DSU Activity | The following table presents information concerning the outstanding number of DSUs for the respective years: Year ended March 31, 2023 2022 Beginning balance 439,521 330,246 Granted to non-employee directors 227,453 173,149 Settled — (63,874) Ending balance 666,974 439,521 |
Summary of Share based Compensation | The following table presents information concerning the outstanding number of PSUs for the respective years: Year ended March 31, 2023 2022 Beginning balance 332,263 — Granted 528,120 332,263 Forfeited (5,000) — Ending balance 855,383 332,263 Total share-based compensation expense for the years ended March 31, 2023 and 2022 is summarized as follows: Year ended March 31, 2023 2022 $ $ Stock options 1,262 851 Share purchase plan – employer contribution 1,372 1,138 Share-based compensation granted on business acquisitions 2,995 1,524 DSUs 1,250 576 RSUs — 92 PSUs 1,233 273 8,112 4,454 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Summary of Option Activity | The following tables present information concerning outstanding stock options issued by currency: Year ended March 31, 2023 March 31, 2022 Number of stock options Weighted average exercise price (CAD) Number of stock options Weighted average exercise price (CAD) $ $ Beginning balance 3,079,598 3.19 2,607,528 3.10 Granted 626,230 3.25 774,202 3.23 Forfeited (67,500) 3.60 (148,000) 3.20 Expired (85,000) 3.65 — — Exercised (152,632) 2.27 (154,132) (1.92) Ending balance 3,400,696 3.23 3,079,598 3.19 Exercisable at year end 1,464,014 3.42 1,289,896 3.22 Year ended March 31, 2023 March 31, 2022 Number of stock options Weighted average exercise price (USD) Number of stock options Weighted average exercise price (USD) $ $ Beginning balance 1,004,484 2.63 917,653 3.08 Granted 265,125 2.50 299,100 2.66 Forfeited (94,475) 2.91 (44,167) 3.80 Expired (90,959) 2.92 (166,852) 4.84 Exercised — — (1,250) 1.67 Ending balance 1,084,175 2.55 1,004,484 2.63 Exercisable at year end 284,400 2.81 237,909 3.00 |
Summary of Weighted Average Assumptions Used for Valuation of Share Options Granted | The assumptions used to determine the 2023 and 2022 stock options grant date fair values using the Black-Scholes stock option pricing model were as follows: Year ended March 31, 2023 2022 Weighted average assumptions Share price $3.25 $3.23 Exercise price $3.25 $3.23 Risk-free interest rate 3.50 % 1.25 % Expected volatility (a) 35.0 % 34.7 % Dividend yield — — Expected option life (years) 6.6 6.6 Vesting conditions – time (years) 3.3 3.2 (a) Determined on the basis of observed volatility in publicly traded companies operating in similar industries. |
Disclosure of number and weighted average remaining contractual life of outstanding share options [text block] | 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, 2023 March 31, 2022 Exercise price range (CAD) Number of stock options Weighted average remaining exercise period – in years Number of stock options Weighted average remaining exercise period – in years $ 1.90 to 2.55 735,264 5.44 892,896 5.52 2.56 to 2.96 295,000 2.63 298,500 3.64 2.97 to 3.30 1,366,432 8.15 760,202 8.26 3.31 to 3.95 564,000 5.48 673,000 5.71 3.96 to 4.55 440,000 5.59 455,000 6.59 3,400,696 6.31 3,079,598 6.21 As at March 31, 2023 March 31, 2022 Exercise price range (USD) Number of stock options Weighted average Number of stock options Weighted average $ 1.67 to 2.25 175,000 7.23 180,000 8.23 2.26 to 2.75 665,425 8.20 513,525 7.22 2.76 to 3.85 243,750 5.96 305,000 6.94 3.86 to 5.45 — — 5,959 0.81 1,084,175 7.54 1,004,484 7.28 |
Summary of DSU Activity | The following table presents information concerning the outstanding number of DSUs for the respective years: Year ended March 31, 2023 2022 Beginning balance 439,521 330,246 Granted to non-employee directors 227,453 173,149 Settled — (63,874) Ending balance 666,974 439,521 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 Technology licenses, infrastructure and other Total 2024 9,176 2025 3,299 2026 1,355 2027 1,367 Thereafter 4,119 19,316 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 2022 $ $ Director compensation, and key management salaries and benefits ( a) 4,101 4,312 Share-based compensation 3,081 1,325 Termination benefits — 317 7,182 5,954 ( a) Salaries and benefits include short-term incentive compensation. |
Earnings Per Share (Table)
Earnings Per Share (Table) | 12 Months Ended |
Mar. 31, 2023 | |
Earnings per share [abstract] | |
Earnings Per Share | Year ended March 31, 2023 2022 $ $ Net loss (30,097) (15,548) Weighted average number of Shares outstanding 94,178,549 85,297,843 Basic and diluted loss per share (0.32) (0.18) |
Reconciliation of Liabilities_2
Reconciliation of Liabilities Arising from Financing Activities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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, 2023 March 31, 2022 Contingent consideration Current Long-term Total Current Long-term Total $ $ $ $ $ $ $ Beginning balance — 19,316 87,360 106,676 35,134 19,817 54,951 Repayment — (20,362) (77,156) (97,518) (42,590) (103,919) (146,509) Proceeds — — 98,682 98,682 — 156,768 156,768 Total cash flow — (20,362) 21,526 1,164 (42,590) 52,849 10,259 Business acquisition (note 3) 9,157 3,684 7,369 20,210 38,584 8,887 47,471 Amortization of finance costs — — 430 430 — 277 277 Interest accretion on balances of purchase payable — 393 391 784 — 823 823 PPP loan forgiveness — — — — — (5,868) (5,868) Impacts of foreign exchange — 1,250 5,833 7,083 (9) (1,228) (1,237) Reclassification other long-term debt — 8,527 (8,527) — (11,803) 11,803 — Total non cash 9,157 13,854 5,496 28,507 26,772 14,694 41,466 Ending balance 9,157 12,808 114,382 136,347 19,316 87,360 106,676 |
Business acquisition, integra_2
Business acquisition, integration and reorganization costs (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Business acquisition, integration and reorganization costs [Abstract] | |
Business acquisition, integration and reorganization costs | Year ended March 31, 2023 2022 $ $ Acquisition costs (a) 1,554 3,964 Integration costs (b) 2,189 6,808 Reorganization costs related to modifications to cost structure (c) 4,582 845 Employee compensation on business acquisition (note 3) (d) 597 — Contingent consideration (note 3) 9,157 — 18,079 11,617 |
Net Financial Expenses (Tables)
Net Financial Expenses (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Financial Expense [Abstract] | |
Summary of Financial Expenses | The following table summarizes net financial expenses: Year ended March 31, 2023 2022 $ $ Interest on long-term debt 7,087 2,402 Interest and financing charges 558 432 Interest on lease liabilities 825 725 Amortization of finance costs 430 277 Interest accretion on balances of purchase payable 784 823 Interest income (349) (80) 9,335 4,579 |
Supplementary Cash Flow Infor_2
Supplementary Cash Flow Information (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Supplementary Cash Flow Information [Abstract] | |
Summary of Net Change In Non-Cash Working Capital Items | Changes in non-cash working capital items are as follows : As at March 31, 2023 2022 $ $ Accounts receivable and other receivables 15,750 (15,894) Income taxes receivable — 628 Other assets 103 — Unbilled revenues (4,482) 865 Tax credits receivable (1,606) (5,688) Prepaids (940) (765) Accounts payable and accrued liabilities (6,159) 17,651 Deferred revenues (366) 2,083 2,300 (1,120) |
Segment and Geographical Info_2
Segment and Geographical Information - (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Disclosure of profit (loss) from operating activities | The following tables present the Group's operations based on reportable segments: Year ended March 31, 2023 Canada U.S. International Total $ $ $ $ Revenues 312,349 189,883 20,469 522,701 Operating income by segment 35,964 26,736 2,953 65,653 Head office general and administrative expenses 40,401 Business acquisition, integration and reorganization costs 18,079 Foreign exchange loss (gain) 159 Operating income before depreciation and amortization 7,014 Depreciation and amortization 34,033 Operating loss (27,019) Year ended March 31, 2022 Canada U.S. International Total $ $ $ $ Revenues 284,614 139,519 13,752 437,885 Operating income by segment 25,420 18,996 1,253 45,669 Head office general and administrative expenses 28,354 Business acquisition, integration and reorganization costs 11,617 Foreign exchange loss (gain) (26) Operating income before depreciation and amortization 5,724 Depreciation and amortization 19,720 Operating loss (13,996) |
Summary of External Revenues and Long-lived Assets by Geographic Location | 22. 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, 2023 2022 $ % $ % Canada 138,450 47.9 154,251 56.4 U.S. 148,316 51.4 118,023 43.1 International 2,039 0.7 1,299 0.5 288,805 100.0 273,573 100.0 |
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, 2023 Canada U.S. International Total $ $ $ $ Consulting services - time and materials arrangements 264,542 115,145 18,263 397,950 Consulting services - fixed-fee arrangements 34,062 25,834 2,201 62,097 Subscription, software and other revenues 13,745 48,904 5 62,654 312,349 189,883 20,469 522,701 Year ended March 31, 2022 Canada U.S. International Total $ $ $ $ Consulting services - time and materials arrangements 240,043 105,722 13,343 359,108 Consulting services - fixed-fee arrangements 34,802 14,098 409 49,309 Subscription, software and other revenues 9,769 19,699 — 29,468 284,614 139,519 13,752 437,885 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Schedule of Interest Rate Risk Profile of Borrowings | The Group's financial instruments bearing interest at variable rates are as follows: As at March 31, 2023 2022 $ $ Credit Facility (note 10) 82,512 66,631 Secured loans (note 10) 13,192 8,596 Other long-term debt — 120 95,704 75,347 |
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, 2023 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Trade payable 53,145 53,145 53,145 — — — Contingent consideration 9,157 9,565 — 8,826 739 — Credit Facility 82,512 88,436 5,924 82,512 — — Secured loans 13,192 14,226 9,398 4,828 — — Subordinated unsecured loans 20,000 23,275 1,310 1,310 20,655 — Balance of purchase price payable 11,993 12,642 4,214 4,214 4,214 — Lease liabilities 18,516 20,499 4,545 5,219 7,197 3,538 208,515 221,788 78,536 106,909 32,805 3,538 As at March 31, 2022 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Trade payable 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 price payable 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 |
Disclosure of credit risk | The following table provides information about the exposure to credit risk for trade accounts receivable: As at March 31, 2023 2022 $ $ Current 65,682 70,039 0-30 days 19,544 21,600 31-60 days 1,690 3,072 61-90 days 852 1,071 Over 90 days 2,239 2,507 90,007 98,289 |
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, 2023 2022 $ $ Cash 3,662 1,428 Accounts receivable and other receivables 325 34 Accounts payable and accrued liabilities (1,449) (1,599) Contingent consideration (2,120) — Credit Facility (759) — Balance of purchase price payable (2,525) — Net statement of financial position exposure (2,866) (137) |
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, 2023 USD 13% Movement (278) 278 As at March 31, 2022 USD 7% Movement (26) 26 |
Financing Liabilities, Carrying Amount | The following table summarizes their carrying amount. As at March 31, 2023 2022 $ $ Credit Facility (a) 82,512 66,631 Secured loans (a) 13,192 8,596 Subordinated unsecured loans (b) 20,000 17,500 Balances of purchase price payable (c) 11,993 13,026 127,697 105,753 (a) The fair values of the Credit Facility and secured loans, bearing interest at variable rates, approximate their respective carrying amounts because the interest rates applied approximate current market interest rate. (b) As at March 31, 2023, the fair value of the subordinated unsecured loans, bearing interest at fixed rates, was approximately $19,038,000 (March 31, 2022 - $16,982,000). (c) As at March 31, 2023, the fair value of the balance of purchase price payable approximate its carrying amounts given the recent fair market value assessment at the time of acquisition. As at March 31, 2022, the fair value of the balances of purchase price payable approximate their carrying amounts given the short-term maturity of the balances of purchase price payable. |
Capital Disclosures (Tables)
Capital Disclosures (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure Of Capital Disclosures [Abstract] | |
Summary of Total Capital | Total capital as at March 31, 2023 and 2022 is calculated as follows: As at March 31, 2023 2022 $ $ Cash (22,583) (17,655) Restricted cash — (3,254) Current portion of long-term debt 12,808 19,316 Contingent consideration 9,157 — Long-term debt 114,382 87,360 Share capital 311,967 305,222 Deficit (141,481) (111,654) Accumulated other comprehensive income (loss) 4,610 (947) Contributed surplus 11,972 7,130 300,832 285,518 |
Governing Statutes And Nature o
Governing Statutes And Nature of Operations - Additional Information (Details) | 12 Months Ended |
Mar. 31, 2023 | |
Governing Statutes And Nature Of Operations [Abstract] | |
Description of nature of entity's operations and principal activities | GOVERNING STATUTES AND NATURE OF OPERATIONS Alithya 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 strategy, application solutions services, enterprise solutions, 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, healthcare, government, renewable energy, manufacturing, telecommunications, transportation and logistics, and professional services 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 Significant Accounting Policies (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of changes in accounting estimates [line items] | ||
Cash flows from (used in) operating activities | $ 28,882 | $ 1,850 |
Cash flows from (used in) financing activities | $ (11,326) | 27,917 |
Previously Reported | ||
Disclosure of changes in accounting estimates [line items] | ||
Cash flows from (used in) operating activities | (1,629) | |
Cash flows from (used in) financing activities | 31,396 | |
Revision of Prior Period, Adjustment | ||
Disclosure of changes in accounting estimates [line items] | ||
Cash flows from (used in) operating activities | 3,479 | |
Cash flows from (used in) financing activities | $ (3,479) |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Primary Subsidiaries (Details) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Alithya Canada Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Canada Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100% | 100% |
Alithya Consulting Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Consulting Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100% | 100% |
9466-6997 Québec Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | 9466-6997 Québec Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100% | 0% |
Alithya Digital Technology Corporation | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Digital Technology Corporation | |
Name of subsidiary Jurisdiction | Ontario, Canada | |
Percentage Ownership | 100% | 100% |
Alithya USA, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya USA, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100% | 100% |
Alithya Financial Solutions, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Financial Solutions, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100% | 100% |
Alithya Ranzal LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Ranzal LLC | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100% | 100% |
Alithya Zero2Ten, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Zero2Ten, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100% | 100% |
Alithya Fullscope Solutions, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Fullscope Solutions, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100% | 100% |
Vitalyst, LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Numérique Maroc SARLAU | |
Name of subsidiary Jurisdiction | Morocco | |
Percentage Ownership | 100% | 100% |
Datum Consulting Group, LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Datum Consulting Group, LLC | |
Name of subsidiary Jurisdiction | Indiana, USA | |
Percentage Ownership | 100% | 0% |
Alithya France SAS | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya France SAS | |
Name of subsidiary Jurisdiction | France | |
Percentage Ownership | 100% | 100% |
DCG Team UK Limited | ||
Disclosure of subsidiaries [line items] | ||
Entity | DCG Team UK Limited | |
Name of subsidiary Jurisdiction | United Kingdom | |
Percentage Ownership | 100% | 0% |
Datum Consulting Group Australia Pty Limited | ||
Disclosure of subsidiaries [line items] | ||
Entity | Datum Consulting Group Australia Pty Limited | |
Name of subsidiary Jurisdiction | Australia | |
Percentage Ownership | 100% | 0% |
Datum Cybertech India Pvt Ltd. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Datum Cybertech India Pvt Ltd. | |
Name of subsidiary Jurisdiction | India | |
Percentage Ownership | 100% | 0% |
Vitalyst, LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Vitalyst, LLC | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100% | 100% |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Depreciation Method of Property and Equipment (Details) | 12 Months Ended |
Mar. 31, 2023 | |
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% |
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% |
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_7
Summary of Significant Accounting Policies - Summary of Amortization Method of Intangible Assets (Details) | 12 Months Ended |
Mar. 31, 2023 | |
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 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Additional Information (Details) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Maximum Eligible Per Employee, Annual Bonus in DSUs And Or RSUs | 50% |
Percentage Of DSUs or RSUs Granted From the Company Of The Bonus in DSUs or RSUs | 25% |
Share Based Expenses, Percentage of Fair Value Bonus DSUs/RSUs | 125% |
Business combinations - Datum (
Business combinations - Datum (Details) $ in Thousands, $ in Thousands | 12 Months Ended | ||||||||
Mar. 31, 2023 CAD ($) | Jul. 01, 2022 CAD ($) shares | Jul. 01, 2022 USD ($) shares | Mar. 31, 2023 CAD ($) shares | Mar. 31, 2023 USD ($) shares | Mar. 31, 2022 CAD ($) | Jul. 01, 2022 USD ($) | Jun. 01, 2022 CAD ($) | Jun. 01, 2022 USD ($) | |
Disclosure of detailed information about business combination [line items] | |||||||||
Contingent consideration recognised as of acquisition date | $ 9,157 | $ 9,157 | $ 0 | ||||||
Share-based compensation | 3,745 | 1,792 | |||||||
Business acquisition, integration and reorganization costs | 18,079 | 11,617 | |||||||
Revenues | 522,701 | 437,885 | |||||||
Loss before income taxes | (36,354) | $ (18,575) | |||||||
Datum Consulting Group, LLC | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Consideration paid | $ 58,550 | $ 45,488 | |||||||
Cash consideration for acquisition | 17,430 | ||||||||
Issuance of shares | $ 5,552 | ||||||||
Contingent consideration recognised as of acquisition date | 9,157 | 9,157 | |||||||
Subordinate Voting Shares Available For Issuance, Business Combination | shares | 1,517,151 | 1,517,151 | |||||||
Subordinate Voting Shares Available For Issuance, Value, Business Combination | $ 4,511 | $ 3,505 | |||||||
Share-based compensation | 2,644 | ||||||||
Business acquisition, integration and reorganization costs | 1,369 | ||||||||
Increase (decrease) in intangible assets other than goodwill | (1,545) | ||||||||
Increase (decrease) in goodwill | 1,134 | ||||||||
Increase (decrease) in deferred tax liability (asset) | (411) | ||||||||
Revenue from business acquired | 16,326 | ||||||||
Profit (loss) from business acquired | (15,762) | ||||||||
Amortisation expense | 5,658 | ||||||||
Acquisition related costs | 2,099 | ||||||||
Increase (decrease) in deferred tax liability (asset) | $ 411 | ||||||||
Contingent consideration, payable in shares, percentage | 25% | 25% | |||||||
Contingent consideration, payable in cash, percentage | 75% | 75% | |||||||
Datum Consulting Group, LLC | Pro Forma | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Revenues | 526,492 | ||||||||
Loss before income taxes | $ (38,991) | ||||||||
Datum Consulting Group, LLC | 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) | shares | 5,551,961 | 5,551,961 | |||||||
Equity interest issued or issuable | $ 5,552 | ||||||||
Datum Consulting Group, LLC | Subordinate Voting Shares | Share Capital | |||||||||
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) | shares | 1,867,262 | 1,867,262 | |||||||
Datum Consulting Group, LLC | Purchase Consideration | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Consideration paid | $ 35,010 | $ 27,200 | |||||||
Cash consideration for acquisition | 17,430 | $ 13,542 | |||||||
Issuance of shares | 5,552 | 4,313 | |||||||
Deferred cash consideration | 12,028 | 9,345 | |||||||
Datum Consulting Group, LLC | Other Deferred Consideration | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Consideration paid | 23,540 | $ 18,288 | |||||||
Cash consideration for acquisition | $ 1,255 | $ 975 | |||||||
Contingent consideration recognised as of acquisition date | $ 16,733 | $ 13,000 | |||||||
Datum Consulting Group, LLC | Other Deferred Consideration | Subordinate Voting Shares | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Equity interest issued or issuable | $ 5,552 | $ 4,313 | |||||||
Datum Consulting Group, LLC | Other Deferred Consideration | Subordinate Voting Shares | Share Capital | |||||||||
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) | shares | 1,867,261 | 1,867,261 |
Business combinations - Trafic
Business combinations - Trafic 3W Inc (Details) - Trafic 3W inc $ in Thousands, $ in Thousands | Oct. 31, 2022 USD ($) shares | Apr. 01, 2022 USD ($) | Apr. 01, 2022 CAD ($) |
Disclosure of detailed information about business combination [line items] | |||
Consideration paid | $ 2,005 | ||
Cash consideration for acquisition | $ 824 | $ 900 | |
Consideration transferred, acquisition-date fair value | $ 1,919 | ||
Cash and cash equivalents recognised as of acquisition date | (86) | ||
Cash Transferred Less Cash And Cash Equivalents Recognised As Of Acquisition Date | 814 | ||
Identifiable intangible assets recognised as of acquisition date | 455 | ||
Goodwill recognised as of acquisition date | 1,270 | ||
Balance of purchase payable (note 10) | $ 1,105 | ||
Subordinate Voting Shares | |||
Disclosure of detailed information about business combination [line items] | |||
Equity interest issued or issuable | $ 281 | ||
Subordinate Voting Shares | Share Capital | |||
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) | shares | 83,449 |
Business Combinations - Alithya
Business Combinations - Alithya IT Services Inc. (Details) - CAD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Apr. 01, 2021 | Dec. 31, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about business combination [line items] | ||||
Business acquisition, integration and reorganization costs | $ 18,079 | $ 11,617 | ||
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 Liabilities, Long-term Debt Recognized as of Acquisition Date | $ 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 | Jul. 01, 2022 | Jan. 31, 2022 | Apr. 01, 2021 |
Alithya IT Services Inc. | |||
Disclosure of detailed information about business combination [line items] | |||
Cash and cash equivalents recognised as of acquisition date | $ 577 | ||
Fair value of acquired receivables | 9,985 | ||
Unbilled Revenue Recognised As Of Acquisition Date | 7,169 | ||
Prepaid Recognised As Of Acquisition Date | 91 | ||
Current assets | 17,822 | ||
Tax Credits Receivable, Noncurrent, Recognized as of Acquisition Date | 2,053 | ||
Property, plant and equipment recognised as of acquisition date | 2,207 | ||
Right-of-Use Asset Recognized as of Acquisition Date | 2,982 | ||
Identifiable intangible assets recognised as of acquisition date | 52,777 | ||
Deferred tax assets recognised as of acquisition date | 763 | ||
Goodwill recognised as of acquisition date | 42,491 | ||
Assets Acquired Recognised As Of Acquisition Date | 121,095 | ||
Trade and other payables recognised as of acquisition date | 15,069 | ||
Income Taxes Payables Recognized as of Acquisition Date | 155 | ||
Deferred Revenue Recognised As Of Acquisition Date | 125 | ||
Current Portion of Lease Liabilities Recognized as of Acquisition Date | 592 | ||
Current Liabilities, Long-term Debt Recognized as of Acquisition Date | 8,887 | ||
Current liabilities | 24,828 | ||
Noncurrent Portion of Lease Liabilities Recognized as of Acquisition Date | 3,620 | ||
Deferred tax liabilities recognised as of acquisition date | 11,084 | ||
Liabilities Assumed As Of Acquisition Date | 39,532 | ||
Identifiable assets acquired (liabilities assumed) | $ 81,563 | ||
Datum Consulting Group, LLC | |||
Disclosure of detailed information about business combination [line items] | |||
Cash and cash equivalents recognised as of acquisition date | $ 2,798 | ||
Fair value of acquired receivables | 3,552 | ||
Unbilled Revenue Recognised As Of Acquisition Date | 1,301 | ||
Prepaid Recognised As Of Acquisition Date | 159 | ||
Current assets | 7,810 | ||
Other assets recognized as of acquisition date | 2 | ||
Property, plant and equipment recognised as of acquisition date | 55 | ||
Right-of-Use Asset Recognized as of Acquisition Date | 135 | ||
Identifiable intangible assets recognised as of acquisition date | 24,070 | ||
Goodwill recognised as of acquisition date | 13,696 | ||
Assets Acquired Recognised As Of Acquisition Date | 45,768 | ||
Trade and other payables recognised as of acquisition date | 4,255 | ||
Deferred Revenue Recognised As Of Acquisition Date | 945 | ||
Current Portion of Lease Liabilities Recognized as of Acquisition Date | 71 | ||
Current liabilities | 5,271 | ||
Noncurrent Portion of Lease Liabilities Recognized as of Acquisition Date | 64 | ||
Deferred tax liabilities recognised as of acquisition date | 6,398 | ||
Liabilities Assumed As Of Acquisition Date | 11,733 | ||
Identifiable assets acquired (liabilities assumed) | $ 34,035 | ||
Vitalyst, LLC | |||
Disclosure of detailed information about business combination [line items] | |||
Cash and cash equivalents recognised as of acquisition date | $ 1,116 | ||
Fair value of acquired receivables | 6,301 | ||
Unbilled Revenue Recognised As Of Acquisition Date | 1,101 | ||
Prepaid Recognised As Of Acquisition Date | 1,403 | ||
Current assets | 9,921 | ||
Other assets recognized as of acquisition date | 157 | ||
Property, plant and equipment recognised as of acquisition date | 583 | ||
Right-of-Use Asset Recognized as of Acquisition Date | 3,975 | ||
Identifiable intangible assets recognised as of acquisition date | 26,323 | ||
Goodwill recognised as of acquisition date | 31,498 | ||
Assets Acquired Recognised As Of Acquisition Date | 72,457 | ||
Trade and other payables recognised as of acquisition date | 5,237 | ||
Deferred Revenue Recognised As Of Acquisition Date | 7,936 | ||
Current Portion of Lease Liabilities Recognized as of Acquisition Date | 1,007 | ||
Current Liabilities, Long-term Debt Recognized as of Acquisition Date | 38,584 | ||
Current liabilities | 52,764 | ||
Noncurrent Portion of Lease Liabilities Recognized as of Acquisition Date | 3,273 | ||
Liabilities Assumed As Of Acquisition Date | 56,037 | ||
Identifiable assets acquired (liabilities assumed) | $ 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 | 12 Months Ended | ||||||||
Jul. 01, 2022 USD ($) shares | Apr. 01, 2021 CAD ($) shares | Mar. 31, 2023 CAD ($) shares | Jul. 01, 2022 CAD ($) | Jun. 01, 2022 USD ($) | Jun. 01, 2022 CAD ($) | Mar. 31, 2022 CAD ($) | Jan. 31, 2022 USD ($) | Jan. 31, 2022 CAD ($) | |
Disclosure of detailed information about business combination [line items] | |||||||||
Contingent consideration recognised as of acquisition date | $ 9,157 | $ 0 | |||||||
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 | ||||||||
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) | shares | 25,182,676 | ||||||||
Vitalyst, LLC | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Cash paid | $ 12,933 | $ 16,420 | |||||||
Total consideration transferred | $ 16,420 | ||||||||
Datum Consulting Group, LLC | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Cash paid | $ 17,430 | ||||||||
Contingent consideration recognised as of acquisition date | $ 9,157 | ||||||||
Issuance of shares | 5,552 | ||||||||
Total consideration transferred | 34,035 | ||||||||
Balance of purchase payable (note 10) | 11,053 | ||||||||
Datum Consulting Group, LLC | Other Deferred Consideration | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Cash paid | $ 975 | $ 1,255 | |||||||
Contingent consideration recognised as of acquisition date | $ 13,000 | $ 16,733 | |||||||
Datum Consulting Group, LLC | 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) | shares | 5,551,961 | ||||||||
Datum Consulting Group, LLC | Subordinate Voting Shares | Share Capital | |||||||||
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) | shares | 1,867,262 | ||||||||
Datum Consulting Group, LLC | Subordinate Voting Shares | Other Deferred Consideration | Share Capital | |||||||||
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) | shares | 1,867,261 |
Business Combinations - Vitalys
Business Combinations - Vitalyst LLC (Details) $ in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended | |||||
Jan. 31, 2022 CAD ($) | Jan. 31, 2022 USD ($) | Dec. 31, 2021 CAD ($) | Mar. 31, 2023 CAD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 CAD ($) | Jan. 31, 2022 USD ($) | |
Disclosure of detailed information about business combination [line items] | |||||||
Revenues | $ 522,701 | $ 437,885 | |||||
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 | $ (13,457) | 1,219 | |||||
Amortisation expense | $ 569 | ||||||
Revenues | $ 464,327 | ||||||
Increase (decrease) in working capital | 1,049 | $ 830 | |||||
Increase (decrease) in goodwill | $ 1,049 |
Accounts Receivable And Other_3
Accounts Receivable And Other Receivables - Summary of Accounts Receivable and Other Receivable (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | ||
Trade accounts receivable, net | $ 90,007 | $ 98,289 |
Other receivables | 2,446 | 2,578 |
Trade and other current receivables | $ 92,453 | $ 100,867 |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | $ 10,412 | |
Depreciation, property, plant and equipment | 2,807 | $ 2,568 |
Disposals / retirements | (1,096) | 0 |
Ending cost | 8,724 | 10,412 |
Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 15,293 | 10,776 |
Additions | 1,736 | 1,719 |
Additions through business acquisitions (note 3) | 55 | 2,790 |
Disposals / retirements | (1,096) | 0 |
Foreign currency translation adjustment | 610 | 8 |
Ending cost | 16,598 | 15,293 |
Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | (4,881) | (2,327) |
Depreciation, property, plant and equipment | 2,807 | 2,568 |
Impairment loss recognised in profit or loss, property, plant and equipment | 774 | 0 |
Foreign currency translation adjustment | 508 | (14) |
Ending cost | (7,874) | (4,881) |
Furniture, fixtures and equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 1,426 | |
Disposals / retirements | (325) | 0 |
Ending cost | 1,074 | 1,426 |
Furniture, fixtures and equipment | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 1,874 | 1,738 |
Additions | 89 | 56 |
Additions through business acquisitions (note 3) | 0 | 79 |
Disposals / retirements | (325) | 0 |
Foreign currency translation adjustment | 87 | 1 |
Ending cost | 1,725 | 1,874 |
Furniture, fixtures and equipment | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | (448) | (111) |
Depreciation, property, plant and equipment | 280 | 337 |
Impairment loss recognised in profit or loss, property, plant and equipment | 164 | 0 |
Foreign currency translation adjustment | 84 | 0 |
Ending cost | (651) | (448) |
Computer equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 2,842 | |
Disposals / retirements | (13) | 0 |
Ending cost | 2,963 | 2,842 |
Computer equipment | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 4,925 | 2,889 |
Additions | 1,321 | 1,444 |
Additions through business acquisitions (note 3) | 55 | 591 |
Disposals / retirements | (13) | 0 |
Foreign currency translation adjustment | 504 | 1 |
Ending cost | 6,792 | 4,925 |
Computer equipment | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | (2,083) | (1,100) |
Depreciation, property, plant and equipment | 1,344 | 996 |
Impairment loss recognised in profit or loss, property, plant and equipment | 5 | 0 |
Foreign currency translation adjustment | 410 | (13) |
Ending cost | (3,829) | (2,083) |
Leasehold improvements | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 6,144 | |
Disposals / retirements | (758) | 0 |
Ending cost | 4,687 | 6,144 |
Leasehold improvements | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | 8,494 | 6,149 |
Additions | 326 | 219 |
Additions through business acquisitions (note 3) | 0 | 2,120 |
Disposals / retirements | (758) | 0 |
Foreign currency translation adjustment | 19 | 6 |
Ending cost | 8,081 | 8,494 |
Leasehold improvements | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening cost | (2,350) | (1,116) |
Depreciation, property, plant and equipment | 1,183 | 1,235 |
Impairment loss recognised in profit or loss, property, plant and equipment | 605 | 0 |
Foreign currency translation adjustment | 14 | (1) |
Ending cost | $ (3,394) | $ (2,350) |
Leases - Right-of-use Assets (D
Leases - Right-of-use Assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Leases [Abstract] | ||
Beginning balance | $ 15,146 | $ 11,118 |
Additions | 428 | 7,117 |
Depreciation | (3,729) | (2,867) |
Impairment | (2,923) | 0 |
Reassessments | 0 | (161) |
Exchange rate effect | 431 | (61) |
Net carrying amount | 9,353 | 15,146 |
Lease receivables | $ 849 | |
Right of Use, Real Estate, Integration Cost | ||
Leases [Abstract] | ||
Impairment | 939 | |
Right of Use, Real Estate, Selling, General And Administrative Expenses | ||
Leases [Abstract] | ||
Impairment | $ 1,984 |
Leases - Lease Liabilities (Det
Leases - Lease Liabilities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Leases [Abstract] | ||
Beginning balance | $ 21,263 | |
Additions | 428 | $ 8,647 |
Lease payments | (4,478) | (3,413) |
Lease interest | 825 | 725 |
Reassessments | 0 | (88) |
Exchange rate effect | 478 | (67) |
Ending balance | 18,516 | 21,263 |
Current portion | 3,873 | 3,510 |
Non-current portion | $ 14,643 | $ 17,753 |
Leases - Contractual Lease Paym
Leases - Contractual Lease Payments (Details) $ in Thousands | Mar. 31, 2023 CAD ($) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | $ 20,499 |
Less than one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 4,545 |
One to two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 5,219 |
Two to five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 7,197 |
Later than five years [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | $ 3,538 |
Leases - Amounts Recognized in
Leases - Amounts Recognized in Net Loss (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Leases [Abstract] | ||
Interest on lease liabilities | $ 825,000 | $ 725,000 |
Common area maintenance | 2,323,000 | 2,766,000 |
Amounts recognized in net loss | 3,148,000 | 3,491,000 |
Total cash outflow for leases | $ 6,801,000 | $ 6,179,000 |
Intangibles - Summary of Intang
Intangibles - Summary of Intangible Assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | $ (104,335) | $ (101,927) | |
Intangible Assets, Net Carrying Amount | 104,335 | 101,927 | |
Disposals / retirements | (454) | (737) | |
Intangible assets other than goodwill, subtotal | 85,259 | 55,914 | |
Amortization of intangibles | 27,497 | 14,285 | |
Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (189,594) | (157,841) | $ (79,085) |
Additions, purchased | 93 | 22 | |
Additions through business acquisitions | 24,525 | 79,100 | |
Additions, internally generated | 756 | 1,339 | |
Disposals / retirements | (454) | (999) | |
Foreign currency translation adjustment | 6,833 | (706) | |
Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Foreign currency translation adjustment | 2,302 | (130) | |
Intangible assets other than goodwill, accumulated amortisation | (55,914) | (42,496) | |
Amortization of intangibles | 27,497 | 14,285 | |
Customer relationships | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 89,073 | 96,008 | |
Disposals / retirements | 0 | 0 | |
Intangible assets other than goodwill, subtotal | 74,135 | 49,958 | |
Customer relationships | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (163,208) | (145,966) | (67,836) |
Additions, purchased | 0 | 0 | |
Additions through business acquisitions | 11,525 | 78,804 | |
Additions, internally generated | 0 | 0 | |
Disposals / retirements | 0 | 0 | |
Foreign currency translation adjustment | 5,717 | (674) | |
Customer relationships | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Foreign currency translation adjustment | 1,994 | (116) | |
Intangible assets other than goodwill, accumulated amortisation | (49,958) | (38,149) | |
Amortization of intangibles | 22,183 | 11,925 | |
Software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 9,533 | 2,248 | |
Disposals / retirements | (454) | (737) | |
Intangible assets other than goodwill, subtotal | 6,279 | 2,741 | |
Software | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (15,812) | (4,989) | (4,338) |
Additions, purchased | 93 | 22 | |
Additions through business acquisitions | 9,782 | 296 | |
Additions, internally generated | 756 | 1,339 | |
Disposals / retirements | (454) | (999) | |
Foreign currency translation adjustment | 646 | (7) | |
Software | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Foreign currency translation adjustment | 149 | (5) | |
Intangible assets other than goodwill, accumulated amortisation | (2,741) | (2,476) | |
Amortization of intangibles | 3,843 | 1,007 | |
Non-competition Agreements | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 2,888 | 3,671 | |
Disposals / retirements | 0 | 0 | |
Intangible assets other than goodwill, subtotal | 4,845 | 3,215 | |
Non-competition Agreements | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (7,733) | (6,886) | (6,911) |
Additions, purchased | 0 | 0 | |
Additions through business acquisitions | 515 | 0 | |
Additions, internally generated | 0 | 0 | |
Disposals / retirements | 0 | 0 | |
Foreign currency translation adjustment | 332 | (25) | |
Non-competition Agreements | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Foreign currency translation adjustment | 159 | (9) | |
Intangible assets other than goodwill, accumulated amortisation | (3,215) | $ (1,871) | |
Amortization of intangibles | 1,471 | 1,353 | |
Tradename | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible Assets, Net Carrying Amount | 2,841 | ||
Disposals / retirements | 0 | ||
Intangible assets other than goodwill, subtotal | 0 | ||
Tradename | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | (2,841) | 0 | |
Additions, purchased | 0 | ||
Additions through business acquisitions | 2,703 | ||
Additions, internally generated | 0 | ||
Disposals / retirements | 0 | ||
Foreign currency translation adjustment | 138 | ||
Tradename | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Foreign currency translation adjustment | 0 | ||
Intangible assets other than goodwill, accumulated amortisation | $ 0 | ||
Amortization of intangibles | $ 0 |
Goodwill - Annual Impairment Te
Goodwill - Annual Impairment Test of Five CGU's (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | $ 146,088 | |
Net carrying amount | 166,393 | $ 146,088 |
Cash Generating Units | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | 146,088 | 72,906 |
Goodwill Allocation | 0 | |
Additional recognition, goodwill | 13,917 | 73,989 |
Increase (decrease) through net exchange differences, goodwill | 6,388 | (807) |
Net carrying amount | 166,393 | 146,088 |
Cash Generating Units | Intelligent Document Processing | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | 0 | 0 |
Goodwill Allocation | 0 | |
Additional recognition, goodwill | 13,696 | 0 |
Increase (decrease) through net exchange differences, goodwill | 697 | 0 |
Net carrying amount | 14,393 | 0 |
Cash Generating Units | CANADA | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | 77,135 | 34,644 |
Goodwill Allocation | 0 | |
Additional recognition, goodwill | 1,270 | 42,491 |
Increase (decrease) through net exchange differences, goodwill | 0 | 0 |
Net carrying amount | 78,405 | 77,135 |
Cash Generating Units | FRANCE | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | 128 | 137 |
Goodwill Allocation | 0 | |
Additional recognition, goodwill | 0 | 0 |
Increase (decrease) through net exchange differences, goodwill | 8 | (9) |
Net carrying amount | 136 | 128 |
Cash Generating Units | US | Enterprise Performance Management [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | 8,852 | 8,915 |
Goodwill Allocation | 0 | |
Additional recognition, goodwill | 0 | 0 |
Increase (decrease) through net exchange differences, goodwill | 740 | (63) |
Net carrying amount | 9,592 | 8,852 |
Cash Generating Units | US | Enterprise Resource Planning [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | 29,005 | 29,210 |
Goodwill Allocation | 29,919 | |
Additional recognition, goodwill | 0 | 0 |
Increase (decrease) through net exchange differences, goodwill | 4,943 | (205) |
Net carrying amount | $ 63,867 | 29,005 |
Goodwill, Incremental Decrease In Adjusted EBITDA Margin | 231% | |
Goodwill, Incremental decrease in Adjusted EBITDA multiple | 2.40% | |
Cash Generating Units | Not Allocated | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill at beginning of period | $ 30,968 | 0 |
Goodwill Allocation | (29,919) | |
Additional recognition, goodwill | (1,049) | 31,498 |
Increase (decrease) through net exchange differences, goodwill | 0 | (530) |
Net carrying amount | $ 0 | $ 30,968 |
Goodwill - Additional Informati
Goodwill - Additional Information (Details) | Mar. 31, 2023 Client |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Number Of Key Assumptions Would Cause An Possible Impairment In the CGU Carrying Value | 2 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used in Impairment Testing by CGU (Details) - Cash Generating Units | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Intelligent Document Processing | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Before tax WACC | 19.10% | 0% |
Long-term growth rate of net operating cash flows | 1.80% | 0% |
CANADA | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Before tax WACC | 14.30% | 11.90% |
Long-term growth rate of net operating cash flows | 1.90% | 3.40% |
Percentage Incremental Increase Of After Tax W A C C | 165% | |
Percentage Of Incremental Increase Long Term Growth Rate Of Net Operating Cash Flows | 218% | |
FRANCE | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Before tax WACC | 20.20% | 16.70% |
Long-term growth rate of net operating cash flows | 1.50% | 2.60% |
US | Enterprise Performance Management [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Before tax WACC | 18.40% | 15.20% |
Long-term growth rate of net operating cash flows | 1.80% | 2.70% |
Percentage Incremental Increase Of After Tax W A C C | 98% | |
Percentage Of Incremental Increase Long Term Growth Rate Of Net Operating Cash Flows | 146% | |
US | Enterprise Resource Planning [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Before tax WACC | 15.30% | |
Long-term growth rate of net operating cash flows | 2.70% |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | ||
Trade payable | $ 53,145 | $ 53,507 |
Accrued compensation | 33,835 | 31,396 |
Consumption taxes payable | 4,071 | 3,694 |
Performance obligations in customer contracts | 212 | 1,013 |
Provision | 0 | 50 |
Accounts payable and accrued liabilities | $ 91,263 | $ 89,660 |
Long-term Debt - Schedule of Lo
Long-term Debt - Schedule of Long Term Debt (Details) | 12 Months Ended | |||||
Mar. 31, 2023 CAD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 USD ($) | Aug. 30, 2022 | Mar. 31, 2022 CAD ($) | Mar. 31, 2022 USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 397% | |||||
Deferral of employment tax deposits and payments | $ 0 | $ 1,521,000 | $ 1,219,000 | |||
Other | 0 | 120,000 | ||||
Unamortized Transaction Costs | (507,000) | (718,000) | ||||
Borrowings | 127,190,000 | 106,676,000 | ||||
Current portion of long-term debt | 12,808,000 | 19,316,000 | ||||
Long-term debt | 114,382,000 | 87,360,000 | ||||
Accumulated amortization | 1,184,000 | 754,000 | ||||
Senior secured revolving credit facility (the "Credit Facility") | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Senior secured revolving credit facility (the “Credit Facility”) | 82,512,000 | 66,631,000 | ||||
Senior secured revolving credit facility (the "Credit Facility") | United States of America, Dollars | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Senior secured revolving credit facility (the “Credit Facility”) | 61,000,000 | 38,755,000 | ||||
Senior secured revolving credit facility (the "Credit Facility") | CAD | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Senior secured revolving credit facility (the “Credit Facility”) | 82,512,000 | 48,377,000 | ||||
Secured loans | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Senior secured revolving credit facility (the “Credit Facility”) | 13,192,000 | 8,596,000 | ||||
Secured and subordinated loans | 13,192,000 | 8,596,000 | ||||
Subordinated unsecured loan | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Secured and subordinated loans | 20,000,000 | 17,500,000 | ||||
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 | 0 | $ 3,100,000 | ||||
Maturity October 1, 2022 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings, nominal value | $ 1,800,000 | |||||
Interest rate | 6% | 6% | ||||
Balance of purchase payable with a nominal value | 0 | $ 1,748,000 | ||||
Maturity December 13, 2022 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings, nominal value | $ 8,519,000 | $ 6,825,000 | ||||
Interest rate | 6% | 6% | ||||
Balance of purchase payable with a nominal value | 0 | $ 8,178,000 | ||||
Maturity July 1, 2025 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings, nominal value | $ 12,641,000 | $ 9,345,000 | ||||
Interest rate | 4.40% | 4.40% | ||||
Balance of purchase payable with a nominal value | $ 11,993,000 | $ 0 | ||||
Annual Payment, Long-Term Debt | $ 4,214,000 | $ 3,115,000 |
Long-term Debt - Schedule of _2
Long-term Debt - Schedule of Long Term Debt Footnotes (Details) $ in Thousands, $ in Thousands | 12 Months Ended | |||||
Mar. 31, 2023 CAD ($) | Mar. 31, 2022 CAD ($) | Oct. 27, 2022 CAD ($) | Oct. 27, 2022 USD ($) | Aug. 30, 2022 | Jan. 28, 2022 CAD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||||
Maximum amount available | $ 2,705 | $ 2,000 | ||||
Optional renewal period term | 1 year | |||||
Percentage of eligible refundable tax credit | 90% | |||||
Advance drawn amount | $ 10,670 | $ 8,776 | ||||
Interest rate | 397% | |||||
Maximum tax credits receivable for financing related to refundable tax credits | $ 13,192 | $ 8,596 | ||||
Canadian or US prime rate | Bottom of range | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Percentage added to reference rate | 0.25% | |||||
Canadian or US prime rate | Top of range | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Percentage added to reference rate | 1% | |||||
Bankers’ acceptances or LIBOR rates | Bottom of range | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Percentage added to reference rate | 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% | |||||
US Prime Rate | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 1% | 1% | ||||
Senior Secured Revolving Credit Facility [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Line Of Credit Facility Maximum Amount, Under Certain Conditions | $ 140,000 | |||||
Letters Of Credit | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Maximum amount available | $ 2,500 | |||||
Subordinated unsecured loan | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Maximum amount available | $ 20,000 | |||||
Subordinated unsecured loan | First Tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Additional Borrowings | 10,000 | |||||
Subordinated unsecured loan | Second Tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Additional Borrowings | $ 10,000 | |||||
Subordinated unsecured loan | Bottom of range | First Tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 6% | |||||
Subordinated unsecured loan | Bottom of range | Second Tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 7.10% | |||||
Subordinated unsecured loan | Top of range | First Tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 7.25% | |||||
Subordinated unsecured loan | Top of range | Second Tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 8.35% |
Long-term Debt - Secured Loans
Long-term Debt - Secured Loans Issued (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about borrowings [line items] | ||
Maximum tax credits receivable for financing related to refundable tax credits | $ 13,192 | $ 8,596 |
Refundable Tax Credit In 2021 | ||
Disclosure of detailed information about borrowings [line items] | ||
Maximum tax credits receivable for financing related to refundable tax credits | 0 | 4,670 |
Refundable Tax Credit In 2022 | ||
Disclosure of detailed information about borrowings [line items] | ||
Maximum tax credits receivable for financing related to refundable tax credits | 8,719 | 3,926 |
Refundable Tax Credit In 2023 | ||
Disclosure of detailed information about borrowings [line items] | ||
Maximum tax credits receivable for financing related to refundable tax credits | $ 4,473 | $ 0 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense (Recovery) (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Current tax expense (recovery): | ||
Current tax expense (recovery) for the year | $ 569 | $ (20) |
Recognition of previously unrecognized tax benefits related to tax losses | (6,470) | |
Deferred tax recovery: | ||
Origination and reversal of temporary differences | (356) | (3,007) |
Total deferred tax recovery | (6,826) | (3,007) |
Total tax expense (income) | $ (6,257) | $ (3,027) |
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, 2023 | Mar. 31, 2022 | |
Percent | ||
Company's statutory tax rate | 26.50% | 26.50% |
Non-deductible share-based compensation expense | (3.10%) | (3.60%) |
Other non-deductible and tax exempt items | (8.80%) | 1.30% |
Change in unrecognized deferred tax assets | 0.70% | (7.20%) |
Other | 1.90% | (0.70%) |
Total average effective tax rate | 17.20% | 16.30% |
Amount | ||
Loss before income taxes | $ (36,354) | $ (18,575) |
Company's statutory tax rate | (9,634) | (4,922) |
Non-deductible share-based compensation expense | 1,112 | 663 |
Other non-deductible and tax exempt items | 3,198 | (238) |
Change in unrecognized deferred tax assets | (247) | 1,340 |
Other | (686) | 130 |
Total tax expense (income) | $ (6,257) | $ (3,027) |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Deferred Tax Liabilities (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Major components of tax expense (income) [abstract] | ||
Deferred tax liabilities | $ (8,632) | $ (9,962) |
Deferred tax assets | 5,997 | 7,247 |
Total | $ (2,635) | $ (2,715) |
Income Taxes - Summary of Movem
Income Taxes - Summary of Movements in Temperory Differences (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | $ (2,715) | |
Recognized in equity | (6,826) | $ (3,007) |
Total | (2,635) | (2,715) |
Net deferred tax assets | 1,127 | |
Datum Consulting Group, LLC | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax assets | 6,470 | |
US | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax assets | 24,359 | |
Deferred Tax Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 17,844 | 13,674 |
Recognized in earnings | 870 | 2,694 |
Recognized in equity | 10 | 113 |
Total | 18,724 | 17,844 |
0 | 0 | 1,363 |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | 0 | 0 |
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 | 17,268 | 13,116 |
Recognized in earnings | 972 | 2,804 |
Recognized in equity | 0 | 0 |
Total | 18,240 | 17,268 |
0 | 0 | 1,348 |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | 0 | 0 |
Deferred Tax Assets | Deferred financing costs | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 576 | 558 |
Recognized in earnings | (102) | (110) |
Recognized in equity | 10 | 113 |
Total | 484 | 576 |
0 | 0 | 15 |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | 0 | 0 |
Deferred Tax Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (20,559) | (9,189) |
Recognized in earnings | 5,956 | 313 |
Recognized in equity | 0 | 0 |
Total | (21,359) | (20,559) |
0 | (6,519) | (11,683) |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | 237 | 0 |
Deferred Tax Liabilities | Intangibles and goodwill | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (15,439) | (6,129) |
Recognized in earnings | 6,055 | 2,373 |
Recognized in equity | 0 | 0 |
Total | (16,140) | (15,439) |
0 | (6,519) | (11,683) |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | 237 | 0 |
Deferred Tax Liabilities | Tax credits and other | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (5,120) | (3,060) |
Recognized in earnings | (99) | (2,060) |
Recognized in equity | 0 | 0 |
Total | (5,219) | (5,120) |
0 | 0 | 0 |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | 0 | 0 |
Net Carrying Amount | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (2,715) | 4,485 |
Recognized in earnings | 6,826 | 3,007 |
Recognized in equity | 10 | 113 |
Total | (2,635) | (2,715) |
0 | (6,519) | (10,320) |
Increase (decrease) through net exchange differences, deferred tax liability (asset) | $ 237 | $ 0 |
Income Taxes - Summary of Losse
Income Taxes - Summary of Losses Available for Carryforward (Details) | Mar. 31, 2023 CAD ($) |
CANADA | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | $ 12,374,000 |
US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 29,715,000 |
2039 | CANADA | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 922,000 |
Two Thousand And Forty [Member] | CANADA | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 390,000 |
Two Thousand And Forty One [Member] | CANADA | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 2,075,000 |
Two Thousand And Forty Two [Member] | CANADA | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 3,516,000 |
Two Thousand And Forty Three | CANADA | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 5,471,000 |
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 | 13,328,000 |
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 | $ 16,387,000 |
Income Taxes - Summary of Los_2
Income Taxes - Summary of Losses Available for Carryforward (Parentheticals) (Details) | Mar. 31, 2023 CAD ($) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deductible temporary differences for which no deferred tax asset is recognized | $ 20,834,000 |
US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 29,715,000 |
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 | 20,292,000 |
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 | 13,328,000 |
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 | $ 53,274,000 |
Share Capital and Dividends - A
Share Capital and Dividends - Additional Information (Details) $ / shares in Units, $ / shares in Units, $ in Thousands | 12 Months Ended | |||||||||||
Oct. 31, 2022 USD ($) shares | Jul. 01, 2022 shares | Jun. 21, 2022 CAD ($) $ / shares shares | Jun. 14, 2021 CAD ($) $ / shares shares | Mar. 31, 2023 CAD ($) shares Vote $ / shares | Mar. 31, 2023 USD ($) shares Vote $ / shares | Mar. 31, 2022 CAD ($) shares Vote $ / shares | Mar. 31, 2022 USD ($) shares Vote $ / shares | Sep. 14, 2022 shares | Jun. 21, 2022 $ / shares | Sep. 14, 2021 shares | Jun. 14, 2021 $ / shares | |
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 80,585,000 | |||||||||||
Exercise of stock options | $ 346,000 | 299,000 | ||||||||||
Proceeds from issuing shares | 0 | 24,686,000 | ||||||||||
Share issuance, net of share issue costs | $ (29,000) | $ 0 | ||||||||||
Number of subordinated voting shares purchased (in shares) | shares | 1,073,302 | |||||||||||
Exercise price (in CAD per option) | (per share) | $ 1.38 | $ 1.20 | $ 1.06 | $ 0.99 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 2.66 | $ 3.40 | ||||||||||
Performance Share Units | shares | 332,263 | |||||||||||
Performance share units, vesting period | 3 years | 3 years | ||||||||||
Restricted share units | shares | 181,498 | 181,498 | 181,498 | 181,498 | ||||||||
Performance share units | $ 1,233,000 | $ 273,000 | ||||||||||
Deferred income tax | (6,826,000) | (3,007,000) | ||||||||||
Allowable Purchase for Cancellation of Subordinate Voting Shares | shares | 2,491,128 | 5,462,572 | ||||||||||
Normal course issuer bid, percentage of public float | 5% | 10% | ||||||||||
Shares purchased for cancellation | $ (1,033,000) | $ (1,160,000) | ||||||||||
Total contributions by, and distributions to, shareholders (in shares) | shares | 2,470,200 | 2,470,200 | 34,030,178 | 34,030,178 | ||||||||
Increase (decrease) in equity | $ 11,857,000 | $ 107,726,000 | ||||||||||
CAD | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Stock options exercisable (in shares) | shares | 3,400,696 | 3,400,696 | 3,079,598 | 3,079,598 | ||||||||
Options issued (in shares) | shares | 626,230 | 774,202 | ||||||||||
USD | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Options issued (in shares) | shares | 265,125 | 299,100 | ||||||||||
DSU | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Settlement period, Canadian participants | 90 days | 90 days | ||||||||||
Settlement period, US Participants | 6 months | 6 months | ||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 227,453 | 227,453 | 173,149 | 173,149 | ||||||||
Aggregate fair value of other equity instruments granted | $ 579,000 | $ 576,000 | ||||||||||
PSU | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Fair value of other equity instruments granted (in CAD per share) | $ 3.25 | $ 3.24 | ||||||||||
Aggregate fair value of other equity instruments granted | $ 1,716,000 | $ 1,077,000 | ||||||||||
Contributed Surplus | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Increase (decrease) in equity | 4,842,000 | (43,000) | ||||||||||
Share Capital | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | 80,585,000 | |||||||||||
Shares purchased for cancellation | (1,303,000) | (1,244,000) | ||||||||||
Increase (decrease) in equity | 6,745,000 | 107,685,000 | ||||||||||
Deficit | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Shares purchased for cancellation | 270,000 | 84,000 | ||||||||||
Increase (decrease) in equity | (270,000) | (84,000) | ||||||||||
Matricis Informatique Inc. | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Value of vested shares | 100,000 | 350,000 | ||||||||||
Alithya Travercent LLC | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Value of vested shares | 0 | 453,000 | ||||||||||
Askida Inc. | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Value of vested shares | 251,000 | 721,000 | ||||||||||
Datum Consulting Group, LLC | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | 5,528,000 | |||||||||||
Value of vested shares | 2,644,000 | $ 0 | ||||||||||
Deferred Cash Consideration Paid | 8,000 | |||||||||||
Datum Consulting Group, LLC | Share Capital | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | 5,528,000 | |||||||||||
Trafic 3W inc | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | 276,000 | |||||||||||
Deferred Cash Consideration Paid | 2,000 | |||||||||||
Trafic 3W inc | Share Capital | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 276,000 | |||||||||||
Top of range | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Employee’s basic contribution | 10% | 10% | ||||||||||
Subordinate Voting Shares | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Number of votes per share | Vote | 1 | 1 | 1 | 1 | ||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ 346,000 | $ 299,000 | ||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 152,632 | 152,632 | 63,874 | 63,874 | ||||||||
Subordinate Voting Shares | Contributed Surplus | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ (229,000) | |||||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ (190,000) | $ (195,000) | ||||||||||
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 | 0 | 0 | 2,750 | 2,750 | ||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ 0 | $ 10,000 | ||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 63,874 | 63,874 | ||||||||||
Issuance of Multiple Voting Shares from exercise of stock options | 536,000 | $ 195,000 | ||||||||||
Stock Converted During Period, Value | $ 182,000 | 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 | |||||||||||
Stock Purchased For Cancellation, Shares | shares | (371,525) | (371,525) | (349,400) | (349,400) | ||||||||
Stock Issued During Period, Shares, Private Placement | shares | 8,143,322 | 8,143,322 | ||||||||||
Stock Converted During Period, Shares | shares | 302,632 | 302,632 | ||||||||||
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 | 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 | 1,628,664 | ||||||||||
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 | ||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 600,000 | $ 600,000 | ||||||||||
Subordinate Voting Shares | Matricis Informatique 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 | 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) | shares | 376,250 | 376,250 | ||||||||||
Equity interest issued or issuable | $ 1,108,000 | $ 819 | $ (1,249,000) | $ 975 | ||||||||
Subordinate Voting Shares | Alithya Travercent LLC | 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 | 580,500 | 580,500 | ||||||||||
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 | 300,192 | ||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 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 | 25,182,676 | ||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 80,585,000 | |||||||||||
Subordinate Voting Shares | Datum Consulting Group, 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 | 5,551,961 | |||||||||||
Equity interest issued or issuable | $ 5,552 | |||||||||||
Subordinate Voting Shares | Datum Consulting Group, LLC | 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 | 1,867,262 | 1,867,262 | ||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | $ 5,528,000 | |||||||||||
Business Acquisition, Equity Interest Issued, Share Issue Related Cost | (32,000) | |||||||||||
Subordinate Voting Shares | Trafic 3W inc | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Equity interest issued or issuable | $ 281 | |||||||||||
Subordinate Voting Shares | Trafic 3W 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 | 83,449 | |||||||||||
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | 276,000 | |||||||||||
Business Acquisition, Equity Interest Issued, Share Issue Related Cost | $ (7,000) | |||||||||||
Multiple Voting Shares | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Number of votes per share | Vote | 10 | 10 | 10 | 10 | ||||||||
Number of stock options available to purchase of shares (in shares) | shares | 505,264 | 505,264 | 657,896 | 657,896 | ||||||||
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 | 152,632 | ||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ 536,000 | $ 518,000 | ||||||||||
Stock Converted During Period, Value | $ 182,000 | |||||||||||
Stock Converted During Period, Shares | shares | 302,632 | 302,632 | ||||||||||
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 | 152,632 | 152,632 | 155,382 | 155,382 | ||||||||
Subordinate Voting Shares and Multiple Voting Shares | Share Capital | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Issuance of Multiple Voting Shares from exercise of stock options | $ 528,000 | |||||||||||
Long Term Incentive Plan | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Vesting period | 4 years | 4 years | ||||||||||
Number of subordinated voting shares purchased (in shares) | shares | 891,355 | |||||||||||
Long Term Incentive Plan | CAD | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 152,632 | 152,632 | 154,132 | 154,132 | ||||||||
Stock options exercisable (in shares) | shares | 1,464,014 | 1,464,014 | 1,289,896 | 1,289,896 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 2.27 | $ (1.92) | ||||||||||
Long Term Incentive Plan | USD | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 0 | 0 | 1,250 | 1,250 | ||||||||
Stock options exercisable (in shares) | shares | 284,400 | 284,400 | 237,909 | 237,909 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 0 | $ 1.67 | ||||||||||
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% | 10% |
Share Capital and Dividends - S
Share Capital and Dividends - Summary of Issued Share Capital (Details) $ in Thousands | 12 Months Ended | |||||
Oct. 31, 2022 USD ($) shares | Jul. 01, 2022 shares | Mar. 31, 2023 CAD ($) shares | Mar. 31, 2023 USD ($) shares | Mar. 31, 2022 CAD ($) shares | Mar. 31, 2022 USD ($) shares | |
Disclosure of classes of share capital [line items] | ||||||
Balance (in shares) | shares | 92,725,616 | 92,725,616 | 58,695,438 | 58,695,438 | ||
Balance (in shares) | shares | 95,195,816 | 95,195,816 | 92,725,616 | 92,725,616 | ||
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 | 346,000 | 299,000 | ||||
Share capital | 311,967,000 | 305,222,000 | ||||
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 | 1,708,000 | 2,935,000 | ||||
Business acquisition | $ 80,585,000 | |||||
Datum Consulting Group, LLC | ||||||
Disclosure of classes of share capital [line items] | ||||||
Business acquisition | 5,528,000 | |||||
Datum Consulting Group, LLC | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Business acquisition | 5,528,000 | |||||
Trafic 3W inc | ||||||
Disclosure of classes of share capital [line items] | ||||||
Business acquisition | 276,000 | |||||
Trafic 3W inc | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Business acquisition | $ 276,000 | |||||
Subordinate Voting Shares | ||||||
Disclosure of classes of share capital [line items] | ||||||
Settlement of DSU (in shares) | shares | 152,632 | 152,632 | 63,874 | 63,874 | ||
Issuance of Multiple Voting Shares from exercise of stock options | $ 346,000 | $ 299,000 | ||||
Subordinate Voting Shares | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Balance (in shares) | shares | 85,554,000 | 85,554,000 | 51,373,822 | 51,373,822 | ||
Exercise of stock options (in shares) | shares | 0 | 0 | 2,750 | 2,750 | ||
Settlement of DSU (in shares) | shares | 63,874 | 63,874 | ||||
Balance (in shares) | shares | 87,871,568 | 87,871,568 | 85,554,000 | 85,554,000 | ||
Beginning balance | $ 300,901,000 | $ 193,552,000 | ||||
Stock Issued During Period, Shares, Private Placement | shares | 8,143,322 | 8,143,322 | ||||
Stock Issued During Period, Value, Private Placement | $ 24,686,000 | |||||
Stock Purchased For Cancellation, Value | $ (1,303,000) | $ (1,244,000) | ||||
Stock Purchased For Cancellation, Shares | shares | (371,525) | (371,525) | (349,400) | (349,400) | ||
Issuance of Multiple Voting Shares from exercise of stock options | $ 0 | $ 10,000 | ||||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture1 | 536,000 | 195,000 | ||||
Ending balance | $ 307,110,000 | $ 300,901,000 | ||||
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 | 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 | 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 | 738,382 | 738,382 | 834,324 | 834,324 | ||
Business acquisition | $ 1,708,000 | $ 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 | 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 | 376,250 | ||||
Equity interest issued or issuable | $ (1,108,000) | $ (819) | $ 1,249,000 | $ (975) | ||
Subordinate Voting Shares | Alithya Travercent LLC | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 580,500 | 580,500 | ||||
Subordinate Voting Shares | Datum Consulting Group, LLC | ||||||
Disclosure of classes of share capital [line items] | ||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 5,551,961 | |||||
Equity interest issued or issuable | $ (5,552) | |||||
Subordinate Voting Shares | Datum Consulting Group, LLC | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 1,867,262 | 1,867,262 | ||||
Business acquisition | $ 5,528,000 | |||||
Subordinate Voting Shares | Trafic 3W inc | ||||||
Disclosure of classes of share capital [line items] | ||||||
Equity interest issued or issuable | $ (281) | |||||
Subordinate Voting Shares | Trafic 3W inc | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Issuance of Subordinate Voting Shares (in shares) | shares | 83,449 | |||||
Business acquisition | $ 276,000 | |||||
Multiple Voting Shares | Share Capital | ||||||
Disclosure of classes of share capital [line items] | ||||||
Balance (in shares) | shares | 7,171,616 | 7,171,616 | 7,321,616 | 7,321,616 | ||
Exercise of stock options (in shares) | shares | 152,632 | 152,632 | 152,632 | 152,632 | ||
Balance (in shares) | shares | 7,324,248 | 7,324,248 | 7,171,616 | 7,171,616 | ||
Beginning balance | $ 4,321,000 | $ 3,985,000 | ||||
Issuance of Multiple Voting Shares from exercise of stock options | 536,000 | 518,000 | ||||
Ending balance | $ 4,857,000 | $ 4,321,000 |
Share Capital and Dividends - T
Share Capital and Dividends - Transaction Activity Related to Class of Shares (Details) - shares | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 92,725,616 | 58,695,438 |
Balance (in shares) | 95,195,816 | 92,725,616 |
Share Capital and Dividends -_2
Share Capital and Dividends - Summary of Shares Converted After Acquisition (Details) - shares | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of classes of share capital [line items] | |||
Ending balance (in shares) | 95,195,816 | 92,725,616 | 58,695,438 |
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, 2023 | Mar. 31, 2022 | |
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 92,725,616 | 58,695,438 |
Balance (in shares) | 95,195,816 | 92,725,616 |
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 Datum, net of share issuance costs | 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 | 1,708,000 | 2,935,000 |
Issuance of Subordinate Voting Shares in consideration of the acquisition of Datum, net of share issuance costs | 80,585,000 | |
Subordinate Voting Shares | ||
Disclosure of classes of share capital [line items] | ||
Issuance of Multiple Voting Shares from exercise of stock options | $ 346,000 | $ 299,000 |
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | 152,632 | 63,874 |
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 Datum, net of share issuance costs | $ 600,000 | $ 600,000 |
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | 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 Datum, net of share issuance costs | $ 1,086,000 | |
Issuance of Subordinate Voting Shares in consideration of the acquisition of R3D Consulting Inc. (in shares) | 300,192 | |
Subordinate Voting Shares | Share Capital | ||
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 85,554,000 | 51,373,822 |
Balance (in shares) | 87,871,568 | 85,554,000 |
Beginning balance | $ 300,901,000 | $ 193,552,000 |
Ending balance | 307,110,000 | 300,901,000 |
Issuance of Multiple Voting Shares from exercise of stock options | 0 | 10,000 |
Issuance of Multiple Voting Shares from exercise of stock options | $ 536,000 | $ 195,000 |
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | 0 | 2,750 |
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | 63,874 | |
Subordinate Voting Shares | Share Capital | 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) | 157,882 | |
Subordinate Voting Shares | Share Capital | 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) | 580,500 | |
Multiple Voting Shares | Share Capital | ||
Disclosure of classes of share capital [line items] | ||
Balance (in shares) | 7,171,616 | 7,321,616 |
Balance (in shares) | 7,324,248 | 7,171,616 |
Beginning balance | $ 4,321,000 | $ 3,985,000 |
Ending balance | 4,857,000 | 4,321,000 |
Issuance of Multiple Voting Shares from exercise of stock options | $ 536,000 | $ 518,000 |
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 Share based Compensation (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of classes of share capital [abstract] | ||
Stock option plan | $ 1,262 | $ 851 |
Share purchase plan – employer contribution | 1,372 | 1,138 |
Share-based compensation on shares vested during the period, issued on business acquisitions | 2,995 | 1,524 |
Deferred share units | 1,250 | 576 |
Restricted share units | 0 | 92 |
Performance share units | 1,233 | 273 |
Expense from share-based payment transactions with employees | $ 8,112 | $ 4,454 |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Details) | 12 Months Ended | |||||||||||
Jun. 21, 2022 CAD ($) shares | Jun. 14, 2021 CAD ($) shares | Mar. 31, 2023 shares $ / shares | Mar. 31, 2023 CAD ($) shares $ / shares | Mar. 31, 2022 shares $ / shares | Mar. 31, 2022 CAD ($) shares $ / shares | Sep. 14, 2022 shares | Jun. 21, 2022 $ / shares | Jun. 21, 2022 CAD ($) $ / shares shares | Sep. 14, 2021 shares | Jun. 14, 2021 $ / shares | Jun. 14, 2021 CAD ($) $ / shares shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Allowable Purchase for Cancellation of Subordinate Voting Shares | 2,491,128 | 5,462,572 | ||||||||||
Normal course issuer bid, percentage of public float | 5% | 10% | ||||||||||
Number of subordinated voting shares purchased (in shares) | 1,073,302 | |||||||||||
Exercise price (in CAD per option) | (per share) | $ 1.06 | $ 1.38 | $ 0.99 | $ 1.20 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 2.66 | $ 3.40 | ||||||||||
Share Based Compensation Expense, Deferred Stock Units | $ | $ 671,000 | |||||||||||
Restricted share units | 181,498 | 181,498 | 181,498 | 181,498 | ||||||||
Performance Share Units | 332,263 | |||||||||||
Performance share units, vesting period | 3 years | 3 years | ||||||||||
Vesting Date, Deferred Stock Units | 1 year | |||||||||||
Share based Payment Arrangement, Maximum Eligible Employee Annual Bonus DSU | 50% | |||||||||||
Share based Payment Arrangement, Maximum Eligible Employee Annual Matching DSUs | 25% | |||||||||||
Matricis Informatique Inc. | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Value of vested shares | $ | $ 100,000 | $ 350,000 | ||||||||||
Alithya Travercent LLC | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Value of vested shares | $ | 0 | 453,000 | ||||||||||
Askida Inc. | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Value of vested shares | $ | 251,000 | 721,000 | ||||||||||
Datum Consulting Group, LLC | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Value of vested shares | $ | $ 2,644,000 | $ 0 | ||||||||||
CAD | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Exercisable at year end (in shares) | 3,400,696 | 3,400,696 | 3,079,598 | 3,079,598 | ||||||||
Options issued (in shares) | 626,230 | 774,202 | ||||||||||
United States of America, Dollars | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Options issued (in shares) | 265,125 | 299,100 | ||||||||||
Performance Share Unit (PSU) | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Performance Share Units | 528,120 | 332,263 | ||||||||||
PSU | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Aggregate fair value of other equity instruments granted | $ | $ 1,716,000 | $ 1,077,000 | ||||||||||
Fair value of other equity instruments granted (in CAD per share) | $ | $ 3.25 | $ 3.24 | ||||||||||
DSU | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Settlement period, Canadian participants | 90 days | |||||||||||
Settlement period, US Participants | 6 months | |||||||||||
Aggregate fair value of other equity instruments granted | $ | $ 579,000 | $ 576,000 | ||||||||||
Multiple Voting Shares | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Number of stock options available to purchase of shares (in shares) | 505,264 | 657,896 | ||||||||||
Long Term Incentive Plan | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Vesting period | 4 years | |||||||||||
Number of subordinated voting shares purchased (in shares) | 891,355 | |||||||||||
Long Term Incentive Plan | CAD | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Exercisable at year end (in shares) | 1,464,014 | 1,464,014 | 1,289,896 | 1,289,896 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 2.27 | $ (1.92) | ||||||||||
Long Term Incentive Plan | United States of America, Dollars | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Exercisable at year end (in shares) | 284,400 | 284,400 | 237,909 | 237,909 | ||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 0 | $ 1.67 | ||||||||||
Long Term Incentive Plan | Subordinate Voting Shares and Multiple Voting Shares | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Percentage of aggregate number of shares issued and outstanding | 10% | |||||||||||
Top of range | ||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||||
Employee’s basic contribution | 10% |
Share-Based Payments - Summary
Share-Based Payments - Summary of Option Activity (Details) | 12 Months Ended | |||||||
Mar. 31, 2023 shares $ / shares | Mar. 31, 2023 shares $ / shares $ / shares | Mar. 31, 2022 shares $ / shares | Mar. 31, 2022 shares $ / shares $ / shares | Mar. 31, 2023 shares $ / shares | Mar. 31, 2022 shares $ / shares | Mar. 31, 2021 shares $ / shares | Mar. 31, 2021 shares $ / 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) | $ / shares | $ 2.66 | $ 3.40 | ||||||
CAD | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Exercisable at year end (in shares) | shares | 3,400,696 | 3,400,696 | 3,079,598 | 3,079,598 | 3,400,696 | 3,079,598 | ||
CAD | Long Term Incentive Plan | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of share options outstanding in share-based payment arrangement | shares | 3,400,696 | 3,400,696 | 3,079,598 | 3,079,598 | 3,400,696 | 3,079,598 | 2,607,528 | 2,607,528 |
Weighted average exercise price of share options outstanding in share-based payment arrangement | $ / shares | $ 3.23 | $ 3.23 | $ 3.19 | $ 3.19 | $ 3.10 | |||
Granted (in shares) | shares | 626,230 | 626,230 | 774,202 | 774,202 | ||||
Granted (in CAD per option) | $ / shares | $ 3.25 | $ 3.23 | ||||||
Number of share options forfeited in share-based payment arrangement | shares | (67,500) | (67,500) | (148,000) | (148,000) | ||||
Forfeited (in CAD per option) | $ / shares | $ 3.60 | $ 3.20 | ||||||
Number of share options expired in share-based payment arrangement | shares | (85,000) | (85,000) | 0 | 0 | ||||
Expired (in CAD per option) | $ / shares | $ 3.65 | $ 0 | ||||||
Number of share options exercised in share-based payment arrangement | shares | (152,632) | (152,632) | (154,132) | (154,132) | ||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 2.27 | $ (1.92) | ||||||
Exercisable at year end (in shares) | shares | 1,464,014 | 1,464,014 | 1,289,896 | 1,289,896 | 1,464,014 | 1,289,896 | ||
Exercisable at year end (in CAD per option) | $ / shares | $ 3.42 | $ 3.42 | $ 3.22 | $ 3.22 | ||||
United States of America, Dollars | Long Term Incentive Plan | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of share options outstanding in share-based payment arrangement | shares | 1,084,175 | 1,084,175 | 1,004,484 | 1,004,484 | 1,084,175 | 1,004,484 | 917,653 | 917,653 |
Weighted average exercise price of share options outstanding in share-based payment arrangement | $ / shares | $ 2.55 | $ 2.63 | $ 3.08 | |||||
Granted (in shares) | shares | 265,125 | 265,125 | 299,100 | 299,100 | ||||
Granted (in CAD per option) | $ / shares | $ 2.50 | $ 2.66 | ||||||
Number of share options forfeited in share-based payment arrangement | shares | (94,475) | (94,475) | (44,167) | (44,167) | ||||
Forfeited (in CAD per option) | $ / shares | $ 2.91 | $ 3.80 | ||||||
Number of share options expired in share-based payment arrangement | shares | (90,959) | (90,959) | (166,852) | (166,852) | ||||
Expired (in CAD per option) | $ / shares | $ 2.92 | $ 4.84 | ||||||
Number of share options exercised in share-based payment arrangement | shares | 0 | 0 | (1,250) | (1,250) | ||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 0 | $ 1.67 | ||||||
Exercisable at year end (in shares) | shares | 284,400 | 284,400 | 237,909 | 237,909 | 284,400 | 237,909 | ||
Exercisable at year end (in CAD per option) | $ / shares | $ 2.81 | $ 3 |
Share-Based Payments - Assumpti
Share-Based Payments - Assumptions Used for Valuation of Share Options Granted (Details) | 12 Months Ended | |
Mar. 31, 2023 yr $ / shares | Mar. 31, 2022 yr $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | ||
Share price (in CAD per option) | $ 3.25 | $ 3.23 |
Exercise price (in CAD per option) | $ 3.25 | $ 3.23 |
Risk-free interest rate | 3.50% | 1.25% |
Expected volatility | 35% | 34.70% |
Dividend yield | 0% | 0% |
Expected option life (years) | yr | 6.6 | 6.6 |
Vesting conditions – time (years) | 3 years 3 months 18 days | 3 years 2 months 12 days |
Share-Based Payments - Schedule
Share-Based Payments - Schedule of Share Options Outstanding and Exercisable (Details) | 12 Months Ended | |||||
Mar. 31, 2023 shares $ / shares | Mar. 31, 2022 shares | Jun. 21, 2022 $ / shares | Jun. 21, 2022 $ / shares | Jun. 14, 2021 $ / shares | Jun. 14, 2021 $ / shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | (per share) | $ 1.38 | $ 1.06 | $ 1.20 | $ 0.99 | ||
CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 3,400,696 | 3,079,598 | ||||
Weighted average remaining contractual life of outstanding share options | 6 years 3 months 21 days | 6 years 2 months 15 days | ||||
CAD | One Point Eight Five To Two Point Five Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 735,264 | 892,896 | ||||
Weighted average remaining contractual life of outstanding share options | 5 years 5 months 8 days | 5 years 6 months 7 days | ||||
CAD | Two Point Six Five To Two Point Nine Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 295,000 | 298,500 | ||||
Weighted average remaining contractual life of outstanding share options | 2 years 7 months 17 days | 3 years 7 months 20 days | ||||
CAD | Two Point Nine Six To Three Point Three Zero [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 1,366,432 | 760,202 | ||||
Weighted average remaining contractual life of outstanding share options | 8 years 1 month 24 days | 8 years 3 months 3 days | ||||
CAD | Three Point Three One To Three Point Nine Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 564,000 | 673,000 | ||||
Weighted average remaining contractual life of outstanding share options | 5 years 5 months 23 days | 5 years 8 months 15 days | ||||
CAD | Three Point Nine Six To Four Point Five Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 440,000 | 455,000 | ||||
Weighted average remaining contractual life of outstanding share options | 5 years 7 months 2 days | 6 years 7 months 2 days | ||||
CAD | Top of range | One Point Eight Five To Two Point Five Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | $ 2.55 | |||||
CAD | Top of range | Two Point Six Five To Two Point Nine Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 2.96 | |||||
CAD | Top of range | Two Point Nine Six To Three Point Three Zero [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 3.30 | |||||
CAD | Top of range | Three Point Three One To Three Point Nine Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 3.95 | |||||
CAD | Top of range | Three Point Nine Six To Four Point Five Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 4.55 | |||||
CAD | Bottom of range | One Point Eight Five To Two Point Five Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 1.90 | |||||
CAD | Bottom of range | Two Point Six Five To Two Point Nine Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 2.56 | |||||
CAD | Bottom of range | Two Point Nine Six To Three Point Three Zero [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 2.97 | |||||
CAD | Bottom of range | Three Point Three One To Three Point Nine Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 3.31 | |||||
CAD | Bottom of range | Three Point Nine Six To Four Point Five Five [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | $ 3.96 | |||||
United States of America, Dollars | 1.67 to 2.25 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 175,000 | 180,000 | ||||
Weighted average remaining contractual life of outstanding share options | 7 years 2 months 23 days | 8 years 2 months 23 days | ||||
United States of America, Dollars | 2.26 to 3.85 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 665,425 | 513,525 | ||||
Weighted average remaining contractual life of outstanding share options | 8 years 2 months 12 days | 7 years 2 months 19 days | ||||
United States of America, Dollars | 3.86 to 4.45 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 243,750 | 305,000 | ||||
Weighted average remaining contractual life of outstanding share options | 5 years 11 months 15 days | 6 years 11 months 8 days | ||||
United States of America, Dollars | 4.59 to 4.85 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 5,959 | |||||
Weighted average remaining contractual life of outstanding share options | 9 months 21 days | |||||
United States of America, Dollars | 4.90 to 5.45 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercisable at year end (in shares) | shares | 1,084,175 | 1,004,484 | ||||
Weighted average remaining contractual life of outstanding share options | 7 years 6 months 14 days | 7 years 3 months 10 days | ||||
United States of America, Dollars | Top of range | 1.67 to 2.25 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | $ 2.25 | |||||
United States of America, Dollars | Top of range | 2.26 to 3.85 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 2.75 | |||||
United States of America, Dollars | Top of range | 3.86 to 4.45 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 3.85 | |||||
United States of America, Dollars | Top of range | 4.59 to 4.85 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 5.45 | |||||
United States of America, Dollars | Bottom of range | 1.67 to 2.25 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 1.67 | |||||
United States of America, Dollars | Bottom of range | 2.26 to 3.85 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 2.26 | |||||
United States of America, Dollars | Bottom of range | 3.86 to 4.45 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | 2.76 | |||||
United States of America, Dollars | Bottom of range | 4.59 to 4.85 | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Exercise price (in CAD per option) | $ 3.86 |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of DSU Activity (Details) - DSU - shares | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of other equity instruments outstanding in share-based payment arrangement | 666,974 | 439,521 | 330,246 |
Number of other equity instruments granted in share-based payment arrangement (in shares) | 227,453 | 173,149 | |
Settled (in shares) | 0 | (63,874) |
Share-Based Payments - Summar_3
Share-Based Payments - Summary of PSU Activity (Details) | 12 Months Ended | ||||
Mar. 31, 2023 Year | Mar. 31, 2022 Year | Jun. 21, 2022 shares | Jun. 14, 2021 shares | Mar. 31, 2021 Year | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Performance Share Units | shares | 332,263 | ||||
Performance Share Unit (PSU) | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of share options outstanding in share-based payment arrangement | Year | 855,383 | 332,263 | 0 | ||
Performance Share Units | shares | 528,120 | 332,263 | |||
Number of share options forfeited in share-based payment arrangement | Year | (5,000) | 0 |
Commitments - Schedule of Opera
Commitments - Schedule of Operating Expenditures Contracted but not Incurred (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | $ 178,793 | $ 130,149 |
Technology licenses, infrastructure and other | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 19,316 | |
Technology licenses, infrastructure and other | Not later than one year [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 9,176 | |
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 | 3,299 | |
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 | 1,355 | |
Technology licenses, infrastructure and other | Later than three years and not later than four years [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 1,367 | |
Technology licenses, infrastructure and other | Thereafter | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | $ 4,119 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of transactions between related parties [line items] | ||
Payments of incremental benefit in the event of termination | $ 2,820 | |
Related parties | ||
Disclosure of transactions between related parties [line items] | ||
Voting right percentage | 45.84% | |
Related parties | Top of range | ||
Disclosure of transactions between related parties [line items] | ||
Payments of incremental benefit in the event of termination | $ 6,624 | $ 5,122 |
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, 2023 | Mar. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | ||
Director compensation, and key management salaries and benefits | $ 4,101,000 | $ 4,312,000 |
Share-based compensation | 3,081,000 | 1,325,000 |
Termination benefits | 0 | 317,000 |
Key management personnel compensation | $ 7,182,000 | $ 5,954,000 |
Related Parties - Summary of Op
Related Parties - Summary of Operating Transactions with Key Management Personnel (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | ||
Revenues | $ 6,811 | $ 21,100 |
Receivables due from related parties | $ 4,287 |
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, 2023 | Mar. 31, 2022 | |
Earnings per share [abstract] | ||
Net loss | $ (30,097) | $ (15,548) |
Weighted average number of common shares outstanding (in shares) | 94,178,549 | 85,297,843 |
Basic earnings (loss) per share (in CAD per share) | $ (0.32) | $ (0.18) |
Diluted earnings (loss) per share (in CAD per share) | $ (0.32) | $ (0.18) |
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, 2023 | Mar. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | $ 106,676 | $ 54,951 |
Repayment | (97,518) | (146,509) |
Proceeds | 98,682 | 156,768 |
Total cash flow | 1,164 | 10,259 |
Business acquisition (note 3) | 20,210 | 47,471 |
Amortization of finance costs | 430 | 277 |
Interest accretion on balances of purchase payable | 784 | 823 |
Impacts of foreign exchange | 7,083 | (1,237) |
Forgiveness of PPP loans | 0 | (5,868) |
Reclassification other long-term debt | 0 | 0 |
Total non cash | 28,507 | 41,466 |
Ending balance | 136,347 | 106,676 |
Current portion of long-term debt | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 19,316 | 35,134 |
Repayment | (20,362) | (42,590) |
Proceeds | 0 | 0 |
Total cash flow | (20,362) | (42,590) |
Business acquisition (note 3) | 3,684 | 38,584 |
Amortization of finance costs | 0 | 0 |
Interest accretion on balances of purchase payable | 393 | 0 |
Impacts of foreign exchange | 1,250 | (9) |
Reclassification other long-term debt | 8,527 | (11,803) |
Total non cash | 13,854 | 26,772 |
Ending balance | 12,808 | 19,316 |
Long-term debt | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 87,360 | 19,817 |
Repayment | (77,156) | (103,919) |
Proceeds | 98,682 | 156,768 |
Total cash flow | 21,526 | 52,849 |
Business acquisition (note 3) | 7,369 | 8,887 |
Amortization of finance costs | 430 | 277 |
Interest accretion on balances of purchase payable | 391 | 823 |
Impacts of foreign exchange | 5,833 | (1,228) |
Forgiveness of PPP loans | 0 | (5,868) |
Reclassification other long-term debt | (8,527) | 11,803 |
Total non cash | 5,496 | 14,694 |
Ending balance | 114,382 | 87,360 |
Contingent consideration [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 0 | |
Repayment | 0 | |
Proceeds | 0 | |
Total cash flow | 0 | |
Business acquisition (note 3) | 9,157 | |
Amortization of finance costs | 0 | |
Interest accretion on balances of purchase payable | 0 | |
Impacts of foreign exchange | 0 | |
Reclassification other long-term debt | 0 | |
Total non cash | 9,157 | |
Ending balance | $ 9,157 | $ 0 |
Additional Information on Con_2
Additional Information on Consolidated Loss - Schedule of Additional Information on Consolidated Loss (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Employee Compensation Costs | $ 469,210 | $ 411,669 |
Tax Credits | 10,686 | 10,870 |
Grants and loan forgiveness | 0 | 6,234 |
License and telecommunication fees | 9,789 | 6,848 |
Professional fees expense | 7,496 | 5,911 |
Other expenses, by nature | 18,882 | 13,246 |
Impairment loss recognised in profit or loss, property, plant and equipment | 2,758 | 0 |
Depreciation, property, plant and equipment | 2,807 | 2,568 |
Depreciation, right-of-use assets | 3,729 | 2,867 |
Expenses, by nature | 503,985 | 426,005 |
Cost of revenues | 370,927 | 321,732 |
Selling, general and administrative expenses | 126,522 | 98,838 |
Depreciation | 6,536 | 5,435 |
Expense, by function | 503,985 | 426,005 |
Selling, General And Administrative Expense | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Tax Credits | $ 189 | 239 |
Grants and loan forgiveness | 1,324 | |
PPP And Cares Act Covid-19 Loans | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Grants and loan forgiveness | $ (5,868) |
Business acquisition, integra_3
Business acquisition, integration and reorganization costs (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Business acquisition, integration and reorganization costs [Abstract] | ||
Acquisition Costs | $ 1,554 | $ 3,964 |
Integration Costs | 2,189 | 6,808 |
Reorganization costs related to modifications to cost structure | 4,582 | 845 |
Employee Compensation Costs | 597 | 0 |
Increase (decrease) in contingent consideration asset (liability) | 9,157 | 0 |
Business acquisition, integration and reorganization costs | $ 18,079 | 11,617 |
Employee benefits expense | $ 2,820 |
Net Financial Expenses - Summar
Net Financial Expenses - Summary of Financial Expenses (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Financial Expense [Abstract] | ||
Interest on long-term debt | $ 7,087 | $ 2,402 |
Interest and financing charges | 558 | 432 |
Interest on lease liabilities | 825 | 725 |
Depreciation and amortization | 430 | 277 |
Interest accretion on balances of purchase payable | 784 | 823 |
Interest income | (349) | (80) |
Finance costs | $ 9,335 | $ 4,579 |
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, 2023 | Mar. 31, 2022 | |
Supplementary Cash Flow Information [Abstract] | ||
Accounts receivable and other receivables | $ 15,750 | $ (15,894) |
Adjustments for decrease (increase) in other assets | 103 | 0 |
Income taxes receivable | 0 | 628 |
Unbilled revenues | (4,482) | 865 |
Tax credits receivable | (1,606) | (5,688) |
Prepaids | (940) | (765) |
Accounts payable and accrued liabilities | (6,159) | 17,651 |
Deferred revenues | (366) | 2,083 |
Net change in non-cash working capital items | 2,300 | (1,120) |
Additions to right of use assets and lease liabilities | 293 | 67 |
Accounts Receivable and Other Receivables Reclassified | 305 | |
Right of use assets reclassified | 849 | |
Other assets | $ 103 | $ 1,154 |
Segment and Geographical Info_3
Segment and Geographical Information - Summary of Group's Operations based on reportable segments (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of operating segments [line items] | ||
Revenues | $ 522,701 | $ 437,885 |
Revenue and other operating income | 65,653 | 45,669 |
General and administrative expense | 40,401 | 28,354 |
Business acquisition, integration and reorganization costs | 18,079 | 11,617 |
Foreign exchange gain (loss) | 159 | (26) |
Operating Income Before Depreciation And Amortization | 7,014 | 5,724 |
Depreciation and amortisation expense | 34,033 | 19,720 |
Profit (loss) from operating activities | (27,019) | (13,996) |
CANADA | ||
Disclosure of operating segments [line items] | ||
Revenues | 312,349 | 284,614 |
Revenue and other operating income | 35,964 | 25,420 |
US | ||
Disclosure of operating segments [line items] | ||
Revenues | 189,883 | 139,519 |
Revenue and other operating income | 26,736 | 18,996 |
International | ||
Disclosure of operating segments [line items] | ||
Revenues | 20,469 | 13,752 |
Revenue and other operating income | $ 2,953 | $ 1,253 |
Segment and Geographical Info_4
Segment and Geographical Information - Summary of External Revenues by Geographic Location (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of geographical areas [line items] | ||
Revenues | $ 522,701 | $ 437,885 |
CANADA | ||
Disclosure of geographical areas [line items] | ||
Revenues | 312,349 | 284,614 |
UNITED STATES | ||
Disclosure of geographical areas [line items] | ||
Revenues | $ 189,883 | $ 139,519 |
Segment and Geographical Info_5
Segment and Geographical Information - Summary of Long-lived Assets by Geographic Location (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 288,805 | $ 273,573 |
Long lived assets percentage | 100% | 100% |
CANADA | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 138,450 | $ 154,251 |
Long lived assets percentage | 47.90% | 56.40% |
UNITED STATES | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 148,316 | $ 118,023 |
Long lived assets percentage | 51.40% | 43.10% |
Europe [Member] | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 2,039 | $ 1,299 |
Long lived assets percentage | 0.70% | 0.50% |
Segment and Geographical Info_6
Segment and Geographical Information - Summary of Revenue from Customers for Major Service Category (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of major customers [line items] | ||
Revenues | $ 522,701 | $ 437,885 |
CANADA | ||
Disclosure of major customers [line items] | ||
Revenues | 312,349 | 284,614 |
US | ||
Disclosure of major customers [line items] | ||
Revenues | 189,883 | 139,519 |
International | ||
Disclosure of major customers [line items] | ||
Revenues | 20,469 | 13,752 |
System Integration And Consulting Services [Member] | ||
Disclosure of major customers [line items] | ||
Revenues | 397,950 | 359,108 |
System Integration And Consulting Services [Member] | CANADA | ||
Disclosure of major customers [line items] | ||
Revenues | 264,542 | 240,043 |
System Integration And Consulting Services [Member] | US | ||
Disclosure of major customers [line items] | ||
Revenues | 115,145 | 105,722 |
System Integration And Consulting Services [Member] | International | ||
Disclosure of major customers [line items] | ||
Revenues | 18,263 | 13,343 |
Payrolling Services [Member] | ||
Disclosure of major customers [line items] | ||
Revenues | 62,097 | 49,309 |
Payrolling Services [Member] | CANADA | ||
Disclosure of major customers [line items] | ||
Revenues | 34,062 | 34,802 |
Payrolling Services [Member] | US | ||
Disclosure of major customers [line items] | ||
Revenues | 25,834 | 14,098 |
Payrolling Services [Member] | International | ||
Disclosure of major customers [line items] | ||
Revenues | 2,201 | 409 |
Software Revenue [Member] | ||
Disclosure of major customers [line items] | ||
Revenues | 62,654 | 29,468 |
Software Revenue [Member] | CANADA | ||
Disclosure of major customers [line items] | ||
Revenues | 13,745 | 9,769 |
Software Revenue [Member] | US | ||
Disclosure of major customers [line items] | ||
Revenues | 48,904 | 19,699 |
Software Revenue [Member] | International | ||
Disclosure of major customers [line items] | ||
Revenues | $ 5 | $ 0 |
Segment and Geographical Info_7
Segment and Geographical Information - Additional Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of major customers [line items] | ||
Revenues | $ 522,701 | $ 437,885 |
One customer | Revenues | ||
Disclosure of major customers [line items] | ||
Revenue percentage | 10% | |
Customers [member] | Revenues | ||
Disclosure of major customers [line items] | ||
Revenue percentage | 10% | |
Revenues | One customer | ||
Disclosure of major customers [line items] | ||
Revenues | $ 109,743 | 63,391 |
Accounts Receivable And Other Receivables [Member] | One customer | ||
Disclosure of major customers [line items] | ||
Revenues | $ 10,777 | $ 19,771 |
Revenue percentage | 11.70% | 19.60% |
Revenue from contracts with c_2
Revenue from contracts with customers (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Remaining Performance Obligations [Abstract] | ||
Transaction price allocated to remaining performance obligations | $ 30,989 | $ 42,337 |
Weighted Average Duration Of Revenue Recognised from Transaction Price Allocated To Remaining Performance Obligations | 1 year 7 months 6 days | 1 year 3 months 18 days |
Financial Instruments - Schedul
Financial Instruments - Schedule of Interest Rate Risk Profile of Borrowings (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Other long-term debt | $ 0 | $ 120 |
Borrowings | 127,190 | 106,676 |
Senior Secured Revolving Credit Facility [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Line of credit | 82,512 | 66,631 |
Secured loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Line of credit | 13,192 | 8,596 |
Interest Rate Risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | $ 95,704 | $ 75,347 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) $ in Thousands | 12 Months Ended | ||||
Mar. 31, 2023 CAD ($) | Mar. 31, 2022 CAD ($) | Oct. 27, 2022 CAD ($) | Oct. 27, 2022 USD ($) | Aug. 30, 2022 CAD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||||
Unused Capacity on Facility | $ 37,449,000 | $ 58,369,000 | |||
Maximum amount available | $ 2,705,000 | $ 2,000 | |||
Percentage change in interest rate on variable rate borrowings | 0.10% | ||||
Risk-Adjusted Discount Rate, Contingent Consideration | 4.40% | ||||
Nominal amount of hedging instrument | 30,000,000 | ||||
Contingent Consideration, Milestone, Percentage of Projected Cash Flows | 10% | ||||
Increase (decrease) in contingent consideration asset (liability) | $ 9,157,000 | 0 | |||
Interest rate | 397% | ||||
Reasonably Increase In Interest Rates Of Borrowings | 1% | ||||
Reasonably Decrease In Interest Rates Of Borrowings | 1% | ||||
Period, Interest BA/CDOR Rate | 1 month | ||||
Forecast | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Increase (decrease) in contingent consideration asset (liability) | $ 5,192,000 | ||||
LIBOR Advances | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Maximum amount available | $ 125,000,000 | $ 125,000,000 |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amount and Contractual Maturities of Financial Liabilities (Details) - CAD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | $ 127,697,000 | $ 105,753,000 |
Liquidity risk | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 208,515,000 | 180,643,000 |
Financial liabilities | 221,788,000 | 192,699,000 |
Liquidity risk | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 78,536,000 | 79,629,000 |
Liquidity risk | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 106,909,000 | 11,635,000 |
Liquidity risk | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 32,805,000 | 96,206,000 |
Liquidity risk | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 3,538,000 | 5,229,000 |
Liquidity risk | Senior Secured Revolving Credit Facility [Member] | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 82,512,000 | 66,631,000 |
Financial liabilities | 88,436,000 | 70,775,000 |
Liquidity risk | Senior Secured Revolving Credit Facility [Member] | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 5,924,000 | 2,072,000 |
Liquidity risk | Senior Secured Revolving Credit Facility [Member] | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 82,512,000 | 2,072,000 |
Liquidity risk | Senior Secured Revolving Credit Facility [Member] | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 66,631,000 |
Liquidity risk | Senior Secured Revolving Credit Facility [Member] | 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] | ||
Financial liabilities, at fair value | 13,192,000 | 8,596,000 |
Financial liabilities | 14,226,000 | 9,060,000 |
Liquidity risk | Secured loans | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 9,398,000 | 4,988,000 |
Liquidity risk | Secured loans | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,828,000 | 4,072,000 |
Liquidity risk | Secured loans | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Secured loans | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Subordinated unsecured loan | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 20,000,000 | 17,500,000 |
Financial liabilities | 23,275,000 | 21,773,000 |
Liquidity risk | Subordinated unsecured loan | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 1,310,000 | 1,221,000 |
Liquidity risk | Subordinated unsecured loan | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 1,310,000 | 1,221,000 |
Liquidity risk | Subordinated unsecured loan | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 20,655,000 | 19,331,000 |
Liquidity risk | Subordinated unsecured loan | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Purchase Payable Non Interest Bearing [Member] | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 11,993,000 | 13,026,000 |
Financial liabilities | 12,642,000 | 13,419,000 |
Liquidity risk | Purchase Payable Non Interest Bearing [Member] | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,214,000 | 13,419,000 |
Liquidity risk | Purchase Payable Non Interest Bearing [Member] | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,214,000 | 0 |
Liquidity risk | Purchase Payable Non Interest Bearing [Member] | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,214,000 | 0 |
Liquidity risk | Purchase Payable Non Interest Bearing [Member] | 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] | ||
Financial liabilities, at fair value | 120,000 | |
Financial liabilities | 120,000 | |
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 | |
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 | |
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 | |
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 | |
Liquidity risk | Lease liabilities [member] | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 18,516,000 | 21,263,000 |
Financial liabilities | 20,499,000 | 24,045,000 |
Liquidity risk | Lease liabilities [member] | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 4,545,000 | 4,302,000 |
Liquidity risk | Lease liabilities [member] | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 5,219,000 | 4,270,000 |
Liquidity risk | Lease liabilities [member] | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 7,197,000 | 10,244,000 |
Liquidity risk | Lease liabilities [member] | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 3,538,000 | 5,229,000 |
Liquidity risk | Trade Payable | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 53,145,000 | 53,507,000 |
Financial liabilities | 53,145,000 | 53,507,000 |
Liquidity risk | Trade Payable | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 53,145,000 | 53,507,000 |
Liquidity risk | Trade Payable | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Trade Payable | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Liquidity risk | Trade Payable | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | $ 0 |
Liquidity risk | Contingent consideration [member] | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities, at fair value | 9,157,000 | |
Financial liabilities | 9,565,000 | |
Liquidity risk | Contingent consideration [member] | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | |
Liquidity risk | Contingent consideration [member] | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 8,826,000 | |
Liquidity risk | Contingent consideration [member] | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 739,000 | |
Liquidity risk | Contingent consideration [member] | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | $ 0 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Exposure to Credit Risk (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | $ 90,007 | $ 98,289 |
Current1 [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 65,682 | 70,039 |
Zero to Thirty Days [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 19,544 | 21,600 |
31 to 60 Days [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 1,690 | 3,072 |
61 to 90 Days [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | 852 | 1,071 |
Over 90 Days [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Trade and other receivables | $ 2,239 | $ 2,507 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Quantitative Data About Exposure to Currency Risk (Details) - Currency risk - USD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | $ 2,866 | $ 137 |
Accounts Payable And Accrued Liabilities1 [Member] | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 1,449 | 1,599 |
Senior Secured Revolving Credit Facility [Member] | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 759 | 0 |
Contingent consideration [member] | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 2,120 | 0 |
Purchase Payable Non Interest Bearing [Member] | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 2,525 | 0 |
Cash1 [Member] | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 3,662 | 1,428 |
Accounts Receivable And Other Receivables [Member] | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | $ 325 | $ 34 |
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, 2023 | Mar. 31, 2022 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Change in exchange rate to foreign currencies | 13% | 7% |
USD | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Profit or loss strengthening | $ (278) | $ (26) |
Profit or loss weakening | $ 278 | $ 26 |
Financial Instruments - Carryin
Financial Instruments - Carrying Amount of Financing Liabilities (Details) - CAD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | $ 127,697,000 | $ 105,753,000 |
Unsecured bank loans received | 19,038,000 | 16,982,000 |
Liquidity risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 208,515,000 | 180,643,000 |
Liquidity risk | Senior secured revolving credit facility (the "Credit Facility") | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 82,512,000 | 66,631,000 |
Liquidity risk | Secured loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 13,192,000 | 8,596,000 |
Liquidity risk | Subordinated unsecured loan | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 20,000,000 | 17,500,000 |
Liquidity risk | Purchase Payable Non Interest Bearing [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | $ 11,993,000 | $ 13,026,000 |
Capital Disclosures - Summary o
Capital Disclosures - Summary of Total Capital (Details) - CAD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure Of Capital Disclosures [Abstract] | ||
Cash | $ (22,583) | $ (17,655) |
Restricted cash | 0 | (3,254) |
Current portion of long-term debt | 12,808 | 19,316 |
Long-term debt | 114,382 | 87,360 |
Share capital | 311,967 | 305,222 |
Deficit | (141,481) | (111,654) |
Accumulated other comprehensive income (loss) | 4,610 | (947) |
Contributed surplus | 11,972 | 7,130 |
Capital | 300,832 | 285,518 |
Contingent consideration recognised as of acquisition date | $ 9,157 | $ 0 |
Uncategorized Items - _IXDS
Label | Element | Value |
Lease liabilities | ifrs-full_LeaseLiabilities | $ 15,459,000 |
Lease liabilities | ifrs-full_LeaseLiabilities | $ 21,263,000 |