Montreal, Quebec — February 13, 2026 — Leads & Copy — Alithya Group inc. (TSX: ALYA) reported its third-quarter fiscal 2026 results, showing $130.9 million in new bookings and a strong cash position as it shifts toward higher-value, complex transformation projects.
The company’s Q3 2026 highlights include revenues decreasing 0.5% to $115.2 million, compared to $115.8 million for the same quarter last year, with 82.2% of revenues generated from existing clients.
Gross margin decreased 2.4% to $36.5 million, compared to $37.4 million for the same quarter last year. Gross Margin as a Percentage of Revenues decreased to 31.7%, compared to 32.3% for the same quarter last year.
Net earnings increased to $0.7 million, or $0.01 per share, compared to a loss of $3.7 million, or a loss of $0.04 per share, for the same quarter last year.
Adjusted Net Earnings decreased by $0.6 million, or 11.6%, to $5.1 million, from $5.7 million for the same quarter last year. This translated into Adjusted Net Earnings per Share of $0.05, compared to $0.06 for the same quarter last year.
Adjusted EBITDA decreased by $0.3 million, or 2.9%, to $10.0 million, for an Adjusted EBITDA Margin of 8.7% of revenues, compared to $10.3 million, for an Adjusted EBITDA Margin of 8.9% of revenues, for the same quarter last year.
Net cash from operating activities was $25.5 million, representing an increase of $13.8 million, compared to $11.7 million for the same quarter last year.
Q3 Bookings reached $130.9 million, which translated into a Book-to-Bill Ratio of 1.14 for the quarter, compared to Bookings of $138.4 million and a Book-to-Bill Ratio of 1.20 for the same quarter last year. Backlog represented approximately 14 months of trailing twelve-month revenues as at December 31, 2025.
Revenues amounted to $115.2 million for the three months ended December 31, 2025, representing a decrease of $0.6 million, or 0.5%, from $115.8 million for the three months ended December 31, 2024.
U.S. revenues increased by $6.2 million, or 12.7%, to $55.0 million for the three months ended December 31, 2025, from $48.8 million for the three months ended December 31, 2024, due primarily to revenues from the acquisition of eVerge Interests, Inc. and its subsidiaries on May 31, 2025 and organic growth in enterprise transformation services, partially offset by an unfavorable US$ exchange rate impact of $0.2 million between the two periods.
Revenues in Canada decreased by $7.7 million, or 12.5%, to $54.0 million for the three months ended December 31, 2025, from $61.7 million for the three months ended December 31, 2024. The decrease in revenues was due primarily to reduced revenues from government contracts and certain client projects reaching maturity, partially offset by revenues from the acquisition of XRM Vision Inc. and its subsidiaries on December 1, 2024.
International revenues increased by $1.0 million, or 19.2%, to $6.2 million for the three months ended December 31, 2025, from $5.2 million for the three months ended December 31, 2024. The increase in revenues was primarily due to organic growth in enterprise transformation services and a favorable foreign exchange rate impact of $0.5 million between the two periods.
During the quarter, 22 new clients were signed.
Gross margin decreased by $0.9 million, or 2.4%, to $36.5 million for the three months ended December 31, 2025, from $37.4 million for the three months ended December 31, 2024. Gross margin as a percentage of revenues decreased to 31.7% for the three months ended December 31, 2025, from 32.3% for the three months ended December 31, 2024.
Selling, general and administrative expenses totaled $28.5 million for the three months ended December 31, 2025, representing a decrease of $0.3 million, or 1.0%, from $28.8 million for the three months ended December 31, 2024, despite including an increase of $2.6 million of expenses related to XRM Vision and eVerge. Selling, general and administrative expenses as a percentage of revenues amounted to 24.7% for the three months ended December 31, 2025, compared to 24.9% for the same period last year.
Net earnings for the three months ended December 31, 2025 were $0.7 million, representing an increase of $4.4 million, from a net loss of $3.7 million for the three months ended December 31, 2024. On a per share basis, this translated into basic and diluted earnings per share of $0.01 for the three months ended December 31, 2025, compared to a loss of $0.04 per share for the three months ended December 31, 2024.
Adjusted Net Earnings amounted to $5.1 million for the three months ended December 31, 2025, representing a decrease of $0.6 million, or 11.6%, from $5.7 million for the three months ended December 31, 2024. This translated into Adjusted Net Earnings per Share of $0.05 for the three months ended December 31, 2025, compared to $0.06 for the three months ended December 31, 2024.
Adjusted EBITDA amounted to $10.0 million for the three months ended December 31, 2025, representing a decrease of $0.3 million, or 2.9%, from $10.3 million for the three months ended December 31, 2024. Adjusted EBITDA Margin was 8.7% for the three months ended December 31, 2025, compared to 8.9% for the three months ended December 31, 2024.
Bookings amounted to $130.9 million, which translated into a Book-to-Bill Ratio of 1.14 for the quarter, compared to $138.4 million, which translated into a Book-to-Bill Ratio of 1.20, for the same quarter last year. Bookings for the trailing twelve months amounted to $440.0 million as at December 31, 2025, which translated into a Book-to-Bill ratio of 0.90.
Alithya also entered into a binding agreement with Medivra Holdings LLC for the acquisition of Datum Consulting Group, LLC and its affiliates. In connection with the Datum Transaction, Alithya also announced that it has entered into a private agreement with Mr. Bukkasagaram for the repurchase for cancellation of 2,489,682 Class A subordinate voting shares of Alithya.
Alithya will hold a conference call on February 13, 2026, at 9:00 a.m. Eastern Time to discuss these results.
“I am proud of the team’s continued discipline in executing our long-term strategy. While our third quarter was slower compared to the same period last year, we are reporting healthy bookings and building momentum in strategic areas. Also, our strong cash position gives us the flexibility to pursue growth opportunities and allocate capital where it drives value for our shareholders,” said Paul Raymond, President and CEO, Alithya.
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Note to readers: Management’s Discussion and Analysis and the interim condensed consolidated financial statements and notes for the three and nine months ended December 31, 2025 are available on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov and on the Company’s website at www.alithya.com.
Shareholders may, upon request, receive a hard copy of these documents free of charge.
Source: Alithya Group inc.
