The company reported quarterly revenue of 113.8 million Canadian dollars, a 9.2% drop that landed well below the 119 million Canadian dollars anticipated by analysts. While the U.S. segment managed a modest 2.6% revenue increase, the Canadian business faltered with a nearly 25% contraction. Alithya attributed this regional slump to the conclusion of major client projects, a reduction in enterprise transformation services, and diminished government contract billings.

This top-line pressure swung the company into a quarterly loss of 8.7 million Canadian dollars, or 0.09 Canadian dollars per share. This performance stands in stark contrast to the 8 million Canadian dollar profit, or 0.08 per share, recorded in the same period last year. Investors had expected a modest profit of 0.02 per share, making the earnings miss particularly jarring. Even on an adjusted basis, earnings slipped to 0.08 per share from 0.12 per share a year ago.