Cover
Cover | 12 Months Ended |
Mar. 31, 2021shares | |
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, 2021 |
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 |
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 | 51,373,822 |
Class B Shares | |
Entity Addresses [Line Items] | |
Entity Common Stock, Shares Outstanding | 7,321,616 |
Consolidated Statements of Oper
Consolidated Statements of Operations - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Profit or loss [abstract] | ||
Revenue | $ 287,643 | $ 279,007 |
Cost of sales | 204,626 | 196,033 |
Gross profit | 83,017 | 82,974 |
Operating Cost [Abstract] | ||
Selling, general and administrative expense | 81,723 | 76,782 |
Business Acquisition And Integration Costs | 2,321 | 4,637 |
Depreciation expense | 3,767 | 3,368 |
Amortisation, intangible assets other than goodwill | 11,739 | 11,278 |
Foreign exchange gain (loss) | 473 | (161) |
Impairment of intangibles and goodwill | 0 | 28,036 |
Operating expense | 100,023 | 123,940 |
Profit (loss) from operating activities | (17,006) | (40,966) |
Finance costs | 3,274 | 2,347 |
Gain on recovery of note receivable | (660) | 0 |
Gains (losses) recognised when control of subsidiary is lost | 0 | (681) |
Profit (loss) before tax | (19,620) | (42,632) |
Current and deferred tax relating to items charged or credited directly to equity [abstract] | ||
Current tax relating to items credited (charged) directly to equity | 1,515 | 237 |
Deferred tax relating to items credited (charged) directly to equity | (3,797) | (3,202) |
Total tax expense (income) | (2,282) | (2,965) |
Net loss | $ (17,338) | $ (39,667) |
Basic and diluted loss per share (in CAD per share) | $ (0.30) | $ (0.70) |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Current assets | ||
Cash | $ 6,903 | $ 8,810 |
Accounts receivable and other receivables | 69,363 | 67,662 |
Unbilled revenue | 9,924 | 8,015 |
Tax credits receivable | 642 | 2,154 |
Tax credits receivable | 4,936 | 5,889 |
Prepaids | 3,923 | 3,195 |
Total current assets | 95,691 | 95,725 |
Non-current assets | ||
Restricted cash | 3,233 | 2,212 |
Income taxes receivable | 0 | 136 |
Tax credits receivable | 7,809 | 7,015 |
Property and equipment | 8,449 | 7,172 |
Right-of-use assets | 11,118 | 11,492 |
Intangibles | 36,590 | 51,804 |
Deferred tax assets | 7,465 | 4,652 |
Goodwill | 72,906 | 77,608 |
Total assets | 243,261 | 257,816 |
Current liabilities | ||
Accounts payable and accrued liabilities | 51,571 | 50,327 |
Deferred revenue | 10,288 | 9,602 |
Current portion of lease liabilities | 1,923 | 1,559 |
Current portion of long-term debt | 35,134 | 1,143 |
Total current liabilities | 98,916 | 62,631 |
Non-current liabilities | ||
Long-term debt | 19,817 | 52,086 |
Lease liabilities | 13,536 | 11,673 |
Deferred tax liabilities | 2,980 | 4,057 |
Total liabilities | 135,249 | 130,447 |
Shareholders' equity | ||
Share capital | 197,537 | 195,335 |
Deficit | (96,190) | (78,780) |
Accumulated other comprehensive (loss) income | (508) | 6,123 |
Contributed surplus | 7,173 | 4,691 |
Shareholders' equity | 108,012 | 127,369 |
Equity and liabilities | $ 243,261 | $ 257,816 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity | CAD ($)shares | Matricis Informatique Inc.CAD ($)shares | Alithya Travercent LLCCAD ($)shares | Askida Inc.CAD ($)shares | Subordinate Voting SharesCAD ($)shares | Subordinate Voting SharesMatricis Informatique Inc.CAD ($)shares | Subordinate Voting SharesAlithya Travercent LLCCAD ($)shares | Subordinate Voting SharesAskida Inc.CAD ($)shares | Subordinate Voting Shares and Multiple Voting Sharesshares | Share CapitalCAD ($) | Share CapitalMatricis Informatique Inc.CAD ($) | Share CapitalAlithya Travercent LLCCAD ($) | Share CapitalAskida Inc.CAD ($) | Share CapitalClass A SharesCAD ($) | Share CapitalSubordinate Voting SharesCAD ($)shares | Share CapitalSubordinate Voting SharesMatricis Informatique Inc.CAD ($)shares | Share CapitalSubordinate Voting SharesAlithya Travercent LLCCAD ($)shares | Share CapitalSubordinate Voting SharesAskida Inc.CAD ($)shares | Share CapitalMultiple Voting SharesCAD ($)shares | Share CapitalSubordinate Voting Shares and Multiple Voting SharesCAD ($) | DeficitCAD ($) | Accumulated Other Comprehensive Income (loss)CAD ($) | Contributed SurplusCAD ($) | Contributed SurplusSubordinate Voting SharesCAD ($) | Contributed SurplusSubordinate Voting Shares and Multiple Voting SharesCAD ($) | Shares outstandingshares |
Balance at Mar. 31, 2019 | $ 151,456,000 | $ 186,861,000 | $ (39,113,000) | $ 1,469,000 | $ 2,239,000 | |||||||||||||||||||||
Balance (in shares) at Mar. 31, 2019 | shares | 55,665,476 | 48,496,492 | 7,168,984 | |||||||||||||||||||||||
Profit (loss) | $ (39,667,000) | (39,667,000) | ||||||||||||||||||||||||
Other comprehensive loss | 4,654,000 | 4,654,000 | ||||||||||||||||||||||||
Comprehensive loss | (35,013,000) | (39,667,000) | 4,654,000 | |||||||||||||||||||||||
Share-based compensation | $ 1,050,000 | 1,050,000 | ||||||||||||||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 53,987 | |||||||||||||||||||||||||
Issuance of Class shares | $ 201,000 | $ 201,000 | ||||||||||||||||||||||||
Issuance of Class shares (in shares) | shares | 53,987 | |||||||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 165,000 | $ 201,000 | $ (36,000) | |||||||||||||||||||||||
Share-based compensation on shares vested during the year, issued on business acquisitions | $ 1,868,000 | 407,000 | 407,000 | 1,461,000 | ||||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ 23,000 | $ 23,000 | (23,000) | |||||||||||||||||||||||
Repurchase of equity interests issued on business acquisition | 0 | |||||||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 5,514 | 5,514 | ||||||||||||||||||||||||
Issuance of shares on business acquisition | $ 1,800,000 | $ 3,870,000 | $ 2,173,000 | $ 1,800,000 | $ 3,870,000 | $ 2,172,500 | $ 1,800,000 | $ 3,870,000 | $ 2,173,000 | $ 1,800,000 | $ 3,870,000 | $ 2,173,000 | ||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 473,646 | 1,274,510 | 600,384 | 473,646 | 1,274,510 | 600,384 | 473,646 | 1,274,510 | 600,384 | |||||||||||||||||
Total contributions by, and distributions to, shareholders | $ (10,926,000) | (8,474,000) | (2,452,000) | |||||||||||||||||||||||
Total contributions by, and distributions to, shareholders (in shares) | shares | 2,408,041 | |||||||||||||||||||||||||
Balance at Mar. 31, 2020 | $ 127,369,000 | 195,335,000 | (78,780,000) | 6,123,000 | 4,691,000 | |||||||||||||||||||||
Balance (in shares) at Mar. 31, 2020 | shares | 58,073,517 | 50,904,533 | 7,168,984 | |||||||||||||||||||||||
Profit (loss) | $ (17,338,000) | (17,338,000) | ||||||||||||||||||||||||
Other comprehensive loss | (6,631,000) | (6,631,000) | ||||||||||||||||||||||||
Comprehensive loss | (23,969,000) | (17,338,000) | (6,631,000) | |||||||||||||||||||||||
Share-based compensation | 1,537,000 | 1,537,000 | ||||||||||||||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 156,132 | |||||||||||||||||||||||||
Issuance of Class shares | $ 484,000 | |||||||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 300,000 | $ 14,000 | $ 470,000 | (184,000) | $ (184,000) | |||||||||||||||||||||
Share-based compensation on shares vested during the year, issued on business acquisitions (in shares) | shares | 458,071 | |||||||||||||||||||||||||
Share-based compensation on shares vested during the year, issued on business acquisitions | 4,051,000 | 1,686,000 | 1,686,000 | 2,365,000 | ||||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ 32,085 | $ 32,000 | $ (32,000) | |||||||||||||||||||||||
Repurchase of equity interests issued on business acquisition | (1,276,000) | (72,000) | (1,204,000) | |||||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 7,718 | 7,718 | ||||||||||||||||||||||||
Issuance of shares on business acquisition | $ 600,000 | $ 1,086,250 | ||||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 157,882 | 300,189 | ||||||||||||||||||||||||
Total contributions by, and distributions to, shareholders | $ (4,612,000) | (2,202,000) | (72,000) | (2,482,000) | ||||||||||||||||||||||
Total contributions by, and distributions to, shareholders (in shares) | shares | 621,921 | |||||||||||||||||||||||||
Balance at Mar. 31, 2021 | $ 108,012,000 | $ 197,537,000 | $ (96,190,000) | $ (508,000) | $ 7,173,000 | |||||||||||||||||||||
Balance (in shares) at Mar. 31, 2021 | shares | 58,695,438 | 51,373,822 | 7,321,616 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of comprehensive income [abstract] | ||
Profit (loss) | $ (17,338) | $ (39,667) |
Items that may be classified subsequently to profit or loss | ||
Cumulative translation adjustment on consolidation of foreign subsidiaries | (6,631) | 4,654 |
Other comprehensive income | (6,631) | 4,654 |
Comprehensive loss | $ (23,969) | $ (35,013) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating activities | ||
Profit (loss) | $ (17,338) | $ (39,667) |
Items not affecting cash | ||
Depreciation and amortization | 15,506 | 14,646 |
Amortization of finance costs | 242 | 231 |
Share-based compensation | 5,588 | 2,918 |
Unrealized foreign exchange loss | 1,291 | 273 |
Foreign exchange loss (gain) on repayment of long-term debt | (879) | 81 |
Forgiveness of PPP loan | (1,898) | 0 |
Interest accretion on balances of purchase payable | 835 | 318 |
Loss on disposal of property and equipment | 218 | 0 |
Other | (138) | 0 |
Gain on sale of subsidiary | 0 | (681) |
Impairment of intangibles and goodwill | 0 | 28,036 |
Deferred taxes | (3,797) | (3,202) |
Changes in non-cash working capital items | (86) | 5,739 |
Adjustments to reconcile profit (loss) | 16,882 | 48,359 |
Net cash (used in) from operating activities | (456) | 8,692 |
Investing activities | ||
Additions to property and equipment | (2,104) | (4,488) |
Additions to intangibles | (166) | (49) |
Short-term deposits | 0 | 1,324 |
Restricted cash | (1,021) | 47 |
Repurchase of equity interests issued on business acquisition | (1,276) | 0 |
Business acquisitions and divestiture, net of cash acquired | 0 | (15,166) |
Right-of-use assets | 0 | 222 |
Net cash used in investing activities | (4,567) | (18,204) |
Financing activities | ||
Line of credit and demand loan drawn (repaid) | 0 | (3,153) |
Increase in long-term debt, net of related transaction costs | 53,471 | 64,093 |
Repayment of long-term debt | (49,867) | (54,409) |
Exercise of stock options | 300 | 165 |
Repayment of lease liabilities | (1,397) | (1,754) |
Lease incentives | 917 | 0 |
Net cash from financing activities | 3,424 | 4,942 |
Effect of exchange rate changes | (308) | 579 |
Net change in cash | (1,907) | (3,991) |
Cash, beginning of year | 8,810 | 12,801 |
Cash, end of year | 6,903 | 8,810 |
Interest paid | 1,831 | 1,562 |
Income taxes paid | $ 574 | $ 420 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PREPARATION Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were approved and authorized for issue by the Board of Directors (the “Board”) on June 9, 2021. Basis of Measurement and Comparative Figures These consolidated financial statements have been prepared on an accrual basis and under the historical cost basis except for certain assets and liabilities initially recognized in connection with business combinations. Certain figures have been reclassified to conform to the current year presentation. PRINCIPLES OF CONSOLIDATION Subsidiaries Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed or has the right to variable returns from its relationship with the entity and is able to affect those returns through its power over the activities of the entity. The subsidiaries’ financial statements are included in these consolidated financial statements from the date of commencement of control until the date that control ceases. Subsidiaries’ accounting policies have been adjusted, when necessary, to align with the policies adopted by the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) All intercompany balances and transactions, and any unrealized income and expenses arising from intra-company transactions, are eliminated on consolidation. These consolidated financial statements include the accounts of the Company and the accounts of its wholly-owned subsidiaries. All subsidiaries have a reporting date of March 31. The Company’s principal subsidiaries are as follows: 2021 2020 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% Alithya Digital Technology Corporation Ontario, Canada 100% 100% Alithya France SAS (formerly Alithya Consulting SAS) France 100% 100% Alithya USA, Inc. Delaware, USA 100% 100% Alithya Financial Solutions, Inc. Delaware, USA 100% 100% Alithya Ranzal LLC Delaware, USA 100% 100% Alithya Zero2Ten, Inc. Delaware, USA 100% 100% Alithya Fullscope Solutions, Inc. Delaware, USA 100% 100% Matricis Informatique Inc. Quebec, Canada 100% 100% Alithya Travercent LLC Texas, USA 100% 100% Alithya Askida Consulting Services Inc. Quebec, Canada 100% 100% Alithya Askida Solutions Inc. Quebec, Canada 100% 100% Pro2p Services Conseils Inc. Canada 100% 100% Alithya Solutions Canada Inc. Canada 100% 100% BUSINESS COMBINATIONS The Group accounts for its business combinations using the acquisition method. Under this method the consideration transferred is measured at fair value. Acquisition-related and integration costs associated with the business combination are expensed as incurred. The Group recognizes goodwill as the excess of the cost of the acquisition over the net identifiable tangible and intangible assets acquired and liabilities assumed at their acquisition date fair values and any non-controlling interest in the acquiree. The fair value allocated to tangible and intangible assets acquired and liabilities assumed are based on management’s assumptions, including assumptions that would be made by market participants, acting in their economic best interest. These assumptions include the future expected cash flows arising from the intangible assets identified. The goodwill recognized is composed of the future economic value associated to acquired work force and any identified synergies with the Group’s operations which are primarily due to reduction of costs and new business opportunities. The determination of fair value involves making estimates relating to acquired intangible assets, property and equipment, litigation, provision for estimated losses on revenue-generating contracts, other onerous contracts, tax and other contingency reserves. Estimates include the forecasting of future cash flows and discount rates. Subsequent changes in fair values are adjusted against the cost of acquisition, if they qualify as measurement period adjustments. The measurement period is the period between the date of acquisition and the date where all significant information necessary to determine the fair values is available, not to exceed 12 months. All other subsequent changes are recognized in the consolidated statements of operations. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) TRANSLATION OF FOREIGN CURRENCIES The Group’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. Each entity in the group determines its own functional currency and items included in the consolidated financial statements of each entity are measured using that functional currency. Functional currency is the currency of the primary economic environment in which the entity operates. Foreign currency transactions and balances Revenue, expenses and non-monetary assets and liabilities denominated in foreign currencies are recorded at the rate of exchange prevailing at the transaction date, except for non-monetary items measured at fair value, which are translated using the exchange rates at the date when the fair value was determined. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates prevailing at the reporting date. Unrealized and realized translation gains and losses, resulting from the settlement of such transactions and from the remeasurement of monetary items denominated in foreign currency, are reflected in the consolidated statements of operations. Foreign operations In the Group’s consolidated financial statements, all assets, liabilities and transactions of Group entities with a functional currency other than the Canadian dollar are translated into Canadian dollars upon consolidation. The functional currencies of entities within the Group have remained unchanged during the reporting period. Upon consolidation, assets and liabilities have been translated into Canadian dollars at the closing rate at the reporting date. Goodwill and fair value adjustments arising from the acquisition of a foreign entity have been treated as assets and liabilities of the foreign entity and translated into Canadian dollars at the closing rate. Revenue and expenses have been translated into Canadian dollars at the average rate over the reporting period. Exchange differences are charged or credited to other comprehensive income and recognized in the currency translation reserve in equity. On disposal of a foreign operation, the related cumulative translation differences recognized in equity are reclassified to the consolidated statements of operations and are recognized as part of the gain or loss on disposal. SEGMENTED REPORTING An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to the transactions with any of the Group’s other segments. Based on the information received and analyzed by the decision-makers on a regular basis, the Group has determined that it has one reportable segment. REVENUE RECOGNITION, UNBILLED REVENUE AND DEFERRED REVENUE 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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 stand-alone 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. The Group recognizes contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as other liabilities in the statement of financial position. Similarly, if the Group satisfies a performance obligation before it receives the consideration, the Group recognizes either a contract asset 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. Time and materials arrangements - Revenue from consulting services and systems implementations under time and materials arrangements is recognized as the services are rendered. Fixed-fee arrangements - Revenue from consulting services and systems implementations under fixed-fee arrangements where the outcome of the arrangements can be estimated reliably is recognized using the percentage-of-completion method over the service periods. 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. Unbilled revenue and deferred revenue - Amounts recognized as revenue in excess of billings are classified as unbilled revenue. Amounts received in advance of the performance of services are classified as deferred revenue. Retainer 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 (using an hours-based input method). Revenue recognition over time is based on customer simultaneously receiving and consuming the benefit of the services provided. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Estimated losses on revenue-generating contracts - Estimated losses on revenue-generating contracts may occur due to additional contract costs which were not foreseen at the inception of the contract. Contract losses are measured at the amount by which the estimated total costs 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 in accounts payable and accrued liabilities. Management regularly reviews arrangement profitability and underlying estimates. Software revenue - Software revenue is generated from the resale of certain third-party off-the-shelf software and maintenance. The majority of the software sold by the Group is delivered electronically. For software that is delivered electronically, the Group considers transfer of control to have occurred when the customer either (a) takes possession of the software via a download (that is, when the customer takes possession of the electronic data on its hardware), or (b) has been provided with access codes that allow the customer to take immediate possession of the software on its hardware pursuant to an agreement or purchase order for the software. In all instances, the resale of third-party software and maintenance is recorded on a net basis. Group created software, and the associated maintenance, is reported on a gross basis, however it is immaterial in all periods presented. Third party software and maintenance revenue are recognized upon delivery of the software, as all related warranty and maintenance is performed by the primary software vendor and not the Group. 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 established standalone selling prices for consulting services based on a stated and consistent rate per hour range in standalone transactions. The Group has established standalone selling prices for software through consistent stated rates for software components. The Group has established standalone selling prices for maintenance based on observable prices for standalone renewals. 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). In the years presented, the Company does not have any financial assets categorized as FVOCI or FVTPL. 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 presented within financial expense, except for impairment of accounts receivables and other receivables, which is presented within selling, general and administrative expenses. Subsequent measurement of financial assets Financial assets at amortized cost Financial assets are measured at amortized cost if the assets meet the following conditions (and are not designated as FVTPL): • they are held within a business model whose objective is to hold the financial assets and collect its contractual cash flows; and • the contractual terms of the financial assets give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding. After initial recognition, these are measured at amortized cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. The Group’s cash, restricted cash and accounts receivable and other receivables fall into this category of financial instruments. Impairment of financial assets and unbilled revenues IFRS 9’s impairment requirements use forward-looking information to recognize expected credit losses – the ‘expected credit loss (ECL) model’. Instruments within the scope of IFRS 9’s impairment requirements included loans and other debt-type financial assets measured at amortized cost and FVOCI, accounts receivables and other receivables 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) The Group considers a range of information when assessing credit risk and measuring expected credit losses, including past events, current conditions, reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument. In applying this forward-looking approach, a distinction is made between: • financial instruments that have not deteriorated significantly in credit quality since initial recognition or that have low credit risk (‘Stage 1’) and • financial instruments that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low (‘Stage 2’). ‘Stage 3’ would cover financial assets that have objective evidence of impairment at the reporting date. ‘12-month expected credit losses’ are recognized for the first category while ‘lifetime expected credit losses’ are recognized for the second category. Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses over the expected life of the financial instrument. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. Accounts Receivable and Other Receivables and Unbilled Revenues The Group makes use of the simplified approach in accounting for accounts receivable and other receivables and unbilled revenues and records the loss allowance as lifetime expected credit losses. These are the expected shortfalls in contractual cash flows, considering the potential for default at any point during the life of the financial instrument. In calculating, the Group uses its historical experience, external indicators and forward-looking information to calculate the expected credit losses using a provision matrix. The Group assesses impairment of accounts receivables and other receivables on a collective basis as they possess shared credit risk characteristics. They have been grouped based on the days past due. Classification and measurement of financial liabilities The Group’s financial liabilities include trade accounts payable and accrued liabilities, lease liabilities and long-term debt. Financial liabilities are initially measured at fair value, and, where applicable, adjusted for transaction costs unless the Group designated a financial liability at fair value through profit or loss. Subsequently, financial liabilities are measured at amortized cost using the effective interest method and financial liabilities designated at FVTPL, which are carried subsequently at fair value with gains or losses recognized in profit or loss. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) All interest-related charges and, if applicable, changes in an instrument’s fair value are reported in the consolidated statements of operations within financial expenses. Transaction Costs Transaction costs related to loans and receivables and liabilities are considered as part of the carrying value of the asset or liability and are then amortized over the expected life of the instrument using the effective interest rate method. Financial Income and Expenses Financial income includes interest income on cash. Interest income is recognized as it accrues in earnings, using the effective interest method. Financial expenses include interest expense on borrowings, effective interest on non-interesting bearing vendor financing arising from business combinations, amortization of unwinding of the discount on provisions and other interest and bank charges. EARNINGS PER SHARE Basic earnings (loss) per share is calculated by dividing the net earnings (loss) attributable to the holders of Common Shares (as defined further herein) by the weighted average number of Common Shares outstanding during the period, including the effect of stock options exercised and deferred share units. The net earnings (loss) attributable to the holders of Common Shares corresponds to the net earnings (loss) adjusted by deducting earnings allocated to preferred shares. Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the weighted average number of additional Common Shares that would have been outstanding assuming the conversion of all dilutive potential equity instruments. Dilutive potential outstanding stock options include the total number of additional Common Shares that would have been issued by the Company assuming stock options with exercise prices below the average market price for the year were exercised and reduced by the number of shares that the Company could have repurchased if it had used the assumed proceeds from the exercise of stock options to repurchase them on the open market at the average share price for the period. “Common Shares” include the Subordinate Voting Shares and Multiple Voting Shares (as defined further herein). RESTRICTED CASH Restricted cash 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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 quantifying eligible expenses. These claims are subject to examination and audit by local authorities, who may disagree with interpretations made by the Group. Management estimates the amounts to be received or forgiven under these programs. Final settlements following examinations and audits could be different from amounts recorded and could have a material effect on the financial position or operating results of the Group. PROPERTY AND EQUIPMENT (“P&E”) Property and equipment are recorded at cost and amortized over their estimated useful lives, using the following methods: Method Rates Furniture, fixtures and equipment Declining balance 20 % Computer equipment Declining balance 30 % Leasehold improvements Straight line Over the term of the lease The residual value, depreciation method and useful life of each asset are reviewed at least once a year, at the reporting date. LEASES The Group as a lessee For any new contracts entered into the Group considers whether a contract is, or contains a lease. A lease is defined as a “contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration”. To apply this definition, the Group assesses whether the contract meets three key evaluations which are whether: • the contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the Group; • the Group has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract; and • the Group has the right to direct the use of the identified asset throughout the period of use. The Group assesses whether it has the right to direct “how and for what purpose” the asset is used throughout the period of use. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Measurement and recognition of leases as a lessee At lease commencement date, the Group recognizes a right-of-use asset and a lease liability on the statement of financial position. The right-of-use asset is measured at cost, which is made up of the initial measurement of the lease liability, any initial direct costs incurred by the Group, an estimate of any costs to dismantle and remove the asset at the end of the lease, and any lease payments made in advance of the lease commencement date (net of any incentives received). The Group depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The Group also assesses the right-of-use asset for impairment when such indicators exist. At the commencement date, the Group measures the lease liability at the present value of the lease payments unpaid at that date, discounted using the interest rate implicit in the lease if that rate is readily available or the Group’s incremental borrowing rate. Lease payments included in the measurement of the lease liability are made up of fixed payments (including in-substance fixed payments), variable payments based on an index or rate, amounts expected to be payable under a residual value guarantee and payments arising from options reasonably certain to be exercised. The Group has elected not to recognize separately non-lease components of leases for office space (buildings). Accordingly, lease payments and the lease liability include payments relating to lease and non-lease components. Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments. When the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset, or net loss if the right-of-use asset is already reduced to zero. The Group has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognizing a right-of-use asset and lease liability, the payments in relation to these are recognized as an expense in the consolidated statements of operations on a straight-line basis over the lease term. The Group as a lessor As a lessor, the Group classifies its leases as either operating or finance leases. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of the underlying asset, and classified as an operating lease if it does not. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) INTANGIBLES Intangible assets consist mainly of customer relationships, non-compete agreements, internal-use business solutions and 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, internal-use business solutions and software licenses acquired through business combinations are initially recorded at their fair value. The Group amortizes its intangible assets using the straight-line method over their estimated useful lives, 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 represents the excess of the cost of an acquisition over the fair value of the Group's share of the net identifiable assets of the acquired subsidiary at the date of acquisition and it is measured net of accumulated impairment losses. Goodwill is not amortized, but instead tested for impairment annually, or more frequently, should events or changes in circumstances indicate that the goodwill may be impaired. IMPAIRMENT OF P&E, RIGHT-OF-USE ASSETS, INTANGIBLES AND GOODWILL Timing of impairment testing The carrying amounts of the Group's P&E, right-of-use assets, intangible assets and goodwill are reviewed for impairment when events or changes in circumstances indicate that the carrying value may be impaired. At each reporting date, the Group assesses whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated. For goodwill, and intangible assets that have indefinite useful lives or that are not yet available for use, the impairment is tested at least annually, typically as at March 31. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Impairment testing The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs of disposal. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "cash-generating unit", or "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 earnings. Impairment losses recognized in respect of CGUs that include goodwill are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) 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. 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. |
Business Combinations, Divestit
Business Combinations, Divestiture and Private Placement | 12 Months Ended |
Mar. 31, 2020 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combinations, Divestiture and Private Placement | Divestiture of Zero2Ten EMEA Limited $ Consideration received in cash 565 Balance of sale receivable 728 Total consideration 1,293 Net assets divested 612 Gain on sale of subsidiary 681 |
Accounts Receivable and Other R
Accounts Receivable and Other Receivables | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | |
Accounts Receivable and Other Receivables | As at March 31, 2021 2020 $ $ Trade accounts receivable, net (a) 67,049 59,537 Trade accounts receivable from shareholders exercising significant influence — 6,718 Other receivables 2,314 1,407 69,363 67,662 (a) As at March 31, 2021, amounts owing from one client represented 16% of the total trade accounts receivable (one client represented 10% of the total trade accounts receivable as at March 31, 2020). |
Property and Equipment
Property and Equipment | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property and Equipment | PROPERTY AND EQUIPMENT As at March 31, 2021 March 31, 2020 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ Cost 2,333 3,190 5,611 11,134 1,435 2,800 1,844 6,079 Additions 553 1,195 1,682 3,430 1,313 886 3,724 5,923 Additions through business acquisitions — — — — 67 239 22 328 Disposals / retirements (1,150) (1,217) (1,106) (3,473) (490) (855) — (1,345) Foreign currency translation adjustment 2 (279) (38) (315) 8 120 21 149 Subtotal 1,738 2,889 6,149 10,776 2,333 3,190 5,611 11,134 Accumulated depreciation 699 1,752 1,511 3,962 866 1,874 1,000 3,740 Depreciation expense 381 765 715 1,861 226 543 509 1,278 Disposals / retirements (964) (1,188) (1,103) (3,255) (397) (762) — (1,159) Foreign currency translation adjustment (5) (229) (7) (241) 4 97 2 103 Subtotal 111 1,100 1,116 2,327 699 1,752 1,511 3,962 Net carrying amount 1,627 1,789 5,033 8,449 1,634 1,438 4,100 7,172 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 March 31, 2020 $ $ Beginning balance as at April 1, 2020 and 2019 11,492 6,509 Additions 2,611 7,262 Terminations — (381) Depreciation (1,906) (2,090) Reassessment (830) — Lease inducement allowance 28 3 Exchange rate effect (277) 189 Ending balance 11,118 11,492 As at March 31, 2021 March 31, 2020 $ $ Beginning balance as at April 1, 2020 and 2019 13,232 6,668 Additions 2,611 7,257 Terminations — (381) Lease payments (1,992) (2,129) Lease incentives 2,243 1,249 Lease interest 595 375 Reassessment (830) — Concession (110) — Exchange rate effect (290) 193 Ending balance 15,459 13,232 Current portion 1,923 1,559 13,536 11,673 As at March 31, 2021 $ Less than one year 2,482 One to two years 2,602 Two to five years 6,756 More than five years 6,026 Total undiscounted lease payments at period end 17,866 6. LEASES (CONT’D) Amounts recognized in net loss Year ended March 31, 2021 March 31, 2020 $ $ Interest on lease liabilities 595 375 Expenses relating to short-term leases — 122 Variable lease payments 2,487 1,134 3,082 1,631 |
Intangibles
Intangibles | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangibles | INTANGIBLES As at March 31, 2021 March 31, 2020 Customer relationships Software Non-compete agreements Total Customer Software Tradenames Non- Total $ $ $ $ $ $ $ $ $ Cost 73,722 4,377 7,530 85,629 55,823 1,355 12,604 316 70,098 Additions, purchased — 7 — 7 — 49 — — 49 Additions through business acquisitions — — — — 16,077 2,909 — 6,964 25,950 Additions, internally generated — 159 — 159 — — — — — Disposals / retirements (2,933) (29) (237) (3,199) — — — — — Foreign currency translation adjustment (3,069) (180) (391) (3,640) 1,822 64 732 250 2,868 Subtotal 67,720 4,334 6,902 78,956 73,722 4,377 13,336 7,530 98,965 Accumulated amortization 31,970 1,242 613 33,825 21,837 644 — 66 22,547 Amortization 8,996 1,258 1,485 11,739 10,133 598 — 547 11,278 Impairment loss — — — — — — 13,336 — 13,336 Disposals / retirements (2,933) (29) (236) (3,198) — — — — — Subtotal 38,033 2,471 1,862 42,366 31,970 1,242 13,336 613 47,161 Net carrying amount 29,687 1,863 5,040 36,590 41,752 3,135 — 6,917 51,804 |
Goodwill
Goodwill | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Goodwill | GOODWILL The Group completed the annual impairment test as at March 31, 2021 for its CGUs which are categorized as follows: (i) the operations in Canada excluding Alithya Digital Technology Corporation (“ADT”), (ii) the operations of ADT, (iii) the operations in France, (iv) EPM U.S. operations and (v) ERP U.S. operations. As at March 31, 2021 Canada ADT France EPM US ERP US Total $ $ $ $ $ $ Beginning balance 26,950 7,694 150 10,012 32,802 77,608 Foreign currency translation adjustment — — (13) (1,097) (3,592) (4,702) Net carrying amount 26,950 7,694 137 8,915 29,210 72,906 As at March 31, 2020 Canada ADT France EPM US ERP US Total $ $ $ $ $ $ Beginning balance 20,060 9,794 1,836 12,296 35,648 79,634 Business acquisitions (note 3) 6,890 — — 3,374 — 10,264 Divestiture of subsidiary — — — — (576) (576) Impairment — (2,100) (1,700) (6,600) (4,300) (14,700) Foreign currency translation adjustment — — 14 942 2,030 2,986 Net carrying amount 26,950 7,694 150 10,012 32,802 77,608 The Group completed an annual impairment test as at March 31, 2021 and concluded no impairment occurred. The Group had performed its annual goodwill impairment test, on March 31, 2020 , in the context of the COVID-19 pandemic and the significantly increased uncertainty surrounding global economic conditions in general, and the outlook of the Group’s clients’ different markets and industries in particular. As a result, the Company recorded a total goodwill impairment of $14,700,000, relating to certain CGUs as indicated in the above table. The immediate and long-term impacts of the COVID-19 pandemic, including related government and central bank interventions were unknown at that time and any estimate thereof is subject to significant uncertainty. The effects of the pandemic may therefore differ from those used in the above impairment calculations. 8. GOODWILL (CONT’D) In assessing whether goodwill is impaired, the carrying amount of the CGU was compared to its recoverable amount. T he recoverable amount of each CGU was determined based on the value-in-use calculations, covering a detailed three-year forecast, which reflect such increased uncertainty and risks , followed by an extrapolation of expected cash flows for the remaining useful lives using the declining growth rate determined by management. The present value of the expected cash flows of each CGU is determined by applying a suitable after tax value Weighted Average Cost of Capital (“WACC”) reflecting current market assessments of the time value of money and the CGU-specific risks. Key assumptions used in impairment testing by CGU are as follows: As at March 31, 2021 Canada ADT France EPM US ERP US % % % % % After tax WACC 10.8 11.2 14.6 13.2 13.4 Long-term growth rate of net operating cash flows* 3.4 3.4 4.5 3.4 3.4 * The long-term growth rate is based on published industry research. As at March 31, 2020 Canada ADT France EPM US ERP US % % % % % After tax WACC 14.0 14.0 16.0 16.5 17.0 Long-term growth rate of net operating cash flows* 3.0 4.0 3.0 3.0 3.0 * The long-term growth rate is based on published industry research. |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | |
Accounts Payable and Accrued Liabilities | As at March 31, 2021 2020 $ $ Trade accounts payable 15,196 14,972 Accrued liabilities 12,478 13,998 Accrued compensation 21,098 18,411 Consumption taxes payable 2,662 2,241 Performance obligations in customer contracts 137 219 Provision — 486 51,571 50,327 The following table summarizes the provision recorded by the Group: As at March 31, 2021 2020 $ $ Beginning balance 486 154 Paid or otherwise settled (486) — Additional provision — 332 Ending balance — 486 |
Long-term Debt
Long-term Debt | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 2020 $ $ Senior secured revolving credit facility (the "Credit Facility") (a) 31,023 37,615 Balance of purchase payable with a nominal value of $3,100,000, non-interest bearing (5.8% effective interest rate) payable April 3, 2022 2,988 2,877 Balance of purchase payable with a nominal value of $1,800,000, non-interest bearing (6.0% effective interest rate), payable on October 1, 2022 1,649 1,556 Balance of purchase payable with a nominal value of $8,579,919 ($6,825,000 US), non-interest bearing (6.0% effective interest rate), payable on December 13, 2022 7,770 8,232 Balance of purchase payable with a nominal value of $3,258,750, non-interest bearing (5.7% effective interest rate) payable on February 1, 2022 3,112 2,944 Unsecured promissory notes (US$4,800,000) (b) 6,034 — Deferral of employment tax deposits and payments (US$1,877,873) (c) 2,361 — Other 213 347 Unamortized transaction costs (net of accumulated amortization of $476,685 and $234,858) (199) (342) 54,951 53,229 Current portion of long-term debt 35,134 1,143 19,817 52,086 (a) The senior secured revolving credit facility is available to a maximum amount of $60,000,000 and can be drawn in Canadian and the equivalent amount in U.S. dollars. It is available in prime rate advances, LIBOR advances, bankers’ acceptances and letters of credit. The letters of credit exposure shall not exceed $2,500,000 at any time. The advances bear interest at the Canadian or U.S. prime rate, plus an applicable margin ranging from 0.00% to 1.50%, or bankers’ acceptances or LIBOR rates, plus an applicable margin ranging from 1.00% to 2.75%, as applicable for Canadian and U.S. advances, respectively. Until June 30, 2021, the applicable margin on the Canadian or U.S. advances and the bankers' acceptances and LIBOR advances is set at 1.50% and 2.75%, respectively. Thereafter, the applicable margin will be determined based on threshold limits for certain financial ratios. As at March 31, 2021, the advance drawn on the Credit Facility amount to US$3,200,000 ($4,022,819) (2020 - US$14,000,000 ($19,764,654)), and $27,000,000 (2020 - $17,850,000), in U.S. and Canadian dollars respectively. As at March 31, 2021, the U.S. advances bear interest at 2.85% (2020 - 1.86%) and the Canadian advances bear interest at 3.95% (2020 - 2.45%). As security for the Credit Facility, Alithya provided a first ranking hypothec on the universality of its assets excluding leased equipment and Investissement Quebec’s first ranking lien on tax credits receivable for the financing related to refundable tax credits, to a maximum of $7,500,000. Under the terms of the agreement, the Group is required to maintain certain financial covenants, which are measured on a quarterly basis. A monthly minimum availability test is also applicable until March 31, 2021. The Credit Facility matures on January 22, 2022 and is renewable for additional one-year periods at the lender’s discretion. As the maturity date of the Credit Facility is within twelve months after the reporting date, it has been classified as under the current portion of long-term debt. The Group does not anticipate any issue in renewing its Credit Facility before the maturity date. The Group was in compliance with all of its financial covenants at March 31, 2021 and 2020 (note 22). |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 2020 Current tax expense $ $ Current tax expense for the year 1,515 237 Total current tax expense 1,515 237 Deferred tax expense (recovery) Origination and reversal of temporary differences (3,797) (3,202) Total deferred tax recovery (3,797) (3,202) Total income tax recovery (2,282) (2,965) The Group’s effective income tax rate differs from the combined Federal, U.S. State and Provincial Canadian statutory tax rate as follows: Year ended March 31, 2021 2020 % $ % $ Loss before income taxes (19,620) (42,632) Company's statutory tax rate 26.5 (5,199) 26.5 (11,297) Non-deductible share-based compensation expense (4.2) 815 (1.6) 689 Other non-deductible and tax exempt items (2.8) 549 (1.1) 490 Change in unrecognized deferred tax assets (10.6) 2,076 (15.9) 6,795 Impairment of intangibles and goodwill — — (0.7) 310 Other 2.7 (523) (0.1) 48 Effective income tax rate 11.6 (2,282) 7.1 (2,965) Deferred income tax assets and liabilities The amounts recognized in the consolidated statement of financial position consist of: As at March 31, 2021 2020 $ $ Deferred tax liabilities (2,980) (4,057) Deferred tax assets 7,465 4,652 4,485 595 11. INCOME TAXES (CONT’D) Movements in temporary differences during the year were as follows: As at March 31, 2021 March 31, 2020 Opening Recognized Recognized to other comprehensive loss Total Opening Recognized Business acquisitions Total $ $ $ $ $ $ $ $ Losses available for carryforward and other tax deductions 11,052 2,064 — 13,116 13,669 (2,884) 267 11,052 Deferred financing costs 700 (142) — 558 908 (211) 3 700 Total deferred tax assets 11,752 1,922 — 13,674 14,577 (3,095) 270 11,752 Intangibles and goodwill (7,873) 1,744 — (6,129) (11,499) 6,310 (2,684) (7,873) Tax credits and other (3,284) 131 93 (3,060) (2,148) (13) (1,123) (3,284) Total deferred tax liability (11,157) 1,875 93 (9,189) (13,647) 6,297 (3,807) (11,157) Net carrying amount 595 3,797 93 4,485 930 3,202 (3,537) 595 Losses available for carryforward for which no deferred tax asset was recognized Expiry date ( ¹ ) USA $ 2037 13,307 Indefinite 16,315 29,622 (1) Net operating losses amounting to $19,779,000 of which $13,307,000 will expire in 2037, are limited due to the U.S. tax rules applicable on the acquisition of Alithya USA, Inc. (formerly “Edgewater Technology Inc.”) in the year end March 31, 2019. In addition, the Company has i) state losses amounting to $28,409,000 (with expiry dates ranging from 2022 to 2041) and ii) deductible temporary differences totaling $23,309,000 for which no deferred tax benefit has been recognized. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 Technology licenses, infrastructure and other Total 2022 2,143 2023 462 2024 270 2025 156 Thereafter 82 3,113 |
Related Parties
Related Parties | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Related Parties | RELATED PARTIES Ultimate controlling party As at March 31, 2021, the holders of Multiple Voting Shares, directly or indirectly, collectively owned or exercised control over Subordinate Voting Shares and Multiple Voting Shares representing approximately 59.01% of the total voting rights of Alithya. The holders have 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, 2021 2020 Director compensation, and key management salaries and benefits* 4,427 4,058 Share-based compensation 1,273 680 5,700 4,738 * Salaries and benefits include short-term incentive compensation. In addition to the above amounts, the Group is committed to pay incremental benefits to certain members of key management up to $5,450,000 (2020 - $4,633,000) in the event of change of control or termination without cause. 14. RELATED PARTIES (CONT’D) Operating transactions with shareholders exercising significant influence |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Mar. 31, 2021 | |
Earnings per share [abstract] | |
Earnings Per Share | EARNINGS PER SHARE March 31, 2021 2020 $ $ Net loss (17,338) (39,667) Weighted average number of common shares outstanding 58,209,375 56,399,499 Basic and diluted loss per share (0.30) (0.70) The stock options mentioned in note 12 were not included in the calculation of diluted earnings per share since the Company suffered losses and the inclusion of these stock options would have an antidilutive effect. |
Reconciliation of Liabilities A
Reconciliation of Liabilities Arising from Financing Activities | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 March 31, 2020 Current Long-term Total Line of credit and demand loan Current Long-term Total $ $ $ $ $ $ $ Beginning balance 1,143 52,086 53,229 — 1,000 27,305 28,305 Repayment — (49,867) (49,867) (3,153) (4,273) (50,136) (57,562) Proceeds — 53,471 53,471 — 2,517 61,576 64,093 Total cash flow — 3,604 3,604 (3,153) (1,756) 11,440 6,531 Acquisitions — — — 3,153 1,105 11,856 16,114 Amortization of finance costs — 242 242 — — 231 231 Interest accretion on balances of purchase payable — 835 835 — — 318 318 PPP loan forgiveness — (1,898) (1,898) — — — — Impacts of foreign exchange 270 (1,331) (1,061) — — 1,730 1,730 Reclassification Credit Facility (note 10) 31,023 (31,023) — — — — — Reclassification other long-term debt 2,698 (2,698) — — 794 (794) — Total non cash 33,991 (35,873) (1,882) 3,153 1,899 13,341 18,393 Ending balance 35,134 19,817 54,951 — 1,143 52,086 53,229 |
Additional Information on Conso
Additional Information on Consolidated Loss | 12 Months Ended |
Mar. 31, 2021 | |
Profit (loss) [abstract] | |
Additional Information on Consolidated Loss | ADDITIONAL INFORMATION ON CONSOLIDATED LOSS The following table provides additional information on the consolidated loss: March 31, As at 2021 2020 $ $ Revenue – contingent rental (1) — 1,532 Employee compensation costs 210,800 194,678 Government assistance - tax credits (2) (6,737) (4,815) - grants and loan forgiveness (3) (6,530) — Selling expenses (4) 46,271 44,084 General and administrative expenses (4) 35,452 32,698 Depreciation of property and equipment 1,861 1,278 Depreciation of right-of-use assets 1,906 2,090 (1) The Company acted as a lessor in operating leases related to the use of premises. (2) Included in cost of sales (3) $5,362,516 and $1,167,658 are included in cost of sales and selling, general and administrative expenses, respectively. (4) Including related employee compensation costs. |
Financial Expenses
Financial Expenses | 12 Months Ended |
Mar. 31, 2021 | |
Financial Expense [Abstract] | |
Financial Expenses | FINANCIAL EXPENSES The following table summarizes financial expenses: March 31, As at 2021 2020 $ $ Interest on long-term debt 1,185 1,155 Interest and financing charges 448 306 Interest on lease liabilities 595 375 Amortization of finance costs 242 231 Interest accretion on balances of purchase payable 835 318 Interest income (31) (38) 3,274 2,347 |
Supplementary Cash Flow Informa
Supplementary Cash Flow Information | 12 Months Ended |
Mar. 31, 2021 | |
Supplementary Cash Flow Information [Abstract] | |
Supplementary Cash Flow Information | SUPPLEMENTARY CASH FLOW INFORMATION Net change in non-cash working capital items is as follows: March 31, As at 2021 2020 $ $ Accounts receivable and other receivables (5,289) 7,622 Income taxes receivable 1,450 (407) Unbilled revenue (2,154) 2,200 Tax credits receivable 28 185 Prepaids (944) 377 Accounts payable and accrued liabilities 5,504 (4,673) Deferred revenue 1,319 435 (86) 5,739 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | FINANCIAL INSTRUMENTS The Group's financial instruments consist of cash, restricted cash, accounts receivable and other receivables, trade accounts payable and accrued liabilities and long-term debt and lease liabilities. The Group, through its financial assets and liabilities, has exposure to the following risks from its use of financial instruments: interest rate risk, credit risk, liquidity risk and currency risk. Senior management and Board are responsible for setting risk levels and reviewing risk management activities as they determine necessary. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group is exposed to fluctuations in interest rates with respect to its variable rate on its Credit Facility. The interest rate risk profile of the Group's interest-bearing financial instruments was as follows: As at March 31, 2021 2020 $ $ Variable rate financial instruments Credit Facility (note 10) 31,023 37,615 Other long-term debt (note 10) 213 347 31,236 37,962 For the year ended March 31, 2021, the Group has determined that a reasonably possible increase or decrease of 100 basis point in interest rates of the above variable-rate financial liabilities would not have a significant impact on equity and profit or loss. This analysis assumes that all other variables remain constant, in particular foreign currency exchange rates. It has been performed on the same basis for the year ended March 31, 2020. The Group does not account for any fixed rate financial liabilities at FVTPL. Therefore, a change in interest rates at the reporting date would not affect equity and profit or loss. 21. FINANCIAL INSTRUMENTS (CONT’D) Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s activities are financed through a combination of cash flows from operations, borrowings under existing credit facilities, issuance of debt and issuance of equity. As a result of the effect of COVID-19, unanticipated pressures may occur on liquidity. In order to manage its exposure to liquidity risk, the Group’s primary goal is to maintain an optimal level of liquidity through an active management of assets and liabilities as well as cash flows. As at March 31, 2021, the Group has an unused capacity of $23,976,000 (2020 - $22,000,000) under its authorized secured senior revolving credit facility of $60,000,000 (2020 - $60,000,000). 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, 2021 Carrying amount Total Less than 1 year 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Accounts payable and accrued liabilities 27,674 27,674 27,674 — — — Credit Facility 31,023 32,008 32,008 — — — Balances of purchase payable, non-interest bearing 15,519 16,739 3,259 13,480 — — Other liabilities (included in long-term debt) 213 213 213 — — — Lease liabilities 15,459 17,866 2,482 2,602 6,756 6,026 89,888 94,500 65,636 16,082 6,756 6,026 As at March 31, 2020 Carrying amount Total 1 year or less 1-2 years 2-5 years More than 5 years $ $ $ $ $ $ Accounts payable and accrued liabilities 28,970 28,970 28,970 — — — Credit Facility 37,615 39,775 1,178 38,597 — — Balances of purchase payable, non-interest bearing 15,609 17,006 1,000 3,259 12,747 — Other liabilities (included in long-term debt) 347 347 126 101 120 — Lease liabilities 13,232 16,091 2,020 2,018 6,464 5,589 95,773 102,189 33,294 43,975 19,331 5,589 21. FINANCIAL INSTRUMENTS (CONT’D) Credit risk Credit risk is the risk of loss due to a counterparty's inability to meet its obligations. At March 31, 2021 and 2020, the Group's credit risk exposure consists mainly of the carrying amount of cash held with major Canadian banks, accounts receivable and other receivables, and unbilled revenue. The carrying amounts of financial assets and unbilled revenue represent the maximum credit exposure. Impairment losses recognized in profit or loss is not significant both in 2021 and 2020. The credit risk in respect of cash balances is minimal as they are held with reputable financial institutions. With respect to accounts receivable and unbilled revenue, the Group is exposed to a concentration of credit risk on significant customers operating in Canada, as identified in n ote 4. However, this credit risk exposure is mitigated by the relative size and nature of the business carried on by such customers. Also, the Group has a large and diversified client base from clients engaged in various industries, including banks with high credit-rating, government agencies, telecommunications and retails. Historically, the Group has not made any significant write-offs. Notwithstanding the impact of COVID-19, the Group’s credit risk exposure remains relatively low. A substantial portion of accounts receivable and unbilled revenues are with customers who operate in industries for which credit risk has not increased significantly following the pandemic. However, if a key customer experiences financial difficulties or fails to comply with its contractual obligations which may occur as the pandemic continues, this could result in a significant financial loss to the Group. In order to manage its exposure to credit risk and assess credit quality, the Group established a credit policy under which collection of accounts receivable is a priority. Each new customer is analyzed individually for creditworthiness before the Group enters into contract. The financial stability and liquidity of customers are assessed on a regular basis, which included the review of default risk associated with the industry in which customers operate. The Group also limits its exposure by setting credit limits when deemed necessary. No significant adjustments were made to allowance for doubtful accounts in connection with this assessment. For both 2021 and 2020, allowance for credit losses was not significant. Currency risk The Group is exposed to transactional foreign currency risk to the extent that there is a mismatch between the currencies in which cash, accounts receivables and other receivables, accounts payables and accrued liabilities and borrowings are denominated and the respective functional currencies of Group’s companies. The currencies in which these financial instruments are mainly denominated is USD. Other currencies have no significant impact on the Group’s exposure to currency risk. The summary quantitative data about the Group’s exposure to currency risk for the significant exchange rates is as follow, expressed in Canadian dollars: As at March 31, 2021 2020 USD USD Cash 681 1,258 Accounts receivable and other receivables 243 532 Accounts payable and accrued liabilities (1,609) (1,333) Credit Facility (4,023) (19,765) Net statement of financial position exposure (4,708) (19,308) 21. FINANCIAL INSTRUMENTS (CONT’D) The following table illustrates the sensitivity of profit and equity in regards to the Group’s financial assets and financial liabilities and the USD/Canadian dollars exchange rate ‘all other things being equal’. It assumes a +/- 17% change of the USD/Canadian dollars exchange rate for the year ended March 31, 2021 (2020: +/-8%). This percentage has been determined based on the average market volatility in exchange rate in the previous twelve months. The sensitivity analysis is based on the Group’s foreign currency financial instruments held at each reporting date. Profit or loss Effect in Canadian dollar Strengthening Weakening As at March 31, 2021 USD 17% Movement (631) 631 As at March 31, 2020 USD 8% Movement (1,087) 1,087 Fair Value of Financial Instruments Financial instruments recorded at fair value on the consolidated statements of financial position are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: • Level 1 - Valuation based on quoted prices observed in active markets for identical assets or liabilities. • Level 2 - Valuation techniques based on inputs that are quoted prices of similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; inputs other than quoted prices used in a valuation model that are observable for that instrument; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 - Valuation techniques with significant unobservable market inputs. A financial instrument is classified at the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. The fair value of the long-term debt is estimated by discounting expected cash flows at rates that would be currently offered to the Group for debts of the same remaining maturities and conditions (level 2). For both 2021 and 2020, the Group has determined that the fair value of the Credit Facility and the balance of purchase payable are not significantly different than their carrying amount of $31,023,000 and $15,519,000 as at March 31, 2021, respectively ($37,615,000 and $15,609,000 as at March 31, 2020, respectively). |
Capital Disclosures
Capital Disclosures | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Capital Disclosures [Abstract] | |
Capital Disclosure | CAPITAL DISCLOSURES The Group's capital consists of cash, restricted cash, long-term debt and total shareholders’ equity. The Group's main objectives when managing capital are: • to provide a strong capital base in order to maintain shareholder, creditor and stakeholder confidence and to sustain future growth development of the business; • to maintain a flexible capital structure that optimizes the cost of capital at acceptable risk and preserves the ability to meet financial obligations; • to ensure sufficient liquidity to pursue its organic growth strategy and undertake selective acquisitions; and • to provide a rewarding return on investment to shareholders. 22. CAPITAL DISCLOSURES (CONT’D) 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, where applicable, bank borrowings. Alithya manages its capital structure and may make adjustments to it, in order to support the broader corporate strategy or in response to changes in economic conditions and risk. In order to maintain or adjust its capital structure, the Group may purchase shares from existing shareholders, issue new shares, issue new debt, issue new debt to replace existing debt (with different characteristics), or reduce the amount of existing debt. Total capital as at March 31, 2021 and 2020 is calculated as follows: As at March 31, 2021 2020 $ $ Cash (6,903) (8,810) Restricted cash (3,233) (2,212) Current portion of long-term debt 35,134 1,143 Long-term debt 19,817 52,086 Share capital 197,537 195,335 Deficit (96,190) (78,780) Accumulated other comprehensive income (508) 6,123 Contributed surplus 7,173 4,691 152,827 169,576 The Group monitors capital using a number of financial metrics, including but not limited to: • the senior debt to adjusted EBITDA (as defined further herein) ratio, defined as senior debt to 12-month trailing adjusted EBITDA (as defined in the Credit Facility); • the total debt to adjusted EBITDA ratio, defined as total debt to 12-month trailing adjusted EBITDA; and • the fixed charge coverage ratio, defined as adjusted EBITDA minus taxes, distributions and capital expenditures to aggregate interest expense and regular scheduled principal repayments. The Group uses operating income, Adjusted EBITDA (defined as earnings before interest, income taxes, depreciation, amortization, share-based compensation and non-recurring costs) and Free Cash Flow (defined as operating cash flows less additions to property and equipment, and additions to intangibles other than business combinations) as measurements to monitor operating performance. EBITDA and Free Cash Flow, as presented, are not recognized for financial statement presentation purposes under IFRS, and do not have a standardized meaning. Therefore, they are not likely to be comparable to similar measures presented by other entities. The continued availability of the Credit Facility is subject to the Group’s ability to maintain certain senior debt, 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, 2021 and 2020. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Events After Reporting Period Explanatory [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTOn April 1, 2021, the Company acquired all of the outstanding shares of R3D Consulting Inc. (now Alithya IT Services Inc.), a private Quebec firm that specializes in digital solutions. Subject to customary post-closing purchase price adjustments, 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 $978,180 and assumed long-term debt of $8,931,839 on the closing date. The accounting for this acquisition and the purchase price allocation have not yet been finalized due to the timing of the acquisition. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2021 | |
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 9, 2021. Basis of Measurement and Comparative Figures These consolidated financial statements have been prepared on an accrual basis and under the historical cost basis except for certain assets and liabilities initially recognized in connection with business combinations. Certain figures have been reclassified to conform to the current year presentation. |
Principles of Consolidation | PRINCIPLES OF CONSOLIDATION Subsidiaries Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed or has the right to variable returns from its relationship with the entity and is able to affect those returns through its power over the activities of the entity. The subsidiaries’ financial statements are included in these consolidated financial statements from the date of commencement of control until the date that control ceases. Subsidiaries’ accounting policies have been adjusted, when necessary, to align with the policies adopted by the Group. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) All intercompany balances and transactions, and any unrealized income and expenses arising from intra-company transactions, are eliminated on consolidation. These consolidated financial statements include the accounts of the Company and the accounts of its wholly-owned subsidiaries. All subsidiaries have a reporting date of March 31. The Company’s principal subsidiaries are as follows: 2021 2020 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% Alithya Digital Technology Corporation Ontario, Canada 100% 100% Alithya France SAS (formerly Alithya Consulting SAS) France 100% 100% Alithya USA, Inc. Delaware, USA 100% 100% Alithya Financial Solutions, Inc. Delaware, USA 100% 100% Alithya Ranzal LLC Delaware, USA 100% 100% Alithya Zero2Ten, Inc. Delaware, USA 100% 100% Alithya Fullscope Solutions, Inc. Delaware, USA 100% 100% Matricis Informatique Inc. Quebec, Canada 100% 100% Alithya Travercent LLC Texas, USA 100% 100% Alithya Askida Consulting Services Inc. Quebec, Canada 100% 100% Alithya Askida Solutions Inc. Quebec, Canada 100% 100% Pro2p Services Conseils Inc. Canada 100% 100% Alithya Solutions Canada Inc. Canada 100% 100% |
Business Combinations | BUSINESS COMBINATIONS The Group accounts for its business combinations using the acquisition method. Under this method the consideration transferred is measured at fair value. Acquisition-related and integration costs associated with the business combination are expensed as incurred. The Group recognizes goodwill as the excess of the cost of the acquisition over the net identifiable tangible and intangible assets acquired and liabilities assumed at their acquisition date fair values and any non-controlling interest in the acquiree. The fair value allocated to tangible and intangible assets acquired and liabilities assumed are based on management’s assumptions, including assumptions that would be made by market participants, acting in their economic best interest. These assumptions include the future expected cash flows arising from the intangible assets identified. The goodwill recognized is composed of the future economic value associated to acquired work force and any identified synergies with the Group’s operations which are primarily due to reduction of costs and new business opportunities. The determination of fair value involves making estimates relating to acquired intangible assets, property and equipment, litigation, provision for estimated losses on revenue-generating contracts, other onerous contracts, tax and other contingency reserves. Estimates include the forecasting of future cash flows and discount rates. Subsequent changes in fair values are adjusted against the cost of acquisition, if they qualify as measurement period adjustments. The measurement period is the period between the date of acquisition and the date where all significant information necessary to determine the fair values is available, not to exceed 12 months. All other subsequent changes are recognized in the consolidated statements of operations. |
Translation of Foreign Currencies | TRANSLATION OF FOREIGN CURRENCIES The Group’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. Each entity in the group determines its own functional currency and items included in the consolidated financial statements of each entity are measured using that functional currency. Functional currency is the currency of the primary economic environment in which the entity operates. Foreign currency transactions and balances Revenue, expenses and non-monetary assets and liabilities denominated in foreign currencies are recorded at the rate of exchange prevailing at the transaction date, except for non-monetary items measured at fair value, which are translated using the exchange rates at the date when the fair value was determined. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates prevailing at the reporting date. Unrealized and realized translation gains and losses, resulting from the settlement of such transactions and from the remeasurement of monetary items denominated in foreign currency, are reflected in the consolidated statements of operations. Foreign operations In the Group’s consolidated financial statements, all assets, liabilities and transactions of Group entities with a functional currency other than the Canadian dollar are translated into Canadian dollars upon consolidation. The functional currencies of entities within the Group have remained unchanged during the reporting period. Upon consolidation, assets and liabilities have been translated into Canadian dollars at the closing rate at the reporting date. Goodwill and fair value adjustments arising from the acquisition of a foreign entity have been treated as assets and liabilities of the foreign entity and translated into Canadian dollars at the closing rate. Revenue and expenses have been translated into Canadian dollars at the average rate over the reporting period. Exchange differences are charged or credited to other comprehensive income and recognized in the currency translation reserve in equity. On disposal of a foreign operation, the related cumulative translation differences recognized in equity are reclassified to the consolidated statements of operations and are recognized as part of the gain or loss on disposal. |
Segmented Reporting | SEGMENTED REPORTING An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to the transactions with any of the Group’s other segments. Based on the information received and analyzed by the decision-makers on a regular basis, the Group has determined that it has one reportable segment. |
Revenue Recognition, Unbilled Revenue And Deferred Revenue | REVENUE RECOGNITION, UNBILLED REVENUE AND DEFERRED REVENUE 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) 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 stand-alone 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. The Group recognizes contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as other liabilities in the statement of financial position. Similarly, if the Group satisfies a performance obligation before it receives the consideration, the Group recognizes either a contract asset 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. Time and materials arrangements - Revenue from consulting services and systems implementations under time and materials arrangements is recognized as the services are rendered. Fixed-fee arrangements - Revenue from consulting services and systems implementations under fixed-fee arrangements where the outcome of the arrangements can be estimated reliably is recognized using the percentage-of-completion method over the service periods. 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. Unbilled revenue and deferred revenue - Amounts recognized as revenue in excess of billings are classified as unbilled revenue. Amounts received in advance of the performance of services are classified as deferred revenue. Retainer 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 (using an hours-based input method). Revenue recognition over time is based on customer simultaneously receiving and consuming the benefit of the services provided. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Estimated losses on revenue-generating contracts - Estimated losses on revenue-generating contracts may occur due to additional contract costs which were not foreseen at the inception of the contract. Contract losses are measured at the amount by which the estimated total costs 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 in accounts payable and accrued liabilities. Management regularly reviews arrangement profitability and underlying estimates. Software revenue - Software revenue is generated from the resale of certain third-party off-the-shelf software and maintenance. The majority of the software sold by the Group is delivered electronically. For software that is delivered electronically, the Group considers transfer of control to have occurred when the customer either (a) takes possession of the software via a download (that is, when the customer takes possession of the electronic data on its hardware), or (b) has been provided with access codes that allow the customer to take immediate possession of the software on its hardware pursuant to an agreement or purchase order for the software. In all instances, the resale of third-party software and maintenance is recorded on a net basis. Group created software, and the associated maintenance, is reported on a gross basis, however it is immaterial in all periods presented. Third party software and maintenance revenue are recognized upon delivery of the software, as all related warranty and maintenance is performed by the primary software vendor and not the Group. 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 established standalone selling prices for consulting services based on a stated and consistent rate per hour range in standalone transactions. The Group has established standalone selling prices for software through consistent stated rates for software components. The Group has established standalone selling prices for maintenance based on observable prices for standalone renewals. |
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). In the years presented, the Company does not have any financial assets categorized as FVOCI or FVTPL. 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 presented within financial expense, except for impairment of accounts receivables and other receivables, which is presented within selling, general and administrative expenses. Subsequent measurement of financial assets Financial assets at amortized cost Financial assets are measured at amortized cost if the assets meet the following conditions (and are not designated as FVTPL): • they are held within a business model whose objective is to hold the financial assets and collect its contractual cash flows; and • the contractual terms of the financial assets give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding. After initial recognition, these are measured at amortized cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. The Group’s cash, restricted cash and accounts receivable and other receivables fall into this category of financial instruments. Impairment of financial assets and unbilled revenues IFRS 9’s impairment requirements use forward-looking information to recognize expected credit losses – the ‘expected credit loss (ECL) model’. Instruments within the scope of IFRS 9’s impairment requirements included loans and other debt-type financial assets measured at amortized cost and FVOCI, accounts receivables and other receivables 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. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) The Group considers a range of information when assessing credit risk and measuring expected credit losses, including past events, current conditions, reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument. In applying this forward-looking approach, a distinction is made between: • financial instruments that have not deteriorated significantly in credit quality since initial recognition or that have low credit risk (‘Stage 1’) and • financial instruments that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low (‘Stage 2’). ‘Stage 3’ would cover financial assets that have objective evidence of impairment at the reporting date. ‘12-month expected credit losses’ are recognized for the first category while ‘lifetime expected credit losses’ are recognized for the second category. Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses over the expected life of the financial instrument. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. Accounts Receivable and Other Receivables and Unbilled Revenues The Group makes use of the simplified approach in accounting for accounts receivable and other receivables and unbilled revenues and records the loss allowance as lifetime expected credit losses. These are the expected shortfalls in contractual cash flows, considering the potential for default at any point during the life of the financial instrument. In calculating, the Group uses its historical experience, external indicators and forward-looking information to calculate the expected credit losses using a provision matrix. The Group assesses impairment of accounts receivables and other receivables on a collective basis as they possess shared credit risk characteristics. They have been grouped based on the days past due. Classification and measurement of financial liabilities The Group’s financial liabilities include trade accounts payable and accrued liabilities, lease liabilities and long-term debt. Financial liabilities are initially measured at fair value, and, where applicable, adjusted for transaction costs unless the Group designated a financial liability at fair value through profit or loss. Subsequently, financial liabilities are measured at amortized cost using the effective interest method and financial liabilities designated at FVTPL, which are carried subsequently at fair value with gains or losses recognized in profit or loss. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) All interest-related charges and, if applicable, changes in an instrument’s fair value are reported in the consolidated statements of operations within financial expenses. Transaction Costs Transaction costs related to loans and receivables and liabilities are considered as part of the carrying value of the asset or liability and are then amortized over the expected life of the instrument using the effective interest rate method. Financial Income and Expenses Financial income includes interest income on cash. Interest income is recognized as it accrues in earnings, using the effective interest method. Financial expenses include interest expense on borrowings, effective interest on non-interesting bearing vendor financing arising from business combinations, amortization of unwinding of the discount on provisions and other interest and bank charges. |
Earnings per Share | EARNINGS PER SHARE Basic earnings (loss) per share is calculated by dividing the net earnings (loss) attributable to the holders of Common Shares (as defined further herein) by the weighted average number of Common Shares outstanding during the period, including the effect of stock options exercised and deferred share units. The net earnings (loss) attributable to the holders of Common Shares corresponds to the net earnings (loss) adjusted by deducting earnings allocated to preferred shares. Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the weighted average number of additional Common Shares that would have been outstanding assuming the conversion of all dilutive potential equity instruments. Dilutive potential outstanding stock options include the total number of additional Common Shares that would have been issued by the Company assuming stock options with exercise prices below the average market price for the year were exercised and reduced by the number of shares that the Company could have repurchased if it had used the assumed proceeds from the exercise of stock options to repurchase them on the open market at the average share price for the period. “Common Shares” include the Subordinate Voting Shares and Multiple Voting Shares (as defined further herein). |
Restricted Cash | RESTRICTED CASH Restricted cash represents amounts held in trust as required by contractual obligations arising from a business acquisition. Restricted cash that is not expected to become unrestricted within the next twelve months is included in non-current assets on the statements of financial position. |
Government Assistance - Tax Credits | GOVERNMENT ASSISTANCE Certain subsidiaries are eligible for government assistance programs, in the different jurisdictions, in the form of grants, loans and tax credits for the development of e-business. Government assistance is recorded when there is reasonable assurance that the assistance will be received and that the subsidiary will comply with all relevant conditions. Assistance is treated as a reduction in the cost of the related item. |
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. |
Intangibles | INTANGIBLES Intangible assets consist mainly of customer relationships, non-compete agreements, internal-use business solutions and 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, internal-use business solutions and software licenses acquired through business combinations are initially recorded at their fair value. The Group amortizes its intangible assets using the straight-line method over their estimated useful lives, 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. For goodwill, and intangible assets that have indefinite useful lives or that are not yet available for use, the impairment is tested at least annually, typically as at March 31. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Impairment testing The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs of disposal. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "cash-generating unit", or "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 earnings. Impairment losses recognized in respect of CGUs that include goodwill are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) 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. |
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 Common 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 Common Shares and preferred shares and stock options are recognized as a deduction from equity, net of any tax effects. Dividends payable by the Company to its Common Shares and preferred shareholders, which are determined at the discretion of the Board and in accordance with the terms of each category of preferred shares (note 12), are recorded when declared. Dividends on Common Shares and preferred shares are recognized as distributions within equity. When share capital recognized as equity is repurchased, 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. Repurchased shares are made available to eligible employees for purchase at the price (fair value) then in effect, in the context of the share purchase plan described in note 12. |
Share-Based Compensation Plans | SHARE-BASED COMPENSATION PLANS Share purchase plan The Company operates a share purchase plan for eligible employees of the Company and its subsidiaries. Under this plan, the Group matches the contributions made by employees up to a maximum percentage of the employee's salary. The Group’s contributions to the plan are recognized in salaries within cost of revenues and selling, general and administrative. Long-term incentive plan The Company operates a long-term incentive plan for eligible employees and directors of the Company and its subsidiaries which provides for various types of awards. Stock options Stock option expense is based on the grant date fair value of the stock option expected to vest over the vesting period. Forfeitures are estimated at the time of the grant and are included in the measurement of the expense and are subsequently adjusted to reflect actual events. For stock options 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 capital stock together with any related share-based compensation expense originally recorded in contributed surplus. If the amount of the tax deduction (or estimated future tax deduction) exceeds the amount of the related cumulative remuneration expense for stock options, this indicates that the tax deduction relates not only to remuneration expense but also to an equity item. In this situation, the Company recognizes the excess of the associated current or deferred tax to contributed surplus prior to an award being exercised, and any such amounts are transferred to capital stock upon exercise of the stock options. Deferred share units (“DSU”) DSU are settled in Subordinate Voting Shares of the Company and the expense is based on the grant date fair value of the awards with a corresponding adjustment through contributed surplus. |
Significant Management Judgement in Applying Accounting Policies and Estimation Uncertainty | SIGNIFICANT MANAGEMENT JUDGEMENT IN APPLYING ACCOUNTING POLICIES AND ESTIMATION UNCERTAINTY The preparation of these consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the amounts reported as assets, liabilities, income and expenses in the consolidated financial statements. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which they occur and in any future periods affected. Assessment of COVID-19 impact As a result of the continued and uncertain economic and business impact of the COVID-19 pandemic, the Group has reviewed its estimates, judgments and assumptions used in the preparation of its consolidated financial statements, including the determination of whether indicators of impairment exist for its tangible and intangible assets, including goodwill, estimated losses on revenue from fixed-fee arrangement contracts, the credit risk of its counterparties, and the estimates and judgments used for the measurement of its deferred tax assets. Due to the pandemic and the significantly increased uncertainty surrounding global economic conditions in general, and the outlook of the Company’s clients’ different markets and industries in particular, the Group has made revisions to estimates and assumptions used in the determination of impairment of goodwill, as necessary, to reflect the increased uncertainty and risks. As the situation is dynamic and the impact of COVID-19 on the Group’s operations and financial conditions will be impacted by the duration of government-mandated measures and overall customer demand, revisions may be required in future periods to estimates and assumptions. Although management expects COVID-19 related disruptions to continue beyond fiscal 2021, it believes that the Group’s long-term estimates and assumptions do not require further revisions, however management continues to monitor and evaluate the situation and its impact on the Group’s business. Information related to critical judgements required in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following note: Revenue recognition of fixed-fee arrangements – the Group recognizes revenues fixed-fee arrangements which can extend over more than one reporting period. Revenue from these fixed-fee arrangements is recognized over time using the Groups’ best estimate of the total expected labour costs or total expected labour hours, and the related risks associated with completing the projects. The Group’s approach to revenue recognition 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; Determination of the aggregation of operating segments - the Group uses judgment in the aggregation of operating segments for financial reporting and disclosure purposes. The Group has examined its activities and has determined that it has one single reportable segment due to similar characteristics including the nature of services provided to its customers, types of customers comprising its customer base and the regulatory environment in which the Group operates; and 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Income taxes – the Group is subject to income tax laws and regulations in several jurisdictions for which the Groups’ interpretations and the ultimate tax determination is uncertain. The Group recognizes liabilities for anticipated tax audit issues on the basis of amounts expected to be paid to the tax authorities. Where the final tax outcome of these matters is different from the amounts that were initially provisioned, such differences will impact the current and deferred income tax assets and liabilities in the period in which such determination is made. The Group periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Information related to assumptions and estimation uncertainties described below with a significant risk of resulting in material adjustments within the next year are included within the following notes: 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 identifying quantifying 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. Impairment of long-lived assets – the Group’s impairment test for goodwill is based on internal estimates of the value-in-use calculations and uses valuation models such as the discounted cash flow model. Key assumptions on which the Group has based its determination of the individual CGUs’ value-in-use include estimated growth rates and discount rates. These estimates, including the methodology used, the assessment of CGUs and how goodwill is allocated, can have a material impact on the respective values and ultimately the amount of any goodwill impairment. Refer to note 8 for additional information on the assumptions used. Whenever intangible assets are tested for impairment, the determination of the assets’ recoverable amount involves the use of estimates by management and can have a material impact on the respective values and ultimately the amount of any impairment. 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 a discounted future expected cash flows. These evaluations are linked closely to the assumptions made by the Group and can consist of the future performance of the related assets, the discount rate and the attrition rate. Contingent consideration is measured at fair value using a discounted cash flow model. Deferred tax assets – the Group exercises judgment in the assessment of the probability of future taxable income, to estimate the extent to which deferred income tax assets can be realized. Estimates are based on the Group’s most recent approved budget, which is adjusted for significant non-taxable income and expenses and specific limits to the use of any unused tax loss or credit. The tax rules and tax planning strategies in the numerous jurisdictions in which the Group operates are carefully taken into consideration. The Group uses judgment to assess specific facts and circumstances to evaluate legal, economic or other uncertainties. Share-based compensation - the Group measures the cost of equity-settled transactions with employees by reference to the fair value of the related instruments at the date at which they are granted. Estimating fair value for share‑based payments requires determining the most appropriate valuation model for a grant, which depends on the terms and conditions of the grant. This also requires making assumptions and determining the most appropriate inputs to the valuation model including the expected life of the option, volatility and dividend yield. Refer to note 12 for additional information on the assumptions used. |
Lease | LEASES The Group as a lessee For any new contracts entered into the Group considers whether a contract is, or contains a lease. A lease is defined as a “contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration”. To apply this definition, the Group assesses whether the contract meets three key evaluations which are whether: • the contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the Group; • the Group has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract; and • the Group has the right to direct the use of the identified asset throughout the period of use. The Group assesses whether it has the right to direct “how and for what purpose” the asset is used throughout the period of use. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Measurement and recognition of leases as a lessee At lease commencement date, the Group recognizes a right-of-use asset and a lease liability on the statement of financial position. The right-of-use asset is measured at cost, which is made up of the initial measurement of the lease liability, any initial direct costs incurred by the Group, an estimate of any costs to dismantle and remove the asset at the end of the lease, and any lease payments made in advance of the lease commencement date (net of any incentives received). The Group depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The Group also assesses the right-of-use asset for impairment when such indicators exist. At the commencement date, the Group measures the lease liability at the present value of the lease payments unpaid at that date, discounted using the interest rate implicit in the lease if that rate is readily available or the Group’s incremental borrowing rate. Lease payments included in the measurement of the lease liability are made up of fixed payments (including in-substance fixed payments), variable payments based on an index or rate, amounts expected to be payable under a residual value guarantee and payments arising from options reasonably certain to be exercised. The Group has elected not to recognize separately non-lease components of leases for office space (buildings). Accordingly, lease payments and the lease liability include payments relating to lease and non-lease components. Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments. When the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset, or net loss if the right-of-use asset is already reduced to zero. The Group has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognizing a right-of-use asset and lease liability, the payments in relation to these are recognized as an expense in the consolidated statements of operations on a straight-line basis over the lease term. The Group as a lessor As a lessor, the Group classifies its leases as either operating or finance leases. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of the underlying asset, and classified as an operating lease if it does not. |
Future Accounting Standards | FUTURE ACCOUNTING STANDARDS At the date of authorization of these consolidated financial statements, certain new standards, amendments and interpretations, and improvements to existing standards have been published by the IASB but are not yet effective and have not been adopted early by the Group. Management anticipates that all the relevant pronouncements will be adopted in the first reporting period following the date of application. Information on new standards, amendments and interpretations, and improvements to existing standards, which could potentially impact the Group’s consolidated financial statements, are detailed as follows: New Standards and Interpretations Issued but Not Yet Effective On January 23, 2020, the IASB issued amendments to IAS 1 - Presentation of Financial Statements, to clarify t he classification of liabilities as current or non-current. In July 2020, the IASB issued final amendments to defer the effective date to annual periods beginning on or after January 1, 2023. Early adoption is permitted. For the purposes of non-current classification, the amendments removed the requirement for a right to defer settlement or roll over of a liability for at least twelve months to be unconditional. Instead, such a right must have substance and exist at the end of the reporting period. The amendments also clarify how a company classifies a liability that includes a counterparty conversion option. The amendments state that: settlement of a liability includes transferring a company’s own equity instruments to the counterparty; and when classifying liabilities as current or non-current, a company can ignore only those conversion options that are recognized as equity. Management is currently assessing, but has not yet determined, the impact of this new standard on the Group’s consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Primary Subsidiaries | These consolidated financial statements include the accounts of the Company and the accounts of its wholly-owned subsidiaries. All subsidiaries have a reporting date of March 31. The Company’s principal subsidiaries are as follows: 2021 2020 Entity Jurisdiction Percentage Ownership Percentage Ownership Alithya Canada Inc. Quebec, Canada 100% 100% Alithya Consulting Inc. Quebec, Canada 100% 100% Alithya Digital Technology Corporation Ontario, Canada 100% 100% Alithya France SAS (formerly Alithya Consulting SAS) France 100% 100% Alithya USA, Inc. Delaware, USA 100% 100% Alithya Financial Solutions, Inc. Delaware, USA 100% 100% Alithya Ranzal LLC Delaware, USA 100% 100% Alithya Zero2Ten, Inc. Delaware, USA 100% 100% Alithya Fullscope Solutions, Inc. Delaware, USA 100% 100% Matricis Informatique Inc. Quebec, Canada 100% 100% Alithya Travercent LLC Texas, USA 100% 100% Alithya Askida Consulting Services Inc. Quebec, Canada 100% 100% Alithya Askida Solutions Inc. Quebec, Canada 100% 100% Pro2p Services Conseils Inc. Canada 100% 100% Alithya Solutions Canada Inc. Canada 100% 100% |
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, 2021 March 31, 2020 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ Cost 2,333 3,190 5,611 11,134 1,435 2,800 1,844 6,079 Additions 553 1,195 1,682 3,430 1,313 886 3,724 5,923 Additions through business acquisitions — — — — 67 239 22 328 Disposals / retirements (1,150) (1,217) (1,106) (3,473) (490) (855) — (1,345) Foreign currency translation adjustment 2 (279) (38) (315) 8 120 21 149 Subtotal 1,738 2,889 6,149 10,776 2,333 3,190 5,611 11,134 Accumulated depreciation 699 1,752 1,511 3,962 866 1,874 1,000 3,740 Depreciation expense 381 765 715 1,861 226 543 509 1,278 Disposals / retirements (964) (1,188) (1,103) (3,255) (397) (762) — (1,159) Foreign currency translation adjustment (5) (229) (7) (241) 4 97 2 103 Subtotal 111 1,100 1,116 2,327 699 1,752 1,511 3,962 Net carrying amount 1,627 1,789 5,033 8,449 1,634 1,438 4,100 7,172 |
Summary of Amortization Method of Intangible Assets | The Group amortizes its intangible assets using the straight-line method over their estimated useful lives, 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 As at March 31, 2021 March 31, 2020 Customer relationships Software Non-compete agreements Total Customer Software Tradenames Non- Total $ $ $ $ $ $ $ $ $ Cost 73,722 4,377 7,530 85,629 55,823 1,355 12,604 316 70,098 Additions, purchased — 7 — 7 — 49 — — 49 Additions through business acquisitions — — — — 16,077 2,909 — 6,964 25,950 Additions, internally generated — 159 — 159 — — — — — Disposals / retirements (2,933) (29) (237) (3,199) — — — — — Foreign currency translation adjustment (3,069) (180) (391) (3,640) 1,822 64 732 250 2,868 Subtotal 67,720 4,334 6,902 78,956 73,722 4,377 13,336 7,530 98,965 Accumulated amortization 31,970 1,242 613 33,825 21,837 644 — 66 22,547 Amortization 8,996 1,258 1,485 11,739 10,133 598 — 547 11,278 Impairment loss — — — — — — 13,336 — 13,336 Disposals / retirements (2,933) (29) (236) (3,198) — — — — — Subtotal 38,033 2,471 1,862 42,366 31,970 1,242 13,336 613 47,161 Net carrying amount 29,687 1,863 5,040 36,590 41,752 3,135 — 6,917 51,804 |
Business Combinations, Divest_2
Business Combinations, Divestiture and Private Placement (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Matricis Informatique Inc. | |
Disclosure of detailed information about business combination [line items] | |
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 Matricis $ Current assets Cash 467 Accounts receivable and other receivables 584 Unbilled revenue 288 Prepaids 94 1,433 Non-current assets Property and equipment 85 Tax credits receivable 1,059 Deferred tax assets 111 Intangibles 1,820 Goodwill 2,566 Total assets acquired 7,074 Current liabilities Accounts payable and accrued liabilities 596 Deferred revenue 415 Current portion of long-term debt 544 1,555 Non-current liabilities Deferred lease inducements 6 Deferred tax liabilities 624 Total liabilities assumed 2,185 Net assets acquired 4,889 |
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: Acquisition of Matricis $ Cash paid 1,578 Issuance of 473,646 Subordinate Voting Shares (note 12) 1,800 Balance of purchase payable (note 10) 1,511 Total consideration 4,889 |
Alithya Travercent LLC | |
Disclosure of detailed information about business combination [line items] | |
Summary of Preliminary Allocation of Fair Value of Assets Acquired and Liabilities Assumed | The allocation of the fair value of the assets acquired and the liabilities assumed is detailed as follows: Acquisition of Alithya Travercent $ Current assets Cash 2,118 Accounts receivable and other receivables 1,391 Unbilled revenue 1,458 Prepaids 49 5,016 Non-current assets Intangibles 15,720 Goodwill 3,374 Total assets acquired 24,110 Current liabilities Accounts payable and accrued liabilities 1,331 Deferred revenue 2,301 Total liabilities assumed 3,632 Net assets acquired 20,478 |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration Transferred | Consideration paid The following table summarizes the acquisition date fair value of each class of consideration: Acquisition of Alithya Travercent $ Cash paid 8,958 Issuance of 1,274,510 Subordinate Voting Shares (note 12) 3,870 Balance of purchase payable (note 10) 7,650 Total consideration 20,478 |
Askida Inc. | |
Disclosure of detailed information about business combination [line items] | |
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 Askida $ Current assets Cash 616 Accounts receivable and other receivables 4,324 Unbilled revenue 581 Tax credits receivable 2,709 Prepaids 229 8,459 Non-current assets Tax credits receivable 956 Property and equipment 244 Right-of-use assets 193 Intangibles 8,410 Goodwill 4,324 Total assets acquired 22,586 Current liabilities Line of credit 1,022 Demand loan 2,131 Accounts payable and accrued liabilities 1,789 Income taxes payable 62 Deferred revenue 318 Current portion of lease liabilities 84 Current portion of long-term debt 561 5,967 Non-current liabilities Lease liabilities 109 Deferred tax liabilities 3,024 Total liabilities assumed 9,100 Net assets acquired 13,486 |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration Transferred | Consideration paid The following table summarizes the acquisition date fair value of each class of consideration paid: Acquisition of Askida $ Cash paid 8,396 Issuance of 600,384 Subordinate Voting Shares (note 12) 2,173 Balance of purchase payable (note 10) 2,917 Total consideration transferred 13,486 |
Accounts Receivable and Other_2
Accounts Receivable and Other Receivables (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Trade And Other Accounts Receivables [Abstract] | |
Summary of Accounts Receivable and Other Receivables | As at March 31, 2021 2020 $ $ Trade accounts receivable, net (a) 67,049 59,537 Trade accounts receivable from shareholders exercising significant influence — 6,718 Other receivables 2,314 1,407 69,363 67,662 (a) As at March 31, 2021, amounts owing from one client represented 16% of the total trade accounts receivable (one client represented 10% of the total trade accounts receivable as at March 31, 2020). |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 March 31, 2020 Furniture, Computer Leasehold improvements Total Furniture, Computer Leasehold improvements Total $ $ $ $ $ $ $ Cost 2,333 3,190 5,611 11,134 1,435 2,800 1,844 6,079 Additions 553 1,195 1,682 3,430 1,313 886 3,724 5,923 Additions through business acquisitions — — — — 67 239 22 328 Disposals / retirements (1,150) (1,217) (1,106) (3,473) (490) (855) — (1,345) Foreign currency translation adjustment 2 (279) (38) (315) 8 120 21 149 Subtotal 1,738 2,889 6,149 10,776 2,333 3,190 5,611 11,134 Accumulated depreciation 699 1,752 1,511 3,962 866 1,874 1,000 3,740 Depreciation expense 381 765 715 1,861 226 543 509 1,278 Disposals / retirements (964) (1,188) (1,103) (3,255) (397) (762) — (1,159) Foreign currency translation adjustment (5) (229) (7) (241) 4 97 2 103 Subtotal 111 1,100 1,116 2,327 699 1,752 1,511 3,962 Net carrying amount 1,627 1,789 5,033 8,449 1,634 1,438 4,100 7,172 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 March 31, 2020 $ $ Beginning balance as at April 1, 2020 and 2019 11,492 6,509 Additions 2,611 7,262 Terminations — (381) Depreciation (1,906) (2,090) Reassessment (830) — Lease inducement allowance 28 3 Exchange rate effect (277) 189 Ending balance 11,118 11,492 |
Summary of Lease Liabilities | As at March 31, 2021 March 31, 2020 $ $ Beginning balance as at April 1, 2020 and 2019 13,232 6,668 Additions 2,611 7,257 Terminations — (381) Lease payments (1,992) (2,129) Lease incentives 2,243 1,249 Lease interest 595 375 Reassessment (830) — Concession (110) — Exchange rate effect (290) 193 Ending balance 15,459 13,232 Current portion 1,923 1,559 13,536 11,673 |
Contractual Lease Payments Under Lease Liabilities | As at March 31, 2021 $ Less than one year 2,482 One to two years 2,602 Two to five years 6,756 More than five years 6,026 Total undiscounted lease payments at period end 17,866 |
Amounts Recognized in Net Loss | Amounts recognized in net loss Year ended March 31, 2021 March 31, 2020 $ $ Interest on lease liabilities 595 375 Expenses relating to short-term leases — 122 Variable lease payments 2,487 1,134 3,082 1,631 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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 over their estimated useful lives, 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 As at March 31, 2021 March 31, 2020 Customer relationships Software Non-compete agreements Total Customer Software Tradenames Non- Total $ $ $ $ $ $ $ $ $ Cost 73,722 4,377 7,530 85,629 55,823 1,355 12,604 316 70,098 Additions, purchased — 7 — 7 — 49 — — 49 Additions through business acquisitions — — — — 16,077 2,909 — 6,964 25,950 Additions, internally generated — 159 — 159 — — — — — Disposals / retirements (2,933) (29) (237) (3,199) — — — — — Foreign currency translation adjustment (3,069) (180) (391) (3,640) 1,822 64 732 250 2,868 Subtotal 67,720 4,334 6,902 78,956 73,722 4,377 13,336 7,530 98,965 Accumulated amortization 31,970 1,242 613 33,825 21,837 644 — 66 22,547 Amortization 8,996 1,258 1,485 11,739 10,133 598 — 547 11,278 Impairment loss — — — — — — 13,336 — 13,336 Disposals / retirements (2,933) (29) (236) (3,198) — — — — — Subtotal 38,033 2,471 1,862 42,366 31,970 1,242 13,336 613 47,161 Net carrying amount 29,687 1,863 5,040 36,590 41,752 3,135 — 6,917 51,804 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
Annual Impairment Test of Five CGU's | As at March 31, 2021 Canada ADT France EPM US ERP US Total $ $ $ $ $ $ Beginning balance 26,950 7,694 150 10,012 32,802 77,608 Foreign currency translation adjustment — — (13) (1,097) (3,592) (4,702) Net carrying amount 26,950 7,694 137 8,915 29,210 72,906 As at March 31, 2020 Canada ADT France EPM US ERP US Total $ $ $ $ $ $ Beginning balance 20,060 9,794 1,836 12,296 35,648 79,634 Business acquisitions (note 3) 6,890 — — 3,374 — 10,264 Divestiture of subsidiary — — — — (576) (576) Impairment — (2,100) (1,700) (6,600) (4,300) (14,700) Foreign currency translation adjustment — — 14 942 2,030 2,986 Net carrying amount 26,950 7,694 150 10,012 32,802 77,608 |
Key Assumptions Used in Impairment Testing by CGU | Key assumptions used in impairment testing by CGU are as follows: As at March 31, 2021 Canada ADT France EPM US ERP US % % % % % After tax WACC 10.8 11.2 14.6 13.2 13.4 Long-term growth rate of net operating cash flows* 3.4 3.4 4.5 3.4 3.4 * The long-term growth rate is based on published industry research. As at March 31, 2020 Canada ADT France EPM US ERP US % % % % % After tax WACC 14.0 14.0 16.0 16.5 17.0 Long-term growth rate of net operating cash flows* 3.0 4.0 3.0 3.0 3.0 * The long-term growth rate is based on published industry research. |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | |
Summary of Accounts Payable and Accrued Liabilities | As at March 31, 2021 2020 $ $ Trade accounts payable 15,196 14,972 Accrued liabilities 12,478 13,998 Accrued compensation 21,098 18,411 Consumption taxes payable 2,662 2,241 Performance obligations in customer contracts 137 219 Provision — 486 51,571 50,327 |
Summary of Provision | The following table summarizes the provision recorded by the Group: As at March 31, 2021 2020 $ $ Beginning balance 486 154 Paid or otherwise settled (486) — Additional provision — 332 Ending balance — 486 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about borrowings [abstract] | |
Schedule of Long Term Debt | The following table summarizes the Group’s long-term debt: As at March 31, 2021 2020 $ $ Senior secured revolving credit facility (the "Credit Facility") (a) 31,023 37,615 Balance of purchase payable with a nominal value of $3,100,000, non-interest bearing (5.8% effective interest rate) payable April 3, 2022 2,988 2,877 Balance of purchase payable with a nominal value of $1,800,000, non-interest bearing (6.0% effective interest rate), payable on October 1, 2022 1,649 1,556 Balance of purchase payable with a nominal value of $8,579,919 ($6,825,000 US), non-interest bearing (6.0% effective interest rate), payable on December 13, 2022 7,770 8,232 Balance of purchase payable with a nominal value of $3,258,750, non-interest bearing (5.7% effective interest rate) payable on February 1, 2022 3,112 2,944 Unsecured promissory notes (US$4,800,000) (b) 6,034 — Deferral of employment tax deposits and payments (US$1,877,873) (c) 2,361 — Other 213 347 Unamortized transaction costs (net of accumulated amortization of $476,685 and $234,858) (199) (342) 54,951 53,229 Current portion of long-term debt 35,134 1,143 19,817 52,086 (a) The senior secured revolving credit facility is available to a maximum amount of $60,000,000 and can be drawn in Canadian and the equivalent amount in U.S. dollars. It is available in prime rate advances, LIBOR advances, bankers’ acceptances and letters of credit. The letters of credit exposure shall not exceed $2,500,000 at any time. The advances bear interest at the Canadian or U.S. prime rate, plus an applicable margin ranging from 0.00% to 1.50%, or bankers’ acceptances or LIBOR rates, plus an applicable margin ranging from 1.00% to 2.75%, as applicable for Canadian and U.S. advances, respectively. Until June 30, 2021, the applicable margin on the Canadian or U.S. advances and the bankers' acceptances and LIBOR advances is set at 1.50% and 2.75%, respectively. Thereafter, the applicable margin will be determined based on threshold limits for certain financial ratios. As at March 31, 2021, the advance drawn on the Credit Facility amount to US$3,200,000 ($4,022,819) (2020 - US$14,000,000 ($19,764,654)), and $27,000,000 (2020 - $17,850,000), in U.S. and Canadian dollars respectively. As at March 31, 2021, the U.S. advances bear interest at 2.85% (2020 - 1.86%) and the Canadian advances bear interest at 3.95% (2020 - 2.45%). As security for the Credit Facility, Alithya provided a first ranking hypothec on the universality of its assets excluding leased equipment and Investissement Quebec’s first ranking lien on tax credits receivable for the financing related to refundable tax credits, to a maximum of $7,500,000. Under the terms of the agreement, the Group is required to maintain certain financial covenants, which are measured on a quarterly basis. A monthly minimum availability test is also applicable until March 31, 2021. The Credit Facility matures on January 22, 2022 and is renewable for additional one-year periods at the lender’s discretion. As the maturity date of the Credit Facility is within twelve months after the reporting date, it has been classified as under the current portion of long-term debt. The Group does not anticipate any issue in renewing its Credit Facility before the maturity date. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 2020 Current tax expense $ $ Current tax expense for the year 1,515 237 Total current tax expense 1,515 237 Deferred tax expense (recovery) Origination and reversal of temporary differences (3,797) (3,202) Total deferred tax recovery (3,797) (3,202) Total income tax recovery (2,282) (2,965) |
Summary of Effective Income Tax Rate Differs from Federal and Provincial Statutory Tax Rate | The Group’s effective income tax rate differs from the combined Federal, U.S. State and Provincial Canadian statutory tax rate as follows: Year ended March 31, 2021 2020 % $ % $ Loss before income taxes (19,620) (42,632) Company's statutory tax rate 26.5 (5,199) 26.5 (11,297) Non-deductible share-based compensation expense (4.2) 815 (1.6) 689 Other non-deductible and tax exempt items (2.8) 549 (1.1) 490 Change in unrecognized deferred tax assets (10.6) 2,076 (15.9) 6,795 Impairment of intangibles and goodwill — — (0.7) 310 Other 2.7 (523) (0.1) 48 Effective income tax rate 11.6 (2,282) 7.1 (2,965) |
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, 2021 2020 $ $ Deferred tax liabilities (2,980) (4,057) Deferred tax assets 7,465 4,652 4,485 595 |
Summary of Movements in Temporary Differences | Movements in temporary differences during the year were as follows: As at March 31, 2021 March 31, 2020 Opening Recognized Recognized to other comprehensive loss Total Opening Recognized Business acquisitions Total $ $ $ $ $ $ $ $ Losses available for carryforward and other tax deductions 11,052 2,064 — 13,116 13,669 (2,884) 267 11,052 Deferred financing costs 700 (142) — 558 908 (211) 3 700 Total deferred tax assets 11,752 1,922 — 13,674 14,577 (3,095) 270 11,752 Intangibles and goodwill (7,873) 1,744 — (6,129) (11,499) 6,310 (2,684) (7,873) Tax credits and other (3,284) 131 93 (3,060) (2,148) (13) (1,123) (3,284) Total deferred tax liability (11,157) 1,875 93 (9,189) (13,647) 6,297 (3,807) (11,157) Net carrying amount 595 3,797 93 4,485 930 3,202 (3,537) 595 Losses available for carryforward for which no deferred tax asset was recognized Expiry date ( ¹ ) USA $ 2037 13,307 Indefinite 16,315 29,622 (1) Net operating losses amounting to $19,779,000 of which $13,307,000 will expire in 2037, are limited due to the U.S. tax rules applicable on the acquisition of Alithya USA, Inc. (formerly “Edgewater Technology Inc.”) in the year end March 31, 2019. In addition, the Company has i) state losses amounting to $28,409,000 (with expiry dates ranging from 2022 to 2041) and ii) deductible temporary differences totaling $23,309,000 for which no deferred tax benefit has been recognized. |
Share Capital and Dividends (Ta
Share Capital and Dividends (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of classes of share capital [abstract] | |
Summary of Issued Share Capital | As at March 31, 2021, the issued share capital of the Company is as follows: Subordinate Voting Shares Multiple Voting Shares Number of shares $ Number of shares $ Beginning balance as at April 1, 2020 50,904,533 191,820 7,168,984 3,515 Share-based compensation on shares vested during the period, issued on business acquisitions 458,071 1,686 — — Exercise of stock options 3,500 14 152,632 470 Settlement of deferred share units 7,718 32 — — As at March 31, 2021 51,373,822 193,552 7,321,616 3,985 |
Summary of Transaction Activity Related to Class of Shares | Subordinate Voting Shares Multiple Voting Shares Number of shares $ Number of shares $ Beginning balance as at April 1, 2019 48,496,492 183,346 7,168,984 3,515 Share-based compensation on shares vested during the period, issued on business acquisitions — 407 — — Business acquisition of Matricis 473,646 1,800 — — Business acquisition of Travercent 1,274,510 3,870 — — Business acquisition of Askida 600,384 2,173 — — Exercise of stock options 53,987 201 — — Settlement of DSU 5,514 23 — — As at March 31, 2020 50,904,533 191,820 7,168,984 3,515 |
Summary of Option Activity | As at March 31, 2021 March 31, 2020 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price $ $ Beginning balance as at April 1, 2020 3,172,289 3.72 2,623,542 3.80 Granted 755,000 2.26 970,500 3.63 Forfeited (130,163) 4.93 (137,151) 4.88 Expired (115,813) 5.93 (230,615) 3.66 Exercised (156,132) 1.92 (53,987) 3.10 Ending balance as at March 31, 2021 3,525,181 3.37 3,172,289 3.72 Exercisable at year end 1,580,444 3.44 1,513,789 3.43 |
Schedule of Share Options Outstanding and Exercisable | 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, 2021 March 31, 2020 Exercise price (CAD) Number of options Weighted average Number of options Weighted average $ 1.90 210,528 2.50 363,160 2.45 1.92 100,000 1.00 100,000 2.00 2.21 115,000 3.02 115,000 4.02 2.26 570,000 9.23 — — 2.46 100,000 2.00 100,000 3.00 2.87 120,000 4.09 120,000 5.09 2.96 182,500 5.01 186,000 6.01 3.29 — — 2,000 6.67 3.64 418,000 8.23 418,000 9.23 3.65 85,000 1.37 85,000 2.38 3.80 227,500 6.14 249,500 7.14 3.90 20,000 7.88 20,000 8.88 4.50 459,000 7.59 463,000 8.59 2,607,528 6.30 2,221,660 6.12 As at March 31, 2021 March 31, 2020 Exercise price range (USD) Number of options Weighted average Number of options Weighted average $ 1.67 to 2.25 185,000 9.24 — — 2.26 to 3.85 532,550 6.98 599,960 7.98 3.86 to 4.45 20,856 0.89 23,240 1.74 4.59 to 4.85 47,672 0.49 154,141 1.10 4.90 to 5.45 131,575 1.00 173,288 2.42 917,653 6.09 950,629 5.70 |
Summary of Weighted Average Assumptions Used for Valuation of Share Options Granted | The number of Alithya stock options granted to employees during the year, the related compensation expense recorded, and the assumptions used to determine share-based compensation expense, using the Black-Scholes stock option pricing model, were as follows: Year ended March 31, 2021 2020 Compensation expense related to the options granted 156 318 Number of stock options granted 755,000 970,500 Weighted average fair value of options granted $0.81 $1.13 Aggregate fair value of options granted 609 1,096 Weighted average assumptions Share price $2.26 $3.63 Exercise price $2.26 $3.63 Risk-free interest rate 0.46 % 1.79 % Expected volatility* 34.9 % 30.0 % Dividend yield — — Expected option life (years) 6.6 5.7 Vesting conditions – time (years) 3.3 2.7 * Determined on the basis of observed volatility in publicly traded companies operating in similar industries. |
Summary of Share based Compensation | Year ended March 31, 2021 2020 $ $ Stock option plan 700 745 Share purchase plan – employer contribution 653 633 Share-based compensation on shares vested during the period, issued on business acquisitions 4,051 1,868 Deferred share units 523 305 Restricted share units 314 — 6,241 3,551 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 Technology licenses, infrastructure and other Total 2022 2,143 2023 462 2024 270 2025 156 Thereafter 82 3,113 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 2020 Director compensation, and key management salaries and benefits* 4,427 4,058 Share-based compensation 1,273 680 5,700 4,738 * Salaries and benefits include short-term incentive compensation. |
Summary of Operating Transactions with Shareholders | The transactions have been recorded at the exchange amount, which represents the contractual amount of consideration established and accepted by the related parties. There were no such transactions during the year ended March 31, 2021 |
Earnings Per Share (Table)
Earnings Per Share (Table) | 12 Months Ended |
Mar. 31, 2021 | |
Earnings per share [abstract] | |
Earnings Per Share | March 31, 2021 2020 $ $ Net loss (17,338) (39,667) Weighted average number of common shares outstanding 58,209,375 56,399,499 Basic and diluted loss per share (0.30) (0.70) |
Reconciliation of Liabilities_2
Reconciliation of Liabilities Arising from Financing Activities (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
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, 2021 March 31, 2020 Current Long-term Total Line of credit and demand loan Current Long-term Total $ $ $ $ $ $ $ Beginning balance 1,143 52,086 53,229 — 1,000 27,305 28,305 Repayment — (49,867) (49,867) (3,153) (4,273) (50,136) (57,562) Proceeds — 53,471 53,471 — 2,517 61,576 64,093 Total cash flow — 3,604 3,604 (3,153) (1,756) 11,440 6,531 Acquisitions — — — 3,153 1,105 11,856 16,114 Amortization of finance costs — 242 242 — — 231 231 Interest accretion on balances of purchase payable — 835 835 — — 318 318 PPP loan forgiveness — (1,898) (1,898) — — — — Impacts of foreign exchange 270 (1,331) (1,061) — — 1,730 1,730 Reclassification Credit Facility (note 10) 31,023 (31,023) — — — — — Reclassification other long-term debt 2,698 (2,698) — — 794 (794) — Total non cash 33,991 (35,873) (1,882) 3,153 1,899 13,341 18,393 Ending balance 35,134 19,817 54,951 — 1,143 52,086 53,229 |
Additional Information on Con_2
Additional Information on Consolidated Loss (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Profit (loss) [abstract] | |
Schedule Of Additional Information On Consolidated Income Loss Explanatory | The following table provides additional information on the consolidated loss: March 31, As at 2021 2020 $ $ Revenue – contingent rental (1) — 1,532 Employee compensation costs 210,800 194,678 Government assistance - tax credits (2) (6,737) (4,815) - grants and loan forgiveness (3) (6,530) — Selling expenses (4) 46,271 44,084 General and administrative expenses (4) 35,452 32,698 Depreciation of property and equipment 1,861 1,278 Depreciation of right-of-use assets 1,906 2,090 (1) The Company acted as a lessor in operating leases related to the use of premises. (2) Included in cost of sales (3) $5,362,516 and $1,167,658 are included in cost of sales and selling, general and administrative expenses, respectively. (4) Including related employee compensation costs. |
Financial Expenses (Tables)
Financial Expenses (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Financial Expense [Abstract] | |
Summary of Financial Expenses | The following table summarizes financial expenses: March 31, As at 2021 2020 $ $ Interest on long-term debt 1,185 1,155 Interest and financing charges 448 306 Interest on lease liabilities 595 375 Amortization of finance costs 242 231 Interest accretion on balances of purchase payable 835 318 Interest income (31) (38) 3,274 2,347 |
Supplementary Cash Flow Infor_2
Supplementary Cash Flow Information (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Supplementary Cash Flow Information [Abstract] | |
Summary of Net Change In Non-Cash Working Capital Items | Net change in non-cash working capital items is as follows: March 31, As at 2021 2020 $ $ Accounts receivable and other receivables (5,289) 7,622 Income taxes receivable 1,450 (407) Unbilled revenue (2,154) 2,200 Tax credits receivable 28 185 Prepaids (944) 377 Accounts payable and accrued liabilities 5,504 (4,673) Deferred revenue 1,319 435 (86) 5,739 |
Segment and Geographical Inform
Segment and Geographical Information - (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of operating segments [abstract] | |
Summary of External Revenues and Long-lived Assets by Geographic Location | The following table presents total external revenues by geographic location: March 31, 2021 2020 $ % $ % Canada 162,764 56.6 147,821 53.0 U.S. 114,608 39.8 118,125 42.3 Europe 10,271 3.6 13,061 4.7 287,643 100.0 279,007 100.0 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, 2021 2020 $ % $ % Canada 62,172 48.2 64,143 43.3 U.S. 65,784 51.0 82,607 55.8 Europe 1,107 0.8 1,326 0.9 129,063 100.0 148,076 100.0 |
Summary of Revenue from Customers for Major Service Category | An analysis of the Group’s revenue from customers for each major service category is as follows: March 31, 2021 2020 $ % $ % System integration and consulting services 278,341 96.8 270,345 96.9 Payrolling services 1,241 0.4 1,289 0.5 Software revenue 8,061 2.8 7,373 2.6 287,643 100.0 279,007 100.0 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Schedule of Interest Rate Risk Profile of Borrowings | The interest rate risk profile of the Group's interest-bearing financial instruments was as follows: As at March 31, 2021 2020 $ $ Variable rate financial instruments Credit Facility (note 10) 31,023 37,615 Other long-term debt (note 10) 213 347 31,236 37,962 |
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, 2021 2020 USD USD Cash 681 1,258 Accounts receivable and other receivables 243 532 Accounts payable and accrued liabilities (1,609) (1,333) Credit Facility (4,023) (19,765) Net statement of financial position exposure (4,708) (19,308) |
Capital Disclosures (Tables)
Capital Disclosures (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Disclosure Of Capital Disclosures [Abstract] | |
Summary of Total Capital | Total capital as at March 31, 2021 and 2020 is calculated as follows: As at March 31, 2021 2020 $ $ Cash (6,903) (8,810) Restricted cash (3,233) (2,212) Current portion of long-term debt 35,134 1,143 Long-term debt 19,817 52,086 Share capital 197,537 195,335 Deficit (96,190) (78,780) Accumulated other comprehensive income (508) 6,123 Contributed surplus 7,173 4,691 152,827 169,576 |
Governing Statutes And Nature o
Governing Statutes And Nature of Operations - Additional Information (Details) | 12 Months Ended |
Mar. 31, 2021 | |
Governing Statutes And Nature Of Operations [Abstract] | |
Description of nature of entity's operations and principal activities | GOVERNING STATUTES AND NATURE OF OPERATIONSAlithya Group inc. (“Alithya” or the “Company”) and its subsidiaries (collectively with Alithya, the “Group”) are leaders in strategy and digital transformation. Alithya's integrated offering is based on four pillars of expertise: business strategy, application services, enterprise solutions and data and analytics. The Group deploys solutions, services, and skill sets to craft tools tailored to its client’s unique business needs in the financial services, manufacturing, energy, telecommunications, transportation and logistics, professional services, healthcare, and government sectors.The Company’s Class A subordinate voting shares (the “Subordinate Voting Shares”) trades 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, Quebec, Canada, H3B 3A5. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Primary Subsidiaries (Details) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Alithya Canada Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Canada Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Consulting Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Consulting Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Digital Technology Corporation | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Digital Technology Corporation | |
Name of subsidiary Jurisdiction | Ontario, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya France SAS (formerly Alithya Consulting SAS) | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya France SAS (formerly Alithya Consulting SAS) | |
Name of subsidiary Jurisdiction | France | |
Percentage Ownership | 100.00% | 100.00% |
Pro2p Services Conseils Inc [Member] | ||
Disclosure of subsidiaries [line items] | ||
Entity | Pro2p Services Conseils Inc. | |
Name of subsidiary Jurisdiction | Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya USA, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya USA, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Financial Solutions, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Financial Solutions, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Ranzal LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Ranzal LLC | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Zero2Ten, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Zero2Ten, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Fullscope Solutions, Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Fullscope Solutions, Inc. | |
Name of subsidiary Jurisdiction | Delaware, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Solutions Canada Inc [Member] | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Solutions Canada Inc. | |
Name of subsidiary Jurisdiction | Canada | |
Percentage Ownership | 100.00% | 100.00% |
Matricis Informatique Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Matricis Informatique Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Travercent LLC | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Travercent LLC | |
Name of subsidiary Jurisdiction | Texas, USA | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Askida Consulting Services Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Askida Consulting Services Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Alithya Askida Solutions Inc. | ||
Disclosure of subsidiaries [line items] | ||
Entity | Alithya Askida Solutions Inc. | |
Name of subsidiary Jurisdiction | Quebec, Canada | |
Percentage Ownership | 100.00% | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Depreciation Method of Property and Equipment (Details) | 12 Months Ended |
Mar. 31, 2021 | |
Furniture, fixtures and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method of property plant and equipment | Declining balance |
Depreciation Rates | 20.00% |
Computer equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method of property plant and equipment | Declining balance |
Depreciation Rates | 30.00% |
Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method of property plant and equipment | Straight line |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Amortization Method of Intangible Assets (Details) | 12 Months Ended |
Mar. 31, 2021 | |
Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Amortisation method of intangible assets | Straight line |
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 |
Tradenames | |
Disclosure of detailed information about intangible assets [line items] | |
Amortisation method of intangible assets | Indefinite |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Additional Information (Details) - CAD ($) $ in Thousands | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 | Apr. 01, 2019 |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Right-of-use assets | $ 11,118 | $ 11,492 | $ 11,492 | $ 6,509 |
Lease liabilities | $ 15,459 | $ 13,232 | $ 13,232 | $ 6,668 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Reconciliation from IAS 17 to IFRS 16 (Details) - CAD ($) $ in Thousands | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 | Apr. 01, 2019 |
Disclosure of initial application of standards or interpretations [line items] | ||||
Right-of-use assets | $ 11,118 | $ 11,492 | $ 11,492 | $ 6,509 |
Lease liabilities | (15,459) | (13,232) | (13,232) | (6,668) |
Gross lease liabilities | 17,866 | |||
Lease liabilities | $ 15,459 | $ 13,232 | $ 13,232 | $ 6,668 |
Business Combinations, Divest_3
Business Combinations, Divestiture and Private Placement - Matricis Informatique Inc. (Details) - Matricis Informatique Inc. $ in Thousands | Oct. 01, 2019CAD ($)installmentshares | Mar. 31, 2020CAD ($) | Mar. 31, 2021shares | Mar. 31, 2020CAD ($)shares | Oct. 01, 2022shares |
Disclosure of detailed information about business combination [line items] | |||||
Interests acquired | 100.00% | ||||
Consideration paid | $ 7,200 | ||||
Cash payable | $ 3,600 | ||||
Number of equal installments | installment | 2 | ||||
Equity interest issued or issuable | $ 3,600 | ||||
Issuance of shares on business acquisition (in shares) | shares | 473,646 | ||||
Acquisition related costs | $ 157 | ||||
Revenue from business acquired | $ 2,497 | ||||
Gross margin from business acquired | 1,100 | ||||
Profit (loss) from business acquired | $ 84 | ||||
Proforma revenue | 4,824 | ||||
Proforma gross margin | 2,028 | ||||
Proforma profit (loss) before income taxes | $ (144) | ||||
Subordinate Voting Shares | |||||
Disclosure of detailed information about business combination [line items] | |||||
Share consideration payable (in shares) | shares | 947,292 | 473,646 | |||
Issuance of shares on business acquisition (in shares) | shares | 473,646 | 157,882 | 473,646 | ||
Aggregate value | $ 1,800 |
Business Combinations, Divest_4
Business Combinations, Divestiture and Private Placement - Summary of Preliminary Allocation of Fair Value of Assets Acquired and Liabilities Assumed (Details) - CAD ($) $ in Thousands | Feb. 01, 2020 | Dec. 13, 2019 | Oct. 01, 2019 |
Matricis Informatique Inc. | |||
Disclosure of detailed information about business combination [line items] | |||
Cash | $ 467 | ||
Accounts receivable and other receivables | 584 | ||
Unbilled revenue | 288 | ||
Prepaids | 94 | ||
Current assets | 1,433 | ||
Property and equipment | 85 | ||
Tax credits receivable | 1,059 | ||
Deferred tax assets | 111 | ||
Intangibles | 1,820 | ||
Goodwill | 2,566 | ||
Total assets acquired | 7,074 | ||
Accounts payable and accrued liabilities | 596 | ||
Deferred revenue | 415 | ||
Current portion of long-term debt | 544 | ||
Current liabilities | 1,555 | ||
Deferred lease inducements | 6 | ||
Deferred tax liabilities | 624 | ||
Total liabilities assumed | 2,185 | ||
Net assets acquired | $ 4,889 | ||
Alithya Travercent LLC | |||
Disclosure of detailed information about business combination [line items] | |||
Cash | $ 2,118 | ||
Accounts receivable and other receivables | 1,391 | ||
Unbilled revenue | 1,458 | ||
Prepaids | 49 | ||
Current assets | 5,016 | ||
Intangibles | 15,720 | ||
Goodwill | 3,374 | ||
Total assets acquired | 24,110 | ||
Accounts payable and accrued liabilities | 1,331 | ||
Deferred revenue | 2,301 | ||
Total liabilities assumed | 3,632 | ||
Net assets acquired | $ 20,478 | ||
Askida Inc. | |||
Disclosure of detailed information about business combination [line items] | |||
Cash | $ 616 | ||
Accounts receivable and other receivables | 4,324 | ||
Unbilled revenue | 581 | ||
Tax credits receivable | 2,709 | ||
Prepaids | 229 | ||
Current assets | 8,459 | ||
Property and equipment | 244 | ||
Tax credits receivable | 956 | ||
Right-of-use assets | 193 | ||
Intangibles | 8,410 | ||
Goodwill | 4,324 | ||
Total assets acquired | 22,586 | ||
Line of credit | 1,022 | ||
Demand loan | 2,131 | ||
Accounts payable and accrued liabilities | 1,789 | ||
Income taxes payable | 62 | ||
Deferred revenue | 318 | ||
Current portion of lease liabilities | 84 | ||
Current portion of long-term debt | 561 | ||
Current liabilities | 5,967 | ||
Lease liabilities | 109 | ||
Deferred tax liabilities | 3,024 | ||
Total liabilities assumed | 9,100 | ||
Net assets acquired | $ 13,486 |
Business Combinations, Divest_5
Business Combinations, Divestiture and Private Placement - Summary of Acquisition Date Fair Value of Each Major Class of Consideration Transferred (Details) | Feb. 01, 2022CAD ($) | Feb. 01, 2020CAD ($)shares | Dec. 13, 2019CAD ($)shares | Oct. 01, 2019CAD ($)shares |
Matricis Informatique Inc. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Cash paid | $ 1,578,000 | |||
Issuance of shares | 1,800,000 | |||
Balance of purchase payable (note 10) | 1,511,000 | |||
Total consideration transferred | $ 4,889,000 | |||
Number of instruments issued (in shares) | shares | 473,646 | |||
Alithya Travercent LLC | ||||
Disclosure of detailed information about business combination [line items] | ||||
Cash paid | $ 8,958,000 | |||
Issuance of shares | 3,870,000 | |||
Balance of purchase payable (note 10) | 7,650,000 | |||
Total consideration transferred | $ 20,478,000 | |||
Number of instruments issued (in shares) | shares | 1,274,510 | |||
Askida Inc. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Cash paid | $ 3,258,750 | $ 8,396,250 | ||
Issuance of shares | 2,173,000 | |||
Balance of purchase payable (note 10) | 2,917,000 | |||
Total consideration transferred | $ 13,486,000 | |||
Number of instruments issued (in shares) | shares | 600,384 |
Business Combinations, Divest_6
Business Combinations, Divestiture and Private Placement - Alithya Travercent LLC (Details) - Alithya Travercent LLC $ in Thousands | Dec. 13, 2020CAD ($) | Dec. 13, 2019CAD ($)Clientshares | Dec. 13, 2019USD ($)Clientshares | Mar. 31, 2020CAD ($) | Mar. 31, 2020CAD ($)shares | Dec. 13, 2022CAD ($) | Dec. 13, 2022USD ($) | Dec. 13, 2019USD ($) |
Disclosure of detailed information about business combination [line items] | ||||||||
Interests acquired | 100.00% | 100.00% | ||||||
Consideration paid | $ 25,802,849 | $ 19,500 | ||||||
Cash payable | $ 18,061,994 | $ 13,650 | ||||||
Number of equal installments | Client | 2 | 2 | ||||||
Aggregate value | $ 7,740,855 | 5,850 | ||||||
Issuance of shares on business acquisition (in shares) | shares | 1,274,510 | |||||||
Issuance of shares | 3,870,000 | |||||||
Acquisition related costs | $ 565,000 | |||||||
Revenue from business acquired | $ 4,833,000 | |||||||
Gross margin from business acquired | 1,909,000 | |||||||
Profit (loss) from business acquired | $ 1,029,000 | |||||||
Proforma revenue | 15,789,000 | |||||||
Proforma gross margin | 6,329,000 | |||||||
Proforma profit (loss) before income taxes | $ 4,319,000 | |||||||
Subordinate Voting Shares | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Aggregate value | $ 3,870,427 | $ 2,925 | ||||||
Issuance of shares on business acquisition (in shares) | shares | 1,274,510 | 1,274,510 | 1,274,510 | |||||
Equity interest issued or issuable | $ 1,276,175 | $ 1,290,142 | $ 975 |
Business Combinations, Divest_7
Business Combinations, Divestiture and Private Placement - Askida (Details) - Askida Inc. | Feb. 01, 2022CAD ($)shares | Feb. 01, 2021shares | Feb. 01, 2020CAD ($)installmentshares | Mar. 31, 2020CAD ($) | Mar. 31, 2021shares | Mar. 31, 2020CAD ($)shares |
Disclosure of detailed information about business combination [line items] | ||||||
Interests acquired | 100.00% | |||||
Consideration paid | $ 16,000,000 | |||||
Cash payable | $ 11,655,000 | |||||
Number of equal installments | installment | 2 | |||||
Cash consideration for acquisition | $ 3,258,750 | $ 8,396,250 | ||||
Aggregate value | 4,345,000 | |||||
Issuance of shares on business acquisition (in shares) | shares | 600,384 | |||||
Acquisition related costs | $ 265,000 | |||||
Revenue from business acquired | $ 1,708,000 | |||||
Gross margin from business acquired | 210,000 | |||||
Profit (loss) from business acquired | $ 499,000 | |||||
Proforma revenue | 12,465,000 | |||||
Proforma gross margin | 3,914,000 | |||||
Proforma profit (loss) before income taxes | $ (87,000) | |||||
Subordinate Voting Shares | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Aggregate value | $ 2,172,500 | |||||
Share consideration payable (in shares) | shares | 1,200,765 | |||||
Issuance of shares on business acquisition (in shares) | shares | 300,192 | 300,189 | 600,384 | 300,189 | 600,384 |
Business Combinations, Divest_8
Business Combinations, Divestiture and Private Placement - Zero2Ten EMEA Limited (Details) - Zero2Ten EMEA Limited [Member] £ in Thousands, $ in Thousands | Oct. 02, 2019GBP (£) | Oct. 02, 2019CAD ($) | Mar. 31, 2021GBP (£) | Mar. 31, 2021CAD ($) | Oct. 02, 2019CAD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations1 [Line Items] | |||||
Percentage of voting equity sold | 100.00% | 100.00% | |||
Total consideration | £ 800 | $ 1,293 | |||
Consideration received in cash | £ 350 | $ 565 | |||
Revalued consideration | 1,302 | ||||
Balance of sale receivable | £ 450 | $ 791 | $ 728 |
Business Combinations, Divest_9
Business Combinations, Divestiture and Private Placement - Gain on Disposal of Subsidiary (Details) £ in Thousands, $ in Thousands | Oct. 02, 2019CAD ($) | Oct. 02, 2019GBP (£) | Mar. 31, 2021CAD ($) | Mar. 31, 2020CAD ($) | Mar. 31, 2021GBP (£) | Oct. 02, 2019GBP (£) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations1 [Line Items] | ||||||
Gain on disposal of subsidiary | $ 0 | $ 681 | ||||
Zero2Ten EMEA Limited [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations1 [Line Items] | ||||||
Consideration received in cash | $ 565 | £ 350 | ||||
Balance of sale receivable | 728 | $ 791 | £ 450 | |||
Total consideration | 1,293 | £ 800 | ||||
Assets (liabilities) | 612 | |||||
Gain on disposal of subsidiary | $ 681 |
Business Combinations, Dives_10
Business Combinations, Divestiture and Private Placement - Alithya USA Inc. (formally Edgewater Technologies Inc.) (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of detailed information about business combination [line items] | ||
Deferred income tax | $ (3,797) | $ (3,202) |
Accounts Receivable And Other_3
Accounts Receivable And Other Receivables - Summary of Accounts Receivable and Other Receivable (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Concentration Risk1 [Line Items] | ||
Trade accounts receivable, net | $ 67,049 | $ 59,537 |
Trade accounts receivable from shareholders exercising significant influence | 0 | 6,718 |
Other receivables | 2,314 | 1,407 |
Trade and other current receivables | $ 69,363 | $ 67,662 |
Trade accounts receivable | One customer | ||
Concentration Risk1 [Line Items] | ||
Concentration percentage | 16.00% | 10.00% |
Revenues | One customer | ||
Concentration Risk1 [Line Items] | ||
Concentration percentage | 11.00% |
Accounts Receivable And Other_4
Accounts Receivable And Other Receivables - Additional Information (Details) | 12 Months Ended |
Mar. 31, 2021 | |
Revenues | One customer | |
Concentration Risk1 [Line Items] | |
Concentration percentage | 11.00% |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | $ 7,172 | |
Depreciation, property, plant and equipment | 1,861 | $ 1,278 |
Subtotal | 8,449 | 7,172 |
Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 11,134 | 6,079 |
Additions | 3,430 | 5,923 |
Additions through business acquisitions | 0 | 328 |
Disposals / retirements | (3,473) | (1,345) |
Foreign currency translation adjustment | (315) | 149 |
Subtotal | 10,776 | 11,134 |
Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (3,962) | (3,740) |
Depreciation, property, plant and equipment | 1,861 | 1,278 |
Disposals / retirements | 3,255 | 1,159 |
Foreign currency translation adjustment | 241 | (103) |
Subtotal | (2,327) | (3,962) |
Furniture, fixtures and equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 1,634 | |
Subtotal | 1,627 | 1,634 |
Furniture, fixtures and equipment | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 2,333 | 1,435 |
Additions | 553 | 1,313 |
Additions through business acquisitions | 0 | 67 |
Disposals / retirements | (1,150) | (490) |
Foreign currency translation adjustment | 2 | 8 |
Subtotal | 1,738 | 2,333 |
Furniture, fixtures and equipment | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (699) | (866) |
Depreciation, property, plant and equipment | 381 | 226 |
Disposals / retirements | 964 | 397 |
Foreign currency translation adjustment | 5 | (4) |
Subtotal | (111) | (699) |
Computer equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 1,438 | |
Subtotal | 1,789 | 1,438 |
Computer equipment | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 3,190 | 2,800 |
Additions | 1,195 | 886 |
Additions through business acquisitions | 0 | 239 |
Disposals / retirements | (1,217) | (855) |
Foreign currency translation adjustment | (279) | 120 |
Subtotal | 2,889 | 3,190 |
Computer equipment | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (1,752) | (1,874) |
Depreciation, property, plant and equipment | 765 | 543 |
Disposals / retirements | 1,188 | 762 |
Foreign currency translation adjustment | 229 | (97) |
Subtotal | (1,100) | (1,752) |
Leasehold improvements | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 4,100 | |
Subtotal | 5,033 | 4,100 |
Leasehold improvements | Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | 5,611 | 1,844 |
Additions | 1,682 | 3,724 |
Additions through business acquisitions | 0 | 22 |
Disposals / retirements | (1,106) | 0 |
Foreign currency translation adjustment | (38) | 21 |
Subtotal | 6,149 | 5,611 |
Leasehold improvements | Accumulated Depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Cost | (1,511) | (1,000) |
Depreciation, property, plant and equipment | 715 | 509 |
Disposals / retirements | 1,103 | 0 |
Foreign currency translation adjustment | 7 | (2) |
Subtotal | $ (1,116) | $ (1,511) |
Leases - Right-of-use Assets (D
Leases - Right-of-use Assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Leases [Abstract] | ||
Beginning balance as at April 1, 2020 and 2019 | $ 11,492 | |
Additions | 2,611 | $ 7,262 |
Terminations | 0 | (381) |
Depreciation | (1,906) | (2,090) |
Reassessment | (830) | 0 |
Lease inducement allowance | 28 | 3 |
Exchange rate effect | (277) | 189 |
Ending balance | $ 11,118 | $ 11,492 |
Leases - Lease Liabilities (Det
Leases - Lease Liabilities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Leases [Abstract] | ||
Beginning balance as at April 1, 2020 and 2019 | $ 13,232 | |
Additions | 2,611 | $ 7,257 |
Terminations | 0 | (381) |
Lease payments | (1,992) | (2,129) |
Lease Incentive | 2,243 | 1,249 |
Lease interest | 595 | 375 |
Reassessment | (830) | 0 |
Concession | (110) | 0 |
Exchange rate effect | (290) | 193 |
Ending balance | 15,459 | 13,232 |
Current portion | 1,923 | 1,559 |
Non-current portion | $ 13,536 | $ 11,673 |
Leases - Contractual Lease Paym
Leases - Contractual Lease Payments (Details) $ in Thousands | Mar. 31, 2021CAD ($) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | $ 17,866 |
Less than one year | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 2,482 |
One to two years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 2,602 |
Two to five years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | 6,756 |
Later than five years [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Gross lease liabilities | $ 6,026 |
Leases - Amounts Recognized in
Leases - Amounts Recognized in Net Loss (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Leases [Abstract] | ||
Interest on lease liabilities | $ 595,000 | $ 375,000 |
Expenses relating to short-term leases | 0 | 122,000 |
Variable lease payments | 2,487,000 | 1,134,000 |
Amounts recognized in net loss | 3,082,000 | 1,631,000 |
Total cash outflow for leases | $ 4,478,817 | $ 3,385,058 |
Intangibles - Summary of Intang
Intangibles - Summary of Intangible Assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | $ 36,590 | $ 51,804 | |
Amortisation, intangible assets other than goodwill | 11,739 | 11,278 | |
Impairment | 13,336 | ||
Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 85,629 | $ 70,098 | |
Additions, purchased | 7 | 49 | |
Additions through business acquisitions | 0 | 25,950 | |
Additions, internally generated | 159 | 0 | |
Disposals / retirements | (3,199) | ||
Foreign currency translation adjustment | (3,640) | 2,868 | |
Subtotal | 78,956 | 98,965 | |
Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 33,825 | 22,547 | |
Amortization Expense | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortisation, intangible assets other than goodwill | 11,739 | 11,278 | |
Accumulated Impairment | |||
Disclosure of detailed information about intangible assets [line items] | |||
Disposals / retirements | (3,198) | ||
Impairment | 0 | 13,336 | |
Accumulated Depreciation | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 42,366 | 47,161 | |
Customer relationships | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 29,687 | 41,752 | |
Customer relationships | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 73,722 | 55,823 | |
Additions, purchased | 0 | 0 | |
Additions through business acquisitions | 0 | 16,077 | |
Additions, internally generated | 0 | 0 | |
Disposals / retirements | (2,933) | ||
Foreign currency translation adjustment | (3,069) | 1,822 | |
Subtotal | 67,720 | 73,722 | |
Customer relationships | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 31,970 | 21,837 | |
Customer relationships | Amortization Expense | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortisation, intangible assets other than goodwill | 8,996 | 10,133 | |
Customer relationships | Accumulated Impairment | |||
Disclosure of detailed information about intangible assets [line items] | |||
Disposals / retirements | (2,933) | ||
Impairment | 0 | 0 | |
Customer relationships | Accumulated Depreciation | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 38,033 | 31,970 | |
Software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 1,863 | 3,135 | |
Software | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 4,377 | 1,355 | |
Additions, purchased | 7 | 49 | |
Additions through business acquisitions | 0 | 2,909 | |
Additions, internally generated | 159 | 0 | |
Disposals / retirements | (29) | ||
Foreign currency translation adjustment | (180) | 64 | |
Subtotal | 4,334 | 4,377 | |
Software | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 1,242 | 644 | |
Software | Amortization Expense | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortisation, intangible assets other than goodwill | 1,258 | 598 | |
Software | Accumulated Impairment | |||
Disclosure of detailed information about intangible assets [line items] | |||
Disposals / retirements | (29) | ||
Impairment | 0 | 0 | |
Software | Accumulated Depreciation | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 2,471 | 1,242 | |
Tradename | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 0 | ||
Tradename | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 12,604 | ||
Additions, purchased | 0 | ||
Additions through business acquisitions | 0 | ||
Additions, internally generated | 0 | ||
Foreign currency translation adjustment | 732 | ||
Subtotal | 13,336 | ||
Tradename | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 0 | ||
Tradename | Amortization Expense | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortisation, intangible assets other than goodwill | 0 | ||
Tradename | Accumulated Impairment | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment | 13,336 | ||
Tradename | Accumulated Depreciation | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 13,336 | ||
Non-competition Agreements | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 5,040 | 6,917 | |
Non-competition Agreements | Cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 7,530 | 316 | |
Additions, purchased | 0 | 0 | |
Additions through business acquisitions | 0 | 6,964 | |
Additions, internally generated | 0 | 0 | |
Disposals / retirements | (237) | ||
Foreign currency translation adjustment | (391) | 250 | |
Subtotal | 6,902 | 7,530 | |
Non-competition Agreements | Accumulated Amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | 613 | $ 66 | |
Non-competition Agreements | Amortization Expense | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortisation, intangible assets other than goodwill | 1,485 | 547 | |
Non-competition Agreements | Accumulated Impairment | |||
Disclosure of detailed information about intangible assets [line items] | |||
Disposals / retirements | (236) | ||
Impairment | 0 | 0 | |
Non-competition Agreements | Accumulated Depreciation | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangibles | $ 1,862 | $ 613 |
Intangibles - Additional Inform
Intangibles - Additional Information (Details) $ in Thousands | 12 Months Ended |
Mar. 31, 2020CAD ($) | |
Disclosure of detailed information about intangible assets [abstract] | |
Impairment | $ 13,336 |
Goodwill - Annual Impairment Te
Goodwill - Annual Impairment Test of Five CGU's (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | $ 77,608 | |
Net carrying amount | 72,906 | $ 77,608 |
Cash Generating Units | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 77,608 | 79,634 |
Business acquisitions (note 3) | 10,264 | |
Divestiture of subsidiary | (576) | |
Impairment loss | (14,700) | |
Foreign currency translation adjustment | (4,702) | 2,986 |
Net carrying amount | 72,906 | 77,608 |
Cash Generating Units | Canada | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 26,950 | 20,060 |
Business acquisitions (note 3) | 6,890 | |
Divestiture of subsidiary | 0 | |
Impairment loss | 0 | |
Foreign currency translation adjustment | 0 | 0 |
Net carrying amount | 26,950 | 26,950 |
Cash Generating Units | ADT | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 7,694 | 9,794 |
Business acquisitions (note 3) | 0 | |
Divestiture of subsidiary | 0 | |
Impairment loss | (2,100) | |
Foreign currency translation adjustment | 0 | 0 |
Net carrying amount | 7,694 | 7,694 |
Cash Generating Units | France | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 150 | 1,836 |
Business acquisitions (note 3) | 0 | |
Divestiture of subsidiary | 0 | |
Impairment loss | (1,700) | |
Foreign currency translation adjustment | (13) | 14 |
Net carrying amount | 137 | 150 |
Cash Generating Units | US | EPM US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 10,012 | 12,296 |
Business acquisitions (note 3) | 3,374 | |
Divestiture of subsidiary | 0 | |
Impairment loss | (6,600) | |
Foreign currency translation adjustment | (1,097) | 942 |
Net carrying amount | 8,915 | 10,012 |
Cash Generating Units | US | ERP US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 32,802 | 35,648 |
Business acquisitions (note 3) | 0 | |
Divestiture of subsidiary | (576) | |
Impairment loss | (4,300) | |
Foreign currency translation adjustment | (3,592) | 2,030 |
Net carrying amount | $ 29,210 | $ 32,802 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used in Impairment Testing by CGU (Details) - Cash Generating Units | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Canada | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 10.80% | 14.00% |
Long-term growth rate of net operating cash flows | 3.40% | 3.00% |
Percentage Incremental Increase Of After Tax W A C C | 4.20% | |
Percentage Of Incremental Increase Long Term Growth Rate Of Net Operating Cash Flows | 5.70% | |
ADT | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 11.20% | 14.00% |
Long-term growth rate of net operating cash flows | 3.40% | 4.00% |
France | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 14.60% | 16.00% |
Long-term growth rate of net operating cash flows | 4.50% | 3.00% |
US | EPM US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 13.20% | 16.50% |
Long-term growth rate of net operating cash flows | 3.40% | 3.00% |
US | ERP US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
After tax WACC | 13.40% | 17.00% |
Long-term growth rate of net operating cash flows | 3.40% | 3.00% |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - CAD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | |||
Trade accounts payable | $ 15,196 | $ 14,972 | |
Accrued liabilities | 12,478 | 13,998 | |
Accrued compensation | 21,098 | 18,411 | |
Consumption taxes payable | 2,662 | 2,241 | |
Performance obligations in customer contracts | 137 | 219 | |
Provision | 0 | 486 | $ 154 |
Accounts payable and accrued liabilities | $ 51,571 | $ 50,327 |
Accounts Payable and Accrued _4
Accounts Payable and Accrued Liabilities - Summary of Provision (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure Of Detailed Information About Accounts Payable And Accrued Liabilities [Abstract] | ||
Beginning balance | $ 486 | $ 154 |
Paid or otherwise settled | (486) | 0 |
Additional provision | 0 | 332 |
Ending balance | $ 0 | $ 486 |
Long-term Debt - Schedule of Lo
Long-term Debt - Schedule of Long Term Debt (Details) | Mar. 31, 2021CAD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2020CAD ($) |
Disclosure of detailed information about borrowings [line items] | |||
Accumulated amortization | $ 476,685 | $ 234,858 | |
Deferral of employment tax deposits and payments | 2,361,000 | $ 1,877,873 | 0 |
Other | 213,000 | 347,000 | |
Unamortized transaction costs (net of accumulated amortization of $476,685 and $234,858) | (199,000) | (342,000) | |
Borrowings | 54,951,000 | 53,229,000 | |
Current portion of long-term debt | 35,134,000 | 1,143,000 | |
Long-term debt | 19,817,000 | 52,086,000 | |
Senior secured revolving credit facility (the "Credit Facility") | |||
Disclosure of detailed information about borrowings [line items] | |||
Senior secured revolving credit facility (the “Credit Facility”) | 31,023,000 | 37,615,000 | |
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 | $ 2,988,000 | 2,877,000 | |
Maturity October 1, 2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings, nominal value | $ 1,800,000 | ||
Interest rate | 6.00% | 6.00% | |
Balance of purchase payable with a nominal value | $ 1,649,000 | 1,556,000 | |
Maturity December 13, 2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings, nominal value | $ 8,579,919 | $ 6,825,000 | |
Interest rate | 6.00% | 6.00% | |
Balance of purchase payable with a nominal value | $ 7,770,000 | 8,232,000 | |
Maturity February 1, 2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings, nominal value | $ 3,258,750 | ||
Interest rate | 5.70% | 5.70% | |
Balance of purchase payable with a nominal value | $ 3,112,000 | 2,944,000 | |
PPP Loan | |||
Disclosure of detailed information about borrowings [line items] | |||
Unsecured promissory notes | $ 6,034,000 | $ 4,800,000 | $ 0 |
Long-term Debt - Schedule of _2
Long-term Debt - Schedule of Long Term Debt Footnotes (Details) | 12 Months Ended | ||||
Mar. 31, 2021CAD ($)subsidiaryloan | Jun. 30, 2021 | Mar. 31, 2021USD ($)subsidiaryloan | Mar. 31, 2020CAD ($) | Mar. 31, 2020USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||||
Years subject to subsequent audit by the SBA | 6 years | ||||
Number of group subsidiaries | subsidiary | 3 | 3 | |||
Number of PPP loans | loan | 2 | 2 | |||
LIBOR Advances | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Maximum amount available | $ 60,000,000 | $ 60,000,000 | |||
Letters Of Credit | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Maximum amount available | 2,500,000 | ||||
Credit Facility | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Maximum tax credits receivable for financing related to refundable tax credits | $ 7,500,000 | ||||
Credit Facility | Canadian or US prime rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 1.50% | ||||
Credit Facility | Canadian or US prime rate | Bottom of range | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 0.00% | 0.00% | |||
Credit Facility | Canadian or US prime rate | Top of range | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 1.50% | 1.50% | |||
Credit Facility | Bankers’ acceptances or LIBOR rates | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 2.75% | ||||
Credit Facility | Bankers’ acceptances or LIBOR rates | Bottom of range | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 1.00% | 1.00% | |||
Credit Facility | Bankers’ acceptances or LIBOR rates | Top of range | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 2.75% | 2.75% | |||
Credit Facility | US base rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 2.85% | 2.85% | 1.86% | 1.86% | |
Credit Facility | Canadian advance applicable margin | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Percentage added to reference rate | 3.95% | 3.95% | 2.45% | 2.45% | |
Recognized as government assistance | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, nominal value | $ 1,897,515 | $ (1,500,000) | |||
First remaining | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, nominal value | 3,174,256 | 2,525,000 | |||
Second remaining | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, nominal value | 2,859,973 | 2,275,000 | |||
PPP And Cares Act Covid-19 Loans | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, nominal value | 7,931,744 | 6,300,000 | |||
USD | Credit Facility | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Advance drawn amount | 4,022,819 | $ 3,200,000 | $ 19,764,654 | $ 14,000,000 | |
CAD | Credit Facility | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Advance drawn amount | $ 27,000,000 | $ 17,850,000 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense (Recovery) (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Current tax expense | ||
Current tax expense for the year | $ 1,515 | $ 237 |
Total current tax expense | 1,515 | 237 |
Deferred tax expense (recovery) | ||
Origination and reversal of temporary differences | (3,797) | (3,202) |
Total deferred tax recovery | (3,797) | (3,202) |
Total tax expense (income) | $ (2,282) | $ (2,965) |
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, 2021 | Mar. 31, 2020 | |
Percent | ||
Company's statutory tax rate | 26.50% | 26.50% |
Non-deductible share-based compensation expense | (4.20%) | (1.60%) |
Other non-deductible and tax exempt items | (2.80%) | (1.10%) |
Change in unrecognized deferred tax assets | (10.60%) | (15.90%) |
Impairment of intangibles and goodwill | 0.00% | (0.70%) |
Other | 2.70% | (0.10%) |
Total average effective tax rate | 11.60% | 7.10% |
Amount | ||
Loss before income taxes | $ (19,620) | $ (42,632) |
Company's statutory tax rate | (5,199) | (11,297) |
Non-deductible share-based compensation expense | 815 | 689 |
Other non-deductible and tax exempt items | 549 | 490 |
Change in unrecognized deferred tax assets | 2,076 | 6,795 |
Impairment of intangibles and goodwill | 0 | 310 |
Other | (523) | 48 |
Total tax expense (income) | $ (2,282) | $ (2,965) |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Deferred Tax Liabilities (Details) - CAD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Major components of tax expense (income) [abstract] | ||
Deferred tax liabilities | $ (2,980) | $ (4,057) |
Deferred tax assets | 7,465 | 4,652 |
Total | $ 4,485 | $ 595 |
Income Taxes - Summary of Movem
Income Taxes - Summary of Movements in Temperory Differences (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | $ 595 | |
Recognized to other comprehensive loss | (3,797) | $ (3,202) |
Total | 4,485 | 595 |
Deferred Tax Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 11,752 | 14,577 |
Recognized in earning | 1,922 | (3,095) |
Recognized to other comprehensive loss | 0 | |
Business acquisition | 270 | |
Total | 13,674 | 11,752 |
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 | 11,052 | 13,669 |
Recognized in earning | 2,064 | (2,884) |
Recognized to other comprehensive loss | 0 | |
Business acquisition | 267 | |
Total | 13,116 | 11,052 |
Deferred Tax Assets | Deferred financing costs | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 700 | 908 |
Recognized in earning | (142) | (211) |
Recognized to other comprehensive loss | 0 | |
Business acquisition | 3 | |
Total | 558 | 700 |
Deferred Tax Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (11,157) | (13,647) |
Recognized in earning | 1,875 | 6,297 |
Recognized to other comprehensive loss | 93 | |
Business acquisition | (3,807) | |
Total | (9,189) | (11,157) |
Deferred Tax Liabilities | Intangibles and goodwill | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (7,873) | (11,499) |
Recognized in earning | 1,744 | 6,310 |
Recognized to other comprehensive loss | 0 | |
Business acquisition | (2,684) | |
Total | (6,129) | (7,873) |
Deferred Tax Liabilities | Tax credits and other | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | (3,284) | (2,148) |
Recognized in earning | 131 | (13) |
Recognized to other comprehensive loss | 93 | |
Business acquisition | (1,123) | |
Total | (3,060) | (3,284) |
Net Carrying Amount | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Opening balance | 595 | 930 |
Recognized in earning | 3,797 | 3,202 |
Recognized to other comprehensive loss | 93 | |
Business acquisition | (3,537) | |
Total | $ 4,485 | $ 595 |
Income Taxes - Summary of Losse
Income Taxes - Summary of Losses Available for Carryforward (Details) | Mar. 31, 2021CAD ($) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | $ 19,779,000 |
US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 29,622,000 |
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 | 13,307,000 |
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 | $ 16,315,000 |
Income Taxes - Summary of Los_2
Income Taxes - Summary of Losses Available for Carryforward (Parentheticals) (Details) | Mar. 31, 2021CAD ($) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | $ 19,779,000 |
Deductible temporary differences for which no deferred tax asset is recognized | 23,309,000 |
US | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | 29,622,000 |
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 | 13,307,000 |
State | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused tax losses for which no deferred tax asset recognized | $ 28,409,000 |
Share Capital and Dividends - A
Share Capital and Dividends - Additional Information (Details) | Feb. 01, 2022shares | Jun. 23, 2021CAD ($) | Mar. 31, 2021CAD ($)shares | Feb. 01, 2021shares | Dec. 31, 2020CAD ($)shares | Sep. 30, 2020CAD ($)shares | Jun. 30, 2020CAD ($)shares | Jun. 23, 2020CAD ($)$ / sharesshares | Mar. 31, 2020CAD ($)shares | Feb. 01, 2020shares | Dec. 31, 2019CAD ($)shares | Dec. 18, 2019$ / sharesshares | Dec. 13, 2019shares | Oct. 01, 2019shares | Sep. 30, 2019CAD ($)shares | Aug. 16, 2019$ / sharesshares | Jun. 21, 2019$ / sharesshares | Mar. 31, 2021CAD ($)sharesVote$ / shares | Mar. 31, 2020CAD ($)sharesVote$ / shares | Jun. 23, 2020$ / shares | Aug. 16, 2019$ / sharesshares | Jun. 21, 2019$ / sharesshares |
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 53,987 | |||||||||||||||||||||
Exercise of stock options | $ 300,000 | $ 165,000 | ||||||||||||||||||||
Number of subordinated voting shares purchased (in shares) | shares | 755,000 | 165,000 | 180,000 | 625,500 | ||||||||||||||||||
Exercise price (in CAD per option) | (per share) | $ 2.26 | $ 2.64 | $ 3.65 | $ 3.64 | $ 1.67 | $ 2.78 | $ 2.76 | |||||||||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 3.10 | $ 3.85 | ||||||||||||||||||||
Restricted share units | shares | 181,498 | |||||||||||||||||||||
CAD | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Stock options exercisable (in shares) | shares | 2,607,528 | 2,221,660 | 2,607,528 | 2,221,660 | ||||||||||||||||||
Options issued (in shares) | shares | 570,000 | 85,000 | 435,000 | 85,000 | 435,000 | |||||||||||||||||
USD | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Stock options exercisable (in shares) | shares | 917,653 | 950,629 | 917,653 | 950,629 | ||||||||||||||||||
Options issued (in shares) | shares | 185,000 | 165,000 | 95,000 | 190,500 | 95,000 | 190,500 | ||||||||||||||||
DSU | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Number of other equity instruments settled in share-based payment arrangement | shares | 7,718 | 5,514 | ||||||||||||||||||||
Settlement period, Canadian participants | 90 days | |||||||||||||||||||||
Settlement period, US Participants | 6 months | |||||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 35,593 | 48,241 | 46,405 | 66,840 | 53,370 | 22,299 | 20,937 | |||||||||||||||
Fair value of other equity instruments granted (in CAD per share) | $ 3.22 | $ 2.78 | $ 2.89 | $ 2.10 | $ 2.63 | $ 3.66 | $ 3.97 | $ 3.22 | $ 2.63 | |||||||||||||
Aggregate fair value of other equity instruments granted | $ 114,609 | $ 134,110 | $ 134,110 | $ 140,364 | $ 140,363 | $ 81,614 | $ 83,120 | |||||||||||||||
RSU | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Fair value of other equity instruments granted (in CAD per share) | $ 2.26 | |||||||||||||||||||||
Aggregate fair value of other equity instruments granted | $ 410,000 | |||||||||||||||||||||
Vesting date | 1 year | |||||||||||||||||||||
Matricis Informatique Inc. | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 473,646 | |||||||||||||||||||||
Issuance of shares on business acquisition | $ 1,800,000 | |||||||||||||||||||||
Value of vested shares | 800,000 | 550,000 | ||||||||||||||||||||
Number of instruments issued (in shares) | shares | 473,646 | |||||||||||||||||||||
Matricis Informatique Inc. | Share Capital | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition | $ 1,800,000 | |||||||||||||||||||||
Alithya Travercent LLC | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 1,274,510 | |||||||||||||||||||||
Issuance of shares on business acquisition | $ 3,870,000 | |||||||||||||||||||||
Value of vested shares | 1,448,000 | 272,000 | ||||||||||||||||||||
Number of instruments issued (in shares) | shares | 1,274,510 | |||||||||||||||||||||
Alithya Travercent LLC | Share Capital | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition | $ 3,870,000 | |||||||||||||||||||||
Askida Inc. | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 600,384 | |||||||||||||||||||||
Issuance of shares on business acquisition | $ 2,173,000 | |||||||||||||||||||||
Value of vested shares | $ 1,803,000 | 639,000 | ||||||||||||||||||||
Number of instruments issued (in shares) | shares | 600,384 | |||||||||||||||||||||
Askida Inc. | Share Capital | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition | 2,173,000 | |||||||||||||||||||||
Alithya Digital Technology Corporation | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Value of vested shares | 326,000 | |||||||||||||||||||||
Pro2p | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Value of vested shares | $ 81,000 | |||||||||||||||||||||
Top of range | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Employee’s basic contribution | 10.00% | |||||||||||||||||||||
Subordinate Voting Shares | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Number of votes per share | Vote | 1 | 1 | ||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 300,000 | $ 165,000 | ||||||||||||||||||||
Exercise of stock options | $ 165,000 | |||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 7,718 | 5,514 | ||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ 32,085 | $ 23,000 | ||||||||||||||||||||
Subordinate Voting Shares | Contributed Surplus | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | (184,000) | (36,000) | ||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ (32,000) | $ (23,000) | ||||||||||||||||||||
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 | 3,500 | 53,987 | ||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 14,000 | $ 201,000 | ||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | shares | 7,718 | 5,514 | ||||||||||||||||||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ 32,000 | $ 23,000 | ||||||||||||||||||||
Subordinate Voting Shares | Matricis Informatique Inc. | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 473,646 | 157,882 | 473,646 | |||||||||||||||||||
Issuance of shares on business acquisition | $ 600,000 | $ 1,800,000 | ||||||||||||||||||||
Subordinate Voting Shares | Matricis Informatique Inc. | Share Capital | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 473,646 | |||||||||||||||||||||
Issuance of shares on business acquisition | $ 1,800,000 | |||||||||||||||||||||
Subordinate Voting Shares | Alithya Travercent LLC | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 1,274,510 | 1,274,510 | ||||||||||||||||||||
Issuance of shares on business acquisition | $ 3,870,000 | |||||||||||||||||||||
Subordinate Voting Shares | Alithya Travercent LLC | Share Capital | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 1,274,510 | |||||||||||||||||||||
Issuance of shares on business acquisition | $ 3,870,000 | |||||||||||||||||||||
Subordinate Voting Shares | Askida Inc. | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 300,192 | 300,189 | 600,384 | 300,189 | 600,384 | |||||||||||||||||
Issuance of shares on business acquisition | $ 1,086,250 | $ 2,172,500 | ||||||||||||||||||||
Subordinate Voting Shares | Askida Inc. | Share Capital | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of shares on business acquisition (in shares) | shares | 600,384 | |||||||||||||||||||||
Issuance of shares on business acquisition | $ 2,173,000 | |||||||||||||||||||||
Multiple Voting Shares | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Number of votes per share | Vote | 10 | 10 | ||||||||||||||||||||
Number of stock options available to purchase of shares (in shares) | shares | 810,528 | 863,160 | ||||||||||||||||||||
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 | |||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 470,000 | |||||||||||||||||||||
Subordinate Voting Shares and Multiple Voting Shares | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 156,132 | |||||||||||||||||||||
Exercise of stock options | $ 300,000 | |||||||||||||||||||||
Subordinate Voting Shares and Multiple Voting Shares | Contributed Surplus | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ (184,000) | |||||||||||||||||||||
Long Term Incentive Plan | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Number of share options exercised in share-based payment arrangement (in shares) | shares | 156,132 | 53,987 | ||||||||||||||||||||
Vesting period | 4 years | |||||||||||||||||||||
Stock options exercisable (in shares) | shares | 1,580,444 | 1,513,789 | 1,580,444 | 1,513,789 | ||||||||||||||||||
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 1.92 | $ 3.10 | ||||||||||||||||||||
Long Term Incentive Plan | Subordinate Voting Shares and Multiple Voting Shares | ||||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||||
Percentage of aggregate number of shares issued and outstanding | 10.00% |
Share Capital and Dividends - S
Share Capital and Dividends - Summary of Issued Share Capital (Details) $ in Thousands | Feb. 01, 2022shares | Feb. 01, 2021shares | Dec. 13, 2020CAD ($) | Feb. 01, 2020shares | Dec. 13, 2019shares | Oct. 01, 2019CAD ($)shares | Mar. 31, 2021CAD ($)shares | Mar. 31, 2020CAD ($)shares | Dec. 13, 2022CAD ($) | Dec. 13, 2022USD ($) | Dec. 31, 2020CAD ($) | Sep. 30, 2020CAD ($) | Jun. 30, 2020CAD ($) | Dec. 31, 2019CAD ($) | Sep. 30, 2019CAD ($) |
Disclosure of classes of share capital [line items] | |||||||||||||||
Balance (in shares) | shares | 58,073,517 | 55,665,476 | |||||||||||||
Balance (in shares) | shares | 58,695,438 | 58,073,517 | |||||||||||||
Share-based compensation on shares vested during the year, issued on business acquisitions | $ 4,051,000 | $ 1,868,000 | |||||||||||||
Exercise of stock options | 300,000 | 165,000 | |||||||||||||
Share capital | 197,537,000 | 195,335,000 | |||||||||||||
DSU | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Fair value of other equity instruments granted (in CAD per share) | 3.22 | 2.63 | $ 2.78 | $ 2.89 | $ 2.10 | $ 3.66 | $ 3.97 | ||||||||
Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Share-based compensation on shares vested during the year, issued on business acquisitions | 1,686,000 | $ 407,000 | |||||||||||||
Matricis Informatique Inc. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 473,646 | ||||||||||||||
Business acquisition | $ 1,800,000 | ||||||||||||||
Equity interest issued or issuable | $ (3,600,000) | ||||||||||||||
Matricis Informatique Inc. | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition | $ 1,800,000 | ||||||||||||||
Alithya Travercent LLC | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 1,274,510 | ||||||||||||||
Business acquisition | $ 3,870,000 | ||||||||||||||
Reduction in retained earnings | (72,237) | ||||||||||||||
Contributed surplus | $ (1,203,938) | ||||||||||||||
Alithya Travercent LLC | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition | $ 3,870,000 | ||||||||||||||
Askida Inc. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 600,384 | ||||||||||||||
Business acquisition | $ 2,173,000 | ||||||||||||||
Askida Inc. | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition | $ 2,173,000 | ||||||||||||||
Subordinate Voting Shares | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Settlement of DSU (in shares) | shares | 7,718 | 5,514 | |||||||||||||
Exercise of stock options | $ 300,000 | $ 165,000 | |||||||||||||
Settlement of deferred share units | $ 32,085 | 23,000 | |||||||||||||
Exercise of stock options | 165,000 | ||||||||||||||
Issuance of Class shares | $ 201,000 | ||||||||||||||
Subordinate Voting Shares | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Balance (in shares) | shares | 50,904,533 | 48,496,492 | |||||||||||||
Exercise of stock options (in shares) | shares | 3,500 | 53,987 | |||||||||||||
Settlement of DSU (in shares) | shares | 7,718 | 5,514 | |||||||||||||
Balance (in shares) | shares | 51,373,822 | 50,904,533 | |||||||||||||
Beginning balance | $ 191,820,000 | $ 183,346,000 | |||||||||||||
Share-based compensation on shares vested during the year, issued on business acquisitions | 1,686,000 | 407,000 | |||||||||||||
Exercise of stock options | 14,000 | 201,000 | |||||||||||||
Settlement of deferred share units | 32,000 | 23,000 | |||||||||||||
Ending balance | $ 193,552,000 | $ 191,820,000 | |||||||||||||
Share-based compensation on shares vested during the period, issued on business acquisitions (in shares) | shares | 458,071 | ||||||||||||||
Subordinate Voting Shares | Matricis Informatique Inc. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 473,646 | 157,882 | 473,646 | ||||||||||||
Business acquisition | $ 600,000 | $ 1,800,000 | |||||||||||||
Subordinate Voting Shares | Matricis Informatique Inc. | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 473,646 | ||||||||||||||
Business acquisition | $ 1,800,000 | ||||||||||||||
Subordinate Voting Shares | Alithya Travercent LLC | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 1,274,510 | 1,274,510 | |||||||||||||
Business acquisition | $ 3,870,000 | ||||||||||||||
Equity interest issued or issuable | $ (1,276,175) | $ (1,290,142) | $ (975) | ||||||||||||
Subordinate Voting Shares | Alithya Travercent LLC | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 1,274,510 | ||||||||||||||
Business acquisition | $ 3,870,000 | ||||||||||||||
Subordinate Voting Shares | Askida Inc. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 300,192 | 300,189 | 600,384 | 300,189 | 600,384 | ||||||||||
Business acquisition | $ 1,086,250 | $ 2,172,500 | |||||||||||||
Subordinate Voting Shares | Askida Inc. | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Business acquisition (in shares) | shares | 600,384 | ||||||||||||||
Business acquisition | $ 2,173,000 | ||||||||||||||
Multiple Voting Shares | Share Capital | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Balance (in shares) | shares | 7,168,984 | 7,168,984 | |||||||||||||
Exercise of stock options (in shares) | shares | 152,632 | ||||||||||||||
Balance (in shares) | shares | 7,321,616 | 7,168,984 | |||||||||||||
Beginning balance | $ 3,515,000 | $ 3,515,000 | |||||||||||||
Exercise of stock options | 470,000 | ||||||||||||||
Ending balance | $ 3,985,000 | $ 3,515,000 |
Share Capital and Dividends - T
Share Capital and Dividends - Transaction Activity Related to Class of Shares (Details) | 12 Months Ended |
Mar. 31, 2021shares | |
Disclosure of classes of share capital [line items] | |
Balance (in shares) | 58,073,517 |
Balance (in shares) | 58,695,438 |
Share Capital and Dividends -_2
Share Capital and Dividends - Summary of Shares Converted After Acquisition (Details) - shares | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Disclosure of classes of share capital [line items] | |||
Ending balance (in shares) | 58,695,438 | 58,073,517 | 55,665,476 |
Share Capital and Dividends -_3
Share Capital and Dividends - Summary of Transaction Activity Related to Subordinate Voting Shares and Multiple Voting Shares (Details) - CAD ($) | Feb. 01, 2022 | Feb. 01, 2021 | Feb. 01, 2020 | Dec. 13, 2019 | Oct. 01, 2019 | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of classes of share capital [line items] | |||||||
Balance (in shares) | 58,073,517 | 55,665,476 | |||||
Balance (in shares) | 58,695,438 | 58,073,517 | |||||
Share-based compensation on shares vested during the year, issued on business acquisitions | $ 4,051,000 | $ 1,868,000 | |||||
Matricis Informatique Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 1,800,000 | ||||||
Issuance of shares on business acquisition (in shares) | 473,646 | ||||||
Alithya Travercent LLC | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 3,870,000 | ||||||
Issuance of shares on business acquisition (in shares) | 1,274,510 | ||||||
Askida Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 2,173,000 | ||||||
Issuance of shares on business acquisition (in shares) | 600,384 | ||||||
Share Capital | |||||||
Disclosure of classes of share capital [line items] | |||||||
Share-based compensation on shares vested during the year, issued on business acquisitions | 1,686,000 | $ 407,000 | |||||
Share Capital | Matricis Informatique Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | 1,800,000 | ||||||
Share Capital | Alithya Travercent LLC | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | 3,870,000 | ||||||
Share Capital | Askida Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | 2,173,000 | ||||||
Subordinate Voting Shares | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | 300,000 | 165,000 | |||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ 32,085 | $ 23,000 | |||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | 7,718 | 5,514 | |||||
Subordinate Voting Shares | Matricis Informatique Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 600,000 | $ 1,800,000 | |||||
Issuance of shares on business acquisition (in shares) | 473,646 | 157,882 | 473,646 | ||||
Subordinate Voting Shares | Alithya Travercent LLC | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 3,870,000 | ||||||
Issuance of shares on business acquisition (in shares) | 1,274,510 | 1,274,510 | |||||
Subordinate Voting Shares | Askida Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 1,086,250 | $ 2,172,500 | |||||
Issuance of shares on business acquisition (in shares) | 300,192 | 300,189 | 600,384 | 300,189 | 600,384 | ||
Subordinate Voting Shares | Share Capital | |||||||
Disclosure of classes of share capital [line items] | |||||||
Balance (in shares) | 50,904,533 | 48,496,492 | |||||
Balance (in shares) | 51,373,822 | 50,904,533 | |||||
Beginning balance | $ 191,820,000 | $ 183,346,000 | |||||
Ending balance | 193,552,000 | 191,820,000 | |||||
Share-based compensation on shares vested during the year, issued on business acquisitions | 1,686,000 | 407,000 | |||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | 14,000 | 201,000 | |||||
Issuance of Subordinate Voting Shares from settlement of DSU | $ 32,000 | $ 23,000 | |||||
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | 3,500 | 53,987 | |||||
Issuance of Subordinate Voting Shares from settlement of DSU (in shares) | 7,718 | 5,514 | |||||
Subordinate Voting Shares | Share Capital | Matricis Informatique Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 1,800,000 | ||||||
Issuance of shares on business acquisition (in shares) | 473,646 | ||||||
Subordinate Voting Shares | Share Capital | Alithya Travercent LLC | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 3,870,000 | ||||||
Issuance of shares on business acquisition (in shares) | 1,274,510 | ||||||
Subordinate Voting Shares | Share Capital | Askida Inc. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issuance of shares on business acquisition | $ 2,173,000 | ||||||
Issuance of shares on business acquisition (in shares) | 600,384 | ||||||
Multiple Voting Shares | Share Capital | |||||||
Disclosure of classes of share capital [line items] | |||||||
Balance (in shares) | 7,168,984 | 7,168,984 | |||||
Balance (in shares) | 7,321,616 | 7,168,984 | |||||
Beginning balance | $ 3,515,000 | $ 3,515,000 | |||||
Ending balance | 3,985,000 | $ 3,515,000 | |||||
Issuance of Multiple Voting Shares and Subordinate Voting Shares from exercise of stock options | $ 470,000 | ||||||
Issuance of Subordinate Voting Shares from exercise of stock options (in shares) | 152,632 |
Share Capital and Dividends -_4
Share Capital and Dividends - Summary of Option Activity (Details) | 12 Months Ended | |
Mar. 31, 2021shares$ / shares | Mar. 31, 2020shares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Exercised (in shares) | shares | (53,987) | |
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | $ 3.10 | $ 3.85 |
Long Term Incentive Plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Beginning balance (in shares) | shares | 3,172,289 | 2,623,542 |
Granted (in shares) | shares | 755,000 | 970,500 |
Forfeited (in shares) | shares | (130,163) | (137,151) |
Expired (in shares) | shares | (115,813) | (230,615) |
Exercised (in shares) | shares | (156,132) | (53,987) |
Ending balance (in shares) | shares | 3,525,181 | 3,172,289 |
Exercisable at year end (in shares) | shares | 1,580,444 | 1,513,789 |
Beginning balance (in CAD per option) | $ / shares | $ 3.72 | $ 3.80 |
Granted (in CAD per option) | $ / shares | 2.26 | 3.63 |
Forfeited (in CAD per option) | $ / shares | 4.93 | 4.88 |
Expired (in CAD per option) | $ / shares | 5.93 | 3.66 |
Weighted average exercise price of share options exercised (in CAD per option) | $ / shares | 1.92 | 3.10 |
Ending balance (in CAD per option) | $ / shares | 3.37 | 3.72 |
Exercisable at year end (in CAD per option) | $ / shares | $ 3.44 | $ 3.43 |
Share Capital and Dividends -_5
Share Capital and Dividends - Schedule of Share Options Outstanding and Exercisable (Details) | 12 Months Ended | ||||||||
Mar. 31, 2021sharesYear$ / shares | Mar. 31, 2020shares | Jun. 23, 2020$ / shares | Jun. 23, 2020$ / shares | Dec. 18, 2019$ / shares | Aug. 16, 2019$ / shares | Aug. 16, 2019$ / shares | Jun. 21, 2019$ / shares | Jun. 21, 2019$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | (per share) | $ 2.26 | $ 1.67 | $ 2.64 | $ 3.65 | $ 2.78 | $ 3.64 | $ 2.76 | ||
CAD | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 2,607,528 | 2,221,660 | |||||||
Weighted average remaining exercise period (in years) | 6 years 3 months 18 days | 6 years 1 month 13 days | |||||||
CAD | Exercise Price, 1.90 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 1.90 | ||||||||
CAD | Exercise Price, 1.92 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 1.92 | ||||||||
Stock options exercisable (in shares) | shares | 100,000 | 100,000 | |||||||
Weighted average remaining exercise period (in years) | 1 year | 2 years | |||||||
CAD | Exercise Price, 2.21 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.21 | ||||||||
Stock options exercisable (in shares) | shares | 115,000 | 115,000 | |||||||
Weighted average remaining exercise period (in years) | 3 years 7 days | 4 years 7 days | |||||||
CAD | Exercise Price, 2.26 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.26 | ||||||||
Stock options exercisable (in shares) | Year | 570,000 | ||||||||
Weighted average remaining exercise period (in years) | 9 years 2 months 23 days | ||||||||
CAD | Exercise Price, 2.46 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.46 | ||||||||
Stock options exercisable (in shares) | shares | 100,000 | 100,000 | |||||||
Weighted average remaining exercise period (in years) | 2 years | 3 years | |||||||
CAD | Exercise Price, 2.87 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.87 | ||||||||
Stock options exercisable (in shares) | shares | 120,000 | 120,000 | |||||||
Weighted average remaining exercise period (in years) | 4 years 1 month 2 days | 5 years 1 month 2 days | |||||||
CAD | Exercise Price, 2.96 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.96 | ||||||||
Stock options exercisable (in shares) | shares | 182,500 | 186,000 | |||||||
Weighted average remaining exercise period (in years) | 5 years 3 days | 6 years 3 days | |||||||
CAD | Exercise Price, 3.29 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.29 | ||||||||
Stock options exercisable (in shares) | shares | 2,000 | ||||||||
Weighted average remaining exercise period (in years) | 6 years 8 months 1 day | ||||||||
CAD | Exercise Price, 3.64 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.64 | ||||||||
Stock options exercisable (in shares) | shares | 418,000 | 418,000 | |||||||
Weighted average remaining exercise period (in years) | 8 years 2 months 23 days | 9 years 2 months 23 days | |||||||
CAD | Exercise Price, 3.65 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.65 | ||||||||
Stock options exercisable (in shares) | shares | 85,000 | 85,000 | |||||||
Weighted average remaining exercise period (in years) | 1 year 4 months 13 days | 2 years 4 months 17 days | |||||||
CAD | Exercise Price, 3.80 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.80 | ||||||||
Stock options exercisable (in shares) | shares | 227,500 | 249,500 | |||||||
Weighted average remaining exercise period (in years) | 6 years 1 month 20 days | 7 years 1 month 20 days | |||||||
CAD | Exercise Price, 3.90 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.90 | ||||||||
Stock options exercisable (in shares) | shares | 20,000 | 20,000 | |||||||
Weighted average remaining exercise period (in years) | 7 years 10 months 17 days | 8 years 10 months 17 days | |||||||
CAD | Exercise Price, 4.50 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 4.50 | ||||||||
Stock options exercisable (in shares) | shares | 459,000 | 463,000 | |||||||
Weighted average remaining exercise period (in years) | 7 years 7 months 2 days | 8 years 7 months 2 days | |||||||
CAD | One Point Nine Zero Exercise | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 210,528 | 363,160 | |||||||
Weighted average remaining exercise period (in years) | 2 years 6 months | 2 years 5 months 12 days | |||||||
USD | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 917,653 | 950,629 | |||||||
Weighted average remaining exercise period (in years) | 6 years 1 month 2 days | 5 years 8 months 12 days | |||||||
USD | 1.67 to 2.25 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | Year | 185,000 | ||||||||
Weighted average remaining exercise period (in years) | 9 years 2 months 26 days | ||||||||
USD | 1.67 to 2.25 | Bottom of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 1.67 | ||||||||
USD | 1.67 to 2.25 | Top of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.25 | ||||||||
USD | 2.26 to 3.85 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 532,550 | 599,960 | |||||||
Weighted average remaining exercise period (in years) | 6 years 11 months 23 days | 7 years 11 months 23 days | |||||||
USD | 2.26 to 3.85 | Bottom of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 2.26 | ||||||||
USD | 2.26 to 3.85 | Top of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.85 | ||||||||
USD | 3.86 to 4.45 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 20,856 | 23,240 | |||||||
Weighted average remaining exercise period (in years) | 10 months 20 days | 1 year 8 months 26 days | |||||||
USD | 3.86 to 4.45 | Bottom of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 3.86 | ||||||||
USD | 3.86 to 4.45 | Top of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 4.45 | ||||||||
USD | 4.59 to 4.85 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 47,672 | 154,141 | |||||||
Weighted average remaining exercise period (in years) | 5 months 26 days | 1 year 1 month 6 days | |||||||
USD | 4.59 to 4.85 | Bottom of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 4.59 | ||||||||
USD | 4.59 to 4.85 | Top of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 4.85 | ||||||||
USD | 4.90 to 5.45 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Stock options exercisable (in shares) | shares | 131,575 | 173,288 | |||||||
Weighted average remaining exercise period (in years) | 1 year | 2 years 5 months 1 day | |||||||
USD | 4.90 to 5.45 | Bottom of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 4.90 | ||||||||
USD | 4.90 to 5.45 | Top of range | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price (in CAD per option) | $ 5.45 |
Share Capital and Dividends -_6
Share Capital and Dividends - Summary of Weighted Average Assumptions Used for Valuation of Share Options Granted (Details) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Compensation expense related to the options granted | $ 6,241 | $ 3,551 |
Black Scholes Model [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Compensation expense related to the options granted | $ 156 | $ 318 |
Number of stock options granted (in shares) | 755,000 | 970,500 |
Weighted average fair value of options granted (in CAD per option) | $ 0.81 | $ 1.13 |
Aggregate fair value of options granted | $ 609 | $ 1,096 |
Share price (in CAD per option) | $ 2.26 | $ 3.63 |
Exercise price (in CAD per option) | $ 2.26 | $ 3.63 |
Risk-free interest rate | 0.46% | 1.79% |
Expected volatility | 34.90% | 30.00% |
Dividend yield | 0.00% | 0.00% |
Share Capital and Dividends -_7
Share Capital and Dividends - Summary of Share based Compensation (Details) - CAD ($) $ in Thousands | Jun. 23, 2021 | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of classes of share capital [abstract] | |||
Stock option plan | $ 700 | $ 745 | |
Share purchase plan – employer contribution | 653 | 633 | |
Share-based compensation on shares vested during the period, issued on business acquisitions | 4,051 | 1,868 | |
Deferred share units | 523 | 305 | |
Restricted share units | $ 314 | ||
Expense from share-based payment transactions with employees | $ 6,241 | $ 3,551 |
Commitments - Schedule of Opera
Commitments - Schedule of Operating Expenditures Contracted but not Incurred (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | $ 100,023 | $ 123,940 |
Technology licenses, infrastructure and other | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 3,113 | |
Technology licenses, infrastructure and other | Not later than one year [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | 2,143 | |
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 | 462 | |
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 | 270 | |
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 | 156 | |
Technology licenses, infrastructure and other | Thereafter | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating commitments | $ 82 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - CAD ($) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of transactions between related parties [line items] | ||
Payments of incremental benefit in the event of termination | $ 41,300 | |
Related parties | ||
Disclosure of transactions between related parties [line items] | ||
Voting right percentage | 59.01% | |
Related parties | Top of range | ||
Disclosure of transactions between related parties [line items] | ||
Payments of incremental benefit in the event of termination | $ 5,450,000 | $ 4,633,000 |
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, 2021 | Mar. 31, 2020 | |
Disclosure of transactions between related parties [abstract] | ||
Director compensation, and key management salaries and benefits | $ 4,427,000 | $ 4,058 |
Share-based compensation | 1,273,000 | 680 |
Key management personnel compensation | $ 5,700,000 | $ 4,738 |
Related Parties - Summary of Op
Related Parties - Summary of Operating Transactions with Shareholders (Details) | 12 Months Ended |
Mar. 31, 2020CAD ($) | |
Disclosure of transactions between related parties [abstract] | |
Consulting fee revenue | $ 24,554,274 |
Employee benefits expense | 41,300 |
Amounts receivable, related party transactions | 6,718,000 |
Amounts payable, related party transactions | $ 153,000 |
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, 2021 | Mar. 31, 2020 | |
Earnings per share [abstract] | ||
Net loss | $ (17,338) | $ (39,667) |
Weighted average number of common shares outstanding (in shares) | 58,209,375 | 56,399,499 |
Basic and diluted loss per share (in CAD per share) | $ (0.30) | $ (0.70) |
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, 2021 | Mar. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | $ 53,229 | $ 28,305 |
Repayment | (49,867) | (57,562) |
Proceeds | 53,471 | 64,093 |
Total cash flow | 3,604 | 6,531 |
Acquisitions | 0 | 16,114 |
Amortization of finance costs | 242 | 231 |
Interest accretion on balances of purchase payable | 835 | 318 |
Impacts of foreign exchange | (1,061) | 1,730 |
Reclassification Credit Facility (note 10) | 0 | |
Reclassification other long-term debt | 0 | 0 |
Total non cash | (1,882) | 18,393 |
Ending balance | 54,951 | 53,229 |
Forgiveness of PPP loan | 1,898 | 0 |
Line of credit and demand loan | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 0 | 0 |
Repayment | (3,153) | |
Proceeds | 0 | |
Total cash flow | (3,153) | |
Acquisitions | 3,153 | |
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 | 3,153 | |
Ending balance | 0 | |
Current portion of long-term debt | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 1,143 | 1,000 |
Repayment | 0 | (4,273) |
Proceeds | 0 | 2,517 |
Total cash flow | 0 | (1,756) |
Acquisitions | 0 | 1,105 |
Amortization of finance costs | 0 | 0 |
Interest accretion on balances of purchase payable | 0 | 0 |
Impacts of foreign exchange | 270 | 0 |
Reclassification Credit Facility (note 10) | 31,023 | |
Reclassification other long-term debt | 2,698 | 794 |
Total non cash | 33,991 | 1,899 |
Ending balance | 35,134 | 1,143 |
Long-term debt | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 52,086 | 27,305 |
Repayment | (49,867) | (50,136) |
Proceeds | 53,471 | 61,576 |
Total cash flow | 3,604 | 11,440 |
Acquisitions | 0 | 11,856 |
Amortization of finance costs | 242 | 231 |
Interest accretion on balances of purchase payable | 835 | 318 |
Impacts of foreign exchange | (1,331) | 1,730 |
Reclassification Credit Facility (note 10) | (31,023) | |
Reclassification other long-term debt | (2,698) | (794) |
Total non cash | (35,873) | 13,341 |
Ending balance | 19,817 | $ 52,086 |
Forgiveness of PPP loan | $ (1,898) |
Additional Information on Con_3
Additional Information on Consolidated Loss - Schedule of Additional Information on Consolidated Loss (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue – contingent rental | $ 0 | $ 1,532,000 |
Employee compensation costs | 210,800,000 | 194,678,000 |
Tax Credits | (6,737,000) | (4,815,000) |
Grants and loan forgiveness | (6,530,000) | 0 |
Selling expense | 46,271,000 | 44,084,000 |
General and administrative expense | 35,452,000 | 32,698,000 |
Depreciation of property and equipment | 1,861,000 | 1,278,000 |
Depreciation of right-of-use assets | 1,906,000 | $ 2,090,000 |
Cost Of Sales | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Grants and loan forgiveness | (5,362,516) | |
Selling, General And Administrative Expense | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Grants and loan forgiveness | $ (1,167,658) |
Additional Information on Con_4
Additional Information on Consolidated Loss - Narrative (Details) - Mar. 31, 2021 | CAD ($) | EUR (€) |
Profit (loss) [Line Items] | ||
Government grant | $ 4,000,953 | |
Alithya France SAS (formerly Alithya Consulting SAS) | ||
Profit (loss) [Line Items] | ||
Government grant | $ 631,706 | € 410,600 |
Financial Expenses - Summary of
Financial Expenses - Summary of Financial Expenses (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Financial Expense [Abstract] | ||
Interest on long-term debt | $ 1,185 | $ 1,155 |
Interest and financing charges | 448 | 306 |
Interest on lease liabilities | 595 | 375 |
Amortization of finance costs | 242 | 231 |
Interest accretion on balances of purchase payable | 835 | 318 |
Interest income | (31) | (38) |
Finance costs | $ 3,274 | $ 2,347 |
Supplementary Cash Flow Infor_3
Supplementary Cash Flow Information - Summary of Net Change In Non-Cash Working Capital Items (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Supplementary Cash Flow Information [Abstract] | ||
Accounts receivable and other receivables | $ (5,289,000) | $ 7,622,000 |
Income taxes receivable | 1,450,000 | (407,000) |
Unbilled revenue | (2,154,000) | 2,200,000 |
Tax credits receivable | 28,000 | 185,000 |
Prepaids | (944,000) | 377,000 |
Accounts payable and accrued liabilities | 5,504,000 | (4,673,000) |
Deferred revenue | 1,319,000 | 435,000 |
Net change in non-cash working capital items | (86,000) | 5,739,000 |
Lease incentives | 917,000 | 0 |
Non-cash Lease Incentive | $ 1,325,922 | $ 1,249,462 |
Segment and Geographical Info_2
Segment and Geographical Information - Summary of External Revenues by Geographic Location (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of geographical areas [line items] | ||
Revenue | $ 287,643 | $ 279,007 |
Revenue percentage | 100.00% | 100.00% |
Canada | ||
Disclosure of geographical areas [line items] | ||
Revenue | $ 162,764 | $ 147,821 |
Revenue percentage | 56.60% | 53.00% |
U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | $ 114,608 | $ 118,125 |
Revenue percentage | 39.80% | 42.30% |
Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | $ 10,271 | $ 13,061 |
Revenue percentage | 3.60% | 4.70% |
Segment and Geographical Info_3
Segment and Geographical Information - Summary of Long-lived Assets by Geographic Location (Details) - CAD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 129,063 | $ 148,076 |
Long lived assets percentage | 100.00% | 100.00% |
Canada | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 62,172 | $ 64,143 |
Long lived assets percentage | 48.20% | 43.30% |
U.S. | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 65,784 | $ 82,607 |
Long lived assets percentage | 51.00% | 55.80% |
Europe | ||
Disclosure of geographical areas [line items] | ||
Long lived assets | $ 1,107 | $ 1,326 |
Long lived assets percentage | 0.80% | 0.90% |
Segment and Geographical Info_4
Segment and Geographical Information - Additional Information (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of major customers [line items] | ||
Revenue | $ 287,643,000 | $ 279,007,000 |
Revenues | One customer | ||
Disclosure of major customers [line items] | ||
Concentration Risk, Percentage2 | 10.00% | |
One customer | ||
Disclosure of major customers [line items] | ||
Revenue | $ 30,297,727 |
Segment and Geographical Info_5
Segment and Geographical Information - Summary of Revenue from Customers for Major Service Category (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of major customers [line items] | ||
Revenue | $ 287,643 | $ 279,007 |
Revenue percentage | 100.00% | 100.00% |
System integration and consulting services | ||
Disclosure of major customers [line items] | ||
Revenue | $ 278,341 | $ 270,345 |
Revenue percentage | 96.80% | 96.90% |
Payrolling services | ||
Disclosure of major customers [line items] | ||
Revenue | $ 1,241 | $ 1,289 |
Revenue percentage | 0.40% | 0.50% |
Software revenue | ||
Disclosure of major customers [line items] | ||
Revenue | $ 8,061 | $ 7,373 |
Revenue percentage | 2.80% | 2.60% |
Financial Instruments - Schedul
Financial Instruments - Schedule of Interest Rate Risk Profile of Borrowings (Details) - CAD ($) | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of detailed information about financial instruments [line items] | ||
Other long-term debt | $ 213,000 | $ 347,000 |
Borrowings | 54,951,000 | 53,229,000 |
Credit Facility | ||
Disclosure of detailed information about financial instruments [line items] | ||
Line of credit | 31,023,000 | 37,615,000 |
Interest Rate Risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | $ 31,236,000 | $ 37,962,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) - CAD ($) | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | ||
Percentage change in interest rate on variable rate borrowings | 0.10% | |
Standby letter of credit | $ 23,976,000 | $ 22,000,000 |
LIBOR Advances | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum amount available | 60,000,000 | 60,000,000 |
Credit Facility | ||
Disclosure of detailed information about financial instruments [line items] | ||
Senior secured revolving credit facility (the “Credit Facility”) | $ 31,023,000 | $ 37,615,000 |
Canadian Dollars/USD Exchange Rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in exchange rate to foreign currencies | 17.00% | 8.00% |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amount and Contractual Maturities of Financial Liabilities (Details) - Liquidity risk - CAD ($) | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | $ 89,888,000 | $ 95,773,000 |
Financial liabilities | 94,500,000 | 102,189,000 |
Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 65,636,000 | 33,294,000 |
One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 16,082,000 | 43,975,000 |
Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 6,756,000 | 19,331,000 |
More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 6,026,000 | 5,589,000 |
Accounts payable and accrued liabilities | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 27,674,000 | 28,970,000 |
Financial liabilities | 27,674,000 | 28,970,000 |
Accounts payable and accrued liabilities | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 27,674,000 | 28,970,000 |
Accounts payable and accrued liabilities | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Accounts payable and accrued liabilities | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Accounts payable and accrued liabilities | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Credit Facility | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 31,023,000 | 37,615,000 |
Financial liabilities | 32,008,000 | 39,775,000 |
Credit Facility | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 32,008,000 | 1,178,000 |
Credit Facility | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 38,597,000 |
Credit Facility | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Credit Facility | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Balances of purchase payable, non-interest bearing | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 15,519,000 | 15,609,000 |
Financial liabilities | 16,739,000 | 17,006,000 |
Balances of purchase payable, non-interest bearing | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 3,259,000 | 1,000,000 |
Balances of purchase payable, non-interest bearing | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 13,480,000 | 3,259,000 |
Balances of purchase payable, non-interest bearing | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 12,747,000 |
Balances of purchase payable, non-interest bearing | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Other Long Term Debt [Member] | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 213,000 | 347,000 |
Financial liabilities | 213,000 | 347,000 |
Other Long Term Debt [Member] | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 213,000 | 126,000 |
Other Long Term Debt [Member] | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 101,000 |
Other Long Term Debt [Member] | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 120,000 |
Other Long Term Debt [Member] | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Lease liabilities | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Carrying amount | 15,459,000 | 13,232,000 |
Financial liabilities | 17,866,000 | 16,091,000 |
Lease liabilities | Less than one year | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 2,482,000 | 2,020,000 |
Lease liabilities | One to two years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 2,602,000 | 2,018,000 |
Lease liabilities | Two to five years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | 6,756,000 | 6,464,000 |
Lease liabilities | More than 5 years | ||
Disclosure Of Contractual Maturities Of Financial Liabilities [Line Items] | ||
Financial liabilities | $ 6,026,000 | $ 5,589,000 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Quantitative Data About Exposure to Currency Risk (Details) - Currency risk - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | $ 4,708 | $ 19,308 |
Accounts payable and accrued liabilities | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 1,609 | 1,333 |
Credit Facility | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 4,023 | 19,765 |
Cash | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | 681 | 1,258 |
Accounts receivable and other receivables | ||
Financial Instruments Measured At Fair Value [Line Items] | ||
Risk exposure associated with instruments sharing characteristic | $ 243 | $ 532 |
Financial Instruments - Summa_3
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, 2021 | Mar. 31, 2020 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Change in exchange rate to foreign currencies | 17.00% | 8.00% |
USD | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Profit or loss strengthening | $ (631) | $ (1,087) |
Profit or loss weakening | $ 631 | $ 1,087 |
Capital Disclosures - Summary o
Capital Disclosures - Summary of Total Capital (Details) - CAD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure Of Capital Disclosures [Abstract] | ||
Cash | $ (6,903) | $ (8,810) |
Restricted cash | (3,233) | (2,212) |
Current portion of long-term debt | 35,134 | 1,143 |
Long-term debt | 19,817 | 52,086 |
Share capital | 197,537 | 195,335 |
Deficit | (96,190) | (78,780) |
Accumulated other comprehensive (loss) income | (508) | 6,123 |
Contributed surplus | 7,173 | 4,691 |
Capital | $ 152,827 | $ 169,576 |
Subsequent Events (Details)
Subsequent Events (Details) - Acquisition of outstanding shares of R3D consulting Inc. | Apr. 01, 2021CAD ($)shares$ / shares |
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items] | |
Number of instruments issued (in shares) | shares | 25,182,676 |
Subordinate share price (per share) | $ / shares | $ 3.20 |
Cash consideration for acquisition | $ 978,180 |
Liabilities incurred | $ 8,931,839 |