Operator: [Audio Gap] Along with the MD&A containing condensed financial statements and related notes was published this morning and accessible on our website. The webcast presentation can also be found on our website in the Investors section. Please be advised that this call will contain forward-looking statements, which are subject to various risk and uncertainties that may cause actual results to differ materially from those anticipated. These statements include our estimates, plans, expectations and statements regarding future growth, operational results, performance and business prospects that do not solely relate to historical facts. These statements may also refer to future events, including expectations around client demand, business opportunities, leveraging our services, IP, AI and expertise to meet client needs, excelling in a competitive market, achieving our 3-year strategic plan and deploying our smart shoring capabilities. For more information, please refer to the cautionary notes included in our presentation and the forward-looking statements in the Risks and Uncertainties section of our MD&A, which are accessible on our website. All figures discussed on today's call are in Canadian dollars, unless otherwise stated, and we may refer to certain indicators that are non-IFRS measures. Please refer to the cautionary note included in our presentation and to the non-IFRS and other financial measures section of our MD&A for more details. The conference call will be followed by a question-and-answer period. [Operator Instructions] Presenting this morning are Paul Raymond, Alithya's President and Chief Executive Officer; Bernard Dockrill, Chief Operating Officer; and Pierre Blanchette, Chief Financial Officer. I will now turn the call over to Paul Raymond. Paul?

Paul Raymond: Thank you, Dominic, and good morning, everyone. Bonjour and thank you for joining us today. I have 3 things I'd like to highlight today. So first, I would like to step back and provide some context around where Alithya stands today. Over the last several years, we've fundamentally transformed Alithya. We have strengthened our industry focus, built significant partnerships with industry-leading enterprise partners and hyperscalers. We have expanded our digital transformation capabilities, built differentiated expertise in enterprise applications, cloud, data and AI, enhanced our smart shore delivery model and significantly improved the breadth of our service portfolio. The business we operate today is very different from the company we were several years ago, and we need to remember that one quarter cannot capture that. In line with these changes and to reflect the transformation of Alithya towards higher-value integration services, we've made a change to our reporting segments. These new segments provide greater visibility into our strategic growth areas, which will help investors understand the evolution of our portfolio and more accurately reflect where we are creating values for our clients and how we operate. Chad and Bernard will provide further details on our new reporting segments shortly. Two, the Q1 results. While the first quarter results were softer than expected due to longer client decision-making and conversion cycles, our pipeline quality remains healthy and late-stage opportunities continue to build. Our challenge today is not a lack of opportunity. It is converting those opportunities more quickly. And finally, three, the strategic review launched by the Board this past July 27. The Board initiated this review from a position of confidence in our strategy and in the business we have built. Our view is that the transformation accomplished over recent years has created a stronger and more valuable company. The Board concluded that the current public market valuations may not fully reflect the intrinsic value of the company nor adequately support its next phase of growth. The review will evaluate a broad range of alternatives, including, but not limited to, a merger or other business combination, a privatization, a sale of the company, a recapitalization, strategic investment or partnerships or continuing to operate as a publicly listed company. The company has engaged Scotiabank as its financial adviser for the strategic review process. As you would expect, we will not comment on specific parties, alternatives or process developments. But what I can tell you is that our client commitments are unchanged, and our team remains focused on quality delivery. Management is fully engaged in running the business and executing our strategy as we proceed with the review. We entered this phase from a position of strength. Demand for enterprise applications, digital transformation, AI enablement and modernization remains strong. We have a robust recurring client base, healthy pipeline, numerous new logos every year and a business portfolio significantly stronger than it was just a few years ago. And we intend on continuing to grow this business. I will now turn it over to Pierre for the financial highlights. Pierre?

Pierre Blanchette: Thank you, Paul, and good morning, everyone. Before discussing the results, I want to provide more details on how we are now reporting our segment information. As of April 1, 2026, following the integration of recent business acquisition and a business divestiture, we began reporting our financial results under a new segment structure designed to better reflect our operational structure and how management assesses performance and allocates resources. We now have 2 reportable segments based on areas of service, Enterprise Transformation and Industry Service and Solutions. The first one, Enterprise Transformation, provides consulting, implementation, integration and managed services for leading enterprise platforms, including Microsoft, Oracle and Salesforce. Services span ERP, EPM, CRM, HCM, SCM and AI-enabled business transformation. Our second segment, Industry Services and Solutions, helps organization address industry-specific business challenges and achieve broader business transformation through AI, cloud and digital innovation. We combine sector expertise with strategic consulting, advisory services, business enablers and hyperscaler cloud migration across AWS and Microsoft Azure. Alithya guides clients from strategy and planning through implementation, organizational change and sustained value realization. Comparative figure includes a third segment reflecting the results of Datum, which was sold on March 31, 2026, as part of the Datum transaction. Now turning to the quarter. Revenues were $105.1 million, down 15.4% year-over-year. Client retention remained healthy with 77.4% of revenues generated from clients we served in the same quarter last year, and we signed 37 new clients in the quarter. Gross margin was $31.9 million, down 19.8% from $39.8 million and gross margin as a percentage of revenues was 30.4% compared to 32.1% last year. The decrease reflects lower utilization rates resulting from deal signature taking longer than expected, lower tax credits and salary increases that came into effect at the beginning of this fiscal year. Looking at our performance by segment. Enterprise Transformation revenues were $62.6 million, down $3.2 million or 4.9% year-over-year. The decrease reflects certain clients' projects reaching maturity and lower billable hours, partially offset by the full quarter of eVerge. Gross margin as a percentage of revenue decreased mainly due to lower utilization caused by delays in new project starts and salary increases. Industry Services and Solution revenues were $42.5 million, down $11.7 million or 21.6% year-over-year, reflecting certain clients projects reaching maturity and reduced revenue from government contracts and the financial services sector in Quebec. Gross margin as a percentage of revenues decreased mainly due to lower utilization, tax credit and salary increases. The divestiture of Datum accounted for a further $4.2 million of revenue decline. Turning to SG&A. In the quarter, SG&A totaled $28.3 million, a decrease of $2.3 million or 7.5% year-over-year, primarily driven by lower variable compensation, professional fee, share-based compensation, and recruiting and training costs. Savings from the Datum divestiture were partially offset by a full quarter of eVerge. This resulted in SG&A as a percentage of revenues of 27% compared to 24.6% for the same period last year. Adjusted EBITDA was $5.4 million or 5.2% of revenues compared to $11.6 million or 9.4% last year. The decrease reflects the lower revenue and gross margin described earlier, partially offset by lower SG&A. Net loss for the quarter was $2.4 million or $0.03 per share compared to the net earnings of $0.2 million or $0 per share in the same period last year. The variance was driven mainly by decreased gross margin and a lower income tax recovery, partially offset by lower SG&A, acquisition and integration costs, amortization and a foreign exchange gain. Adjusted net earnings came in at $2.9 million or $0.03 per share compared to $6.5 million or $0.07 per share in the prior year, a decrease of 56%. Turning to cash flow and financial position. Net cash used in operating activity was $4.8 million in the quarter, an increase of $0.6 million compared to $4.2 million in the same quarter last year, mainly reflecting the net loss and $8.3 million of unfavorable working capital changes tied to timing of payments, collection and lower revenue. Our net debt to trailing 12-month adjusted EBITDA ratio was 2.9x, remaining in a comfortable position. Overall, lower revenue volume and reduced utilization impacted the profitability in the quarter, partially offset by lower SG&A. We remain focused on aligning our cost structure with the current revenue level while preserving our capacity to invest. I will now turn things over to Bernard for our operational highlights.

Bernard Dockrill: [Foreign Language], Pierre, and good morning to everyone with us today. I would like to begin by thanking the Alithya team for their continued commitment and contribution towards achieving our strategic objectives. From an operating perspective, the quarter showed pressure on conversion timing, but also clear evidence that our portfolio is shifting toward the areas where we believe Alithya can create stronger, more scalable value through enterprise transformation, AI-enabled services and industry-led solutions and more value-based commercial models. Alithya's first quarter bookings amounted to $89.0 million, which translated into a book-to-bill ratio of 0.85 for the quarter. Adjusting for the revenues from 2 large long-term contracts, the book-to-bill ratio would have been 0.92 for the quarter. On a trailing 12-month basis, bookings amounted to $405.1 million, which translated into a book-to-bill ratio of 0.88. Adjusting for the revenues from the 2 long-term contracts, the trailing 12-month book-to-bill ratio would have been 0.96. While these levels reflect the longer decision cycles we are seeing in the market, we believe the composition of bookings is important. Activity continues to be supported by new business, new clients and opportunities aligned with their strategic growth priorities. We achieved higher bookings in the commercial and professional services sector this quarter, while bookings in the manufacturing sector were lower as we continue to see contracts taking longer to sign due to the macroeconomic environment. Also of note, over 70% of our total first quarter bookings were related to new business, including 28% from new customers. In addition, a higher proportion of bookings were associated with fixed price or fixed fee contracts compared with prior quarters, reflecting our continued evolution toward commercial models that better capture the value of AI enablement, repeatable delivery assets and smart shore. Now looking at these results through the lens of our new reporting segments, starting with the Enterprise Transformation segment. First quarter bookings for Enterprise Transformation amounted to $61.2 million, translating into a book-to-bill ratio of 0.99 for the quarter. This performance reinforces the strategic importance of the segment where demand is tied to enterprise applications, complex transformation programs and AI-enabled modernization initiatives. Our Oracle practice signed a USD 11.7 million contract with a global engineering construction leader. Alithya is helping the client modernize its global workforce operations through a transformative Oracle HCM initiative designed to create a more connected, efficient and scalable employee experience while supporting the evolving needs of its global business. This win illustrates the impact of our recent investment in the construction and engineering sector, together with the capabilities added to the eVerge acquisition last year. Turning to our Microsoft practice. We saw continued momentum in our AI and Copilot adoption practice. We supported the deployment of more than 300,000 Microsoft 365 Copilot licenses globally, influenced deployment decisions well beyond the license we directly manage. Through these engagements, Alithya is helping clients improve access to information, reduce time spent on routine tasks and achieve measurable gains in productivity and service delivery. We're also seeing demand evolve from initial pilots to enterprise scale adoption. In parallel, Alithya is developing custom industry-specific AI agents built on our clients' data where we believe the greatest opportunities for value creation lie. Our Salesforce practice had a softer quarter versus prior quarters in terms of revenue as several projects were completed and new project starts were delayed. We do not believe this reflects a longer term trend as the pipeline of qualified opportunities continues to increase, including new opportunities resulting from cross-selling into our existing client base. Turning to our Industry Services and Solutions segment. First quarter bookings for Industry Services and Solutions amounted to $27.8 million, which translated into a book-to-bill ratio of 0.64 for the quarter or 0.78 when adjusting for the revenues from the 2 long-term contracts. While the segment was more affected by delayed starts and market-specific headwinds, we remain disciplined in the segment and are prioritizing opportunities where our industry expertise, proprietary IP and delivery qualifications support sustainable margins. Within the nuclear energy sector, demand remains steady, and we're taking on more significant projects with existing clients. We continued investing in our proprietary work management and analytics tool, CASSI, adding an agentic AI layer, enabling users to retrieve critical data in natural language and make decisions faster. Within financial services and insurance, we continue to experience headwinds, particularly in the Quebec market as engagements within several of our clients came to completion and new engagements are taking longer to start. However, our client relationships remain strong with renewals secured across key accounts and we believe the sector can return to growth as budgets normalize. Finally, our AWS practice gained traction as we invested in deepening the partnership. Building on the AWS migration and modernization competency we achieved earlier this year, we are opening doors across the industry with new agreements signed in Canada and the U.S. during the quarter. We remain committed to our partnership with AWS and continue to scale our cloud and data capabilities across our Industry Services and Solutions segment. Overall, the quarter reflected the macro market conditions where decisions are taking longer, alongside progress in the areas where we have chosen to invest. While parts of our business remain in transition, we are encouraged by the momentum we are building on industry-led offerings, AI capabilities, enterprise application expertise and our ability to win new clients. I will now turn it back to Paul for closing comments.

Paul Raymond: Thank you, Bernard. So before we open the line, I want to step back one last time because a single quarter can overshadow what this company has actually become. As you can see in our new reporting segments, we've transformed the company over the past few years. Today, we're a leading North American digital transformation platform operating at scale with deep expertise in the complex, highly regulated industries where precision and trust matter most: financial services, health care, regulated manufacturing, the public sector and energy. Furthermore, we are encouraged by the rapidly growing number of AI enablement projects we are undertaking and the growing percentage of fixed price projects in our bookings. We interpret these developments as a precursor to more AI-driven outcomes-based projects in our industry as procurement organizations slowly adapt. What will not change is our focus on our clients, on our people and on the business we run every day. And I would like to take this opportunity to thank them for their trust and commitment. And with that, we will now open the lines for questions. Dominic?

Operator: [Operator Instructions] First question will be from Jerome Dubreuil at Desjardins Capital Markets.

Jerome Dubreuil: First one I have is I'm wondering whether there were some one-timers in the quarter that would explain the performance, something that may not recur in the coming quarters?

Paul Raymond: Thanks for the question, Jerome. The biggest thing was utilization, as we've mentioned. We are waiting for -- we're waiting for some larger projects to start. And of course, we have highly qualified people who want to hang on to. So when they're not being used, it really impacts the gross margins and revenue and everything else that goes with it because you're carrying the cost without having the revenue coming for it. So that's the big thing. There were some minor changes from a tax perspective and annual salary increases that start April 1, but the biggest thing was the utilization.

Jerome Dubreuil: Second one for me is in the U.S., we've seen a change in the trend in the quarter. Is there something specific that would explain that?

Paul Raymond: Can you be more specific, Jerome?

Jerome Dubreuil: Yes, sorry. Well, the growth in the U.S., I think, was not as good this quarter as it was in the previous quarters.

Bernard Dockrill: Jerome, it's Bernard. Yes, to answer your question, really, the softness in the U.S. market was really a -- as I mentioned, in the Salesforce space. We had a slowdown where projects that we had planned to start. That kind of led to some of the utilization issues that Paul talked to with the one-timers there as well. So I'd say the biggest single factor in the U.S. results, which is now part of the enterprise -- the Salesforce practice included in the Enterprise Transformation results that we presented there is the Salesforce start-up. With that said, as I mentioned, the pipeline for opportunities, and I'll highlight it through our cross-selling activities with existing clients. We've got a robust pipeline of new opportunities that we're pursuing there that keep us committed to that space.

Jerome Dubreuil: And last one for me. Respectfully, why does it make sense to sell the company now or to explore the strategic review? I mean, it seems like you're saying the issues are temporary, but it's not exactly easy for a buyer to see that. So if you can explain that a bit further, please.

Paul Raymond: Thanks for the question, Jerome. First, I mean, as we announced previously, we -- the Board initiated the review to evaluate a broad range of alternatives. So it includes mergers, combinations, privatization, sale is only one of those options, recapitalizing or maybe do nothing, right? We believe that the company is not being valued at what it's worth, which is impacting our ability to grow. We went public to finance growth and being able to use our stock as a currency, and we can't right now. So despite everything that we've done since going public in 2018, the company is worth less today on paper than it was 8 years ago. So we're looking at all of our options. So it's the right thing to do. The Board should be looking at things like that on a regular basis. So that's why we did it.

Operator: Next question will be from Kevin Krishnaratne at Scotiabank.

Paul Raymond: Kevin?

Kevin Krishnaratne: Hello. Can you hear me.

Paul Raymond: Yes, I can hear you now.

Kevin Krishnaratne: Yes. Perfect. Sorry about that. You mentioned some stats on the call, 70% of bookings from new business. I don't know if that's a new sort of disclosure or number you provided. Just curious how that's been trending and what's sort of driving the new business opportunities for you?

Bernard Dockrill: Thanks, Kevin, for the question. So the new business is really just new opportunities outside of -- so it excludes everything that's not a change request or add-on or renewal. So new projects, new areas within existing clients as well as with new clients. And we have provided color in the past kind of on the renewals. So last quarter was a heavy renewal quarter. And if you compare it to this quarter, we had less renewals and more of the pipeline bookings were associated with new projects, new engagements. And I highlighted the 28%, 29% that was from new clients as well.

Kevin Krishnaratne: Okay. Got you. And then the second on the bookings, you talked about you're seeing a higher number or a higher mix of fixed price deals. I'm wondering if you can give a number on how much of your business is fixed price or any way to understand how that type of business has been trending over the past couple of quarters?

Paul Raymond: Pierre, do you want to mention our business is fixed price?

Pierre Blanchette: It's the fixed price and fixed price-like because we have certain engagement where we have -- we are on a time and materials basis, but it's on a -- we look at it from a fixed engine. So it runs around the 40%.

Paul Raymond: And that's been growing.

Kevin Krishnaratne: Okay. The next question I just want to flip to, you did talk about the different verticals that were stronger and softer. And I know you talked about some of the cross-sell opportunities. So I'm just curious how are deal sizes in the pipe trending? And do we -- do you think there's a good line of sight to book-to-bill ultimately crossing over the one turns level in the coming quarter? Just what is the opportunity set in your pipeline looking like?

Bernard Dockrill: Well, I won't provide any guidance on kind of where we see the bookings to go. The pipeline is stronger quarter-over-quarter. As deals take longer to close, we're still adding deals at the same volume we were adding them before. So there's a little bit of lag as we take longer. So the upside of bookings being lower is the pipeline of -- and again, as Paul said earlier, late-stage opportunities, because they've been delayed, has grown.

Kevin Krishnaratne: Got you. Just the last one. Without providing -- I know you don't give guidance, but as we think about the next quarter, are there any onetime items or bigger projects that occurred in the prior year period that we should be aware of that could impact you on the top line, like, any projects that might be ramping down? Just any color to help us there.

Paul Raymond: Yes. No, like you said, we're not going to provide guidance. But for us, right now, it's business as usual. Folks are focused on business, trying to close the -- accelerate the deals in the pipeline and while the process goes on in parallel. So...

Operator: [Operator Instructions] Next question will be from Vincent Colicchio at Barrington Research.

Vincent Colicchio: So Paul, the U.S. market has been relatively strong for some quarters. This quarter, a little bit not so much. But do you see this as a cyclical thing? Or do you think the U.S. is a structurally stronger market for you? And should you be putting more resources into the U.S. from a relative standpoint?

Paul Raymond: So yes, thanks for the question, Vince. So on the Q1 numbers, as Bernard was saying, the biggest impact we had was really in our Salesforce business, where we're in between. We're waiting for some projects to start and others finished. So we had a lot of people not being billable. So that hurts utilization and revenue and margin. So we had to go through that, which makes it a very soft quarter for us. On the second part, the U.S. is the largest market in the world for our services. So yes, it's been a focus of ours. If you look for the past 8 years, we've gone from 0 to more than half of our business coming from the U.S. We will keep investing there. The last acquisition we did was in the U.S. Now that being said, the specialties that we've built there, we're deploying globally. So the stuff that -- and that's why we're reporting the business differently. This is actually how we run the business today. So we have our enterprise application transformation team that is driving this transformation at some of our clients, and we can leverage our ISSG team to open up doors in accounts where we have these long-term relationships. So the intent is to leverage the long-term relationship from our ISSG group all over the world to bring in our higher value, higher value-creating assets that we've built over time. So yes, definitely, we definitely want to grow the U.S. market. And it's just natural. It's larger than every other market that we're in. So it should have a dominating position eventually.

Vincent Colicchio: And in Canada, do you have visibility to an improvement in the government IT spending side?

Paul Raymond: So in Canada, there are several things going on, as Bernard was saying, the Quebec market, I would take it separate than everything else. Our energy nuclear business is doing extremely well and growing. And financial services outside of Quebec are also doing well. In Quebec, we made a conscious decision a couple of years ago to get out of the government lower margin business where price is the only deciding factor. Now we do some work with the government. We will keep doing some public sector work, but we're focused on the higher-value services like what we've built in the U.S. and what we're building in Canada as well. So there is some transformation going on there. But at the same time, there are some headwinds in Quebec specifically that we're addressing.

Vincent Colicchio: And one last one. Pierre, what was the contribution of eVerge in the quarter?

Pierre Blanchette: In the quarter, I don't have that number. It's integrated in our Enterprise Transformation segment.

Paul Raymond: Basically, after a year, Vince, we integrate the businesses. We track them for 12 months and then they're fully integrated into that.

Pierre Blanchette: And from a comparability purpose, we had 2 months in the prior segment -- prior year quarter of eVerge, and now we have 3 months. So there's a 1-month difference. It's not material.

Operator: Ladies and gentlemen, at this time, we have no other questions, which concludes our conference call for today. We would like to thank you for attending and ask that you please disconnect your lines. Thank you, and have a great day.