Quebec government computer networks affected by widespread Microsoft cyberattack
The tech company issued an alert to its customers of the SharePoint software on Saturday, warning of a zero-day exploit being used to carry out attacks. The software is used by clients around the world, including government agencies and businesses, for internal document sharing and collaboration.
Quebec's Ministry of Cybersecurity and Digital Technology said in a statement Tuesday afternoon that it took immediate action and is conducting an investigation into the vulnerability.
'This vulnerability affects the systems of several governments and companies, including certain Quebec government departments and agencies,' the ministry said.
As a result, various Quebec public administration websites may be shut down Tuesday as a preventive measure in order to apply 'fixes and mitigation measures.'
The website for Retraite Québec displayed a notice on Tuesday, telling clients that it was 'currently experiencing difficulties,' though it was not immediately clear if the issue was related to the Microsoft vulnerability.
The ministry said it is working to ensure that appropriate solutions are implemented to limit the impact to online users.
Microsoft has issued an emergency fix to close the vulnerability for SharePoint Server 2019 and SharePoint Server Subscription Edition.
The Associated Press reported that security researchers warned that the exploit is a serious one and can allow actors to fully access SharePoint file systems, including services connected to SharePoint, such as Teams and OneDrive.
With files from The Associated Press
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We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release including statements regarding our future results of operations and financial position, business strategy, prospective products and the plans and objectives of management for future operations, including, among others, statements regarding the liquidity, growth and profitability strategies and factors affecting our business are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Without limiting the foregoing, in some cases, you can identify forward-looking statements by terms such as 'aim,' 'may,' 'will,' 'should,' 'expect,' 'exploring,' 'plan,' 'anticipate,' 'could,' 'intend,' 'target,' 'project,' 'would,' 'contemplate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'seek,' or 'continue' or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. No forward-looking statement is a guarantee of future results, performance or achievements, and one should avoid placing undue reliance on such statements. Forward-looking statements are based on our management's current expectations, beliefs and assumptions and on information currently available to us. Such beliefs and assumptions may or may not prove to be correct. Additionally, such forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified in Part II, Item 7. 'Management's Discussion and Analysis of Financial Condition and Results of Operations,' and Part I, Item 1A. 'Risk Factors' in our Annual Report on Form 10-K for the year ended March 28, 2025, as any such factors may be updated from time to time in our Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission (the 'SEC'). 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The key measures we consider are non-GAAP Gross Profit, non-GAAP Gross Margin, non-GAAP Operating Expenses, non-GAAP Operating Income, non-GAAP Operating Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP Profit before Tax, non-GAAP Income Tax Provision, non-GAAP Effective Tax Rate, non-GAAP Net Income Attributable to Allegro MicroSystems, Inc, non-GAAP Basic and Diluted Earnings per Share, non-GAAP Free Cash Flow, and non-GAAP Free Cash Flow as a percentage of net sales (collectively, the 'Non-GAAP Financial Measures'). These Non-GAAP Financial Measures provide supplemental information regarding our operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or that occur relatively infrequently and/or that management considers to be unrelated to our core operations, and in the case of non-GAAP Income Tax Provision, management believes that this non-GAAP measure of income taxes provides it with the ability to evaluate the non-GAAP Income Tax Provision across different reporting periods on a consistent basis, independent of special items and discrete items, which may vary in size and frequency. These Non-GAAP Financial Measures are used by both management and our board of directors, together with the comparable GAAP information, in evaluating our current performance and planning our future business activities. The Non-GAAP Financial Measures are supplemental measures of our performance that are neither required by, nor presented in accordance with, GAAP. These Non-GAAP Financial Measures should not be considered as substitutes for GAAP financial measures, such as gross profit, gross margin, net income or any other performance measures derived in accordance with GAAP. Also, in the future we may incur expenses or charges, such as those being adjusted in the calculation of these Non-GAAP Financial Measures. Our presentation of these Non-GAAP Financial Measures should not be construed as an inference that future results will be unaffected by unusual or nonrecurring items. These Non-GAAP Financial Measures exclude costs related to acquisition and related integration expenses, amortization of acquired intangible assets, stock-based compensation, restructuring actions, related-party activities and other non-operational costs. Tax effect of adjustments to GAAP results—Represents the estimated income tax effect of the adjustments to non-GAAP Profit before Tax described below and elimination of discrete tax adjustments. Three-Month Period Ended June 27, 2025 March 28, 2025 June 28, 2024 (Dollars in thousands) GAAP Gross Profit $ 91,302 $ 79,879 $ 74,771 GAAP Gross Margin (% of net sales) 44.9 % 41.4 % 44.8 % Non-GAAP adjustments Transaction-related costs — — (1) Purchased intangible amortization 5,089 4,957 4,875 Restructuring costs 705 2,350 1,200 Stock-based compensation 888 697 561 Total Non-GAAP Adjustments $ 6,682 $ 8,004 $ 6,635 Non-GAAP Gross Profit $ 97,984 $ 87,883 $ 81,406 Non-GAAP Gross Margin (% of net sales) 48.2 % 45.6 % 48.8 % Three-Month Period Ended June 27, 2025 March 28, 2025 June 28, 2024 (Dollars in thousands) GAAP Operating Expenses $ 94,042 $ 93,077 $ 85,401 Research and Development Expenses GAAP Research and Development Expenses 46,500 47,618 45,204 Non-GAAP adjustments Transaction-related costs — 3 1,029 Purchased intangible amortization 3 — — Restructuring costs 1,131 4,429 169 Stock-based compensation 2,911 3,406 3,735 Other costs (1) 35 — — Non-GAAP Research and Development Expenses 42,420 39,780 40,271 Selling, General and Administrative Expenses GAAP Selling, General and Administrative Expenses 47,542 45,459 40,197 Non-GAAP adjustments Transaction-related costs 130 116 814 Purchased intangible amortization 535 535 535 Restructuring costs 1,184 1,656 1,045 Stock-based compensation 6,963 5,513 5,822 Other costs (1) 5,838 6,921 811 Non-GAAP Selling, General and Administrative Expenses 32,892 30,718 31,170 Total Non-GAAP Adjustments 18,730 22,579 13,960 Non-GAAP Operating Expenses $ 75,312 $ 70,498 $ 71,441 (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure, such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions. 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Reconciliation of Non-GAAP Profit before Tax Three-Month Period Ended June 27, 2025 March 28, 2025 June 28, 2024 (Dollars in thousands) GAAP Loss before Income Taxes $ (9,993) $ (18,438) $ (16,573) Transaction-related costs 130 119 1,842 Transaction-related interest 860 272 709 Purchased intangible amortization 5,627 5,492 5,410 Restructuring costs 3,020 8,482 2,414 Stock-based compensation 10,762 9,616 10,118 Other costs (1) 7,304 6,689 2,807 Total Non-GAAP Adjustments $ 27,703 $ 30,670 $ 23,300 Non-GAAP Profit before Tax $ 17,710 $ 12,232 $ 6,727 (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions and income (loss) in earnings of equity investments. Three-Month Period Ended June 27, 2025 March 28, 2025 June 28, 2024 (Dollars in thousands) GAAP Income Tax Provision (Benefit) $ 3,169 $ (3,700) $ 1,040 GAAP effective tax rate (31.7)% 20.1 % (6.3)% Tax effect of adjustments to GAAP results (1,483) 4,126 (395) Non-GAAP Income Tax Provision $ 1,686 $ 426 $ 645 Non-GAAP effective tax rate 9.5 % 3.5 % 9.6 % Reconciliation of Non-GAAP Net Income Attributable to Allegro MicroSystems, Inc. and Non-GAAP Earnings per Share Three-Month Period Ended June 27, 2025 March 28, 2025 June 28, 2024 (Dollars in thousands) GAAP Net Loss Attributable to Allegro MicroSystems, Inc. (1) $ (13,227) $ (14,800) $ (17,675) GAAP Basic weighted average common shares 184,587,027 184,169,928 193,465,708 GAAP Diluted weighted average common shares 184,587,027 184,169,928 193,465,708 GAAP Basic Loss per Share $ (0.07) $ (0.08) $ (0.09) GAAP Diluted Loss per Share $ (0.07) $ (0.08) $ (0.09) Transaction-related costs 130 119 1,842 Transaction-related interest 860 272 709 Purchased intangible amortization 5,627 5,492 5,410 Restructuring costs 3,020 8,482 2,414 Stock-based compensation 10,762 9,616 10,118 Other costs (2) 7,304 6,689 2,807 Total Non-GAAP Adjustments 27,703 30,670 23,300 Tax effect of adjustments to GAAP results (3) 1,483 (4,126) 395 Non-GAAP Net Income Attributable to Allegro MicroSystems, Inc. $ 15,959 $ 11,744 $ 6,020 Basic weighted average common shares 184,587,027 184,169,928 193,465,708 Diluted weighted average common shares 185,416,258 185,247,919 194,705,716 Non-GAAP Basic Earnings per Share $ 0.09 $ 0.06 $ 0.03 Non-GAAP Diluted Earnings per Share $ 0.09 $ 0.06 $ 0.03 (1) GAAP Net Loss Attributable to Allegro MicroSystems, Inc. represents GAAP Net Loss adjusted for Net Income Attributable to non-controlling interests. 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