Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 143

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 143
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 general contractors who subcontract MEP services to us as part of a larger
project. We served approximately 19,000 clients from 2019 through 2024. In 2024, we generated less than 2% of our revenues from the federal government. Excluding maintenance contracts which can span multiple years, we typically complete most of our
jobs within six months. Approximately 70% of our revenues over the period from 2021 to 2024 were from jobs that had contract prices of less than $10 million, after giving pro forma effect to acquisitions made over that period. Our largest
client represented approximately 4% of our revenues over the period from 2021 to 2024, after giving pro forma effect to acquisitions made over that period. In certain cases, we manage third-party contractors on behalf of our clients and we may pass
those costs on directly to our customers as a specific line item or incorporate them into our overall contract price for the job. In the years ended December 31, 2024 and 2023, respectively, we paid

97

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 subcontractors approximately $350.7 million and $234.8 million, respectively, in connection with their work on our projects. We also frequently purchase certain equipment that we install in our clients’ buildings. We may pass the cost of equipment on directly to our customers as a specific line item or incorporate the cost into our overall contract price for the job. In the years ended December 31, 2024 and 2023, we spent approximately $457.3 million and $385.8 million, respectively, on equipment for our clients’ projects. We are headquartered in San Jose, California and, as of June 30, 2025, we had approximately 6,000 full-time employees across 70 offices and 45 U.S. states. For the year ended December 31, 2024, we generated $2,098.6 million in revenue, $27.6 million in net loss and $229.6 million in Adjusted EBITDA representing a Net Loss Margin of (1.3)% and Adjusted EBITDA Margin of 10.9%. For the six months ended June 30, 2025, we generated $1,104.8 million in revenue, $23.0 million in net loss and $123.0 million in Adjusted EBITDA