Company: LGN
Filing Date: 2025-05-14
Form Type: DRS/A
Source: 0000950123-25-005247
Chunk: 153

Company: Legence Corp.
Filing Date: 2025-05-14
Form: DRS/A
Chunk 153
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 across the United States.

Approximately 25% of our revenues in 2024 were generated from clients that engaged us in both our Engineering & Consulting and
Installation & Maintenance segments, after giving pro forma effect to acquisitions made over that period. Additionally, six of our top ten clients engaged us in both segments during the period from 2021 to 2024, after giving pro forma effect to
acquisitions made over that period. We believe that providing a one-stop solution for engineering, installing and maintaining MEP systems results in lower total cost, fewer change orders and faster turnaround times for our clients and higher win
rates, better customer retention, incremental margin and more recurring revenue for us.

Our clients include large technology and
industrial companies and public sector institutions who contract with us directly to provide services, as well as intermediaries such as architects and general contractors who subcontract MEP services to us as part of a larger project. We served
approximately 19,000 clients from 2019 through 2024. 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 values 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 pass the cost of those subcontractors on to our customers. We describe our revenues excluding the cost of these subcontractors as
“Self-Perform Contribution.”

We are headquartered in San Jose, California and, as of December 31, 2024, we had
approximately 5,700 full-time employees across 70 offices in 20 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 Net Loss
Margin of (1.3)%, Adjusted EBITDA Margin of 10.9%, Gross Margin of 20.5% and Self-Perform Margin of 13.1%. Adjusted EBITDA, Adjusted EBITDA Margin and Self-Perform Margin are non-GAAP financial measures, for a
reconciliation to the