Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 122

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 122
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 general and administrative expenses as a result of operating as a
publicly traded company, such as expenses associated with SEC reporting

85

requirements, including annual and quarterly reports, SOX compliance expenses, expenses associated with listing our Class A Common Stock on the Nasdaq, independent auditor fees, legal fees, investor relations expenses, registrar and transfer agent fees, director and officer insurance expenses and director and officer compensation expenses. These incremental general and administrative expenses are not reflected in the historical financial statements of our predecessor. Additionally, in anticipation of this offering, we have hired additional employees and consultants, including accounting, finance, tax, human resources and legal personnel, in order to prepare for the requirements of being a publicly traded company. Income Taxes Legence is subject to U.S. federal and state income taxes as a corporation. Our predecessor was treated as a pass-through entity for U.S. federal income tax purposes, and as such, was generally not subject to federal income tax at the entity level. However, several of the predecessor’s subsidiaries are corporations for tax reporting purposes and therefore require a U.S. federal and state income tax provision for that portion of such entities’ results. Results of Operations For the Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024 A summary of our consolidated results of operations, selected data as a percentage of revenues for the periods indicated, as well as the dollar and percentage change from the prior year period is presented as follows (dollars in thousands):

|                                                     |     | Three Months Ended 
 June 30            |    2024 |   |     |   |    2025 |   |     | Year over Year 
 Change         |         |   |     |   |       |    |
|:----------------------------------------------------|:----|:-------------------|--------:|:--|:----|:--|--------:|:--|:----|:---------------|--------:|:--|:----|:--|------:|:---|
|                                                     |     | $                  |         |   |     | $ |         |   |     | $              |         |   |     | % |       |    |
| Revenue                                             |     | $                  | 520,787 |   |     | $ | 598,890 |   |     | $              |  78,103 |   |     |   |  15.0 | %  |
| Cost of revenue                                     |     |                    |