Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 26

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 26
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379 $(676)$(22,629)$(9,443)Interest expense28,183 23,707 88,228 65,392 Interest income(1,069)(523)(2,588)(4,356)Income tax expense4,078 4,564 13,662 9,500 Depreciation and amortization27,490 28,666 85,611 80,987 Credit agreement amendment fees(1)64 — 2,990 4,119 Net loss (gain) on sale and disposition of property and equipment21 (118)(199)(299)Loss on debt extinguishment5,685 — 5,685 — Acquisition and integration costs(2)1,169 881 2,935 7,069 System deployment costs(3)— 1,393 2,140 3,909 Strategic initiative costs(4)4,181 2,022 14,128 7,233 Stock-based compensation expense18,640 4,040 21,881 8,726 Adjusted EBITDA$88,821 $63,956 $211,844 $172,837 Net income (loss) margin0.1 %(0.1)%(1.2)%(0.6)%Adjusted EBITDA margin12.5 %11.4 %11.7 %11.1 %

(1)Represents costs incurred in connection with our debt refinancings in each of the periods presented. 

(2)For the three months ended September 30, 2025 and 2024, the figures include $0.8 million and $0.2 million, respectively, of acquisition costs recorded in acquisition-related costs and $0.4 million and $0.7 million, respectively, of acquisition integration costs recorded in selling, general and administrative costs in the Consolidated Condensed Statement of Operations. For the nine months ended September 30, 2025 and 2024, the figures include $1.0 million and $5.6 million, respectively, of acquisition costs recorded in acquisition-related costs and $1.9 million and $1.5 million, respectively, of acquisition integration costs recorded in selling, general and administrative costs in the Consolidated Condensed Statement of Operations. 

(3)Represents consulting and initial upfront costs associated with implementing and optimizing certain enterprise resource planning systems