Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 116

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 116
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 35,428 Other long-term liabilities17,590 35,856 Total liabilities(a)1,772,796 2,148,908 Commitments and contingencies (Note 18)Stockholders' equity / Member's equityMember's equity— 443,738 Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of September 30, 2025— — Class A common stock $0.01 par value, 1,000,000,000 shares authorized, 58,510,567 shares issued and outstanding as of September 30, 2025585 — Class B common stock $0.01 par value, 200,000,000 shares authorized, 46,680,762 shares issued and outstanding as of September 30, 2025467 — Additional paid-in capital664,299 — Accumulated deficit(277,228)(250,169)Accumulated other comprehensive (loss) income(248)9,111 Total Legence stockholders' equity / Member's equity387,875 202,680 Noncontrolling interests439,598 912 Total stockholders' equity / Member's equity827,473 203,592 Total liabilities and stockholders' equity / Member's equity$2,600,269 $2,352,500 

(a) As of September 30, 2025, total assets include $19.7 million and total liabilities include $9.0 million for consolidated variable interest PCs as defined in “Note 6—Variable Interest Entities and Equity Method Investments”. Substantially all of the remaining total assets and total liabilities, excluding the Tax receivable agreement liability and the related deferred tax assets, are attributable to the consolidated Legence Holdings variable interest entity. As of December 31, 2024, total assets include $40.1 million and total liabilities include $5.9 million, respectively, for consolidated variable interest PCs. Assets of the variable interest entities can only be used to settle the liabilities of those entities. Refer to “Note 6—Variable Interest Entities and Equity Method Investments” for additional information.

See Notes to Condensed Consolidated Financial Statements.

6

Legence Corp.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Three Months Ended September 30,Nine Months Ended September 30,202520242025