Company: LGN
Filing Date: 2025-09-02
Form Type: S-1/A
Source: 0001193125-25-193346
Chunk: 143

Company: Legence Corp.
Filing Date: 2025-09-02
Form: S-1/A
Chunk 143
---
-price contracts in our backlog and awarded contracts because they have defined revenue values. We do not include cost-plus contracts, which are primarily generated in our Maintenance & Service service line, in our backlog and awarded contracts because their total revenue values are not known. Historically, cost-plus projects have comprised a relatively small portion of our revenue. We calculate our book-to-billratio by taking our additions to backlog and awarded contracts, excluding additions that were attained through acquisition, for the period, and dividing it by revenue from fixed-price contracts for the same period. A book-to-billratio of 1.0 indicates that we are booking backlog and awarded contracts at the same pace as we are recognizing revenue, suggesting stable revenue in future periods. A book-to-billratio above 1.0 indicates that backlog and awarded contracts are outpacing revenue, which could indicate an increase in revenue in future periods. Conversely, a book-to-billratio below 1.0 indicates that backlog and awarded contracts are trailing revenue, which could indicate a decrease in future revenue. Given that backlog and awarded contracts and book-to-billratio are operational measures and that our methodology for calculating backlog and awarded contracts and book-to-billratio does not meet the definition of a non-GAAPmeasure, as that term is defined by the SEC, a quantitative reconciliation for each is not required nor provided. The following tables present our backlog and awarded contracts and book-to-billratio by reportable segment with book-to-bill ratio calculated during the periods noted (dollars in thousands):

| Engineering & Consulting           |     | As of June 30, 
 2024           |         |     | 2025 |         |
|:-----------------------------------|:----|:---------------|--------:|:----|:-----|--------:|
| Backlog                            |     | $              | 560,721 |     | $    | 611,651 |
| Awarded contracts                  |     |                | 249,900 |     |      | 274,566 |
| Backlog and awarded contracts      |     | $              | 810,621 |     | $    | 886,217 |
| Book-to-bill ratio                 
 for the three months ended June 30 |     |                |    0.7x |     |      |    1.0x |
| Book-to-bill ratio                 
 for the six months ended June 30   |     |                |    1.1x |     |      |