Company: LGN
Filing Date: 2025-09-02
Form Type: S-1/A
Source: 0001193125-25-193346
Chunk: 9

Company: Legence Corp.
Filing Date: 2025-09-02
Form: S-1/A
Chunk 9
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 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 contract prices 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 we may pass those costs on directly to our customers as a specific line item or incorporate them into our overall contract price
for the job. In the years ended December 31, 2024 and 2023, respectively, we paid subcontractors approximately $350.7 million and $234.8 million, respectively, in connection with their work on our projects. We also frequently purchase certain
equipment that we install in our clients’ buildings. We may pass the cost of equipment on directly to our customers as a specific line item or incorporate the cost into our overall contract price for the job. In the years ended December 31,
2024 and 2023, we spent approximately $457.3 million and $385.8 million, respectively, on equipment for our clients’ projects.

We are headquartered in San Jose, California and, as of June 30, 2025, we had approximately 6,000 full-time employees across 70 offices and 45
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 a Net Loss Margin of (1.3)% and Adjusted EBITDA Margin of
10.9%. For the six months ended June 30, 2025, we generated $1,104.8 million in revenue, $23.0 million in net loss and $123.0 million in Adjusted EBITDA representing a Net Loss Margin of (2.1)% and Adjusted EBITDA Margin of 11.1%.
Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures, for a reconciliation to the nearest generally accepted accounting principles in the United States (“GAAP”) financial
measure, please see “Non-GAAP Financial Measures” below.

2

Our Market Opportunity Demand for our services is