Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 138

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 138
---
4 million,                                                                                                                                                    
 respectively, of acquisition costs recorded in acquisition-related costs and $0.3 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 six months ended June 30, 2025 and 2024, the figures include $0.2 million and $5.4 million, respectively, of acquisition costs recorded in acquisition-related costs and $1.6 million and $0.7 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, including IFS, Onestream and Ceridian Dayforce.                                     |

| (4) | Represents (i) consulting costs associated with rebranding efforts in connection with our name change to                                                                                                                                                
 Legence that we do not expect to recur in the future, (ii) upfront consulting and out-of-pocket costs related to developing and launching the cross-selling framework amongst our brands, many of which were more recently acquired and integrated into 
 the Legence brand, (iii) consulting and legal fees associated with education and marketing efforts for our clients with respect to utilizing certain government incentive programs and (iv) consulting, legal, accounting, and other expenses in        
 connection with non-recurring extraordinary company transactions, including fees related to our IPO that did not meet the requirements to be deferred issuance costs.                                                                                   |

99

The following table provides a reconciliation of our Net Loss, the most directly comparable financial measure presented in accordance with GAAP, to Adjusted EBITDA, and a calculation of Adjusted EBITDA Margin for the periods presented herein (dollars in thousands):

|                                                                   |     | Predecessor                     
 For the Year Ended December 31, |    2022 |    |     |   |    2023 |    |     |   |    2024 |    |
|:------------------------------------------------------------------|:----|:--------------------------------|--------:|:---|:----|:--|--------:|:---|:----|:--|--------:|:---|
| Net loss                                                          |     | $                               | (82,274 | )  |     | $ | (46,026 | )  |     | $ | (27,643 | )  |
| Interest expense, net of capitalized