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Legence (LGN) investor relations material
Legence Registration Filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and business model
Provides engineering, installation, and maintenance for mission-critical building systems, focusing on high-growth sectors like technology, life sciences, healthcare, and education.
Operates through two segments: Engineering & Consulting and Installation & Maintenance, with a national footprint and over 6,300 employees across 74 offices in 45 states.
Revenue is primarily from fixed-price contracts, with 67.5% from retrofits, upgrades, and maintenance, and 32.5% from new building projects in 2024.
Client base includes over 19,000 clients since 2019, with significant diversity and no single client representing more than 5% of revenues.
Pursues growth through organic expansion in high-growth end markets and strategic acquisitions, having completed about 20 acquisitions since December 2020.
Financial performance and metrics
2024 revenue: $2,098.6 million; net loss: $27.6 million; Adjusted EBITDA: $229.6 million (10.9% margin).
Nine months ended September 30, 2025: revenue $1,812.8 million; net loss $22.6 million; Adjusted EBITDA $211.8 million (11.7% margin).
Revenue grew at a 39% CAGR from 2021 to 2024 (16% pro forma for acquisitions).
Backlog and awarded contracts as of September 30, 2025: $3.1 billion, up 29% year-over-year.
Maintenance & Service revenue grew at a 23% CAGR from 2021 to 2024, now 15% of total revenue.
Use of proceeds and capital allocation
No proceeds to the company from this offering; all shares sold by existing stockholders.
Net proceeds from the September 2025 IPO ($780.2 million) were used to repay term loan debt and for general corporate purposes.
Ongoing capital allocation includes funding acquisitions, expanding fabrication capacity, and investing in technology and workforce development.
- TimeTickerHeadlineOpen
- 6 FebJ
Strong growth, digital innovation, and margin expansion drive robust multi-year financial outlook. - 6 Feb004020
Operating profit rose on cost savings and high-value sales, with major US expansion underway. - 6 FebJOUT
Net sales up 31%, gross margin at 36.6%, and net loss narrowed to $3.3 million. - 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high. - 6 FebCRI
Net loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway.
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