Legence Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Legence Corp reported revenue of $2.6B and net income of ($77.3M).
| Line item | Dec 31, 2025 · FY |
|---|---|
| Revenue | $2.6B |
| Cost of revenue | $2.0B |
| Gross profit | $535.9M |
| Selling, general and administrative | $342.6M |
| Depreciation and amortization | $100.4M |
| Acquisition-related costs | $5.7M |
| Changes in fair value of contingent consideration liabilities (including $13,424 for the year ended December 31, 2023 from related parties) | $0 |
| Gain on sale of property and equipment | ($326.0K) |
| Goodwill impairment | $25.0M |
| Long-lived asset impairment | $2.4M |
| Equity in earnings of joint venture | ($1.4M) |
| Income from operations | $61.6M |
| Interest expense, net of capitalized interest (including $13,340, $13,316, and $12,396 for years ended December 31, 2025, 2024, and 2023, respectively, from related parties) | $101.8M |
| Interest income | ($4.5M) |
| Loss on debt extinguishment | $6.7M |
| Credit agreement amendment fees | $6.3M |
| Other expense (income) , net | $6.5M |
| Total other expense, net | $116.7M |
| Loss before income tax | ($55.1M) |
| Income tax expense (benefit) | $22.2M |
| Net loss | ($77.3M) |
| Net (loss) income attributable to noncontrolling interests | ($17.5M) |
| Net loss attributable to Legence | ($59.8M) |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 |
|---|---|---|---|
| Revenue | $1.3B | $1.0B | $708.0M |
| Cost of revenue | $1.0B | $851.7M | $559.9M |
| Gross profit | $220.2M | $186.2M | $148.1M |
| Selling, general and administrative | $147.6M | $116.1M | $85.9M |
| Depreciation and amortization | $38.0M | $36.8M | $24.2M |
| Acquisition-related costs | $415.0K | $11.4M | $795.0K |
| Gain on sale of property and equipment | ($118.0K) | ($64.0K) | $21.0K |
| Goodwill impairment | $21.6M | — | — |
| Long-lived asset impairment | $19.5M | — | — |
| Equity in earnings of joint venture | ($88.0K) | ($504.0K) | ($24.0K) |
| (Loss) income from operations | ($6.6M) | $22.4M | $37.2M |
| Interest expense | $16.9M | $17.0M | $28.2M |
| Interest income | ($1.9M) | ($1.3M) | ($1.1M) |
| Credit agreement amendment fees | $2.0M | $3.2M | $64.0K |
| Loss on debt extinguishment | $13.0K | — | $5.7M |
| Other income, net | ($169.0K) | ($569.0K) | ($123.0K) |
| Total other expense, net | $16.9M | $18.4M | $32.7M |
| (Loss) income before income tax | ($23.5M) | $4.0M | $4.5M |
| Income tax expense (benefit) | $11.1M | ($13.4M) | $4.1M |
| Net loss | ($34.6M) | $17.4M | $379.0K |
| Net (loss) income attributable to noncontrolling interests | ($6.7M) | $1.3M | $955.0K |
| Net loss attributable to Legence | ($27.8M) | $16.1M | ($576.0K) |
| Basic (in usd per share) | -$0.37 | $0.24 | — |
| Diluted (in usd per share) | -$0.37 | $0.13 | — |
| Basic (in shares) | 76.0M | 67.2M | — |
| Diluted (in shares) | 76.0M | 108.4M | — |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Cash and cash equivalents | $230.2M |
| Accounts receivable, net | $584.1M |
| Contract assets, net | $259.9M |
| Prepaid expenses and other current assets | $36.2M |
| Total current assets | $1.1B |
| Property and equipment, net | $92.3M |
| Operating lease right-of-use assets (including $20,025 and $23,375 as of December 31, 2025 and 2024, respectively, from related parties) | $117.1M |
| Goodwill | $764.3M |
| Intangible assets, net | $551.4M |
| Other assets | $43.8M |
| Total assets | $2.7B |
| Accounts payable | $246.2M |
| Accrued compensation and benefits | $68.1M |
| Accrued and other current liabilities | $16.5M |
| Contract liabilities | $339.5M |
| Current portion of operating lease liabilities (including $3,920 and $3,654 as of December 31, 2025 and 2024, respectively, from related parties) | $21.3M |
| Current portion of long-term debt | $16.7M |
| Total current liabilities | $708.2M |
| Long-term debt, net of current portion (including $84,735 and $211,039 as of December 31, 2025 and 2024, respectively, from related parties) | $812.4M |
| Operating lease liabilities, net of current portion (including $17,282 and $20,960 as of December 31, 2025 and 2024, respectively, from related parties) | $103.8M |
| Tax receivable agreement liability - related party | $207.4M |
| Deferred tax liabilities, net | $46.7M |
| Other long-term liabilities | $12.1M |
| Total liabilities | $1.9B |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 | 0 |
| Common stock | $1.1M |
| Additional paid-in capital | $701.8M |
| Accumulated deficit | ($309.9M) |
| Accumulated other comprehensive (loss) income | ($698.0K) |
| Total Legence stockholders' equity / Member's equity | $392.2M |
| Noncontrolling interests | $396.6M |
| Total stockholders' equity / Member's equity | $788.8M |
| Total liabilities and stockholders' equity / Member's equity | $2.7B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 |
|---|---|---|---|
| Cash and cash equivalents | $292.0M | $244.6M | $176.0M |
| Accounts receivable, net | $918.9M | $827.3M | $588.4M |
| Contract assets, net | $382.2M | $355.8M | $234.3M |
| Prepaid expenses and other current assets | $55.1M | $43.0M | $39.0M |
| Total current assets | $1.6B | $1.5B | $1.0B |
| Property and equipment, net of accumulated depreciation of $115,490 and $98,650 as of June 30, 2026 and December 31, 2025, respectively | $130.4M | $115.4M | — |
| Operating lease right-of-use assets (including $18,598 and $20,025 as of June 30, 2026 and December 31, 2025, respectively, from related parties) | $153.5M | $143.8M | $106.5M |
| Goodwill | $822.5M | $842.0M | $782.9M |
| Intangible assets, net | $792.2M | $843.3M | $562.4M |
| Other assets | $192.9M | $68.1M | $29.6M |
| Total assets | $3.7B | $3.5B | $2.6B |
| Accounts payable | $429.0M | $350.3M | $224.3M |
| Accrued compensation and benefits | $139.1M | $120.3M | $89.8M |
| Accrued and other current liabilities | $81.4M | $73.8M | $25.7M |
| Contract liabilities | $517.9M | $543.3M | $285.9M |
| Current portion of operating lease liabilities (including $3,889 and $3,920 as of June 30, 2026 and December 31, 2025, respectively, from related parties) | $31.0M | $27.4M | $18.1M |
| Current portion of long-term debt | $26.2M | $18.3M | $16.3M |
| Total current liabilities | $1.2B | $1.1B | $660.0M |
| Long-term debt, net of current portion (including $97,162 and $84,735 as of June 30, 2026 and December 31, 2025, respectively, from related parties) | $1.0B | $1.0B | $812.6M |
| Operating lease liabilities, net of current portion (including $15,759 and $17,282 as of June 30, 2026 and December 31, 2025, respectively, from related parties) | $130.0M | $123.3M | $94.6M |
| Tax receivable agreement liability - related party | $342.7M | $208.8M | $146.5M |
| Deferred tax liabilities, net | $43.4M | $45.1M | $41.5M |
| Other long-term liabilities | $13.0M | $12.7M | $17.6M |
| Total liabilities | $2.8B | $2.5B | $1.8B |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of June 30, 2026 and December 31, 2025 | 0 | 0 | 0 |
| Common stock | $1.1M | $1.1M | $1.1M |
| Additional paid-in capital | $917.0M | $797.0M | $664.3M |
| Accumulated deficit | ($321.7M) | ($293.9M) | ($277.2M) |
| Accumulated other comprehensive income (loss) | $4.1M | $1.2M | ($248.0K) |
| Total Legence stockholders' equity | $600.5M | $505.4M | $387.9M |
| Noncontrolling interests | $377.1M | $445.6M | $439.6M |
| Total stockholders' equity | $977.5M | $951.0M | $827.5M |
| Total liabilities and stockholders' equity | $3.7B | $3.5B | $2.6B |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Net loss | ($77.3M) |
| Amortization of intangible assets | $82.3M |
| Depreciation of property and equipment | $31.9M |
| Goodwill impairment | $25.0M |
| Long-lived asset impairment | $2.4M |
| Amortization of debt issuance costs and discounts | $3.5M |
| Loss on debt extinguishment | $6.7M |
| Stock-based compensation | $67.5M |
| Changes in fair value of contingent consideration liabilities (including $13,424 for the year ended December 31, 2023 from related parties) | $0 |
| Deferred taxes | $15.3M |
| Tax receivable agreement liability remeasurement | $2.9M |
| Equity in earnings of joint venture | ($1.4M) |
| Return on investment in joint venture | $1.7M |
| Operating lease right-of-use asset lease expense | $18.3M |
| Other | $1.2M |
| Accounts receivable, net | ($130.1M) |
| Contract assets | ($71.2M) |
| Prepaid expenses and other current assets | $2.9M |
| Accounts payable | $117.9M |
| Accrued compensation and benefits | $12.3M |
| Accrued and other current liabilities | ($14.0M) |
| Contract liabilities | $172.2M |
| Operating lease liabilities, current and long-term | ($15.3M) |
| Other long-term assets and liabilities | $2.1M |
| Cash provided by operating activities | $256.9M |
| Purchases of property and equipment | ($37.9M) |
| Consideration paid for acquisitions, net of cash acquired | ($16.5M) |
| Proceeds from sale of property and equipment | $390.0K |
| Return of investment in joint venture | $0 |
| Cash used in investing activities | ($54.0M) |
| Term loan borrowings (including $2,968, $103,500, and $15,000 for the years ended December 31, 2025, 2024, and 2023, respectively, from related parties) | $59.6M |
| Term loan payments (including $74,797 in 2025 to related parties) | ($852.2M) |
| Notes payable payments | ($7.9M) |
| Finance lease payments | ($3.8M) |
| Cash distributions to Legence Parent | $0 |
| Cash contributions from Legence Parent | $0 |
| Proceeds from IPO, net of underwriting discounts and commissions | $780.2M |
| Debt issuance costs | ($1.6M) |
| Payments for deferred offering costs | ($28.1M) |
| Payments of contingent consideration (including ($20,663) and $(5,520) for the years ended December 31, 2024 and 2023, respectively, from related parties) | $0 |
| Cash (used in) provided by financing activities | ($53.8M) |
| Increase (decrease) in cash and cash equivalents | $149.0M |
| Cash and cash equivalents and restricted cash, beginning of period | $81.2M |
| Cash and cash equivalents, end of period | $230.2M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD |
|---|---|---|---|
| Net loss | ($17.2M) | $17.4M | ($22.6M) |
| Amortization of intangible assets | $66.0M | $32.6M | $61.9M |
| Depreciation of property and equipment | $20.5M | $9.7M | $23.7M |
| Goodwill impairment | $21.6M | — | — |
| Long-lived asset impairment | $19.5M | — | — |
| Amortization of debt issuance costs and discounts | $859.0K | $425.0K | $3.0M |
| Stock-based compensation | $96.5M | $36.7M | $21.9M |
| Compensation expense - Performance Interests | $15.6M | $3.8M | — |
| Deferred taxes | ($26.6M) | ($19.3M) | $6.4M |
| Equity in earnings of joint venture | ($592.0K) | ($504.0K) | ($848.0K) |
| Operating lease right-of-use asset lease expense | $14.4M | $6.9M | $13.0M |
| Other | $755.0K | $31.0K | $148.0K |
| Accounts receivable, net | ($151.1M) | ($59.2M) | ($139.4M) |
| Contract assets | ($53.7M) | ($25.7M) | ($46.2M) |
| Prepaid expenses and other current assets | ($2.9M) | ($1.5M) | $1.2M |
| Accounts payable | $105.3M | $26.1M | $94.5M |
| Accrued compensation and benefits | $42.7M | $24.0M | $34.4M |
| Accrued and other current liabilities | $1.9M | ($5.9M) | ($4.1M) |
| Contract liabilities | $51.4M | $79.1M | $120.0M |
| Operating lease liabilities, current and long-term | ($12.1M) | ($5.2M) | ($10.7M) |
| Other long-term assets and liabilities | $1.7M | $658.0K | ($223.0K) |
| Cash provided by operating activities | $194.5M | $120.1M | $162.1M |
| Purchases of property and equipment | ($41.9M) | ($17.8M) | ($24.7M) |
| Consideration paid for acquisitions, net of cash acquired | ($281.3M) | ($281.3M) | ($453.0K) |
| Proceeds from sale of property and equipment | $220.0K | $133.0K | $226.0K |
| Cash used in investing activities | ($322.9M) | ($299.0M) | ($25.0M) |
| Term loan borrowings (including $15,000 and $2,495 in 2026 and 2025, respectively, from related parties) | $200.0M | $200.0M | $2.5M |
| Term loan payments | ($5.0M) | ($2.5M) | ($795.1M) |
| Revolver borrowings | $25.0M | $25.0M | — |
| Revolver payments | ($25.0M) | ($25.0M) | — |
| Notes payable payments | ($3.3M) | ($1.9M) | ($6.1M) |
| Finance lease payments | ($2.9M) | ($1.3M) | ($2.7M) |
| Payments for deferred offering costs | ($60.0K) | ($60.0K) | ($21.2M) |
| Other | $1.4M | — | — |
| Cash provided by (used in) financing activities | $190.3M | $193.4M | ($42.3M) |
| Increase in cash and cash equivalents | $61.8M | $14.5M | $94.9M |
| Cash and cash equivalents, beginning of period | $230.2M | $230.2M | $81.2M |
| Cash and cash equivalents, end of period | $292.0M | $244.6M | $176.0M |
Legence Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.