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FY2025
12 months to Dec 31, 2025
|
|
|---|---|
| Cash flows from operating activities: | |
| Net loss | |
| Adjustments to reconcile net loss to cash provided by operating activities: | |
| Amortization of intangible assets | |
| Depreciation of property and equipment | |
| Goodwill impairment | |
| Long-lived asset impairment | |
| Amortization of debt issuance costs and discounts | |
| Loss on debt extinguishment | |
| Stock-based compensation | |
| Changes in fair value of contingent consideration liabilities (including $13,424 for the year ended December 31, 2023 from related parties) | |
| Deferred taxes | |
| Tax receivable agreement liability remeasurement | |
| Equity in earnings of joint venture | |
| Return on investment in joint venture | |
| Operating lease right-of-use asset lease expense | |
| Other | |
| Changes in operating assets and liabilities: | |
| Accounts receivable, net | |
| Contract assets | |
| Prepaid expenses and other current assets | |
| Accounts payable | |
| Accrued compensation and benefits | |
| Accrued and other current liabilities | |
| Contract liabilities | |
| Operating lease liabilities, current and long-term | |
| Other long-term assets and liabilities | |
| Cash provided by operating activities | |
| Cash flows from investing activities: | |
| Purchases of property and equipment | |
| Consideration paid for acquisitions, net of cash acquired | |
| Proceeds from sale of property and equipment | |
| Return of investment in joint venture | |
| Cash used in investing activities | |
| Cash flows from financing activities: | |
| 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) | |
| Related Party | |
| Total 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) | |
| Term loan payments (including $74,797 in 2025 to related parties) | |
| Related Party | |
| Total term loan payments (including $74,797 in 2025 to related parties) | |
| Notes payable payments | |
| Finance lease payments | |
| Cash distributions to Legence Parent | |
| Cash contributions from Legence Parent | |
| Proceeds from IPO, net of underwriting discounts and commissions | |
| Debt issuance costs | |
| Payments for deferred offering costs | |
| Payments of contingent consideration (including ($20,663) and $(5,520) for the years ended December 31, 2024 and 2023, respectively, from related parties) | |
| Cash (used in) provided by financing activities | |
| Increase (decrease) in cash and cash equivalents | |
| Cash and cash equivalents and restricted cash, beginning of period | |
| Cash and cash equivalents, end of period |
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