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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 230,166 $ 81,167
Accounts receivable, net 584,060 448,610
Contract assets, net 259,941 188,132
Prepaid expenses and other current assets 36,179 38,506
Total current assets 1,110,346 756,415
Property and equipment, net 92,333 73,381
Operating lease right-of-use assets (including $20,025 and $23,375 as of December 31, 2025 and 2024, respectively, from related parties) 117,139 90,922
Goodwill 764,336 781,194
Intangible assets, net 551,420 624,250
Other assets 43,822 26,338
Total assets [1] 2,679,396 2,352,500
Current liabilities:    
Accounts payable 246,161 126,502
Accrued compensation and benefits 68,064 54,601
Accrued and other current liabilities 16,475 28,490
Contract liabilities 339,462 164,130
Current portion of operating lease liabilities (including $3,920 and $3,654 as of December 31, 2025 and 2024, respectively, from related parties) 21,300 14,402
Current portion of long-term debt 16,694 22,984
Total current liabilities 708,156 411,109
Long-term debt, net of current portion (including $84,735 and $211,039 as of December 31, 2025 and 2024, respectively, from related parties) 812,398 1,585,846
Operating lease liabilities, net of current portion (including $17,282 and $20,960 as of December 31, 2025 and 2024, respectively, from related parties) 103,762 80,669
Tax receivable agreement liability - related party 207,448 0
Deferred tax liabilities, net 46,714 35,428
Other long-term liabilities 12,123 35,856
Total liabilities [1] 1,890,601 2,148,908
Commitments and contingencies (Note 21)
Stockholders' equity / Member's equity    
Member's equity   443,738
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 0  
Additional paid-in capital 701,791  
Accumulated deficit (309,949) (250,169)
Accumulated other comprehensive (loss) income (698) 9,111
Total Legence stockholders' equity / Member's equity 392,197  
Noncontrolling interests 396,598  
Total stockholders' equity / Member's equity 788,795  
Total Legence stockholders' equity / Member's equity   202,680
Noncontrolling interests   912
Total stockholders' equity / Member's equity   203,592
Total liabilities and stockholders' equity / Member's equity 2,679,396 $ 2,352,500
Common Class A    
Stockholders' equity / Member's equity    
Common stock 638  
Common Class B    
Stockholders' equity / Member's equity    
Common stock $ 415  
[1] As of December 31, 2025, total assets include $21.8 million and total liabilities include $9.4 million for consolidated variable interest entities. Substantially all of the remaining total assets and total liabilities, excluding the TRA liability and the related deferred tax assets included in Other assets, are attributable to the consolidated Legence Holdings variable interest entity. As of December 31, 2024, total assets include $40.1 million and total liabilities include $5.9 million for consolidated variable interest entities. Assets of the variable interest entities can only be used to settle the liabilities of those entities. Refer to “Note 6—Variable Interest Entities and Equity Method Investments” for additional information.