Filing Flows › Legence (LGN) › Q4 2025
Legence (LGN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
Legence (LGN) reported revenue of $738M for the fourth quarter 2025 (Q4 2025), +35% from a year earlier and +4% from the quarter before. Operating margin was -3.2%, net loss $54.7M (7.4% of revenue).
Legence, Q4 2025: revenue $738M (+35% year over year), operating margin -3.2%, net loss $54.7M, operating cash flow $94.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $738M | +4% | +35% |
| Operating profit | −$23.5M | -163% | — |
| Net earnings | −$54.7M | -14526% | — |
| Operating cash flow | $94.7M | -5% | 16× |
| Free cash flow | $81.5M | -8% | — |
What changed
Revenue was $737.6M in Q4 2025, up 35% year over year and up 4% from the previous quarter. Installation & Maintenance was the largest line at 77% of revenue.
Gross margin was 20.0%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $23.5M, an operating margin of -3.2%. Operating expenses grew 59% against revenue growth of 35%. The fastest-growing cost line was SG&A (+82%). The quarter ended with a net loss of $54.7M, after a profit of $379K the previous quarter. Minority interests bore $22.0M of it: to shareholders the quarter was a loss of $32.7M.
Operating cash flow was $94.7M (up 1469% year over year). Non-cash charges added back $24.7M of depreciation and amortization and $45.7M of share-based compensation. Working capital and other items added $79.0M. Capital expenditures of $13.2M left free cash flow of $81.5M.
Questions
What was Legence's revenue in the fourth quarter 2025?
Legence (LGN) reported revenue of $738M for the fourth quarter 2025 (Q4 2025), +35% from a year earlier and +4% from the quarter before.
Was Legence profitable in the fourth quarter 2025?
Operating loss was $23.5M (-3.2% of revenue) and net loss $54.7M.
Source: Legence 10-K on SEC EDGAR.