Financial Data and Key Metrics Changes - Total revenue for 2025 increased by 24.7% to $646.8 million from $518.8 million, primarily driven by acquisitions and organic growth [30][31] - Adjusted EBITDA for the year rose by 28.4% to $81.8 million, with an adjusted EBITDA margin of 12.6% [35] - Net income increased by 26.5% to $39.1 million, with diluted earnings per share growing by 25.7% to $3.23 [34] Business Line Data and Key Metrics Changes - ODR revenue grew by 40.6% to $485.7 million, with organic revenue growth of 17% [30][31] - GCR revenue decreased by 7% to $161.1 million, with organic revenue contributing to a decline of $39.9 million [30][31] - ODR accounted for 75% of total revenue in 2025, up from 67% in 2024 [8] Market Data and Key Metrics Changes - The healthcare vertical saw a rebound in spending, contributing to a 24% organic revenue growth in Q4 [17] - Data center revenue represented less than 5% of total revenue in 2025, with expectations for significant growth in 2026 [20][21] - Industrial manufacturing vertical produced steady results, less affected by policy concerns [21] Company Strategy and Development Direction - The company is focused on three strategic growth pillars: ODR and organic revenue growth, margin expansion through evolved customer solutions, and strategic M&A [10][14] - Plans to pursue one to three acquisitions in 2026 to enhance capabilities and market presence [14] - The relocation of headquarters to Tampa, Florida, aims to strengthen the company's presence and operational efficiency [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about demand recovery across verticals, particularly in healthcare and data centers [17][20] - The company anticipates a softer start to 2026 but expects revenue growth to accelerate in the second half of the year [22][24] - Guidance for 2026 includes revenue expectations of $730 million to $760 million, reflecting year-over-year growth of 13% to 17% [22] Other Important Information - The company authorized a $50 million share repurchase program [9] - Cash from operations for 2025 was $71.9 million, with a strong balance sheet showing only $24.6 million in net debt [9][36] Q&A Session Summary Question: Can you talk about the investment or specific steps you're taking to take advantage of the data center opportunity? - Management highlighted the establishment of national vertical market teams to enhance focus on data centers and leverage existing relationships [40][41] Question: What is the long-term organic growth expectation for the ODR segment? - Management indicated a normalized growth rate of 17% to 20% for the ODR segment once Pioneer Power is fully integrated [52][54] Question: How does the company plan to integrate Pioneer Power and improve margins? - Management discussed the completion of phase one integration and the focus on customer engagement to drive margin improvements in phase two [86][88]

CRITICAL SYSTEMS, AHEAD OF THE MOMENT INVESTOR PRESENTATION 2025 Q4/FULL YEAR RESULTS NASDAQ: LMB 1 WE MAKE FORWARD-LOOKING STATEMENTS IN THIS PRESENTATION WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE FORWARD-LOOKING STATEMENTS RELATE TO EXPECTATIONS OR FORECASTS FOR FUTURE EVENTS, INCLUDING, WITHOUT LIMITATION, THE EXECUTION OF THE COMPANY'S LONG-TERM STRATEGIC ROADMAP. THESE STATEMENTS MAY BE PRECEDED BY, FOLLOWED BY OR INCLUDE THE WORDS "MAY," "MIGHT," "WILL," "WILL L ...

Company Overview - Limbach specializes in revitalizing and maintaining mission-critical systems in existing facilities [5] - The company has approximately 1,400 team members and operates across 20 branch locations [11, 13] - Limbach focuses on six distinct vertical markets to diversify revenue streams [18] Financial Performance and Strategy - From FY 2019 to FY 2024, Limbach expanded its gross margin by nearly 1,480 bps to 27.8%, driving Adjusted EBITDA Margin more than 4x from 3.0% to 12.3% [33] - The company targets a shift in revenue mix to approximately 80% ODR (Owner Direct Relationships) and approximately 20% GCR (General Contractor Relationships) [32] - Limbach projects total revenue between $610 million and $630 million for 2025, with ODR revenue growth between 23% and 46% [62] - The company anticipates an Adjusted EBITDA between $78 million and $82 million in 2025, resulting in an Adjusted EBITDA Margin between 12.5% and 13.5% [62] Acquisitions and Expansion - Consolidated Mechanical is expected to contribute approximately $23 million in annualized revenue and $4 million in EBITDA beginning in 2025 [53] - Kent Island Mechanical is expected to contribute on average $30 million in revenue and $4 million in EBITDA on a full year basis [59] Q1 2025 Performance - Limbach reported revenue of $133.1 million in Q1 2025, an increase of 11.9% year-over-year [69] - Gross profit for Q1 2025 was $36.7 million, with a gross margin of 27.6% [69] - Adjusted EBITDA for Q1 2025 was $14.9 million, compared to $11.8 million in Q1 2024 [70]