Toppoint Holdings Inc. (NYSE American: TOPP) announced a revenue decline for the second quarter of 2025, reporting figures of $3.97 million, a decrease from $4.70 million in the same period last year. The decline is primarily attributed to reduced volumes in waste paper and imports, which offset gains seen in the metals and logs sectors.
In the second quarter, waste paper remained Toppoint’s largest revenue source, generating $2.08 million, accounting for 52.5% of total revenue. However, this figure represents a significant year-over-year decline of 23.2%. Notably, waste paper made up approximately two-thirds of the company’s loads in the first half of 2025.
CEO Hok C. Chan emphasized the importance of waste paper to the company’s operations, stating, “Waste paper remains a deep-rooted revenue stream of our company by both revenue and loads.” He also highlighted the ongoing focus on enhancing service reliability, reducing turn times, and optimizing lane density at ports, which are essential for supporting export growth while balancing imports and metals.
Imports contributed $1.23 million to the revenue in Q2, reflecting a 16.2% decline from the previous year. In contrast, metals revenue surged by 38% to $467,353, bolstered by robust year-to-date growth. Logs exhibited the highest growth rate among all categories, climbing 53.5% to reach $130,605, while plastics saw a nearly 40% drop, totaling $56,655.
CFO John Feliciano III stated that the company has maintained a “disciplined cost posture,” continuing to invest in equipment and technology to enhance operational efficiency in its primary commodities. He reassured stakeholders that the company’s financial standing remains strong, noting that the balance sheet “remains solid.”
In June 2025, Toppoint launched Topp Metals Inc., aimed at expanding its scrap metals logistics. This segment has steadily increased its share within the overall commodity mix, aligning with the overall growth strategy of the company.
Year-to-date revenue for Toppoint as of June totaled $7.78 million, down from $8.43 million during the same period last year. The total number of loads handled by Toppoint also declined, dropping to 10,836 from 11,517 in the previous year. Waste paper accounted for 63.8% of loads, followed by imports at 25.6% and metals at 7.5%.
With these developments, Toppoint Holdings Inc. continues to navigate a challenging market landscape while seeking growth avenues, particularly in the metals sector.
