Toppoint Holdings Inc. (NYSE American: TOPP) has announced a decline in revenue for the second quarter of 2025, reporting figures of $3.97 million, down from $4.70 million in the same quarter last year. This decrease is attributed to a significant drop in waste paper and import volumes, which overshadowed the growth seen in metals and logs.
In the latest quarter, waste paper continued to be Toppoint’s largest revenue source, generating $2.08 million, which accounted for 52.5% of total revenue. However, this figure represents a 23.2% decrease compared to the previous year. In volume terms, waste paper constituted approximately two-thirds of the company’s loads during the first half of 2025.
CEO Hok C. Chan emphasized the importance of waste paper for the company, stating, “Waste paper remains a deep-rooted revenue stream of our company by both revenue and loads. We continue to prioritize service reliability, turn times, and lane density of the ports to enable growth of our export customers while we scale imports and metals.”
Imports contributed $1.23 million in revenue for the quarter, reflecting a decline of 16.2% from the prior year. In contrast, revenues from metals experienced a substantial increase of 38%, reaching $467,353, supported by strong growth trends observed year-to-date. Logs demonstrated the highest growth rate among categories, increasing 53.5% to $130,605, while plastics suffered a nearly 40% decline, totaling $56,655.
Chief Financial Officer John Feliciano III noted that the company has maintained a “disciplined cost posture” and continues to invest in equipment and technology to enhance execution across its core commodities. He assured stakeholders that the balance sheet “remains solid.”
In June 2025, Toppoint launched Topp Metals Inc. aimed at expanding its capabilities within the scrap metals logistics sector, an area that has been increasingly contributing to the company’s commodity mix. Year-to-date revenue stood at $7.78 million, a decrease from $8.43 million during the same period last year. Total loads also fell, from 11,517 in the previous year to 10,836 in 2025. Waste paper represented 63.8% of loads, followed by imports at 25.6% and metals at 7.5%.
The latest financial results reflect a challenging environment for Toppoint Holdings, where the company is striving to balance its traditional revenue streams against the backdrop of shifting market dynamics.
