NORTH WALES, PA — Toppoint Holdings Inc. (NYSE American: TOPP) reported second-quarter 2025 revenue of $3.97 million, down from $4.70 million a year earlier, as declines in waste paper and import volumes offset gains in metals and logs.
Waste paper remained the company’s largest revenue stream, generating $2.08 million in the quarter — 52.5% of total revenue — but fell 23.2% year-over-year. On a volume basis, the category accounted for about two-thirds of loads in the first half of 2025.
“Waste paper remains a deep-rooted revenue stream of our company by both revenue and loads,” said CEO Hok C. Chan. “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 Q2, down 16.2% from the prior year, while metals climbed 38% to $467,353, supported by strong year-to-date growth. Logs posted the fastest growth rate, up 53.5% to $130,605. Plastics declined nearly 40% to $56,655.
CFO John Feliciano III said the company maintained a “disciplined cost posture” and continues to invest in equipment and technology to strengthen execution in its core commodities. The balance sheet, he added, “remains solid.”
In June, Toppoint launched Topp Metals Inc. to expand scrap metals logistics, a segment that has been steadily increasing its share of the company’s commodity mix.
Year-to-date revenue totaled $7.78 million, down from $8.43 million in the same period last year, with total loads slipping to 10,836 from 11,517. Waste paper accounted for 63.8% of loads, followed by imports at 25.6% and metals at 7.5%.
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