Toppoint Holdings Inc., a truckload services and logistics provider focused on the recycling export supply chain, announced financial results for the second quarter ended June 30, 2025.
Second quarter 2025 highlights
- Revenue: $3.97 million (Q2’25) vs. $4.70 million (Q2’24).
- Commodity momentum: metals grew strongly year-over-year; imports remained a core contributor with year-to-date growth.
“Waste paper remains a deep rooted revenue stream of our company by both revenue and loads,” said Hok C. Chan, chief executive officer. “In Q2, paper contributed more than half of total revenue and roughly two thirds of loads. We continue to prioritize service reliability, turn times and lane density of the ports.”
“Imports and metals continued to build share and add revenue throughout the route. We maintained a disciplined cost posture,” added John Feliciano III, chief financial officer. “The balance sheet remains solid and we are investing in equipment and technology.”
Waste paper focus
Paper revenue was $2,082,560 in Q2’25 (-23.2 percent YoY) and $4,670,575 year to date (-14.4 percent YoY). Paper represented 52.5 percent of Q2 revenue and 60.0 percent year to date. On a volume basis, waste paper accounted for approximately 6,915 loads in the first half of 2025, or 63.8 percent of total loads.
Commodity detail (Q2 and year-to-date)
- Paper: $2,082,560 in Q2’25 (-23.2 percent YoY), mix 52.5 percent – $4,670,575 YTD (-14.4 percent YoY), mix 60.0 percent.
- Import: $1,231,751 in Q2’25 (-16.2 percent YoY), mix 31.0 percent – $2,102,465 YTD (+1.0 percent YoY), mix 27.0 percent.
- Metal: $467,353 in Q2’25 (+38.0 percent YoY), mix 11.8 percent – $680,996 YTD (+23.8 percent YoY), mix 8.8 percent.
- Log: $130,605 in Q2’25 (+53.5 percent YoY), mix 3.3 percent – $214,053 YTD (+32.7 percent YoY), mix 2.8 percent.
- Plastic: $56,655 in Q2’25 (-39.6 percent YoY), mix 1.4 percent – $112,445 YTD (-37.1 percent YoY), mix 1.4 percent.
Mix & volume metrics (year-to-date)
Loads: 10,836 in the first half of 2025 vs. 11,517 in same period in 2024. Mix by category (YTD25): Waste paper 63.8 percent, Import 25.6 percent, Metal 7.5 percent, Plastic 1.3 percent, Forestry 1.8 percent.
Strategic & operational updates
- Metals platform: Topp Metals Inc. established on June 4, 2025 to support growth opportunities in scrap metals logistics.
- Equipment & technology: Continued investments to enhance fleet capacity and operational systems to serve core commodities.
Second Quarter & Year-to-Date Results
Q2 revenue was $3.97 million; the year-over-year comparison reflects normalization from 2024’s atypical Q2 environment. Year-to-date revenue was $7.78 million vs. $8.43 million in the prior year.
Published November 2025
