Toppoint Holdings Sees 77% Scrap Metal Revenue Gain, 36% Import Growth
Toppoint Holdings reported 2025 revenue rose 3.2% to $16.55 million, led by import freight growth of 36% to $4.84 million and scrap metal revenue up 77% to $2.04 million. SG&A surged 226% to $7.88 million, contributing to a $7.34 million net loss, while cash more than doubled to $1.20 million.
1. Financial Results
Toppoint Holdings achieved revenue of $16.55 million in 2025, a 3.2% increase from $16.04 million a year earlier. Gross profit declined to $497,725 from $1.77 million, yielding a gross margin of 3.0% compared to 11.0% in 2024, reflecting higher costs and operating investments.
2. Segment Performance
Import freight revenue surged 36.0% to $4.84 million on a 54.7% rise in loads to 6,275, while scrap metal revenue jumped 77.4% to $2.04 million with a 94.1% increase in loads to 2,413. Waste paper revenue fell 14.5% to $9.15 million as export markets remained soft.
3. Expenses and Profitability
Selling, general and administrative expenses soared 226.2% to $7.88 million, driven by public company costs, stock-based compensation and expanded personnel. The company recorded a net loss of $7.34 million in 2025 versus net income of $174,871 in 2024, reflecting its strategic investments.
4. Balance Sheet and Expansion
Cash balances rose 115.6% to $1.20 million, total assets climbed 120.5% to $10.99 million, and shareholders’ equity increased 239.2% to $8.62 million. The company expanded its domestic and international footprint, advancing operations in Ensenada and Texas and modernizing its fleet and chassis.