Toppoint Holdings (TOPP) investor relations material

Executive summary

• Q2 2025 revenue was $3.97M, down 16% year-over-year, mainly due to lower production and normalization after a strong prior year impacted by external events.

• Net loss for Q2 2025 was $1.53M, compared to net income of $144K in Q2 2024, driven by higher general and administrative expenses, including $985K in stock-based compensation.

• The company completed its IPO in January 2025, raising $10M in gross proceeds and listing on NYSE American.

• Expanded operations with new partnerships, service offerings, and entry into new markets, including import drayage, Latin America, and refrigerated logistics.

• Waste paper remained the largest revenue and volume driver, contributing over half of Q2 revenue and about two-thirds of loads.

Financial highlights

• Six-month 2025 revenue was $7.78M, down 8% year-over-year; net loss was $2.06M versus net income of $255K in the prior year.

• Q2 2025 gross profit was $455K (11% margin), down from $853K (18% margin) in Q2 2024.

• General and administrative expenses rose 216% year-over-year in Q2 2025, mainly due to IPO-related costs and stock-based compensation.

• Cash at June 30, 2025 was $1.49M, up from $558K at year-end 2024, supported by IPO proceeds.

• Waste paper revenue in Q2: $2.08M (-23.2% YoY); imports: $1.23M (-16.2% YoY); metals: $0.47M (+38.0% YoY).

Outlook and guidance

• Management expects current cash and operating cash flows to fund operations for at least the next 12 months but may seek additional financing if business conditions change.

• Focus remains on profitable revenue growth through strategic fleet investments, targeted lane expansions, and service enhancements.

• Continued investment in fleet and technology to support growth in core commodities.