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Toppoint Holdings Inc.
TOPPCIK 0001960847NYSEEmerging GrowthTrucking & Courier Services (No Air)NevadaFY ends Dec 31
Period
FY 2025
Revenue
$16.55M
Net Income
$-7.34M
Total Assets
$11.00M
Equity
$8.62M
Shares Out
19.70M
Op. Cash Flow
$-1.78M
Business
Toppoint Holdings Inc. is a truckload services and solutions provider focused on the recycling export supply chain. It transports waste paper, scrap metal and wood logs and provides import drayage, logistics brokerage, refrigerated container handling and integrated services covering loading, transport, port drayage and unloading. Its business is organized into four verticals: waste paper products, waste metal and forestry, import services and other brokerage/commodity services. Toppoint serves large waste companies, recycling centers and commodity traders, delivering primarily to ports in New Jersey and Pennsylvania and through operations in Florida, Maryland, Mexico and other major U.S. ports.
Summary from filing dated 2025-04-15
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Total revenue | 17 | 16 | 18 | |
| Costs of revenue | 15 | 12 | — | |
| Costs of revenue related parties | 1 | 2 | — | |
| General and administrative expenses | 8 | 2 | 2 | |
| Total cost and expenses | 24 | 17 | 17 | |
| Loss from operations | −7 | −645,751 | 774,316 | |
| Interest expense | −363,499 | −139,657 | −10,261 | |
| Interest income | 381,292 | — | — | |
| Loss on disposal | — | −11,498 | — | |
| Other income | — | 862,357 | — | |
| Total other income, net | 17,793 | 711,202 | 145,966 | |
| (Loss) income before income taxes | −7 | 65,451 | 920,282 | |
| Current | 171,949 | 85,688 | 405,544 | |
| Deferred | −187,108 | −195,108 | −27,613 | |
| Income tax provision (benefit) | −15,159 | −109,420 | 377,931 | |
| Net (loss) income | −7 | 174,871 | 542,351 | |
| Basic net (loss) income per share attributed to common stockholders (in Dollars per share) | −0.41 | 0.01 | 0.04 | |
| Diluted net (loss) income per share attributed to common stockholders (in Dollars per share) | −0.41 | 0.01 | 0.04 | |
| Weighted Average Number of Shares Outstanding - Basic (in Shares) | 18 | 15 | 15 | |
| Weighted Average Number of Shares Outstanding - Diluted (in Shares) | 18 | 15 | 15 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash | 1 | 557,619 | 1 | — | |
| Accounts receivable, net | 1 | 1 | 940,622 | — | |
| Contract assets | 178,392 | 88,153 | 230,610 | — | |
| Deferred offering costs | — | 398,512 | 205,870 | — | |
| Prepaid expensesrelated party | 75,000 | — | 750 | — | |
| Loan receivable, current | 2 | — | — | — | |
| Interest receivable from loan receivable | 365,779 | — | — | — | |
| Total Current Assets | 5 | 2 | 3 | — | |
| Property and Equipment, net | 1 | 1 | 96,073 | — | |
| Deposit on property and equipment related party | 500,000 | — | — | — | |
| Intangible asset, net | 470,525 | 739,396 | 798,614 | — | |
| Loan receivable, non-current | 3 | — | — | — | |
| Right-of-use asset, net | 458,614 | 675,561 | 843,699 | — | |
| Right-of-use asset, net related parties | 74,559 | 82,098 | — | — | |
| Security deposit | 61,000 | 50,000 | — | — | |
| Total Assets | 11 | 5 | 5 | — | |
| Accounts payable and accrued expenses | 886,243 | 402,552 | 335,596 | — | |
| Deferred revenue | 23,091 | — | 862,841 | — | |
| Income taxes payable | — | 142,093 | 296,405 | — | |
| Loans payable, current maturities | 383,827 | 3,147 | 3,147 | — | |
| Lease liability, current maturities | 174,344 | 130,552 | 99,959 | — | |
| Lease liability, current maturities related parties | 63,586 | — | — | — | |
| Total Current Liabilities | 2 | 2 | 2 | — | |
| Loans payable, net of current maturities | 608,178 | 146,753 | 146,753 | — | |
| Lease liability, net of current maturities | 144,954 | 331,833 | 462,387 | — | |
| Lease liability, net of current maturities related parties | 5,473 | — | — | — | |
| Deferred tax liability | — | 187,108 | 382,216 | — | |
| Total Liabilities | 2 | 2 | 3 | — | |
| Commitment and contingencies | — | — | — | — | |
| Preferred stock, $0.0001 par value, 50,000,000 authorized, 0 shares issued and outstanding at December 31, 2025 and 2024, respectively | — | — | — | — | |
| Common stock, $0.0001 par value, 300,000,000 shares authorized, 19,700,000 and 15,000,000 shares issued and outstanding at December 31, 2025 and 2024, respectively | 1,970 | 1,500 | 1,500 | — | |
| Additional paid-in capital | 14 | 139,750 | 139,750 | — | |
| (Accumulated Deficit) Retained earnings | −5 | 2 | 2 | — | |
| Total Shareholders Equity | 9 | 3 | 2 | 2 | |
| Total Liabilities and Shareholders Equity | 11 | 5 | 5 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Amortization of right-of-use assets | 349,203 | 263,118 | 452,669 | |
| Bad debt expense | — | 123,371 | — | |
| Deferred compensation | — | 207,016 | — | |
| Depreciation | 339,886 | 96,984 | 54,900 | |
| Amortization of intangible assets | 268,871 | 67,218 | — | |
| Amortization of debt issuing cost | 4,167 | — | — | |
| Stock-based compensation | 5 | — | — | |
| Accounts receivable | −199,420 | −385,750 | 559,746 | |
| Contract assets | −90,239 | 142,457 | 86,885 | |
| Prepaid expenses | — | 750 | — | |
| Prepaid expense-related party | −75,000 | — | — | |
| Interest receivable from loan receivable | −365,779 | — | — | |
| Security deposit | −11,000 | −50,000 | — | |
| Accounts payable and accrued expenses | 483,689 | 66,955 | 261,399 | |
| Income taxes payable | −142,093 | −154,312 | −85,426 | |
| Deferred revenue | 23,091 | −862,841 | — | |
| Lease liability | −143,087 | −99,961 | −270,266 | |
| Lease liability related party | −55,657 | — | — | |
| Net cash used for operating activities | −2 | −593,734 | 2 | |
| Payment of loan receivable | −6 | — | — | |
| Repayment from loan receivable | 1 | — | — | |
| Purchase of intangible assets | — | −8,000 | −798,614 | |
| Deposit on property and equipment related party | −500,000 | — | — | |
| Purchases of property and equipment | −355,370 | −1 | −85,596 | |
| Net cash used in investing activities | −6 | −1 | −1 | |
| Deferred offering costs | — | −192,642 | −205,870 | |
| Proceeds from loan payable | 996,464 | — | — | |
| Proceeds from loan payable-related party | — | 1 | — | |
| Repayments of loan payable | −108,526 | — | — | |
| Repayments of loan payable-related party | −1 | — | — | |
| Debt issuance costs paid | −50,000 | — | — | |
| Issuance of common stock, net of issuance cost | 8 | — | — | |
| Net cash provided by financing activities | 8 | 907,358 | −205,870 | |
| Net increase (decrease) in cash | 644,776 | −898,357 | — | |
| Interest | 39,230 | 5,848 | 20,406 | |
| Income taxes | 314,042 | 240,000 | — |
Filings
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