Toppoint Holdings Inc. announced financial results for the first quarter ended March 31, 2025, on May 15, 2025. Total revenue for Q1 2025 was $3.8 million, an increase from $3.7 million in the same period of 2024.
This growth was primarily driven by a 37.3% year-over-year increase in import volumes and improved revenue per load in both imports and logs. The company completed more than 5,480 loads, an increase from Q1 2024.
Gross profit increased to $498 thousand for Q1 2025, compared to $479 thousand in Q1 2024, with gross margin remaining consistent at 13%. However, selling, general and administrative expenses rose to $0.9 million from $0.3 million in the prior-year period, including a $150,000 legal settlement and $75,000 in relocation expenses.
Consequently, the company reported a net loss of $0.5 million for the quarter, compared to a net income of $0.1 million in Q1 2024. This change was primarily due to the increase in general and administrative expenses.
Post-IPO initiatives included deploying a modern fleet of adjustable chassis, expanding the import network with a new partnership expected to contribute over $1 million in incremental revenue, and launching a refrigerated logistics vertical. The company also initiated cross-border operations in Ensenada, Mexico, and expanded its partnership with Waste Management.
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