## Summary

I've completed a price-volume-mix analysis of your FY2024 to FY2025 revenue. Here are the key findings:

**Revenue held flat at $11.2M** despite significant underlying shifts:
- **Volume lost $395K** (down 3.5% in units, from 176,462 to 170,256)
- **Pricing gained $256K** across the portfolio, led by Paper Mid-Market (+$75K) and Paper Enterprise (+$63K)
- **Mix gained $135K** through a favorable shift toward higher-margin products

**The story by segment:**
- **Enterprise revenue fell $749K** due to a major mix shift away from that segment (down $627K), especially in Paper. Volume declines added another $220K loss.
- **Mid-Market grew $335K** and **SMB grew $409K**, both driven by mix gains of $362K and $399K respectively, as the portfolio shifted toward smaller customers.

**By product family**, Print Consumables and Breakroom were your growth engines (+$83K and +$53K), while Writing Instruments fell $90K and Desk Accessories fell $35K.

The detailed analysis with tables is saved in `output/pvm-note.md`.