FY2025 revenue was flat on FY2024 at $11.2M, a change of ($5K) or (0.04%). Price and mix almost exactly offset the volume loss. The script reconciled PY + Volume + Mix + Price = CY to the cent.

| Step | Amount |
| --- | --- |
| FY2024 | $11.2M |
| Volume | ($395K) |
| Mix | $135K |
| Price | $256K |
| FY2025 | $11.2M |

- **Price:** Paper drove it, adding $167K. Paper Mid-Market contributed $75K and Paper Enterprise $63K. Print Consumables added $125K.
- **Volume:** Units fell (3.5%), from 176,462 to 170,256, and every family lost volume. Print Consumables was the largest at ($128K), then Paper at ($101K).
- **Mix:** Revenue shifted away from Enterprise, where mix fell ($627K). Paper Enterprise alone lost ($300K). Mid-Market gained $362K and SMB gained $399K.
- **Price losses:** Writing Instruments fell ($36K) and Desk Accessories fell ($44K) on price. The data doesn't show why. Discount and contract records would answer it.

The note also has a by-family table and a data line. The source was `products_fy24_fy25.csv`, 18 rows.

Files are in `output/`:
- `pvm.json`
- `pvm-note.md`