I wrote the December 2025 scorecard to `scorecard_2025-12.md`. The three KPIs that come from the P&L tie out exactly. The other five can't be tied to it, because they depend on balance sheet and operations data I wasn't given.

| KPI | Actual | Target | Status |
|---|---|---|---|
| Revenue | $826,750.62 | $823,600.00 | On target |
| Gross margin % | 26.06% | 26.00% | On target |
| Opex % of revenue | 25.11% | 25.25% | On target |
| Order fill rate % | 97.60% | 97.00% | On target |
| DSO (days) | 51.2 | 45.0 | Miss |
| On-time delivery % | 93.30% | 95.00% | Miss |
| Active customers | 40 | 42 | Miss |
| Inventory turns | 5.33 | 6.50 | Miss |

**Tie-out:**
- **Revenue:** December actual and budget match `pnl_fy2025.csv` exactly.
- **Gross margin and opex %:** I recomputed both from the P&L and they match the KPI file. Revenue, gross margin and opex % also tie for all 12 months.
- **Not tied out:** DSO, on-time delivery, fill rate, active customers and inventory turns.

**Points for the commentary:**
- **Opex:** The ratio only met target because Marketing and Technology underspent by about $7k combined. Other operating was $5.9k (60%) over budget.
- **DSO:** It has risen every month since September, from 44.9 to 51.2.
- **On-time delivery:** It has missed target for three months in a row.
- **Inventory:** The December turns imply inventory of about $1.42M, up about 17% from November. I derived that from COGS, not from a balance sheet, so check it against account 1200.