I built the FY2025 bridge and wrote the commentary note. Revenue was flat: FY2025 came in at $11.2M against $11.2M in FY2024, a change of ($5K), or (0.04%). The script confirmed that the bridge adds up to FY2025 revenue to the cent.

| Step | Amount |
| --- | --- |
| FY2024 | $11.2M |
| Timing | $53K |
| Loss | ($1.3M) |
| Decline | ($443K) |
| Upsell | $1.2M |
| New | $463K |
| FY2025 | $11.2M |

- **Losses:** 4 customers left. Fenwick Legal (($686K)) and Birchway Foods (($503K)) are the two largest. The data doesn't show why they left, and the note says so.
- **Upsell:** 23 customers added $1.2M, which roughly offset the losses. Harbor Freight Partners ($148K) and Ember Analytics ($136K) led.
- **New customers:** 6 added $463K.

The note is in `output/bridge-note.md` and the script's figures are in `output/bridge.json`.