FY2026 EBITDA fell from $452K in Prior to $303K in Current, a change of ($149K), or (32.9%). The script's check passed: the six driver deltas sum exactly to that change.

**Walk, in the model's fixed order**

| Step | Amount |
| --- | --- |
| Prior EBITDA | $452K |
| Active customers | ($133K) |
| Revenue per customer | $0 |
| Gross margin | $39K |
| Headcount | ($54K) |
| Cost per head | $0 |
| Other opex | $0 |
| Current EBITDA | $303K |

- **Active customers:** this carries the move. The forecast drops from 46 to 44 customers in all 12 months, which takes revenue from $11.7M to $11.2M, a change of ($509K).
- **Gross margin:** this partly offsets, adding $39K as margin rises from 26.2% to 26.6% in all 12 months.
- **Headcount:** this adds cost of ($54K), as headcount goes from 23.00 to 23.75 FTE in 9 months.
- **Unchanged drivers:** Revenue per customer, Cost per head and Other opex did not change.

The data shows how much each driver moved EBITDA, not why. The note therefore asks each of the three driver owners which documented assumption supports the change, and gives no causes of its own. The walk order is fixed, so these deltas are not each driver's share of the change.

The note is at `output/drivers-note.md` and the script's figures are at `output/drivers.json`. The data line cites `drivers_fy2026.csv`, 144 rows.