Done. I've written the price-volume-mix analysis to `output/pvm-note.md`.

Here's the summary: **Revenue was flat at $11.2M** despite a 3.5% unit volume decline, because price increases ($256K) and a favorable product mix shift ($135K) nearly offset the ($395K) volume loss.

The story has three parts:

1. **Pricing worked.** Paper and Print Consumables led with strong price gains, adding $75K and $63K respectively in Mid-Market and Enterprise.

2. **Volume fell across the board.** Enterprise and Print Consumables took the biggest hits—Print Consumables Enterprise alone lost $79K in volume.

3. **The portfolio shifted down-market.** Enterprise revenue fell $749K while Mid-Market gained $335K and SMB gained $409K. This mix shift added $135K overall, though it couldn't fully offset Enterprise's decline.

The note reconciles to the cent and is ready for your review.