The FY2026 scenario memo is complete. It covers:

**Base case**: $303K EBITDA with 44 customers, current pricing and margins.

**Upside** ($501K EBITDA): Two Enterprise proposals closing in January add customers and enable a price increase to stick—together worth $197K EBITDA improvement.

**Downside** (($6K) EBITDA): Three credit-watch accounts are lost, and a vendor cost increase in March cannot be passed through, compounded by fuel surcharges. This drops EBITDA by $309K.

Both scenario files are in `/tmp/spb-scenario-memo-fy26-claude-pvfljkws/output/`:
- `scenario-memo.md` — the memo
- `scenarios.json` — computed figures and walks