FY2025 revenue was $11,238K against $11,243K in FY2024, a change of ($5K), or (0.04%). Price and mix almost exactly offset the volume decline. The script reconciled to the cent.

| Step | Amount |
| --- | --- |
| FY2024 | $11,243K |
| Volume | ($395K) |
| Mix | $135K |
| Price | $256K |
| FY2025 | $11,238K |

Rounded figures don't add exactly, because each amount is rounded on its own.

- **Segment mix:** Enterprise lost ($627K) of mix and ($220K) of volume, and price added only $98K there. SMB added $399K of mix and Mid-Market added $362K. Paper Enterprise alone cost ($300K) of mix.
- **Price:** Paper added $167K, the most of any family. Paper Mid-Market contributed $75K and Paper Enterprise $63K.
- **Price losses:** Writing Instruments (($36K)) and Desk Accessories (($44K)) lost price. The data doesn't show why. Discount or contract records would answer it.

The full note, with the by-family table, is in `output/pvm-note.md`, and the script's figures are in `output/pvm.json`. The input was `products_fy24_fy25.csv`, 18 rows, sha256 `5ced03ec721c`.