Done. Here's your price-volume-mix breakdown:

**The headline:** FY2025 revenue stayed flat at $11,238K, down just ($5K) from FY2024's $11,243K. Pricing added $256K and a shift toward smaller segments added $135K, but those gains were offset by a $395K volume decline.

**Where it came from:**
- **Price increases** of $256K were the largest positive driver, led by Paper (Mid-Market +$75K, Enterprise +$63K) and Print Consumables (Enterprise +$63K)
- **Volume drops** of $395K hit hardest in Print Consumables Enterprise ($79K loss) and Paper Enterprise ($53K loss)  
- **Mix shift** of +$135K reflects a major movement away from Enterprise (down $749K) toward Mid-Market (+$335K) and SMB (+$409K)

The story isn't revenue growth—it's segment realignment. Enterprise customers are contracting, and while pricing helped offset the damage, you lost more volume than you recovered from rate increases. Print Consumables and Breakroom managed growth despite the headwinds, but Paper and Writing Instruments declined outright.

Analysis written to `output/pvm-note.md`.