I've written the note you can forward: `output/bridge-note.md`. Revenue didn't really go anywhere. FY2025 came in at **$11,238K** against **$11,243K** in FY2024, a change of **($5K)**, or **(0.04%)**. Underneath that flat total, two big lost accounts were almost exactly offset by growth and new business. The bridge balances to the cent.

| Step | Amount |
| --- | --- |
| FY2024 | $11,243K |
| Timing | $53K |
| Lost (4 customers) | ($1,288K) |
| Shrank (11 customers) | ($443K) |
| Grew (23 customers) | $1,211K |
| New (6 customers) | $463K |
| FY2025 | $11,238K |

- **Lost:** Fenwick Legal cost ($686K) and Birchway Foods cost ($503K). Those two make up most of the losses.
- **Shrank:** Driftwood Media fell ($113K) and Juniper Schools fell ($107K).
- **Grew:** Harbor Freight Partners added $148K and Ember Analytics added $136K.
- **New:** Thistle Gardens was the largest new account, adding $116K.

Four other customers billed the same in both years. The **Timing** row is revenue that billing puts down to renewal dates shifting, across 3 customers; it isn't a real change in what those customers buy.

The figures are rounded to $K one by one, so the rows don't add exactly to the total; the note says this too. The data doesn't show why Fenwick and Birchway left. Churn reasons or CRM notes would be needed to answer the VP's likely next question.

The exact figures behind the note are in `output/bridge.json`.