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 |

- **Price:** Pricing added $256K. Paper led with $167K, and Paper Mid-Market ($75K) and Paper Enterprise ($63K) were the largest single contributors. Writing Instruments and Desk Accessories moved the other way, with price effects of ($36K) and ($44K).
- **Volume:** Volume cost ($395K). Units fell from 176,462 to 170,256, which is (3.5%).
- **Mix:** Mix added $135K, and the product mix did shift, mostly between customer segments rather than product families. Enterprise lost ($627K) of mix, while SMB added $399K and Mid-Market added $362K. Paper Enterprise alone lost ($300K).
- **Open question:** Print Consumables Enterprise added $63K of price but lost ($79K) of volume. The data doesn't show why. Discount and contract records would answer it.

The rounded bridge rows don't add exactly to FY2025 because each figure is rounded on its own. The note records this. It also records the source as `products_fy24_fy25.csv`, 18 rows, sha256 `5ced03ec721c`.

Files are in `output/`:
- `pvm-note.md`
- `pvm.json`