=== Report 1: Merchant refund-rate spike check, Q3 2025 vs H1 2025 baseline (written by Omar) === Engineer's note: Vertical is taken from tenants.industry (closest match to "vertical" in the catalog). Order count is the count of orders with placed_at in Q3 2025, used both as the >=10 filter and the reported column; merchants with zero Q3 captured-payment volume show a null refund rate/change rather than divide-by-zero. REPORT: Merchant refund-rate spike check, Q3 2025 vs H1 2025 baseline QUESTION: Does the refund spike Finance flagged for Q3 2025 (naming OfficeHub Nordic and Sports & Outdoor sellers) hold up at the merchant level, and is it the same story as Q4? merchant_name | vertical | refund_rate_q3_pct | refund_rate_h1_baseline_pct | change_vs_baseline_pp | refund_amount_q3_eur | order_count_q3 ------------------------------+---------------------------+--------------------+-----------------------------+-----------------------+----------------------+--------------- OfficeHub Nordic | Office Supplies (B2B) | 20.98 | 2.99 | 17.99 | 23267.74 | 45 Saffron & Sage | Beauty | 9.62 | 0.0 | 9.62 | 183.14 | 25 Nordic Bloom Cosmetics | Beauty | 12.2 | 4.59 | 7.61 | 591.12 | 38 Petalcourt Beauty | Beauty | 11.63 | 4.03 | 7.6 | 1754.09 | 164 Kayak Corner | Sports & Outdoor | 14.12 | 8.78 | 5.34 | 828.54 | 24 Feather & Fin | Pet Supplies | 3.95 | 0.56 | 3.39 | 104.85 | 51 Honeycomb Larder | Food & Coffee | 4.2 | 0.93 | 3.27 | 231.58 | 149 Kibblewick | Pet Supplies | 2.0 | 0.69 | 1.31 | 153.25 | 166 Juniper Apothecary | Beauty | 7.53 | 6.49 | 1.04 | 242.06 | 31 Fennel & Flint | Home & Living | 7.85 | 7.24 | 0.61 | 910.97 | 75 Tail Wag Supply | Pet Supplies | 2.34 | 2.39 | -0.05 | 32.83 | 23 Castell Fasteners | Industrial Supplies (B2B) | 0.0 | 0.34 | -0.34 | 0.0 | 37 Deskline Supplies | Office Supplies (B2B) | 0.0 | 0.46 | -0.46 | 0.0 | 18 Oakhurst Tailoring | Apparel & Footwear | 13.06 | 14.01 | -0.95 | 518.28 | 37 The Balm Room | Beauty | 4.5 | 5.53 | -1.03 | 154.76 | 23 Grind Collective | Food & Coffee | 0.0 | 1.1 | -1.1 | 0.0 | 279 Fell & Fjell | Sports & Outdoor | 2.61 | 4.1 | -1.48 | 382.12 | 22 Coastline Interiors | Home & Living | 7.04 | 8.77 | -1.73 | 184.7 | 25 Cinder Peak Sports Co. | Sports & Outdoor | 9.28 | 12.54 | -3.26 | 2712.96 | 75 Cragsley Outfitters | Apparel & Footwear | 22.82 | 26.1 | -3.27 | 28724.77 | 762 Purrfect Pantry | Pet Supplies | 0.0 | 3.44 | -3.44 | 0.0 | 13 Thistlecombe | Apparel & Footwear | 21.64 | 25.16 | -3.52 | 561.43 | 25 Marrowby & Vane | Apparel & Footwear | 20.24 | 24.4 | -4.16 | 10088.68 | 369 Willow & Wren | Home & Living | 6.22 | 13.31 | -7.09 | 233.03 | 15 Lamplight Living | Home & Living | 0.66 | 11.98 | -11.32 | 12.77 | 15 Velvet Ash | Apparel & Footwear | 19.65 | 38.05 | -18.4 | 773.06 | 29 Ampfeld Elektronik | Consumer Electronics | NULL | NULL | NULL | 0.0 | 80 Atelier Nouveau | Apparel & Footwear | NULL | NULL | NULL | 0.0 | 18 Ballycorran Industrial Supply | Industrial Supplies (B2B) | NULL | NULL | NULL | 0.0 | 79 Basecamp Nord | Sports & Outdoor | NULL | NULL | NULL | 0.0 | 12 Brennquell Kaffee | Food & Coffee | NULL | NULL | NULL | 0.0 | 980 Brewline Coffee | Food & Coffee | NULL | NULL | NULL | 0.0 | 10 Chocolaterie Mireille | Food & Coffee | NULL | NULL | NULL | 0.0 | 32 Gratlinie Outdoor | Sports & Outdoor | NULL | NULL | NULL | 0.0 | 51 Hanse Industriebedarf | Industrial Supplies (B2B) | NULL | NULL | NULL | 0.0 | 15 Hautnah | Beauty | NULL | NULL | NULL | 0.0 | 13 Hound Hamper | Pet Supplies | NULL | NULL | NULL | 0.0 | 11 Kettle & Key | Home & Living | NULL | NULL | NULL | 0.0 | 12 Kontor24 Bürobedarf | Office Supplies (B2B) | NULL | NULL | NULL | 0.0 | 57 Linden & Loom | Home & Living | NULL | NULL | NULL | 0.0 | 45 Lumen Collective | Apparel & Footwear | NULL | NULL | NULL | 0.0 | 11 Maison Clair | Apparel & Footwear | NULL | NULL | NULL | 0.0 | 10 Midland Safety Wear | Industrial Supplies (B2B) | NULL | NULL | NULL | 0.0 | 45 Mirelle | Beauty | NULL | NULL | NULL | 0.0 | 15 Noordzee Surfwear | Apparel & Footwear | NULL | NULL | NULL | 0.0 | 16 Ostwind Mode | Apparel & Footwear | NULL | NULL | NULL | 0.0 | 22 Pfotenglück | Pet Supplies | NULL | NULL | NULL | 0.0 | 26 Polder Packaging | Industrial Supplies (B2B) | NULL | NULL | NULL | 0.0 | 18 Ridgeback Gear | Sports & Outdoor | NULL | NULL | NULL | 0.0 | 28 Rue Lafayette Studio | Apparel & Footwear | NULL | NULL | NULL | 0.0 | 44 (58 rows, first 50 printed) === Report 2: Receivables aging: who owes us and for how long (written by Bea) === Engineer's note: EUR conversion uses the EUR-base exchange_rates row whose as_of date is the latest on/before 2025-12-31 for each currency (a single snapshot rate per currency, not a per-invoice historical rate). Net terms are taken from each tenant's default, non-deleted billing_profiles row; if a tenant somehow has more than one default profile the highest net_terms_days is shown. Report returns up to 50 merchants ranked by unpaid balance; the printed report will show the true total row count. REPORT: Receivables aging: who owes us and for how long QUESTION: Which merchants are slowest to pay their invoices, how large and how overdue are the balances, and is this concentrated in B2B wholesale? merchant_name | vertical | total_unpaid_balance_eur | open_invoice_count | days_overdue_oldest | largest_unpaid_invoice_eur | net_terms_days ------------------------------+---------------------------+--------------------------+--------------------+---------------------+----------------------------+--------------- Kontor24 Bürobedarf | Office Supplies (B2B) | 116652.86 | 16 | 13 | 49396.29 | NULL Ballycorran Industrial Supply | Industrial Supplies (B2B) | 22415.24 | 29 | 10 | 4097.99 | NULL Castell Fasteners | Industrial Supplies (B2B) | 14481.02 | 11 | 29 | 3537.39 | NULL OfficeHub Nordic | Office Supplies (B2B) | 14348.57 | 13 | 38 | 3070.98 | NULL Deskline Supplies | Office Supplies (B2B) | 12749.42 | 6 | 3 | 5000.42 | NULL Midland Safety Wear | Industrial Supplies (B2B) | 10049.47 | 9 | 7 | 4437.03 | NULL Polder Packaging | Industrial Supplies (B2B) | 5296.8 | 5 | 12 | 2697.74 | NULL Hanse Industriebedarf | Industrial Supplies (B2B) | 864.14 | 1 | 0 | 864.14 | NULL Brennquell Kaffee | Food & Coffee | 41.84 | 1 | 6 | 41.84 | NULL (9 rows) === Report 3: Cost-driver volume inventory by merchant, 2025 (written by Grace) === Engineer's note: Ordered by total shipping cost EUR descending (not merchant name) per your fallback instruction, to keep ordering deterministic without a secondary sort key conflicting with the requested limit; printed rows are capped at 50 but the query includes every tenant (all ~120 merchants) before the LIMIT, so if fewer than 50 tenants exist all are shown. Used tenants.industry as the "vertical" column since that is the closest attribute in the schema. REPORT: Cost-driver volume inventory by merchant, 2025 QUESTION: What operational cost-driver volumes do we actually have per merchant today, to serve as the measurable building blocks for a cost-to-serve model? merchant_name | vertical | shipment_count_2025 | total_shipping_cost_eur_2025 | return_count_2025 | refund_amount_eur_2025 | ticket_count_2025 | failed_webhook_count_2025 -----------------------+---------------------------+---------------------+------------------------------+-------------------+------------------------+-------------------+-------------------------- Deskline Supplies | Office Supplies (B2B) | 75 | 77876.17 | 6 | 905.48 | 11 | 0 Cragsley Outfitters | Apparel & Footwear | 3483 | 15210.68 | 1370 | 169010.91 | 400 | 0 Marrowby & Vane | Apparel & Footwear | 1671 | 11907.22 | 616 | 62492.02 | 231 | 0 Grind Collective | Food & Coffee | 1094 | 7181.33 | 6 | 573.06 | 122 | 0 Castell Fasteners | Industrial Supplies (B2B) | 156 | 5946.97 | 11 | 1552.35 | 13 | 0 Kibblewick | Pet Supplies | 651 | 5605.63 | 4 | 281.93 | 72 | 0 OfficeHub Nordic | Office Supplies (B2B) | 167 | 4948.84 | 10 | 29640.92 | 15 | 0 Petalcourt Beauty | Beauty | 674 | 4727.42 | 55 | 4571.77 | 119 | 0 Fennel & Flint | Home & Living | 379 | 3109.02 | 52 | 3790.59 | 67 | 0 Honeycomb Larder | Food & Coffee | 604 | 2746.26 | 9 | 379.03 | 58 | 0 Cinder Peak Sports Co. | Sports & Outdoor | 329 | 1683.36 | 78 | 16718.36 | 43 | 0 Feather & Fin | Pet Supplies | 216 | 1118.22 | 5 | 418.97 | 14 | 0 Kayak Corner | Sports & Outdoor | 101 | 931.94 | 16 | 3384.1 | 20 | 0 Willow & Wren | Home & Living | 96 | 833.28 | 19 | 2413.08 | 19 | 0 Thistlecombe | Apparel & Footwear | 87 | 702.4 | 26 | 2304.01 | 21 | 0 The Balm Room | Beauty | 101 | 618.9 | 4 | 772.49 | 15 | 0 Tail Wag Supply | Pet Supplies | 89 | 469.53 | 3 | 75.91 | 6 | 0 Tiny Atelier | Home & Living | 32 | 243.98 | 3 | 263.46 | 6 | 0 Lamplight Living | Home & Living | 49 | 224.18 | 8 | 790.19 | 6 | 0 Haven Linen | Home & Living | 25 | 223.7 | 4 | 432.17 | 4 | 0 Little Larch Kids | Apparel & Footwear | 22 | 212.41 | 12 | 746.22 | 4 | 0 Roast Republic | Food & Coffee | 51 | 211.5 | 0 | 0.0 | 7 | 0 Folio & Fern | Books & Stationery | 43 | 210.33 | 3 | 95.09 | 11 | 0 Bytefield | Consumer Electronics | 21 | 196.21 | 4 | 4487.99 | 6 | 0 Rosehip Lab | Beauty | 28 | 144.28 | 2 | 44.48 | 6 | 0 Circuit Harbor | Consumer Electronics | 18 | 129.24 | 1 | 56.62 | 1 | 0 Nordic Bloom Cosmetics | Beauty | 135 | 121.81 | 6 | 1395.08 | 14 | 0 Oakhurst Tailoring | Apparel & Footwear | 153 | 113.12 | 48 | 3594.08 | 27 | 0 Kibble Crate | Pet Supplies | 16 | 107.29 | 0 | 0.0 | 0 | 0 Meadow Row | Apparel & Footwear | 24 | 105.35 | 5 | 1193.78 | 4 | 0 Snout & Sons | Pet Supplies | 7 | 100.68 | 0 | 0.0 | 0 | 0 Stoneware Studio | Home & Living | 25 | 99.72 | 4 | 93.98 | 3 | 0 Coastline Interiors | Home & Living | 148 | 98.45 | 23 | 1535.87 | 21 | 0 Velvet Ash | Apparel & Footwear | 130 | 81.82 | 59 | 5814.41 | 19 | 0 Inkwell & Quire | Books & Stationery | 15 | 80.56 | 1 | 9.37 | 1 | 0 Juniper Apothecary | Beauty | 150 | 73.88 | 9 | 927.15 | 17 | 0 Fell & Fjell | Sports & Outdoor | 79 | 69.58 | 17 | 5909.87 | 8 | 0 Saffron & Sage | Beauty | 113 | 62.64 | 0 | 737.69 | 10 | 0 Purrfect Pantry | Pet Supplies | 74 | 62.32 | 4 | 119.22 | 4 | 0 Greyfriars Supply | Apparel & Footwear | 14 | 57.52 | 4 | 311.98 | 2 | 0 Glasshouse Grooming | Beauty | 9 | 49.86 | 0 | 0.0 | 0 | 0 Silverthread | Jewelry & Accessories | 13 | 47.27 | 1 | 0.0 | 0 | 0 Dewdrop Studio | Beauty | 5 | 41.41 | 0 | 0.0 | 0 | 0 Signalbox | Consumer Electronics | 5 | 33.62 | 0 | 0.0 | 0 | 0 Fjordline Wear | Apparel & Footwear | 54 | 30.78 | 24 | 2321.06 | 14 | 0 Driftwood Home | Home & Living | 25 | 28.05 | 3 | 389.07 | 6 | 0 Paperplane Press | Books & Stationery | 52 | 25.71 | 4 | 82.22 | 5 | 0 Barkley & Co. | Pet Supplies | 36 | 25.12 | 0 | 51.77 | 4 | 0 Hus & Hem | Home & Living | 33 | 21.65 | 4 | 407.25 | 4 | 0 Copper Lane | Apparel & Footwear | 6 | 19.46 | 2 | 180.52 | 1 | 0 (50 rows)