Client: Biovxxxx Dxxxxxxxxs
Owner: Mike xxxxxx
Industry: MedTech (diagnostic equipment and lab testing)
Starting Revenue: $1.3M
Current Revenue: $2.2M
The Before: Innovation Without Infrastructure
Mike founded his company to bring fast, affordable diagnostic testing to under-resourced clinics. The technology was strong, and demand exploded after a major health system placed its first bulk order. But behind the scenes, they were flying blind.
There were no reliable margins, no cash flow forecast, and no insight into which product lines were actually profitable. Investor conversations felt speculative. Hiring decisions were rushed. And a potential Series A raise was stalling due to lack of financial clarity.
“I knew our tech had legs, but I didn’t have a grip on the business side. We had some clunky models. It felt like I was guessing on everything,” Mike said.
The Bridge: Astero Group’s Fractional CFO Leadership
Astero Group stepped in as their fractional CFO and immediately implemented a financial operating system to stabilize the chaos. We rebuilt the forecast from the ground up, introduced scenario planning tools for production and fundraising, and aligned COGS tracking across product lines.
We also helped prepare investor-ready financials, established pricing models with sustainable gross margins, and forecasted cash runway down to the week. When suppliers tried to push through 12% cost increases, we armed Mike with data that allowed him to renegotiate and win.
The After: Clarity, Capital, and Confidence
Today, the company is running with real financial discipline. They successfully raised a $3.5M seed extension and are negotiating larger distribution deals from a position of strength. Gross margins have improved 18%, and the executive team has a clear handle on unit economics, inventory cycles, and team capacity.
“Astero didn’t just clean up our numbers. They made us investable. I’ve got data I can stand behind, and decisions I can trust,” Mike says.