Fractional CFO

About 20/20 Onsite
www.2020onsite.com
20/20 Onsite provides eye assessments, vision screening, and related services required for clinical trials undertaken by pharmaceutical companies, CROs, and clinical sites. Our unique ‘point of need’ service model reaches trial participants at or near where they live, work, or receive care through a distributed network of mobile, modular clinics that increase participant engagement, retention, and satisfaction (NPS > 95). Trial sponsors and managers report accelerated enrollment timelines, increased trial efficiency and data quality, and higher adherence to trial budgets and schedules. 20/20 Onsite currently supports trials and commercial-stage programs at over 100 sites across the continental US.

The Opportunity
With the departure of our Finance Director, we are seeking an experienced Fractional CFO in the Boston area to provide finance leadership. This experienced executive will work closely with the CEO, Board, and investors to ensure continuity of financial operations, maintain rigorous forecasting, and support strategic planning.

Key Company Highlights

• Completing a strategic pivot to Life Sciences clinical trial support from corporate vision care.
• CY25 estimated Life Sciences revenues of ~$8M, growing >40% from CY24; legacy business contributing ~$3M.
• Current bookings of $11.5M in CY25 Life Sciences contracts through June; ~$20M bookings over trailing 12 months.
• Cash balance forecasted to remain above $1M, with an undrawn A/R line available.
• VC-backed with major institutional investor in Life Sciences vertical.

Key Responsibilities

Processes

• Assure continuity, integrity, and control of accounting processing and financial reporting.
• Prepare clear, accurate, and timely Board and investor financial materials.
• Tight control of accounts receivable (A/R) and accounts payable (A/P) to maintain healthy cash flow and minimize risk. Oversee timely billing and collections processes.
• Manage tax filings and ensure compliance with applicable federal, state, and local requirements.
• Support deal pricing and terms development, as needed.
• Support revenue and backlog forecasting, leveraging existing tools and templates to provide actionable insights.
• Provide a steady hand in accounting and finance during the leadership transition period.
• Identify additions/improvements to finance and accounting functions including staffing and systems.

Key Projects

• Complete the 2024 external financial review on schedule.
• Prepare and complete the bank line of credit renewal, ensuring optimal terms and readiness.
• Identify and drive focused cost reduction initiatives to improve financial efficiency.
• Advance and complete Cost of Revenue analysis, and provide recommendations for margin improvement.

Ideal Background

• Experience in healthcare services, pharmaceutical, biotechnology, or clinical research industries strongly preferred.

Timing & Commitment

This fractional role would ideally begin in July 2025, including providing support during the CEO’s planned maternity leave (late September 2025 to early 2026). Must be available to spend time at headquarters in Everett, MA on a weekly basis.