FemTech became a venture label before the underlying conditions and business models had much in common. Fertility benefits and clinics look like enterprise-contracted healthcare; cycle and reproductive health apps look like consumer subscription; menopause, pelvic health and gynaecological devices each carry their own clinical, reimbursement and distribution dynamics. Carrot, Maven and Kindbody set the employer-contracted reference points.

Finance work has to be tailored to whichever model the operator is actually running. A fertility benefits platform recognises revenue against PMPM employer contracts and reconciles utilisation against contracted lives; a cycle app reports through subscription and ARPU cohorts; a menopause clinical platform mixes telehealth visit revenue with pharmacy and supplement attach; a device or diagnostic capitalises regulatory work and reports a hardware P&L. Retention has to be measured on horizons long enough to capture fertility journeys, pregnancy and chronic-condition use.

Flow provides financial modelling, FP&A and fractional CFO advisory to FemTech companies across fertility clinics and digital fertility benefits, cycle and reproductive health apps, pregnancy and postpartum platforms, menopause and midlife care providers, pelvic health businesses and women's health devices and diagnostics. Our startup CFO team produces the FP&A and financial modelling each comp set requires.