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The firm saw low-single digit growth across its business segments in the quarter as well as in the full year.
Diagnostics revenues for the fourth quarter were $1.76 billion, up 4 percent from $1.69 billion in the same quarter last year.
The company announced during its Q4 earnings call that it had acquired Paradigm Diagnostics and Viomics to fill out its expertise in cancer diagnostics.
The company also inked a deal with an investment bank to publicly offer from time to time up to $4.2 million of its stock.
The firm said that its Verigene II multiplex system is on track to launch in mid-2020 among a number of new products scheduled for release this year.
The firm reported that test volumes for its Cologuard colorectal cancer screening test rose 63 percent year over year.
The firm submitted its Verigene II Gastrointestinal Flex Assay to the FDA in Q4 and expects to submit Verigene II Respiratory Flex Assay to the agency in Q1 2020.
PacBio will try to take the Sequel II to the clinic in China with the help of Berry Genomics and is open to partnerships globally, including with Illumina.
Diagnostics segment revenues for the company fell 5 percent to $38.4 million, and life sciences revenues dropped 15 percent to $12.6 million.
The company attributed its revenue shortfall to billing issues in the prenatal testing business and announced that CFO Bryan Riggsbee will be interim CEO.