Invitae issued approximately $21.2 million in shares of its own common stock to former CombiMatrix shareholders.
The revenue increase was driven by higher test volumes in its reproductive health segment and improved test reimbursement across all segments.
The release of the financial results comes just days after molecular diagnostics firm Invitae announced it will acquire CombiMatrix.
Invitae is interested in companies that can contribute positively to its revenues in the next two to three quarters, according to CEO Sean George.
The acquisitions will enable Invitae to add reproductive health genetic testing to its portfolio and become what it calls a "comprehensive genomic information company."
The firm noted that its reproductive health test sales were up 32 percent year over year to $2.9 million, while volume for such tests were up 15 percent.
The firm reported $3.5 million in revenue for the three months ended Dec. 31, 2016, and $12.9 million for the full year.