What happened Shares of Invitae (NYSE: NVTA) fell as much as 15.5% today after the company reported fourth-quarter and full-year 2019 operating results. The genetic testing company delivered impressive growth in 2019 compared to the prior year, including year-over-year increases of 47% in revenue and 59% in test volumes. Despite the solid results, Wall Street analysts were expecting $68.1 million in fourth-quarter 2019 revenue. Invitae reported "only" $66.3 million. While the difference was insignificant in the grand scheme of things, it doesn't take much to derail a volatile growth stock. As of 1:49 p.m. EST, shares had settled to a 11.2% loss. Image source: Getty Images. So what On the one hand, the harsh reaction to the miss on fourth-quarter revenue is certainly an overreaction. Invitae performed well in 2019 and made important strides to expand its business. It launched new tests, formed new partnerships, and joined major health insurance networks. On the other hand, the genetic testing company reported an operating loss of $244 million in 2019. Investors have accepted steep losses as the price of owning a high-growth company, but the losses are unsustainable. Metric 2019 2018 Change Test volume 482,000 303,000 59% Revenue $216.7 million $147.7 million 47% Gross profit $98.7 million $67.6 million 46% Operating income ($244.1 million) ($122.5 million) N/A Cash flow from operating activities ($145.0 million) ($92.2 million) N/A Data source: Company press release. Now what Investors can only hope that a high rate of growth eventually translates into operating profits. For 2020, Invitae expects to achieve more than $330 million in revenue and process at least 725,000 tests, representing year-over-year increases of over 50% for each metric. That should help to create a path to profitability, assuming operating expenses can be held in check. But for the foreseeable future, investors should expect the stock to remain volatile. 10 stocks we like better than InvitaeWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Invitae wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Invitae. The Motley Fool has a disclosure policy.Source