EMERYVILLE -
In addition, the company's Clean Beauty business continued its breakout performance.
The company executed very well operationally during fourth-quarter 2019 toward meeting its customer product requirements and delivered record recurring sales in 2019 that more than doubled prior year performance. These product volume results were driven by strong market and consumer demand for clean and natural products that are sustainably sourced from fermentation as well as the competitively differentiated high performance of the company's ingredients and products.
'Our team executed very well in producing and shipping record volumes in the fourth quarter and extended our leading role in bringing high performance renewable products to more and more consumers,' said
Continued Melo, 'Our technology advantage, growth trajectory and reputation as the only company in our sector to have scaled multiple products with commercial success has provided us with opportunities to apply our intellectual property to disrupt markets and fund the business. This positioning is helping provide us greater scale and the means to meet our financing needs with market participants that are familiar with our leadership in synthetic biology. We delivered record volumes to each of our major customers and 8 of our 10 fermentation-based products are now enjoying market leadership. We expect 2020 to be another great year with the very strong potential to once again more than double our recurring revenue and set new records for our current customers while celebrating the commercialization of our first cannabinoids.'
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Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as the business performance and growth of the company's Clean Beauty products, the expected revenue from products sales in the fourth quarter of 2019 and the anticipated revenue, operational growth and leadership position in 2020. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to
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