Thank you for standing by, and at this time, I would like to welcome everyone to today's Backblaze Fourth Quarter and Full Year 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. Once again, star one, and if you'd like to withdraw your question, simply press star one again. Thank you. I would now like to turn the call over to Mimi Kong, Head of Investor Relations. Mimi, please go ahead.
Thank you. Good afternoon and welcome to Backblaze's Fourth Quarter and Full Year 2024 earnings call. On the call with me today are Gleb Budman, Co-founder, CEO, and Chairperson of the Board, and Marc Suidan, Chief Financial Officer. Today, Backblaze will discuss the financial results that were distributed earlier this afternoon. Statements on this call include forward-looking statements about our future financial results, the impact of our go-to-market transformation, sales and marketing initiatives, cost-saving initiatives, results from new features, the impact of price changes, our ability to compete effectively and manage our growth, and our strategy to acquire new customers and retain and expand our business with existing customers. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including those described in our risk factors that are included in our annual report on Form 10-K and our other financial filings.
You should not rely on our forward-looking statements as predictions of future events. All forward-looking statements that we make on this call are based on assumptions and beliefs as of today, and we undertake no obligation to update them except as required by law. Our discussion today will include non-GAAP financial measures. These non-GAAP measures should be considered in addition to and not as a substitute for our GAAP results. Reconciliation of GAAP to non-GAAP results may be found in our earnings release, which was furnished with our Form 8-K filed today with the SEC. You can also find a slide presentation related to our comments in the webcast, which will also be posted to our investor relations page after the call. Please also see our press release or presentation for definitions of additional metrics such as NRR, Gross Customer Retention Rate, ARPU, and Adjusted Free Cash Flows.
We'd also like to inform you that we will be participating in the Oppenheimer Emerging Growth Conference tomorrow on February 26th and the Citizens JMP Tech Conference on March 3rd and 4th. We hope to see you there. Thank you for joining us, and we'd now like to turn the call over to Gleb.
Thank you, Mimi, and welcome everyone to the call. Revenue grew 18% over the same period last year, and B2 Cloud Storage grew 22%. B2 Cloud Storage, our fastest-growing solution, is now over 50% of the business in Q4. An Adjusted EBITDA margin came in at 14%, doubling over the same period last year. I'll talk more about the quarter in a moment, but first, I wanted to take stock of where we've been and where we're going. In the last four years, we have more than doubled both the revenue and Adjusted EBITDA margin. We transitioned from a company selling primarily to SMB customers to a self-serve model to one that also supports enterprises with a direct sales and partnership model. We also doubled our number of data regions and launched a host of innovations to provide customers and partners with more value.
As we look to the next few years, we are focused on becoming a Rule of 40 company, delivering both growth and profitability, and continuing to build the leading storage cloud for the Cloud 2.0 era. Now, let's talk about our recent results. During our last earnings call, we shared two key initiatives: a go-to-market transformation focused on driving B2 growth and our plan to be adjusted free cash flow positive by Q4. First, I'll share details about our go-to-market transformation, and then Marc will provide an update on our path to becoming adjusted free cash flow positive. I am pleased with the impressive progress our team has made on our go-to-market transformation, as we are already seeing strong early signs.
ARR win rates were up significantly, and sales productivity in Q4 doubled year over year, leading the team to meaningfully beat quota for the quarter and the full year, despite being behind quota when Jason, our new Chief Revenue Officer, arrived in July. Not only did we increase sales productivity across the sales team, but we also signed a significant expansion for an existing customer for over $1 million based on annual contract value. We had a record sales booking quarter, which was greater than the prior three quarters combined. B2 Cloud Storage had net new ARR sequential growth of $5 million, a record outside of that driven by the price increase. These are excellent early signs that the go-to-market transformation is working. As a reminder, due to the nature of us being an as-a-service business, there is generally a lag before these leading indicators translate into revenue.
However, we do believe that the low point in organic growth was behind us in Q3, and we are already seeing an acceleration in B2 growth. Marc will go into more details later on in the call. Now, how have we achieved these results and acceleration to date? We've done that through the three main focus areas we talked about last quarter: upskilling, partnerships, and sales plays. First, on upskilling the sales team, Jason is moving at lightning speed and has an outsized impact in a short period of time. He has implemented robust training and a more rigorous and repeatable process to help ensure that the team is set up well to continue to move up market. In the last few months, we also hired skilled sales leadership and additional experienced quota-carrying reps to increase sales capacity, along with a VP of Demand Generation to help fill the pipeline.