Thank you for standing by. My name is Christina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Sprout Social Q4 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise, and after the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. And if you would like to withdraw your question at any time, you can press star one again. I would now like to turn the floor over to Alex Kurtz, VP IR and Corporate Development. Alex, the floor is now yours.
Thank you, Operator, and welcome to Sprout Social's Fourth Quarter 2024 Earnings Call. We will be discussing the results announced in our press release issued after market close today and have also released our updated investor presentation, which can be found on our website. With me are Sprout Social's CEO, Ryan Barretto, and CFO, Joe Del Preto. Today's call will contain certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. These include, among others, statements concerning our expected future financial performance, including our Q1 and 2025 outlook, and business plans and objectives, and can be identified by words such as expect, anticipate, intend, plan, believe, seek, opportunity, or will.
These statements reflect our views as of today only and should not be relied upon as representing our views at any subsequent date, and we do not undertake any duty to update these statements. Forward-looking statements address matters that are subject to risks and uncertainties that could cause actual results to differ materially. For discussion of the risks and other important factors that could affect our actual results, please refer to our annual report on Form 10-K for the fiscal year ended December 31st, 2024, to be filed with the SEC, as well as our most recently filed 10-K and 10-Qs. During the call, we will discuss non-GAAP financial measures, which are not prepared in accordance with generally accepted accounting principles.
Definitions of these non-GAAP financial measures, along with the reconciliations for the most directly comparable GAAP financial measures, are included in our fourth quarter earnings release, which will be furnished to the SEC and is available on our website at investors.sproutsocial.com. With that, let me turn the call over to Ryan. Ryan?
Thank you, Alex, and welcome to our fourth quarter earnings call for fiscal 2024. We reported fourth quarter results with revenue of $107.1 million, representing year-over-year growth of 14%. Our current remaining performance obligations, which reached $249.4 million, represented 26% year-over-year growth. I want to thank the Sprout team for their focused execution to close out 2024. Their hard work in the quarter has allowed us to build a stronger foundation for future growth in 2025 and beyond. We saw steady improvements in gross retention, continued ACV growth, and momentum in our enterprise segment. The Q4 demand environment remained consistent with Q3, marked by budget scrutiny, cautious investments, and prolonged sales cycles. Given these trends, we're taking a measured approach to FY 2025, expecting demand to track with FY 2024.
In Q4, our go-to-market teams delivered strong results in our $50K ARR customer net adds and in our cRPO growth, both clear indicators of a success in securing annual and multi-year enterprise agreements. We also saw steady pipeline trends with healthy year-over-year growth across both inbound and outbound channels, particularly in our enterprise business. Further underscoring this momentum, revenue from the $50K segment grew over 35% in FY 2024 and continues to represent a larger share of our overall revenue base. These results highlight the ongoing success of our up-market strategy. We believe the competitive landscape is increasingly favorable for Sprout, creating a unique opportunity to solidify our market position with enterprise-level care, AI functionality, and Influencer Marketing capabilities. This momentum was evident in Q4 as we closed the largest new business ACV win in Sprout's history with a Fortune 500 financial services company.
We also won a strategic opportunity with Under Armour, and I'm excited to share a quote from this amazing brand. "We chose Sprout for its innovative features, intuitive interface, and the ability to seamlessly manage publishing, listening, and social engagement all in one platform. With the goal of reaching Gen Z audiences and tapping into deeper insights about this key demographic, Sprout has empowered us to respond quickly and effectively. The integration with Salesforce Service Cloud has also streamlined our customer service process, allowing us to manage inquiries directly from one place. Early successes like the Notre Dame Championship and the NBA All-Star Weekend have shown the true value of Sprout in driving our social media strategy forward.
Partnering with these industry leaders, along with other significant enterprise wins this quarter, underscores the value we bring to some of the world's most sophisticated brands. With that as the backdrop, I want to outline why we believe Sprout is uniquely positioned to not just win, but help shape the future of social media management, a market that has become indispensable for brands seeking authentic customer connections and deep business impact. I'll then touch on a few updates on our four key growth drivers before handing the call over to Joe. In today's rapidly evolving digital landscape, brands can no longer afford to tackle the complexities of social media without a powerful integrated platform. The question isn't whether they need one; the question is when they will hit the tipping point and which platform will drive their success.
With a relentless focus on customer impact, a growing partner ecosystem, real-time data insights, and strategic AI integration, we believe we are the mission-critical solution for enterprises looking to lead in social. Our customers see us as a trusted partner, helping them engage their audiences, drive action, and deliver measurable results. Our customers manage dozens to hundreds of social accounts while integrating insights from CRM, help desk, marketing, and collaboration platforms. Rather than juggling multiple tools and networks, they're able to rely on Sprout as their central hub to help orchestrate and optimize their entire social strategy. This unified approach is a key differentiator in a market crowded with fragmented tools, and it continues to drive our momentum in the enterprise space. Our partner ecosystem also continues to evolve with deepening integrations like Salesforce and expanding relationships with both established and emerging social networks.