and history. the of company's the details quarter Thanks and quarter We reviewing to in year welcome our fourth Hello to QTS' call. strongest Stephen. forward end XXXX look earnings bookings fourth
has some for an to year attention the exceptional our turning quarter, what like touch before fourth been QTS. of However, I'd to highlights of the on overall
execution. out quarter, performance strong during a delivered fourth to Turning QTS Slide record-setting of year X. closing another the
federal. believe our of contributions we significant a Importantly, to hybrid hyperscale variety this our different our sources of driven of collocation, diversity in cycles. each performance customer perform, The business was verticals of demand growth enables from by and
hyperscale our hyperscale to the higher in at the steady absorption periodic industry our of ability level times performance select Even quarter-to-quarter. a colocation of businesses growth to and combine from past federal the as opportunities year, support in with consistency witnessed continues return in performance during hybrid slowdowns over our acceleration
initiatives, to federal operational solutions mega-scale both returns in in remains a to sustainability and business and in cost our These infrastructure, software-defined and customer the focus capability performance leadership QTS' record advantage premium risk-adjusted and experience drive digitized, strong include future. Differentiating continued center track each part within today enhanced a through industry our customer platform. of commitment core fully data in our business differentiators
plus are to X,XXX capabilities demonstrate evidenced value our share, financial and willingness our as in resulting the unique customers to Our continues their leasing momentum. market base by and these we of pleased performance with growth
Moving to Slide X.
QTS year grew while XX% reflecting of demonstrated margin For EBITDA XXXX, XX expansion approximately revenue in incremental business. adjusted a our Total year-over-year grew strong points the full acceleration basis XX%, year-over-year.
Over year, the of sustainable course enjoyed growth. achievements a long-term we QTS significant positioned of for number the that
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incremental on opportunity new strong absolute represents footprint small a combined terms, revenue capital Although the given invested in our Netherlands return in low basis.
during progress standards report. them report making annual published the transparency the delivering stakeholders intended to and to key and environmental, provide second allow first its This principles. evaluate to our to we're is Next ESG quarter, initiatives on commitments social QTS the in in highest governance
receive globally which GRESB been our Following team. the an report, awards we've as amazing was ranked data by achievement sustainability the publishing for company our of this number of including in to pleased sustainability, a and leadership one for number center
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engagements the by since rate evidenced increasing share. and our market to as us strong platform, First introducing is years two past our customer our win activity leasing allowing over SDP grow in the
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fourth satisfaction Score In year has Promoter in industry by led center XXXX, QTS as NPS. data track we customer or excellence measured record in Net also marked our customer that service extended support. the XXXX the and consecutive XXXX XX score in NPS strong year team of QTS NPS an QTS' the underlying our XXXX, of and are industry. achievements center of for for which score the business. was our approximately double was average momentum a in reflective data achieved the
from based momentum This delivered results the Turning the our QTS leasing of contributions XXXX, evident of In strongest three in also customer strength performance with all history leasing target significant to X. year. during slide on our our was the verticals.
leases approximately we and a to are new revenue annualized our Based of the and QTS growth gain in XXXX, business, which market are confident we in ongoing signed on represents $XX continuing win incremental modified of year-over-year million XX%. representing rates success share.
X-megawatt Federal industry's fastest-growing in and steady consumers demand. acceleration Hyperscale with expansion in software-as-a-service reflected year Hyperscale with -- in enterprise of the Our of large XX-megawatt that part Hyperscale included lease a the a a businesses media into during XX-megawatt provider that leasing their will Atlanta. and center as lease global into ramp XXXX data capacity Key with a company one continued Ashburn, wins our expansion social combined the a Manassas a facility with in performance new both our anchor strong of
on of we of Leveraging are target leases and XXXX invested signed that power the strategic in of three end larger majority Hyperscale differentiated X% signing to shell only of capital come our was our opportunities approach to platform, acceleration megawatt XX% we pursue. each more Hyperscale to cost-advantaged model our one financial our higher us the selective on Since built opportunities pleased the towards growth allows our assumption in return the be Hyperscale in X-plus range. year, capacity
attractive capital, these generally market typical multi-megawatt opportunities momentum full our the We megawatt remain signing QTS and Federal program. Hyperscale Federal shareholders. requirements with see vertical opportunity growth a as a represents also the invested large return deployment in strong its which for represent multi-site deals, encouraged for in creation Federal we opportunity value an strategic of return for the demonstrated of our We in by X-plus customer in excess supporting on
growth of strong represent our base. which our believe risk-adjusted approximately approach best continues core having as experienced higher and growth revenue diversified of the a Hyperscale path Hybrid remains that is consistent we We recurring to and a in Federal strategic two-thirds opportunities optimize of our Even and that business acceleration business Colocation performance balances acceleration to Colocation, return engine strongly performance the verticals with QTS' a growth customers Hybrid QTS. for Hyperscale
another Piscataway Chicago. Our Hybrid business demand XXXX year Colocation strength solid enterprise with has in in Atlanta, in had Ashburn, and relative
enterprise we growing reflecting in the XXX of size than encouraged logos in Colocation new by During remain XXXX. so Hybrid of increase year-over-year far average number XX% deal in the signed pipeline the deal our and we more larger year,
Now to slide moving on X.
the we've single quarter million achieved $XX is public annualized signed which leases During our the of company. $XX.X prior a and and revenue, double represents QTS average largest new four-quarter quarterly million as nearly incremental of leasing result fourth modified representing
contributed Hyperscale QX, the mix consistent of pricing are was fourth we in foot quarter leasing Despite average all lease the announced. Atlanta square quarter four the the XX-megawatt previously anchor was activity including tenant with that overall per approximately Hyperscale incremental during leases prior leasing in across larger the of the pleased two-third our in quarter that signed average.
hyperscalers Further to highlighting the see to continued in customers value platform. including differentiated QTS'
to to lease, the the addition X megawatt number smaller signed XX-megawatt as the Hyperscale with our business. typical over megawatt customers X across existing our leases in year course footprint a In of is of we large
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previously incumbency have importance discussed We the Hyperscale. in of
these basis As expand commitment and to related the their approval given infrastructure existing vendor on prefer procurement recurring typically incremental time with a processes. to customers the complexity partners and
continue dynamic QTS business, our core the see new bringing we to initiative. the a remains As in platform hyperscale play-out onto logos
logos a were deployment. we pleased provider as including cloud during quarter to a the fourth of three new sign XXXX multi-site hyperscale global During X-megawatt part services
in with over anchor in with in which momentum addition, our of the with the as will XXXX in center we our Hillsboro, X.X-megawatt data Oregon of conjunction new Jeff lease software-as-a-service serve results announcement hyperscale discuss customer an This a existing press customer. global commitment our announced a In release detail. as carried earnings has into will further development
ever million not our and backlog commenced visibility performance resulted XXXX. strong in in Strength the revenue volume de-risk provides year-end. The our annualized recurring backlog in highest $XX but approximately of leasing growth our future of materially overall into signed, financial at our yet
quarter decline X.X%. to remains our on pricing installed a renewal space on base during the healthy. represented Moving renewal activity, rates Same of
density renewal. However customer's one change due to this was in power upon largely
which basis general this in of rates increase on increasing rates foot a with represented relative customer, X.X% consistent mid-single-digit renewal per square renewal to pre-renewal our would to low Excluding rates one have expectation the is a range.
on our focus X the to facilities exited campus continued our as efficiency, London, Kong consolidated operational leased in incremental customers Dulles we free X to of space and from during buildings Hong part well for X up as expansion. non-strategic in quarter Finally as
with for subscale and with our of path constant enhance strategy were our for we platform these below The to Kong incremental facilities Proactive is average operating our exited evaluate Hong X in management facilities to growth. limited that in effort opportunities and profitability London consistent leased efficiency.
Churn and respectively fourth facilities, and included churn with of X.X% the non-strategic year exit full to our deliberate of quarter intentional associated these the strategy customer facilities. X.X% XXXX during leased
facilities, exit impact and quarter have these related the X.X% X.X% been churn of full to for Excluding the fourth the would for the year.
and operating financial our with performance in pleased XXXX. we're Overall
XXXX XXXX Importantly, our growth and in visibility continued and increased momentum. in strong stage leasing performance for sets the
With our that, I'll now Berson, Officer. turn Chief it Financial Jeff to over Jeff?
