We expect to realize G&A synergies, sales motion synergies, project delivery utilization synergies and cross-sell opportunities as Vetasi integrates with Cohesive. While both the EasyPower and Vetasi acquisitions are of our programmatic scale and not material to warrant disclosure of their specific financial information, I do consider we acquired each at what this former CFO considers to be very efficient valuations. They perfectly aligned to the historically successful programmatic acquisition strategy we’ve previously articulated. And now as I sign off, I will have to say most of my reflections, sentiments, encouragements and untold secrets for a proper retirement party and speech. But I would like to share that I am both humbled by the quality, character and talent of my colleagues over the years, and I’m so very proud of what we’ve accomplished together.
I will leave the body of work to speak for itself. And while I personally may be moving away from driving value each day, I’m lifted by the even greater potential that I see for Bentley Systems, and I’m comforted that the depth of talent and quality of culture will continue to harvest that potential. And like Keith but maybe with a zero removed, I too will be a Bentley Systems shareholder for a very long time. And you can bet that I’ll be frequently tripping in the year of one person or another when I see things that need to be fixed or opportunities to be exploited. And speaking of character and talent, I’d now like to hand over to our CFO, Werner Andre.
Werner Andre: Thank you, David. And thank you for your leadership, the profound impact you have had on Bentley and the mentoring and guidance you have given me over the years. We are pleased that we finished the year strong, and we feel good about our outlook for 2023. I’ll start with our Q4 revenue performance. Total revenues were $287 million, up 7% year-over-year or 13% on a constant currency basis. On a constant currency basis, Americas grew 9%, EMEA, 16% and APAC 17%. For the quarter, subscription revenues grew 13% year-over-year or 18% in constant currency and represented 88% of our total revenues. The growth is supported by our balanced business performance across sectors and regions other than China, our E365 and SMB growth initiatives and our platform acquisition of Power Line Systems in January 2022.
Regarding our perpetual licenses and services revenues, recent trends continue, which are reflective of our focus on recurring subscription revenues. Now moving on to full year revenue, which were $1.1 billion, and up 14% year-over-year or 20% in constant currency, which is at the high end of our constant currency outlook range. On a constant currency basis, Americas grew 22%, EMEA 15%, and APAC 21%. China was a nine percentage points headwind to APAC’s constant currency revenue growth. Subscription revenues grew 18% or 24% in constant currency, which included 12 percentage points from our Seequent and Power Line Systems acquisition and 12 percentage points from our business performance. I’m covering next our recurring revenue performance. Our constant currency account retention rate was at 98%, and our constant currency recurring revenue net retention rate remained at 110%, led by continued accretion within our E365 consumption-based commercial model.
