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Speaking from management on today's call will be Eric Lindberg, chairman of the board and interim president and chief executive officer; and Lindsay Gray, interim chief financial officer and SVP of accounting. Dealflow is very strong, and we believe that we are still the best partner in the industry. Net sales increased 10.4%
Our net cash provided by operating activities was $8 million, and we generated free cash flow of $7.1 I'll note that this is the 15th consecutive quarter as a publiccompany in which we have met or exceeded our revenue guidance. Our partner network continues to generate opportunities and open new dealflow.
We believe the continued path of central bank normalization will support sustained inflows across bond funds, ETFs, and institutional accounts. BlackRock manages more than $300 billion of assets across model portfolios and separately managed accounts for wealth managers. We're bringing private markets to wealth clients.
For example, the Securities and Exchange Commission rule which took effective in December required publiccompanies to disclose cybersecurity breaches in a Form 8-K within four business days after determining it has a material impact on the business. The increasingly dangerous threat environment has led governments to enact regulation.
By aligning our sales team and reallocating resources to focus on large enterprise accounts with larger ACVs, we have turned large enterprise into our largest, fastest growing customer group with NRR rates well above company average, trending well above 105% on an LTM basis. Editorial costs were approximately $4.5
While we, as a publiccompany, always provide you with the split times quarterly results, we are running a marathon, not a series of sprints. Professional line space has also been impacted by changes in the broader economy including a slowdown in M&A and public listings. billion, compared to $4.2 billion a year ago.
These non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles. And is there any difference in linearity of dealflow during the quarter, this quarter versus previous quarters? It's our entire history as a publiccompany, and we're going to continue with that.
We are lowering our ARR guidance by 100 basis points from our prior guidance to account for the incremental level of prudence related to the timing of the large strategic deals I just mentioned. And with that in mind, let's start with our updated guidance for the full year with growth rates in constant currency.
Eva Shang : So at the time that we launched, there were already publiccompanies that were doing litigation finance. So in the early years we only had 10 million of assets, but we had billions of dollars of dealflow. Of existing companies. Are other people saying, Hey, we didn’t realize this was so doable.
Hosting the call today, we have Ed Pitoniak, chief executive officer; John Payne, president and chief operating officer; David Kieske, chief financial officer; Gabe Wasserman, chief accounting officer; and Moira McCloskey, senior vice president of capital markets. Gabriel Wasserman -- Chief Accounting Officer Yeah. years to maturity.
Approximately 50% of this increase is already accounted for by our current snow pipeline of $66 million. dating back 30 years when Macerich first became a publiccompany. So it's those little things that we've done internally, I think, account for the velocity that I alluded to earlier in my opening remarks.
You know, there used to be companies that have a hundred and $200 million market caps that would go public, but it’s been, it’s been made much more difficult to be a publiccompany. There are far fewer people that play with those companies. I got that under being 60.
publiccompany by market cap, exceeding the market value of all other asset managers. We expect to benefit from multiple engines of growth as these clients execute pension risk transfers, additional annuity sales, new insurance block deals, and separate accounts for sector-specific lending. And so that's a positive.
And the Government segment was weaker than we had anticipated based on timing of dealflow. We're definitely in the third category, and we'll continue, as we have been, to use AI as a market expander across all of our product sets such as finance, accounting, and procurement and all of our end-user environments.
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