| Investments |
Investments Equity investments by measurement category as of June 30, 2025 and June 30, 2024 were as follows (in thousands): | | | | | | | | | | | | | Measurement category | 2025 | | 2024 | | Fair value | $ | 13,080 | | | $ | 12,026 | | | Measurement alternative | 63,642 | | | 73,739 | | | Equity method | 76,178 | | | 65,462 | | | Total | $ | 152,900 | | | $ | 151,227 | |
The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Non-marketable securities | | Marketable securities | | Equity method investments | | Total | | Balance at the beginning of the period | $ | 73,739 | | | $ | 12,026 | | | $ | 65,462 | | | $ | 151,227 | | | Additions to investments | 5,778 | | | — | | | 638 | | | 6,416 | | | | | | | | | | | Impairment of investments | (11,742) | | | — | | | — | | | (11,742) | | | Realized gains on marketable and non-marketable equity securities | 389 | | | — | | | — | | | 389 | | | Proceeds from exits of investments | (4,628) | | | — | | | — | | | (4,628) | | | Unrealized gains on marketable equity securities | — | | | 1,054 | | | — | | | 1,054 | | | Gain attributable to equity method investments | — | | | — | | | 3,644 | | | 3,644 | | | | | | | | | | | Foreign currency translation adjustments | 106 | | | — | | | 6,434 | | | 6,540 | | | Carrying value at the end of the period | $ | 63,642 | | | $ | 13,080 | | | $ | 76,178 | | | $ | 152,900 | |
The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Non-marketable securities | | Marketable securities | | Equity method investments | | Total | | Balance at the beginning of the period | $ | 68,748 | | | $ | 12,423 | | | $ | 65,366 | | | $ | 146,537 | | Additions to investments | 8,640 | | | 1,000 | | | 3,125 | | | 12,765 | | | Observable price adjustments on non-marketable equity securities | 2,315 | | | — | | | — | | | 2,315 | | | Impairment of investments | (4,963) | | | — | | | — | | | (4,963) | | | | | | | | | | | Proceeds from exits of investments | (1,000) | | | — | | | — | | | (1,000) | | | Unrealized losses on marketable equity securities | — | | | (1,397) | | | — | | | (1,397) | | | Loss attributable to equity method investments | — | | | — | | | (1,848) | | | (1,848) | | | | | | | | | | | Foreign currency translation adjustments | (1) | | | — | | | (1,181) | | | (1,182) | | | Carrying value at the end of the period | $ | 73,739 | | | $ | 12,026 | | | $ | 65,462 | | | $ | 151,227 | |
|