v3.26.1
LONG-TERM INVESTMENTS
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
LONG-TERM INVESTMENTS LONG-TERM INVESTMENTS
Long-term investments consisted of the following:
March 31,
2026		December 31,
2025
PropTech convertible trading debt securities$1,229 $1,229 
Long-term investment securities at fair value (1)
3,184 3,170 
PropTech investments at cost6,118 6,150 
PropTech investments under equity-method
955 825 
Total investments11,486 11,374 
Less PropTech current convertible trading debt securities (2)
1,229 — 
Less PropTech investments accounted for under the equity-method (3)
955 825 
Total long-term investments$9,302 $10,549 
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(1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820.
(2) These amounts are included in “Other current assets” on the condensed consolidated balance sheets.
(3) These amounts are included in “Equity-method investments” on the condensed consolidated balance sheets.
Net realized and unrealized (losses) gains on long-term investment securities were as follows:
Three Months Ended
March 31,
20262025
Net unrealized losses on long-term investments at fair value
(36)(121)
Net (losses) gains on long-term investment securities without a readily determinable fair value that does not qualify for the NAV practical expedient
(4)78 
Net realized and unrealized losses on long-term investment securities
$(40)$(43)
(a) PropTech Convertible Trading Debt Securities:
These securities are classified as trading debt securities and are accounted for at fair value. The remaining convertible note matures in February 2027.
(b) Long-Term Investment Securities at Fair Value:
The following is a summary of net unrealized losses on long-term investment securities at fair value during the three months ended March 31, 2026 and 2025, respectively:
Three Months Ended
March 31,
20262025
Net unrealized losses on long-term investments at fair value
$(36)$(121)
The Company has unfunded commitments of $400 related to long-term investment securities at fair value as of March 31, 2026.
(c) Equity Securities Without Readily Determinable Fair Values That Do Not Qualify for the NAV Practical Expedient
Equity securities without readily determinable fair values that do not qualify for the NAV practical expedient consisted of investments in various limited liability companies as of March 31, 2026. The total carrying values of equity securities without readily determinable fair values that do not qualify for the NAV practical expedient were $6,118 as of March 31, 2026 and $6,150 as of December 31, 2025. No impairment or other adjustments related to observable price changes in orderly transactions for identical or similar investments were identified for the three months ended March 31, 2026 and 2025.