| Investments |
Investments Equity investments by measurement category as of June 30, 2026 and June 30, 2025 were as follows (in thousands): | | | | | | | | | | | | | Measurement category | 2026 | | 2025 | | Fair value | $ | 3,359 | | | $ | 13,080 | | | Measurement alternative | 80,579 | | | 63,642 | | | Equity method | 76,801 | | | 76,178 | | | Total | $ | 160,739 | | | $ | 152,900 | |
The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2026 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Non-marketable securities | | Marketable securities | | Equity method investments | | Total | | Balance at the beginning of the period | $ | 63,642 | | | $ | 13,080 | | | $ | 76,178 | | | $ | 152,900 | | | Additions to investments | 27,017 | | | 1,000 | | | 519 | | | 28,536 | | | Observable price adjustments on non-marketable equity securities | 3,116 | | | — | | | — | | | 3,116 | | | Impairment of investments | (7,409) | | | — | | | — | | | (7,409) | | | | | | | | | | | Proceeds from exits of investments | (2,752) | | | — | | | — | | | (2,752) | | | Acquisition of controlling interest in previously held investment | (3,000) | | | — | | | — | | | (3,000) | | | Unrealized gains (losses) on marketable equity securities | — | | | (10,721) | | | — | | | (10,721) | | | Gain (loss) attributable to equity method investments | — | | | — | | | 6,955 | | | 6,955 | | | Dividends received | — | | | — | | | (4,573) | | | (4,573) | | | Foreign currency translation adjustments | (35) | | | — | | | (2,278) | | | (2,313) | | | Carrying value at the end of the period | $ | 80,579 | | | $ | 3,359 | | | $ | 76,801 | | | $ | 160,739 | |
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 (losses) on marketable and non-marketable equity securities | 389 | | | — | | | — | | | 389 | | | Proceeds from exits of investments | (4,628) | | | — | | | — | | | (4,628) | | | Unrealized gains (losses) on marketable equity securities | — | | | 1,054 | | | — | | | 1,054 | | | Gain (loss) 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 | |
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