Investments

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investments

InvestmentsAs of June 30, 2022 and December 31, 2021, the Company’s investments consist of cost method investments of $10,666 and $6,438, respectively. The carrying amount of the Company’s equity method investment was zero as of June 30, 2022 and December 31, 2021.

Through iTwin Ventures, the Company invests in technology development companies, generally in the form of equity interests or convertible notes. The Company recorded these investments under the cost method. For the six months ended June 30, 2022, the Company invested $4,361 in cost method investments.

The Company accounts for Digital Construction Works, Inc. (“DCW”) using the equity method. DCW, a 50%‑owned joint venture with Topcon Positioning Systems, Inc., operates as a digital integrator of software and cloud services for the construction industry. DCW’s focus is to transform the construction industry from its legacy document‑centric paradigm by simplifying and enabling digital automated workflows and processes, technology integration, and digital twinning services for infrastructure. For the six months ended June 30, 2022, the Company invested $1,200 in DCW. Pursuant to FASB ASC Topic 850, Related Party Disclosures, the Company has determined that DCW is a related party. For the six months ended June 30, 2022, transactions between the Company and DCW were not material to the Company’s consolidated financial statements.