Strategic Investments (Tables)

9 Months Ended

Sep. 30, 2022

Strategic Investments

Schedule of Roll-Forward of Strategic Investments

The following tables provide a roll-forward of the balance of strategic investments (in thousands):

	Nine Months Ended September 30, 2022								Nine Months Ended September 30, 2021
	Strategic investments		Warrants			Call options	Total		Strategic investments		Warrants			Total
Balance, beginning of period	$	80,775	$	2,745	$	—	$	83,520	$	9,500	$	2,211	$	11,711
Investments		53,164		459		17,233		70,856		20,500		—		20,500
Observable price changes (1)		40,784		28,539		—		69,323		40,321		534		40,855
Exercises		96,719		(30,089)		—		66,630		—		—		—
Sales		—		—		—		—		(14,546)		—		(14,546)
Balance, end of period	$	271,442	$	1,654	$	17,233	$	290,329	$	55,775	$	2,745	$	58,520

	Inception to date
	Strategic investments		Warrants			Call options	Total
Investments	$	105,732	$	3,047	$	17,233	$	126,012
Observable price changes (1)		83,537		28,696		—		112,233
Exercises		96,719		(30,089)		—		66,630
Sales		(14,546)		—		—		(14,546)
Balance, end of period	$	271,442	$	1,654	$	17,233	$	290,329

(1) Includes a realized gain of $12.3 million for the nine months ended September 30, 2021.