Strategic Investments (Tables)

9 Months Ended

Sep. 30, 2023

Strategic Investments

Schedule of Roll-Forward of Strategic Investments

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

	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
	Strategic investments		Warrants			Call options	Total		Strategic investments		Warrants			Call options		Total
Balance, beginning of period	$	215,945	$	459	$	17,233	$	233,637	$	264,156	$	1,195		16,340	$	281,691
Investments		4,099		1,176		—		5,275		8,004		459		893		9,356
Fair value adjustments:
Unrealized losses and impairments		—		(113)		—		(113)		(718)		—		—		(718)
Exercises		1,500		—		—		1,500		—		—		—		—
Balance, end of period	$	221,544	$	1,522	$	17,233	$	240,299	$	271,442	$	1,654	$	17,233	$	290,329

	Nine Months Ended September 30, 2023								Nine Months Ended September 30, 2022
	Strategic investments		Warrants			Call options	Total		Strategic investments		Warrants			Call options		Total
Balance, beginning of period	$	277,676	$	1,654	$	17,233	$	296,563	$	80,775	$	2,745		—	$	83,520
Investments		15,016		1,176		—		16,192		53,164		459		17,233		70,856
Fair value adjustments:
Unrealized gains		—		—		—		—		41,893		28,539		—		70,432
Unrealized losses and impairments		(72,648)		(1,308)		—		(73,956)		(1,109)		—		—		(1,109)
Exercises		1,500		—		—		1,500		96,719		(30,089)		—		66,630
Balance, end of period	$	221,544	$	1,522	$	17,233	$	240,299	$	271,442	$	1,654	$	17,233	$	290,329

	Inception to date
	Strategic investments		Warrants			Call options	Total
Investments	$	124,498	$	4,222	$	17,233	$	145,953
Fair value adjustments:
Realized gains		12,312		—		—		12,312
Unrealized gains		74,817		29,073		—		103,890
Unrealized losses and impairments		(73,756)		(1,684)		—		(75,440)
Exercises		98,219		(30,089)		—		68,130
Sales		(14,546)		—		—		(14,546)
Balance, end of period	$	221,544	$	1,522	$	17,233	$	240,299