Investments (Tables)

3 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

The Company’s investments of marketable securities as of September 30, 2022, consisted of the following (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. treasury securities	$	44,999	$	—	$	(462)	$	44,537
Certificates of deposit and time deposits	10,000		—		—		10,000
Total marketable securities	$	54,999	$	—	$	(462)	$	54,537

The Company’s investments of marketable securities as of June 30, 2022, consisted of the following (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. treasury securities	$	70,947	$	—	$	(653)	$	70,294
Certificates of deposit and time deposits	3,000		—		—		3,000
Total marketable securities	$	73,947	$	—	$	(653)	$	73,294

Investments Classified by Contractual Maturity Date

The table below summarizes the Company’s marketable securities by remaining contractual maturity based on the effective maturity date (in thousands):

	September 30, 2022		June 30, 2022
Due in one year or less	$	54,537	$	73,294

Schedule of Strategic Investments

Strategic Investments by form and measurement category as of September 30, 2022 were as follows (in thousands):

	Fair Value		Measurement Alternative		Other		Total
Equity securities	$	20,993	$	133,030	$	—	$	154,023
Debt securities and other investments	—		—		1,560		1,560
Total strategic investments	$	20,993	$	133,030	$	1,560	$	155,583

Strategic Investments by form and measurement category as of June 30, 2022 were as follows (in thousands):

	Fair Value		Measurement Alternative		Other		Total
Equity securities	$	30,801	$	126,995	$	—	$	157,796
Debt securities and other investments	—		—		1,268		1,268
Total strategic investments	$	30,801	$	126,995	$	1,268	$	159,064

Unrealized Gain (Loss) on Investments

The components of gains and losses on strategic investments were as follows (amounts presented are prior to any income tax effects, in thousands):

	Three Months Ended September 30,
	2022		2021
Unrealized losses recognized on publicly traded equity securities, net	$	(9,808)	$	(35,810)
Unrealized gains recognized on privately held equity securities, net	—		4,388
Impairments on privately held equity and debt securities	(2,015)		(500)
Losses on strategic investments, net	$	(11,823)	$	(31,922)
Change in unrealized losses relating to assets held at the end of the reporting period:
Recognized in other income (expense), net	(11,513)		$	(31,422)
Recognized in other comprehensive loss	(310)		$	(500)

Equity Method Investments

The following table sets forth the carrying amounts of the equity method investment and the movements during the three months ended September 30, 2022 (in thousands):

	Equity Method Investment
Balance as of July 20, 2022	$	88,853
Effect of change in exchange rates	(5,113)
Balance as of September 30, 2022	$	83,740