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Investments | 3 Months Ended
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Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Investments | Investments Investments consist of the following:
| March 31, 2023 |  | December 31, 2022
Cost method investments | $ | 31,914 |  |  | $ | 22,174 |
Equity method investments | 96 |  |  | 96 |
Total investments | $ | 32,010 |  |  | $ | 22,270 |
Cost Method Investments Through its iTwin Ventures initiative, the Company invests in technology development companies, generally in the form of equity interests or convertible notes. In March 2023, the Company acquired an equity interest in Worldsensing, a leading global connectivity hardware platform company for infrastructure monitoring, via contribution of its sensemetrics’ Thread connectivity device business (the “Thread business”) and cash. The non-cash contribution of the Thread business resulted in an insignificant gain, which was recorded in Other income, net in the consolidated statements of operations for the three months ended March 31, 2023. In July 2022, the Company acquired an equity interest in Teralytics Holdings AG, a global platform company for human mobility analysis. During the three months ended March 31, 2023, the Company invested a total of $9,678, including $8,928 of cash and non-cash for our investment in Worldsensing. During the three months ended March 31, 2022, the Company invested a total of $2,111. As of March 31, 2023, our investment balance in Worldsensing and Teralytics Holdings AG was $8,928 and $11,130, respectively. As of December 31, 2022, our investment balance in Teralytics Holdings AG was $11,130.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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