2. Investments Investments consist of the following: | | | | | | | | | April 30, | | | 2025 | | 2024 | Long-term investments: | | | | | | | Available-for-sale securities: | | | | | | | Equity securities and warrants | | $ | 1,204 | | $ | 1,027 | Total long-term available-for-sale securities investments | | | 1,204 | | | 1,027 | Equity method investments | | | | | | | Investments in limited partnership funds | | | 30,423 | | | 19,933 | Total equity method investments | | | 30,423 | | | 19,933 | Total long-term investments | | $ | 31,627 | | $ | 20,960 |
Equity Securities Equity securities and warrants are measured at fair value with net unrealized losses from changes in the fair value recognized in other expense, net. | | | | | | | | | Year Ended | | Year Ended | | | April 30, 2025 | | April 30, 2024 | Net gain (loss) recognized during the period on equity securities | | $ | 177 | | $ | (3,945) | Less: Net loss recognized during the period on equity securities sold during the period | | | — | | | — | Unrealized gain (loss) recognized during the period on equity securities still held at the reporting date | | $ | 177 | | $ | (3,945) |
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