As of Q4'25, Airbnb's (ABNB) cash and short-term investments stood at $11.01B USD, reflecting a slight decline of approximately 5.7% from the Q3'25 peak of $11.68B, while total debt remained stable at $2B USD, consistent with its gradual increase over the period. From Q1'23 to Q4'25, cash and short-term investments exhibited overall stability with modest fluctuations, starting at $10.59B and peaking at $11.68B in Q3'25 before the recent dip, indicating resilient liquidity management amid operational demands. In contrast, debt showed a steady downward trajectory from $2.29B in Q1'23 to $2B in Q4'25, with a notable reduction in Q1'24, underscoring improved balance sheet health and reduced leverage over the three-year quarterly timeframe.