As of Q1'26, Airbnb's cash and short-term investments stood at $12.01B USD, reflecting a robust liquidity position, while total debt reached $0, indicating complete repayment or elimination of outstanding obligations. This marks a significant improvement in the company's balance sheet, with net cash exceeding $12B USD at the latest point. Over the period from Q2'23 to Q1'26, cash and short-term investments exhibited overall growth from $10.34B USD to $12.01B USD, with minor fluctuations including a dip to $10.07B USD in Q4'23 and a peak of $11.68B USD in Q3'25, underscoring stable liquidity management amid operational expansions. In contrast, debt steadily declined from $2.27B USD in Q2'23 to $1.99B USD by Q1'24, remaining flat thereafter before dropping to zero in Q1'26, highlighting a strategic deleveraging trend that enhances financial flexibility without compromising cash reserves.