As of Q1'26, Adobe's cash and short-term investments stood at $6.89B USD, reflecting a modest increase of $0.3B from the previous quarter, while total debt remained stable at $6.66B USD, resulting in a net cash position of approximately $0.23B USD. Over the period from Q2'23 to Q1'26, cash and short-term investments exhibited volatility, peaking at $8.07B in Q2'24 before declining to a low of $5.71B in Q2'25 and recovering to $6.89B, indicating fluctuating liquidity management. In contrast, debt showed a clear upward trend, rising from around $4.1B in early quarters to $6.66B by Q1'26, with a notable jump to $6.09B in Q2'24 that has since stabilized at higher levels, suggesting increased leverage to support operations or investments.